Home -> Law Blog Directory -> Loan Modification Blogs -> Mortgage Lender Implode-o-Meter

Loan Modification

: Mortgage Lender Implode-o-Meter

Fed Made Taxpayers Junk-Bond Buyers Without Congress Knowing

By Implode-Explode Heavy Industries

"By using its balance sheet to protect an investment bank against failure, the Fed took on the most credit risk in its 96- year history and increased the chance that Americans would be on the hook for billions of dollars as the central bank began insuring Wall Street firms against collapse. The Fed?s secrecy spurred legislation that will require government audits of the Fed bailouts and force the central bank to reveal recipients of emergency credit."

Full post as published by Mortgage Lender Implode-o-Meter on July 01, 2010 (boomark / email).