Maybe now something will be done

William Black points out three examples of problems in our financial industry that were exposed this week:

1. Citi lied to Fannie and Freddie about the quality of the mortgages Citi had sold to them. Citi claimed the mortgages were "conforming". 60% were not.
2. WaMu's testimony on Capitol Hill convinced Black that their accounting was fraudulent.
3. And, the Goldman case makes three.

Then, of course, last month we had the Lehman Brothers case. And this week ProPublica highlighted the Magnetar case, which is almost identical to the Goldman case.

How can our leaders not tighten up financial industry regulations?