CT Blue

Things are getting a bit fevered out there:

You know, it strikes me that the best way to really restore sanity and a measure of stability to the mortgage industry is to ensure that the people most harmed by predatory lending practices, who were on the receiving end of extraordinary dubious financial advice which has, in many cases, cost them not only their home, but also their credit rating and future viability in the job market, is to bar them from seeking remedy in the the courts.

Oh, shit. What am I saying? That’s not what I think at all. Must be the after effects of those weird Republican drugs I was taking over the weekend that always make me think the stupidest, cruelest shit imaginable is really, fundamentally awesome. Well, at least we don’t have to worry about Democrats proposing that sort of nonsense.

What’s that you say? Oh, shit.

The “oh, shit” link (the post is from Suburban Guerilla) is to an article about Hillary Clinton, and the clear implication is that Hillary has proposed barring homeowners from suing predatory lenders. If that’s true it is not borne out by the linked article:

The New York senator proposed greater protections for lenders from possible lawsuits by investors, a variation of so-called tort reform. For years, GOP leaders have called for restrictions on what they consider unwarranted lawsuits against businesses. Democrats have often resisted them on grounds they limit injured parties’ legitimate rights to redress.

“Many mortgage companies are reluctant to help families restructure their mortgages because they’re afraid of being sued by the investment banks, the private equity firms and others who actually own the mortgage papers,” Clinton said in what she billed as a major address on the economy at the University of Pennsylvania.

There is nothing in the article to support the contention that Clinton is trying to bar the homeowners from suing. Clinton is talking about people who invested in the sliced and diced mortgage backed securities. I.e., she is turning the Republican guns back at them, since it is the fat-cats (well, slightly less fat now) who would be thrown out of court.

We Democrats have to stop beating up on our own.