Borrowers as Prey, Again

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The Federal Reserve has been rightly criticized for not protecting borrowers — and the economy — in the years before the financial crisis. Under the law, it had the power and the obligation to curb bad lending. It was warned, by Fed insiders and by consumer advocates, of lender recklessness. It still failed to act.

Read more at the NY Times
http://www.nytimes.com/2010/12/20/opinion/20mon2.html

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