FASCISM |
"We the corporations" On January 21, 2010, with its ruling in Citizens United v. Federal Election Commission, the Supreme Court ruled that corporations are persons, entitled by the U.S. Constitution to buy elections and run our government. _________________________________ MOVE to AMEND
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Financial and housing industries paid lobbyists more than $42 million to defeat mortgage cram-down legislation.
OPS_admin | May 05, 2009 | Comments 0
Financial and housing industries paid lobbyists more than $42 million to defeat mortgage cram-down legislation.
Last week, the Senate voted 45-51 to defeat a proposal to change bankruptcy law and allow bankruptcy judges to cram-down mortgage payments. As Pat Garofalo has explained, cram-downs help homeowners by enabling these judges “to lower mortgage payments for those who owe more than their home is worth and have exhausted all other options.” Prior to the vote, Sen. Dick Durbin (D-IL) — who sponsored the amendment — took the floor and decried the powerful banking industry that was working to defeat the provision. Indeed, as Jane Hamsher now reports, lobbyists received more than $42 million to defeat such legislation this year:
A review of lobbying reports filed indicates that finance, insurance and real estate (FIRE) interests paid over $42 million to lobbyists who worked to defeat mortgage write-down in bankruptcy (cramdown) in the first quarter of 2009, as well as other anti-consumer legislation such as capping credit card interest rates.
Filed Under: Corruption
