Obama Says Bailout Bill Should Not Include Bankruptcy Reform – HuffPo (9/26/08):

The progressive wing of the House Democratic caucus reacted angrily Thursday evening to the news that Barack Obama opposes attempts to add bankruptcy reform to the Wall Street bailout bill.

A large block of Democrats is seeking to add a provision to the $700 billion measure that would empower bankruptcy judges to help homeowners avoid foreclosure. The bankruptcy proposal and a separate effort to place caps on executive pay in firms that benefit from new government subsidies are two key, but controversial, provisions that Democrats have pressed for in recent days. They legislators have two aims: a) to help voters who are taking a beating in the current economic downturn; and b) to address public anger over what many of their constituents see as the transfer of taxpayer dollars to mismanaged companies.

Most congressional Democrats learned of Obama’s opposition to the addition of the bankruptcy provisions at a closed meeting Thursday evening, after the White House meeting attended by House and Senate leaders of both parties, President Bush, and Obama and John McCain.

How is it that Democrats can blow both the policy and the politics so consistently? How is it that Obama can?