MoveOn Targets Specter And Other Dems For Siding With Banks (VIDEO)
A series of new web ads by MoveOn.org targets Senate Democrats for stripping a provision from recently-passed bankruptcy reform legislation that would have allowed judges in certain circumstances to change the terms of a mortgage.
The biggest target among those Dems: Arlen Specter, the Pennsylvania turncoat. MoveOn says a new poll finds 85 percent of its Pennsylvania membership aren't charmed by Specter's party switch and might favor a primary challenger.
Six other Democrats are targeted in videos for their opposition to the provision, known as cramdown, which would have offered relief to certain homeowners in bankruptcy and in default on their mortgage. The measure failed after lobbying by the financial industry so intense that Sen. Dick Durbin (D-Ill.) said of the upper chamber that banks "frankly own the place."
"Last week Senator Specter had a choice," says the ad targeting Specter. "Wall Street was trying to kill the president's proposal to help families facing foreclosure. Senator Specter could side with the banks or with Pennsylvania families..."
Each ad points out how much money the targeted Dem received from the financial industry.