Cramdown

Auction 2012: How The Bank Lobby Owns Washington

HuffingtonPost.com | Dan Froomkin | Posted 01.30.2012

Read More: Financial Services, Auction 2012, Lobbying, Lobbyists, ATM Fees, Tom Harkin, Dick Durbin, Credit Card Rates, Bernie Sanders, Big Banks, Cramdown, Video, Sheldon Whitehouse, Bank Lobby, Banks, Financial Crisis, American Bankers Association, Brad Miller, Politics News

Auction 2012 is a weeklong series in collaboration with "The Dylan Ratigan Show" and United Republic. When Washington puts policy on the auction bl...

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Did Obama Break His Pledge to Force Banks to Help Homeowners?

The Huffington Post | Lila Shapiro | Posted 05.25.2011

Read More: Mortgages, Foreclosure Crisis, Economy, Financial Crisis, Banks, Bank Bailout, Housing Crisis, Cramdown, Home Foreclosures, Underwater Mortgages, Business News

Has Obama broken his pledge to help struggling homeowners facing the threat of foreclosure? ProPublica has a lengthy article out examining the way...

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Farm Loan Crisis of 1980s Demonstrates How "Stripdowns" Worked without Working

Dory Rand | Posted 05.25.2011

Read More: Foreclosure, Principal Writedowns, Bankruptcy, Loan Modifications, Judicial Modification, Cramdown, Business News

The longer this foreclosure crisis drags on, the clearer it is that voluntary loan modification programs are inadequate to meet the needs of millions of borrowers with homes worth less than the mortgages.

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For Whom the Bell Tolls: Making the Best Choice for Borrowers in a Bad Situation

Roberto G. Quercia | Posted 05.25.2011

Read More: Financial Security, Hamp, Strategic Defaults, Mortgage Defaults, Retirement, Cramdown, Housing Crisis, Business News

Despite efforts by industry and elected officials to discourage it, more and more borrowers may choose to exercise their option to default.

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Bank of America Now Supports Cramdown, Giving Judges Authority To Modify Home Mortgages (VIDEO)

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011

Read More: Foreclosure Crisis, The Financial Fix, Loan Modification, Mortgage Modification, Barney Frank, Bank of America, Mortgage Crisis, Homeowners, Cramdown, Financial Crisis, Judicial Modification, Brad Miller, House Financial Services Committee, Business News

Updated at 7:10 p.m. with new information. Bank of America, the nation's largest lender and its biggest bank by assets, now supports changing the la...

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Durbin Considers Cramdown-Related Amendment As Part Of Wall Street Reform

HuffingtonPost.com | Arthur Delaney | Posted 05.25.2011

Read More: Financial Regulatory Reform, The Financial Fix, Wall Street Reform, Judicial Modification, Cramdown, Cramdown Amendment, Durbin Cramdown, Politics News

Story updated -- see below: Senate Majority Whip Dick Durbin (D-Ill.) is considering amending Wall Street reform legislation to allow something simil...

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Will the Colorado U.S. Senate Campaign Be Driven by Money or Issues?

Michele Swenson | Posted 05.25.2011

Read More: Mortgage Cramdown, Andrew Romanoff, Political Powerbrokers, Consumer Financial Protection Agency, Grassroots Issues-Centered Campaign, Corporate Influence Peddling, Preemption of Primary Elections, Michael Bennet, Colorado U.S. Senate Race, Cramdown, Denver Democratic Central Committee Meeting, Denver News

The Democratic Party hierarchy's anointing of Michael Bennet as Colorado's senator in 2011 is viewed by many as a blatant attempt to trump choice by the people.

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LA's Housing Mess Not Likely to Be Fixed by Mortgage Modification Plan

Charles Feldman | Posted 05.25.2011

Read More: Mortgage Modification, Los Angeles Housing Market, Cramdown, Housing Crisis, Southern California Real Estate, Housing Bubble, Los Angeles News

The administration's $75 billion plan was supposed to aid millions of homeowners across the U.S., and thousands here in SoCal. It's become painfully obvious to me that the plan was a dismal failure.

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Let's Make a Deal: Beltway Edition

Michael Winship | Posted 05.25.2011

Read More: Richard Durbin, American Banking Association, Cap and Trade, Politics, Insttitute for Policy Studies, President Obama, Mortgage Crisis, Banks, Bank Bailout, US Chamber of Commerce, Cramdown, Campaign Finance, Business News

While executives are dancing with your dollars, the foreclosures they helped to bring on continue to rise. Many banks are dragging their feet, enjoying the bailout bucks but failing to spread them around.

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The Story That Made Me Tear Up My Prepared Speech at a Big Education Conference

Arianna Huffington | Posted 05.25.2011

Read More: Foreclosures, Education, Homeless Students, Homelessness, Homeless Schoolchildren, Homeless Families, Barney Frank, Banks, Education Reform, Cramdown, Obama School Speech, Politics News

Shouldn't we also be living in a country that can come together right now and bail out schoolchildren who, unlike Wall Street, are too small to be allowed to fail before they have been allowed to succeed?

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Cramdown Is Back: Banks Against Homeowners, Round 2

HuffingtonPost.com | Ryan Grim | Posted 05.25.2011

Read More: Barney Frank, Dick Durbin, Bankruptcy Reform, Banks, Harry Reid, Henry Paulson, Homeowners, Cramdown, Politics News

Cramdown is back. House Financial Services Committee Chairman Barney Frank (D-Mass.) tells the Huffington Post he plans to revive the effort to give...

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Banks Still Cheating People Out of Their Homes

Mike Elk | Posted 05.25.2011

Read More: Evan Bayh, Loan Modifications, Predatory Lending, Making Home Affordable, Wall Street, Campaign Contributions, Lobbyists, Dick Durbin, Blue Dogs, Home Affordable Modification, Max Baucus, Foreclosure, Center for American Progress, Cramdown, Business News

We can't allow Wall Street to go on cheating people out of the most important possession of their lives -- their home.

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Administration Belatedly Pushing Banks To Slow Foreclosures

HuffingtonPost.com | Jeff Muskus | Posted 05.25.2011

Read More: Bankruptcy Reform, Banks, Bankruptcy Bill, Mortgage Modification, Cramdown, Home Foreclosures, Business News

Months too late, the Obama administration is pushing the finance industry for further action to stem the vast tide of home foreclosures. The administ...

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Obama's Agenda: Hope, Change and Lobby-Centricity

Stuart Whatley | Posted 05.25.2011

Read More: Obama Cabinet, House of Representatives, Cap and Trade, Democratic Congress, Congress, Capitol Hill, Lobbying, Lobbyists, Progressives, President Obama, Obama Administration, Obama, Progressive Movement, Democrats, Banking Industry, Cramdown, Barack Obama, Lobbyist, Obama White House, Senate, Cap-and-Trade, David Brooks, Health Care Reform, Special Interests, K Street, Health Care, Obama Lobbyists, Stuart Whatley, Politics News

Obama's self-imposed rule against lobbyists in his administration, and the method whereby he is now implementing his progressive agenda, hews toward a rather perverse irony, if not hypocrisy.

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The Good, the Bad, the Ugly: Financial Sector Regulation

Robert Weissman | Posted 05.25.2011

Read More: Derivative, Executive Compensation, Mortgage, Wall Street, Predatory Lending, Financial Crisis, Leverage, Consumer Protection, Executive Pay, Cramdown, Financial Regulation, Campaign Finance, Glass-Steagall, Foreclosure News, Business News

There's no question that Wall Street is going to mobilize -- is already mobilized -- to defeat the administration's positive proposals.

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Did Barack Obama "Kill" the Progressive Movement?

Jane Hamsher | Posted 05.25.2011

Read More: Media Matters, Rahm Emanuel, Dana Milbank, Keith Ellison, Federal Reserve Transparency Act, Leo Gerard, America's Future Now, Cramdown, Barack Obama, Naomi Klein, Center for American Progress, Progressives, Obama Progressives, Progressive Movement, Politics News

I understand that nobody wants to be on the outside like they were during the Bush years, but the price of a few cocktail parties at the White House -- and the threat of lost donors -- is buying a lot more than it should.

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Congress Passes Landmark Credit Card Reform; House Passes GOP Amendment To Allow Guns In National Parks

HuffingtonPost.com | Ryan Grim | Posted 05.25.2011

Read More: Credit Card Reform, Obama Credit Card Reform, Credit Card Interest Rates, Cramdown Legislation, Obama Cramdown, Cramdown, Politics News

The House of Representatives passed sweeping credit card reform legislation Wednesday aimed at limiting abusive and deceptive credit card practices. T...

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MoveOn Targets Specter And Other Dems For Siding With Banks (VIDEO)

HuffingtonPost.com | Arthur Delaney | Posted 05.25.2011

Read More: Cramdown, Cramdown moveon.org, Democrats, MoveOn.Org, Video, Politics News

A series of new web ads by MoveOn.org targets Senate Democrats for stripping a provision from recently-passed bankruptcy reform legislation that would...

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White House Silence May Have Doomed Mortgage Cramdown Bill

Washington Independent | Posted 05.25.2011

Read More: Mortgage-Cramdowns, Senate Bankruptcy Bill Cramdown, Dick Durbin Cramdown, White House Mortgage Cramdown Bill, Cramdown, Politics News

Though mortgage bankruptcy reform has been a central component of the Obama administration's foreclosure prevention strategy, the White House all but ...

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Tax Havens and the Business Lobby

The Progress Report | Posted 05.25.2011

Read More: Taxes, Obama, Timothy Geithner, Cramdown, Economy, Business News

In a time when we're facing a banking crisis that many of the banks created, it is hard to believe that the banks are still the most powerful lobby on Capitol Hill. They frankly own the place.

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The Stress Tests Fail The Smell Test

Arianna Huffington | Posted 05.25.2011

Read More: Stress Tests, Nouriel Roubini, Obama Bank Stress Tests, Joseph Stiglitz, Economy, Bank Stress Tests, Obama Administration, Nassim Taleb, Obama Economy, Cramdown, Business News

The results of the much-anticipated bank stress tests are finally set to be released on Thursday. But we can already give the Obama economic team a grade for the way the tests have been handled: F.

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In Their Own Words: Why Dem Senators Screwed Homeowners

HuffingtonPost.com | Ryan Grim | Posted 05.25.2011

Read More: Mortgages, Dick Durbin, Bankruptcy, Mortgage Relief, Cramdown, Politics News

Only 45 Senate Democrats voted Thursday to oppose the banking industry and pass legislation aimed at stemming foreclosures. The bill would have allowe...

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Do They Frankly Own the Place? You Betcha!

Paul Blumenthal | Posted 05.25.2011

Read More: Cramdown, Banks, Lobbyists, Dick Durbin, Transparency, Politics News

The financial sector has been running wild through Washington over the past 11 years -- getting whatever it pleases and blocking whatever it doesn't.

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Cramdown Vote: Banks Bought Senators On The Cheap

HuffingtonPost.com | Ryan Grim | Posted 05.25.2011

Read More: Dick Durbin, Bankruptcy Bill Dick Durbin, Bankruptcy Bill, Durbin Bankruptcy, Dick Durbin Cramdown, Cramdown, Politics News

Sen. Dick Durbin (D-Ill.) introduced legislation in the Senate Thursday which would allow homeowners in bankruptcy to renegotiate -- or cramdown -- mo...

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Why Are Bankers Still Being Treated As Beltway Royalty?

Arianna Huffington | Posted 05.25.2011

Read More: Credit Card Bill, American Banking Association, Mortgage Bankers Association, Chrysler Bankruptcy, Chrysler Banks, Credit Cardholders Bill of Rights, Chrysler, Bankers, Credit Card Rates, Credit Cards, Financial Services Roundtable, Cramdown, Senate Cramdowns, Dick Durbin, Carolyn Maloney, Transparency, Politics News

How do the same banks that have repeatedly come to Washington over the last eight months asking for billions to rescue them from their catastrophic mistakes, somehow still "own the place"?

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