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Originally Posted by oklavol  Banks are insured by the FDIC who then in turn audit their underwriting standards every 6 months. The Chairman or Chairwoman of the FDIC is appointed by the President. |
please. The banks weren't the ones holding the majority of the mortgage paper out there. They were the ones doing the shady mortgage selling.
The FDIC chair has as much to do with the mortgage market as I do.