December 21, 2007

Subprime shake-up (FT.com)

FT.com – Though it is a bit like taking a second job after the house has been repossessed, the Federal Reserve’s proposals for new regulations on mortgage lending and advertising deserve support. They will reduce – although never eliminate – the kind of sharp practice that led to this year’s subprime debacle. But as well as changing the rules, the authorities need to toughen up their enforcement of them.

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