Pelosi warned that bankrupt homeowners wouldn't get help in new bill....Kucinich verifies it today.

madfloridian

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Fri Oct-03-08 02:07 PM
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Pelosi warned that bankrupt homeowners wouldn't get help in new bill....Kucinich verifies it today.

That is what Nancy Pelosi told fellow Democrats in a private meeting in September.

Pelosi told fellow Democrats during a closed-door meeting that the idea of letting judges rewrite mortgages to help bankrupt homeowners avoid foreclosure won't be a part of the emergency legislation. That provision, pushed by several Democrats, would be a deal-breaker for Republicans whose votes are needed to pass the measure, she said, according to lawmakers at the meeting.

So apparently they knew it when they voted for it today.

They also knew how bad the Bankruptcy bill of 2005 was when they voted for it. They knew it took away needed exemptions for the elderly, ill, and for caregivers.

It does not exempt debtors whose financial problems were caused by serious medical problems from means testing. It does not provide protection for medical debt homeowners. Homes and cars could be lost under this new plan if you have medical problems.

It does not preserve existing bankruptcy protections for
individuals experiencing economic distress as caregivers to ill or disabled family members.

There is no provision to insure elderly people in financial trouble who seek bankruptcy could keep their homes. Republicans voted down a provision for it, and 3 Democrats from states with big credit card industries joined them.

Good for Dennis Kucinich for verifying that and for calling attention to the great tragedy.

From helderheid's post today:

Woman, 90, shoots self inside foreclosed home

CNN) -- A 90-year-old Akron, Ohio, woman who shot herself as sheriff's deputies tried to evict her from her foreclosed home became a symbol of the nation's home mortgage crisis Friday.

U.S. Rep. Dennis Kucinich, D-Ohio, mentioned Polk on the House floor Friday during debate over the latest economic rescue proposal.

"This bill does nothing for the Addie Polks of the world," Kucinich said after telling her story. "This bill fails to address the fact that millions of homeowners are facing foreclosure, are facing the loss of their home. This bill will take care of Wall Street, and the market may go up for a few days, but democracy is going downhill."

Good for him for speaking out.

It is almost like they have been planning that a crisis like this would happen, and all the pesky details are already out of the way about the homeowners who might stand in the way of all the Wall Street power.

But, they will fix it all later. Famous words heard often these last 8 years. :shrug:

In the post I made earlier about what Pelosi said...I was told that first we had to get the Republicans on board. Then the profits from Wall Street would help the rest of us. The old trickle down theory. Hasn't that worked well. :sarcasm:

I don't have to understand economics to feel intense anger over a 90 year old woman who shot herself rather than lose her home. I don't have to understand anything else except that our country has failed its citizens.

Sick inside.