Bank lobbyists lean on Congress and defeat a key provision of new housing legisl
Posted by: admin in Real Estate and HousingFiled under: Politics, Housing
If you think the bank lobbyists don’t have any clout, think again. This time they beat down Congress on the new housing legislation. President Obama just looked the other way.
What’s this all about anyway? When President Obama signed the Helping Families Save Their Homes Act, there was a large and important piece of the bill missing. If you recall, President Obama tooted his horn about the housing bill, but he did not ensure that it had a “cramdown provision” in it, a provision that would have given judges the power to lower the amount owed on a home loan.
Bank lobbyists lean on Congress and defeat a key provision of new housing legislation originally appeared on BloggingStocks on Sat, 06 Jun 2009 16:10:00 EST. Please see our terms for use of feeds.
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