The longer this foreclosure crisis drags on, the clearer it is that voluntary loan modification programs are inadequate to meet the needs of millions of borrowers with homes worth less than the mortgages.
While executives are dancing with your dollars, the foreclosures they helped to bring on continue to rise. Many banks are dragging their feet, enjoying the bailout bucks but failing to spread them around.
Shouldn't we also be living in a country that can come together right now and bail out schoolchildren who, unlike Wall Street, are too small to be allowed to fail before they have been allowed to succeed?
I understand that nobody wants to be on the outside like they were during the Bush years, but the price of a few cocktail parties at the White House -- and the threat of lost donors -- is buying a lot more than it should.