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|Subject: Re: Here We Go Again: CRA Back From the Dead||Date: 1/25/2013 5:07 PM|
|Author: CCinOC||Number: 668317 of 794240|
No, but government can alter the environment so that it is in Wall Street's self-interest to do things that in a rational environment would be obviously unwise.
They're "altering the environment" now and, guess what? Consumers are paying the price. The costs involved in obtaining a mortgage have increased 50%. Fees...fees...fees... Do you really think Wall Street is going to absorb the cost of compliance? Not a chance.
Did Sarbane-Oxley stop the crooks on Wall Street? Nope.
Do you think the Dodd-Frank Act is going to stop the crooks on Wall Street? I doubt it.
That's the thing about crooks, they're always one step ahead of the po-leece.
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