DEM SENATORS FINK OUT ON BANKRUPTCY – by Jim Hightower

A note about Jim Hightower, he always bills himself as AMERICA’S FAVORITE POPULIST.  ~sekanblogger

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What is it about Democrats in Washington that makes them clang a slam-dunk?  

They have the greedheaded, boneheaded Wall Street bankers back on their heels, exposed as frauds and finaglers. They also have the broad public shouting that those being ripped off by the bankers ought to get some semblance of justice. Yet, on April 30th, Senate Democrats flubbed an easy shot to support hard-pressed American homeowners who’re being unfairly squeezed by banksters. 

At issue was a common-sense proposal by Sen. Dick Durbin – a top Democrat – to allow bankruptcy judges to lower the monthly mortgage payments of homeowners trapped by exploding interest rates imposed by banks. This would keep families in their homes, stop the decline in housing prices, and boost our economy.  

But Wall Street screamed, spooking a number of pusillanimous Democrats. “Timid Timothy” Geithner, the treasury secretary, meekly cautioned that there should only be “carefully designed changes” to the bankruptcy laws, so as not to create “uncertainty” for Wall Street. Never mind the uncertainty that millions of homeowners face.  

Barack Obama himself, who had pledged in the election campaign to stand with homeowners on this issue, suddenly disappeared, refusing to take a shot. Then came the capitulation of 12 Democratic senators, who joined every Republican to back bankers and keep ordinary folks from scoring this important victory.  

Who were the 12 Democrats who deserted us you ask? Let’s call their names! Max Baucus of Montana, Michael Bennet of Colorado, Robert Byrd of West Virginia, Tom Carper of Delaware, Byron Dorgan of North Dakota, Tim Johnson of South Dakota, Mary Landrieu of Louisiana, Blanche Lincoln of Arkansas, Ben Nelson of Nebraska, Mark Pryor of Arkansas, Jon Tester of Montana – and that brand new of Democrat, Arlen Spector of Pennsylvania.

4 Comments

Filed under Economics, Political Reform, Populists

4 responses to “DEM SENATORS FINK OUT ON BANKRUPTCY – by Jim Hightower

  1. wicked

    Good for Hightower for mentioning those names!

    It does bother me that not enough people in politics are doing what’s necessary to help out the little people. Without the little people, nothing will happen, nothing will get better.

    I’ve said for several years that outsourcing jobs might put some extra $$ in the the pockets of those who don’t need it, but in the end, it’s gonna kill ’em. When there are few left here to buy the goods and services, who’ll be buying them? It works the same for the banks. Don’t want to set the bar a little lower so more can participate? Then participation is eventually going to s-u-c-k.

  2. jammer5

    No surprise there: Business still runs Washington, and when business pays the election bills, politicians line up like pigs at the trough. I expect the same thing to happen when, and if, health care comes up for a vote. Change in Washington is limited to something that rattles around in ones pocket.

  3. Excellent. Stuff like this is what makes blogs so important.

    Plus, I love the word banksters. Is that your invention?

    Brilliant.