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Wednesday, March 26, 2008

Villar and Feinstein to push for Foreclosure Bailout

Hi boys and girls, do any of your parents need a bailout??

At 10:30 AM on the steps of City Hall, Mayor Antonio Villaraigosa and Senator Diane Feinstein will call for government intervention in the "MARKET CORRECTION" that is the false crisis involving the Sub-prime mortgage industry.
Lets be candid Mayor Villaraigosa and Senator Feinstein are not being influence by the sob stories of people who fail to read the small print on signed documents.
What the likes of Villaraigosa and Feinstein are most concern about here is the constant flow of property tax revenue that goes to feed the "beast" known as big government.
If any one government entity is responsible for the Sub-prime correction, then lets blame governmental philosophy that reinforces the concept of victim hood and not accountability for one's own actions.
LA Times: "California Freefall" Housing prices fall 25%. Market correction creates affordable housing.
Wonder if any reporters on hand today at City Hall will ask Villaraigosa and Feinstein to comment on "MRS BILL CLINTON'S" war stories from Bosnia. With Ace and Mike working on the campaign one would have to wonder if they had a hand in creating "80 FAKE SNIPERS IN BOSNIA".

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Anonymous Anonymous said:

Yeah, and maybe just like he did for the:


of ADV's less than underwhelming term as a city councilmember, when Mayor Sam said he had seen proof of them, the blogger formerly known as Mayor Sam will ALSO vouch for Hillary's


and claim he has B-roll of them loading their weapons while the plane was landing.

March 26, 2008 9:34 AM  

Anonymous Anonymous said:

Reporters should ask Villar if he plans to eliminate Special Order 40 in light of the facts in the Jamiel Shaw murder.

March 26, 2008 9:36 AM  

Blogger Valley Doll said:


i love it! Red Spot, you are the best!


March 26, 2008 10:21 AM  

Blogger Valley Doll said:


i love it! Red Spot, you are the best!


March 26, 2008 10:21 AM  

Anonymous Anonymous said:

I agree with 9:36 except they should ask it at his press conference this afternoon with the Attorney General of the United States when they are discussing gang violence.

March 26, 2008 10:53 AM  

Anonymous Anonymous said:

Red Snot said...
If "anyone" government entity is responsible for the Sub-prime correction.

Should be, "If any one government..."
Time to reload Red Snot.

March 26, 2008 11:08 AM  

Anonymous Anonymous said:

It's hopeless, 11:08. The GOP champion of CD14 is anti-education. He wears his ignorance as a badge of honor, not understanding that the more you sound like a moron in print, the less likely thinking people will believe anything you have to say.

March 26, 2008 11:40 AM  

Anonymous Anonymous said:

Good one, you know Ace, parke, Mike are shitting bricks cause Hillary f--ked up big time. All the major blogs are blasting her stupidity for LYING.....She really thinks the American people are soooo stupid to believe her lie. Any good reporter will do his job and ask Antonio the question. Everyone says its hurting her but that's typical slime ball Clintons.

March 26, 2008 11:59 AM  

Anonymous Anonymous said:

Lts take Hillary to Drew St where Villar can show her what "under fire" and "sniping" really mean.

March 26, 2008 12:19 PM  

Blogger Red Spot in CD 14 said:

Memo to Mike and Ace,

Who really help Hillary win Texas?

Rush Wot Won It

David Weigel | March 5, 2008, 11:30am

In the days running up to these last primaries, Rush Limbaugh told his national audience of conservatives to vote in the Democratic race.
I want Hillary to stay in this, Laura. This is too good a soap opera. We need Barack Obama bloodied up politically, and it's obvious that the Republicans are not going to do it and don't have the stomach for it, as you probably know. We're getting all kinds of memos from the RNC, saying we're not going to be critical there. Mark McKinnon of McCain's campaign says he'll quit if they get critical over Obama. This is the presidency of the United States we're talking about. I want our party to win. I want the Democrats to lose. They're in the midst of tearing themselves apart right now. It is fascinating to watch, and it's all going to stop if Hillary loses. So, yeah, I'm asking people to cross over and, if they can stomach it -- I know it's a difficult thing to do, to vote for a Clinton, but it will sustain this soap opera, and it's something I think we need. It would be fun, too.

It turned into a pretty hot meme in Texas, and on Monday, while Rush was out, guest host Mark Davis scored an interview with Bill Clinton. Did it work?

Go and check the exit polls. In Wisconsin, Republicans made up 9 percent of the Democratic primary vote. Obama won them 72-28 over Clinton. Just as tellingly, 14 percent of primary voters said they were "conservative," and Obama won them 59-40, a bigger margin than he won with liberals or moderates. Tactical voters who said Obama stood a better chance of winning in November? They went for him 87-13.

Now, look at Ohio. Once again 9 percent of voters were Republicans, but Obama and Clinton split them evenly, 49-49. Once again, 14 percent of voters were "conservatives," and Obama and Clinton split them 48-48. (Obama did better with them than he did with liberals and moderates.) Those tactical voters who thought Obama could win gave him a 80-18 victory, a margin twelve points smaller than the margin in Wisconsin.

It's a similar story in Texas, where Limbaugh has the most listeners of any of these states. Obama won the Republican vote 52-47, but conservatives (22 percent of all voters, up from 15 percent in the Kerry-Edwards primary) went against Obama. For the first time since Super Tuesday, they were Clinton's best ideological group: She won them 53-43. And Clinton won 13 percent of the people who said Obama was the most electable candidate.

Ohio didn't wind up being very close, but Clinton won the Texas primary by about 98,000 votes out of 2.8 million cast. If the exits are right, about 252,000 of those voters were Republicans, and about 618,000 were conservatives. Clinton truly might have won the Texas primary on the backs of Rush Limbaugh listeners.

What's this mean? Psychologically it's hilarious: Every joke that's ever been told about how the right needs the Clintons to survive is true. Hillary Hatred is the gas, the ethanol, and the rocket fuel of the staggering GOP. Logistically, it might mean the end of GOP crossover voting if the Democrats get their game together and pass new primary/caucus reforms when this Ragnarok draws to a close. (In the short term I can't decide if it's better for Hillary or Obama, but it's a probably a relief to both campaigns that Pennsylvania will be Democrats-only.)

UPDATE: The Texas theory is being challenged in the comments, so I'll add one data point. In 2004, Al Sharpton got 3.7 percent of the vote in Texas. Among the Republicans who crossed over to vote in the race, he got 10 percent. He got 2 percent of liberal voters, 4 percent of moderates, and 7 percent of conservatives. There's no way to explain this unless you assume some eventual Bush voters were making mischief for the Democrats.

UPDATE II: An e-mailer to the Corner has the most persuasive evidence yet. An astounding number of voters took Democratic ballots, voted for president, then left the rest of their ballots blank.
The undercount in the D primary was almost 700,000 ballots out of 2.86 million. By contrast, the undercount in the R primary was about 164,000 ballots out of 1.38 million. In the 2004 general election, the dropoff from president to railroad commissioner (the next race on the state ballot) was less than 400,000 out of 7.4 million.

It's reasonable to assume many of these voters were "screw the Dems" Limbaugh listeners.

March 26, 2008 12:51 PM  

Blogger Red Spot in CD 14 said:

Flashback to 2005,

Wake up Angle-eenos. The Mayor-Man is just plain rubbing your face in it.

80 FAKE NEIGHBORHOOD WATCH ORGANIZATIONS created in one year by nominal CM Antonio. . .

80K FILLED POTHOLES in three months (thats +/- 35 an hour, every hour, 24x7... or, one pothole filled every 99 seconds, give or take). . . including travel time, stopping traffic, loading, unloading, yada, yada, yada.

(This kind of "creative" math is obviously just on of the reasons why AV had a 1.8 GPA in college!)

GUARANTEED, AV will never list all the locations -- because, like the 80 FAKE WATCHES they're probably SECRET. NOPE, he'll never make the mistake HAHN did, when AV was able to point to a gapin hole in Hollywood one afternoon before TV cameras and say "that one Jim Hahn said he filled already").

So. you can't get a cop to respond to an ongoing armed robbery or an attempted murder or child-snatching in this city in less than 15-20 minutes (on the best of days), but you can get a POTHOLE filled in 99 seconds????

The Kool-aid drinkers can't NOT believe it, and the rational, questioning people can't get ahold of any part of the apparatus RUN by the power-drunk kool-aid kiddies to prove it's NOT true.

And on it goes (but they DO like that number "80").

I think it's AV's IQ. . . (also on a good day).
December 28, 2005 6:12 PM

March 26, 2008 1:01 PM  

Anonymous Anonymous said:

That was a cool posting.

I remember 2005, when the comments (and the posts) were written by creative, at least moderately knowledgable people who even occasionally had some inside information. Not by day-late, IQ-short, fill-ins regurgitating the morning's Times headlines.

Ah, the good old days of Mayor Sam's Blog. Back when Walter Moore was listed as a "gadfly" next to Hal Netkin, and Zuma Dogg was understood to be nothing more than another rabid loser. Before they were signed on here, lowering everyone's expectations.

And Red Spot was on his fourth attempt at getting a GED (using bribery).

March 26, 2008 2:02 PM  

Anonymous Anonymous said:

Red spot,

You are jealous that these people have homes so you feel no sympathy for them when they get swindled by predatory lenders. Mayor sam is also jealous because he's a renter who can't afford a home. You are jealous of homeowners. Anyone could have gotten caught up in this mess.

I own a home.I constantly received "refinance now" mail, probably ten a day, 20 in email. They said "pay off your car loan, student loan, credit cards with a low cost home equity loan." I had none of these loans and no need to get cash out of my home so I didn't.

Some people called up and got bait and switch. When they saw the final rate they refused the loan, but the lender gave them the loan anyway with 10 points, 16% interest. The homeowners are the victims, not the bad people. Heck, if you had a home and got stuck with one of these loans, you'd be screaming bloody murder, demanding a bail out.

One last point, it's too late for a bail out. The first two waves of foreclosures are already past. Everyone who is going to lose their home already lost it.

The government did the same stupid thing during the S&L troubles. They offered to bail them out after everyone had lost their money.All they did was make certain people get licensed. Did that prevent this latest catastrophe? No.

The government received many reports about predatory lenders for years yet did nothing. I heard about it six years ago. Why do they always wait until after the catastrophe to help, like Katrina, when they could have prevented it. Because it's easier,cheaper to promise to help people after they're already dead.

March 26, 2008 2:20 PM  

Blogger Red Spot in CD 14 said:

I remember reading the fine print when I bought my place. In addition, I have received upteen amounts of the same offers that you bring up. At the end they go in the recycle container.

March 26, 2008 2:27 PM  

Anonymous Anonymous said:

Just before the frenetic buying spree began, me as a single something making almost $50k annual income was just hitting a point where I could likely buy something. I was almost there.

Then came the buying frenzy. Prices shot through the roof. Now home ownership in the LA area on one average single income is way beyond something I could ever have.

The people who took out those loans (and who apparently did not have enough sense to understand what they were agreeing to) collectively have made homeownership impossible for singles with average incomes, like me. They could not afford what they bought, and now Villar and Feinstein want to reward their poor decisions by bailing them out.

Who is coming to the rescue of those of us who did not act with fiscal abandon and are now completely screwed as far as home ownership is ever concerned?


Eff me.

March 26, 2008 2:41 PM  

Anonymous Anonymous said:

In addition, I have received upteen amounts of the . . .

Upteen, Red Spot???

Is that the underage version of "upskirt" or what?

Like the people who want to make English the official language of the U.S., I think Mayor Sam should make English the official language of his blog.

And boot out Red Spot.

Send him home on the short bus.

March 26, 2008 3:30 PM  

Blogger Red Spot in CD 14 said:

Red Spot verbage mijo. Get back to consituent matters.

March 26, 2008 3:45 PM  

Anonymous Anonymous said:

You couldn't buy a home in LA with only 50K income in years. Do the math. Average home is 500K with 20% down finance 400K at 6.5% is $2,500/month. In order to get this loan you must gross $7,500/month you must make $90,000 a year. $500K gives you a crappy house in a bad area. You probably want a nice $1M plus home.

This economy is making homes cheaper, not more expensive. Go buy a $300K home now way out in the boonies if you want one so mad. The market is getting worse. I dare you.

March 26, 2008 5:10 PM  

Anonymous Anonymous said:

Get back to consituent matters.

What the hell's a "consituent", you-jo??

March 26, 2008 5:45 PM  

Anonymous Anonymous said:

The rest of us, who weren't greedy enough to take out loans we couldn't afford or bothered to read, shouldn't have to bail anyone out. Let the banks, executives, real estate agents who pushed shady transactions to get their own cuts -- bail out borrowers.

Lots more homeowners are struggling and worry about reduced equity, and don't have extra cash lying around.

March 27, 2008 12:33 AM  

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