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Thursday, December 22, 2011

Not a single broker or executive goes to jail

$335 Million settlement across 200,000+ borrowers, for one company (of hundreds?).

Not a single mortgage broker or loan officer goes to jail. Not one, reportedly.

Ergo, nothing will or has changed.

One wonders just how much worse it will get when the Democrats keep adopting moves to shut Freddie and Fannie out of the credit markets, despite their salutatory affect on creating fair access to credit...