While some choose to ignore and others choose to misinform, sometimes it just takes new/changed leadership:
Citigroup Reaches Deal With Lawmakers on Home Loans
By Renae Merle
Washington Post Staff Writer
Thursday, January 8, 2009; 3:39 PM
Senate leaders won the support of Citigroup, one of the nation's largest banks, for legislation allowing bankruptcy judges to modify the terms of troubled mortgages.
It was a surprising turnaround from a mortgage industry leader. The industry has protested Senate Democrats' proposal to allow judges to changes the terms of mortgages for a borrower's primary residence, saying it would make loans more expensive.
But the deal reflects the changed political and economic realities of the nation's deepening recession and puts pressure on other lenders to come aboard. President-elect Barack Obama has said he supports the provision and banks that have accepted federal aid have faced more pressure to do more to help homeowners. Also, the foreclosure crisis has worsened in the last year and industry and government efforts to keep people in their homes have had little impact.
Citigroup has received about $40 billion in government assistance last year.
The deal was announced this afternoon by Assistant Majority Leader Sen. Dick Durbin (D-Ill.), Sen. Chris Dodd (D-Conn.) , chairman of the Senate Banking Committee, and Sen. Chuck Schumer (D-N.Y.).
The legislation was initially introduced in 2007, but the provision was repeatedly defeated after industry officials protested.
The industry's turnaround started with the National Association of Home Builders. Its' president, Jerry Howard, said in a statement last week that the economic crisis is so severe that "every possible solution must be on the table."
"I think it's a major breakthrough to have a large financial institution on board," said John Rao, an attorney with the National Consumer Law Center.>
Yo dib... I sure do agree with you on all the laughs we have on this thing. Duck is hilarious all the time, but also very serious and effective. I've gotten more than a few chuckles out of your posts, and sometimes I am laughing at what I write before I even hit the send button. I laugh very easy though and love to watch decent stand up comedy, without the F this and F that stuff that's now standard with 99% of the copycat losers that are trying to satisy young idiototic audiences that think there's no limit to anything that's full of filth and raunchy trash. Why do the young people think they're so smart and sophisticated when it comes to politics? They're soaking wet behind their ears. That goes along perfectly with the short circuited electrons in those groggy drug laden brains that are programmed to respond to noise not content. They're going to grow Obama clown ears. From behind he looks like a car with the back doors open. (that's an old one). Which brings me right back to the majority of non-thinking 'bots that spew faulty opinions derived from those twisted far right wacko lib bloggers that have no shame and don't even bother to hide their distaste for common sense and good manners. Do you know how many of them reside here? They are the majority! You can tell when one of them pops out of the damp rotted and decayed woodwork where they reside with the roaches? I'll bet you didn't laugh this time! Do you think I'll get a couple of stink bombs tossed at me? I hope so... it's fun and gives me more chances to smoke 'em out. My new years challenge is to double my ignore list. There's a lot more jackass's out there, but none as deserving of the name as the original number one in my toilet resident as my famous creation who I dubbed 'THE JACKASS'. That calibur of a dirtbag just can't be duplicated. When are you going to give him/her/it another blast so I can enjoy another laugh at his/her/it's expense? Do it ASAP! I'm a laugh-a-holic and could use another fix! :)
J4d, you are funny today.
Sometimes, this message board tickles more than the bare soles of a thousand feet.
And I have apparently instilled a smidgeon of religious faith into alf.
Quite a day....
Yo dib... I guess the ATTABOY was supposed to be yours. But you knew that. I'm the only one that didn't. So happy belated ATTABOY anyway. As I mentioned to canucanoe, you sure did give the 'JACKASS' an azz whoopin. It was wonderful. Do it again! I loved it! Okay canu... it's your turn now... sic 'em! But you get to keep that errant 'ATTABOY' anyway, just for letting me know I had another senior moment where one of those worn out parts gets loose.
Yo canu... Oops... you saw that and I never would have noticed if you hadn't picked up on it. I must be getting punchy. I'm actually glad you mentioned it, because it brings me back to earth so to speak and reminds me of how easy it is to get mixed up. The other thing is that I couldn't tell the difference between your writing and dib's. You both express yourselves very well and have a lot to say. I just wish we could be a little closer when it comes to financials. So I find your mis-q's and you find mine. Touche. I really do appreciate it. Tks.
Re: 'When alf persistently shows his few working brain cells fire like a Briggs & Stratton spark plug after 16,326 lawn mowings, one can sadly comprehend his rambling deviations from cogent thought.'
Yo cantu... well you finally did that time! I'm giving you an 'ATTABOY'!!! You gave the 'JACKASS' a real azz whoopin that time!!! And you didn't spoil it for a change. Nice going!!! Do it again!!! I love it!!!
When alf regularly tells us how terrible it is the U.S. would spend two-thirds of a billion over several years to bring a more stable middle east, because he simply cannot understand why that would be done, then watches his idol embrace what alf had steadfastly, obnoxiously, and foolishly denigrated, one can sympathize with his confusion.
When alf tells us how fiscally irresponsible a president has been, then sees the replacement he so assiduously supported propose spending $1,300,000,000,000 (and counting) his first week in office, one can empathize with his disoriention.
When alf persistently shows his few working brain cells fire like a Briggs & Stratton spark plug after 16,326 lawn mowings, one can sadly comprehend his rambling deviations from cogent thought.
When alf's heroes conspire to give $1.3 trillion (and counting) to his idol, while discussing in embarrassingly unenlightened terms how it is to be spent (Shall we fix highways or spend 40% on mass transit? Shall we create jobs or "give it back" by reducing social security payroll taxes? Shall we give a rebate to taxpayers or buy another election? Shall we increase subsidies to the UAW or expand funding for ACORN?), it can be hard on alf's already overwhelmed three brain cells (coincidently the same as in one seal nose hair).
As a humanitarian gesture, we can be kind.
But we should not take alf too seriously.