Consultants hired to fix banks questionable

By tovarichpeter   follow   Fri, 1 Feb 2013, 1:09am PST   ↑ Like   ↓ Dislike   140 views   0 comments   Watch (0)   Share   Quote  

http://dealbook.nytimes.com/2013/01/31/doubt-is-cast-on-firms-hired-to-help-banks/?hp

Federal authorities are scrutinizing private consultants hired to clean up financial misdeeds like money laundering and foreclosure abuses, taking aim at an industry that is paid billions of dollars by the same banks it is expected to police. The consultants operate with scant supervision and produce mixed results, according to government documents and interviews with prosecutors and regulators. In one case, the consulting firms enabled the wrongdoing. The deficiencies, officials say, can leave consumers vulnerable and allow tainted money to flow through the financial system.

#housing

Watch comments by email

home   top   share   link sharer   users   register   best comments   about   source code  

#housing   #investing   #politics   #economics   #humor  
please recommend patrick.net to your friends