U.S. diluted loan rules before crash

Discussion in 'Wall St. News' started by WaveStrider, Dec 1, 2008.

  1. http://news.yahoo.com/s/ap/20081201/ap_on_bi_ge/meltdown_ignored_warnings

    "WASHINGTON – The Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed. It ignored remarkably prescient warnings that foretold the financial meltdown, according to an Associated Press review of regulatory documents."

    This article lists quotes arguing against prescient regulation from companies that crashed (Countrywide, IndyMac, Lehman) ...

    - BUT, what about companies that are still operating but receiving taxpayer largess now? Did the management of those companies argue the same? What are the names of the CEO's/director who did - and are they still running the same companies now?