Cramdown Crammed Down Big — By Democrats

Thursday, April 30, 2009 at 4:08 pm

If there was ever a question of who controls the Senate, it was answered this afternoon when Democratic leaders fell a whopping 15 votes shy of moving legislation to empower bankruptcy judges to alter mortgages for the protection of homeowners.

The finance industry had fought fiercely to kill the proposal, and kill it they did. Supporters needed 60 votes to defeat what was expected to be a largely Republican filibuster. Instead they got 45.

Going into the vote, there was talk that a handful of big-bank-state Democrats would join all Republicans in opposing the bill. Instead, that handful became a dozen. They were:  Sens. Max Baucus (Mont.), Jon Tester (Mont.), Tom Carper (Del.), Michael Bennet (Colo.), Robert Byrd (W.Va.), Byron Dorgan (N.D.), Tim Johnson (S.D.), Mary Landrieu (La.), Ben Nelson, (Neb.), Mark Pryor (Ark.), Blanche Lincoln (Ark.) and Arlen Specter (Pa.).

Quite a difference Specter’s defection made.



Rory Talbot
Comment posted April 30, 2009 @ 1:35 pm

My support for the Democrats as a national party STOPPED today when the democratic leadership (small “d”) let the Big Banks kill the bankruptcy bill. The fact that democrats STILL CANNOT PASS REAL CHANGE (despite their numbers) is a testament to the weak party leadership; and worse, it”s a testament to the extreme power welded by the special interests in the Senate.

The American people rejected the GOP for the very corruption that just infested the run up to the Bankruptcy vote. And worse still, these banks used MY BAILOUT TAX DOLLARS to buy these democratic Senators. Where was my place at the negotiating table?

Apparently, the only “change” that has occurred is a change of dance partners by the Special Interests from GOP to democrats. I”m voting with my feet next election.

Someone please post the numbers of these corrupt politicians. The Big Banks have these rat bastards on their speed dial, so I'd like the same courtesy.

Ioan Doyle
Comment posted April 30, 2009 @ 1:43 pm

Chase bought out WAMU for 1% of its assets. That means they bought my half-million mortgage for about $5,000. I put 20% down, I have a credit score of 742. I have lost my job, and my house is now worth $280,000. Chase refuses to lower the balance owed; they will only lower the interest rate — even though they purchased it for 5 grand. It makes the most sense, at this time, for me to just walk away.

Cramdown Crammed Down Big — By Democrats | Personal Financial-About My financial story
Pingback posted April 30, 2009 @ 7:11 pm

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Susan Canna
Comment posted May 1, 2009 @ 11:42 am

I must admist I am EXTREMELY disappointed to see Senator Dorgan's name listed here after he was so SPOT ON ten years ago regarding the impending banking crisis. As for the rest of the list, well, I am just as disappointed to say I'm not at all surprised at the names that appear. Democrats are not perfect; however, I still won't EVER vote for a republican again as long as I live. I pray the party just vanishes – or maybe just gets small enough that we can drown it in the bathtub like they've longed to do to “Big Government”.

Eileen (char) Flanagan
Comment posted May 2, 2009 @ 5:52 pm

My Note to Our President today: “Dear Mr. President: I am one of your loyal supporters. But I was heartsick to hear that the Senate killed Senator Durbin's anti-foreclosure bill. It is clear that we the people bail out the banks with our tax dollars and the banks give millions of these dollars to US Senators for their vote. The Senators take the money and they play the game. The nasty game continues. This, in my opinion, is a sin. It is immoral to strip the American people of their money, their trust and their spirit . I want to call out ever senator casting a NO vote last Thursday. I will send the list to everyone I know. But most of all I would like to hear something from you Sunday or Monday. I want to see this bill come up again. Please thank Mr. Durbin for me and all of those out here that were pulling for him. Respectfully,

It doesn't pay to be progressive. Let's change that. | Non Vivant
Pingback posted May 3, 2009 @ 3:51 am

[...] their fists at the Zell Millers and Joe Liebermans of the world for years now. And there’s a great many more that could use a swift boot to the [...]

Paul Munsch
Comment posted May 5, 2009 @ 1:37 pm

Bankruptcy laws are fine the way they are. Thank God this bill is going to be defeated.

Paul Munsch
Comment posted May 5, 2009 @ 8:37 pm

Bankruptcy laws are fine the way they are. Thank God this bill is going to be defeated.

Senate to Take Another Look at Cramdown | The Lie Politic
Pingback posted July 21, 2009 @ 12:54 am

[...] three months after the Senate killed a House-passed proposal allowing homeowners to stave off foreclosure through bankruptcy, some upper-chaamber Democrats are [...]

Comment posted January 11, 2010 @ 4:33 pm

What makes anyone think slavery days will ever end? We are just workers, people. We can't own anything!

Comment posted January 11, 2010 @ 9:33 pm

What makes anyone think slavery days will ever end? We are just workers, people. We can't own anything!

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