“…lawmakers defeated a mortgage “cram-down” amendment that would have given federal judges the power to lengthen mortgage terms, cut interest rates and reduce loan balances for homeowners in bankruptcy court.”
Mortgage ‘Cram-Down’ Bankruptcy Amendment Fails in U.S. House [Bloomberg]
JustQuotes: SocketSite Says…The Senate Gets One Right (So Far) [SocketSite]

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Comments from “Plugged-In” Readers

  1. Posted by anon

    Slovenly reporting by Bloomberg and repeated by SS. 71 of the nay votes were cast by democrats, with more than 20% of the House dems not voting. Interesting though that it looks like Ron Paul was one of 4 republicans to cast an aye vote.
    [Editor’s Note: As it's the legislation rather than partisan slant which is our focus, ellipses have been slovenly inserted where Bloomberg's "Republican" used to be.]

  2. Posted by Rincon Hill Billy

    Yes…take the power away from “the man”

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