Senate Report Lays Bare Mortgage Mess
Mortgage companies are again under fire in a U.S. Senate report that describes the events leading up to the 2008 mortgage meltdown. This article highlights the details collected through an investigation of financial institutions over the past couple of years that shows evidence of abuse. These investigations will likely end in settlements by Wall Street firms that sold mortgage-bond deals which essentially caused the financial crisis. The Senate panel working on this report also made suggestions for corrective actions including examinations by bank regulators and evaluation of risky lending practices. Read the WSJ article.
SOURCE: Wall Street Journal, 4/14/11