Here is the paragraph in question:
I will consider legislation that enables lenders to convert unworkable mortgages into stable, affordable loans without the permission of investors. Protection from lawsuits will remove the obstacle that keeps lenders, servicers and others from turning mortgages that were designed to fail into mortgages families can afford. Right now, servicers who process monthly loan payments and interface with homeowners have flexibility to modify loans. However, they are reluctant to fully exercise this discretion in part because they fear investor lawsuits. Investors who own the securities into which the mortgages have been packaged may assert that they are harmed when servicers help at-risk borrowers. Protection from lawsuits could enable the servicers to help homeowners avoid foreclosures, help investors avoid the losses they would otherwise suffer, and help the economy.Her entire proposal is complete nonsense but the above is downright scary. Bush ignores the constitution from the oval office and Hillary obviously has no regard for constitutional issues either. Hillary Clinton has just proven she would be no better than President Bush.
This should be a wakeup call for America and I hope it is. The country cannot stand four more years of Bush in the White House and that is exactly what we will have if she is elected.
It's time to get behind the one and only candidate who stands behind the constitution. That person is Ron Paul. To find out more about Ron Paul please visit his official site Ron Paul 2008 Hope For America or the Ron Paul Revolution at Daily Paul.
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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