Here come the regulators

More rules is not the answer. The fundamentals have to be enforced. I fear the government has already made up its mind. The industry has already made severe corrections. Companies have already gone out of business. Those left are making adjustments so they can survive. The market is working. If the government wants to be useful they need to go after mortgage fraud more aggressively and enforce existing laws rigorously.

Here Come the Mortgage Regulators [] March 26, 2007: “My concern is that — as with the Sarbanes-Oxley hoops through which corporate America must jump routinely, along with the counterproductive rules now governing much of securities analysis — the regulators will almost certainly overcorrect as they seek to deal with the lenders’ real or perceived transgressions. “

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