A pattern to Grassley's obstructionist ways

In February 2009, Grassley said he wouldn't vote for the stimulus package unless it contained mortgage relief for struggling homeowners even though he held a fundraiser with mortgage industry brass.  He also voted against cramdown months after calling for mortgage relief in Sen. Dick Durbin's amendment that would have allowed single residence homeowners to reshuffle their mortgage if they were falling behind on payments.  The law currently allows multiple residence homeowners to do this for their vacation homes and yachts. 

Now,  Grassley says the deal breaker for him in health reform is the individual mandate.  If folks are penalized for not carrying insurance, he won't support health reform.  But last summer he supported the individual mandate in at least 2 interviews. 


Continue Reading...

Grassley fundraiser w/ mortgage industry, after voting against Cramdown

“Grassley Hosting Fundraiser With Mortgage Industry Lobbyist, Months After Opposing Cramdown”



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. The senator is hosting a fundraiser on Monday evening with lobbyists and a political action committee representing, among others, key players in the mortgage and private equity industries.

The event will take place at the swank Capitol Hill restaurant, The Monocle, steps away from the U.S. Senate, and is soliciting donations of $2,500 to “host” or $1,000 for PAC or personal contributions.

The organizers of the event include Smith “Smitty” Davis, a lobbyist for the mega-firm Akin, Gump, Strauss, Hauer & Feld, Pace Bradshaw of the Mortgage Bankers Association, Suzanne Hutchinson of the Mortgage Insurance Companies of America, and the political action committee for Aflac Insurance.

Continue Reading:



Continue Reading...
View More...