Tuesday, March 20, 2007

Lessons Learned: How Did It Come to This?

National Public Radio's Marketplace points out some lessons to be learned from the mortgage-default wave.


Anonymous said...

"Lessons not learned" would be a more appropriate title. We've been through this before. So they licensed appraisers and implemented a "Supervisory" agreement with the lenders.

In reality, licensing made the appraisal problem worse, and the "Supervisory" action turned out to be little more than a "Call me if you have any problems" oversight.

Until someone comes down hard on the real estate industry, the fraud will continue unabated.

Anonymous said...

Today's new home sales report: Demand down 1/2 million homes. Contractor bankruptcies inevitable. http://infohype.blogspot.com