Bill Would Freeze Fraudulent Lenders
- By Rep. Deborah Pryce
- Special to Roll Call
- Sept. 24, 2007, 12:07 p.m.
Caveat emptor has always been an integral concept in free-
market economies. It’s a Latin phrase encompassing the
understanding that consumers are sophisticated adults capable of successfully engaging in commerce. But the concept of buyer beware is predicated on truth and transparency amid the transaction and is rendered impotent when fraud or misrepresentation strips buyers of their ability to utilize their skills and savvy as consumers.
Unfortunately, fraud has played a significant role in the mortgage problems our nation now faces.
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