Why am I not surprised that the utterly compromised SEC somehow has not gotten around to instituting needed reforms. Watch what they (and the rest of the Obama Administration) do on financial reform, which so far has bee virtually nothing, rather than what they say, which is endless promise of reform that never seems to materialize. It’s called corporatism, the deliberate favoring of large politically-connected businesses over the good of everyone else.
Fannie Mae unlimited backstop under investigation. Democrats and Republican alike are calling for an investigation of the Christmas Eve decision to lift caps on Fannie and Freddie.
Riskiest lenders were most active lobbyists: IMF. What lawmakers got the contributions, what did they know, and when did they know it?