"Unyielding" banks on mortgage cramdowns first in line for federal money says Durbin

[xiamiam]

snip
"The groups that are leading the charge against me on this are familiar names on Capitol Hill. The Mortgage Bankers Association, the people who brought us this wonderful subprime mortgage crisis," said Durbin, adding, "the Financial Services Roundtable, the biggest names in financial services in this nation, the ones that have had their hands out for federal money, opposed this idea of helping people facing foreclosure. And the American Bankers Association. What a disappointment. What a disappointment that a great association like that, representing so many good banks, would not even sit down at the table to discuss this provision. It's a source of great disappointment to me because as a congressman and senator I work with them on so many issues."

The ABA left the negotiating table several weeks ago and has been furiously lobbying against the bill.

"I've never found them more unyielding and unreasonable than on this issue. They say, 'Don't worry about it, Senator. We're experts, we're going to handle it. Don't tell us what we need to do.' Well, many of those same banks are the first in line when it comes to federal money," said Durbin.

more at link

http://www.huffingtonpost.com/2009/04/27/bankruptcy-bill-watered-d_n_191998.html

[xchrom]

1. recommend

[Howardx]

2. wtf?

just do it without the goddamn lobbyists already!

[xiamiam]

3. what are the chances they're not using tarp money to lobby?

[barbtries]

4. nil

the motherfuckers

[LeftHandPath]

5. 'compromise was supported by Citigroup, which has been at the negotiating table'

Citigroup is at the negotiating table?

What the hell for? Who is negotiating on behalf of the tax payer?

And what does Citi have to negotiate with? We friggn own them already.

More proof that we are the United Corporate States of America, a government by, of, and for the corporations.

Sickening.

[girl gone mad]

6. Why would they compromise or bargain?

This government has given them more than they ever asked for, more than they probably ever dreamed possible. The "SS Compromise" sailed a long time ago.

[xiamiam]

7. landrieu and bayh are two of the holdouts..call them

http://www.huffingtonpost.com/2009/04/28/two-key-dems-express-pess_n_192400.html

Landrieu, Mary L. - (D - LA) Class II
328 HART SENATE OFFICE BUILDING WASHINGTON DC 20510
[phone]
Web Form: landrieu.senate.gov/contact/index.cfm

[xiamiam]

8. i just called..would not take a call from me since im not from la..advised me to call the senators

from my state..my response.."but my senators think rationally"..