Watt: America's not ready

Mell, if that be the case, you wouldnt be an elected oficial! You are off base, just as misinformed as you are on the Mortgage Fallout, blaming brokers for the problem! Brokers are licensed individuals, unlike bank employees,NC Dept of Revenue employees who have access to consumers bank account information, ect! Brokers do not approve,underwrite,nor fund mortgage loans, we merely place them with HUD approved banks like many in Charlotte! We merely submit loan applications submitted by consumers who otherwise cannot get a loan thru you traditional Banks who,s guidlines are based on the 80% rule, which is, if they( the bank) has more than a 20% exposure rate, they wont do the loan, unless, you have a ton of money in their Bank! You have not parted your lips to discuss redlining among your larger Banks and lending institutions, many of those in Charlotte! Is doesn,t take a rocket scientist to figure out why Banks haven,t lobbied to have their employees licensed so their employees cn be held to the high standard rquired by the Banking Commission! Why shouldn,t Bank employees be licensed, they underwrite, approve and fund these loans????????????? Why shouldn,t NC Dept of Revenue employees be licensed, Tax accessors employees! If you are truly concerned about the consumer, propose a bill protecting your constituants againts fraud in Government as well! How about a bill to fine credotors for not correctly reporting to the credit beaureas, how about a governing body to make sure the depositories,Equifax, Trans Union, ect require the information they receive is correct! They have for years,accepted, reported, erroneous information on consumers credit reports,and their is no governing body to require them to change! What Mell, will you do about that!!!!!!!!!!!!!!!!