Don’t bet your cards on government regulation but rather on the buyer’s of this paper in the secondary market halting buying the portfolio’s laced with risky paper. Countrywide has more money than God and they have a lot of lobbyist in Washington so does HR Block (Option One).
Wells Fargo along with WAMU have just recently loosened their lending guidelines so take that as an example. The government barks, makes an example out of a few that don’t give money to election campaigns and then let’s business as usual take place.
If you don’t believe this look at the SEC and how they have handled corporate fraud and the back dating of options. It goes on and on and on and on just like the song…
