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January 26, 2009

Opposition to New Mortgage Bill Lining Up

According to an Associated Press Article yesterday,

The chief lobbyist for the Mortgage Bankers Association, Steve O'Connor, said new homebuyers would end up paying higher interest and bigger down payments if lenders are saddled with the risk that a judge could change mortgage terms.

"We're going to defend the industry" against "bad public policy," O'Connor said.

The association's 23-member government affairs team is trying to persuade lawmakers to kill the bankruptcy legislation. The team includes six lobbyists and nine policy experts who double as lobbyists, said O'Connor, senior vice president of government affairs.

January 26, 2009 in Legislation | Permalink

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Comments

Do the banks use tarp money or do they take the money from the 30% credit card interest accounts to pay lobbyists to fight people in bankruptcy? Just because someone is bankrupt doesn't mean that you have to try to help them. Kick 'em when there down- Kick 'em when there down- just kick them.
Do lawmakers report campaign contributions from lobbyists as graft on their tax returns?

Posted by: tod lotz | Jan 28, 2009 1:45:06 PM

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