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DEC 11, 2009 6:46pm ET

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House Makes Changes to Reform Bill
DECEMBER 11, 2009

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Reg Reform: Concession Time's Only Just Begun

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House leaders were forced to significantly weaken regulatory reform legislation to get it passed last week, and the Senate is likely to water it down further.

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The $25 billion mortgage robo-signing settlement is:
Political extortion from the banks in an election year
A slap on the wrist — the banks put reserves away for this long ago, they won't even feel it
A source of relief for both banks and homeowners that could help the housing market and economy recover
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