Senate Action on 'Cramdown' Bill Delayed

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best fish oil of AL 5:24AM August 04, 2011

This is one of the guys that gave $$$ to kyl.see the reuters article
The father of the money market mutual fund -- investor Bruce Bent -- was charged with fraud by U.S. regulators on Tuesday over accusations he deceived investors into believing his flagship fund was safe before it "broke the buck" last year.
The civil charges against the veteran money manager, his son and their investment company come eight months after the Reserve Primary Fund, loaded with Lehman Brothers debt, halted redemptions after the investment bank declared bankruptcy, sparking a run on money-market funds.
The fund is being liquidated and its collapse has spurred numerous lawsuits. Its demise has been a stunning turn for Bent, who regulators called "the public face" of the fund and "a longtime advocate of the safety and stability of money market funds."
The SEC said that since it was created in 1971, the Primary Fund historically invested in very conservative assets such as government securities and bank certificates of deposit.
But, starting in 2007 and 2008, the fund began to purchase riskier commercial paper issued by financial firms including Lehman, Merrill Lynch and Washington Mutual, with the higher yields paid by these securities generating attractive returns for fund shareholders, the SEC said.
KYL keeps supporting these guys to.

joe johnson of AZ 5:49PM May 06, 2009

It really is ashamed, i can barely sit here and think how sick and cowardly these traitors are. It's clearly posted and recorded exactly how many millions these banks and financial institutions contributed to these elections to put these traitors into office. But the president nor anyone from the justice department has anything to say about tampering with these proceedings to influence the results of these votes. So this tells me that even our supreme court justices, house reps. governors,law enforcement and all other elected officials are more than likely corrupt and being bought and paid for by anyone with power and money. And they don't even try to hide it anymore, they just push it in our face and say take it. I do hope that when the elections come back around that we take the necessary steps to show these traitors that while these banks can produce millions of dollars for them, that they can only produce a limited number of votes. And on the other hand as a united force we can generate millions of votes to unseat them, and send the clear message that they don't get away with what they have done.Also where was our president when we needed him to lobby for us, getting his MULTIbillion dollar bill passed so that he can PAD the pockets of more failing institutions, only to tell us "NO" !!!!

j.thomas of NC 6:43PM May 02, 2009

It appears the senate will succumb to the banks and vote down the cram down provision. The wave of bankruptcies that follow will dwarf what we've seen so far. Many people have been holding out hope for this alternative and will file as soon as they can get the paperwork done. They will immediately stop making their payments if they haven't already. As prices continue to drop even more people will go underwater on their mortgages and the cycle will continue.
These people won't forget who voted this down when the next election comes. In addition, the price decline will accelerate on all homes and the folks who don't lose their property will also vote these traitors out of office the next chance they get.

JRTW of FL 10:58AM April 30, 2009

Home foreclosures continue as does the bickering in the congress, more than likely paid for end -fighting from our tarp money continues. Foreclosure, foreclosure, and Bank of America making millions from intentionally hold items presented to the bank for payment until there is an intentional overdraft collection of major windfall profits from consumers causes me great concern. Seems lobbyist need to pack their bags and go home, their intent as well as the banking industry who's need for greed has put us all in this mess. Let banks fail where they need too so the rest will see they will not be bailed out when ever the need arises. Stop the foreclosures with what ever it takes so we can upright this overturned financial mess we have been forced into!

dennisrose of GA 8:10AM April 30, 2009

This bill was presented to the Senate on the 27th of April and will be voted on this week. It's not over yet Joe...

Carla of CA 4:24PM April 29, 2009

I HAVE BEEN CONSTANTLY CALLING, AND TELLING SENATORS
TO VOTE FOR THIS BILL. I HAVE TOLD THEM I'M WATCHING
EACH VOTE, AND WILL POST ONLINE SO THE VOTERS CAN
SEE WHO IS FOR THEIR VOTERS, AND WHO IS BEING PAID
BY BANK LOBBYIEST. WHO HAS SOLD THEIR SOUL TO A BANK
LOBBYIST. MAKE NOISE......

KATEB of IN 1:38PM April 29, 2009

So Specter is now a Dem. Right now this is only slightly helpful. When a bill goes before Congress it needs a simply majority to pass. Unfortunately, there is a step in between. This particular bill is being offered as an ammendment to another housing bill. In order for the ammendment to be considered, it'll take 60 votes. Otherwise, they can't stop debate to get to a vote and the bill will be in fillibuster pergatory for a very long time. Franken's case is going before the MN supreme court which has scheduled oral arguments for the beginning of June. He will be seated but it's going to take more time than most of us have. What needs to happen now...like today? Start by inundating Specter's office with emails and phone calls about this bill. All contact is helpful but anyone from PA is going to hold particular weight. Basically we just need Specter to agree to let the bill go to a general vote, he can vote against it if he chooses once it gets that far. That alone isn't going to solve the problem. Right now the Dems have a 59 vote majority in the Senate if you include Specter...one short of the 60 they need to stop debate on the bill. That means every dem and at least 1 repub needs to vote for cloture to get this bill to a vote. Right now the votes for that don't appear to be there. We need Specter. We still need Tim Johnson of SD, Evan Bayh of IN, and Bill Nelson of NE. Also, the dem Seantor from LA has come out as a tentative no. These folks need to hear our voices TODAY!!!! We will then need a single republican vote. The pickings are few in that area. Maybe Martinz or FL since his state has a huge foreclosure rate or Ensign of NV. If there is any hope of getting this passed and soon it is going to be absolutely inundating these Dem Senators and a few select Repub senators with calls and emails. Just ask them to vote for cloture, if the bill gets to the floor it should get a majority vote and pass.

sara of CA 11:23AM April 29, 2009

Let's hope that Senator Specter will now vote for homeowners now that he has joined the party of YES. We need Al Franken from Minnesota as well but the loser in that election (another RIPublican) just won't give in to a fair election;he wants to challenge the decision once again. Sixty votes swings in the balance for my wife and I to retain our home. We don't have lobbyist funds to buy votes but we pay taxes and we vote.
Our mortrgage company will not modify our loan IN ANY WAY. Theye prefer foreclosure to improve their tax liability. Sounds like typical AIG (American Investor Greed).

JEFF SHADOW of CA 10:59AM April 29, 2009

This is it...a couple more days to send e-mails and make phone calls. Let's stay positive and do our best to get this bill passed. If it fails, I will lose my home. My family is already under so much strain. My life savings is in this house. For many of us, the banks simply put us on hold, drop our calls and refuse to answer letters. This is our last hope. This bill could save us. Let's do our best to try to make it happen.

HELPINGFAMILIES of CA 12:38AM April 28, 2009