Posted by
Jo on Wednesday, October 15, 2008 9:08:56 AM
Obama co-sponsored legislation called the “Helping Families Save
their Homes in Bankruptcy Act of 2007”-- that was supported by ACORN
and protects them.
Helping Families Save their Homes in Bankruptcy Act, S.2136, was
introduced in the Senate by Illinois Senator Richard Durbin over a year
ago, on October 3, 2007. It was co-sponsored, by Obama and 12 other Democrats,
including Vice Presidential hopeful, Joe Biden, and Chairman of the
Senate Banking, Housing, and Urban Affairs Committee, Senator
Christopher Dodd.
http://www.canadafreepress.com/index.php/article/5548
Obama and company have been setting up a win/win scenario. Using his senate seat to protect ACORN, then paying ACORN $800,000 to get the vote out, and the fact ACORN has commited voter fraud should be a clear signal to the justice department to look into this matter. Why aren't they?
Then this article goes on to say:
According to a Senate transcript, Durbin stated: “It is true that some
families knowingly stretched a bit to buy more house than they should
have. But many families were sold mortgages they couldn’t afford by
unscrupulous brokers... This bill is supported by the AARP, ACORN,
AFL-CIO and SEIU, the Center for Responsible Lending, the Consumer
Federation of America, NAACP and La Raza, the National Association of
Consumer Bankruptcy Attorneys, the National Community Reinvestment
Coalition…”
Buyer Beware, if you can afford it don't get the loan. If you don't understand the terms of a loan get legal advice. Personal responsibility. REGULATION caused this, if you tell banks they must meet quotas for minorities, then they will loan to people who don't understand the loans, to do what the law says. WHOS fault is it? Not the banks, it's the legislators, and the people who go into a deal blind. Oversight and re-regulation as McCain and Bush tried to do would have stopped this from happening.
Many factors had a hand in this mess, but the bulk of it falls on the very people who now say if you vote for them they will fix it. 50% of America is not that stupid, I hope!