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America Wants Claw-Backs, Survey Shows

(EMAILWIRE.COM, July 28, 2009 ) -- Apparently fed-up with the way the U.S. government is handling the financial crisis, more than 2 out of 3 surveyed say they want Congress to pass laws to force corporate executives to return money they received as bonuses.

The new Housing Predictor poll found that 67% or more than 2 out of 3 Americans want Congress to pass legislation requiring bankers, Corporate CEOs and other corporate executives to return the bonuses to help defray at least part of the cost of the U.S. financial crisis.

Banking lobbyists and lobbyists associated with the building and real real estate industries have been fighting claw-backs in Washington, D.C. However, faced with the worst recession since the Great Depression policymakers are holding a series of hearings to come up with solutions to the economic crisis, and in times of crisis elected government officials are called on to take actions that are unprecedented.

Wall Street bankers concocted new formulas to trade derivatives and other securities on Wall Street that were unregulated, promoting a call for new legislation to control such trading practices. The securities tied to Wall Street and the formation of new creative mortgages developed by bankers is being highly blamed for the crisis, which triggered a record level of home foreclosures.

The financial crisis has also triggered more bankruptcies of businesses than since at least the 1960’s. Unemployment is sky-rocketing and as more employees lose jobs foreclosures are expected to worsen resulting in growing housing deflation.

Housing Predictor forecasts more than 250 local housing markets in all 50 states. Check your market forecast, search real estate listings, find a foreclosure, take the new Predictor Poll and check the latest real estate news at

Headline Press LLC
Mike Colpitts

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