I emailed an old freind that BK'd back in 2002 and she is alittle on the political

[epiphany]

It is true without Biden's support in the Senate that it would not have passed. Without the Democrats in the House it also would not have passed there. It was a collective agreement between both R and D to pass the bill to appease their lobbyist friends. So both are to blame.

Some reform was needed. I had tried unsuccessfully to get provisions added by NC's delegation to also put more responsibility on creditor lenders, to ensure they were not making loans that people had no means to pay.....obviously that didn't make it into the bill and that really was the greatest failing of the bill. As they say takes two to tango....

It's also true that his son was working as a consultant for MBNA, one of the largest lobbiests for the bill, at the time. Not pushing an agenda here, I don't have one, just stating a fact and I posted before that I found this curious.

ep

[keepmine]

And, don't forget that this was the 2nd time bk reform passed both houses of Congress. Late in 2000, it passed and former President Clinton vetoed it.
I wonder, if the democrats win if, they will try and amend the bk code to allow mortgages to be modified by bk judges? I think there's a better chance of that happening since, the treasury just can't throw more money at buying individual mortgages and, we got to put a bottom in the housing market in a hurry. This way, homes may be saved and there'll be no expense to the gov't.

[Flamingo]

It's also true that his son was working as a consultant for MBNA, one of the largest lobbiests for the bill, at the time. Not pushing an agenda here, I don't have one, just stating a fact and I posted before that I found this curious.

ep

___________________________________
The big banks have all the politicians in their pocket. R and D both, you just don't hear or know about most of it; Biden is the Senator for DE which incorporates most of the big national banks so of course they are going to take care of them in that state; so would yours or anyone else's - it's big megabucks to the state. Delaware is a small state and everyone knows everybody in the business and political world there. I have relatives in that state and I gotta say their politicians take care of that state and the people in it so since there is a DE politician running on the national ticket, you can bet that will get extended to the folks all over the US. Just my opinion from many years of observations, including the lobbying and years to get the new BK bill through; remember in politics if that bill included any link to favor prize bull breeding in TX, the TX politicians would have been lobbying for it hook, line and sinker also...

[Flamingo]

And, don't forget that this was the 2nd time bk reform passed both houses of Congress. Late in 2000, it passed and former President Clinton vetoed it.
I wonder, if the democrats win if, they will try and amend the bk code to allow mortgages to be modified by bk judges? I think there's a better chance of that happening since, the treasury just can't throw more money at buying individual mortgages and, we got to put a bottom in the housing market in a hurry. This way, homes may be saved and there'll be no expense to the gov't.

__________________

If anything like that should occur it will take years and years and by that time most of the mess from this predatory lending mortgage crisis will be over and any folks having a mortgage and having to file BK in the future will be in way different positions than the situation now and lending practices over the next several years will change dramatically. Right now what will occur is the banks holding those mortgages trying to work with folks to lower interest on their present mortgages to keep to keep payments down so they can remain in the house and keep paying the mortgage; however, if there is a job loss, that is a whole other ballgame to keeping a house. I don't think mortgagors are going to give houses away. Lots of issues in this economy and it's a mess for everyone.

[chloe0724]

I don't think they will change the BK laws in the next 4 years. What would happen to all the 13 people who filed before if they do let bk judes modify loan?

[holding on]

Good thing I wasn't spreading any lies to push my political agenda.

But bad thing you are interjecting your opinion that has nothing to do with the topic just so you can push your political agenda. Truly understanding bk is difficult enough without people (that's people general) trying to single out someone for blame when everybody had a hand in it.

[ready2puke]

Geez get over yourself

But bad thing you are interjecting your opinion that has nothing to do with the topic just so you can push your political agenda. Truly understanding bk is difficult enough without people (that's people general) trying to single out someone for blame when everybody had a hand in it.

This is a message board and people can give their opinion (you included) but your really being a butt here. And thats my opinion!