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      • Native Language:
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    • Join Date: Sep 2004
    • Posts: 773
    #1

    get behind and wayward

    Hello Everyone,

    The following part is taken from yahoo online! I don't understand the underlined. Could you please explain?

    "I hope that you will use your position to jawbone this administration to get behind the housing relief effort before Congress," said committee chairman Charles Schumer, D-N.Y. "Addressing the housing crisis head-on will do as much to instill confidence in the markets as lowering interest rates or bolstering regulatory oversight of wayward mortgage lenders and financial institutions. We need to do all of it."

    Regards

    Sky


    • Join Date: Nov 2007
    • Posts: 5,409
    #2

    Re: get behind and wayward

    'to get behind' is an idiom meaning 'to give/lend your support to' a project or a person. 'to back' it, endorse it.

    As for "bolstering regulatory oversight of wayward mortgage lenders and financial institutions" it means, start taking all your money out of the bank and put it under your mattress!! More monetary institutions are likely to go the way of Savings and Loan.!!

    Committee chairman Charles Schumer, D-N.Y, is wanting the American government to support turning a blind eye if bankers want to steal your money, or hand out money willy-nilly to people who want a loan, even if they can't repay it. !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    He has used 'oversight' when he means 'oversee' !

    What he meant to refer to was, the government supporting some way of regulating financial institutions, some way of overseeing their banking practices so that any with 'irregular' (risky, possibly illegal) practices are more readily detected, so protecting savers and investors from losing their money (as with the Savings and Loan scandal).
    Last edited by David L.; 03-Apr-2008 at 04:17.

    • Member Info
      • Native Language:
      • Chinese
      • Home Country:
      • China
      • Current Location:
      • China

    • Join Date: Sep 2004
    • Posts: 773
    #3

    Re: get behind and wayward

    Quote Originally Posted by David L. View Post
    'to get behind' is an idiom meaning 'to give/lend your support to' a project or a person. 'to back' it, endorse it.

    As for "bolstering regulatory oversight of wayward mortgage lenders and financial institutions" it means, start taking all your money out of the bank and put it under your mattress!! More monetary institutions are likely to go the way of Savings and Loan.!!

    Committee chairman Charles Schumer, D-N.Y, is wanting the American government to support turning a blind eye if bankers want to steal your money, or hand out money willy-nilly to people who want a loan, even if they can't repay it. !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    He has used 'oversight' when he means 'oversee' !


    And another question here!

    Does" Addressing the housing crisis head-on will do as much to instill confidence in the markets as lowering interest rates or bolstering regulatory oversight of wayward mortgage lenders and financial institutions. " mean that with regards to install confidence in the markets, addressing the housng crisis head on plays the same role as lowering intrest rates or bolstering regulatory oversight of wayward morgage lenders and financial institutions.



    • Join Date: Nov 2007
    • Posts: 5,409
    #4

    Re: get behind and wayward

    Yes, though what 'meeting it head on' would entail is not clear from what he says.

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