Saturday, September 27, 2008

Bailing out regular folks not in Obama's plans

From "Mortgage help for bankrupt homeowners dropped"
By JULIE HIRSCHFELD DAVIS and DAVID ESPO, Associated Press Writers

"WASHINGTON - House Democrats say the idea of letting judges rewrite mortgages to help bankrupt homeowners avoid foreclosure won't be a part of the $700 billion financial industry bailout.

Speaker Nancy Pelosi, D-Calif., told Democrats at a closed-door meeting Friday evening the provision would be a deal-breaker for Republicans who she has said must deliver substantial votes for the rescue plan. That's according to several lawmakers who attended the session.

Democratic presidential nominee Barack Obama had said earlier that the measure didn't belong in the bailout."


Obama says the measure doesn't belong. Regular folks don't merit a bailout. The plutocracy gets in trouble because regulations controlling their actions were lifted so the "free market" can do its "magic," and the plutocrats act heedless of the consequences, making obscene amounts of money, and when the joy ride is about to crash and burn the government comes to their rescue.

This is what an Obama presidency will look like!

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