Law professor and author of Other People’s Houses: How Decades of Bailouts, Captive Regulators, and Toxic Bankers Made Home Mortgages a Thrilling Business Jennifer Taub explains the problem with the term “Cramdown”, the story of the Noblemans and fraud in the housing market, the transformation of the Savings and Loan industry, why tax payers hold the bag for bad loans, homeowner protection and the two sides of the bankruptcy code, how housing protections would have helped homeowners and protected the economy, the failure of federal regulators, how banks can choose who regulates them and the structural reforms we need to protect the housing market.
This clip from the Majority Report, live M-F at 12 noon EST and via daily podcast at http://Majority.FM
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