If there was ever a doubt about the influence of big banks over congress and whose side our elected "representatives" are actually on this story today from yahoo news clears everything up. Congress actually tried to sneak a law to the President's desk that would let the servicers off the hook for their faulty documentation and make it easier to steal your home. Read for yourself
Obama will not sign foreclosure bill: White House - Yahoo! News
FROM WHITEHOUSE.GOV ....
Why President Obama is Not Signing H.R. 3808
Posted by Dan Pfeiffer on October 7, 2010 at 1:15 PM EDT
Today, the White House announced that President Obama will not sign H.R. 3808, the Interstate Recognition of Notarizations Act of 2010, and will return the bill to the House of Representatives. The Interstate Recognition of Notarizations Act of 2010 was designed to remove impediments to interstate commerce. While we share this goal, we believe it is necessary to have further deliberations about the intended and unintended impact of this bill on consumer protections, including those for mortgages, before this bill can be finalized.
Notarizations are important for a large range of documents, including financial documents. As the President has made clear, consumer financial protections are incredibly important, and he has made this one of his top priorities, including signing into law the strongest consumer protections in history in the Wall Street Reform and Consumer Protection Act. That is why we need to think through the intended and unintended consequences of this bill on consumer protections, especially in light of the recent developments with mortgage processors.
The authors of this bill no doubt had the best intentions in mind when trying to remove impediments to interstate commerce. We will work with them and other leaders in Congress to explore the best ways to achieve this goal going forward.
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