In the dark of night...
Ouch...another $25 billion down the drain. Late last night - maybe to avoid a stock market crash - the government announced they are negotiating a bailout for Freddie and Fannie. After hours trading saw declines of 20% - 25% of their stock prices. Stay tuned for Monday.
Here's a link to the AP story on yahoo.com
"The news also followed a report Friday by the Mortgage Bankers Association that more than 4 million American homeowners with a mortgage, a record 9 percent, were either behind on their payments or in foreclosure at the end of June."
Here's the Wall Street Journal article.
Do you think these taxpayer funded bailouts will help the economy?
posted by Gayle Washburn @ 9:44 AM
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5 Comments:
Steve & Roy are being snarky on the Gazette and are attacking you.
Looky what I dug up,intresting isn't it?
Jul 14, 2006
On Tuesday evening, July 11, the Fillmore City Council met to consider the North Fillmore redevelopment plan and the Cabrillo plan for 29 units of low income housing next to the railroad on main street just east of Mountian View. The Fillmore and Western Railroad opposes the plan because of dangers to Children. The council wisely took the advice of the public for further study despite Councilwoman Cuevas' cold and callus attempt to push the project through anyway totally neglecting the fact that little chldren could be killed and lose their arms and legs.
With regard to the North Fillmore Plan, the Council went ahead with the approval of 700 units depite an outraged audience in council chambers opposing the plan. Councilman Smedley commented that the number of people opposing the plan in council chambers was small compared to the total population of the town and that those not present had to be represented. Interestingly not one person in favor of the project was present in council chambers! Some opposed to the project made such eloquent arguments that those present cheered and clapped. Mayor Viagas said that was a slap in the face to the City Council. Councilman Conway said that he had dug his family out of a flood in the Los Serenos tract and there is nothing wrong with others digging themselves out in the future. Councilman Dressler said he had heard all kinds of arguments about floods and natural disasters and considered it "the sky is falling" clap trap.
A majority of those attending left wondering what has happened to small town democracy in Fillmore? Isn't the council supposed to represent the people instead of the developers as it appears to be representing? Time for comment was limited to 3 minutes by the council. Nevertheless, when a spokemen for the developers spoke, Mayor Viagas let the spokenman ramble on past the three minute limit until one irate resident said, "Mr. Mayor, does this man get more time than the rest of us because he represents developers?" Another resident watching the time observered that the Mayor had allowed the developer's lobbyist speak for 4 minutes and 30 seconds without saying anything!
Clearly, the Fillmore City Council stinks and the voters must recall and elect new numbers who will not ignor the public's interest as soon as possible.
@ anons: Thanks for the heads up...and the laugh..."snarky" cracks me up. I have posted a response on the Gazette.
As far as the July 14th article, was this published in one of the papers? I don't remember seeing it before.
It was posted on Topix.com
All I have to say about it is...TWO MORE TO GO!!!!!
Why is it the Paper and the City are quiet about The Taser Boy? Why are they mum about his identity? Why is Taser Boy still employed after he brought a weapon to work? So the Chief is on leave (at our expense)for an ALLEGATION,and Taser Boy gets promoted(at our expense)for a KNOWN VIOLATION of the City's own rules? Is this a case of zero tolerance? or justified favoritism?
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