Right now on c-span they are having a discussion about banking regulation and agriculture. Finally they are asking about banking accounting fraud and the fact that no one has been able to investigate the books of some of these mortgage companies.
As someone who has witnessed first hand the accounting fraud, let me say that until the accounting fraud is uncovered we will not see improvement in the markets. The man defending the banking institutes said that the FDIC oversees banking fraud and would have investigated if it existed. However, there was no rebuttal to this point that the FDIC has been absolutely overwhelmed and has not yet, been able to investigate the books on these mortgages.