Saturday, September 22, 2012

Mortgage Crisis

CNN reports in 2004 that the FBI warns of morgage fraud 'epidemic' and seeks to head off the 'next S&L crisis':

If the government had acted with even minimal competence, much wealth destruction could have been avoided.  Unfortunately, the politcal thinking at the time was that since capitalism works so much better than communism then the economy would work even better if there was no regulation or enforcement at all!

1 comment:

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