It is always a treat to hear from Congressman Miller and last night he sent out an email entitled, "I've Been Working. Honest." Although he took a little break from emailing updates to all his constituents after the elections, he wants us to know that he's been on the front lines working for us all.
Although most of the banking and securities industry denied for the longest time that there was anything to worry about, we've known for a couple of years that we would have a bad problem with foreclosures. I introduced legislation a year and a half ago to close a special interest loophole in the bankruptcy law that exempted home mortgages from court modification. Home mortgages are the only kind of debt that a bankruptcy court can't touch. Closing that loophole is now part of the Obama Administration's plan to address the foreclosure crisis.
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