More moral hazard

Remember this the next time a Virginia politician starts lecturing you about Godly values. Sounds more like Mammon to me!

RICHMOND, Va. — A state House subcommittee voted Monday to effectively kill legislation that would have slowed the pace of home mortgage foreclosures in Virginia that is among the fastest in the nation.
With one dissent on an unrecorded show-of-hands vote as the powerful banking lobby looked on, a Commerce and Labor subcommittee sent the bills for more study by an obscure gubernatorial task force.

The action included all House bills addressing what Sen. Chap Petersen, D-Fairfax, calls “drive-by foreclosures.”

Delegate Bob Marshall’s bill, which was before the 11-member panel, would have extended the foreclosure notice requirement from 14 days to 45. It would also require that loan and property records be recorded in local courthouses.

“What you saw in there was government of the banks, by the banks and for the banks,” Marshall, R-Prince William, said afterward.

And remember, folks: Virginia’s not for lovers!

2 thoughts on “More moral hazard

  1. For more than a thousand years the Christian church forbade the lending of money at interest as a violation of Jesus’ commandments to “Do unto others as you would have them do unto you.” and to “Lend to him who asks, expecting nothing in return.”

    So much for Christian values restoring our country to the standard of biblical law.

Comments are closed.