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Wednesday, June 24, 2009

Huffington Post: Grassley hosting fundraiser with mortgage industry lobbyist, months after opposing cramdow

Excerpted from this post at Huffington Post

In late April, the U.S. Senate rejected an amendment to the housing
bill that would have allowed bankruptcy judges to provide relief for
troubled homeowners by modifying mortgage payments. Among those who
opposed the measure, which was known as "cramdown," was Sen. Chuck
Grassley, the ranking member of the Senate Finance Committee. "It will
cause interest rates to go up and will make it more difficult for
people to get a mortgage," the Iowa Republican said at the time. Two
months later, the people who benefited from Grassley's vote are poised
to shower him with campaign donations.


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