WASHINGTON — Federal Deposit Insurance Corp. Chairman Sheila Bair said Wednesday the growing robo-signing scandal was symptomatic of the poor incentives that marred the securitization market, but she opposed a universal freeze on foreclosures.
While she continued to push for loan workouts, Bair said, "Across-the-board foreclosure moratoriums - I'm not sure that would help anyone. I think it would forestall a process that necessarily has to take place," Bair said.
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