Sirotablog

David Sirota is a political journalist and nationally syndicated newspaper columnist at Creators Syndicate. David writes about political corruption, globalization and working-class economic issues often ignored by both of America's political parties.

  • May 28, 2008 6:33 AM

    Another GOP Gov. stands in the way of reform

    This article today in the Wall Street Journal throws a telling spotlight on Governor Tim Pawlenty's attempts to build a rationale for vetoing a landmark foreclosure relief bill in his state.

    If he were to sign the bill, Minnesota would join Massachusetts in spearheading an outright moratorium on foreclosures, a bold step that has only been talked about at the federal level.

    Fortunately, in addition to Massachusetts, we have examples in New York and other states of legislators moving to enact moratoriums and other comprehensive methods to address the housing crisis. Just last month, Maryland Governor Martin O'Malley took a key role in implementing legislation that would extend the period of foreclosures from 15 days to five months as well as introducing programs to prevent predatory lending and help homeowners refinance their loans.

    Hopefully Pawlenty will be able to learn from these examples of real leadership in times of hardship and do what's right for the working families who are being hit hardest by the subprime meltdown.

    Posted by Austin Guest
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Discussion

  • RivetHeretic [TypeKey Profile Page] :

    I'm more concerned about the high cost of housing than the number of foreclosures. I didn't buy a house because I couldn't afford it. People bought houses that they couldn't afford at prices that were inflated. Foreclosures will help bring the price down so that those of us who did the right thing (saved and didn't take on mortgages that we couldn't afford) can afford them. My heart goes out to those facing forclosure, but in helping them, you hurt the have-nots.

    If the government wants to help, it should repeal the bankruptcy law so that people can get a fresh start and repeal tort reform so that we can get some really big class action suits going to really make those responsible pay where it hurts.

    Posted on May 29, 2008 9:23 AM

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