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: Mortgage Lender Implode-o-Meter

Not Losing Is New Winning as Wall Street Dilutes Proposed Laws

By Implode-Explode Heavy Industries

"The backlash against bailouts and bonuses is making it harder for Wall Street to get its way as lawmakers redesign the framework for financial oversight. The biggest banks may be forced to submit to a new regulator for mortgages, credit cards and other consumer products; put $150 billion into a fund the government will use if they collapse; and pay more to insure deposits. Still, the firms that helped precipitate the worst financial crisis in 70 years have so far sidestepped proposals that would have split investment and commercial banking, capped pay or seriously hurt their ability to make money."

Full post as published by Mortgage Lender Implode-o-Meter on December 14, 2009 (boomark / email).