by Damozel | Despite the support of Obama and one bank (Citigroup), the Senate voted 45-51 against the bill that would have let bankruptcy judges rewrite -- "cram down" in the vernacular -- mortgage payments for homeowners. (abc news; think progress)
This bill was part and parcel of "a central element" in the Dems' plan to stabilize the economy. (Wash. Independent) Tragically, "[s]everal Democrats, including the newest Democrat, Sen. Arlen Specter of PA, opposed [the bill]."(abc news) "Nays included all Republicans and Baucus, Bennet, Byrd, Carper, Dorgan
(?), Johnson, Landrieu, Lincoln, Nelson (NE), Pryor, Specter
(awesome!), Tester," dday says. Ryan Grimm at HuffPost discusses the millions in contributions raked in to their campaign coffers by some of those Dems.
And -- wow -- Sen. Dick Durbin is seriously annoyed. Siding with those who don't have "paid lobbyists" and against bankers who "own the place," he slammed the argument being mounted by the banks: