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<oembed><version>1.0</version><provider_name>naked capitalism</provider_name><provider_url>https://www.nakedcapitalism.com</provider_url><author_name>Yves Smith</author_name><author_url>https://www.nakedcapitalism.com/author/yves-smith</author_url><title>Regulators Issue Weak Consent Orders to Whitewash Mortgage Abuses | naked capitalism</title><type>rich</type><width>600</width><height>338</height><html>&lt;blockquote class="wp-embedded-content" data-secret="0d8jb4Qh0g"&gt;&lt;a href="https://www.nakedcapitalism.com/2011/04/regulators-issue-weak-consent-orders-to-whitewash-mortgage-abuses.html"&gt;Regulators Issue Weak Consent Orders to Whitewash Mortgage Abuses&lt;/a&gt;&lt;/blockquote&gt;&lt;iframe sandbox="allow-scripts" security="restricted" src="https://www.nakedcapitalism.com/2011/04/regulators-issue-weak-consent-orders-to-whitewash-mortgage-abuses.html/embed#?secret=0d8jb4Qh0g" width="600" height="338" title="&#x201C;Regulators Issue Weak Consent Orders to Whitewash Mortgage Abuses&#x201D; &#x2014; naked capitalism" data-secret="0d8jb4Qh0g" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"&gt;&lt;/iframe&gt;&lt;script type="text/javascript"&gt;
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</html><description>Last week, we inveighed against an effort by Federal banking regulators to undermine the 50 state attorney general settlement negotiations on foreclosure and mortgage abuses. This affair is becoming a pathetic spectacle, in that the state initiative, which looks to be an exercise in form over substance, still might prove to be enough of a nuisance to the banks that the Powers that Be in Washington feel compelled to do what they can to hamstring it. The first effort was to have a joint settlement, which we dismissed as a barmy idea given the disparity in state and Federal issues. Not surprisingly, the Feds withdrew after the first negotiating session with the banks.   The current end run is apparently led by the Ministry of Bank Boosterism more generally known as the OCC and comes via consent decrees that were issued Wednesday.</description></oembed>

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