So Some Dem Senators Who Voted Against The Bankruptcy Bill Don't Like The Breaking Of Contracts

[Me.]

http://www.huffingtonpost.com/2009/05/01/in-their-own-words-why-d

So then, are they against the credit companies changing the rules in the middle of the game, essentially breaking a contract/agreement? Then there are those like Landrieu who just come out and say her local bankers didn't like the bankruptcy bill, so I guess she doesn't mind their usury practices either.

[truebrit71]

1. Landrieu is an embarassment to the Democratic party...

...

[AndyA]

2. That's putting it nicely.

Honestly, I really can't think of anything she's done that stands out as being good for the people. I suppose there's something, but her continued support of right wing policies decimates any good she's ever done.

[DJ13]

3. Then I think those Dems should change the BK law regarding

second (vacation) homes and investment properties of the wealthy, as judges have long been able to cram down mortgages in those instances.

Fair is fair.

If the average person cant get relief in court, neither should the wealthy.

[sixmile]

4. Contracts are changed every day, everywhere

They don't like having to pull on the leashes of their campaign contributors and future employers.
But the little guy? Fuck them.

[depakid]

5. How much home equity could hve been preserved?

The opponents of the bill all say that industry influence is not the reason they'll vote against the measure. Rather, they claim genuine policy disagreements: concerns it could raise interest rates or increase defaults, for instance.

But Durbin's amendment is very narrowly tailored and would only allow mortgages signed before Jan. 1 to be modified -- meaning that interest rates on future loans should be unaffected.

We'll be watching the roll call and will post the rest of the no votes along with their take from the financial industry.

Durbin's office has also calculated, relying on data from the Center for Responsible Lending and Moody's, how many homes his bill would save and how much home equity it would preserve by preventing foreclosures, which damage entire neighborhoods.

Landrieu's Louisiana could see 12,651 homes and $500 million of equity preserved. Tester's Montana: 2,815 and $40 million. Nelson's Nebraska: 3,763 and $140 million. Bayh's Indiana: 27,960 homes and $590 million.

Across the United States, the measure is estimated to prevent 1.69 million foreclosures and preserve $300 billion in home equity.

http://www.huffingtonpost.com/2009/04/30/cramdown-vote-banks-bough_n_193674.html

[dembotoz]

6. i guess labor contracts are somehow not the same