Barack Obama Credit Card Legislation
Why did Pres. Obama’s mortgage bill die in the senate?
WASHINGTON — President Barack Obama lost his first big legislative fight Thursday when the Senate failed to pass a measure that would allow bankruptcy-court judges to reduce the value of some mortgages.
The defeat of the bill, which was a central part of Mr. Obama’s plan to help homeowners, came as the House voted 357-70 in favor of a measure that would cap the fees credit-card companies can charge. The credit-card measure now goes to the Senate, where it is likely to pass.
The vote in the senate was 45-51, so clearly at least 5 or 6 democrats did not support this legislation.
Read the rest of the story at:
http://online.wsj.com/article/SB124112073490174169.html
I think hard working people are SICK AND TIRED of bailing out the idiots who (by their own free will) took on more than they could afford.
President Obama Signs Kids Tobacco Legislation