Certain words involving Barney Fag shouldn’t be used in the same sentence, especially headlines- cramdown, stuff, swallow, pack, etc.....
Do they really want to post Barney Frank and Cram Down in the very same headline?
If you need anything crammed down or jammed/shoved up, Barney’s your man!
When Barney starts talking about cramming anything I start to worry. Yes, that’s a gay reference.
Doesn’t Barney have someone else he could be doing? He needs to go away. It’s going to take decades for us to clean up the mess he has already made.
Oh no she didn’t!
And if anyone know about cramming things down the throat, it would be Barney Frank.
Cant believe it took so long.
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), was one of the worst, most destructive, and downright evil pieces of legislation ever visited on our nation.
It’s primary function was to protect credit card companies, based in very heavy lobbying by those companies, against people deeply in debt, to avoid their having the ability to get structured relief from that debt in bankruptcy court. Whereas before, if a judge ruled that a family was impoverished, often by catastrophic medical bills, the judge might direct relief from a portion of those debts, and an orderly reimbursement of the rest.
What the credit card companies wanted was perpetual and growing indebtedness, so that people could never escape the ever growing debt, and its interest, until they died.
But the even more insidious part of BAPCPA, was how it affected corporate bankruptcy. Before, when a corporation went into Chapter 7 bankruptcy, its assets would be divided among its creditors for goods and services.
With BAPCPA, now leverage derivatives corporations, who are responsible for much of our current economic catastrophe, get first call for all corporate assets, even *before* a judge can place controls on those assets. Thus, any company that goes bankrupt gets utterly looted, and sticks its creditors with great losses.
Doing so can cause a domino effect among businesses. One goes bankrupt, and the others cannot recover their credit, which drives them into bankruptcy as well.
This is why nobody will loan anybody money right now. Nobody will extend credit, because they could lose 100% of that loan, if whoever they give it to goes bankrupt. This also means that corporations have to hoard their money, and build up liquidity, just to keep operating, because nobody will loan them money to operate.
And don’t blame the Democrats for this monstrosity. The Republican leadership, especially Tom DeLay and Chuck Grassley, tried to push this through for five years before they finally won in 2005.
Barney Frank is another reason masses of people are marching on Washington today. He is a filthy, corrupt congressman who is responsible for part of the Fanny Mae & Freddie Mac meltdown...a private sand box for ‘ol Barney and pals. He also pitches a fit anytime a conservative tries correct wrongs made by this man. Barny Frank is one of the most problematic people in congress, a pimp for the Progressives.
Somebody needs to ask Bawney Fwank if gential warts of the anus and throat are covered by Obomma Care!
Must...not...make...obvious...joke...
We're only supposed to examine the intentions, never the success.
No. Barney would do well in prison.
Why leave it up to a judge? Why let the bench legislate?
Congress, why not just legislate the maximize allow mortgage interest rate at Prime or below. How about credit cards next?
No more 18-21% or higher for anyone, legislate it to say 8%.
Oh, that’s right ... you can’t. Without p*ssing off your money backers and lobbyists. Ya, it’s okay.
We, the lowly citizen and money borrower, know who’s pockets your in and where you bread is buttered.
And it’s not the voters.
No. 1, BEST way to boost the ecconomy? 0’b resigns for personal reasons!! It would do WONDERS at this time.