Tuesday, May 09, 2006

Now THIS is Funny...

...in a sick sort of way. The federal regulators finally woke up to the problems of creative financing and how an army of sleazoids have been preying on the most vulnerable players in the market and proposed some regulations. The response was predictable. The large lending associations screamed bloody murder about over-regulation (I should note that not only consumer groups but the small lenders who can't afford to play this game applauded the regulations.). The lender leading the screaming was Countrywide Financial, a company that has consumer complaints stacking up so fast you need wings to stay above them.


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