May 8, 2009
In a recent radio address on Radio Chicagoland Senator Richard (Dick) Durbin remarked on power the financial services industry still wields at a time when that industry is theoretically under great scrutiny: "The banks — hard to believe in a time when we're facing a banking crisis that many of the banks created — are still the most powerful lobby on Capitol Hill.And they frankly own the place."
The banking lobby won a significant victory in Congress on May 1, 2009 when 12 Democrats joined a united Republican Caucus to vote down an amendment to President Obama's housing bill. At issue was a measure that would have allowed bankruptcy judges to modify mortgages to help homeowners avoid foreclosure.
Woo hoo!!! I know where my butt is going to be parked at 8pm PST.
Update 8:34 PM 5/8/2009 click on title link, it's well worth watching.
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