A Washington Examiner article detailing dubious dealings involved with the federal financial regulation reform includes a quote from our own Jon Ham.
If there is any doubt in your mind about the CRL?s role in shaking down banks to provide risky loans, and the line that runs from it to the corrupt Fannie Mae, read this from Stein?s testimony in 2008 to Sen. Dodd?s Committee on Banking, Housing and Urban Affairs (my emphasis): ?Self-Help?s lending record includes our secondary market program, which encourages other lenders to make sustainable loans to borrowers with blemished credit. Self-Help buys these loans from banks, holds on to the credit risk, and resells them to Fannie Mae.?
For more on the topic, visit the Americans for Prosperity Web site for an interesting video presentation.
