02/01/2011 02:48 pm ET Updated May 25, 2011

Lawyers' Carelessness Was Key To The Mortgage Mess

Two of my biggest concerns about the mortgage mess involve the conduct of lawyers at every stage, from creating the toxic securities to foreclosing on homes, and that so far the major players haven't been held accountable for their actions in creating the crisis. Both concerns are neatly encapsulated by an enforcement action taken by the Securities and Exchange Commission at the end of last week.

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