October 5, 2008
Open Question: Why did Dems in the bailout bill prevent aid to family foreclosures but supported 150B for the rich's tax cuts?
Open Question: Why did Dems in the bailout bill prevent aid to family foreclosures but supported 150B for the rich's tax cuts?
The attitude of the Democratic leaders to the broad and deep-felt popular opposition to the bailout was one of utter indifference. Many spoke of their repudiation of the will of the American people as a hallmark of true leadership. Attempts by Democratic opponents of the original measure to attach provisions to the bill providing aid to families facing foreclosure on their homes were rejected by the Democratic leadership as impermissible. The events of the past week have provided the clearest confirmation that the Democratic Party is completely subservient to big business and the financial oligarchy. This was underscored by the role of the party’s presidential nominee, Senator Barack Obama, who returned to Washington on Wednesday to cast his own ballot in favor of the bailout and lobbied to shift the votes of a number of House Democrats.
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Open Question: how can i catch up on my mortgage fast?
I fell behind on my mortgage and now face foreclosure, how can I catch up fast?
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Open Question: Does Obama changing 32 Dems votes for the bailout reflect an austere legislation as President?
The events of the past week have provided the clearest confirmation that the Democratic Party is completely subservient to big business and the financial oligarchy. This was underscored by Senator Barack Obama, who returned to Washington on Wednesday to cast his own ballot in favor of the bailout and lobbied to shift the votes of a number of House Democrats. On Thursday, Obama held a conference call with a group of freshmen Democratic House members to press them to support the bill. He reportedly made a strong pitch to members of the Congressional Black Caucus—which accounted for a dozen of the changed votes. On Friday, a number of the 32 Democratic representatives who switched their votes to support the legislation cited Obama’s appeal in explaining their decision. The legislation gives US Treasury Secretary Henry Paulson virtually unrestricted powers to use at least $700 billion to buy up largely worthless paper assets from Wall Street using taxpayers’ money. Earlier, White House spokesman Tony Fratto, a former official in the US Treasury Department, all but acknowledged that the measure is not aimed at ameliorating the increasingly dire conditions facing millions of American working people confronted with the loss of jobs and foreclosures on their homes. Responding to a question as to whether the bailout would affect rising unemployment—reflected in jobless figures released Friday showing another 159,000 jobs destroyed—Fratto responded: “No one should be over-promising what this bill will do. It’s not been sold as giving a boost to the economy—it’s to avoid a crisis
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