Tales from the Trail
Last night Reuters correspondent Scot Paltrow revealed that a bill had sailed through the Senate last week — without public debate — which would have made it significantly harder for homeowners to challenge improper attempts to foreclose on their houses. The legislation, which was sitting on President Barack Obama’s desk for his signature, would have forced courts to recognize out-of-state notarizations, including those stamped en masse by computers in other states, a practice critics say has been used improperly to push through foreclosure orders. Computer notarizations, now valid in around a dozen states, would effectively have become legal nationally, and challenges to improper notarizations made in other states would have become harder and costlier.
from Summit Notebook:
Republicans stand poised to gain substantial influence in Congress, putting at stake billions of dollars in investment as a shift among power brokers throws legislative initiatives old and new into doubt. Reuters Washington Summit will bring together an influential line-up of insiders just weeks before Americans cast their votes, promising a must-read stream of exclusive news on the outlook for Congress and President Barack Obama's agenda. Editors and correspondents from the Reuters Washington bureau are sitting down with senior lawmakers, including GOP heavyweights in line for leadership, and regulators whose implementation of Wall Street and healthcare reform could be complicated by a change in control on Capitol Hill.
Consumer advocate Elizabeth Warren is among a handful of candidates President Barack Obama is considering to become the first chief of the Consumer Financial Protection Bureau. Some ardent supporters clearly think the Harvard law professor (and chief of a panel monitoring the government’s $700 billion bailout of the financial system) is up for the task of heading the independent agency created under the financial reform bill signed into law last month.
TV cameras zoomed in on corporate executives squirming, a top federal regulator promising answers and U.S. lawmakers venting anger.
from Summit Notebook: