[Make sure you catch the audio below]

WASHINGTON — A Wall Street Journal editorial writer who has been closely involved with the paper’s recent attacks on Elizabeth Warren is a former Goldman Sachs banker. The same editorial writer, Mary Kissel, is readying another piece critical of Warren and the new consumer agency, according to a source familiar with the coming article.

Like most major newspapers, the Journal does not disclose the authors of its editorials. Kissel recently appeared on the John Batchelor radio show as a representative of the Journal‘s editorial board do discuss Warren, and repeated the main arguments used in the editorials.

Listen to the Audio:

© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.

WAKE UP PEOPLE!

So now it appears that the this ARTICLE written a few weeks back has struck a nerve with the GOP. You know something does not fit well here. I mean why are they looking to punish anyone when the ones they should be punishing is the Banks for lying, corruption, stealing and fraud. Perhaps this all was instigated by these crooks to start a war game?

First you take our money to bail out these imbeciles then we find out it’s all a scam and NOW you want to penalize people because they have nothing invested?? I mean REALLY?? If I know this is coming better pack up now than later!

So my friends it is clear here that they are obviously being trained to act by the banks themselves.

House Republicans Want Penalties for Strategic Defaulters

By. Carrie Bay 06/17/2010 DSNEWS

Tumbling property values have left nearly a quarter of borrowers owing more on their mortgage than the home is worth, and recent studies have shown that when underwater, more and more of these homeowners are opting to walk away from their loan obligation even if they can afford to make the payments.

This idea of “strategic default” has become a universal concern within the industry, particularly since the social stigma attached to foreclosure has changed so dramatically in the aftermath of the housing crisis.

While defaulting strategically is not as frowned upon by the general public as it used to be, there are some lawmakers whose disdain for the practice has sparked a push to institute stronger deterrents for walking away and penalize those that do.

Last week, the U.S. House of Representatives passed the FHA Reform Act, with measures designed to replenish the Federal Housing Administration’s (FHA) depleted reserves.

A lesser publicized provision that was tacked onto the bill at the last minute would make homeowners who strategically default ineligible for an FHA-insured loan in the future.

The rider was introduced by Rep. Chris Lee (R-New York). Speaking on the House floor, Lee, who already had the backing of those in his party, tried to drum up Democratic support for the add-on stipulation.

“If a borrower makes the decision to strategically default on a loan, they certainly should not be allowed to benefit from a government-subsidized program,” he said.

The provision passed in a voice vote, without opposition.

“We are not talking about those families who have no choice or who simply can no longer afford their payments,” Lee said. “We are talking about the new phenomenon of a person who voluntarily chooses to stop paying their mortgage even though they still have the ability to pay.”

The FHA reform bill, including the agency ban on strategic defaulters, has not yet been approved by the Senate. And some onlookers say the part targeting borrowers who up and walk away will be particularly tricky.

It would require the HUD secretary to devise a strategy for defining and pinpointing strategic defaulters, implement screening procedures to ensure these homeowners are not granted an FHA-backed mortgage, and then enforce the new policy.

© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.

DO NOT wait for the Government for as you can see you are the least of their concerns…Fight this, if you don’t know how? Get educated, hire an attorney, hire a forensic company, FIND HELP!

Don’t procrastinate or you will be homeless.

By Aaron Marshall, The Plain Dealer June 01, 2010, 5:35AM Cleveland.com

COLUMBUS, Ohio — Foreclosure legislation is headed back into the freezer until fall.

Senate Republicans had considered moving legislation designed to increase protections for renters and require registration for loan servicers as a watered-down substitute for a stronger foreclosure moratorium bill passed more than a year ago by House Democrats.

But Senate Finance Chairman John Carey, a southern Ohio Republican, said this week that the plug has been pulled on any foreclosure legislation because he didn’t get much support for his Plan B.

The GOP inaction on the issue has angered housing advocates and the House bill’s sponsor.

“I’m entirely frustrated. This has been a year these bills have been sitting over there, and now we are going to have to wait six more months,” said Bill Faith, executive director of the Coalition on Homelessness and Housing in Ohio. “I don’t understand how you can see record levels of foreclosures month after month after month, year after year after year, and do nothing.”

The most recent statistics from the Ohio Supreme Court show that the first quarter of 2010 had 24,711 foreclosure filings, 9 percent above last year’s record-setting first-quarter figure. In Cuyahoga County, 3,722 foreclosures were filed, far above the 2,974 foreclosure actions filed in the first quarter of 2009.

Rep. Mike Foley, a Cleveland Democrat who sponsored the House bill, which included a six-month moratorium on home foreclosures, said he was “disgusted” by the plan to break for summer with no action by Republicans.

“They are ideologically in line with the big banks. They have a bunch of people who couldn’t care less. They are impractical. Take your pick,” said Foley. “I’m really angry. We had been sending messages that we wanted to sit down and talk, and they never even bothered to call.”

Maggie Ostrowski, spokeswoman for the Senate Republican caucus, led by Senate President Bill Harris, said that many in the GOP just don’t believe in government fixes to the problem.

“Fundamentally, Senate President Harris and other members of the caucus don’t believe that the government is going to solve the foreclosure crisis,” she said. “They believe a good economy and good-paying jobs is where we need to put our focus.” DinSFLA: YOU CAN’T EVEN SOLVE THE JOBLESS CRISIS…THERE GOES OUR ECONOMY! If you can’t do the job find a replacement! WE NEED COMPETENT LEADERS…NOT AMATEURS!

While the moratorium idea never had any legs among Senate Republicans, Carey said a House provision that would give notification to renters that an owner has filed for foreclosure has support among his caucus.

“They have not exactly bought into that language, but they have bought into the concept of notification of renters,” Carey said.

The substitute bill that Senate Republicans had considered gave renters the right to be notified only if landlords provided a list to the court of their tenants.

“It seemed unworkable — why would a landlord provide a list?” said Faith.

Carey said his caucus is also interested in some sort of registry for loan servicers, although probably not close to what House Democrats wanted, which raised fees on servicers to pay for increased regulation. He also said a Senate Republican bill that would steer foreclosure actions into court-ordered mediation is still a possibility for this fall.

“We haven’t closed the door on that,” he said.

Meanwhile, Ohio Supreme Court Justice Maureen O’Connor urged state lawmakers to study the foreclosure problem in urban neighborhoods with high rates of absentee landlords in an opinion released this week in a Cleveland court case.