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Originally Posted by willravel
So far Kucinich is my favorite Dem, but Dodd isn't bad especially considering this move. This does improve my impression of one Dem.
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will....if Dodd only served on the banking committee...I'd be inclined to agree with you....but he's the chairman....and he is on record....saying since march...that he supports keeping the weakest (financially) bagholders in these mortgages, when they had no equity at the closing, and negative equity now.
He acts as if he is a populist....supporting these underdogs....victims of predatory lenders....as he actually uses them in an attempt to delay inevitable foreclosure waves.....valuation killing, but necessary for eventual housing industry recovery.
He should know that the best thing for these poor credit risk, upside down "homeowners"....is for them to leave these mortgages and residences.....now, as their loans will never be viable.....they'll sacrifice....struggling to pay on mortgages tweaked to prop up valuations......not to help these household's financial positions.....it's a crime that Dodd is pushing on these folks....or he is clueless.....neither is a good quality for a president who will face the coming US challenges.....