Bailout: Why Dems Must Hold On Bankruptcy, or, Et tu, Barack?

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Friday September 26, 2008 · 8:39 AM PDT

2008/09/26 · 08:39

The question of whether to include bankruptcy shelter in the bailout package is, at its core, a question of whether struggling homeowners will get something or nothing out of the deal.

Contrary to assumptions I've seen on the front page and elsewhere, bankruptcy shelter will NOT just help those who enter bankruptcy - it is a fundamental game-changer that will spur hundreds of thousands of mortgage modifications even for families on the brink that stay out of bankruptcy.

And, as such, it is the simplest, sanest, and cheapest way to stanch the foreclosure crisis which is the underlying reason for the credit crunch and larger financial crisis. Stop the foreclosures, stabilize home prices, and then mortgage-backed securities are no longer impossible to value and illiquid. Crisis averted - but only if the Dem leadership bucks its penchant for capitulation and its Presidential nominee to get it done.

awkward007

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Wednesday September 10, 2008 · 4:16 PM PDT

2008/09/10 · 16:16

Oh, the gall. The gall! This has me so outraged that I'm writing my first diary after four years lurking here.

Republicans create the biggest housing mess in decades, but of course manage to find a way to profit it from it electorally: Voter suppression! Recent news reports indicate that they plan on challenging the voting rights of foreclosure victims in at least Ohio and Michigan. There are a number of other high-foreclosure swing states where this ugly trick may pop up: Nevada, the nation's foreclosure capital, Colorado, Florida, Georgia, Virginia, and Arizona are all in the top ten for foreclosure rates.

From Michigan:

"We will have a list of foreclosed homes and will make sure people aren’t voting from those addresses," [Macomb GOP] party chairman James Carabelli told Michigan Messenger in a telephone interview earlier this week.

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Bailout: Why Dems Must Hold On Bankruptcy, or, Et tu, Barack?

GOP planning voter suppression of foreclosure victims!!