ST Alpha - "someone needs to help me parse this obama admin statement on the foreclosure thing for me...." (Reading a Post)

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someone needs to help me parse this obama admin statement on the foreclosure thing for me....

Posted by tremendous machine (aka dmuck) Oct 11 '10, 05:53

"We believe freezing foreclosures for all banks in all states, whether we have reason to believe them to be in error or not, is simply not the prudent step to take in this fragile housing market," {FHA Commissioner David Stevens} said. "

"whether we have reason to believe them to be in error or not?" so even if the banks were in the wrong, a freeze wouldn't be prudent, i guess. and so once again the great populist tosses his admin onto the side of corporate interests, even if it was shown to be the case that the banks are "in error".

i've got plenty of misgivings about any national freeze myself, but what's clear is this current admin is as beholden to the overlords of corporate power as any other.

obama administration does not support national freeze on foreclosures (www.washingtonpost.com)

Responses:

essentially... - znufrii Oct 11, 06:02 2
- heh. coming from an admin that's done little but help banks who screwed up at some cost to those who didn't, that's right amusing..... - x Oct 11, 06:08 1
  - though of course on that the prior admin gets its share of blame as well....nm - x Oct 11, 06:09

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someone needs to help me parse this obama admin statement on the foreclosure thing for me....

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