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Loan Modification

: Mortgage Lender Implode-o-Meter

How Washington Abetted the Bank Job

By Implode-Explode Heavy Industries

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The civil culture of basic rule-of-law enforcement in government is dead: ``Ideas like the proposal by Paul Volcker, the former Fed chairman, to prohibit traditional banks from trading on their own accounts, will do little to improve the situation so long as enforcement is left up to regulators? discretion. Passing piecemeal fixes to outlaw each fraud-inviting instrument... will never be a substitute for restoring civil liability for abetting securities fraud. Innovation can too easily outstrip specific rules. ''

Full post as published by Mortgage Lender Implode-o-Meter on April 04, 2010 (boomark / email).

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