Written by Timothy Blake on October 06, 2007 under Archives, Editorial
Does it seem important to anyone else that banks, realtors, and insurance lobbied so strongly for deregulation and greater independence from government scrutiny? It does not seem coincidental that the mortgage products failing so miserably in 2006 and 2007 were not even available to borrowers until late 2004 and 2005. Option ARMs, low doc/no doc, stated income, were not available until after consumer protection was restricted in the best interest of the financial institutions.
