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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Giordano Bruno who wrote (105054)	2/14/2008 1:47:27 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 306849

Spitzer has plenty to clean up on Wall Street. And yeah...Bush screwed the pooch.

To: Giordano Bruno who wrote (105054)	2/14/2008 2:59:11 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 306849

I'd like to see more research on this.. I see where it can be perceived as a violation of states rights by the Federal Government, but I ALSO CAN SEE where the Federal Government may have perceived that 50 different standards for what constitutes predatory lending would open tremendous loopholes for lenders operating nationally. bankersonline.com occ.treas.gov Let's not forget that state politicians are just as corruptible as federal politicians (often more so) in pandering to the special interests seeking favorable business environments in their states. Thus, we have to ask if these 50 states ignored Federal guidelines for predatory lending (and Spitzer is just trying to play CYA), or whether the OCC was culpable in empowering it. Also, the Federal guidelines took effect only in 2005, at about the point where the real estate bubble was topping out. So it seems interesting that in the course of 2 years all of this predatory lending took place. These Guidelines take effect April 8, 2005. The administrative Procedure Act 10 (APA) requirements for notice and opportunity for comment do not apply to the Guidelines. Hawk