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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsObama Admin-brokered mortgage settlement ended up helping Scott Walker
http://thinkprogress.org/economy/2012/02/10/422744/walker-settlement-budget/?mobile=nc
Gov. Scott Walker To Use Foreclosure Settlement Money To Balance His Budget, Not Help Homeowners
Yesterday, 49 states joined the federal government in announcing a $26 billion settlement with five of the nations biggest banks over the banks foreclosure fraud abuses: http://thinkprogress.org/economy/2012/02/09/421865/foreclosure-fraud-settlement-numbers/ The money from the settlement is meant to aid homeowners who lost their homes to foreclosure or who find themselves underwater, meaning they owe more on their mortgage than their home is currently worth.
However, Wisconsin Gov. Scott Walker (R) whose high profile assault on workers rights has prompted a recall effort against him isnt planning to use the money to help homeowners. Under the terms of the settlement, Wisconsin is set to receive $140 million, $31.6 million of which comes directly to the state government. And Walker is planning to use $25.6 million of that money to help balance his states budget: http://www.jsonline.com/business/walker-van-hollen-chunk-of-mortgage-relief-going-to-state-budget-uj45185-139070349.html
snip
A memo from Wisconsins Legislative Fiscal Bureau released yesterday notes it is anticipated that Wisconsin will receive $31.6 million. Based on discussions between the Attorney General and the administration, of the amounts received by the state, $25.6 million will be deposited to the general fund as GPR-Earned in 2011-12, and the remaining $6 million will be retained by the Department of Justice to be allocated at a later date.
The settlement money that came Wisconsin's way was easily available for Walker to steal, thus helping him artificially reduce Wisconsin's budget deficit in time for him to prevail in the recall vote. And the settlement itself was a Get-out-of-jail-for-pennies deal for the banks who should have faced criminal charges.
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Obama Admin-brokered mortgage settlement ended up helping Scott Walker (Original Post)
brentspeak
Jun 2012
OP
SoutherDem
(2,307 posts)1. Scott is a scumbag
Need to go to jail.
Swede
(33,334 posts)2. Still scouring the internet for anything vaguely anti-Obama,I see.
Oh well.
brentspeak
(18,290 posts)3. No need to "scour"; the story is highlighted on a whole bunch of websites
Meanwhile, infantile "I don't hear you!" thumbs-in-the-ears distraction antics don't provide much in the way of cogent responses to an actual and important news story.
Swede
(33,334 posts)4. From six fucking months ago.
You start your day by googling "Obama bad".
brentspeak
(18,290 posts)5. Did Walker win his recall election six months ago?