Government
May 2, 2009
Senate Rejects Mortgage "Cram-Down"
A Democratic plan to empower bankruptcy judges to modify troubled home mortgages died on the Senate floor Thursday, apparently felled by heavy pressure from the banking industry.
Daily Journal Staff Writer WASHINGTON - A Democratic plan to empower bankruptcy judges to modify troubled home mortgages died on the Senate floor Thursday, apparently felled by heavy pressure from the banking industry. The plan, which was offered as an amendment to a larger housing bill, lost on a 45-51 vote. While the amendment received votes from California's two senators, no Republicans supported it, and 12 Democrats opposed i...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In