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makesumgravy

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Re: StephanieVanbryce post# 155352

Wednesday, 03/04/2009 1:40:09 PM

Wednesday, March 04, 2009 1:40:09 PM

Post# of 447480
These private non-bank lenders enjoyed a regulatory gap, allowing them to be regulated by 50 different state banking supervisors instead of the federal government. And mortgage brokers, who also weren't subject to federal regulation or the CRA, originated most of the subprime loans.

Steph at whose feet should the blame be layed at?. The Federal Government?..............Deregulation, no oversight from any agency?.........what or who could have prevented this from happening?



"Dying For A Living Boy, Is Not Much Of A Living"
Josey Wales

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