Last week i posted how hillary said the fed needs to step in and band aid the subprime mortgages. she did this within hours of the treasurer saying thats what he was doing.
This week Hillary telling wall street regulation of mortgage industry.. ummm again already being talked about.
this woman will make 100K off of 1K on her first investments, chelsy born via immaculate conception, shoot 11 holes in 1 her first time golfing..
The parallels with the dear leader of NK are striking with her.. haha
Sen. Hillary Clinton (D-N.Y.) is threatening Wall Street with regulation of the mortgage investments that proved so lucrative in recent years, saying financiers bear part of the responsibility for the sudden spike in foreclosures suffered by homeowners hit with big payment increases.
“Wall Street helped create the foreclosure crisis, and Wall Street needs to help solve it,” she says in remarks prepared for delivery Wednesday afternoon at the NASDAQ MarketSite in Times Square.
Also, with the administration putting the final touches on a relief plan negotiated with the industry, a White House official said President Bush will make a statement on housing issues on Thursday afternoon.
Clinton, whose remarks were organized by her presidential campaign, was in the unusual position of taking on her own constituents, as all the Democratic candidates scramble to show they have a plan to deal with a problem that is exploding for middle-income families.
In excerpts released by her campaign, she says that responsibility for the foreclosure crisis is shared by “Wall Street, which not only enabled but often encouraged reckless mortgage lending” with a “'see no evil’ policy that financed irresponsible mortgage lending.”
“Mortgage lenders didn’t have balance sheets big enough to write millions of loans on their own,” she said. “Wall Street originated and packaged the loans that common sense warned would end in foreclosure. Some people might say Wall Street only helped distribute risk. I say, Wall Street shifted risk away from the people who knew what was going on and onto the people who didn’t.”
Clinton repeated her call for a voluntary agreement that would call for a moratorium of at least 90 days on foreclosures of subprime, owner-occupied homes; a freeze on the monthly rate on subprime adjustable rate mortgages, with the freeze lasting at least five years or until the mortgages have been converted into affordable, fixed-rate loans; and an agreement by the industry to provide status reports on the number of mortgages it is modifying.
“If we cannot reach a voluntary agreement [with Wall Street], I will consider legislation to address the problem,” she says in her text. “Mortgage servicers can work with borrowers to modify their mortgages. In the process, they can save families their homes, save investors from losses down the road, and help the economy. ... So I am prepared to consider giving legal protection to servicers and others who administer these loans and who do the right thing by balancing the interests of the homeowners, the investors, and our economy.”
This week Hillary telling wall street regulation of mortgage industry.. ummm again already being talked about.
this woman will make 100K off of 1K on her first investments, chelsy born via immaculate conception, shoot 11 holes in 1 her first time golfing..
The parallels with the dear leader of NK are striking with her.. haha
Sen. Hillary Clinton (D-N.Y.) is threatening Wall Street with regulation of the mortgage investments that proved so lucrative in recent years, saying financiers bear part of the responsibility for the sudden spike in foreclosures suffered by homeowners hit with big payment increases.
“Wall Street helped create the foreclosure crisis, and Wall Street needs to help solve it,” she says in remarks prepared for delivery Wednesday afternoon at the NASDAQ MarketSite in Times Square.
Also, with the administration putting the final touches on a relief plan negotiated with the industry, a White House official said President Bush will make a statement on housing issues on Thursday afternoon.
Clinton, whose remarks were organized by her presidential campaign, was in the unusual position of taking on her own constituents, as all the Democratic candidates scramble to show they have a plan to deal with a problem that is exploding for middle-income families.
In excerpts released by her campaign, she says that responsibility for the foreclosure crisis is shared by “Wall Street, which not only enabled but often encouraged reckless mortgage lending” with a “'see no evil’ policy that financed irresponsible mortgage lending.”
“Mortgage lenders didn’t have balance sheets big enough to write millions of loans on their own,” she said. “Wall Street originated and packaged the loans that common sense warned would end in foreclosure. Some people might say Wall Street only helped distribute risk. I say, Wall Street shifted risk away from the people who knew what was going on and onto the people who didn’t.”
Clinton repeated her call for a voluntary agreement that would call for a moratorium of at least 90 days on foreclosures of subprime, owner-occupied homes; a freeze on the monthly rate on subprime adjustable rate mortgages, with the freeze lasting at least five years or until the mortgages have been converted into affordable, fixed-rate loans; and an agreement by the industry to provide status reports on the number of mortgages it is modifying.
“If we cannot reach a voluntary agreement [with Wall Street], I will consider legislation to address the problem,” she says in her text. “Mortgage servicers can work with borrowers to modify their mortgages. In the process, they can save families their homes, save investors from losses down the road, and help the economy. ... So I am prepared to consider giving legal protection to servicers and others who administer these loans and who do the right thing by balancing the interests of the homeowners, the investors, and our economy.”
