The above headline comes from the idiot executives at companies like Countrywide, Bear Sterns and any of the other hundred or so subprime lenders that feasted on ignorant victims. Why are they rejoicing you ask? Because of this:
The New York senator proposed greater protections for lenders from possible lawsuits by investors, a variation of so-called tort reform. For years, GOP leaders have called for restrictions on what they consider unwarranted lawsuits against businesses. Democrats have often resisted them on grounds they limit injured parties’ legitimate rights to redress.
“Many mortgage companies are reluctant to help families restructure their mortgages because they’re afraid of being sued by the investment banks, the private equity firms and others who actually own the mortgage papers,” Clinton said in what she billed as a major address on the economy at the University of Pennsylvania
Ain’t this a great idea!? WOOOHOOOOO, now companies don’t have to be beholdent to their share holders! ALLLLRIIIIGHTTTTTTT!!!!! Party baby!!!!! Sure, she wants to protect the companies from being sued by their investors, Wink, Wink! I can only imagine who this really helps. Sort of like protecting the cigarette companies before all the facts came out. Sort of like protecting the fast food companies before we know all the facts…
This is so awesome man! I can’t see anything but upside in not being allowed to sue a company if I were a shareholder!