Friday, October 8, 2010
Is that a 'pocket veto' or are you happy to see me
Obama to Veto Bill on Foreclosures - WSJ.com: "President Barack Obama plans to veto a bill whose opponents say would make it harder for homeowners to stop foreclosures. The move marks the Obama administration's most direct intervention so far into a growing debacle tied to how banks foreclose on homes, and the first effective veto of Mr. Obama's presidency. The veto could make it more difficult for banks to complete paperwork and speed the foreclosure process, and could give homeowners more time to rework loans. Several of the country's largest banks, including Bank of America Corp., J.P. Morgan Chase & Co. and Ally Bank, have moved in recent weeks to halt thousands of foreclosures in 23 states amid revelations that the banking industry had used 'robo-signers,' people who sign hundreds of documents a day without reviewing their contents."