Obama: Subprime lending immoral, not illegal
By admin on Oct 6, 2011 in Topics
President Barack Obama said Thursday the mortgage finance practices that led to the economic meltdown were "immoral, inappropriate and reckless," but not necessarily illegal, making it difficult to punish key players, specifically in the subprime debacle.
Obama made those statements after a reporter asked the president during a news conference why the administration never filed any lawsuits [...]
HousingWire
