Wednesday, August 29, 2007

Daily Kos: Obama's radical proposals on mortgages

Daily Kos: Obama's radical proposals on mortgages: "The intro pulls no punches, and is very heartening to me - not because it's good news that a 'devastating' financial crisis is likely, but because it is, as far as I can tell, the first acknowledgement by a senior politician anywhere of the gravity of what's unfolding. If you read my diaries, you may have noted that I personally think that the financial crisis will be massive, and I also note how important it is that Democrats put the blame properly where it belongs, i.e. in the feudalistic, class warfare economic policies of the right, which use massive debt (borne by the poor) to hide the capture of an increasingly large share of the economic pie by the ultra rich. The first step is to not deny the economic realities, and to speak up against that wall of debt, and it is good to see Obama making that step clearly."

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