Where was the Bush Administration, the Plunge Protection Team and the Fed when we needed them? Day late and a few trillion dollars short I'd say.
Talk about showing up at a bank robbery after the crooks have already fled..
Paulson says US blueprint calls for stronger oversight of mortgage lenders
Treasury Secretary Henry Paulson said Thursday that a presidential working group wants stronger regulatory oversight of mortgage lenders to avert the kind of credit crisis that is dragging the economy down.
In a new Bush administration initiative that Paulson said is not about "finding excuses and scapegoats," a presidential working group set up in the wake of the 1987 stock market crash is calling for a series of actions designed to avert the kind of chilling housing and credit crunches that are threatening to throw the nation into recession - if it isn't there already.
One recommendation calls for federal and state regulators to strengthen oversight of mortgage lenders and another urges state financial regulators to implement strong nationwide licensing standards for mortgage brokers, according to the group's report, released Thursday.
March 13, 2008
Seven years too late, Hank Paulson calls for nationwide licensing of the slimy and corrupt mortgage broker "profession". Thanks Hank. Bit too late.
Posted by blogger at 3/13/2008