On Jul 16, 2012, at 5:39 PM, Robert Naiman wrote:
California Gold Rush? Righting Underwater Mortgages http://truth-out.org/news/item/10352-california-gold-rush-righting-underwater-mortgages
Baker, an Obama supporter, cries [crocodile] tears over the failure of "Congress" to permit bankruptcy discharge of mortgage debt. But it was Obama, not "Congress," that refused to propose legislation to permit bankruptcy discharge. If he had, it would have easily passed the 2009-2011 session when he had an overwhelming congressional majority, even if a 24/7 talking filibuster had to be broken. Instead Obama went for a succession of cockamamie schemes like that which Baker is shilling for. Does Baker have any idea of the cost of opposed condemnation proceedings for each and every underwater mortgage (even if the unprecedented use of eminent domain for financial instruments were to be upheld by Roberts & co.)?
Shane Mage "Thunderbolt steers all things." Herakleitos of Ephesos, fr. 64
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