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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (96359)	12/6/2007 8:57:27 AM
From: ChanceIs	Read Replies (2) \| Respond to of 306849

>>>This completely ignores the fact that the actual owners of these mortgages will sue the servicer's in droves.<<< I copied a WSJ article the other night in which Ms Hillary was quoted as proposing legislation which would prohibit such suits. I was quickly redacted - I can't find tat portion anywhere today. I figure Hillary opened her kimona a tad too far (what a thought), her advisors caught wind, and used some pull with the WSJ to prevent her "centrist" image from being completely blown. >>>Anyone who thinks Congang can alter contract terms after the fact is a bit daft.<<< Good God Patron, aren't you reading any of my wailings about the late Calpine Corporation. Calpine signed LT power contracts with California in 2001. In late '04 while attempting the tenth version of what became the '05 Energy Bill, the California delegation attempted to insert language "abrogating" the contracts. The matter was never voted up or down...the Republicans used procedural tricks to keep it out of the package. The matter is now before the US Supreme court. You know I hold you in high regard for your intelligence and commitment to this sector, and I have profited well from your knowledge - even the Mohican, but it took a while. *YOU ARE VERY SERIOUSLY MISTAKEN IF YOU THINK OUR FEDERAL GOVERNMENT GIVES A RAT'S ASS ABOUT THE SANCTITY OF CONTRACTS.* There are few holdouts for sanity and the rights of private property - about 15 or so. The Pubs and Dems trample all over contracts for their immediate ST political gains. >>>There's a whole lot of case law, and statuatory and Con law, and contract law, about bills of attainder and "changing the rules after the fact".<<< You would think so. See my comments immediately above.