Ron Paul says Obama's new loan rules potentially illegalSubmitted by DeMolay on Wed, 10/26/2011 - 15:22
By Justin Sink - 10/26/11 02:10 PM ET
Ron Paul said that moves by President Obama to help those facing "underwater" mortgages and mounting student loan debt through executive order were potentially illegal during a radio interview Wednesday.
Paul was asked about the president's decision to make the changes to how federally-backed mortgages and student loans will be repaid without seeking congressional approval. Obama has said during a swing through the Western United States this week that the moves were necessitated by legislative inaction on his jobs bill.