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Tuesday, October 26, 2010

FDIC Missed Signs of Foreclosure Problems, Chief Says


“Sheila C. Bair, chairman of the Federal Deposit Insurance Corp., said Monday that federal officials should have recognized ‘warning signs’ in recent years that the mortgage industry was cutting corners in the foreclosure process.” (Washington Post)

But don’t worry. They’ll spot the next problem in time.

FEE Timely Classic
“Banking Without Regulation” by Lawrence H. White