Real reform wont ‘t come about until the banks are slapped as well.
Loan Servicing: It looks like a deal is near between the servicing companies and state attorney generals. Let’s hope it cuts out the outrageous (excuse the hyperbole) abuses in this area. Forged signatures and phony documents have become commonplace. This is the soft underbelly of the securitization market. But real reform wont ‘t come about until the banks are slapped as well. They turned a blind eye to rampant abuse. They should have demanded better.
Insider Trading: An attorney with a top drawer resume (Cravath, Skadden and Wilson Sonsini — it doesn’t get much fancier than that) has been accused of insider trading. According to the indictment he got himself into the firm’s computer system in order to gather information on upcoming mergers. He then passed that information on to a confederate who purchased millions of shares. What are these people thinking? An attorney with that resume is good for a salary in hugh six-figures. Greed, greed, greed.
Shutting Down the Government: Why does this have to happen? Why does the Congress have to take us to the brink, year in and year out? All it does is reduce our faith in the government. Folks figure it out.