Bipartisan Majority Defies Bush Over Mortgage Crisis

News & Politics

While Republican House leaders wring their hands and rend their clothes fretting over why voters are massively rejecting their candidates and worrying that the GOP minority could easily lose another 2 or 3 dozen House members in November, all they need to do is look in the mirror to figure it out. And blaming hapless schnooks like Vito, Vitter or Larry Craig isn't going to do the trick. They are the party of obstructionism and the party that is standing in the way of progress, preventing an end to the occupation of Iraq, preventing universal health care, preventing sound environmental and energy policies, preventing, in fact, everything that the American people want!

Yesterday their despised leader, George Bush, threatened to veto a foreclosure bill that would attempt to help families and neighborhoods that have been victimized by predatory lenders who have been enabled by out-of-control Republican deregulation mania. Today the House passed the first of two of the bills Bush was railing against, Maxine Waters' Neighborhood Stabilization Act of 2008. Only one Blue Dog, Kirsten Gillibrand (NY) voted with the Republicans. Eleven Republicans-- all of whom are either retiring or in grave danger of losing their re-election bids in November-- abandoned their party's reactionary leadership and voted with the Democrats (even including such inveterate rubber stamps as the Diaz-Balart brothers in Florida and Steven LaTourette of Ohio).

While Bush was eager to shovel hundreds of billions of dollars towards the predatory lenders to shore up their businesses and even to provide irresponsible and possible criminal executive with multimillion dollar bonuses for causing the collapse of the real estate market, he dug in his heels on Water's attempt to "make federal money available in loans and grants for the rehabilitation and eventual sale or rental of blighted properties."

And just moments ago, the House also passed the companion bill, Barney Franks' American Housing Rescue & Foreclosure Prevention Act, a responsible and comprehensive response to the nightmare of the Bush Economic Miracle. It seeks to assist families facing foreclosure keep their homes, help other families avoid foreclosures in the future, and, with Maxine Waters' bill, help the recovery of communities harmed by empty homes caught in the foreclosure process. The bill, which Bush swears he will veto and McConnell vows to obstruct in the Senate, provide mortgage refinancing assistance, which will help keep families from losing their homes and protect neighboring home values. Barney's bill was voted on in 3 parts and dozens of Republicans were too frightened of the constituents to oppose the bill. On Roll Call 302, in fact, 95 Republicans gave Bush and their extremist leaders the finger and joined all the Democrats to pass it overwhelmingly and with a veto-proof majority. In fact only 94 Republicans voted with Bush. It passed 322-94, one of Bush's biggest defeats since he stole the presidency in 2000. Only the most insane kooks and loons-- The Dana Rohrabachers, John Shadeggs, Michael McCauls, Mean Jean Schmidts, and Scott Garretts hung in there with Boehner, Blunt, Cole and Howdy Doody.

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