"Cram Down" Dies by Our Leader's Cowardly Hands
Here, let me piss off some fans of our Leader. From the now Kristol-free Grey Lady:
The bankruptcy solution would not cost taxpayers money, as would mortgage modification programs that could become part of the government's huge economic bailout package. But it certainly would harm the bottom line for lenders and investors holding mortgages.
Ya got that, chicklets? A no-cost solution that could help keep millions in their homes instead of tossing them on the streets. Sounds great, it even has support, and people willing to attach it to the stimulus bill. But...wait for it...guess who's too chickenshit to let such a win-win provision get added?
Sen. Dick Durbin, D-Ill., the chief Senate sponsor of the bill, said Obama persuaded him in a White House meeting Friday to remove the bankruptcy proposal from an economic recovery package -- to ensure it doesn't jeopardize the stimulus bill. But Obama pledged his support for the bankruptcy solution, Durbin said.
Obama said he would work with Durbin to attach the proposal to other ''must pass'' legislation -- with the hope that supporters of the overall bill would not vote against it because of the bankruptcy provisions.



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