Monday, August 20, 2007

Mayor Buying Votes

  • Speaking about the increasing number of home foreclosures in Chicago and in the nation, Mayor Richard Daley said Saturday that the city hopes to compile a list of people who lost their homes to foreclosures, in an effort to try to help them.

    "We have to take a list of all of them, get all the mortgage companies and have to try to build their lives," the mayor said at a news conference announcing a new principal at Harper High School in West Englewood. He did not specify what the city would do with the list.

    The mayor said the increase in foreclosures is a national problem and faulted the federal government for not regulating the issue.

    "Where was the federal government on this?" he said. "They completely failed."
The federal government is to blame? Then why aren't we seeing waves of indictments against these subprime mortgage lenders? Probably because the lenders followed the rules in place. The lenders took risks and so did the borrowers. It didn't pan out and the lenders seem to have over extended themselves a bit. How is that our problem? How is that the City's problem?

This reminds us of the Rosemont casino license debacle - certain politically connected investors had a "can't miss" opportunity and when it all went south, they expect the taxpayers of Illinois to bail them out. Doesn't the mayor have a $218 million hole in his budget? Shouldn't he be taking care of that instead of trying to pick up votes from people who can't manage their finances properly?

And speaking of subprime lenders, we read this over at Captain's Quarters:
  • As a presidential candidate, Democrat John Edwards has regularly attacked subprime lenders, particularly those that have filed foreclosure suits against victims of Hurricane Katrina. But as an investor, Mr. Edwards has ties to lenders foreclosing on Katrina victims. The Wall Street Journal has identified 34 New Orleans homes whose owners have faced foreclosure suits from subprime-lending units of Fortress Investment Group LLC. Mr. Edwards has about $16 million invested in Fortress funds, according to a campaign aide who confirmed a more general Federal Election Commission report.
After preaching about "two Americas" for the past few years, seems Edwards contributes to those "two Americas" in words AND deeds. Maybe he and the mayor could get together and work out a few of these loans.

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23 Comments:

Anonymous Anonymous said...

My taxes are going up, I pay $150 for a friggin city sticker, I get no police service on the west end of 008 (due to lack of manpower), I'm working with-out a contract, my gas & electric keep going up and this crooked s.o.b. wants to help pay these non tax paying savages mortgages? Unreal!! They can't pay a mortgage, but they sure can (and do) buy the most expensive cell phones, expensive rims, new Nike shoes, X-Box / PS2, and all the other wants (not needs) in life. This shit would not happen in Texas or Arizona or any other red state. Illinois, mainly Cook County / Chicago is out of control. How has the federal government not taken over yet? The corruption is so obvious. I hate this city.

8/20/2007 02:38:00 AM  
Anonymous Anonymous said...

The Federal Government forced these leanding institutions to make loans in certain zip codes that they considered under served. These people were never qualified for a mortgage in the first place. Why would anyone be surprised when they defaulted...

8/20/2007 05:31:00 AM  
Anonymous Anonymous said...

what about all the second and third home that coppers and firemen bought to flp that has since flopped? Do they get a bail out when they give up on thier over priced dreams??

8/20/2007 07:17:00 AM  
Anonymous Anonymous said...

True! again daley has his head up his ass! how many donated to his campaign and "private back pocket fund?", The casino that was all his boys degnan,joyce and daleys whole "criminal family secrets crew", and we will bail them out with daley as the captain of this sinking ship were are fucked!

8/20/2007 07:32:00 AM  
Anonymous Anonymous said...

once again the savers and the responsible ones get the shaft.

8/20/2007 08:00:00 AM  
Anonymous Anonymous said...

KEEP VOTING FOR THE WHITE MAN YOU FOOLS!

8/20/2007 09:08:00 AM  
Anonymous Anonymous said...

TRANSLATION: A group of people were given mortgages, even though they had no credit history>

Instead of working to pay off their mortgages they bought new cars, bling, coke, rims, 52 inch TVs, and Mach 10s, Now thew mortgages defaulted.

Guess what? They still vote democRAT.

Therefore, little dick daley, the head of the chicago daley crime family, has decreed that the working people will have to pay off the mortgages of the non working people.

8/20/2007 10:48:00 AM  
Anonymous Anonymous said...

The Federal Government forced these leanding institutions to make loans in certain zip codes that they considered under served. These people were never qualified for a mortgage in the first place. Why would anyone be surprised when they defaulted...


Not true I work in real estate. The sub prime made these loans to make money and for 10 years it was working, then the prices of a home got out of hand. In some areas of the country a home was purchased for 120 thousand four years later the same home sold for 220, the value was not actual. Period. Would you stay in a home that you bought 220a and is worth 150 yet you owe 230, I think not these people are walking away. The lenders are at fault. However when they take the lost your stocks will also take a hit. along with the economy. good luck people

8/20/2007 11:34:00 AM  
Anonymous Anonymous said...

This just in...in an attempt to save money on insurance, the City is no longer approving colonoscapies... According to mayor Daley, "I've had my head up my ass for basikey two decades....looked around, everything is just fine, no pallaps, so you know, so how about a land based casino at miggs".... Illinois state democratic senators are sending instructions on how to insert your head up your ass in lieu of a colonoscapy. They are the recognized experts in the field.

8/20/2007 11:46:00 AM  
Anonymous Anonymous said...

Remember, keep voting democRAT!

8/20/2007 12:18:00 PM  
Anonymous Anonymous said...

I thought the Shity budget was $-200 Million! They can't afford to pay us anymore. Where will they find the $$$$$$$$$$$ to cover bad loans??

8/20/2007 12:50:00 PM  
Anonymous Anonymous said...

I AGREE I VISIT ARIZONA ALLOT AND THE MUTTS DO NOT GET JACK, LEAVE IT TO THE DUMBOCRATAS, FRED THOMPSON I AM VOTING FOR YOU. AND SEISER FOR CIA DIRECTOR.

8/20/2007 02:12:00 PM  
Anonymous Anonymous said...

Why would anyone be surprised when they defaulted...

8/20/2007 05:31:00 AM

-----------

If Daley can front a huge bail out program that the G could never dream up, then why would ANY ONE pay their mortgage after tomorrow??!!??!!

8/20/2007 02:29:00 PM  
Anonymous Anonymous said...

how about the free gas for the last few years from peoples energy
broken windows no storm windows
thermostat set on 80 but they wont shut off the gas what a joke

8/20/2007 03:35:00 PM  
Anonymous Anonymous said...

This is not all the sub-prime lenders fault. Let me preface this by saying i'm not a big lover of attorneys, but, they have a time and place. If your that stupid and cheap that you can't afford $200-$300 to have an attorney advise you during the closing of your house and explain to you what exactly you are signing and what your payments, taxes, etc...will be, your an idiot and deserve everything you get.

8/20/2007 05:39:00 PM  
Anonymous Anonymous said...

Interesting. As any police officer can tell you, going to these homes proves a complete lack of financial understanding: There is an Xbox 360 AND/OR a PlayStation 3, a 42" ( or larger ) flat screen, surround sound, 100+ DVD's, 500 CD's, a new Chrysler 300 out front, and stacks of warnings from unpaid, water, electric, gas, etc....


This entitlement shit makes me sick. I hate this City and wish I would have move my family earlier and go a real job instead of this babysitter/sued for a "mean" look BULLSHIT!

My favorite was seeing all the satellite dishes OUTSIDE THE WINDOWS OF PROJECTS! I'm paying for their rent, they're paying $150/MONTH for an HD package. UN-FUCKING-BELIEVEABLE!

Boy were my parents suckers, thinking instilling VALUES and a WORK ETHIC in their children would pay off....

8/20/2007 09:49:00 PM  
Anonymous Anonymous said...

You do not need to be a citizen or even have applied for citizenship to be a Chicago Police Officer. Only in America.


I'm confused as far as I know in the last 35 years I have purchased 9 different properties Res. and income, Yet if I did not put 20% down I had to pay PMI private mortgage Insurance to cover any lose for the lenders? Hello I think someone is telling some lies. Also if you look at the numbers the forclosers are only one half of one percent. Another way to divert us from thinking about Iraq .

8/21/2007 12:27:00 AM  
Anonymous Anonymous said...

Anonymous said...
This just in...in an attempt to save money on insurance, the City is no longer approving colonoscapies... According to mayor Daley, "I've had my head up my ass for basikey two decades....looked around, everything is just fine, no pallaps, so you know, so how about a land based casino at miggs".... Illinois state democratic senators are sending instructions on how to insert your head up your ass in lieu of a colonoscapy. They are the recognized experts in the field.

8/20/2007 11:46:00 AM

lol

8/21/2007 03:33:00 AM  
Anonymous Anonymous said...

"My favorite was seeing all the satellite dishes OUTSIDE THE WINDOWS OF PROJECTS! I'm paying for their rent, they're paying $150/MONTH for an HD package. UN-FUCKING-BELIEVEABLE!"

Projects? Really,Hey Serpico how many projects are left two?
Focus on how you're really getting screwed ie pitiful raises, skyrocketing medical,
then how you perceive you're being screwed,
Like a babbling goof,blah,blah democrats ah ah dems lazy asses,ah,ah....

Focus Screwball Focus!!

8/21/2007 10:53:00 AM  
Anonymous Anonymous said...

Daley has NO right to use taxpayers dollars to bail out anyone out of a forclosure, or anything else. He is just buying votes by trying to do so. This is illegal and the Feds should be on this right now. This Daley is out of his mind and needs to be removed from office for mental incompetency. And what about that haircut of his, he looks loonier every time he's on the tube.What a pea-brain.

8/21/2007 02:20:00 PM  
Anonymous Anonymous said...

DemocRATS need to be watched every second of the day by the Feds, [and probably are]. They are such out of control Socialists for sale that they would sell our City and our Country down the tubes for the almighty vote & dollar. A bunch of Commies is all they are.

8/21/2007 02:24:00 PM  
Anonymous Anonymous said...

I have a great idea for the firearms qualification. Instead of paper targets, have Daley Sharpton, Jackson, Pfleger and all the alderman stand down range. Everybody would score 100 percent and problems solved !!!!!!!!!

8/22/2007 08:36:00 PM  
Anonymous Anonymous said...

I love the fact that wall street can inflate house prices 200% in 5 years with bogus bond schemes and everybody here thinks it's the fault of blacks in the ghetto.

SCC, you've got a high class of commenter.

8/23/2007 12:35:00 AM  

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