THE MOST ACCURATE VIEW...:

Left vs. W.H. over mortgage deal (Edward-Isaac Dovere, September 24, 2011, Politico)

President Barack Obama's liberal base says he's on the verge of selling out to the banks again.

This time, the problem is a subprime mortgage settlement that his administration is pressuring state attorneys general to sign off on -- a deal that could stop many state investigations and prosecutions about mortgage lending practices.

That settlement, a collaboration between the Justice Department and the 50 state attorneys general much like the one that produced the landmark 1998 agreement with tobacco companies, would mean a lump-sum payment from the banks in exchange for a release from liability. But with negotiators in Washington this week trying to finalize a deal, it's become the latest flashpoint of left-wing disenchantment with Obama.

"The least charitable view ties it directly to campaign donations," said Adam Green, co-founder of the Progressive Change Campaign Committee, which this week began mobilizing its 700,000 supporters against the broader deal. "The most charitable view, it's a bunch of Wall Street hacks in the position of economic advisers who truly believe that giving billions to banks will trickle down to the middle class. The most charitable view is that they're just wrong."

...is that this is how a Republican president should be expected to act.

Posted by oj at September 25, 2011 5:58 AM
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