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Originally published in the August 2011 issue of Asset Securitization Report (www.sourcemedia.com) I recently completed the book Reckless Endangerment , a widely discussed and heavily promoted perspective on the mortgage and financial crisis. While the book is quite interesting and illuminating at times, it is a poorly written, incomplete and flawed analysis of recent events . The book's strength is its description of how the fixation on affordable housing was allowed to morph into a goal that eclipsed...

Hearings on Subprime Lending and Securitization and Government-Sponsored Enterprises," were conducted last week by the Financial Crisis Inquiry Commission (FCIC.) The ten member bi-partisan Commission was established under the Fraud Enforcement and Recovery Act of 2009 to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." We recap the hearing and share perspectives....

In a question and answer session with the Senate Banking Committee at the Humphrey-Hawkins testimony, Federal Reserve Chairman Ben Bernanke said the central issue in the U.S. economy is the housing market.

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Even as the House of Representatives passed two housing rescue bills and the Senate wrestles over a bill of its own, criticism is raining down on those remedies to the housing crisis that are already in place.

There are so many piecemeal plans operating such as Hope Now, Project Lifeline and FHA Secure that it is hard to make any blanket assessment of performance, but a few initiatives stand out.

Also under fire, not unexpectedly, are proposed new rules for regulating the mortgage industry...

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The third candidate to outline his plans for ending the housing market meltdown was Senator Barack Obama.

Speaking at Cooper Union in New York recently the senator addressed the need for tightening regulations and reforming the financial regulatory system as well as presenting a proposal for a second economic stimulus package.

His economic blueprint included:

I. Modernizing the Financial Regulatory System.

Senator Obama said that the government has let the special interests set the regulatory agenda and...

Also Read: Clinton Housing Plan - McCain Housing Plan

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Senator John McCain was the second candidate to outline his solutions to the housing and credit situation. He restated the history leading up to the current situation and placed the blame for the crisis on:

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