Several U.S. federal investigations into subprime lenders involve possible insider trading before announcements of negative news about the lender, a Securities and Exchange Commission member said on Friday.But remember, conservatives will tell you the real causes of subprime lenders going under were not naked greed or fraudulent accounting or anything like that.SEC Commissioner Elisse Walter said the agency is looking at whether subprime lenders properly accounted for loan loss reserves, impairment of asset values and whether they overvalued foreclosed property and other assets.
It was those damn broke-ass minorities.
And you wonder why nobody takes conservatives seriously anymore.
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