How Bad Is It?
Hawaii can't afford it's Congressional election
"HONOLULU - Cash-strapped Hawaii can't afford to pay for an election to replace a congressman who is planning to step down next month to run for governor, potentially leaving 600,000 urban Honolulu residents without representation in Washington.
Budget cuts have left the state Office of Elections with about $5,000 to last until July, with a special election costing nearly $1 million, interim Chief Elections Officer Scott Nago said.
Until the state finds money or this fall's regularly scheduled elections occur, one of Hawaii's two seats in the House of Representatives will remain vacant."
And this was published in The New York Times:
Walk Away From Your Mortgage!
"John Courson, president and C.E.O. of the Mortgage Bankers Association, recently told The Wall Street Journal that homeowners who default on their mortgages should think about the “message” they will send to “their family and their kids and their friends.” Courson was implying that homeowners — record numbers of whom continue to default — have a responsibility to make good. He wasn’t referring to the people who have no choice, who can’t afford their payments. He was speaking about the rising number of folks who are voluntarily choosing not to pay.
Such voluntary defaults are a new phenomenon. Time was, Americans would do anything to pay their mortgage — forgo a new car or a vacation, even put a younger family member to work. But the housing collapse left 10.7 million families owing more than their homes are worth. So some of them are making a calculated decision to hang onto their money and let their homes go. Is this irresponsible?
Businesses — in particular Wall Street banks — make such calculations routinely."
"HONOLULU - Cash-strapped Hawaii can't afford to pay for an election to replace a congressman who is planning to step down next month to run for governor, potentially leaving 600,000 urban Honolulu residents without representation in Washington.
Budget cuts have left the state Office of Elections with about $5,000 to last until July, with a special election costing nearly $1 million, interim Chief Elections Officer Scott Nago said.
Until the state finds money or this fall's regularly scheduled elections occur, one of Hawaii's two seats in the House of Representatives will remain vacant."
And this was published in The New York Times:
Walk Away From Your Mortgage!
"John Courson, president and C.E.O. of the Mortgage Bankers Association, recently told The Wall Street Journal that homeowners who default on their mortgages should think about the “message” they will send to “their family and their kids and their friends.” Courson was implying that homeowners — record numbers of whom continue to default — have a responsibility to make good. He wasn’t referring to the people who have no choice, who can’t afford their payments. He was speaking about the rising number of folks who are voluntarily choosing not to pay.
Such voluntary defaults are a new phenomenon. Time was, Americans would do anything to pay their mortgage — forgo a new car or a vacation, even put a younger family member to work. But the housing collapse left 10.7 million families owing more than their homes are worth. So some of them are making a calculated decision to hang onto their money and let their homes go. Is this irresponsible?
Businesses — in particular Wall Street banks — make such calculations routinely."
posted by nolocontendere at 7:25 PM
2 Comments:
The banksters default every day, only to be bailed out by the taxpayer.
And they say banksters ripping everyone off is "tin-foil hat!"
Everyone now knows that's an urban myth.
Banks are selfless, altruistic and saintly.
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