http://www.breitbart.com/article.php?id=D8REP5LG3&show_article=1

Fed Urges Loan Holders to Avoid Defaults
Sep 4 01:14 PM US/Eastern
By MARTIN CRUTSINGER
AP Economics Writer

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WASHINGTON (AP) – The Federal Reserve and other banking regulators issued special guidance Tuesday urging loan service companies to work with borrowers in danger of defaulting on their home mortgages.

The new guidelines are not mandatory, but the regulators expressed the hope that companies that collect payments on mortgages would heed the advice.

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And what happens if they don’t want to take advice from these unelected minions of the rich and powerful?

Taxpayer pays?

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