Clinton: Protect Reputable Home Lenders

[lligrd]

Source: Associated Press

PHILADELPHIA - Democrat Hillary Rodham Clinton proposed several remedies to the nation's home mortgage problems Monday, including one tool more often associated with Republicans than Democrats.

The New York senator proposed greater protections for lenders from possible lawsuits by investors, a variation of so-called tort reform. For years, GOP leaders have called for restrictions on what they consider unwarranted lawsuits against businesses. Democrats have often resisted them on grounds they limit injured parties' legitimate rights to redress.

Many mortgage companies are reluctant to help families restructure their mortgages because they're afraid of being sued by the investment banks, the private equity firms and others who actually own the mortgage papers," Clinton said in what she billed as a major address on the economy at the University of Pennsylvania.

"This is the case even though writing down the value of a mortgage is often more profitable than foreclosing," she said. Clinton said she would offer legislation "to provide mortgage companies with protection against the threat of such lawsuits," but provided no further details.




Read more: http://news.yahoo.com/s/ap/20080324/ap_on_el_pr/clinton_housing;_ylt=ArJGOJpTQWQDzJTDN5eVAz.s0NUE

[DJ13]

1. tool more often associated with Republicans

She's betraying Democratic principles by trying to shield the fraudulent activity the banks have done from lawsuits by investors.

This is a straight up case of seeking to protect corporate interests over the rights of the investor to seek redress of grievances through our court system.

Tell me again why she's registered as a Democrat?

[Demobrat]

2. And who, exactly, decides who's "reputable",

and on what basis? Campaign donations?

[proud2BlibKansan]

3. A truly progressive politician would think of the families before the mortgage companies

Just sayin . . .

[AzDar]

4. Ack. First calling upon Greenspan to help solve the mortgage mess, to THIS gem...

gotta wonder, is it "Kill Your Candidacy Day", or "Reveal Yourself To Be A Republican Day"?

:shrug:

[pattmarty]

5. It figures. Protect the banks and Wall st.

[Rubiconski2009]

6. Clinton wants to bail out the finance companies

...that made bad loans, and have the middle class taxpayer eat the bill!

"Big business loves Hillary", but to the average joe she is just another take from the poor give to the rich republican at heart.

[Acadia Blue]

8. Why is Bill Clinton talking up Pig JOhn McCAin? Trying to destroy

the Democrat party if Hill does not get the nomination?

[Orsino]

7. Protect Americans, goddan it.

I'm glad she's hinting at some sort of litmus test for lenders, but can politicians who vote for or won't repeal the bankruptcy bill be trusted?

[stillcool]

9. Those poor mortgage companies...

need protection from 'we the people'.