From the NYTimes Editorial Page:
As Foreclosures Surge ...
Published: May 3, 2009
The Obama administration sat by last week as 12 Senate Democrats joined 39 Senate Republicans to block a vote on an amendment that would have allowed bankruptcy judges to modify troubled mortgages.
Senator Obama campaigned on the provision. And President Obama made its passage part of his antiforeclosure plan. It would have been a very useful prod to get lenders to rework bad loans rather than leaving the modification to a judge.
But when the time came to stand up to the banking lobbies and cajole yes votes from reluctant senators — the White House didn’t. When the measure failed, there wasn’t even a statement of regret.
Not even a statement of regret.
YOU COULD HAVE placed this in the reconciliation Bill.
You chose to stiff those in most need, Mr. President. Just like you're trying to stiff those Black Farmers -don't think that has gone away from our consciousness - your BETRAYAL of them.
Mr. President, you allowed those thieves -Geitner and Summers- to swindle the average American Taxpayer into bailing out folks that won't even admit that it's their fault and their mismanagement that got THE WORLD into this financial crisis.
The Average American isn't a simpleton. They understand the interconnectedness of the financial situations. All they have asked for is that, as you look out for Wall Street, you all look out for Main Street.
You are FAILING IN LOOKING OUT FOR MAIN STREET.
And Main Street's patience will only last for so long, before they return the FU.
I'll say it again: Fredo and Summers aren't serving you. They serve Wall Street, and you better wake up to that point before it's too late.