Mortgage Task Force Has a Fancy Name, but Will It Get Tough?

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Mortgage Task Force Has a Fancy Name, but Will It Get Tough?

Mortgage Task Force Has a Fancy Name, but Will It Get Tough?

Where was Obama these last years, millions getting thrown out in the streets?

This is purely political and this is election year…coincidence? NOT.

Gretchen Morgenson-

PRESIDENT OBAMA told the nation last week that he was convening a task force to investigate the abusive practices in the mortgage industry that led to our economic woes. Both lending and the practice of bundling loans into securities will come under scrutiny, he said, adding: “This new unit will hold accountable those who broke the law, speed assistance to homeowners and help turn the page on an era of recklessness that hurt so many Americans.”

Some greeted this new task force — its unwieldy name is the Residential Mortgage-Backed Securities Working Group — with skepticism. It is an election year, after all, and many might wonder if this is just a public-relations response to the outrage against the institutions and executives that almost wrecked the economy.

If this task force nailed some big names, and soon, it would help to allay deep suspicions that the authorities have given powerful people and institutions a pass during this awful episode.

[NEW YORK TIMES]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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