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Loan Modification
: Mortgage Lender Implode-o-MeterComplex Loans Didn't Cause the Financial Crisis
By Implode-Explode Heavy Industries
Regulatory reform that can improve competition and consumer choice in financial services is long overdue. But no new federal bureaucracy such as the Obama administration's proposed Consumer Financial Protection Agency (CFPA) is needed to bring that about.
More importantly, the administration is incorrect in claiming that such an agency would have prevented the present financial crisis and is necessary to prevent the next crisis. On the contrary, such an agency might be the first step toward more problems.
Full post as published by Mortgage Lender Implode-o-Meter on February 19, 2010 (boomark / email).
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