I am so tired of this:
But everything old is perpetually new again for Obama supporters, so when David Axelrod went out to argue against a national foreclosure moratorium in light of what may be the largest fraud ever perpetrated on a court, tens of thousands of counts of fraud lined up in a row, we get the usual suspects like John Cole arguing that it’s just common sense to side with the banksters:
That isn’t taking the side of the banksters, that is taking the side of common sense. What possible use could there be for a nationwide halt to foreclosures?
I can understand selective moratoriums where states deem it necessary, but wouldn’t a nationwide moratorium on foreclosures be disastrous? Is there any precedent for this? Do they even have the authority to wave a pen and halt all foreclosures? Or is this where the magical bully pulpit comes in again?
What possible use could there be? How about preserving the very concept of property rights in the face of fraud on a scale literally unseen, prior to this, in all of human history?
I’m not siding with the banksters, I just don’t understand what good would come from a national moratorium. Forty state AG’s are on the ball, what exactly could a national moratorium do? The idea is to stop the bad foreclosures, not grind every single transaction in this sector to a damned halt.
You aren’t hurting the banksters when you do something like that. You’re hurting every single buyer and seller in the market. It would be catastrophic. On top of that, under what legal authority does the White House declare a moratorium on a specific type of business transaction? How would that happen? Who would be in charge of it? Geithner? Warren? Under what legislative or Constitutional authority?
And finally, I’ve spent pretty much every single day bashing the banksters. The idea that I’m now just siding with them to either show blind devotion to Obama or any other reason is just insane. This was one of the first blogs to really pitch a fit about the Notary bill last week. I’ve said it before, I’ll say it again- I say and do enough stupid shit that you don’t need to make things up about me. And there really is a fringe of the American left that has almost the same DNA as the teahadist right. “Just do it! You’re President! Make it happen!”