Why would they buy you anything? With ALL the NEEDLESS BORROWING it is clear that STATE GOVERNMENTS WORK for BANKS!!!!
"Bay State foreclosure figures on rise again; Mass. officials call for lender action as law's effect wanes" by Jenifer B. McKim, Globe Staff | October 23, 2008
The number of foreclosure petitions in Massachusetts more than doubled in September, just four months after the state passed a law intended to encourage lenders to renegotiate the loans of troubled homeowners, new data released yesterday show.
The law, which gave homeowners a 90-day break to save their mortgages, was touted by Governor Deval Patrick and Attorney General Martha Coakley as a way to push lenders to take the extra time to restructure as many loans as possible.
"It put off, for 90 days, foreclosure but it didn't really solve the problem," Coakley said yesterday. "The voluntary thing hasn't worked no matter what the big institutions are saying. We haven't seen results."
As thousands more families lose their homes to foreclosure in Massachusetts, government officials and housing experts again are calling for more systematic efforts to help distressed borrowers.
So YOU shelled out $700 BILLION for WHAT exactly, Amurka?
See: Healthy Banks to Get Bailout Bill Loot
Government-Funded Golden Parachutes
US Representative William Delahunt, who held a briefing in the State House yesterday to focus on the mortgage crisis, called for the revival of a proposal to allow bankruptcy courts to modify the terms of predatory mortgage loans. The plan was rejected in the federal bailout package approved earlier this month, but Delahunt hopes to revive it in the new stimulus package being discussed in Congress.
And yet, the MSM and government (including dumbocraps) made it sound like that's what the bill was doing!! Aaaah!! Hey, what is ONE MORE LIE to CHEW ON, 'eh, Amurkn shit-eaters?
Coakley said: "The people who made the mistakes, who screwed this up, are now getting a huge benefit." --more--"
AS PLANNED!!!!
And, umm, yeah, we KNEW THAT GOING IN -- which is why we FLOODED CAPITOL HILL in OPPOSITION, Martie!!!!!!
And you see what happened. Time for some rope, damn it!!!!!!!!!!!!
