patrick.net

  new post
register or log in

patrick.net's 40 proposals »

10,748 registered users, 4 online now: APOCALYPSEFUCK_is_ADORABLE, CBOEtrader, jazz music, marcus

Further evidence that bankers control their regulators

By curious2 (72/72 = 100% civil)   2013 Jan 5, 2:42pm   ↑ like   ↓ dislike   419 views   2 comments   watch (1)   share   quote  

"A settlement reportedly in the works with big banks will soon end a review into foreclosure abuses, and it means more of the same: no accountability for financial institutions and little help for borrowers.
***
it is another gift to the banks.
***
Let’s not forget that this looming settlement will also conclude the foreclosure reviews that were supposed to provide regulators with chapter and verse on how banks abused their customers."

http://www.nytimes.com/2013/01/06/business/bank-settlement-may-leave-tiny-slices-of-a-smaller-pie.html?_r=0

#housing

Comments 1-2 of 2     Last »

1   Oxygen   2013 Jan 5, 7:28pm  ↑ like (1)   ↓ dislike   quote   top   bottom   home   share  

regulatory capture will never stop

2   curious2 (72/72 = 100% civil)   2013 Jan 6, 1:38am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

This is the sad denouement of the bubble saga that inspired PatNet. We had a bubble while regulators cheered the infallible "free market" awarding huge bonuses to supposedly brilliant bankers. Now we have a lemon socialist bailout while government props up prices and even higher bonuses for those same bankers. The problem isn't necessarily too much government nor too little, it's that captured government is part of the problem not the solution.

Comments 1-2 of 2     Last »

Watch comments by email

home   top   users   about   contact  
#investing   #housing   #politics   #humor  
housing crash   thunderdome   sexy pix   site suggestions  
best comments   ad hominem comment jail   patrick.net on twitter   random post  
please recommend patrick.net to realtors