Wed
Nov 7 2007
07:06 pm
By: WhitesCreek

The oppressive changes to bankruptcy law turned out to really hurt middle class Americans who got caught up in the current subprime mortgage morass.

A lot of Legislators are working to help allow the bankruptcy courts to negotiate mortgages so that people have a chance to climb out of a hole and hold on to the house they live in at the same time.

But wait! There's more! Guess who opposes this and is advancing the Bush Administration agenda?

Lincoln Davis

Come on, Lincoln...How about being a Democrat every once in awhile?

No surprise

It was well-known long before now, and long before the 2005 bankruptcy bill, that subprime lending could lead to many people becoming overwhelmed. For examples from 2004, see the New York Times, the Federal Reserve, and Mortgage Daily: (link...), (link...), (link...), (link...)

And it was well-known what could happen when the bankruptcy bill was passed in 2005 after massive lobbying from the banking, credit, retail, and financing industries. Here are more examples, this time from 2005: (link...), (link...)

Lincoln Davis was not alone in supporting the 2005 bankruptcy bill despite full knowledge of what was at stake (assuming he kept up with the news): (link...)

I am not sure why folks are surprised when Democratic legislators vote for oppressive bills. For a long time, all of the very worst, most oppressive bills have been heavily supported in both the House and the Senate by both parties, often nearly unanimously: the 1994 Crime Bill, the Digital Telephony Act, the Digital Millennium Copyright Act, and the Patriot Act(s) come to mind.

I like Lincoln Davis, but wish he would vote more often on the side of the people and the Constitution. I think his heart is in the right place though. :)

Under our current campaign financing system all politicians, even the good-hearted ones, must raise money to be elected and again to remain in office. If, as it so often appears, well-heeled lobbyists can seem to buy votes, then the question arises: where is the well-heeled lobbyist for the people?

Moveon.org, a grass-roots group not aligned with any political party, tackles the issues voted in by its huge base. The group tries, and had had some successes. However, despite having a few wealthy supporters and many more like the rest of us, they (we?) are still hampered by lack of funds. Moveon.org has many "members" or "volunteers," but relatively few give money.

Often it seems that Moveon's appeals to membership for funding are only answered (if my arithmetic estimates based on reported results are correct) by some tens of thousands of supporters.

Moveon.org is having a major fund drive right now and through the 2008 elections. Perhaps if more of us sent them a donation right now, and also monthly donations, however small, the "people's lobby" could easily outspend the rest. :) Last I looked, they raised $800,000 in this last appeal, but need $200,000 more right away.

-- OneTahiti

1-T

I contribute regularly to Move-On.org...I think that makes me a communist according to Karl Rove. ;)

not Communist, just nice :)

Whitescreek,

Way to go! I wish a lot more of us would do the same.

And according to politicalcompass.org, I suspect many of us are way too far from the Authoritarian side of the political spectrum to qualify as Communists. :) Some quotes from the same web site:

quote from politicalcompass.org showing 2-dimensional political spectrum

 

quote from politicalcompass.org showing US 2007 presidential race

-- OneTahiti

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