 |
| Critics say the banking lobby killed SB 1275 in the assembly |
LENO’S BILL WOULD HAVE ALLOWED FOR EASE OF LOAN MODIFICATIONS
Most observers in favor of Sen. Mark Leno’s foreclosure bill called it “modest.” The piece of legislation that would have afforded troubled borrowers a decision on whether they were approved for a loan modification was inexplicably voted down last week by state Republicans and many liberal members of the assembly.
East Bay assemblymembers Mary Hayashi, Alberto Torrico and Joan Buchanan all voted against SB 1275. Along with the 38 noes recorded Aug. 26, 13 members shielded themselves from criticism by abstaining, including San Francisco’s Fiona Ma and two Democrats who recently failed in attempts to rise within the party’s power structure–Kevin De Leon and Hector De La Torre. East Bay Sen. Ellen Corbett voted in favor of the bill in June on both the Senate floor and appropriations committee. Corbett also has a bill regarding the foreclosure process currently awaiting the governor’s signature.
A consumer watchdog group reported 20 lobbyists of the banking industry crawling about the assembly floor as the vote was taken last week. Various banking interests had argued the bill would add higher levels of complexity to the foreclosure process and open mortgage servicers to a bevy of frivolous lawsuits. But, during the process of possible notice of foreclosure, many borrowers reeling from a poor economy, were forced to make monthly mortgage payments to their banks when their homes were ultimately foreclosed upon anyway.
A few editorials have taken shots at Hayashi, Torrico, Buchanan and Ma for their votes, saying they amount to treason against the ideals of their party, which traditionally espouses looking out for those with the least. Furthermore, what makes this foursomes vote more disconcerting is they all belong to minority groups the bill would have greatly helped. According to the Center for Responsible Lending, between 2004 and 2008, Latinos and African American mortgage holders accounted for 35.6 percent of home loans in California, but made up of over half of the number of foreclosures. Both groups also have disproportionally far higher loans rates than any other demographic.
The home is where the heart is, so to speak. Without one, studies have clearly shown; education, health and public safety eventually turns for the worse, making these lawmaker’s no votes on SB 1275 one of the most ill-advised and potentially harmful for the residents of their Bay Area districts.
UPDATE: Aug. 30, 2010, 3:45 p.m. Information on Corbett’s senate bill was added.
ebcitizen.com 
A. Furtado
http://www.youtube.com/watch?v=OoqI5PSRcXM
Apparently, you'll benefit from others who benefit from you…somehow.
LikeLike
Why do people who signed a legal contract on a piece of real property have to have their debts washed away?
LikeLike
Wait, didnt THIS Michael Moore ask me who I thought was a good choice for Democratic Central Committee? Isn't that an affiliation? Nice tri (intentional).
LikeLike
Michael More…dude, get a sense of humor you angry my comedic intelligence and you sound like a Dungeons and Dragons geek. Yes, I said it.
And next time, respond with a nasally tone, please.
http://vids.myspace.com/index.cfm?fuseaction=vids.individual&videoid=11333808
I know you are but what am I, Anonymous # too?
LikeLike
Anonymous, Nicholas is an excellent speller for a man of his attainder. Look at how well he performs in relationship to Manuel.
LikeLike
What's the big deal? The mortages were junk to begin with, sold by shysters, signed by idiots. If we didn't have so much government interference in the housing market, prices would have stayed level. There aren't that many foreclosures in Texas because they allow the market to reign. No one is so stupid as to pay $400,000 for a 60 year old, 800 square foot cracker box off of Davis St. or A St. in Texas.
Oh you poor little babies, always crying about Manuel and I didn't even comment until just now. Wusses!
Manuel
LikeLike
Leave it to beaver was a Cleaver.
You are not very clever Nicholas E. Terry, nor are you a very good speller.
LikeLike
Oh, you.
Cleaver name.
LikeLike
NET. A 'pissant whim' would be a meaningless and tiny thought or interest. It alludes to your short focus time and cheap shots.
While I admire your punish nature, I am neither a Democrat nor a Yoda. I have zero affiliation with anyone.
My name is Michael Moore.
LikeLike
Not bored. I wish I worked in public service.
Anywho…yes, not anyhow.
I've asked Steve to put a spell checker on here…but alass (intentional), nothing.
I'm a simple man…far below your level, so thank you for keeping me informed of my errors on a blog…one not taken to serious of course.
You see…I may or may not know what a pissant whim is…ideally one would look it up and see that it's related to the tiny, annoying creature, the ant…however, I guess I just associated you with piss-ant…and nothing more (well, a lot more but the blog should remain family oriented). Anonymous considers me worthless…I too think this grade school banter is worthless, but I also find the fun in it.
Please dont say I'm knotty…it goes against my personal preferences in who can make sexual innuendo at me; if not that, then be in construction and even then, I wouldn't want to be told Im knotty.
For now, I'll call you Yoda, since, and I quote, “Waisting you may be…”
Oh and I doubt we've met…but if you'd like to share who you are, I can put that to a rest.
LikeLike
NET. I could be wrong, but I am guessing you will brush this off and say you are bored. More likely you are a board. A knotty one at that.
LikeLike
NET. Do you even know what a pissant whim is?
LikeLike
NET. I do not believe we have met. If you want to equate Jefferson with bathroom reading material, so be it. Waisting you may be, but I suspect you have issues with spelling homonyms and you meant wasting. Are you sure you are not related to Manuel?
LikeLike
Great bathroom reading material…now, maybe live up to your google search. My pissant whims, OUR pissant whims, are for you to respond to…assuming you're who I think you are…Mr. X.
It don't make no never mind, as my Uncle would say, that you posted these.
I have no enemies…at least of any worth, value or courage. Maybe even, yeah, honor.
I gotta' say, I love the Jefferson quote about having no ideas rather then false ones…show on other foot says just the opposite…'you have no ideas, at least I'm trying…' and other amusing excuses.
I write this waisting my own time, I'm not waisting tax payers time & money.
“If there is anything that a public servant hates to do it's something for the public”
-Kin Hubbard
“Politicians are like diapers. They both need changing regularly and for the same reason.”
LikeLike
NET. Here is the response. That I am not attendant to your pissant whims and timing is your issue not mine.
Delay is preferable to error.
-Thomas Jefferson
Don't talk about what you have done or what you are going to do.
-Thomas Jefferson
It is always better to have no ideas than false ones; to believe nothing, than to believe what is wrong.
-Thomas Jefferson
An enemy generally says and believes what he wishes.
-Thomas Jefferson
A coward is much more exposed to quarrels than a man of spirit.
-Thomas Jefferson
LikeLike
No responses.
Someone must be being fitted for a new suit.
LikeLike
Anonymous:
Mary Hayashi or her aides do not have anything anyone wants, nor are they empowered to control the information the electorate want & need, this includes outlets of the media, no matter the outlet.
Anyone in power, who has “control,” need not abuse that power…no matter the profession. Today, she and her aides are servants of the people, tomorrow, they may be servants of someone who can just as easy disrespect and abuse them…her job doesn't last forever.
No one on her side controls what I say…but they have been offered a steak dinner to say it to my face.
I know of no safe depository of the ultimate powers of the society but the people themselves; and if we think them not enlightened enough to exercise their control with a wholesome discretion, the remedy is not to take it from them but to inform their discretion. -Thomas Jefferson
LikeLike
NET, do not limit those who talk down to us to just Politicians, but Doctors, Lawyers, Plumbers, Electricians, Mechanics, Bankers, Cops, Nurses, Editors and Administrators. In short anyone who controls what you want and has the ability to control that conversation. Then of course there is Manuel.
LikeLike
Hayashi's camp will ignore speaking to the Citizen, but they'll gladly come on the “blog” to talk trash and try their hardest to make her out to be a saint. Typical of politicians to talk down to us, thinking they are smarter and better then us.
Reality check…simply put, you're not!
LikeLike
The story on the democrats who voted no(including hayashi) was also on the chronicle's sfgate.com website. I guess the Chronicle and the Citizen need journalists according to the poster above.
By a better bill does Hayashi's group mean the banks got a better deal and the consumer got fewer benefits?
LikeLike
I apolagies to Legislative Aides…I meant to say, “smug, arrogant Legislative Aides…that are bored on a Wednesday night…” now bring it.
Further more…as a Consumer Advocate, I do see this as simply political. Steve, check her donor list next round, I'm sure you'll see some connect the dots there.
Geez, have you ever met anyone that really liked their boss so much? Kinky.
LikeLike
Steve and I don't pee on each other. What do you think we are? Legislative aides? Bring it.
This vote was political last week and again today.
Dems are outragged with Bloody Mary.
LikeLike
Anonymous, that's BS she voted against it because it wasn't good enough. If she voted for it, it's because everyone jumped on her ass for voting no. Hayashi should find someone with a $1000 mortgage payment and donate her Fox money to them. Whether Tavares is a journalist or not, then what are you reading it for? jerkoff.
LikeLike
OMG! They don't talk to blogs, but they sure read them. Shall I defy space and time and write about the future? The article was written this morning. If I don't understand the “fluidity” of the legislature, I certainly understand the politics of changing her vote. Am I the only one who criticized her vote? Regretably, by the sound of it Hayashi's constituents would rather have her return Rupert Murdoch's money than have her vote yes, if given the choice.
LikeLike
Snonymous, you must be eating the same kibble that Manuel's Mom feeds him if you think that Steve is a journalist. The only fluidity that Steve understands is when Nick pees on his leg.
LikeLike
FYI Steve – Hayashi voted YES for SB 1275 after it was amended today to better protect homeowners.
If you understood the fluidity of legislation and the concept of voting it down to get a better bill after reconsideration, then someday you might get hired to be a real journalist!
LikeLike
The California Democratic Party and the Hayward Demo's should be ashamed of Asm. Hayashi. BUT…alas, they won't.
I called her office…rang and rang and rang…to bad, I wanted to see if she planed on helping folks out some other way given that she knows a lot about buying and keeping a house or two!
LikeLike
She has more money than God, bought her husband a judgeship, if she is in foreclosure its tactical. Probably paying the mortgage with campaign donations. I am embarrassed as a democrat that Hayashi is the best we can do.
She is slime
LikeLike
JUDAS! Can you find out if any of her two homes are in foreclosure.
LikeLike