A bill was passed in the house that would allow bankruptcy judges to void contracts by changing the principal on a loan. It is called cramdown. Haven’t heard or read much about this Obama brainstorm? That’s probably because the bill was defeated yesterday in the Senate by a vote of 51 to 45. I guess the dinosaur media don’t want Americans to hear anything that might put Obama in a bad light. You can’t find the story on the CNN website. ABC news acts like they never heard of it. And if you never want to hear any truth about Obama these are the people to go to. ABC did have a big story titled, ‘OMG You Can FaceBook the White House?’ since the White House PR department now delegates some of their duties to ABC News. Our MSM are Pravda all over again.
Some senators are already starting to worry about reelection. They don’t seem to want their names associated with a piece of legislation that will cause further havoc in the credit market. A big question is why would the president want to kick the credit situation and the economy in the teeth when he already tells everyone that they are down for a mandatory eight count. Once again I have to wonder to who or what he feels loyal. I already knew that ABC and CNN love to kick the USA in the teeth