Treasury To Release Report On Mortgage Meltdown..

[Virginia Dare]

By David Cho
Washington Post Staff Writer
Thursday, March 13, 2008; Page D01

The U.S. Treasury is set to release a report today on what went wrong in the collapse of the subprime mortgage market last year and provide initial indications of how the country's financial regulatory framework should be revamped, according to sources familiar with the announcement.

The report, which is the result of a seven-month effort by the President's Working Group on Financial Markets, will signal a need for greater transparency and other reforms to prevent the kind of sudden downturn that has struck credit markets in recent months -- including the way mortgage lenders package and resell loans on Wall Street.


WOW! Seven months? I can analyze it in less than 30 seconds:

Greedy bastards run amok. Bush administration and republican-controlled Congress give them free rein to do as they please at the full expense of the American public.