US's Pelosi wants "cramdown" bill in House Thursday

Joanne98

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Mon Feb-23-09 01:29 PM
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US's Pelosi wants "cramdown" bill in House Thursday

WASHINGTON, Feb 23 (Reuters) - U.S. House Speaker Nancy Pelosi said on Monday Democratic leaders hoped to bring mortgage bankruptcy legislation known as the "cramdown" bill to the House floor on Thursday.

"Thursday," the speaker said to a reporter who asked when the bill would come to the floor, adding that the legislation should be introduced later on Monday.

The legislation would allow bankruptcy judges to adjust the terms of mortgages on primary residences for distressed borrowers. (Reporting by Susan Cornwell; Editing by Brian Moss)

http://www.reuters.com/article/marketsNews/idUSWAT01101220090223

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DCKit

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Mon Feb-23-09 02:04 PM
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1. OK Nancy. How 'bout a "clawback" bill to reclaim some of the excessive cash....

the banks, Wall St., the oil companies and hedge funds have "removed" from the economy?

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