I agree with your characterization. It is just very poor business, very poor practices in terms of making sure that consumers were contacted, that they were appropriately treated, that all the legalities were observed, et cetera.
Bernanke acknowledges poor practices by loan servicers affecting consumers.
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Although monetary policy is working to promote a more robust recovery, it cannot carry the entire burden of ensuring a speedier return to economic health. The economy's performance both over the near term and the longer run will depend…
Congress did not intend for the Federal regulators to discard the State risk-based capital system in favor of a banking capital regime.
monetary policy is not a panacea, so there is still plenty of room for Congress to address some of these problems
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