October 2010

Future, coalition, development, growth, land-use planning, transportion -- but some of the words rendered meaningless

As foreclosure and unemployment gnaw away at the social fabric in the crumbling tract housing of the Valley, like highly trained, professional rats babbling our language, the usual suspects of Valley leadership met and scampered through their consensual maze inside a mausoleum of commercial real estate hubris in Modesto, a city that has been ruining its promised land for 40 years with no end in sight for its wanderings in darkness. -- Badlands
Modesto Bee
Building a Future: Planning experts share wisdom at summit

Foreclosure and the Blue Dog Brat

At the bottom of this series of articles on the ongoing foreclosure crisis,  we see Rep. Dennis Cardoza, Pimplico Kid-Annapolis MD, trying to rack up a few badly needed points off the suffering of foreclosed homeowners while his lead over his Republican challenger, Bill Berryhill, shrinks by the day. We may say with a great degree of confidence that the Kid's "HOME Act" will be as dead on arrival this time as it was the last time he introduced it.

50 state attorneys general launch mortgage foreclosure investigation

I read the news today oh, boy ...

White House press secretary Robert Gibbs said Tuesday that the administration supports a multistate investigation. But he reiterated that the administration is wary that a freeze could cause "broader harm done to the housing market and to the housing recovery."
That view is in contrast to other Democrats who have called for a national moratorium on foreclosures. -- Washington Post, October 13, 2010

Pimlico Kid -- the realtors' own

...at least the part not already owned by bankers, sugar-beet growers, dairy processors, etc.
Merced Sun-Star
$ 600,000 donated to Cardoza...MICHAEL DOYLE, Sun-Star Washington Bureau
WASHINGTON -- Real estate and hospital interests are pouring more than $600,000 into a campaign to re-elect Rep. Dennis Cardoza, D-Merced.

"It's called plutocracy"

Karl Rove visited UC Merced recently, at the invitation of the campus Republicans. It is hard enough to imagine a UC student as completely subsidized as these are by the faded ideals of a once proud, rich and generous state being so ignorant and stupid that they would make such an idiotic invitation. But, on the other hand, UC is no longer, strictly speaking, that great product of those great, faded ideals, which last saw the light of day when Jerry Brown's father was governor. Today, UC has been absorbed by corporations.

Private fraud, public force

It's a win-win/public-private partnership.
In our attempt to keep focused on the real issue as the airwaves and the postlady's pouch are filled with distractions and irritations, the bad mortgage undertow is getting stronger with time. Will the elections matter on this issue? According to Open Secrets, the Republican candidate for the 18th congressional district also received a nice, fat check from the National Association of Realtors ($10,800).
Badlands Journal editorial board

Lents defense

If, as Balzac said, behind every great fortune there is a crime, what lies behind a plutocracy? The corruption of an entire political-economic system?
As some may notice, the foreclosure story is growing larger, not smaller, with time.
Badlands Journal editorial board
How Joseph Lents Dodged Foreclosure for Eight Years and Started a Movement
By Peter Coy, Paul M. Barrett and Chad Terhune