With More Foreclosures Expected, Durbin Vows to Try Again in 2010
May 11, 2009
Sen. Richard Durbin, D-IL, vowed to try to reintroduce cramdown legislation in the next Congress after the Senate last week rejected the measure on a 51-to-46 vote. The lead proponent of the so-called cramdown provision, Durbin had earlier this year appeared to gain momentum for his bill after snagging Citigroup’s endorsement. No other banks, however...