“…lawmakers defeated a mortgage “cram-down” amendment that would have given federal judges the power to lengthen mortgage terms, cut interest rates and reduce loan balances for homeowners in bankruptcy court.”
∙ Mortgage ‘Cram-Down’ Bankruptcy Amendment Fails in U.S. House [Bloomberg]
∙ JustQuotes: SocketSite Says…The Senate Gets One Right (So Far) [SocketSite]
Slovenly reporting by Bloomberg and repeated by SS. 71 of the nay votes were cast by democrats, with more than 20% of the House dems not voting. Interesting though that it looks like Ron Paul was one of 4 republicans to cast an aye vote.
[Editor’s Note: As it’s the legislation rather than partisan slant which is our focus, ellipses have been slovenly inserted where Bloomberg’s “Republican” used to be.]
Yes…take the power away from “the man”