Thursday, April 30, 2009

Destined to Fail

The Senate is currently debating the Durbin amendment which would provide some opportunity for bankruptcy judges to modify existing loan terms. I'm not even sure why the banking industry is opposed to it. But it's really the only reasonably fair way to help homeowners in trouble. In the name of moderation it will probably fail. At least liberal bloggers will have a new shit list of Democratic senators. I'm guessing the senator from Indiana will be on it.