Love is a two-term congresswoman who serves on the House Financial Services Committee, a standing committee committed to oversight of the nation’s economy in sectors such as housing and banking.
After the financial collapse of 2008, Congress enacted Dodd-Frank legislation to regulate an industry that had thrown the economy into a downward spiral. Pre-crisis, lenders were seeking consumers to lure into mortgages that were financially unsustainable, and the market for subprime loans and mortgage-backed securities (derivatives) was expanding at unprecedented speeds.
Rating organizations like the Standard and Poor’s were nothing short of complicit as they granted bundles of subprime loans AAA ratings generally reserved for the most safe investments.