Under a policy quietly formalized in 1998, the Fed refused to police lenders' compliance with federal laws protecting borrowers, despite repeated urging by consumer advocates across the country and even by other government agencies. Full Story »
Posted by Kaizar Campwala - via Memeorandum
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This article covers a long period and is in depth. Reading it makes me wonder how a regulating agency can choose what to regulate and what to ignore. It is an important story as Congress and the Administration look at regulatory changes.
This first article aimed at presenting a thorough and well-informed record of the Federal Reserve deserves readers' attention. It offers a serious and trustworthy account of rather complicated issues which are of high importance, especially in today's situation.
I learned a lot in reading this article, and I am looking forward to the forthcoming part(s) of the story.
The Fed was basically preventing itself from finding systemic problems. More »
The Fed’s reluctance was part of a broad governmental retreat from oversight of the financial industry. Greenspan and many politicians in both parties saw regulation ... More »
Shows in a number of ways why the Fed may not be the righr kind of agency to protect mortgage borrowers.
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