Jane Hamsher of FireDogLake appeared on the Rachel Maddow show last night to discuss a new phenomenon in the Senate: the "conservadem".
Specifically, Jane questioned the actions of Evan Bayh, Democrat from Indiana, who waited quietly for eight years through George Bush's reign before forming a group of conservative Democrats in the Senate to oppose the new president's economic agenda.
One such example of this is Bayh's opposition to a proposal to give bankruptcy judges more leeway to reduce the value of mortgages in foreclosure proceedings, which would allow at least 20% more homeowners to remain in their homes, at zero cost to the taxpayers. This spreads the burden to those very banks that gave out the risky and over-valued loans in the first place, and who deserves at least part of the responsibility.
Guess which Senator from Indiana receives enormous contributions from the mortgage lobbyists? Need I say more?
I'll let Jane do the talking below.
UPDATE: Jane has more to say about Bayh today.