All this because these big banks were coerced to
buy the scum suckers in the mortgage industry
that were about to go belly-up, which would devastate
the industry and hurt the investors.
Hope that the banks will realize to never acquire a troubled bank without the ability to complete due-diligence
in the future, and tell the feds to go screw.
Pretty much everyone was ok with lending guidelines at the time and knew how things were being done. Things were loose and some loans were being made that in hind site; shouldn’t have been.
But everyone knew the situation.
Now they want to come back and apply todays much tougher guidelines and punish lenders.