Banksters: "Oh No! A De Facto Moratorium on Foreclosures." Kamala Harris: "Damned Straight!"
by jpmassar
Last week banksters from across the state coverged on Sacramento, California fulling intending to completely derail bills which would implementCalifornia Attorney General Kamala Harris' proposedHomeowner Bill or Rights.
Much like their compatriots in theft in the health insurance industry who stopped AB 52 (rate regulation) and SB 810 (single payer), bank lobbyists aim was squarely focused on California's DINO legislators who take much of their campaign money from financial institutions. The insurance lobby, with their DINO allies (and uniform Republican support, naturally) defeated AB 52 and SB 810, and a very similar thing looked like it was going to happen again last week as the Senate and Assembly banking committees considered the homeowner legislation.
<...>
Indeed, as the video states, the votes were not there to pass Harris' bills out of committee. Realizing this, committee chairs tabled voting on the bills. But then a strange thing happened.
In other words, somehow (I'm not clear on the details) the Assembly quickly passed a motion which would bypass its own (and the Senate's) banking committees, creating a joint committee to work on the bills and bring them to the floors of the Assembly and the Senate. And then the Senate passed the same motion!
Score one for whomever came up with this manuever and for the Democratic leadership of the State Legislature to go along with it. Score another for Harris who probably had some hand in negotiating this workaround.
Banksters, as you might expect, were livid.
(Okay, Kamala Harris did not really say "Damned Straight!" in response to the banksters protestations, but she was probably thinking it.)
To the banksters I say "Cry me a river." A large one, the Mississippi, say. Scratch that, cry me the entire fucking Pacific Ocean.
- more -
http://www.dailykos.com/story/2012/04/22/1085396/-Banksters-Oh-No-A-De-Facto-Moratorium-on-Foreclosures-Kamala-Harris-Damned-Straight-
by jpmassar
Last week banksters from across the state coverged on Sacramento, California fulling intending to completely derail bills which would implementCalifornia Attorney General Kamala Harris' proposedHomeowner Bill or Rights.
California's attorney general is seeking to build on a recent nationwide bank settlement over home foreclosures by lobbying state lawmakers to advance a package of mortgage-protection bills.
The proposals by Attorney General Kamala Harris would provide safeguards for homeowners while giving her office more leeway to investigate financial crimes.
Her 11-bill package would ban some of the worst practices that contributed to the housing crisis. It would write the terms of the national agreement into state law and apply them to every lender
The proposals by Attorney General Kamala Harris would provide safeguards for homeowners while giving her office more leeway to investigate financial crimes.
Her 11-bill package would ban some of the worst practices that contributed to the housing crisis. It would write the terms of the national agreement into state law and apply them to every lender
Much like their compatriots in theft in the health insurance industry who stopped AB 52 (rate regulation) and SB 810 (single payer), bank lobbyists aim was squarely focused on California's DINO legislators who take much of their campaign money from financial institutions. The insurance lobby, with their DINO allies (and uniform Republican support, naturally) defeated AB 52 and SB 810, and a very similar thing looked like it was going to happen again last week as the Senate and Assembly banking committees considered the homeowner legislation.
<...>
Indeed, as the video states, the votes were not there to pass Harris' bills out of committee. Realizing this, committee chairs tabled voting on the bills. But then a strange thing happened.
Over Republicans' objections, the Senate approved an Assembly bill that will be used to create a conference committee to advance the major bills sought by Harris.
In other words, somehow (I'm not clear on the details) the Assembly quickly passed a motion which would bypass its own (and the Senate's) banking committees, creating a joint committee to work on the bills and bring them to the floors of the Assembly and the Senate. And then the Senate passed the same motion!
Score one for whomever came up with this manuever and for the Democratic leadership of the State Legislature to go along with it. Score another for Harris who probably had some hand in negotiating this workaround.
Banksters, as you might expect, were livid.
Banking and business groups said in a letter to lawmakers... that the measures, particularly the provision letting individual borrowers go to court, would slow the state's economic and housing market recovery. What are intended by Harris as homeowner protections would "result in a de facto moratorium on foreclosures" the California Bankers Association said.
(Okay, Kamala Harris did not really say "Damned Straight!" in response to the banksters protestations, but she was probably thinking it.)
To the banksters I say "Cry me a river." A large one, the Mississippi, say. Scratch that, cry me the entire fucking Pacific Ocean.
- more -
http://www.dailykos.com/story/2012/04/22/1085396/-Banksters-Oh-No-A-De-Facto-Moratorium-on-Foreclosures-Kamala-Harris-Damned-Straight-
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