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Isle housing bottom seen - Business

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Guru

Los Angeles, CA

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#46379
May 15, 2012
 

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lol...troll alert!

You guys crack me up! But he is right. "Lesbo's and Jose Maria"....lol!!

hahaha...keep it coming trolls.

:)))))
Jose Maria Gonzalez

Honolulu, HI

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#46380
May 15, 2012
 

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Guru wrote:
<quoted text>
FK U 2 Maria! We are going in action as of now.
You have been informed.
¿Por qué usted discrimina contra mí, Senor Guru?¿Es porque yo quieren alcanzar hacia fuera para tener alguien responder a mis comentarios en español? Está esto no un foro público.¿Usted tiene derechas propietarias a este foro?
Gringo

Honolulu, HI

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#46381
May 15, 2012
 
Guru wrote:
<quoted text>
FK U 2 Maria! We are going in action as of now.
You have been informed.
With American Hispanic out numbering whites in LA this Guru hombre is looking for a visit by a mask man to even out his disrespect toward Marias free speech rights. You are on their shyt list you loco Guru. Senor you have been informed.
Guru

Los Angeles, CA

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#46382
May 15, 2012
 

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Gringo wrote:
<quoted text>With American Hispanic out numbering whites in LA this Guru hombre is looking for a visit by a mask man to even out his disrespect toward Marias free speech rights. You are on their shyt list you loco Guru. Senor you have been informed.
Bring it. We are ready and waiting. The call went out. It go time.
The Next Big Thing

Waianae, HI

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#46383
May 15, 2012
 

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Guru wrote:
<quoted text>
reported
You must be doing something right Jose. No Worries! It's just an LA Faker Flopping, again.
Taco Bell

Honolulu, HI

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#46384
May 16, 2012
 
Guru wrote:
<quoted text>
Bring it. We are ready and waiting. The call went out. It go time.
Senor Guru who did this call go out to? Your Mama? If there is one person that Hispanics are afraid of is some Gringos mama.
Guru

Los Angeles, CA

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#46385
May 16, 2012
 

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"POLL: NORTH CAROLINA: ROMNEY 51%, OBAMA 43%"

obama and his obot's are over.
David Letterman

Los Angeles, CA

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#46386
May 16, 2012
 
...even I can't stop laughing at your do-nothing obama...
http://www.breitbart.com/Breitbart-TV/2012/05...

lol....who votes for this creep anymore?

I prefer white meat.
David Letterman

Los Angeles, CA

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#46387
May 16, 2012
 
by the way....

"BOEHNER DEMANDS SPENDING CUTS
OBAMA OFFERS HOAGIES"...

hmmmmmm....
GURU

Los Angeles, CA

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#46388
May 16, 2012
 
you won't believe this one...

Needy States Use Housing Aid Cash to Plug Budgets
By SHAILA DEWAN
Published: May 15, 2012 58 Comments

Hundreds of millions of dollars meant to provide a little relief to the nation’s struggling homeowners is being diverted to plug state budget gaps.
Enlarge This Image
Max Whittaker for The New York Times

Protesters staged a rally against home foreclosures in California on Tuesday outside the State Capitol in Sacramento.

Document: The Mortgage Settlement and the States

Readers’ Comments

Read All Comments (58)»

In a budget proposed this week, California joined more than a dozen states that want to help close gaping shortfalls using money paid by the nation’s biggest banks and earmarked for foreclosure prevention, investigations of financial fraud and blunting the ill effects of the housing crisis. California was awarded more than $400 million from the banks, and Gov. Jerry Brown has proposed using the bulk of that sum to pay the state’s debts.

The money was part of a national settlement valued at $25 billion and negotiated with five big banks over abuses in their mortgage and foreclosure processes.

The settlement, reached in February after a year of talks and intervention by the Obama administration, was the second-largest in history involving the states, trailing the tobacco industry settlement, and represented the first large-scale commitment by banks to provide direct aid to borrowers.

As part of the settlement, the banks agreed to pay the states $2.5 billion, money intended to help homeowners and mitigate the effects of the foreclosure surge. But critics complained that this was the only cash the banks were required to pay — the rest comes in the form of “credits” for reducing mortgage debt and other activities. Even that relatively small amount has proved too great a temptation for lawmakers.

Only 27 states have devoted all their funds from the banks to housing programs, according to a report by Enterprise Community Partners, a national affordable housing group. So far about 15 states have said they will use all or most of the money for other purposes.

In Texas,$125 million went straight to the general fund. Missouri will use its $40 million to soften cuts to higher education. Indiana is spending more than half its allotment to pay energy bills for low-income families, while Virginia will use most of its $67 million to help revenue-starved local governments.

Like California, some other states with outsize problems from the housing bust are spending the money for something other than homeowner relief. Georgia, where home prices are still falling, will use its $99 million to lure companies to the state.

“The governor has decided to use the discretionary money for economic development,” said a spokesman for Nathan Deal, Georgia’s governor, a Republican.“He believes that the best way to prevent foreclosures amongst honest homeowners who have experienced hard times is to create jobs here in our state.”

Andy Schneggenburger, the executive director of the Atlanta Housing Association of Neighborhood-Based Developers, said the decision showed “a real lack of comprehension of the depths of the foreclosure problem.”

The $2.5 billion was intended to be under the control of the state attorneys general,...

continued...
GURU

Los Angeles, CA

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#46389
May 16, 2012
 
part 2-

"...Needy States Use Housing Aid Cash to Plug Budgets
Published: May 15, 2012 58 Comments

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(Page 2 of 2)

In California, Attorney General Kamala D. Harris had played hardball in the settlement negotiations, holding out until the very end for a deal guaranteeing that a large share of the benefits would go to California, and then trumpeting her success in a news conference and a flurry of interviews with national news outlets. So Mr. Brown’s revised budget put her in an awkward position.

Document: The Mortgage Settlement and the States

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“While the state is undeniably facing a difficult budget gap,” she said in a statement,“these funds should be used to help Californians stay in their homes.” Both officials are Democrats.

When asked if Mr. Brown could legally appropriate the money, which is supposed to be held in a special fund “for the benefit of California homeowners affected by the mortgage/foreclosure crisis,” a spokesman for Ms. Harris declined to comment.

Just last week, Ms. Harris announced plans to give about half the money to groups that provide housing counseling and legal assistance to homeowners — groups whose budgets have shrunk while demand for their services grows. The other half would be used primarily for investigation of mortgage-related crime.

States using some or all of their money for housing have designated it for a wide variety of programs, like a small fund for low-interest loans to build housing in low-income neighborhoods, in Virginia, and Ohio’s sweeping plan to demolish abandoned property.

In New York, Attorney General Eric T. Schneiderman stepped in with $15 million in settlement money for housing counseling and legal assistance when state support ran out last month, and plans to spend the bulk of its $130 million on similar programs. North Dakota will use its tiny allotment,$1.9 million, to provide housing to police officers and emergency responders in its booming oil-field counties, where shelter is scarce.

Using the money for other purposes is shortsighted, housing advocates warn.“If you leave homeowners hanging out there to dry, then in the short term maybe you help to meet the budget gap this year,” said Maeve Elise Brown, the executive director of Housing and Economic Rights Advocates, based in Oakland.“But in the long term the more people we have going through foreclosure, the worse it’s going to be for our economy as a whole.”

In some states, redirecting the money could have a racially discriminatory effect, said Alan Jenkins, the executive director of the Opportunity Agenda, which supports homeownership, because in some cities black homeowners disproportionately lost their homes, Mr. Jenkins said.

“If you dump all of these funds into the general coffers, the African-American homeowners are not going to benefit in any real way because they represent such a small percentage of the larger state,” Mr. Jenkins said.

Since: May 11

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#46390
May 16, 2012
 

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David Letterman wrote:
...even I can't stop laughing at your do-nothing obama...
http://www.breitbart.com/Breitbart-TV/2012/05...
lol....who votes for this creep anymore?
I prefer white meat.
I couldn't watch the video, but the comments were hysterical. "Obama's boy toys" What a HOOT!
Guru

Los Angeles, CA

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#46392
May 16, 2012
 

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comments:

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Dan
Concord, Ca

To stop this the Federal Government should tell them they are going to stop their highway funding if they do this. It would stop it very quickly......
May 16, 2012 at 11:44 a.m.
emma
Georgia

This is nothing less than theft by the states that participate in diverting this money to cover their ineptness. Stealing from the disadvantaged and poor again is egregious! This is nothing less than theft and the states leaders that decide to divert this money away from the folk to which it was intended, should be prosecuted. There are no "loopholes" than can justify this criminal behavior.
May 16, 2012 at 11:43 a.m.
Jerrie DeRose
Hutchinson, KS

One reason not send block grants to states for child care, programs for the elderly, nursing home care, etc. since states always find ways to take monies earmarked for one thing and spend it on something else.
May 16, 2012 at 11:43 a.m.
tt
Chicago, IL

Truly amazing where people stand. Swindled by the banks and then stand by helplessly as trillions in tax payer dollars bail them out. Swindled by the federal government when they ease back to a slap on the wrist settlement of $2.5 billion meanwhile and everlasting immunity. Swindled by the state government as they then take that paltry settlement away from the very people they say they're fighting for. We really are hopelessly broken.
May 16, 2012 at 11:43 a.m.
Recommended1
bert jones
wallingford VT

This is not just a problem for the "struggling homeowners". Prosperous and secure middle class people who work and are able to pay their mortgages are the real "Job Creators". The longer foreclosures and turmoil in housing lasts, the longer this recession and uncertainty in the housing market will continue.
May 16, 2012 at 11:43 a.m.
Eddie's
Queens, NY

and that's the way it is, go tell it on the mountain, keep it up ,
some offer the tale as evidence that government can't work,
May 16, 2012 at 11:42 a.m.
Black Eagle
USA

"Needy" states? Just what does that mean?
...
Guru

Los Angeles, CA

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#46393
May 16, 2012
 

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* Needing fat salaries and pensions for public employees, teachers and others who are superior beings lording over the peons (you), who must pay.
* Needing lots of cash to lubricate the entry of illegal aliens, and to to finance their welfare benefits and free medical, so they become a constant large voting block for the Democrat Party.
* Needing lots of cash for the huge bureaucracies designed to make your life more hellish on an everyday level, and to drive small businesses out of the state.

They will cut services and finger-wag under your nose, blaming you for not paying enough tax, and do all they can to preserve every bit of fat and waste in Big Government, even as they drag their 300 pound fat whale carcasses around in state paid limosines, and never, ever cut anything to make for a smaller and more economical government. Look at what's happening to Scott Walker in Wisconsin, for daring to do just that. These are Big Government socialists, wearing fancy suits and gold rings on every finger. They feel entitled to your money, and your opinions mean nothing to them.

But hey, you guys voted them in! I live in a small budget state with no sales tax, and where raising of property taxes is limited by voter-approved propositions. Don't like the conditions? Organize and raise hell. Or, move. New housing is available nearly everywhere at bargain prices.
May 16, 2012 at 11:42 a.m.
Recommended2
A.C.
San Juan PR
NYT Pick

Is this socialism? Money that should go to the victims of the mortgage debacle is now going for "common good"? The money should go to those that were wronged by the banks! But no, it's going to we're ever there is a politically convenient "common good" objective for the governor and his or her legislature. You can call it what ever you want, it's still stealing from those most affected. That money should go to lowering balances on those who are underwater in their mortgage loans, and those who lost their jobs and homes because of the recession caused by those crooks on the western world stock exchanges. I would think that stabilizing the housing market is the most rapid way of getting the economy back on track for it will reduce economic uncertainty and boost consumer confidence. The budget shortfalls can be cured by rescinding the tax cuts on the wealthiest citizens that were put in place between 2000 and 2008.
May 16, 2012 at 11:41 a.m.
Recommended1
Shaw N. Gynan
Bellingham, Washington

... I went right to the map and was proud to see that the State of Washington devoted all of its money from the settlement to helping with the real estate crisis.
May 16, 2012 at 11:40 a.m.
Mike Brooks
Eugene, Oregon
NYT Pick

Oh, those states and public workers, always looking out for the poor an downtrodden, aren't they? In the aftermath of the tobacco settlements, where public employees got bloated pay raises, and nothing was done to help smokers, the Wall Street bailouts, 3,500 new spy agencies tasked with "domestic spying", the White House enemies list, the con gams played with Greece that took down it's economy, looted it's healthcare, retirement and other reserves (NOT excess spending, it was the victim of fraud, crimes!) how is it that anyone remaining believes in government?
May 16, 2012 at 11:40 a.m.
Recommended1
RDH
Madison Al

Did anyone really believe the administration's shake down of the banks was for the people and not the government?
Guru

Los Angeles, CA

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#46394
May 16, 2012
 

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May 16, 2012 at 11:40 a.m.
Recommended1
Stephanie Palmer
Warminster, PA

It sounds to me that the individuals who would have been able to take advantage of the state payment most likely have a basis for a lawsuit. I would suggest they take advantage of it.
May 16, 2012 at 11:39 a.m.
Recommended1
tyb stuck in cali
los angeles, CA

In CA, way too many people were approved for mortgages who never should have ever been considered,ie; minimum wages, using 3 or 4 peoples income,etc. Add the criminally overpriced CA real estate market, where houses in areas with 2 or 3 gangs are almost $1million , and you have a receipe for disaster. CA 's housing market should NOT be propped up any further;prices should be allowed to find that actual value,even if everyone is under water. Real Estate brokers, appraisers, and the banks should be criminally prosecuted, and new laws written to prevent people who have no income from being allowed to overpay for houses. So yes, use the $$ for CA's other needs:too many of these people who never should have been allowed to buy will benefit in other areas...
May 16, 2012 at 11:39 a.m.
Recommended1
tim mcclatchy
usa

bout time some of the commentators sounded intelligent on this site
Stop voting for Democrats and old lifetime republicans
May 16, 2012 at 11:39 a.m.
HL Mencken
New York

Big surprise!

“The governor has decided to use the discretionary money for economic development,” said a spokesman for Nathan Deal, Georgia’s governor, a Republican.“He believes that the best way to prevent foreclosures amongst honest homeowners who have experienced hard times is to create jobs here in our state.”

Hmmmmmmmmm.... "Honest" homeowners as opposed to what? Politicians looking to pad their pockets with a new source of revenue?
May 16, 2012 at 10:59 a.m.
Recommended5
Blackstone
Minneapolis

These moves by the states really do show that the "settlement" was really just a shakedown of the banks and not motivated by any real desire to address foreclosures or helping homeowners in distress.
May 16, 2012 at 9:40 a.m.
Recommended10
Timeout77
boca raton, florida

Had 'helping' the distressed homeowners really been the goal, the Banks would have simply set up a Trust Fund to be accessed by application from homeowners. Like the BP Settlement Fund for the Gulf of Mexico property owners.

Giving the money to government was designed solely to get immunity from further legal process - i.e., fraud ...

Government is simply not responsive to its bosses .... the people!
May 16, 2012 at 11:38 a.m.
Thomas Boyle
NYC

The fault here lies with the Obama administration for allowing this type of wiggle room. Are we supposed to believe that no one saw this coming?

Life long Dem,
May 16, 2012 at 11:39 a.m.
Recommended1
Mike
Carmel, CA
Guru

Los Angeles, CA

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#46395
May 16, 2012
 

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No one can put this state called Humpty back together again until we rid ourselves for the one party system that the Dems have so carefully crafted. As a life long resident, I am seriously thinking of moving to spend what years I have left someplace else. Governor Moonbeam and his cabal in the legislature are destroying us.
May 16, 2012 at 9:39 a.m.
Recommended2
Bob Wood
Arkansas, USA

Let's quickly remind ourselves who created the failed policies that caused the financial crisis in the first place -- Republicans who insisted that the market and banks would act responsibly, not be greedy and not require regulations that had been in place since the last Depression.

We have an election this year between a man who inherited the mess they created and has been thwarted at every turn by that party, and a man who, defying logic, would return to those same unsuccessful policies.
May 16, 2012 at 9:38 a.m.
Recommended11
John Harnes
Whiting, NJ

So the states are stealing money awarded by the courts to help effected homeowners. What is not is this story is the fact that states are just putting off cuts for a year. Next year this money will not be available. So they are using it as a road bump to avoid cutting bloated budgets. And the homeowners? Well, I'm sure each of these states would like to increase taxes on them as well.
May 16, 2012 at 9:37 a.m.
Recommended1
Why is that
US

No news here. Why not save the article writing for when our corrupt govt actually spends money according to its original purpose? There would be fewer news stories.
May 16, 2012 at 9:29 a.m.
Recommended3
jack olver
pacific grove, ca

Missouri, Texas and Indiana are Republican states, California is Democratic. It doesn't make sense to make this a party issue. Citizens in all states want the services provided by government but they don't want to pay for them. The old adage about wanting to have a cake and eat it too applies.

Americans have decided they want civilization but don't want to foot the bill. I expect we'll let things degrade until things get catastrophic before deciding to pay for what we want.
May 16, 2012 at 9:27 a.m.
Recommended13
mark of the wild west
usa

The Democrats and the Republicans now just are members of the same crime family and this is the great crisis in our nation...
May 16, 2012 at 9:26 a.m.
Recommended6
CitiKitty
New York, NY

Your article attests to the fact that the government functions for the benefit of those who staff it.

You note that “only 27 states have devoted all their funds from banks to housing programs ...” and that “ about 15 states have said they will use all or most of the money for other purposes.”

You go on to note that these government officials in California, Arizona and other states purport that, in their higher wisdom, they will put it to (more self-serving) er ..., better use.

The government functions for the benefit of those who staff it. Get used to it.

P.S.: Thank you for introducing the cynically felicitous phrase:“repurpose the money”.
May 16, 2012 at 9:25 a.m.
Recommended1
Mark Shyres
Laguna Beach, CA

If a state diverts money for housing relief diverts the funds instead for prisons then perhaps those state governors and congressmen should be housed there? Well, many eventually are eventually.
May 16, 2012 at 9:24 a.m.
Recommended2
Millie Bea
Washington, DC

If the Repuiblicans really want to reduce the Federgovernment- they should start with the abject inadequacies of state governance.
May 16, 2012 at 9:24 a.m.
Recommended1

Read More Comments

PURE THEFT!!!
PEOPLE ARE GETTING PISSSSSSSED OFFFF! AND THEY SHOULD BE!
Guru

Los Angeles, CA

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#46396
May 16, 2012
 

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" tt
Chicago, IL

Truly amazing where people stand. Swindled by the banks and then stand by helplessly as trillions in tax payer dollars bail them out. Swindled by the federal government when they ease back to a slap on the wrist settlement of $2.5 billion meanwhile and everlasting immunity. Swindled by the state government as they then take that paltry settlement away from the very people they say they're fighting for. We really are hopelessly broken.

May 16, 2012 at 11:43 a.m.
Recommended1"

CLASSIC!...and predicted by this Guru way back in here in 2008-9. I said then do not bail out the crooked banks, let them fail. This is the biggest theft in history. And not one of them has gone to jail.
Guru

Los Angeles, CA

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#46397
May 16, 2012
 

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....and get ready for a whole lot more. This is all on obama now. He owns it.
Guru

Los Angeles, CA

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#46398
May 16, 2012
 

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SLAM!

"FLASH: Obama's budget goes down in flames...
Unanimously rejected by Democratic Senate...
Fails to get single vote anywhere in Congress...
Even labor unions oppose..."
Guru

Los Angeles, CA

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#46399
May 16, 2012
 

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Election 2012: North Carolina President
North Carolina: Romney 51%, Obama 43%

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Wednesday, May 16, 2012

Mitt Romney has moved out to an eight-point lead over President Obama in North Carolina after the two men were virtually tied a month ago.

The latest Rasmussen Reports telephone survey of Likely Voters in the Tar Heel State shows the putative Republican nominee earning 51% of the vote to Obama’s 43%. Two percent (2%) like some other candidate, and four percent (4%) are undecided.(To see survey question wording, click here.)

That’s a big change from last month when Romney posted a narrow 46% to 44% lead over the president in Rasmussen Reports’ first survey of the race in North Carolina. Democrats have signaled North Carolina’s importance as a key swing state by deciding to hold their national convention in Charlotte this summer.

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