Results 1 to 3 of 3

Thread: Frank threatens banks to stop foreclosures

  1. #1
    Sage
    Renae's Avatar
    Join Date
    Aug 2007
    Location
    San Antonio Texas
    Last Seen
    10-23-17 @ 10:14 PM
    Gender
    Lean
    Undisclosed
    Posts
    38,972
    Blog Entries
    15

    Frank threatens banks to stop foreclosures

    WASHINGTON (AP) - A senior House Democrat threatened banks Wednesday that if they don't volunteer to save more homeowners from foreclosure, Congress will make them.
    In a sternly worded statement, Rep. Barney Frank said Congress will revive legislation that would let bankruptcy judges write down a person's monthly mortgage payment if the number of loan modifications remain low.

    Frank, chairman of the House Financial Services Committee, also said his committee won't consider legislation to help banks lend unless there is a "significant increase" in mortgage modifications.
    Frank threatens banks to stop foreclosures


    Barney Frank; Political will trying to trump reality...

    Barney Frank and the rest of Congress need to GTFO of the economy, and let the system work as intended, instead of trying to bend it to their political needs.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



  2. #2
    Battle Ready
    Grim17's Avatar
    Join Date
    Jul 2009
    Location
    Southwestern U.S.
    Last Seen
    Today @ 01:45 PM
    Gender
    Lean
    Conservative
    Posts
    24,137
    Blog Entries
    20

    Re: Frank threatens banks to stop foreclosures

    Isn't this the same guy who claimed there was no problem with Fannie and Freddie back in 2003? If I understand this article correctly, Barney Frank is telling banks that they have to suck it up and take a loss, or congress is going to go after them.

    Wasn't it democratic meddling in the banking industry in the late 90's, forcing banks to take on so many risky loans, that is a major reason we are in the mess we're in today?

    In my estimate, the government is responsible for the economic crisis we're now in, yet they still think they are the answer. The government needs back off and allow the free market to work.

    .

  3. #3
    dangerously addictive
    americanwoman's Avatar
    Join Date
    Jul 2005
    Location
    Somewhere over the rainbow
    Last Seen
    Today @ 12:33 PM
    Gender
    Lean
    Independent
    Posts
    17,435

    Re: Frank threatens banks to stop foreclosures

    What kind of crack are they smoking in MA again?
    I call my own shots, largely based on an accumulation of data, and everyone knows it.
    _____________________________________________

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •