Post by unlawflcombatnt on Aug 9, 2007 4:29:58 GMT -6
Hillary Clinton, along with some of her Senate colleagues, have proven what Corporate whores they've become. Several Senate Democrats have indicated a willingness to throw a lifeline to their biggest (and richest) campaign contributors. In this case, it's the Housing and Financial Industry con-artists. Below are excerpts from an article describing their new found whoredom, titled:
Democrats call for action on mortgage crisis
By Andrew Ward and Stephanie Kirchgaessner
8/7/07
"Influential Democratic senators on Tuesday called for Fannie Mae and Freddie Mac, the government-sponsored mortgage companies, to be given a bigger role in efforts to stabilise the troubled US mortgage market.
Chris Dodd, chairman of the Senate banking committee, and Chuck Schumer, chairman of the Senate subcommittee on housing, supported the lifting of investment caps on the companies.
Hillary Clinton, the New York senator and Democratic presidential frontrunner, also urged expansion of the mortgage groups.
The comments added to growing hope among investors that Fannie and Freddie would be freed to buy more mortgages from struggling lenders, easing the crisis in the subprime sector....
“It may be appropriate, consistent with safe and sound practices as determined by the regulator, to ease the temporary regulatory cap on Fannie and Freddie’s mortgage portfolio,” said Mr Dodd.
Such a move would “allow Fannie Mae and Freddie Mac to provide needed stability to the secondary mortgage market”, said Mr Schumer.
Mrs Clinton proposed expansion of the groups among measures to tackle weaknesses in the mortgage market and support homeowners.....
Mrs Clinton said fixing the mortgage crisis would be among the priorities of Democratic lawmakers when Congress returns.....
Steve O’Connor, senior vice-president for public policy at the Mortgage Bankers Association, said there were signs that Democratic lawmakers could favour a bail-out of homeowners, but that such a proposal would be mired in difficulties.
“You have to think of who you are bailing out and are you really helping who you intend to help?” he said. “A lot of loans going bad are held by speculators – you can argue that you shouldn’t be bailing out speculators.”
One banking lobbyist in Washington said the idea of a bail-out had been rejected because of its cost. He predicted disagreement among Democrats because Barney Frank, chairman of the House financial services committee, would support a measure assigning liability on some of the big trading houses, whereas Mr Dodd, his Senate counterpart, would not.""
At least some Democrats (i.e., Barney Frank) aren't wholeheartedly supporting a bank and speculator bailout. In contrast, Clinton and Dodd are all in favor of the government bailing out their rich campaign contributors.
Just another reason not to vote for Clinton, who's never met a rich campaign contributor she wouldn't sell out to.
At least John Edwards hasn't joined in with these latest Corporate Welfare proposals.
Democrats call for action on mortgage crisis
By Andrew Ward and Stephanie Kirchgaessner
8/7/07
"Influential Democratic senators on Tuesday called for Fannie Mae and Freddie Mac, the government-sponsored mortgage companies, to be given a bigger role in efforts to stabilise the troubled US mortgage market.
Chris Dodd, chairman of the Senate banking committee, and Chuck Schumer, chairman of the Senate subcommittee on housing, supported the lifting of investment caps on the companies.
Hillary Clinton, the New York senator and Democratic presidential frontrunner, also urged expansion of the mortgage groups.
The comments added to growing hope among investors that Fannie and Freddie would be freed to buy more mortgages from struggling lenders, easing the crisis in the subprime sector....
“It may be appropriate, consistent with safe and sound practices as determined by the regulator, to ease the temporary regulatory cap on Fannie and Freddie’s mortgage portfolio,” said Mr Dodd.
Such a move would “allow Fannie Mae and Freddie Mac to provide needed stability to the secondary mortgage market”, said Mr Schumer.
Mrs Clinton proposed expansion of the groups among measures to tackle weaknesses in the mortgage market and support homeowners.....
Mrs Clinton said fixing the mortgage crisis would be among the priorities of Democratic lawmakers when Congress returns.....
Steve O’Connor, senior vice-president for public policy at the Mortgage Bankers Association, said there were signs that Democratic lawmakers could favour a bail-out of homeowners, but that such a proposal would be mired in difficulties.
“You have to think of who you are bailing out and are you really helping who you intend to help?” he said. “A lot of loans going bad are held by speculators – you can argue that you shouldn’t be bailing out speculators.”
One banking lobbyist in Washington said the idea of a bail-out had been rejected because of its cost. He predicted disagreement among Democrats because Barney Frank, chairman of the House financial services committee, would support a measure assigning liability on some of the big trading houses, whereas Mr Dodd, his Senate counterpart, would not.""
At least some Democrats (i.e., Barney Frank) aren't wholeheartedly supporting a bank and speculator bailout. In contrast, Clinton and Dodd are all in favor of the government bailing out their rich campaign contributors.
Just another reason not to vote for Clinton, who's never met a rich campaign contributor she wouldn't sell out to.
At least John Edwards hasn't joined in with these latest Corporate Welfare proposals.