Arianna On "Countdown," Discusses How Dem Senators Screwed Homeowners

Arianna appeared on "Countdown with Keith Olbermann" Friday night to talk about why a number of Senate Democrats voted against legislation aimed at stemming foreclosures Thursday. Arianna read a list of the names of the Democratic Senators who voted against the bill and called on President Obama and Harry Reid to take a firmer stand against the influence of the banks who opposed the legislation.

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Comments

[textynn]

They own the place but we paid the bill. How's that even reasonable?

[Jan Davenport]

Once again those " two fine Senators" from Arkansas sold out.

[Jan Davenport]

Once again our two Senators from Arkansas have shown that they are bought and paid for by big business. The have absolutely no regard for the voters that put them in office only those that line their campaign chest. How disgustiing....makes me ashamed that they call themselves Democrats.

[gratonite]

Sadly, as long as they yell, "abortion!" or "gay!" when election time comes around, they have nothing to fear.

[ResistanceisFutile]

I guess the only thing that will stop the flow of money from the banking industry to the congress is if there are no banks and/or are no bankers.

We could choke the banking industry, by not repaying whatever loans we have. Unless of course Congress and Obama give the banks money to survive on and to lobby Congress with. Of course that would never happen because it would not be in the best interests of the American Public.

Then again we could just resort to plain old choking.

[Artemis34]

We may need to nationalize the banks to stop their wrong-doing and undermining the government.

[Lorianne]

Yeah that'll work ... cause politicians are so much more honest.

[Diana]

Actually, I think the only thing that will stop this transfer of wealth--as well as all sorts of other attacks on democracy and the people--is campaign finance reform.

Only when all (legitimate) candidates can play on an equal playing field, will Congress truly represent the people. No more buying elections, no more 'wins' going to the highest bidder (see, 'lobbyist').

If we don't change the campaign finance laws, we can kiss democracy--already on its deathbed--goodbye

[Kiku]

Ariana,

I would love to see some deeper investigative journalism on this.

Buffet is supporting the Dem action with the government, but he's also bankrolling the Senators who are working against Obama's agenda.

He's saying one thing and doing another.

Can you get an article out on this? Can you help us look a little deeper? I suspect the Republicans are distracting us with tea parties, battles with Limbaugh, etc, all the while working behind the scenes where it really matters, in Congress.

Can we get more information on what is happening on that front?

Thanks,
kiku

[Marie62866]

I don't trust Buffett or the bankers!

[Rick101]

Here's a great Bill Moyers piece on this issue. It's about some folks in Boston who organized against foreclosure. Brand new and well worth your time.

http://www.pbs.org/moyers/journal/05012009/watch2.html

Spread it around.

[stargazer13]

I say prosecute them all

[Artemis34]

Love the "white collar crime scene" tape around the foreclosed house! Too true!

[nanooknw]

At last Countrywide has stopped calling me. They were so obnoxious insisting that I refinance my home loan that we told them never to call us again.. and they still called.
They would not talk about a fixed rate. They were always giving my mortgage file to another person to call me and see if they could break me down.

[CaptainVideo]

If you own 6 homes and an expensive yacht and go into bankruptcy, the bankruptcy court can reduce the principal on your 2nd, 3rd, 4th, 5th, and 6th home and on your yacht, but not on your first home, your domicile. So if you own 6 homes and your domicile is foreclosed on you can still live in one of the other homes or the yacht, but if you own only one home and it is foreclosed on, you are out on the street.

If there was ever any doubt that our laws are rigged to favor the haves and have mores, and against ordinary working people, there is the smoking gun.

[Lorianne]

So why haven't the Dems been busy working on chaning that law?

[sammy cole]

I dont like the idea of judges having authority to cram down ANY loan ....I dont care what it is. Since when did it become a CIVIL RIGHT to OWN a HOUSE? Anyone can buy a house if they CHOOSE to SAVE their money for a good downpayment first. That's what I did to buy my first house on a MINIMUM wage job. The problem is ...somewhere along the way ....Americans have forgotten what exactly the American DREAM really is. I think it's about having the RIGHT to do ANYTHING .....and one of the Rights is to NOT squander, prioritize and buy anything you want. I think cramming down mortgages or any loans pretty much makes CONTRACTS worthless...which I dont support.

[stargazer13]

the American people are being robbed again taking it in the shorts

it is too painful I can not watch any more ! it must be stopped the TORTURE of it all is unbearable

[wantthetruth]

Interesting how there is only 191 comments on this story about current issues yet there are 2000 about old Bush news.

[CaptainVideo]

That is because

"the evil that men do lives after them"

[stargazer13]

Well put

[wantthetruth]

Isn't the whole point of this article ev.ill con-gressmen"?

[hidenout]

Look Huffers, some of you make intelligent posts that make me reconsider a lot of my beliefs, and I sure as heck don't come here to defend Bush, but while you whine about the past, and don't seem to have the mental capacity to consider that one man could not create all this havoc, that there are over 1000 elected officials in DC, 1000's more lobbyists. That's the real problem. Yeah, let's try to come up a way out of some of these messes, but for the love of pete, move on. Just a little bit?

[openhand]

1. The banks caused this crisis by predator lending and passing on the loans.
2. The value of this stock is now worth half.
3. So why shouldn't what we owe the banks be worth half? Otherwise they pay no penalty for seting up this crisis.

Why sell the house off at a cheaper price rather than allow the present owner to pay off at that new amount?

[sammy cole]

The banks borrowed the money to loan to the borrower....so if the borrower doesn't repay it ...the bank has to cover the loss as best they can...a good plan right now is for banks to CRAM down interest rate and/or extend the length of the loan....there are many ways to try to help homeowner's avoid foreclosure.....but a lot has to do with if a borrower can or will repay the loan even with a modified contract. I think for those who bought houses with no downpayment, never saved a cent to buy it in the first place.....are LUCKY. They can walk away completely unscarred whereas for those who DID save to buy and bought at the top of the bubble do have a STAKE in their devalued home....but the good news is for everyone....it's a HOME....if you pay for it .....over time....you'll OWN IT free and clear someday .....but oh ...I forgot...HOUSES turned into ATM MACHINES.....TV's CARS and VACATIONS are more important than HOME OWNERSHIP. the DREAM always has been to OWN A HOME....it's never been to find a sucker, such as a bank to give you a key ....for sure ..I wouldn't loan money to ANYONE who didn't have a REAL BIG STAKE in repaying it.....such as ....a DOWNPAYMENT.

[sokolof]

What I don't understand is under the Clinton lots of deregulation happened not even under Reagan! Today it is the clintons and clintons' people who are controlling the administration. How come they are not being questioned. They are the ones who created this and they are back now in the government. So let us be careful when we say democrats are more moderate than republicans. I am independent but lean more towards the democrat however, the danger for America lies towards democrats because they are indecisive, swayed easily, almost likely to vote with republicans when issues such as economy, corporations, money is involved. I believe there are only very few democrats in the congress and senate that stand for the right and with the public. The rest are wolf in sheep's clothing like the Clinton's. This is dangerous. At least we know where Republicans stand and they don't care and they stand what they believe in.

[stargazer13]

can,t swallow that last line

[Artemis34]

And the conservatives and Republicans "believe in" whatever they need to "believe in" at the moment to bring them money and power.

They believe in "States Rights" until they control the Federal Gov't and / or the states do something "crazy" like support gay rights, the right to die, medicinal marijuana, etc. Then they are opposed to "States Rights."

So, it is always political expediency with them.

And I would say they are Calvinist too. They are blessed so they can do no wrong, and we are depraved and deserve everything that goes wrong.

[Spesabsquemetu]

The people are not stupid.
They know under whose watch the Glass-Steagall act was incinerated.
Maybe that's one of the reasons why Sec. Clinton lost.
Everytime she aligned herself with her husbands past, and while he did do some good, there is no doubt in the minds of those suffering across America with the loss of their homes - that it was under Clinton that the Glass- Steagall act was removed from the protections it had provided to the American people.

I would love to know how our elected officials were investing when they were removing that act from OUR PROTECTIONS.

[Liberal2]

Yes, people are stupid, espeically conservatives...you're proof of the point.

Clinton had a veto-proof Congress. After the 1994 election it didn't matter whether he signed a bill or vetoed it. Try to grasp reality. Even during 193-94 the one vital bill he signed into law was the budget bill that raised taxes slightly...as I recall, it passed by only one vote. And democrats lost the Congress thereafter.

What, you think all Americans are stupid conservatives????

[Artemis34]

I think there is a difference between deregulation and Bush's disregulation.

Under Bush, if people were doing their jobs and regulating, in the DOJ, IRS, EPA, they were more likely to be fired, to have their work product "revised," etc.

If you are firing people who bring just cases in DOJ and firing the people in the IRS that work on high income audits and revising the work product of scientist in the EPA, everyone in government gets the message:

"You better not be regulating / governing or you are out!" This is the Bush disregulation that spread through all of government.

[Lorianne]

The Clinton Bubble
http://www.thenation.com/doc/20090511/scheer

Clinton, Quigley, and the New World Order
http://www.theendrun.com/2009/clinton-quigley-and-the-new-world-order/

[Artemis34]

And Clinton was responsible for the savings & loan crisis that was precipitated by banking deregulation? Pretty good trick going back in time!

[Rick101]

For those who like to get fact about lobbying and origins of campagn contributions I strongly recommend:

www.opensecrets.org

Find out how your congressmen and senators get their money.

[stargazer13]

they should receive no money out side of tax payer money

plain and simple bribery in my opinion !!!

[Rick101]

Sorry about the reference; didn't know the comment system would try to make it a live link. Okay, I'll roll with it....... here it is..............

http://www.opensecrets.org

If your really want to get involved in how our elections are financed just get involved. There are lots of sites focused on the issue. Here's a good start:

http://change-congress.org/

[stargazer13]

thanks i will check it out

[CaptainVideo]

It is important that no one contribute any money to the Democratic Senatorial Campaign Committee because part of that money will go to the corporate Democrats who voted against the homeowners. One should instead give the contributions directly to the campaigns of those Senators who voted with the homeowner. This is easy to do using Act Blue.

[sokolof]

There should be some kind of policy that should be made where no president, congress or senate should use money for their political position. They should be elected out of the public's money so that there won't be special interest and corruption. American people should clean out all tainted congress, Senate, the administration and if Obama doesn't get his act straight even him. I have a feeling there is strong power on the government and that is tyranny and oligarchy