Sen. Dick Durbin (D-Ill.) introduced legislation in the Senate Thursday which would allow homeowners in bankruptcy to renegotiate -- or cramdown -- mortgages with banks. His corresponding amendment to the House-passed bankruptcy reform bill is scheduled to be voted on at 2:30. (Read the whole thing.)
[UPDATE: It fell 15 votes short of the 60 needed to end a filibuster. Here are the 'no' votes and the amount of money they've taken from the financial industry.]
The measure is widely...
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