RENEE MONTAGNE, host:
Our business news starts with a radical plan to fine mortgage lenders.
Barack Obama is calling for a crackdown on unscrupulous mortgage lenders. In an editorial in the Financial Times, the presidential candidate says it's they who are to blame for the credit crisis. Obama wants to fine lenders who sell mortgages to borrowers who can't afford them. The proceeds, he suggests, should be spent on bailing out borrowers facing foreclosure. According to the Center for Responsive Politics, big mortgage lenders spent almost $200 million last year lobbying Washington not to regulate their lending practices.
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