Politics

Bankers Defeated Bankruptcy Bill Today-But Started Celebrating Last Night *VIDEO*

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You would think this year’s Mortgage Bankers Association annual meeting would be a rather solemn affair — given the criticism the industry has endured in recent months. But while filming at the meeting I found the bankers in a celebratory mood. The reason? A massive lobbying campaign against bankruptcy reform legislation known as “cram-down” was working.