Even a depressed sourpus like me needs some LOL...
Check out this cool video over at Big Hollywood.
It's funny, and sad, at the same time.
Some group with a nice name, but that I never heard of, praises Congressman Kratovil for voting against the bankruptcy bill HR 1106. Is this really another example of his "independence" or was he given permission (again) to just appear independent of the Obamassiah? Does anybody know about this group, Americans for Limited Government? At least they called on him to "go a
step further and persuade his colleagues to do likewise and stop the bailouts
once and for all”.
Read more from the release below...
ALG Praises Congressman Kratovil for “Voting Against Picking the Pockets of Responsible Citizens”
March 9th, 2009, Fairfax, VA—Americans for Limited Government President Bill Wilson today praised Congressman Frank Kratovil for voting against H.R. 1106, a bill that gives bankruptcy judges the power to reduce mortgage principals and rates, "and that forces responsible U.S. taxpayers and homeowners to compensate delinquent borrowers and irresponsible lenders that took out and made the bad loans in the first place."
In a statement, Wilson said, “Congressman Kratovil deserves his constituents’ thanks for voting against forcing them—who pay their bills—to also pay for those who won’t."
The legislation passed the House of Representatives 234-191.
“The American people do not support this out-and-out robbery,” he added. “And Congressman Kratovil’s opposition to it is praiseworthy.”
Wilson, in a letter to Congress last week, warned that the legislation would further weaken and distort the housing market.
“Congressman Kratovil understands that it is his constituents who will ultimately pay for the mortgage cram-downs,” Wilson said.
“It forces banks to eat the costs when the principal owed on the mortgage is reduced, and then the banks that face insolvency then turn to the government for more bailout funds,” Wilson explained.
“The taxpayers then wind up paying twice: first to bail out the borrower who can’t afford their house, and then the bank that was forced by government to make the bad loans in the first place,” Wilson added.
Wilson also warned in detail that the bankruptcy courts would become overwhelmed, “There were about 2.3 million foreclosures in 2008, and Congressman Kratovil knows 368 bankruptcy judges nationwide cannot handle that sort of caseload.”
“This is going to be a disaster,” Wilson predicted.
Wilson believes that most Americans do not support President Obama’s plans for mortgages.
“It’s very simple: the American
people do not want to reward those who made bad decisions in the first
place. And Congressman Kratovil thankfully stood in the way of
paying off those who took out loans they could not afford and subsidizing banks
that were forced by government to make loans that could not be paid back,” said
Wilson.
“Now Congressman Kratovil must go a step further and persuade his colleagues to do likewise and stop the bailouts once and for all,” Wilson concluded.
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Americans for Limited Government is a non- partisan, nationwide network committed to advancing free market reforms,private property rights and core American liberties. For more information on ALG please call us at 703-383-0880 or visit our website at www.GetLiberty.org.
