January 25, 2012

Obama proposes task force to probe mortgage misdeeds

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During his State of the Union address last night, President Obama spoke about the creation of task force that will dig deeper into questionable lending practices.

“President Obama announced Tuesday the creation of a task force aimed at investigating the shoddy mortgage-lending practices that contributed to the financial collapse of 2008 and the housing crisis that continues to weigh on the economy.

Obama said he had asked Attorney General Eric H. Holder Jr. to create a special unit of state attorneys general and federal prosecutors to probe deeper into questionable lending practices and the way in which risky loans were packaged and sold to investors.”

Read more at Washington Post.com

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