2010-03-05bloomberg.com

" Fannie Mae and Freddie Mac may force lenders including Bank of America Corp., JPMorgan Chase & Co., Wells Fargo & Co. and Citigroup Inc. to buy back $21 billion of home loans this year as part of a crackdown on faulty mortgages."



Comments:

tvsterling at 09:20 2010-03-06 said:
NO it's not counterproductive. Part of the healing process is taking your medicine. The learning process that will occur when & IF the banks eat their own garbage will teach them forcefully not to engage in reckless business practices. So far the government has done anything but encourage sound business practices & responsibility. These creeps probably think US taxpayers are still good for another round of free lunches. Hopefully Fannie & Freddie will have the moral strength to stay the course. Even now the Banksters are rallying their evil minnions to convince congress to give them just one more big freebie; one more for the Gipper (Reagan). Permalink

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