Obama Opposes Cram-Down in Stimulus

Dumb move. With mortgages sliced and diced amongst dozens, if not hundreds, of investors, you cannot renegotiate terms in many cases, which means more defaults and foreclosures.

He's not opposed to allowing bankruptcy judges to rewrite mortgages, he just does not want it in the bailout package.

That's because he's still pursuing the asinine goal of getting 80 votes in the senate.

He won't get 80 votes for a bill that works, because Republicans cannot afford fiscal stimulus to succeed.