Posted To: Pipeline Press

In last night's speech President Obama asked for creation of special unit of federal prosecutors to further investigate mortgage lending practices that led to the housing crisis. "This new unit will hold accountable those who broke the law, speed assistance to homeowners, and help turn the page on an era of recklessness that hurt so many Americans." Soon afterward I received this note: "I guess former Senator Dodd, Barney Frank, Bill Clinton, and Andrew Cuomo had better assemble good teams of attorneys. I don't remember who ran the FDIC for the last 8 years but Shelia Bair and Alan Greenspan might need one too!" Obviously the government's housing ownership push to artificial levels a decade ago is well remembered. Seriously, there were two quotes that caught the interest of those in our business...(read more)