President Obama unveils the Homeowner Bill of Rights housing plan

February 2, 2012

Posted By azBlueMeanie:

President Obama on Wednesday proposed a "Homeowner Bill of Rights" that would fundamentally change the way houses are bought, sold and refinanced in an effort to stabilize the nation's ailing housing system. Obama unveils plan on housing:

One immediate goal of the so-called Homeowner Bill of Rights is to enable more borrowers to refinance, reduce their monthly payments or pay off their loans sooner, rebuilding equity lost in the housing crash.

The legislation announced Wednesday also would create a standardized system for mortgage applications and would expand bulk sales of government-owned foreclosure homes to investors, with the goal of decreasing the number of empty homes.

The bill would expand on a refinancing plan announced in October. That plan directed federal mortgage giants Fannie Mae and Freddie Mac to allow refinancing for mortgage-holders even if their homes are underwater by any amount. But the plan could not be offered to homeowners with mortgages privately held by banks. The new legislation would allow those homeowners to refinance as well, with the associated costs covered by a fee on major lenders.

Nearly 3.5 million U.S. homeowners with private mortgages, who owe more than their houses are now worth, could be eligible if the legislation passes.

Romney’s ‘Mr. Potter Plan’ to get rich on foreclosures (reposted/updated)

February 2, 2012

Posted by AzBlueMeanie:

Last week Willard "Mittens" Romney told underwater homeowners in Florida, "Well, the banks aren't bad people. They're just overwhelmed right now." "The banks are scared to death, of course," he said. "They're feeling the same thing that you're feeling…" Daily Kos: Mitt Romney wants you to know that banks are 'feeling the same thing that you're feeling'.

This comment is not only wrong – it’s wildly out of touch with the millions of hardworking Americans who are struggling to hold onto their homes.  If you’re a homeowner in this country trying to make ends meet, "Mittens" Romney has four simple words for you: "you’re on your own" (George W. Bush's "ownership society").

The "Survivor – GOP Presidential Primary" now turns to the GOP caucus in Nevada, the state with the nation's highest foreclosure rate. So I will repost what "Mittens" Romney told the Las Vegas Review-Journal last October in an interview regarding his solution to the Foreclosuregate scandal.

(Repost)

December 2007: Solving the Mortgage Crisis May Require a Guardian Angel – New York Times:

I knew it was the Christmas season. There on television was Henry F. Potter, the mean banker, quizzing Pa Bailey, the idealist from the building and loan society.

“Have you put any real pressure on these people of yours to pay those mortgages?”

“Times are bad, Mr. Potter. A lot of these people are out of work.”

“Then foreclose!”

“I can’t do that. These families have children.”

“They’re not my children.”

September 2011: Willard "Mittens" Romney channels the spirit of Mr. Potter. Romney told the Las Vegas Review-Journal that the problem in housing is that banks haven't been allowed to foreclose on enough people, making it more difficult for investors, i.e., creditors - the rentier class in classic usage (see Robert Kuttner, Debtors' Prison) - to buy up underpriced properties and rent them back to the former owners. Daily Kos: Romney’s housing plan: 'Allow investors to buy up homes' by accelerating foreclosure process:

Arsenic tainted Fools Gold

February 2, 2012

by David Safier I receive the Goldwater Institute Daily Emails. Know thy enemy. I pay most attention to the anti-teacher, anti-school-district tirades. But lately, G.I. has put out a barrage of emails about the evils of unions and the "common sense" solutions to cutting their power. It's been the buildup to the recent draconian anti-union … Read more

Arizona: Worse than Wisconsin – Fight Back!

February 2, 2012

Posted by AzBlueMeanie:

Senate Minority Leader David Shapira was a guest on The Ed Show on Wednesday night, discussing Governor Jan Brewer and her Tea-Publican legislature's full-scale assault on public employee unions and workers rights in the Arizona legislature this week. These bills would make Arizona the most anti-union, anti-worker's rights state in the union. And it is all being coordinated by the Goldwater institute, the corporate funded ALEC partner.

Sen. Shapira has set up the web page solidarity.az.org at Stand up for the Middle Class – David Schapira for Congress for a petition (look for the logo below) that you can sign and to receive updates on these draconian bills to allow you to make public comments on these bills — not that our super-majority Tea-Publican legislature gives a damn what you or anyone else thinks. This is Tea-Publican tyranny, and they must all be removed from office.

I have never seen a people more apathetic and resigned to accepting abuse than Arizonans. What the hell is wrong with you people? Our brothers and sisters in Wisconsin, Ohio and Indiana have stood up and turned out hundreds of thousands of protestors into the streets to fight back against the Tea-Publican tyranny. They have defeated Gov. Kasich in Ohio and they are about to recall Gov. Walker and Tea-Publican senators in Wisconsin. What's it going to take for Arizonans to slip off your shackles and to stop bowing your heads in defeat and to stand up and Fight Back! Take back our state!

Video below the fold.

Lori Klein: We’re giving police, firefighters “new freedom”

February 2, 2012

by David Safier Seriously. It's in quotes, so I have to assume Sen. Lori Klein really said this about the draconian anti-union bills making their way through the legislature, bills which, according to someone from the Goldwater Institute, would make the Wisconsin legislation look "moderate." Republican Sen. Lori Klein, who sits on the Government Reform … Read more

Lies, damn lies, and the Goldwater Institute

February 1, 2012

Posted by AzBlueMeanie:

The lobbyists from the Golwater Institute will testify on Thursday about how public sector employees are paid more than their private sector counterparts. This is something that FAUX News Fraudcasting has been laying the groundwork for since early 2011. This claim has been refuted by several studies over the past year.

Just last week, the Arizona Republic reported Study compares pay, benefits of workers in Phoenix sectors:

A study Phoenix commissioned to settle disputes over public-employee compensation shows city workers earn slightly more in total pay and benefits than a combined average of competitive peers in both the public and private sectors.

But when benefits are stripped from the equation, Phoenix workers make far less in base pay compared with private sector entities and about the same as local public-sector peers.

The findings are contained in a study from the Segal Group that the Phoenix City Council will review today. Phoenix paid $430,000 for the 300-plus page report, and there is already disagreement about what the report says.

* * *

The study, released recently, based its findings on data averaging information from both the private and public sector. Cities used in the study for comparison included San Diego, Los Angeles, Philadelphia and Houston.

Locally, most major cities in Maricopa County were included along with data on state employees. Private-sector information came from published databases and a survey of seven local companies or utilities.

The study shows Phoenix is roughly competitive with the public sector and 19 percentage points below market compared with the private sector when it comes to base salary. The report based its findings on the city's current labor contracts, which included a 1 percent wage cut that has been in place for two consecutive fiscal years.

[Compared with the private sector alone, total compensation for Phoenix employees is barely at market.]