The grilling continues

My take on the subprime meltdown is the whole thing was driven by “greed”. Pure and simple human greed. The US Bond market was flush with cash and investors seeking a higher return. Mortgage companies moved into the subprime market more aggressively to take a bigger piece of the pie. Now could banking regulators have done more? Maybe, but I don’t know for certain. Maybe they could have. I guess that is why the second round of hearings is intended to uncover. Stay tuned.

Regulators to face more grilling over subprime loans – MarketWatch: “Regulators including FDIC Chairman Sheila Bair, Office of Thrift Supervision Director John Reich and National Credit Union Administration Chairman JoAnn Johnson are scheduled to testify before a House Financial Services subcommittee about the subprime mortgage market and predatory lending, and the effects of both on banks. “

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