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I mean actual rules to protect the small folks. On Wednesday, the House Financial Services Committee started marking up a bill that might create a Consumer Monetary Safety Agency and introduce the primary regulation of the exotic financial devices known as derivatives. His e book is known as The perfect Approach to Rob a Bank Is to Own One: How Corporate Executives and Politicians Looted the S&L Business. PATRICIA McNAIR: Before all of this began occurring to me, I didn’t read these items. This was a horrible thing, as a result of although it’s happening to everybody, when it happens to someone who you’ve come to know very well, it’s very upsetting. So we now have horrific, endemic fraud, and it’s popping out of the lenders, not the poor people who can’t pay the mortgages. The compensation labored out that you had a huge incentive to place folks into a subprime loan.
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