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From Dennis Miller of Casey Research: … [T]he Federal Reserve is keeping interest rates artificially low to support banks that made poor business decisions. They are doing so at the expense of the public; seniors and savers are often the hardest-hit. A few months ago, I wrote that I felt like the federal government had declared war on seniors and savers. Much to my surprise, some folks took issue with that remark… [...] Federal regulators are poised to crack down on eight financial firms that are not part of the recent government settlement over home foreclosure practices involving sloppy, inaccurate or forged documents. Last week, a senior Federal Reserve official recommended fines for these additional financial institutions, raising questions about how deep foreclosure problems run through the banking industry. In addition, judges, lawyers and advocates for homeowners say that people are still losing their homes despite improper [...] |
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