housing

U.S. Senator Jim Bunning (R-Southgate) has joined with Senator Jim Demint (R-South Carolina) to push for a vote to send controversial housing legislation back to committee.

In a statement released this afternoon, Demint re-iterated concerns that mortgage companies - and Countrywide Financial, in particular - could benefit extensively from the current incarnation of the housing bill.

"There have been very serious concerns raised about actions taken by Countrywide and we need to know what they stand to gain from this bill," said Senator DeMint in a statement dispatched jointly by the two Senators. "The Banking Committee needs to conduct a full investigation and make public the amounts that individual lenders will receive from this massive bill."

Senator Jim Bunning (R-Southgate) spent much of Thursday reiterating his criticism of two pieces of housing legislation before the Senate. During a morning appearance on CNBC’s “Squawk Box,” Bunning had harsh words for proposals by Senator Chris Dodd (D-Connecticut) and blamed Federal Reserve Chairman Benjamin Bernanke for “sitting on his hands” while foreclosures skyrocketed.  read more »