That $335 Million BofA Settlement: The Good, The Bad, And The Very Ugly | Crooks and Liars.
Unfortunately it will be the bank itself, not the government, that selects and oversees the Administrator. While the program will be subject to the government’s oversight and review, its track record on performing those functions has been extremely poor under both President Bush and President Obama. The banks’ “extend and pretend” manipulation was carried out under the permissive eye of the Treasury Department, which didn’t seem troubled by their behavior at all. So another debacle is all too possible.
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