Frank "Appalled By The Insensitivity & Cruelty" Of Some Republicans As Congress Stiffs Non-Profit Law Firms Out Of TARP Cash For Foreclosure Defense

The Wall Street Journal reports:

• U.S. House Republicans on Friday blocked a last-minute effort to allow foreclosure-prevention funds to be directed to legal aid groups, arguing it was an inappropriate use of financial rescue money. Lawmakers failed to pass a bill sponsored by Rep. Marcy Kaptur (D., Ohio) that would allow those groups to receive money through a federal program to assist homeowners on the verge of foreclosure.

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• Rep. Barney Frank (D., Mass.), the outgoing chairman of the House Financial Services Committee, said recent revelations of sloppy foreclosure practices at large banks underscore the need for homeowners to receive professional legal assistance when facing foreclosure.

• Frank said he was “appalled by the insensitivity and the cruelty” of Republicans opposing the measure, and said it “does not extend the TARP in any way.”

• But Rep. Steven LaTourette (R., Ohio) spoke in favor of the measure, saying he was disappointed that a partisan fight had broken out on the issue. “The money is already out there,” he said. “We should stop the nonsense, approve the bill and move on.”

For the story, see Lawmakers Reject Legal Aid Money for Troubled Borrowers.