House Financial Services Committee Ranking Member Barney Frank (D-Mass.) said Friday that he would reintroduce legislative language next week that would require large financial institutions to pay for federal mortgage assistance programs.
Good for him. These are some of the institutions that wrecked the economy by abusing the government-sponsored mortgage securitization process. Then we, the taxpayers, bailed out the financial industry. Then the banks we bailed out put the money in their pockets and have consistently refused to lend and get the economy going. So, how about at least paying for the mortgage relief programs?