[SunTzuWu]

While there's widespread agreement that banks should have been reined in and perhaps punished after playing a major role in the housing bubble that helped tank the economy,

Here we go rewriting history again.

[cassiusking]

The housing bubble was needed to hide the disappearance of manufacturing to foreign countries.

[rbg81]

I’m guessing its because:

1. They are being pressured (for diversity’s sake) into giving loans to people who cannot pay them back.
2. When the House of Cards collapses again (as it will), they know Politicians will demonize them for forcing “predatory” loans on “unsuspecting” borrowers.

[wjcsux]

Those evil banks are discriminating against poor people again.

[G Larry]

Let’s see;
First, the Fed’s tell the banks they MUST make loans to unqualified buyers,
Then, they fine the banks BILLIONS of dollars for selling bundles of loans that ultimately fail, because the borrowers were UNQUALIFIED!!

Where do these BILLIONS in fines go?

Into Democrat slush funds, as there is NO ACCOUNTABILITY or traceability for these off book transactions.

Aside from stopping these government frauds before they start, we need legislation creating accountability for gov’t fines.
My first recommendation is that they go as a direct offset to the debt.