An Ol' Broad's Ramblings
U.S. Senator Bob Corker criticized Democratic leaders in a speech this morning for holding up the Federal Housing Administration Modernization Act, a bill that has passed the Senate and House and would increase the dollar cap for mortgages insured by the federal agency.
The bill is in conference committee, where differences are being worked out between the Senate and House versions of the bill.
“It’s being held hostage right now,’’ Corker said at the Tennessee Mortgage Bankers Association convention at Gaylord Opryland Resort and Convention Center.
He said Democrats are holding up passage of the bill to push more aggressive legislation where the government would help finance the bad debt of homeowners in trouble on their mortgages.
Y’know, there is a lot of crap that comes out of D.C. on a regular basis. This nonsense takes the cake.
“I think there’s a more elegant way of dealing with that,’’ Corker said. He also said he opposed the $168 billion economic stimulus plan that is now sending checks of a minimum of $300 to Americans throughout the country.
Well, so am I! And I’m really glad he did oppose such a ridiculous waste of taxpayer money! My first though….IF (and that’s a huge if) we get a check, we should send it right back. Second thought, within seconds mind you, was “Why the hell should we send it back? It’s OUR freakin’ money!” Occasionally, I’m a little slow on the upswing.
He said Americans save less of their paychecks than any other time in U.S. history and it was “ludicrous” for the government to go into debt sending checks to Americans and asking them to spend it.
How many Americans save for the proverbial “rainy day”? I’d venture a guess that it was an extremely small percentage. Why? Well, since each generation, from WWII on, has gotten this absurdity into their heads that no matter what happens, the gubmint is going to take care of them, why should they save. Looking at the so called leadership in this country as an example, those same “leaders” who spend and spend and spend, on endless useless projects and programs, it’s not really all that surprising, now, is it?
Corker also cautioned against more regulation of the mortgage industry as a way to react to the housing crisis.
“There’s no doubt some people were bad actors,’’ he said. “That’s life.” Corker said he would “do everything to keep the pendulum from swinging to the other side,” in favor of too much regulation.
I’m starting to like this guy more and more. Such a VAST improvement over Kohl – The Potted Plant, and Feckless Feingold.