Among the many golden nuggets he gave reporters this morning: Frank said he expects the Bush administration to threaten to veto two foreclosure assistance bills the House Financial Services Committee, which Frank chairs, is expected to send to the floor.
Frank said they’ve known for some time that the Bush administration would issue a veto threat on the $15 billion loan-and-grant package for local governments to buy foreclosed properties. The committee approved that bill yesterday.
But Frank indicated he was a bit surprised to hear yesterday that the White House plans to issue the same threat for his plan to spur the refinancing of distressed mortgages.
“The administration, we thought, was moving towards it. … But I was told yesterday now they’re strongly against it,” Frank said, speaking to reporters at a breakfast hosted by the Christian Science Monitor.
{ 1 comment… read it below or add one }
The blinders you refer to belong to Ms. Sweet, who obviously had them on when she walked into the bank and didn’t see any of the signs (that are posted everywhere) saying only $100,000 is FDIC insured. This FDIC guarantee is universal all over the country and was no different at Superior Bank. When one dollar over the $100,000 went into the bank, that dollar was at risk. Nobody stole Ms. Sweet\’e2\’80\’99s money. She risked it for a higher return. She could have easily spread it around to five banks and would have been at no risk. I think we should really take a look at who\’e2\’80\’99s being greedy here.
I love how Ms. Sweet is ignoring the fact that she has received $367,000 out of her original $480,000 deposit. If my math is correct, that is a sight more than the $100,000 that she was legally entitled to. I wonder where the other $267,000 came from\’e2\’80\’a6 Hmmm, could it be from the Pritzker family?
Also, I am entirely amused when Ms. Sweet is constantly crying poor mouth. I don\’e2\’80\’99t know about anyone here, but I don\’e2\’80\’99t have $367,000 sitting around in my bank account. Not to mention the million dollar publicity campaign she\’e2\’80\’99s running.
Regardless, the amount of money Ms. Pritzker has raised for the Obama campaign and her cutting edge ideas on fundraising are impressive and there is no getting around that.