New Orleans In an excellent book on community building in the wake of disasters of historic proportion, A Paradise Built in Hell, Rebecca Solnit raises a number of insightful points about what she refers to as “elite panic.” In post-Katrina New Orleans we saw this all the time, the predictions of dire consequences and the [...]
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New Orleans President Obama, Secretary Geithner, and the rest of the hapless pickup crew that flubs around in the housing and foreclosure crises came together to “repurpose” yet more of the TARP money that was set aside for home mortgage modifications that might prevent foreclosures and threw $15 billion of the total at some [...] New Orleans From the day the latest foreclosure modification plan as announced several weeks ago, and it became clear that banks saw their participation as voluntary, I said this was not going to work. The government orchestrated immediate acceptance by their subsidiaries, Citi and Bank of America, but as surely as I [...] New Orleans I have taken some heat for recommending that homeowners who are underwater walk away from their mortgage obligations in the face of totally, and now admittedly, inept response to the foreclosure crisis by the Obama Administration all facilitated by the total greenwash of the banks by Treasury Secretary Geithner. It seems according [...] New Orleans I’ve been thinking about this for awhile in utter frustration at the Government’s protection of banks and unwillingness to write down principal to allow homeowners to rightsize their payments with their home values and protect their citizen wealth. I’ve come right up to the line of accusing Treasury Secretary Tim Geithner of pimping [...] Playa Coco I’m beginning to think that no one much cares about the issue of foreclosures for American homeowners. This seems to be a game of “button, button, who’s got the button,” where no one, certainly not the bankers, and likely not the government really wants a program to deal with homeowners fighting to keep [...] |
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