October 7th, 2010
03:22 PM ET
8 years ago

Obama vetoes bill to speed foreclosures

Washington (CNNMoney.com) - President Obama won't sign a bill that would make it easier for courts to clear foreclosures, the White House said Thursday.

White House Press Secretary Robert Gibbs called the president's action a "pocket veto," although there was some dispute over whether Obama can use that method of disapproving legislation.

Full story

Filed under: issues • President Obama
soundoff (26 Responses)
  1. Annie, Atlanta

    The banks are going to be angry with him. So are their wholly owned subsidiaries, the GOP and the Blue Dogs.

    October 7, 2010 03:26 pm at 3:26 pm |
  2. Fighting Democrat!

    Yep! The President is on our side middle class America. Now! get out there and vote. And don't forget to bring all your friends.

    October 7, 2010 03:31 pm at 3:31 pm |
  3. stevegee

    Since day one, Obama and the Democrats have been foreclosing on freedom and liberty! They have already piled too much of their leftist ideology onto the backs of our citizens, including ObamaCareless, Stimulust, Cap-and-Tax, Czars out the wazoo, and soon the largest tax hike in history. Plus, 70 Democrat members of Congress are also members of The Socialist Party of America. We cannot afford any more of their “change.” Otherwise, we won’t live in the land of the free, but the home of the enslaved.

    On November 2nd, vote for the American principles of freedom and liberty, vote Conservative, vote Republican.

    October 7, 2010 03:34 pm at 3:34 pm |
  4. Pollwatcher

    Thank God. Obama is looking out for the PEOPLE.

    October 7, 2010 03:34 pm at 3:34 pm |
  5. LacrosseMom(real one)

    Thanks be to God, that President Obama IS on the side of Middle Class Americans! The Banks had no problem going to Bush & Hank Paulsen asking for BAIL OUTS..... given to them by the American Tax Payer! But Banks wont work with Middle Class Americans to find an equitable solution to home foreclosure!

    Thank you, President Obama for helping out the little guy!

    October 7, 2010 03:44 pm at 3:44 pm |
  6. vic nashville tn

    House price drop by 25%, more foreclosure its make hard
    When banks give the loan they rush it because every paper we sign they make money

    Many People don’t have credit to get loan when interest rate is low its total mess republicans create this now they are playing politics on this

    October 7, 2010 03:45 pm at 3:45 pm |
  7. Moderate Sean

    Stevegee, your ramblings, per usual, had nothing to do with the fact that Pres. Obama vetoed this particular and potential bad bill! Stop your hating and political hackery and admit for once that Mr. Obama can and does look out for the people. I know it will hurt your pride and ignorance, but give the college try...

    October 7, 2010 03:47 pm at 3:47 pm |
  8. Four and The Door

    Has anyone tried to get a mortgage loan lately or refinance? It's a nightmare, even with years of nothing but perfect credit. Obama is making sure it gets even more difficult.

    Looking out for the middle class? I don't think so.

    October 7, 2010 03:49 pm at 3:49 pm |
  9. stufthis

    How do you point out to stevegee that he can keep his guns? His freedom and liberty are in better shape now that Obama stopped the Bush wiretapping. It would be nice to hear him justify the rightist philosophy of destroying the country economically for the well being of the billionaires and wealthiest Americans. Tax rates are the lowest in 50 years, and the slime sucking republicans under Bush passed the unfunded tax cuts in reconciliation, and it is their own law that is to expire in 2011. Just keep on with the Beckerhead crying points, as some moron will buy into your lies.

    October 7, 2010 03:52 pm at 3:52 pm |
  10. josh

    Stevegee, how can take time away from remembering to breathe to write all that crap?
    Hey look I'm a conservabot moron who can't be bothered to read the story, I just see the word 'Obama' and type-type-type whether it makes any sense or not.

    October 7, 2010 03:53 pm at 3:53 pm |
  11. T'SAH from Virginia

    @stevegee – Your comment has 'nothing' to do with what President Obama has vetoed!!! You claim “…soon the largest tax hike in history…” will take effect? This is a TAX CUT that will expire that BUSH put in place 10 years ago that should not have been done in the first place???-

    This action will help the middle class – those who are making WELL BELOW $250,000 a year – the American people who live OUTSIDE the 'small pockets of America, since they believe the RIGHT is fighting for them – and this VETO will make a difference!!!

    DEMOCRATS – get every politician in your state out there and STATE the CASE and mean it – UNITE the BASE And be proud of it (not WHIMPING OUT) and we will WIN this RACE in November 2010....... I'm with you 'Fighting Democrat' – we can do this!!

    This is T'SAH from Virginia and I approve this message!!!

    October 7, 2010 03:55 pm at 3:55 pm |
  12. Tulsa

    Steevgee, You're pretty good at using all the T-Repub buzzwords. Now, if you want to have a REAL discussion on ISSUES rather that race-baiting, gradeschool namecalling, and oh yeah, outright lies, then I'd be glad to talk about the future of OUR Country.

    October 7, 2010 03:58 pm at 3:58 pm |
  13. 26 Days until Socialism dies in the United States

    Want to talk about unintended consequences? How about all these foreclosures not happening? Houses and property go unmaintained EVEN LONGER. Values DROP, even further. The whole neighborhod and town suffers.

    Meanwhile, the banks are forced to hold these declining value properties on their books, forcing them to maintain higher reserves to cover their now increasing losses. Net effect is that banks now have less to lend! Which is one of the primary factors affecting our economy.

    Once again, a CLUELESS know-nothing president screws up the economy. We may not survive another 2 years of this IMBECILE. Vote OUT ALL DEMOCRATS and their CLUELESS "MESSiah".

    October 7, 2010 04:00 pm at 4:00 pm |
  14. Well done.

    Thanks Mr. President for reading the fine print in bills like this that could actually hurt the American people if signed without looking closer. We understand that not everything a bill contains is going to be black or white, but rather may have traps that do more harm than good. I applaud you on your caution.

    Therefore, I will not be ignorant and judge you negatively on your decisions when I don't have all the facts.

    October 7, 2010 04:03 pm at 4:03 pm |
  15. Can't We All Just Get Along?

    President Obama is FOR the people. WE THE PEOPLE have a president who is looking out for us and is trying to make our lives better.

    Thank goodness that idiot Bush and his regime are gone. They took away our Constitutional rights one by one, our civil liberties, all so they could stuff their pockets with stolen tax money.

    Thank you, Mr. President, for being a president we can be proud of. We went 8 years having to apologize for the looney bin lynch mob that was in the Oval Office before you, and I'm so glad that I no longer have to apologize for Bush's stupidity.

    October 7, 2010 04:03 pm at 4:03 pm |
  16. Dominican mama 4 Obama

    Thank God for our judicious President.
    @ 26 Days until you STFU...based on your posts,you don't have anything that could pass for a clue.

    October 7, 2010 04:03 pm at 4:03 pm |
  17. Tulsa

    Once again to "Steevgee", did a quick fact check on the "70 Dems in Congree are in the Socialist Party"...
    See, there's the outright LIE..... TRUTH IS:
    “Socialist Party of America” has not been in existence for 38 years....AND,
    The list of the supposed 70 members of the non-existent Socialist Party of America’s non-existent caucus is an outdated copy of the membership of the Congressional Progressive Caucus as it stood in fall of 2009..... AND
    A check with the official list of registered congressional caucuses shows that there is no congressional caucus in either 2009 or 2010 containing the word “socialist,” “socialism,” or any other variation on the word “social.” The supposed Socialist Party of America Caucus does not exist.
    So, do your homework or you will just be another Republican who lies.
    PS, you know NOTHING of Freedom and Liberty. If you are willing to LIE, CHEAT and STEAL, you are not worthy to be a citizen.

    October 7, 2010 04:04 pm at 4:04 pm |
  18. La Piovra

    I would rather the President had used the veto pen. What I foresee is that the plutonomists and their TeaBots will contest this all the way to the U.S. Supreme Court and the Roberts wing will twist precedent into pretzeldent to find this wasn't really a veto.

    October 7, 2010 04:08 pm at 4:08 pm |
  19. J-sizzle

    Stevegee is right. Barrack and his lap dogs are taking us for fools. This veto is a ruse to pull the wool over your face, Dems. Not all of you are fools, don't drink the koolaid!

    Remember What Nancy said, if we want to know everything that is in the health care bill, we have to....what? Pass it so everyone can know? Shouldn't we review everything prior to passing it so we don't put into effect careless and dangerous legislation that, however good in principle, is financially destructive to our beautiful country? How can you trust a party who's speaker has lied through her teeth the entire time she has had power? How can you trust a party who's leaders fly around in jets totally funded by the tax payers, yet come back to you and say we use too much energy?

    How can ANYONE trust a party who was so heavily supported by the Gay movement, yet has allowed homosexuals in the military to be ruined by don't ask don't tell?

    How can you trust a man who bases his economic model on keynesian economics, which clearly doesn't work?

    How can you trust a man who associates himself with the likes of former Weatherman Members who claim they WEREN'T RADICAL ENOUGH?!

    open your eyes, be independent, and don't let anyone, any Democrat, any Republican, any Independent, or any Tea Partyist lead you the wrong way. Get the facts, people, get the truth. Read every scrap of information before you make a decision, and remember, the way a man conducts himself in his own life will be reflected in the way he conducts his leadership.

    Let us all pray for an event similar to 1894.

    October 7, 2010 04:11 pm at 4:11 pm |
  20. stufthis

    @26 days. . .
    Bank of America foreclosed on a home in Ft. Lauderdale, and the homeowner did not even have a mortgage as he paid cash. Don't you think the foreclosures need to be looked into before a person loses his home? Banks aren't loaning money anyhow, unless you can prove you don't need it. But, I appreciate hearing Fox's take on the signing of this bill.

    October 7, 2010 04:12 pm at 4:12 pm |
  21. vic nashville tn

    Bank was happy in 2002 to 2006 left right they gave the loan every document they made money let them keep these decline properties let them pay the property tax, they know its coming , Now banks have money they don’t want to lend

    Good move president

    October 7, 2010 04:14 pm at 4:14 pm |
  22. stufthis

    To 26 . . .
    The economy was screwed up when President Obama was sworn in. Even Bush and Paulson said we are on the brink of a great depression. The stock market, in Bush's last year, went from 14,000 to 8000 and gasoline sold for $4 a gallon. And you want to go back, you moron.

    October 7, 2010 04:17 pm at 4:17 pm |
  23. LacrosseMom(real one)

    @ "Four and the Door" HOW could Obama be the blame IF you can't get a mortgage or can't refinance?! The Banks make up their OWN RULES! President Obama does not control the Banks! Our friends just refinanced got a great deal! And our son and his wife got their very first mortgage! SO...... please......... let's tell the TRUTH. Everyone IS sick and tired of GOP-KockTeaParty ........lies!

    October 7, 2010 04:24 pm at 4:24 pm |
  24. mike

    Obama rules. That's right so do all those democrats he is doing a lot to Fix the republican mess. Republicans are some angry people that legalizing marijuana thing is just what they need. U go california

    October 7, 2010 04:25 pm at 4:25 pm |
  25. Can't We All Just Get Along?

    J-Sizzle said, "Shouldn't we review everything prior to passing it so we don't put into effect careless and dangerous legislation that, however good in principle, is financially destructive to our beautiful country?"

    Remember the Patriot Act that basically turned us into a theocratic dictatorship? That destroyed the Constitution? That all you GOPers allowed our freedoms to be taken away while we patriots argued against the usage of such legislation that took away our freedoms? Then we find out NO ONE READ the blasted thing? It was the easiest way for Bush/Cheney to steal power away from the people! This is AMERICA! The government is of the people, for the people, but the people, not of the Bush, for the Bush, by the Bush.

    The Patriot Act was unconstitutional and almost destroyed this country. It was Bush's fault. Where were you, J-Sizzle, when your rights were destroyed by that theocratic dictator?

    October 7, 2010 04:28 pm at 4:28 pm |
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