Even while we the taxpayers spend trillions to bail out the banks that brought us to ruin, they are at it again — looting the casino at our expense.  David Einhorn, a very, very smart hedge fund player who made a lot of money by correctly predicting the downfall of Lehman Brothers, recently pointed out “Even as the government spends trillions to subsidize mortgage rates,
the resulting discount is not being passed to homeowners but is being kept by mortgage
originators who are earning record profits per mortgage originated.  Recently, Goldman
upgraded Wells Fargo partly based on its ability to earn long-term oligopolistic* mortgage
origination spreads.”  Here’s a pdf of the speech

*Oligopoly: A situation in which a particular market is controlled by a small group of firms.