Email from senator re petition - he didn't get it [Letters] - MarketTicker Forums


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User Info	Email from senator re petition - he didn't get it in forum [Letters]
Kurtosis Posts: 1150 Incept: 2007-10-30 Palo Alto, CA	Update from HI Senator Akaka in response to Gen's petition on the housing bailout. Gotta love our autopilot government, he obviously didn't even read the petition. I can't even think how to respond, any suggestions? Quote: August 28, 2008 Dear Mr. Gibson: Knowing of your interest in housing legislation, I am writing to provide you with an update. The Housing and Economic Recovery Act of 2008 (P.L. 110-289) became law on July 30, 2008. P.L. 110-289 creates the Federal Housing Finance Agency, a new regulator for the government-sponsored enterprises (GSEs), so that these vital institutions can safely and soundly carry out their mission of providing our nation’s families with affordable housing. It raises loan limits to expand affordable housing in high cost areas. The Act creates the Housing Trust Fund and Capital Magnet Fund to increase access to affordable housing. P.L. 110-289 provides temporary authority for the Treasury to purchase debt securities issued by the GSEs and to purchase common stock of the enterprises with the agreement of the companies in order to protect the taxpayer , provides stability to the financial markets, and prevents disruptions in the availability of mortgages. This law establishes a voluntary, new initiative at the Federal Housing Administration (FHA) to help 400,000 American homeowners refinance their loan at an affordable rate in an effort to avoid foreclosure and stay in their homes. It creates a federal registry and establishes minimum national standards for all residential mortgage brokers and lenders. This legislation provides assistance for communities devastated by foreclosures, foreclosure counseling for families in need, programs to help returning soldiers avoid foreclosure, and mortgage disclosure enhancements. It modernizes the FHA and provides tax benefits for homeowners, homebuyers, and homebuilders aimed at helping the housing market recover. P.L. 110-289 also includes revenue provisions to pay for the legislation, consistent with responsible fiscal policy. Mahalo again for contacting me. Aloha pumehana, DANIEL K. AKAKA U.S. Senator ---------- If somebody weighs 300lbs, the right solution is to lose weight and eat your vegetables, not to "devalue" the pound. Last modified: 2008-08-28 18:26:59 by kurtosis 2008-08-28 18:19:49 Permalink
Pika-steph Posts: 54705 Incept: 2007-09-11 Live Free Or Die; US Army Est. 1775	I feel your pain. You should post this in the FedUpUSA Forum or maybe the Letters to Lawmakers Forum. ---------- Stop the Looting; Start Prosecuting - http://www.FedUpUSA.org/ "The only regulation that really works is failure."--Rick Santelli 2008-08-28 20:09:12 Permalink
Kurtosis Posts: 1150 Incept: 2007-10-30 Palo Alto, CA	Good idea. Gen, sorry, when you get a chance can you move this? ---------- If somebody weighs 300lbs, the right solution is to lose weight and eat your vegetables, not to "devalue" the pound. 2008-08-28 20:43:47 Permalink
Kurtosis Posts: 1150 Incept: 2007-10-30 Palo Alto, CA	Thanks! ---------- If somebody weighs 300lbs, the right solution is to lose weight and eat your vegetables, not to "devalue" the pound. 2008-08-28 21:10:34 Permalink
Jinxx0r Posts: 4230 Incept: 2007-08-10	the obamasiah didn't even send me a form letter... neither did dickhead durbin. 2008-09-05 01:25:28 Permalink