]> http://www.campaignmoney.org/bigmoneymitch Comments for "Senator Mitch McConnell and the Subprime Mortgage Industry" en http://www.campaignmoney.org/bigmoneymitch <p><strong>Background</strong></p> <p>&nbsp;</p> <p>On February 28, 2008, legislation aimed at easing the subprime mortgage crisis stalled in the U.S. Senate after Republicans, led by Minority Leader Mitch McConnell (R-KY) and backed by the banking industry, prevented debate on the bill from moving forward. Subprime lenders have been in the spotlight for over a year due to concerns about skyrocketing default and foreclosure rates - linked to predatory lending practices - that have helped bring the economy to the brink of a recession.</p> Fri, 29 Feb 2008 21:53:04 +0000