Tuesday, March 08, 2005

Bad Democrats:

The Left Coaster clues us in on a TNR column by Noam Scheiber that reprints a press release from the New Democrat Coalition (NDC). From the press release: (excerpts, emp add)
With consumer debt reaching record highs of more than $2 trillion, members of the New Democrat Coalition (NDC) sent a letter today to Speaker Dennis Hastert, urging him to schedule House action on the bankruptcy reform legislation as soon as the Senate completes its consideration of the bill. The letter, signed by twenty NDC members, including the four NDC leaders, reiterates New Democrats' long-standing support for common-sense bankruptcy legislation and states an intention to work across the aisle to pass bankruptcy reform into law.

"Bankruptcy is an option that ruins credit and homeownership opportunities for too many Americans," said Rep. Artur Davis. "This legislation will deter bankruptcies that are unnecessary and ill considered, while still permitting a fair second chance for low-to-moderate income consumers who face financial hardship.
"Bankruptcy is an option that ruins credit" ?!?!

From the letter to Hastert: (excerpts, emp add)
Dear Mr. Speaker:

We write to encourage you to bring bankruptcy reform legislation to the House floor as soon as the Senate completes its consideration of the bill. The New Democrat Coalition has backed common sense bankruptcy reform in the past and helped in passing the bankruptcy reform bill by overwhelming margins in the House of Representatives during the 108th Congress.

We believe that responsible bankruptcy reform embodies the New Democrat principle of personal responsibility, while at the same time adding important new consumer protections such as requiring enhanced credit card disclosure information and encouraging participation in consumer credit counseling.

It is our hope that the House of Representatives will consider this important piece of legislation in an expedited manner.
Scheiber concludes:
... support for the bill by Democratic moderates betrays a striking obliviousness to the most important debate underway within the Democratic Party. Moderate Democrats have been under assault from grassroots liberals lately for selling out Democratic values in their rush to appease conservative interests. I normally think this criticism is highly misplaced, and that moderates have exactly the right instincts when it comes to social issues and foreign policy, even most economic issues. But in this case the moderates proved the liberals' point for them, which could set back the cause of moderates within the party for months, if not years. It really is a colossal, inexcusable mistake.
Who signed the letter to Hastert?   These folks:
Rep. Ellen O. Tauscher
Rep. Adam Smith
Rep. Ron Kind
Rep. Artur Davis
Rep. Carolyn McCarthy
Rep. John Larson
Rep. Stephanie Herseth
Rep. Dennis Moore
Rep. Mike McIntyre
Rep. Joe Crowley
Rep. Jay Israel
Rep. David Wu
Rep. Diane Hooley
Rep. Melissa Bean
Rep. Jim Davis
Rep. Harold E. Ford, Jr.
Rep. Ed Case
Rep. Jay Inslee
Rep. Shelley Berkeley
Rep. Gregory W. Meeks


“Enhanced credit card disclosure requirements”? WTF?

The Senate defeated a Democratic amendment that would have required credit agreements to prominently warn that paying the minimum balance every month actually increases your debt in the long term. Who the hell are these people kidding?

And to think we celebrated the election of Herseth and Bean last year ...

By Blogger Sully, at 3/09/2005 7:47 AM  

Just a query, Rep Diane Hooley? What district does she represent? There's a Darlene Hooley from the 5th district in Oregon. I'm pretty perturbed that she and David Wu would sign such a letter

By Anonymous Anonymous, at 3/09/2005 11:39 AM  

Debt Consolidation
Debt Consolidation can help you reduce your interest burden by charging an interest rate lower than the rate on your existing loans. Debt consolidation loan can also allow you to make small monthly payments by extending the loan period

By Anonymous Anonymous, at 7/12/2006 8:02 PM  

Post a Comment