[bray]

What that reflects is the pre-crash Fannie and Freddie regulations forcing bankers to give loans to people who had no chance of repaying and then writing off those loans for free housing.

Also, the Dodd/Frank bill has forced banks to basically forgo underwriting and get approval from DC for most loans. The mortgage bankers have become slaves of DC. There is no free market in the mortgage industry. It has become another DC boondoggle costing all of us money and more Marxism.

[Morgan in Denver]

Thanks. To hear him talk, you’d think 0 & Co hung the moon in fixing a huge Bush mistake.

[ROCKLOBSTER]

What that reflects is the pre-crash Fannie and Freddie regulations forcing bankers to give loans to people who had no chance of repaying and then writing off those loans for free housing.

Well...plus "The Fed" and the Boston Fed, issuing edicts directly to banks, saying as much.

A couple of additional names...Major players..."Einsteins" Alan Greenspan and Ben Bernanke.