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View Diary: Some people saw this coming. (29 comments)

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  •  That's not what the OCC advisory said/did (0+ / 0-)

    Some writers have so confounded society with government, as to leave little or no distinction between them - T Paine

    by breezeview on Mon Sep 29, 2008 at 07:35:45 AM PDT

    •  This was dated in February 2003 (1+ / 0-)
      Recommended by:
      breezeview

      Were there any changes after that? I am not an expert by any means so please let me know. I will have to update my diary if the OCC did not make the changes that the Bush administration requested per the Eliot Spitzer article that I am basing almost my entire diary on.

      •  This was before or after his hooker troubles? (1+ / 0-)
        Recommended by:
        franziskaner

        The OCC was detailing the problem(s) and implementing solution(s)

        States always protest when the fed does something that contradicts state practice.

        This is a complicated problem, there is actually plenty of blame to spread to all quarters public and private.

        Thats why there is a modicom of bipartisanship in those both the for and against the bailout.  Loudest on the "for" side are the a**holes neck deep in it's causes.

        Some writers have so confounded society with government, as to leave little or no distinction between them - T Paine

        by breezeview on Mon Sep 29, 2008 at 08:03:56 AM PDT

        [ Parent ]

        •  Eliot's article above was published on the 14th (1+ / 0-)
          Recommended by:
          breezeview

          of February but according to wikipedia, an affidavit was filed against him on the 13th of February, a day before the article was published. I have no idea when Spitzer actually wrote the article or if anyone had any warning that this was coming out.

          You are absolutely right, there is plenty of blame to go around.

      •  All of these have the sole purpose of (0+ / 0-)

        protecting the ability of consumers to obtain mortgages from national banks free of state interference.

        Some writers have so confounded society with government, as to leave little or no distinction between them - T Paine

        by breezeview on Mon Sep 29, 2008 at 08:14:22 AM PDT

        [ Parent ]

        •  isn't that interference (1+ / 0-)
          Recommended by:
          breezeview

          the regulations that Spitzer was talking about, such as the Georgia Fair Lending Act (GFLA)?

          As a result of our Order and Determination, the GFLA does not apply to national banks and their operating subsidiaries making loans in Georgia.

          •  Ginsberg disagrees "in principal" with Spitzer (0+ / 0-)

            In accord with the Courts of Appeals that have addressed the issue,1 we hold that Wachovia’s mortgage business, whether conducted by the bank itself or through the bank’s operating subsidiary, is subject to OCC’s superintendence, and not to the licensing, reporting, and visitorial regimes of the several States in which the subsidiary operates.

            link

            Some writers have so confounded society with government, as to leave little or no distinction between them - T Paine

            by breezeview on Mon Sep 29, 2008 at 08:22:27 AM PDT

            [ Parent ]

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