I just read that the cram down bill, which already passed the House of Representatives, is facing stiff opposition in the Senate from...Senate Democrats?
Senate Majority Leader Harry Reid (D-NV) has recently commented that he may have to pull the provision from the Senate banking bill, because of opposition from lender-friendly Democrats in the Senate, led by Senator Evan Bayh (D-IN). Bayh, claiming to be acting as a "centrist," is threatening to side with Republicans in opposing the Senate version of the bill, as well as the Senate Democrats' efforts to add the bill to the budget bill.
Incidentally, is it really a "centrist" position to oppose a measure that roughly two-thirds of Americans support?
Bayh's opposition is especially troublesome for his state of Indiana, which has been very hard hit by the ongoing foreclosure crisis. The cram down bill would reduce Indiana's foreclosures by at least 20%, at no cost to taxpayers.
So why would Bayh oppose a measure that could help so many of his constituents? That's easy: Bayh took in over $3 million in campaign contributions from various corporate interests - lenders, insurers, pharmaceutical companies, and their corporate law firms - between 2003 and 2008. His single biggest contributor? Goldman Sachs, at $123,750.
Ghastly.
If you live in Indiana, maybe Senator Bayh should hear what you think about his position on this important legislation. If you know people in Indiana who are struggling to keep their homes, encourage them to contact Senator Bayh. Senator Bayh can be reached online through the U.S. Senate's website, www.senate.gov.
UPDATE: In case anyone was wondering, Senator Bayh has to face voters in 2010, as he will be running for re-election. Maybe the Hoosiers out there could remind him of that...
TO THOSE IN FAVOR OF HR 1106, AND SENATE VERSION S.61 "HELPING FAMILIES SAVE THEIR HOMES"....
***** NOW IS THE TIME TO MAKE YOUR VOICE HEARD !!!! ****
*** THE BANKING INDUSTRY IS GOING ALL OUT TO ATTEMPT TO DEFEAT " HELPING FAMILIES SAVE THEIR HOMES ****
THE SENATE IS NOW IN RECESS UNTIL APRIL 20TH, 2009... WHEN THE SENATE RETURNS THIS BILL WILL BE ON THE AGENDA.
AS OF APRIL 11TH ... PROPONENTS "IN FAVOR" OF " HELPING FAMILIES SAVE THEIR HOMES IS GAINING MOMENTUM AND NUMEROUS GROUPS AND PEOPLE ARE BEGINNING TO GET TOGETHER AND "DEMANDING THE SENATE" QUIT STALLING AND GET THIS BILL PASSED.
EVEN THOUGH THE "BANKING INDUSTRY" IS SPENDING AN ENORMOUS AMOUNT OF MONEY TO ATTEMPT TO DEFEAT THE BILL... SUPPORT IS BUILDING STRONGER BY THE DAY AS IT HARD TO UNDERSTAND WHY A "BAILED OUT" BORROWING BILLIONS "BANK INDUSTRY..... COULD HANDOUT MILLIONS OF BOUNUSES TO EXECUTIVE WITH BAILOUT MONEY... AND NOW TRY TO TURN BORROWED TAX DOLLARS AGAINST THE TAX PAYERS THAT GAVE IT TO THEM... TO PROLONG THE FORECLOSURE CRISIS AND PUT MORE FAMILIES OUT TO THE STREET...
THE BANK INDUSTRY HAS CREATED IT OWN BAD UNTRUSTING NAME BY MISSHANDLING OF BORROWED TAX PAYER ..... ANY SENATOR WHO SUPPORTS THE BANK INDUSTRY AFTER RETURNING BACK FROM RECESS WILL REALIZE THAT PASSING "HELPING FAMILIES SAVE THIER HOMES" IS ESSENTIAL TO THEIR FUTURE POLITICAL CAREER.
THIS BILL IS "NOT" A "BAILOUT" AND "IS" A LIFELINE TO HARDWORKING AMERICAN FAMILIES.... MOST OF THES FAMILIES ARE HARD WORKING AMERICAN JUST TRYING TO MAKE IT AND KEEP A ROOF OVER THEIR HEADS AND SURVIVE, THEY ARE "NOT" LOOKING FOR BAILOUT MONEY..... READ THE SENATE BILL AND THE AMENDMENTS THAT HAVE TIGHTENED RESTRICTIONS AGAINST ANY ABUSE.. OR DRIVING UP INTREST RATES AS DESPARATELY STATED BY THE BANK INDUSTRY TO FALSELY SCARE THE GENERAL PUBLIC... SIMPLY ..READ THE BILL !
*********************************
THIS IS NOT A REPUBLICAN VS. DEMOCRAT ISSUE ! THIS IS A AMERICAN HELPING HELPING AMERICAN CRISIS ISSUE !
**************
ANY SENATOR AT THIS POINT: REJECTING THE BILL AND SUPPORTING "THE BANK INDUSTRY" .. COULD, WOULD AND SHOULD BE PERCEIVED AS "BOUGHT OUT" BY THE BANK LOBBY.
THE BANKING INDUSTRY BROUGHT IT ON THEMSELVES WHEN THEY MISSHANDLED AMERICAN TAXPAYER BORROWED BILLIONS... EVERY SENATOR ACTUALLY HAS AN OUT... WITH THE BANK LOBBY... EVEN AFTER RECEIVING CONTRIBUTED MONEY DUE TO THE FACT IT IS HARD TO DEFEND THE STUPIDITY FROM BANKNG EXECUTIVES TAKING MILLIONS IN EXECUTIVE BONUSES. ESPECIALLY AFTER RECEIVING BORROWED TAX PAYER MONEY TO OPENLY REWARDING THEMSELVES FOR FAILURE !
*** CONTRACT EVERY SENATOR YOU CAN AND IT IS VERY EASY...SIMPLY "GOOGLE" MY SENATORS.. IT WILL LIST ALL OF THEM AND THEIR CONTACT #'S .. EMNAIL, PHONE MESSAGE, FAX, ALSO SIGN PETITION "GOOGLE s.61 PETITION. "DEMAND THEY PUT ELSE ASIDE AND GET "HELPING FAMILIES SAVE THEIR HOMES PASSED" !
. WE NEED 60 VOTES TO GET THE BILL TO PASS,
WE NEED BOTH DEMOCRAT AND REPUBLICANS. DON'T WORRY ABOUT PARTY LINES: BOTH REPUBLICAN AND DEMOCRAT SENATOR STATES HAVE THE SAME PROBLEM WITH THIS. FORECLOSURE CRISIS.. IT WILL LOOK "REAL BAD" TO TURN ON AMERICANS IN THIS FORECLOSURE CRISIS OVER .. BIPARTISON PARTY LINES !
IT WILL ALSO LOOK "REAL BAD" IF SENATORS PRESENT THEMSELVES AS APPEARING " BOUGHT OUT".
whatever it takes.... i am one of those homeowners who is patiently waiting for this bill to pass. i hope these senators really search their hearts and pass this bill instead of letting these banks take over their conscience!
Agreed, the senators are bought out by the investors and banks if they don't pass this. I will make sure I don't re-elect anyone who does not pass this. It shows their true charactor. I am watching this bill very closely.