Jill Stein, the Green Party's presidential candidate, is out of jail after her arrest at a Philadelphia bank, the Daily Beast reports. "As long as the predators are in charge of the chicken coop," Stein told the publication, there would be no improvement to America's economy.
Why did police arrest Stein?
Photos posted on the Green Party website show that Stein and her running mate protested the foreclosure procedures of Fannie Mae and banks. Holding up signs stating "Mitt Romney and Obama don't care about families losing their homes" and "The banks and Fannie Mae are getting away with theft," the politicians awaited law enforcement in the bank lobby.
What is the Green Party's position on foreclosures?
The Green Party platform calls for a four-year suspension of foreclosures on primary residences "valued under $350,000." The party cites deceptive foreclosure practices as one of the reasons for this stance.
Mitt Romney: "Don't try to stop the foreclosure process; let it run its course"
"Don't try to stop the foreclosure process; let it run its course," the GOP's candidate notes during an interview, a part of which is available on YouTube. As noted by the New York Times, Romney believes that a speedy foreclosure process will lead to the housing market's recovery as investors and qualified borrowers purchase foreclosed homes. When pressed during a debate if this type of real estate market policy is feasible, the candidate turned the tables and asked what else there is to do, "have the federal government go out and buy all the homes in America?" (The 2008 Republican Party platform does not have an entry pertaining to foreclosure.)
2008 Democratic Party Platform: "We will ensure that the foreclosure prevention program enacted by Congress is implemented quickly"
The Democratic Party's platform assures Americans that foreclosure prevention programs for at-risk homeowners will find quick implementation. In February 2012, the Obama Administration introduced its foreclosure relief plan, as reported by the Press Enterprise. Although the plan received Congressional approval, the overseeing entity for Fannie Mae and Freddie Mac refuses to go along with the plan, The Hill reported this week. "We concluded the potential benefit was too small and uncertain relative to unknown costs and risks," the Federal Housing Finance Agency informed Congress.
- Politics & Government
- Real Estate
- Jill Stein
- Fannie Mae
- Mitt Romney