The entire purpose of this bill is two-fold:
1. To get the load of these mortgages off the backs of the banks and on to the Federal Govt. at a much lower loss to the banks than they are going to otherwise sustain. This action will pay back the money that the banks have been investing in lobbyists who have been greasing the skids for the politicians (like Dodd)
2. Make all the self-serving politicians who are pushing it to look like hero’s to enough voter’s that will keep them or their party in office and in control of your $$$$$$$$$$$$$$$$$$$$.
Our Congress has become so corrupt and it seems that nobody on the hill wants to do anything about it because the majority of them are receiving their juicy slice of the pie.
Bush says he will veto but from what I’m seeing, they may have enough votes to over-ride his veto. If this was coming up for a vote after January of next year, we wouldn’t be seeing all this good-spirited cooperation from both sides of the aisle because the elections would be a thing of the past.
