Mortgage Predatory Lending
Along with the bail out, should not the Feds pass some lending reforms that benefit the taxpayers?
While the federal government is busy rescuing the mortgage lenders with hundreds of millions of tax dollars, would not also be fair to the feds to pass legislation to stop lenders from imposing heavy fines and late fees? After all, if the taxpayer has to foot the bill to rescue the lenders, should not taxpayers get something in return like lower interest rates, no late penalties and fees? Or is the federal government just continue aggressive lending practices that seem to have become the norm in the lending industry. Maybe a little reform is in order?
Your absolutely correct and as usual the government is doing things bassackward. First reforms, then jump out otherwise what's to stop this from happening again and again?