FED quietly rushing new laws to benfit banks

[redrumloa]

Banks Push Fed to Curb Borrowers' Right to Rescind Mortgages
http://www.bloomberg.com/news/2010-12-1 ... roups.html

Fed ‘Rushing’

Since the financial crisis began, the Fed has come under criticism for having failed to meet its existing legal mandate to protect consumers from deceptive mortgages and other financial products. That track record was one reason behind Congress’s push to create an independent consumer agency.

“I cannot understand why the Fed is rushing through this voluntary gift to the banks unless the Fed is afraid that if it doesn’t curtail the rights of rescission now, it will never happen,” said Kathleen Engel, a professor at Suffolk University Law School in Boston.

 

[FluffyMcDeath]

Coming soon, a new law that says that in the case of burglary it shall be assumed that the burgled party gave the burglar permission to remove the property but that the paperwork has been lost. This legislation is being introduced because successful prosecution for burglary can result in a burdensome and significant loss of freedom for the burglar.