Bizarre new banking regulation

Banks making sub-prime loans will be required to actually consider the borrower’s ability to pay and confirm a borrower’s income before handing over the money. Now there’s a radical notion.

And yes, some banks and mortgage companies are screaming about such onerous rules, and if the government would just leave the market alone, everything would magically fix itself. What they of course fail to mention is that such lack of regulation is precisely what led to the greedfest followed by the implosion of credit markets.