Posts Tagged ‘foreclosure documentation’

Elizabeth Warren Stops Obama From Signing Foreclosure Friendly Bill

 

You might be wondering why would our government would try to loosen the documentation standards to make it easier for banks to foreclose on homeowners in the the midst of the worst foreclosure crisis in the history of the United States. Yeah, I am wondering about that, too.

See, both houses of congress passed a bill that would have made it easier for banks to foreclose across state lines by easing notarization standards. President Obama was going to sign the bill, too. Another win for the banks who are awash in profits while millions of homeowners flounder under the weight of the sagging economy and the bad loans that Wall Street pushed on them.

Elizabeth Warren who has been given broad authority in shaping the new watchdog agency within the Fed dedicated to making sure that all financial products are safe for the American consumer, and who reports directly to President Obama, persuaded him to veto the bill, and so he did.

Wall Street and the financial industry do not like Ms. Warren. She pulls no punches and tells it like it is. She also understands the plight of the middle class and how hard it is for American families to make it these days and she is the champion of average every day Americans long missing from Obama’s Administration.

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