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Why did Pres. Obama's mortgage bill die in the Senate?

WASHINGTON – President Barack Obama has lost his first legal battle big Thursday when the Senate failed to adopt a measure allowing judges to the Bankruptcy Court to reduce the value of certain loans mortgage. The defeat of the bill, which was a central element of Obama's plan to help homeowners, comes as the Assembly voted 357-70 in favor of a measure that would cap the fees credit card companies can charge. The credit card will measure Now to the Senate, where he is likely to pass. The Senate vote was 45-51, so clearly at least 5 or 6 Democrats did not support this bill. read Following the story at: http://online.wsj.com/article/SB124112073490174169.html

I think the hard working people are sick and tired of bailing out idiots who (by their own will) was more than they could afford.

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