The N&R reports Guilford County Register of Deeds Jeff Thigpen’s discovery of thousands of examples of mortgage fraud, which he characterized as a ‘ticking time bomb.’ Ed Cone’s been tracking the story for a few weeks.
I also noted the irony in today’s story that one of the affected mortgage holders was Commissioner Billy Yow, known around here for his arch conservatism. More ironic is the fact that Yow and Thigpen were political rivals when Thigpen served as a county commissioner. Thigpen’s a nice guy —we attend the same church —— but his politics are definitely liberal.
Indeed, Yow is not known for favoring an activist government, so his comment that the “federal government needs to step in and hold the state regulators and the banks responsible” is indeed interesting. I won’t speak specifically for Yow, but I’ll venture to say that conservative are not against regulation per se, just regulation that micromanages every aspect of our lives.
I think any intelligent person would be able to distinguish the difference between the federal government holding banks responsible and regulating gas cans, which I learned when I went to the hardware store yesterday.
