Mortgage, Transparent RE

Roll out the Guillotine

Today, Senator Christopher Dodd became the first in a series of prominent political figures to call for an examination of the sub-rime lending fiasco now surfacing in the mortgage industry. Dodd said,

REALonomics believes heads will (actually “must”)roll and the only remain question will be, whose heads, how many heads, when the heads will begin to roll and how far the rolling will of the heads will be. Following the bowling exercises, the real pile of regulations and new lending laws will be unveiled.

I am eager to hear the regulators’ responses before my Committee on Thursday, and hope they are equipped with effective policy proposals to help Americans who are at risk of losing their homes due to abusive practices in the market.

Dodd’s hearings are scheduled for Thursday, March 22, at 10 a.m. and are affectionally known as the “Mortgage Market Turmoil: Causes and Consequences.” This will be the beginning of an ugly series lop-offs. According to Dodd’s website, he will be calling up a who’s who to begin the investigation.

Dodd wants answers And so will 1 million home owners.

Transparent real estate…

Related posts:

1. Canaries in the Labyrinth
2. Snake Oil & the Giant Sucking Sound
3. Bail Out or No Bail Out