It’s Sen. Durbin and Distressed Homeowners Versus the Mortgage Bankers Association. Rematch To Come?
OPS_admin | May 01, 2009 | Comments 0
It’s Sen. Durbin and Distressed Homeowners Versus the Mortgage Bankers Association. Rematch To Come?
A BUZZFLASH NEWS ANALYSIS – by Christine Bowman
Bail out the bankers, but not homeowners? See how it went down in the Senate despite Dick Durbin’s considerable fight. — “And the banks … they frankly own the place.”
IL Democratic Senator and Majority Whip Richard Durbin minced no words but expressed major frustration this week as the banking lobby, 12 weak-kneed or complicit Democratic senators, and the entire GOP bloc in the Senate said “no” to offering options to help financially distressed American homeowners keep the roofs over their heads. Durbin was sponsor of an amendment derisively characterized as “cramdown” by mortgage bankers who fought against it ferociously and effectively.
Real News Network offers this maddening glimpse into the lobbying behemoth that killed the measure:
Filed Under: odds & ends
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If we don't change our ways soon...
A new report by the Royal Society, chaired by Nobel prize-winning biologist Sir John Sulston warns that world population must be stabilized and consumption in wealthy nations must be reduced or the entire planet is in big trouble. As the report reads: "The number of people living on the planet has never been higher, their levels of consumption are unprecedented and vast changes are taking place in the environment. We can choose to rebalance the use of resources to a more egalitarian pattern of consumption... or we can choose to do nothing and to drift into a downward spiral of economic and environmental ills leading to a more unequal and inhospitable future."This is the same warning that President Jimmy Carter gave Americans back in the 1970's - but it was ignored when Ronald Reagan came to power with a "more positive" message basically telling Americans we can do whatever we want. And then after 9/11 - Bush told us all we should go shopping and consume ever more.And now with corporations calling the shots in Washington - long-term sustainability of the planet takes a back seat to short-term profits. If we don't change our ways soon - and embrace clean, alternative energy and educate women around the plant - then we all could be headed for a rough century.-Thom(Is there any chance we will learn in time? Tell us here.) -
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