Critics contend that Wall Street's securitization machine masked the existence of risky home loans and encouraged reckless lending because pooling the loans and selling them off allowed many participants to avoid responsibility for the losses that followed.
According to the White House, some educational institutions eager for money from the GI Bill or military tuition benefits have preyed on brain-injured veterans, encouraged service members to take out costly loans and withheld information about their graduation records.
The government classifies biodiesel as an "encouraged industry," extending grants and interest-free loans to companies in this business.
"We remain encouraged by the slowing trend of delinquent loan additions in recent periods, Haldeman said.
Dan Gilbert, founder of the Quicken Loans lender, has rebuilt downtown and encouraged new businesses and old to move into the city.
It has set up an agency to restructure and sell the mass of bank assets that the state now holds, in the hope that this will create a secondary market in loans; it has sold banks to foreign buyers and encouraged mergers; and it has strengthened the supervisors' ranks.
It also strongly encouraged other bankers to issue lousy mortgages to the public, since those loans could be packaged into lousy CDOs and score short-term profits for Wall Street's schemers.
