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House votes to outlaw ;liar loans;
Created: 05/08/2009 2:30 PM
WASHINGTON (AP) - The House voted Thursday to outlaw liar loans
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The proposal
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The bill passed 300-114
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Democrats said it would ban only the most egregious lending practices and wouldn;t keep most people from getting a mortgage they can afford.
The simple fact is that our laws and enforcement efforts did not keep pace with the complexities of a global economy and a financial industry where the greed of some trumped common sense
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Under the bill
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Rep. Barney Frank
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