[delapaz]

You’re missing a lot.

This has nothing to do with being able to foreclose or not.

This has everything to do with a bank’s solvency, and whether the FDIC needs to step in and close them under the law.

Previously this law allows the bank to seriously inflate the assets on their books. Loans backed by collateral are counted very differently than loans with no collateral.

This is all fine if you don’t care about sound banking.

Oh and obviously the executives of these banks get bonuses based on these numbers. They have every incentive to lie about their balance sheets, and now it’s not even a crime!

Bailouts will be needed to fix this when it all inevitably blows up, and yes, stopping bailouts was what the tea party was all about.

[Aevery_Freeman]

I recognize that you wish to kill all the bansters but Fannie Mae and Freddie Mack, excuse me; the F-ing Congress, Bill Clinton, Jimmuh Carter and the race baiters like Jesse Jackson and B. H. Obama created this mess.

This legislation seems to be designed to help the little guy keep his head above water in the government-created cesspool he finds himself in.

You can always assign evil motives if you look hard enough.

Happy Memorial Day.

[Lorianne]

Stopping bailout was what the tea party USED TO be about.

They had a winning issues and diluted it to almost nothing. (I am talking about the the self appointed ‘leaders’ of the tea party).

It is up to US to keep up the heat on everyone, including and especially those who were elected under a tea party banner.