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A New Set Of Catch-22s _H.R. 200
Old 02-09-2009, 04:20 PM   #1
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A New Set Of Catch-22s _H.R. 200

The Helping Families Save their Homes in Bankruptcy Act of 2009, authored by Rep. John Conyers, Dem. MI, should produce an interesting new bag of difficulties for the financial system.

Just a few days prior to this bill's passage I was saying to a friend who advocated having judges modify mortage terms in bankruptcy- "Hey, isn't that what foreclosure is supposed to do?" And also saying how could you negotiate this with counterparties. The latter problem has been solved it seems- "The holders of the mortgage must be notified at least 15 days prior to the action." Now that is a good one that apparently the good Rep Conyers didn't think through too thoroughly.

OpenCongress - U.S. Congress - H.R.200 Helping Families Save Their Homes in Bankruptcy Act of 2009


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Old 02-09-2009, 08:06 PM   #2
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More feel-good legislation that doesn't actually solve the original problems.

The government that governs least, governs best.
All of this spending will make my eventual retirement so much more...interesting.
One day your life will flash before your eyes. Make sure it's worth watching.
Gerard Arthur Way

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