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May 13, 2010

Mortgage Reform – Another Good Reason Why We're Better Off With Jeff Merkley

Can you imagine this sort of thing even being endorsed by Gordon Smith – never mind ever being introduced by him:

Senators voted 63-36 to amend an underlying financial regulation bill to place restrictions on how mortgage brokers and bank loan officers get compensated. The measure's lead sponsor, Sen. Jeff Merkley, D-Ore., argued that consumers were steered into higher rate mortgages that they were unable to pay, resulting in foreclosures and toxic mortgage-backed securities that poisoned the markets.

For you Tea Partiers and people who are sure that this is Socialism™, cue the 150-300 person over-reported mass rally on the Capitol Mall. For the rest of you who are sane and/or smart, aren't you glad you voted for Jeff?

Posted by The Chinuk at May 13, 2010 08:49 AM