US foreclosure activity rose in August from the previous month, and banks and lenders took ownership from homeowners at a record pace, according to a new report released Thursday.
Bank repossessions, often the final step in the foreclosure process after a home fails to sell at auction, increased about 3 percent from the month before to 95,364, a record high. At the same time the number of properties that received default notices—the first step in the foreclosure process—decreased 1 percent from a month ago and fell 30 percent from a year ago, a sign that lenders are focusing on their backlog of foreclosure inventory before tackling new distressed loans, according to foreclosure listing website RealtyTrac, which released the report.
Stewart Resnick, a Beverly Hills billionaire “farmer” credited with being the brains behind the Kern Water Bank water privatization scheme, pocketed $40 million in taxpayer funds from 2000 to 2007 via a single water buyback program administered by California’s water officials. Stewart, whose private holding company Roll International owns Fiji Water, Pom Wonderful, pesticide manufacturer Suterra and Paramount Agribusiness, the largest farming company in America and the largest pistachio and almond producer in the world, has also been using the Kern water bank to grow even bigger, nearly doubling his cultivated land holdings just in the three years after the Monterey Agreements.
The Monterey Agreements did more than transform public infrastructure into a personal ATM machine for a small group of wealthy people–they also implemented a generous debt forgiveness scheme that released farmers like Resnick from having to repay the state bonds that had financed the aqueduct system used to pipe in their subsidized water–and instead put California’s residents on the hook for the cash.
Yep, **** is bad. What do you want government to do about it?
Just wanting to know if the Prof or other conservative is going to answer me? What do you guys want government to do about it?
Just wanting to know if the Prof or other conservative is going to answer me? What do you guys want government to do about it?
You know that is the funny thing about their argument sometimes.
It's like, Government shouldn't do anything.
And if Obama hadn't of done anything, I.E. No stimulus etc. and things were worse, you can bet they'd be hammering him for it.
The classic tax cut/spending isn't gonna work this time. We're in such a big hole it's scary. And it's all our faults. We built a society on nothing but thin air (credit)
The partisan bull**** part of your post aside, the last sentence is the single greatest threat to the US economy and has been for 40 years now. We have destroyed our industrial base. We have failed to keep up with autmoation and education. We have created unrealistic labor benefit packages. Both labor and management have created an environment for US jobs to be shipped to other places for cheap labor. We have transitioned from an industrial based economy to a service based economy and it is biting us in the ass bigtime...especially in light of the fact that most service based jobs are relatively low paying low skilled jobs. Hell, entire video store and book chains are being replaced by a red box and online book purchases.
And in the meantime...US citizens cling to their partisan bickering as if it ****ing matters. Oh...it would be easy to blame republicans...or democrats...or the rich...but the people to blame are the people that put them in power and keep them in power.
You know that is the funny thing about their argument sometimes.
It's like, Government shouldn't do anything.
And if Obama hadn't of done anything, I.E. No stimulus etc. and things were worse, you can bet they'd be hammering him for it.
The classic tax cut/spending isn't gonna work this time. We're in such a big hole it's scary. And it's all our faults. We built a society on nothing but thin air (credit)
You mention in the last paragraph that there is nothing we can do. We need to fix our economy structurally. So why do you start by infreeing that the stimulus was a good thing. All it did was push out the problem a bit.
No politician is willing to tell the American people the truth. We need structural changes which will be neither painless not quick.
The reason this administration is in such a problem is that they overpromised and underdelevered. I actually thought that Obama was going to lay out the truth and then lay out a long term solution.
That would have really made him a transformative president.
You know, you should call yourself Vancerant...
What Partisan Bull****?
What was partisan about what I said?
I'm merely stating that Obama was ****ed if he did, and ****ed if he didn't, doesn't matter to most conservatives, they won't like him no matter what he does.
I agree with your first paragraph completely, we're ****ed.
The idea is to give short term relief while working on those structural problems. I won't argue any politician has done the hard things, or will anytime soon, but having a long term plan, as we should, would not rule out a short term relief effort.
Short term action and long term planning are not mutually exclusive. The problem is where there is no coherent thoughts out of Obama as to a long term plan. The structural problems existed well before he ran for presdent. So by now we should expect something which we have not gotten. To me that is the great failure in his leadership.
I don't completely disagree with you. While I do remember a long term plan mentioned once, and i'm not going to look it up, he certainly hasn't pushed any long term solutions. He may have reasons for that, but leadership is about, well, . . . leading.
You know, you should call yourself Vancerant...
What Partisan Bull****?
What was partisan about what I said?
I'm merely stating that Obama was ****ed if he did, and ****ed if he didn't, doesn't matter to most conservatives, they won't like him no matter what he does.
I agree with your first paragraph completely, we're ****ed.
Groundbreaking for new U.S. homes jumped in August to a four-month high, a tentative sign of stability in the housing market after steep declines brought by the end of a homebuyer tax credit......
Housing starts rose 10.5 percent, the largest increase since November, to an annual rate of 598,000 units, the Commerce Department said. Financial markets had looked for a rise to just a 550,000-unit rate.
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