Loan Modification

Fed Intends to Hire Lobbyist in Campaign to Buttress Its Image

By Implode-Explode Heavy Industries

They're fast learners... must have noticed it worked well for Fannie and Freddie. Next step is to print enough money to buy up all the lobbying capacity in DC, and then they'll have a lock on it! Permanent power ... until of course the dollar collapses.

Anyway, here's a choice quote:

?People have been asking whether the Fed is capable of getting its job done right,? said Lynn Turner, a former chief accountant at the Securities and Exchange Commission. ?Hiring a former lobbyist from Enron will surely make one wonder.?

Full post as published by Mortgage Lender Implode-o-Meter on June 05, 2009 (boomark / email).