… is actually a pretty good idea.
From the Obsidian Wings link:
Mortgages And Bankruptcy
by hilzoy
A bankruptcy judge in the Washington Post:
“Homeowners are the only ones who cannot modify the terms of their secured debts in bankruptcy. Corporate America flocks to bankruptcy courts to do precisely this — to restructure and reamortize loans whose conditions they find onerous or can no longer meet. Airlines are still flying and auto parts makers still operating because they have used this powerful tool of the bankruptcy process.
And from later in the post:
Perhaps it once made sense to think that mortgages should not be restructured in bankruptcy. I don’t think it makes sense now. It would be great if a repeal of this provision of the bankruptcy laws were one of the bills that will be waiting for President Obama to sign when he takes office.
It’s a bonus day with two video breaks. I found a link to this over in the comments on this post at Obsidian Wings.
You can find my part one here and part three here.
Here’s some more reactions around the right and left parts of the blogosphere.
Have I missed the competition? [Charles Murray]
I read the various posts here on “The Corner,” mostly pretty ho-hum or critical about Obama’s speech. Then I figured I’d better read the text (I tried to find a video of it, but couldn’t). I’ve just finished. Has any other major American politician ever made a speech on race that comes even close to this one? As far as I’m concerned, it is just plain flat out brilliant—rhetorically, but also in capturing a lot of nuance about race in America. It is so far above the standard we’re used to from our pols…. But you know me. Starry-eyed Obama groupie.
My Two Cents and Bottom Lines [Cliff May]
Barack Obama gives a good speech — better than most of his congressional colleagues. But at this stage in his life and career, he’s not yet who he wishes to seem.
Obama’s supporters will now say: “Enough. Let’s move on.”
Hillary supporters will say: “We agree. Enough. Let’s move on.” But they will whisper: “You don’t think those evil Republicans will use this against him in the fall? He’s damaged goods.”
Independents will be split — they always are, that’s their job. But fewer will see him as they did: a different breed of politician, one who transcends race and party, an agent of beneficient and desirable “change.”
Conservatives are less likely to think an Obama presidency would be not so bad, and more likely to see McCain as the lesser evil.
So, I just watched Barack Obama’s big race speech on YouTube. I haven’t yet read or heard any reaction or analysis. So, please forgive me if I repeat what has already been said.
My first reaction? Race speeches are rarely good, and this was no exception. For all of Obama’s new talk of change, courage, politics you can believe in, I heard a whole lot of liberal boilerplate dressed up in euphemism and offering no fresh solutions.
From Little Green Footballs:
Obama Attempts Double Back Flip
Tue, Mar 18, 2008 at 9:05:24 am PST
Drudge Reporthas the transcript of Barack Obama’s speech, and it was just as weak as you thought it would be. Amazingly, Obama is sticking with the “cherry-picking” defense.
I have already condemned, in unequivocal terms, the statements of Reverend Wright that have caused such controversy. For some, nagging questions remain. Did I know him to be an occasionally fierce critic of American domestic and foreign policy? Of course. Did I ever hear him make remarks that could be considered controversial while I sat in church? Yes. Did I strongly disagree with many of his political views? Absolutely – just as I’m sure many of you have heard remarks from your pastors, priests, or rabbis with which you strongly disagreed.
That’s Why I Say Hey Man Nice Speech
by publiusFirst impression – good speech. I wasn’t entirely convinced it was a good idea to do it, but I think it will play well – and certainly better than Romney’s. What I liked about it in particular was not so much the arguments themselves (which were good), but the unwillingness to fold in the face of media pressure.To back up, I think the relentless multiple-news cycle coverage of Wright has been absurd – and rooted in old stereotypes of the black community as a hotbed of angry nationalists. My fear was that Obama, in opting to give the speech, was giving into the trumped up and bogus frenzy. While I knew this specific controversy would pass, my more general fear was that Obama the candidate and president would be pressured to twist in the Beltway winds.
Here’s a link to a slew of reviews at Daily Kos.
David Kirkpatrick 