Those whose mantra is Fed Knows Best, need to rethink their blind faith in the Federal government:
Federal agencies are investigating banks' foreclosure-documentation process after some major financial institutions have said they would either review or suspend foreclosures because of possible errors, the Associated Press reported, citing White House Press Secretary Robert Gibbs. Meanwhile, Chicago-area law enforcers are halting foreclosure-related evictions until banks provide them with affidavits legitimizing the foreclosures, AP said in a separate report Tuesday.
Gibbs said an interagency task force on financial fraud is probing the foreclosure process, while the Federal Housing Administration, which guarantees mortgages, has launched its own investigation as well. Gibbs added that the White House will support efforts from all 50 states to investigate the foreclosure process.
And then there's a mortgage re-buy effort?
Not even a month ago, the Fed seemed to be wanting to paint a positive picture.
I'm not sure I understand what all is going on, but, mortgages seem to be the tip of the crazy economic iceberg. Maxed Out Mama is talking about the Fed's unemployment numbers. Those are weird and manipulated, too.
Sent from my iPhone
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