Bill Daley and associates are already Plotting the course for a Second BailoutSubmitted by bobbyw24 on Fri, 01/14/2011 - 10:27
Incoming Obama chief of staff Bill Daley was formerly a board member for Third Way, a pro-Too Big To Fail think tank that exists solely to perpetuate the corporate-welfare guzzling policies that landed America in this horrible recession, so you know that the group's ideas will carry weight in the Obama White House.
What is Third Way's newest idea? "To save the banks from their own, colossal abuses of contracts that they devised, Third Way advocates Congressional intervention into well established, well functioning state law," reports Naked Capitalism.
More specifically, Third Way has argued, in the wake of a Massachusetts Supreme Judicial Court ruling, that consumers should not be allowed to challenge foreclosures. Third Way's logic is that if homeowners continue to exercise their rights, every homeowner will want to exercise his rights, which could slow down the foreclosure process and create uncertainty in the market--and hurt the banks. Third Way's solution to this "problem" is for Congress to intervene in state laws by creating a "safe harbor from paperwork-related litigation for pending foreclosures." In other words, banks can take your house for any reason they say fit, and you can't say a damn thing about it.