9/28/2009

In an interview, House Financial Services Committee Chairman Barney Frank, D-Mass., said avoiding a second Great Depression took "a lot of hard work. ... Now we're in the phases of making things better and putting down rules so it doesn't happen again." Frank said limiting securitization was one of his chief concerns as regulatory reform moves forward. "I believe the single biggest issue here is that people invented ways to lend money without worrying if they got paid back," he said.

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