Comments on: Senate Refuses to Let Judges Fix Mortgages in Bankruptcy

By: jdickenslaw

jdickenslaw — Sat, 02 May 2009 01:47:05 +0000

I disagree. Bankruptcy courts do that with every other type of contract. That's the whole purpose of Bankruptcy. It's amazing that you don't consider the banks to be a special interest group, but they are, and they won this round again. Yes, we are a special interest group too, and I don't believe this battle is over just yet.

By: jdickenslaw

jdickenslaw — Sat, 02 May 2009 01:42:58 +0000

First of all, just because President Obama hasn't had a news conference, doesn't mean he isn't working behind the scenes. Second, if we make a big push to show our support for this bill, he will have most likely make more public push. Have you got a Petition to sign?

By: RobM

RobM — Sat, 02 May 2009 01:19:23 +0000

The failure on this issue in the Senate lies directly at President Obama's feet. He made the speech vocalizing the issue. Outside of the speech I have not heard at any press conference or briefing by White House staff or Cabinet members this IS to be policy.
President Obama has an opportunity to straighten this out if it is in the House bill and he is prepared to fight for it in the reconcilation bill.
If he is counting on people having short memories before the 2012 election he is going to be very surprised.

By: spirit_55z

spirit_55z — Fri, 01 May 2009 23:43:55 +0000

(D) NY Rep Carolyn Maloney on The Ed Show- On Bank Credit Card bill

By: spirit_55z

spirit_55z — Fri, 01 May 2009 22:19:56 +0000

Montana Senator Max Baucus-
Chairman of US Senate Committee on Finance

http://finance.senate.gov/

Arkansas Senator Mark Pryor

Serves on Small Business and Entrepreneurship Committee

http://pryor.senate.gov/committeeshome/index.cfm

By: southernbelle

southernbelle — Fri, 01 May 2009 22:11:17 +0000

agreed. there has to be some balance. as much as i hurt for those who have their backs up against a wall, this needs to be looked at from a macro view. this serves as a pronounced reminder that education programs w/in communities & churches need to be to implemented. these programs should define & teach how to make prudent decisions when purchasing homes, investing, etc. i knew that even though the mortgage lender said i could purchase a home at one level didn't mean i should, and i didn't. we have to take some onus in this. with that said, the mortgage lenders did overstep bounds in some instances by not clearly disclosing certain aspects regarding terms and conditions. in those cases, yes i think some leniency should be given.

By: RonnieB

RonnieB — Fri, 01 May 2009 22:02:20 +0000

Baucus and Pryor (both Democrats) voted for the Bank Bailout, and against the Homeowner Bailout.

By: spirit_55z

spirit_55z — Fri, 01 May 2009 19:32:04 +0000

You REALLY mean it.

By: CraigHickman

CraigHickman — Fri, 01 May 2009 19:18:20 +0000

Fuck all of them.

With no lube.

By: spirit_55z

spirit_55z — Fri, 01 May 2009 19:09:16 +0000

Second bailouts under Obama

http://blogs.abcnews.com/politicalpunch/2009/01...

Check out the roll call and votes.

http://www.senate.gov/legislative/LIS/roll_call...

By: spirit_55z

spirit_55z — Fri, 01 May 2009 18:54:29 +0000

Bailout Vote Supporters Election Results

http://www.seektress.com/bailvote.htm

By: isonprize

isonprize — Fri, 01 May 2009 18:42:43 +0000

RobM has also helped me understand it. I will freely admit to not being up on the issue. Thanks Rob.

By: Conserv1

Conserv1 — Fri, 01 May 2009 18:34:00 +0000

A moment of temporary sanity in the Senate.

"If bankruptcy judges can arbitrarily reset principal values, then it gives less incentive for people to honor the contract they willingly signed.

That is the bigger principle at stake. We are supposed to be a nation of laws, and contract law is supposed to be binding. No one signs a mortgage with a gun at their head. Durbin and his allies want to end the notion that contracts mean what they say. Instead of binding agreements on which people can rely, contracts will become much like the Constitution for the Left — meaning whatever seems expedient from moment to moment."

In the long run, lenders would have to impose even stricter lending requirements since they could not rely on the contractual agreement to guarantee repayment. Many more people will find themselves locked out of mortgages in the future than will find themselves rescued by Durbin’s undermining of contract law.

By: francislholland

francislholland — Fri, 01 May 2009 18:30:54 +0000

Jon Tester. Isn't he one of those “crashing the gates” candidates that Markos C.A. Moulitsas Zúñiga supported? Well, it's sure good the DailyKos candidate was elected or this vote to support the banks would have had to be made by a Republican instead.

It hurts less when we're buggered by a DailyKos-approved “libertarian” Democrat, right?

By: RonnieB

RonnieB — Fri, 01 May 2009 18:03:51 +0000

I'd like to know how those Democrats voted on the Bank Bailout. If they voted “no”, then I suppose they're being consistent. But a “yes” vote for the banks and a “hell no” vote for the people, cannot be tolerated.

By: ChrisChambers

ChrisChambers — Fri, 01 May 2009 17:24:19 +0000

I'd don't fault those 12 (including newly minted Dem Specter). Durbin is right, and it's a 101% bet that Joe Biden would have voted with them. Would Sen. Obama have done so had he still been in the Senate. No, yet this issue is central to the misery of the people who put him in the White House, and who yearned for change as billions in their $ was sent to these same banks.
LBJ told the Senate to stop the bullshit and pass the Civil Rights Act of 1964 and Medicare. Truman singlehandedly bypassed Congress and stepped into the steel crisis and coal strikes, and desegregated the Army and fed govt. Teddy Roosevelt got tired of waiting on Congress and took on Standard Oil, the sugar monopolies and, forshadowing today, JP Morgan.
I know Barack's Mr. Calm and Cool, but it's time to get the people riled.

By: spirit_55z

spirit_55z — Fri, 01 May 2009 16:29:18 +0000

No Evan hasn't been cute for a while

http://usa2008.blox.pl/resource/Evan_Bayh.jpg

http://s3.amazonaws.com/findagrave/photos/2001/...

By: EdnaMae

EdnaMae — Fri, 01 May 2009 15:39:00 +0000

Same here not a single penny, ever, they are not that much better than the GOP and once they start getting that money from lobbyists, they soon forgot about those who voted for them.

This is just the start of the obstructionist part of the Democrats in Congress to Obama's plans and they will be a bigger thorn that the GOP I would wager a bet.

One other thing, Evan Bayh has not been cute for a while now!!

By: Luxuriate

Luxuriate — Fri, 01 May 2009 15:27:47 +0000

Hispanic Caucus offended by images in Boehner’s fearmongering video.

On Wednesday, House Minority Leader John Boehner (R-OH) released a fearmongering video, asking if Americans "feel safer" under President Obama. But one image in the video has caused outrage in Congress. After a shot of Obama shaking hands with Venezuelan President Hugo Chavez, the video cuts to an image of Obama meeting with the Congressional Hispanic Caucus:

Yesterday, the group sent a letter to Boehner, demanding an apology "for the inclusion of the picture of the CHC meeting with President Obama in the video." "The video posted on Congressman John Boehner’s official website is a completely inappropriate message for the leader of the minority party to send to the American people," said Rep. Nydia Velázquez (D-NY), chairwoman of the CHC. Rep. Raúl Grijalva (D-AZ) called the video "not only inflammatory," but also "racist." Boehner spokesman Michael Steel, however, dismissed the CHC criticism as "beyond silly."

Let the game begin:)

By: Llenda Jackson-Leslie

Llenda Jackson-Leslie — Fri, 01 May 2009 15:23:25 +0000

This is why I don't give money to DNC, DCCC or DSCC..