Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Wisconsin
Related: About this forumWisconsin: Walker to use foreclosure settlement money to balance budget, not help homeowners
http://thinkprogress.org/economy/2012/02/10/422744/walker-settlement-budget/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. 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:
Of a $31.6 million payment coming directly to the state government, most of that money $25.6 million will go to help close a budget shortfall revealed in newly released state projections. [Wisconsin Attorney General J.B. Van Hollen], whose office said he has the legal authority over the money, made the decision in consultation with Walker.
Just like communities and individuals have been affected, the foreclosure crisis has had an effect on the state of Wisconsin, in terms of unemployment. . . . This will offset that damage done to the state of Wisconsin, Walker said.
So the homeowners who were cheated are cheated again so that Walker can lie about the budget.
Recall or conviction, whatever comes first, can't come soon enough.
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
6 replies, 2348 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (8)
ReplyReply to this post
6 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
Wisconsin: Walker to use foreclosure settlement money to balance budget, not help homeowners (Original Post)
Scuba
Feb 2012
OP
ChairmanAgnostic
(28,017 posts)1. both would be nice.
global1
(25,285 posts)2. One Should Have Seen This Coming When This Settlement Was Laid Out And Made It Mandatory.....
that any money going to the states had to be used for the homeowners. I wonder how many other states will do the same thing Walker is intending on doing.
mysuzuki2
(3,521 posts)3. not to mention the fact that Walker created the budget shortfall himself
by giving tax breaks to his cronies.
Viking12
(6,012 posts)4. Reason to Recall Walker #4697
Lefta Dissenter
(6,622 posts)5. Wait!
I thought it was #4698. I demand a recount!
midnight
(26,624 posts)6. I hope this is illegal. The money says for homeowners, not state budgets!
Last edited Sat Feb 11, 2012, 03:07 AM - Edit history (1)
Here is a link showing most of the foreclosures in Milwaukee....http://www.foreclosurelistings.com/list/WI/