ABSTRACT :: The House Financial Services Committee recently concluded that lack of regulation of private-label mortgage-backed securities (MBS) is to blame for the unsustainable housing bubble that peaked in mid-2006-and consequentially, the economic crisis that ensued when the bubble burst. It is true that the Secondary Mortgage Market Enhancement Act of 1984 largely exempted private-label MBS from securities regulation, however, this Article concludes that lack of regulation of private-label MBS did not cause the unsustainable housing bubble and resulting economic crisis. On the contrary, government interference caused the unsustainable housing bubble and resulting economic crisis through government sponsored entities competing in the MBS marketplace coupled with federal housing policy, particularly the Community Reinvestment Act, which encouraged banks to take undue risk.
September 2016, Vol. 68, No. 5
Leslie C. Levin, Lawyers Going Bare and Clients Going Blind
Aya Gruber, Amy J. Cohen, & Kate Mogulescu, Penal Welfare and the New Human Trafficking Intervention Courts
Caprice Roberts, Supreme Disgorgement
Anthony Jose Sirven, Undue Process: A Father's Proprietary Interest in an Embryo and Its Clash with Casey
Maris Snell, Section 875C: Not for All Intents and Purposes