Treasury Skips "Cramdown" Hearing
The Washington Independent:
Hoping to bring "cramdown" legislation back onto Congress' radar, a House Judiciary subpanel met this afternoon to re-examine whether bankruptcy judges should be empowered to alter mortgage loans in order to prevent foreclosures.
Witnesses included the obligatory consumer advocates, a conservative think-tanker and a university professor. But the Treasury Department, although asked to send a representative of its own, declined to do so.