Remember that time that Citigroup caved into a proposed update to bankruptcy law that would allow judges to modify mortgages of homeowners who were having a real bad day, and Citi agreeing with the changes was supposed to encourage other banks to do the same?  You should, it was just yesterday.  Well, part of that didn’t happen.  The American Bankers Association is maaad, or at least as mad as an industry association group can get about something.

The ABA  released a statement today in which it pretended its member institutions genuinely care about consumers, saying the proposed changes could make home mortgages more expensive, which of course is barely-concealed code for “We will be able to screw fewer people.”

“ABA is opposed to the agreement because it will leave in place overly broad mortgage cram-down authority and other provisions that will harm thousands of banks across the country that have made, and continue to make, good loans,” said Floyd Stoner, ABA’s executive director for public policy.

Floyd, pictured above, is just dying to hear the jokes you just made up about his name, since middle school was not a daily torment for him at all.  He is also a banking industry lobbyist, so lace up your boots.

Hey, here’s an idea: any institutions which did not receive any federal bailout money are exempt from the new rules.  What?  Ohhhh.  That’s what I thought.  Some financial wizards think there just might have been a link between Citigroup’s sudden about-face and the $45b in money it has received from the federal government, to which LOLFed can only reply with a hearty “Duhhhh.”