Sunday, February 17, 2008

Eliot Spitzer on Predatory Lending

Eliot Spitzer wrote earlier this week in The Washington Post Predatory Lenders' Partner in Crime
and maybe we have the ultimate cause for the subprime mortgage/housing crisis we are enjoying right now:
"But the unanimous opposition of the 50 states did not deter, or even slow, the Bush administration in its goal of protecting the banks. In fact, when my office opened an investigation of possible discrimination in mortgage lending by a number of banks, the OCC filed a federal lawsuit to stop the investigation."
When will people learn the talk of a smaller government means protecting the interests of the regulated instead of the public?

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