Iceland, a country that wants to punish the bankers responsible for the crisis

[ChunkyMonkey]

IMHO the blame is on the top bankers aka the Federal Reserves which prints money out of thin air, and our GOV who's borrowing them like there is no tomorrow.

Moreover, our lovely congressmen and women have mandated through FHA, fannie, and freddie that those who had to file bankruptcy or foreclosure is eligible for another tax payer funded loan in 3 years.

Right now, I have a borrower who had filed bankruptcy twice in 8 years, has 3 ongoing collections, 1 eviction in the past, but had just enough credit to qualify for FHA loan... and despite the underwriter and my judgement, we are obligated to approve the loan. Few years from now, DORA then will 'again' send me a complaint letter that we coerce this borrower into signing a loan he cannot afford.

[islandermyk]

IMHO the blame is on the top bankers aka the Federal Reserves which prints money out of thin air, and our GOV who's borrowing them like there is no tomorrow.

Moreover, our lovely congressmen and women have mandated through FHA, fannie, and freddie that those who had to file bankruptcy or foreclosure is eligible for another tax payer funded loan in 3 years.

Right now, I have a borrower who had filed bankruptcy twice in 8 years, has 3 ongoing collections, 1 eviction in the past, but had just enough credit to qualify for FHA loan... and despite the underwriter and my judgement, we are obligated to approve the loan. Few years from now, DORA then will 'again' send me a complaint letter that we coerce this borrower into signing a loan he cannot afford.

Wow man... that is a perfect case of "Lead by Example" I guess...