Word: nadler
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...failure will mean to Main Street what Lehman Brothers meant to Wall Street," says Van Haroutunian, a lawyer at Ballon Stoll Bader & Nadler who represents small apparel firms - many of which have borrowed money from CIT. Haroutunian says he has gotten calls this week from more than 40 of his clients who are nervous about what a CIT bankruptcy would do to their business. "It's going to be a tremendous problem...
...estate loans due in the next few years - hundreds of billions of dollars' worth - could go bust. Jeffrey DeBoer, president of trade group the Real Estate Roundtable, fretted that problems in the lending business could cost the nation thousands more construction and real estate jobs. Next up, Congressman Jerrold Nadler of New York expressed worry that the country was headed for a lost decade of economic stagnation...
There were not many solutions offered. Nadler said he thought the government should create new banks, which, unencumbered by souring loans, would boost lending. Nadler said he thought private investors would be interested in helping fund the new banks. A number of the panelists thought the government's TALF and PPIP programs meant to boost lending were helpful but not the answer. Parkus said he thought extending the terms of commercial loans set to default would only delay the problem and make it worse. As more and more bad loans pile up, he predicted, it will become progressively harder...
...Freedom of Choice Act was introduced in the 108th and 110th Congresses (from 2003 to '05 and '07 to '09, respectively) by Representative Jerold Nadler, a New York Democrat. It was developed at a time when the future of Roe was in doubt because it was unclear if George W. Bush would have the opportunity to appoint another justice to the Supreme Court. But FOCA had a hard time gaining traction - even under Democratic control of Congress, the bill not only was never voted on but never made it out of committee. And now abortion-rights advocates are breathing easier...
...Congressional Democrats have also been less than enthusiastic about the proposal. A spokesman for Nadler says that while he expects the legislation to be reintroduced, "it won't be anytime soon." Even if FOCA is reintroduced in the current Congress, Speaker of the House Nancy Pelosi has indicated she has no intention of bringing it up for a vote. And even if she did, there are not enough votes in Congress to pass the bill...