Congress Takes $350-Million Plus from Bankers
Mike Colpitts
July 06, 2009
Lobbyists contributed more than $350-million to Congressional campaigns during the height of the real estate boom, triggering the worst economic crisis since at least the Great Depression -- no wonder why the real estate crisis hit America with vengeance.
As Congress and the White House work to come up with a plan with new reforms for financial markets to protect consumers few associated with interests to protect consumers are optimistic.
Banking lobbyists spend more to influence Congress than any other in the nation's capitol, and they are taking the blame for the worst economy in decades. But nothing is being done to stop them in Congress. Housing Predictor delves into the fall out from the lobbying interests in efforts to determine just how long it will take to correct the damaged economy, which could turn the economy into the worst economic depression in history.
The fall-out from the financial crisis has resulted in 4.2-million foreclosures and millions of more homeowners in jeopardy of losing their homes. Chief among the efforts are clearly becoming the new reforms that policy makers are hopeful will rein-still confidence in banking and the mortgage lending system to strengthen the economy.
The repeal of the law enacted during the Great Depression took lobbyists nearly 25 years to have abolished, and itīs final expulsion resulted in the worst real estate crisis the country has ever experienced. Housing values are falling at all-time record rates in dozens of states with especially hard hit markets suffering deflation as high as 70%.
Read the full report on just what Congress gained, search real estate listings and foreclosures and check your market forecast at http://www.housingpredictor.com
As Congress and the White House work to come up with a plan with new reforms for financial markets to protect consumers few associated with interests to protect consumers are optimistic.
Banking lobbyists spend more to influence Congress than any other in the nation's capitol, and they are taking the blame for the worst economy in decades. But nothing is being done to stop them in Congress. Housing Predictor delves into the fall out from the lobbying interests in efforts to determine just how long it will take to correct the damaged economy, which could turn the economy into the worst economic depression in history.
The fall-out from the financial crisis has resulted in 4.2-million foreclosures and millions of more homeowners in jeopardy of losing their homes. Chief among the efforts are clearly becoming the new reforms that policy makers are hopeful will rein-still confidence in banking and the mortgage lending system to strengthen the economy.
The repeal of the law enacted during the Great Depression took lobbyists nearly 25 years to have abolished, and itīs final expulsion resulted in the worst real estate crisis the country has ever experienced. Housing values are falling at all-time record rates in dozens of states with especially hard hit markets suffering deflation as high as 70%.
Read the full report on just what Congress gained, search real estate listings and foreclosures and check your market forecast at http://www.housingpredictor.com