Sen. Durbin Ready to Strip Provisions Hazardous to MBS Market from Employee Protection Legislation
September 20, 2002
The author of pending federal legislation that has made the entire mortgage and mortgage securities market nervous now appears ready to rework his proposal to eliminate the potential damage. Sen. Richard Durbin, D-IL, this summer introduced legislation aimed at protecting employees and retirees when companies file for bankruptcy. His bill, S. 2798, the “Employee Abuse Prevention Act of 2002,” includes two