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| Announcing Retirement, Dem Congressman Bashes Obama |
| 2011-10-21 |
| [National Journal] Rep. Dennis Cardoza, D-Calif., announced his retirement from Congress this afternoon -- and he issued a scathing parting shot at President B.O.'s track record on his way out. In a statement explaining his decision, Cardoza, a leader of the centrist Blue Dog Coalition, said he was "dismayed" by the administration's "failure to understand and effectively address the current housing foreclosure crisis." "Home foreclosures are destroying communities and crushing our economy, and the Administration's inaction is infuriating," Cardoza said. A former chairman of the moderate Blue Dog Caucus, Cardoza also bemoaned the increasing partisanship in Washington, and blamed the media for fueling the ideological divide in the country, not giving enough attention to moderates. Cardoza is the sixth member -- all Democrats -- to announce plans to retire outright so far. He's also the third member of the Blue Dog Caucus to head for the exits -- joining fellow moderate Reps. Dan Boren, D-Okla., and Mike Ross, D-Ark. The five-term congressman had become an increasingly-vocal critic of his own party's leadership in recent months, fueled by the skyrocketing unemployment in his Central Valley district. He's previously criticized the administration on its handling of the foreclosure crisis - but it's rare to see a departing congressman blast the president in an official statement. |
| Posted by:Fred |
| #9 Oops! "buyer owes the difference" the one in default. |
| Posted by: Dale 2011-10-21 17:26 |
| #8 Gives new meaning to "government housing." |
| Posted by: JohnQC 2011-10-21 16:50 |
| #7 Cincinnatus Chili Hello!, Not anymore. Banks are going after properties now. Foreclose then sell. The buyer owes the difference. You can't just walk away now. In Ireland the government is taking over the foreclosed property then rents it back to the former qualified owner. Part of the rent goes to the original lender. Can you imagine that here. I can. |
| Posted by: Dale 2011-10-21 09:24 |
| #6 That's public good---not part of the players' payoffs. |
| Posted by: g(r)omgoru 2011-10-21 08:55 |
| #5 In fact, slight positive. If the over-valuation of houses was destroying the economy (as it was). |
| Posted by: Bright Pebbles 2011-10-21 08:20 |
| #4 Owner loses Bank loses Buyer gains a house at a bargain |
| Posted by: Cincinnatus Chili 2011-10-21 08:17 |
| #3 REMEMBER: foreclosure is a zero sum game Don't you mean a "negative sum" (everybody loses)? |
| Posted by: g(r)omgoru 2011-10-21 08:03 |
| #2 I bought an over-priced house I couldn't afford based on the knowledge that 9/10 times I'd make bundles with no work. Now it's gone wrong TAXPAYERS have a duty to prevent me taking a loss, and to stop houses being affordable! This is surely capitalism? /sarc. REMEMBER: foreclosure is a zero sum game. Falling Affordability is a sign of falling (not growing) wealth. |
| Posted by: Bright Pebbles 2011-10-21 06:36 |
| #1 The good congressman is wrong - Obama, Dodd, Franks, and the others fully understand the mortgage and forclosure crisis. And they are effectively addressing it. It's just that they want to exploit it for their own monetary and political gain and not solve it. |
| Posted by: CrazyFool 2011-10-21 00:55 |