COLLUSIONZ - charged conservatism

Mr. Barofsky - actual good guy

Mr. Barofsky is the Special Inspector General for the government’s Troubled Asset Relief Program, he promotes a reform to help prevent the next credit disaster. In essence he states that the mortgage industry needs to move away from credit rating agency based value analysis and towards actual review of portfolio asset value…. what a concept eh!.... make loans based on the actual value of the property being mortgaged. Trouble is, you can bet that Geithner and the Obama administration will find a way to screw this up somehow. could be wrong, hope I am not.

The Federal Reserve is looking at this but hasn’t adopted anything. - .Not sure how Obama and Giethner can screw this up…. the fact that the idea was buried in a quarterly report and has recieve little to no media coverage keeps me discouraged. For now…. 3 cheers for Mr. Barofsky. 

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