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WASHINGTON (AP) - Congress will press federal regulators on whether they were lax as high-risk mortgages proliferated during the housing boom and even contributed to the spike in delinquent payments and foreclosures.
Some of the biggest companies in the so-called subprime mortgage market also are being called to account by lawmakers as turbulence swirls in the subprime mortgage market, recently roiling Wall Street and helping push the Dow Jones average to its lowest levels in more than four years.
There has been anxiety in the financial markets that the distress could spill over into the broader economy.
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