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Loan Modification

: Mortgage Lender Implode-o-Meter

Bankers lobbied secretly to keep derivatives under Federal Reserve ?oversight? and away from real scrutiny

By Implode-Explode Heavy Industries

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"?The banks run the place,? Rep. Collin Peterson cried out this week. The New York Times reports that he has a bill that would specifically ban derivatives from trading in a clearinghouse regulated by the New York Federal Reserve, which Peterson blasted as ?a tool of the big banks.?"

Full post as published by Mortgage Lender Implode-o-Meter on June 02, 2009 (boomark / email).

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