June 11, 2009
-- by Dave Johnson
Common Cause released a study of the recent vote on the legislation to allow bankruptcy judges to change the terms of mortgages (known as :cram-down") so people don't have to lose their houses. As you already guessed the Democrats who kept this from passing received money - a lot of money, an average of $58,894 in the 2008 election cycle - from the banking and finance special interests, while the rest of the Democrats did not. This vote was a strictly pay-for-play bribe and we need to do something about Democrats who take money from big corporations and then vote against the public interest. (All the Republicans voted with the big corporations, by the way.)
An article about the study t r u t h o u t | Study Follows the Money on Cram-Down Vote names the names:
[the] 39 Republicans needed Democratic help to kill the bill. And they got it.If you live in a state with one of these Senators, call their office and let them know how you feel about them taking money to vote for big corporate interests. This money-taking is nothing less than bribery, corruption and is an affront to democracy.
The 12 Democratic senators who crossed the aisle to vote with Republicans were Max Baucus (Montana), Michael Bennet (Colorado), Robert Byrd (West Virginia), Thomas Carper (Delaware), Byron Dorgan (North Dakota), Tim Johnson (South Dakota), Mary Landrieu (Louisiana), Blanche Lincoln (Arkansas), Ben Nelson (Nebraska), Mark Pryor (Arkansas), Arlen Specter (Pennsylvania) and Jon Tester (Montana).
Also, more votes backing financial industry rip-offfs of the public:
Many of the Democrats who sided with the financial industry in the "cram-down" vote were instrumental in blocking a proposed 15 percent cap on interest rates that credit card companies can charge. Senators Baucus, Byrd, Carper, Johnson, Landrieu, Lincoln, Ben Nelson, Specter and Tester joined with Senators Daniel Akaka (D-Hawaii), Evan Bayh (D- Indiana), Jeff Bingaman (D-New Mexico), Maria Cantwell (D-Washington), Kay Hagan (D-North Carolina), Ted Kaufman (D-Delaware), Patty Murray (D-Washington), Bill Nelson (D-Florida), Mark Pryor (D-Arkansas), Jeanne Shaheen (D-New Hampshire), Debbie Stabenow (D-Michigan) and Mark Warner (D-Virginia), in opposition to the anti-usury bill sponsored by Vermont's Independent Sen. Bernie Sanders.
Posted by Dave Johnson at June 11, 2009 6:42 PM
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