Social Issues

Congress Talks Tough to Hedge Funds on Loan Modifications 

More than a few hedge funds have gone public in recent days with their opposition to proposed loan modifications, which they say would hurt their investment interests — and on Friday, House Financial Services Committee chairman Barney Frank (D-MA), along with a host of other lawmakers, expressed “outrage” at the idea that investors would not back the government’s plan to refinance troubled homeowners into government-insured mortgages.