Rep. Larry Kissell the only NC Dem to Vote with the Banking Industry & Republicans

After running a campaign where he promised to represent the working person, Rep. Larry Kissell voted for the banking industry by opposing H.R. 1106. He was not joined in his opposition to the legislation by any other North Carolina Democrat. Republican Walter Jones joined Democrats in voting to help the vast majority of families who are near foreclosure as a result of unemployment, personal or family illness, divorce, death in the family or fraud on the part of banks.

The Center for Responsible Lending released numbers for every state showing the minimal number of mortgages that this legislation applies to. Certainly not enough to punish the rest of us and absolutely not enough of a caseload to bankrupt the already bankrupt banks.



With their votes, Foxx, Coble, Kissell, Myrick and McHenry turned their backs on the thousands of people who did the right thing and are still facing foreclosures. With their votes, these North Carolina Representatives gave cover to the banking/mortgage industry and the greed that drives it. With their votes they gave cover to the following criminals:

Eight mortgage brokers charged with fraud in Greensboro in 2004
Six mortgage brokers and 15 coconspirators are sentenced for multiple counts of mortgage fraud.
Fayetteville mortgage broker pleads guilty to fraud 2008.
Fayetteville Mortgage Broker Pleads Guilty 2009
Mortgage broker pleads guilty to 21 counts of fraud - admits to hundreds 2009.

There are many more cases in this state, but let's look at the case listed above from 2007. From the FBI report:

Mortgage fraud poses a significant concern for federally insured and uninsured lenders. Mortgage fraud also threatens the well-being of neighborhoods when fraud leads to mass foreclosures and reduced property values. Since 2002 in the Western District of North Carolina, lenders and homeowners have suffered tremendous losses in association with mortgage fraud schemes. A number of these schemes have been derailed and exposed by law enforcement authorities. Mortgage fraud is generally defined as fraudulent schemes involving the submission of false information to lenders and others in order to obtain mortgage loans that would not otherwise legitimately be approved. Such schemes also include the creation of fraudulent loan documents in order to obtain loans at higher values and lower rates than would be legitimately available. These schemes employ various professionals such as recruiters (promoters), attorneys, appraisers, mortgage brokers, and builders who conspire together to successfully execute the fraud scheme. For example, a buyer or investor (potential victim) is recruited. A set of falsified loan application documents is prepared and submitted in which the lender (potential victim) is provided with an overvalued appraisal of the property and an overvalued loan is approved. Ultimately the property forecloses due to the inability of the original buyer or investor to make the payments, and the lender is left to suffer the loss. In the meantime, the conspirators who worked together to execute the scheme have appropriated the difference between the overvalued loan and the actual value of the property. These figures, given current property values, soon reach into multi- millions of dollars.

Do you notice that even in this FBI press release they list the buyer or investor as the potential victim? So, Foxx, Coble, Kissell, Myrick and McHenry are willing to punish the victims of mortgage fraud. And from the evidence I'm finding, there are quite a few victims out there. Nice.

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Comments

I simply can't express how disappointed I am in Larry

I never expected to agree with him on everything, but I didn't believe he would throw compassion out the window.

He might not have trouble getting re-elected, but he's going to have some trouble raising money from progressive Dems. The bank PACS will be lining up to donate, though.



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Vote Democratic! The ass you save may be your own.

Kissell Signs

I have some Kissell signs that I was saving. Anybody want to join me in a game of darts? You say I am over reacting? I know. I don't care.

Lovex7

I believe in signs of a different kind....

A few nights ago when it got so cold something happened to my Kissell bumper sticker. The girls and I went out in the morning so I could drive them to the bus stop and the only bumper sticker that had been damaged was the Kissell bumper sticker. Both sides had curled up away from the glass and snapped off when touched.



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Vote Democratic! The ass you save may be your own.

Power & Money usually wins out.....

The lobbyists will seek you out......

Ignoring Signs

Sometimes we ignore signs, but I can honestly say that I did not see this coming. I am as mad at myself as anybody. I feel so stupid. At least I have a lot of great company. That makes me feel a little better.

Lovex7

Are you calling me stoopid?

:D



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Vote Democratic! The ass you save may be your own.

Hmmm

It does sound like that, doesn't it. We both lost faith. Is that better?

Lovex7

I just don't understand

what happened. Why, why, why?

We had a long talk about this last night

I put my personal reputation on the line in my community, convincing many of my friends and many more acquaintances to give Larry's campaign a good, close look. With him being an unknown, they needed the confidence of someone who had talked with him a few times and heard his passion about regular people. They gave money based on my word.

I suspect the Congressman thinks he's doing right by regular people with this vote, but he is wrong. He didn't think it through. And I'll be fielding calls all day from people who have good reason to distrust both him - and me.

a lot of supporters in the 9th

There were a lot of people in the 9th district (Meck, Union, and Gaston) that worked for Kissell and supported him in '06 and '08 and it is our district that is getting hit the worst in the state. We have a trifecta working against our area: McHenry, Myrick and Kissell.

Doesn't Understand

Some people think he doesn't understand the bill. I'm pretty sure he can read. It is obvious this bill helps the "little people". Hey, with the new bill he is cosponsoring with the repubs maybe we can all get $5,000 because we pay on time.

Lovex7

big picture

Very disappointing, but thankfully it passed easily.
I won't give up on Kissell from one vote. (Would love an explanation though.)
I'm hoping his overall voting record for his term will out-shine this. (Afterall he did vote for the stimulus.) At the very least he'll be miles above who he's replacing. And I still hold hope he'll overall still be more progressive than Shuler or McIntyre.

Oh...I'm not giving up

I just expected a more thoughtful explanation from him. I expected more compassion. I had hoped he wouldn't fall into the "well, he's better than a Republican" category so quickly.

It won't hurt his ability to win in a general election and I think he can still win in a primary, but he will probably face more competition in a primary and he will have a more difficult time raising money from Democrats here in NC.



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Vote Democratic! The ass you save may be your own.

THAT is exactly the point.

For a netroots candidate to fall into the "well, he's better than a Republican" category would be a real blow to the Progressive community. Look, we got behind Heath Shuler knowing he was going to be a DINO. But, Larry seemed like a true-blue Democrat.

HOWEVER, having said that, if he can supply to me the underlying Progressive principal that this bill ignores then I will be happy to hear from him. I am recording a video about the grants I am writing which deals with this very issue - standing up for your basic beliefs even when a specific issue seems to be unfavorable. It should be up around noonish.


BTW, feel free to comment on Larry's wall
. I did.

Jesus Swept ticked me off. Too short. I loved the characters and then POOF it was over.
-me

PS

I did e-mail him about this bill three times. He never bothered to respond. Believe me, during the campaign if I called or e-mailed him he responded before the day was over. My, My how things change when you don't need people any more.

Lovex7

Figured you, Betsy and James already did

I know I'm grasping at straws, but this is out of the realm of reality....What happened Larry?

Larry's website clearly states that he will not answer any

e-mails that are from outside his district, so if you do not live in the 8th district you will need to make a phone call to ask what in the world he was thinking when he voted as he did on this legislation.

His D.C. number: (202) 225-3715
Fayeteville office: (910) 920-2070
Rockingham office: (910) 997-2070
Concord office: (704) 786-1612

Very disappointed here in Fuquay Varina. A lot of time and $$$$ was spent to bring a somewhat progressive Democrat to the 8th district, who needs a champion of the people more than most areas can imagine.

North Carolina. Turning the South Blue!

I'm in his district

and he knows me personally. That made no difference. He did not respond to me at all.

Lovex7

Larry Responded

Larry finally responded to me late yesterday, and I appreciate it. I wish he had responded before the vote. His e-mail was in plain English, and it sounded VERY Republicanish (not plain English). Everyone I have shared it with has said the same thing. This all hurts me more than you know.

Lovex7

Would you post it please?

Since I haven't gotten a response to my email yet.

I won't post it BUT

I will forward it to you if you will send me your e-mail address.

Lovex7

I think I sent it to your e-mail.

I'm not very good at this so let me know.

Lovex7

Everybody take a chill pill

Looking at some of the reactions here I could swear Kissell just voted to deny the holocaust.
We all knew it was just a matter of time before we would disagree with our new congressman on something.
Did you honestly think Larry would vote the way you would on every single issue? I sure didn't. If I wanted a congressman that would agree with me on everything I would run have to run for Congress myself.
I'm sure i can find some vote of Brad Miller that i disagree with.
Larry is not like Heath Shuler where I actually have to look really hard to find a bill I agree with him on.
It's not like Kissell cast the deciding vote to pass legislation that was devastating to workers in his own district, after saying over and over again that he wouldn't vote for it.
So yes, voice your concern, disagree and demand an explanation, but aren't quotes like "I lost faith" and "I feel so stupid" a little over the top? It's one vote people!
Just saying...

Chillax!

Tell you what....

when you've read the legislation, understand what it addresses and recognize the banking industry talking points coming out of Larry's mouth....THEN you can tell us to chill. Also, if you've read what I've written - I've said time and again that I knew I wouldn't agree with Larry on every vote. I've received over 30 emails at this point and they are about 90% negative against Larry. Four or five are wondering if he'll give their money back.

This isn't about agreeing with Larry on every vote. This is about Larry not having a response that appropriately explains his philosophical difference with the legislation other than it was a chance to vote against the Democrats.

Maybe instead of being so "chill" you should better educate yourself on the issues.



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Vote Democratic! The ass you save may be your own.

Thanks for being so nice about it

I was about to say something obscene that I would have to apologize for.

You've nailed the issue. It's not about the vote, it's about the rationale. I don't expect Larry to agree with me very often at all, but I do expect some understandable explanation for his choices. Especially choices that favor banking interests over regular people.

Without that explanation, Larry is off my list. It's that simple. Every cycle, Jane and I dig deep to support candidates who have the potential to make Congress a more sane and balanced place. There are always more candidates that need help than we have money or time. So we make a list to focus our efforts. The truth is, it's hard to get on our list because there's so much competition. But for the same reason, it's easy to drop off.

I've studied this bill and heard arguments on both sides. I think it's going to be really hard to come up with an acceptable explanation.

I like obscene.

You can always send it to me in private :-)

yes ma'am

This is about Larry not having a response that appropriately explains his philosophical difference with the legislation other than it was a chance to vote against the Democrats.

I haven't seen a response yet, have you? I know they're working on it...
I'd refrain judgment until I hear an explanation.

And yes it is about agreeing on every vote, because this is the first vote we all here, including me, disagree with him on.

I'm just saying that if everybody reacted like some people on here, because of one vote of their Congressman, Congress would be empty.
Then again, maybe it needs to be.

I've seen the press release

with quotes from Larry. There was an explanation in the press release. He would have to refute his own press release to offer an explanation that is suitable.

Kissell Votes Against Democratic Bankruptcy Bill,

Supports Preventing Bankruptcy and Offering Incentives for Paying Mortgages on Time

Washington—Congressman Larry Kissell joined 23 other Democrats and 167 Republicans in opposing HR 1106 today. He cited concerns that we shouldn’t have a housing plan that has bankruptcy as a centerpiece. “In North Carolina around 3 percent of mortgages are seriously delinquent, and I just don’t believe it sends the right message to the 97% of folks who are tightening their belts and struggling to pay their bills on time in this hard economic situation we are in,” said Kissell. “I want my constituents to know that if you are in trouble and need help, call my district offices and let us help you get the help you need before you consider bankruptcy.”

Kissell affirmed that he understands some people and businesses do find themselves with no other option and that he supports them having the ability to reorganize, even though he doesn’t support this expansion of the bankruptcy laws already on the books. “I’m very pleased that there are initiatives under way that will allow those who may be facing problems with their mortgage to get assistance through the Department of Housing and Urban Development. My office can put troubled homeowners in touch with the resources they need and help prevent families who are trying to keep their homes from ever entering the bankruptcy system,” said Kissell.

“We have so many Americans who have been paying their mortgage on time and I believe those who have struggled to play by the rules deserve some incentive to continue. I am proud I became the first Member of Congress to cosponsor a bill introduced by Republican Congressman Bill Shuster which grants a $5,000 tax credit to citizens who have made their monthly mortgage payments on time.” H.R. 1317 would reward current mortgage holders of a principle residence with this tax credit if the holder provides certification from the lender that they are not delinquent in their payments. “The misfortune of many Americans suffering from the housing market is troubling, and they will be assisted through this crisis. But then we should also acknowledge and reward the tens of millions more who are managing to stay faithful in their payments,” Kissell concluded.

With the new jobs numbers out, that 97% is sure to decrease.

Crowing that he wants to reduce revenues at a time when there isn't enough money for the government to pay its bills doesn't make one lick of sense. People shouldn't be rewarded for paying their bills on time. Having a good credit rating and being able to get loans when you need them without jumping through hoops is payment enough. Anyone who thinks chapter 13 bankruptcy is a reward needs to think again. It is a long, drawn out process and it damages a person's credit for years.

H.R. 1106 does not help save the homes of people who want to just walk away. It only helps those people who want to pay as much of their debts as they can. These are not usually people who are dishonest or irresponsible. These are usually the people who are filing due to death in the family, divorce, illness, injury, job loss, etc. These are the people we should help.

I've put a lot of effort into supporting Larry on this blog, so when I'm pissed, I reserve the right to hyperventilate over it. :D

Oh...and sorry I snapped at you. I'm angry at Larry and shouldn't take it out on you.



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Vote Democratic! The ass you save may be your own.

Maybe I didn't explain well enough that I actually agree.

I agree with everyone that this was a very bad decision on Larry's part.
I just totally disagree with some people who already seem eager to trade in the new congressman over this one thing.
Seems a little over the top to me and I usually like over the top.
I just wanted to politely offer a paper bag for your hyperventilating :-)

I know this is an oversimplification, but...

grants a $5,000 tax credit to citizens who have made their monthly mortgage payments on time.

helping people who don't need help, and then saying, "Gimme a call and I'll see what I can do" to those who do need help? That's not a moderate or even Blue Dog Democrat position, it's an anti-tax, anti-entitlement Republican position.

I'm finding it hard to reconcile this Larry with things we were hearing a little over a year ago:

Times are certainly tough, yet what unifies us all more than anything, both across my District and across this great nation, is the on-going struggle of working families and unyielding belief in the American Dream. For too many of us though, it's become a nightmare we have to address, before we lose a generation. It is more than just our dwindling manufacturing jobs.

I've been speaking out on the mortgage foreclosure crisis before it even was a crisis – before our kids started having to drop out of school just to help pay bills or attempt to do homework without a home to sleep in.

Thank you for pulling that out

It's almost like they are two different people.



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Vote Democratic! The ass you save may be your own.

Exactly, Betsy

Like you mentioned above, I'm more upset by some of the wording he used in his explanation than the actual vote itself. That reference to people, "playing by the rules", which is a backhanded way of implying that those who've gotten behind in their mortgage payments are not, "playing by the rules", downright pisses me off. Larry knows better than that. He knows that many folks who have, "played by the rules", have lost their jobs and simply can't keep up, because he's talked about that quite a bit.

I'm confused, disappointed and pissed off.

I've Been Giving This Some Thought

While I am not a constituent, I donated to Kissell via BlueNC. My income is less than 30K per year, so I weigh my donations, small as they may be, very carefully.

The outrage by the BlueNC regulars is justified for a couple reasons:

1- This was not just any old vote. This was a damn important one, and, to be honest, a hypocritical one based on Kissell's campaign agenda.

2- BlueNC adamantly supported Kissel. From pounding the pavement to blogging to oppo research to donating money to getting people like me, several counties over, to throw in some cash.

I'm not pissed. I'm disappointed. You guys, on the other hand, are pissed, and rightly so.

One of the things I respect about Larry is that he has shown

himself to be his own man. I don't like the way he voted, but I still like that he was there to vote instead of RobberBaron Hayes. One thing you can be sure of is that he will be willing to explain his vote in plain English - not gobbledy GOPspeak. That's got to count for something.

Sorry, Linda

That's what they used to say about Jesse.

Lovex7

oh, come on

Are we comparing Larry Kissell to Jesse Helms now?
Just a tad over the top maybe??

I agree 100%

I know he is far from being Jesse. I also didn't mean for it to sound like I was comparing you to Jesse supporters. I think you know that, but I want to make it clear. :-) The cry about Jesse was, "You may not always agree with Jesse, but you know where he stands"...like that was a good thing. It is kinda troubling to me that Larry voted against this bill and signed on to cosponsor a bill with a republican....Press Release above. I think I should bow out of this discussion.

Lovex7

Don't bow out.

This calls for examination indeed. I think most of us who supported Larry knew he wasn't "progressive", but now we get to see where he really stands.

Don't bow out.

If you are seriously

If you are seriously comparing Helms to Kissel, you need to take a wlk around the block and gather your thoughts.

Helms was the biggest racist ever to serve in congress. Kissel, while we may not agree with his last vote, is still a progressive.

Of Course Not

I am not comparing Larry to Jesse. I'm only saying that people used those same words to excuse Jesse for anything he said or did.

Lovex7