http://www.cnbc.com/id/39828633
Here comes Ben to save the day!
No, not for you.
But for his banking buddies.
You see the FED is in a fix,
That crap is sitting on their books to and it makes them look very stupid for forking over money (yours) for a title they can't even transfer.
It's either that or collusion, either way it's bad for the FED.
The stupidity factor, means Ben's not fit to make economic decisions that effect this country.
And the collusion factor, means Ben should be tried and imprisoned like the rest of the big investment banking industry, after all he does take violations of proper procedure seriously.
Federal banking regulators are examining whether mortgage companies cut corners on their own procedures when they moved to foreclose on people's homes, Federal Reserve Chairman Ben Bernanke said Monday.
Preliminary results of the in-depth review into the practices of the nation's largest mortgage companies are expected to be released next month, Bernanke said in remarks prepared for delivery to a housing-finance conference in Arlington, Va.
"We are looking intensively at the firms' policies, procedures and internal controls related to foreclosures and seeking to determine whether systematic weaknesses are leading to improper foreclosures," Bernanke said. "We take violation of proper procedures seriously," he added.
