Bank of America’s Newest Mortgage: 3% Down and No FHA. Move would skirt agency that has punished banks for errors on similar loans

The Wall Street Journal reports:

Bank of America Corp. is rolling out a new-mortgage product that would allow borrowers to make down payments of as little as 3%, in a move that would represent an end run around a government agency that punished the bank for making errors on similar loans.

When will the media ask Comrade Sanders or Comrade Clinton whether taxpayers should be on the hook for mortgages with 33 to 1 leverage? After all, the worlds riskiest hedge funds aren't allowed to be leveraged more than 3 to 1.