Need more proof that the GOP is completely own by Wall Street bankers? Why is it so hard to wait for valid documents before a foreclosure? If insisting that banks have legitimate documents before they destroy someone's life, Cantor and the GOP may realize that yes, Americans do like government intervention. It's unthinkable that anyone could even suggest banks have the right to foreclose without correct paperwork. Of course consumers need to be responsible for themselves but the same should also apply for banks, no? More from Think Progress:
On Fox News Sunday, Rep. Debbie Wasserman-Schultz (D-FL) called for a nationwide moratorium on foreclosures, saying “it’s absolutely imperative that we keep people in their homes.” House Minority Whip Eric Cantor (R-VA) disagreed strongly, however, saying he was “just perplexed” at Wasserman Schultz’s answer, and that “people have to take responsibility for themselves.”
CANTOR: I’m just perplexed to that answer, Bret… what we’re seeing if you do that, if you impose a moratorium on foreclosures what you are telling people and institutions that lend money is they do not have the protection to take the risk they need to, to extend credit for people will get a mortgage. You’ll shut down the housing industry if that is the case[...]
What we’re talking about, Debbie, you have 10 percent, if that, of the population who are now in a foreclosure situation or in a mortgage that they have been unable to meet the obligations… Now, come on, people have to take responsibility for themselves. We need to get the housing industry going again. We don’t need government intervening in every step of every aspect of this economy.
