myself when I read about this piece.  I also know from an email exchange with the author this is the third application from H&R Block for approval to get into the banking business.  Two previous applications were withdrawn after community groups objected.  The third application has been approved by the OTS under the new direction of John M. Reich.  Does anyone wonder what difference Mr. Reich adds to the equation?  

A side note, some good background on the current picture of the national sub-prime mortgage market, read bonddad's recent diary from Dailykos, Ticking Econ Bomb: $600 BILLION Sub-Prime Mortgages.  For those not familiar with bonddad, he has an attorney and former bond trader.  

by standingup on Fri Mar 17, 2006 at 03:16:59 PM EST