The relief package for homeowners died another death by Republican filibuster in the Senate yesterday. Almost all legislation this session has gone there to die due to this maneuver. Republicans, if you recall, are the ones who condemned the filibuster when we tried using it against their extreme Supreme Court appointments. "Give us an up or down vote," they cried. These same folks used the tactic to kill 73 bills last year and numerous others in 2008. It will cost them several more Senate seats this year because voters are fed up.
While blocking relief for homeowners the fed continues giving huge aid to banks and the financial sector. Ben Bernanke indicated they will lower the federal discount rate again next week. Banks stopped lowering their loan rates so they can cash in on the margins. This has become a bailout.