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Richard Cordray

We've learned nothing from the subprime mortgage meltdown. Here's proof.

We've learned nothing from the subprime mortgage meltdown. Here's proof.

"The Big Short," which I saw over the weekend, is an entertaining movie. It's also deeply disturbing because one take-away is that we learned nothing from the stupidity and greed of the subprime mortgage meltdown.

Want proof? Look no further than a recent crackdown in the subprime sector by the Consumer Financial Protection Bureau.

The watchdog agency, which conservatives say is the embodiment of regulatory overreach, slapped Florida's Clarity Services Inc. and its owner, Tim Ranney, with an $8-million fine for illegally accessing the credit files of thousands of consumers nationwide.

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