You probably don’t need me to spell out exactly how misleading this is, right? It’s Darrell Issa, after all:
The Republican party will launch aggressive inquiries into alleged abuse of mortgages for low-income buyers if it takes control of the House of Representatives next month.
Darrell Issa, who would head the lower chamber’s main investigative committee, told the Financial Times in an interview: “We should look at financial entities and either reform them or kill them.”
The conservative Republican from California, who would become chairman of the powerful House oversight and government reform committee, said hearings would focus on whether the federal government should be involved at all in sponsoring home loans for the poor.
The investigations would centre on the roles of Fannie Mae and Freddie Mac, the nationalised government-sponsored lending institutions, which Republicans say contributed strongly to the 2008 meltdown by promoting subprime lending.
Mr Issa said the role of Countrywide, the bankrupt subprime lender, would also be investigated.