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Who Says it's Difficult to Get Bailouts or a Loan Modification Anyway?

Who Says it's Difficult to Get Bailouts of Government Aid?

Who says it's difficult to get government aid? Nonsense! I just read a breaking news story about a house committee investigating California congresswomen Laura Richardson and Maxine Waters . It seems as though Congresswoman Richardson lost her home in Sacramento which was sold in foreclosure and then Washington Mutual - who then foreclosed on the property... gave it back to her. The committee is going to examine if she received preferential treatment! EXCUSE ME??? Question her?? Why not arrest her? That is a pretty good deal in my books, but it gets better. Maxine Waters in being investigated for working deal for a troubled Massachusetts-based OneUnited Bank who received $12 million in bailout. Congresswoman Waters never disclosed her husband was once on the board of directors of the bank and still owned stock in it. Just a detail....The bank received $12.5 million in Federal Monies. (Congresswoman Maxine Waters is a senior member of the congressional committee overseeing banking.)

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Posted by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO on 10/29/2009 11:38 PM

Comments (20)

Congressional Investigations in the ActiveRain Channel

ethics in government, investigations, ethics, congress, congressional investigations, preferential treatment, political patronage, investigate

Originally posted at: Atlanta Real Estate | Atlanta Housing News for Real Estate: Who Says it's Difficult to Get Bailouts or a Loan Modification Anyway?

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20 Comments on Who Says it's Difficult to Get Bailouts or a Loan Modification Anyway?

OCT

wouldn't it be nice if everyone who got foreclosed on could get their homes back. Thanks for the blog Jim....very scary stuff....

Jim,

And if it wasn't for an accidental posting of this information, we would never know. Transparancy for everybody...except Congress.

Rich

Debbie Cullen-Your Cape Coral, FL Specialist (Century 21 Sunbelt 239.233.2322) I thought it was interesting...the special treatment they get. What hypocrite's!

Richard Iarossi, Crofton MD Real Estate, Annapolis MD Real Estate (Long and Foster® Real Estate, Inc.) I was glad I read it. They are so sleezy in Congress.

Jim - I started a file on political corruption several months ago with the idea of doing a post. But it's just too pervasive; almost all should be included.

Turns my stomach Jim. If it's true, she should be arrested or maybe she should be forced to spend the rest of her days finding ways to help other short sale victims!

Jim - I am sure that WAMU did for Ms. Richardson what they would for anyone. If you dig deep there are probably thousands of examples, but then again, maybe not. So now we have Water, Richardson and Rangel under investigation. But let's not forget Murtha. So much for the "...most honest, most open, and most ethical Congress in history”

John Mulkey, Housing Guru (TheHousingGuru.com) Beyond scary how much of this is going on!

Barb Szabo E-pro Realtor Cleveland Ohio Homes (RE/MAX Trinity) If guilty they should throw the keys away! It would be the ultimate betrayal to the American people. "All men are created equal?"

Mike Saunders (Keller Williams Realty - Greater Athens) Congresswoman Richardson lost 6 homes to the bank if you read the story. These are the persons that are guiding America? Whenever someone talks about how ethical...I feel a scam or a con coming on!

Jim, watching Fox News this morning and just saw a piece on the congress people. One aid has been fired for not handling the ethics paperwork properly.

Guilty as an egg-sucking dog. It's a shame our lawmakers are above the law!!

Jim- It's a real shame they seem to want to place standards and ethics and pay caps on others while they are just exempt from all the rules. This story makes me spit fire and smoke come out of my ears, yet it just happens over and over and over and they never go to jail, loose their job over it. I wonder if I can stop paying for my house and my business and just keep them anyway? NOT!

Frank Rubi Kenner/Metairie LA Real Estate (Frank Rubi Real Estate Licensed in Louisiana) The guy that was fired should be up for some type of award.

Sonja Patterson REALTOR for Cypress, Houston, Katy, TX (RE/MAX Realty Center) They are only above the law if we allow them to be.

Tammy Lankford/Broker (Lane Realty) Lake Sinclair The rules do not apply to them.

It will be interesting how this is handled. This is not good and I am sure there is more of this happening but hasn't surfaced.

Barb Van Stensel, Realtor - Chicago, Illinois (Keller Williams Lincoln Square) I am sure there is a lot more we do not see. I was glad it leaked out.

OCT

I've been reading the articles about this, too and I am very pleased that it was leaked. I bet the doors slam shut on this one, even if the journalists try to dig deeper and remind the gatetenders of their full transparency, full disclosure policy. They so protect one another up there.

Dedra Lipscomb Daphne and Fairhope, AL Real Estate (Coldwell Banker United, Realtors - Daphne) The country club called "Congress" is closed to outsiders. This should be a national outrage. Persons should now start to see that a congressperson sitting on a banking committee should not be given a free mortgage from someone they are overseeing. It is unethical, but it it also illegal!

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