Saturday, January 20, 2007

"Oh boy, this is going to be great!"

First Sneed had a hint of it

Hmmm . . .Dear me. There are rumbles Gov. Blagojevich has been making disparaging comments in public about state House Speaker Mike Madigan.

Rich has provided some more when he reported on a press release from Gov. Blagojevich where he suspended a predatory lending act that Speaker Madigan was a big sponsor/fan of. Seriously however what was the downside of at least starting the pilot program.

Is the Governor trying to get back at Lisa for her having to do her job when it came to parental notification and FOIA stuff? Is he trying to take the speaker down a notch?

I also suspect Mike's folks are looking at the Gov's D-4s and will be more than happy to feed any useful information to reporters.

As a Illinois Republican I have to admit the immortal words of Flounder from Animal House came to mind. "Oh boy, this is going to be great!"

I would put my money on Mike, heck he might take him out just for pure sport at this point.

OneMan

7 comments:

fedup dem,  6:14 PM  

I'm a Democrat, but I wouldn't mind seeing both of them going down.

Levois 6:29 PM  

I guess it's safe to say Blagojevich is full of himself for trying this. He's picked the wrong fight right now. If not him, his staff.

Cal Skinner 10:22 PM  

Can we look forward to impeachment proceedings?

Nah.

Not with Pat Quinn standing in line.

Bridget 7:44 AM  

Someone close to me has been in real estate in the Chicagoland area and across the country for nearly 35 years. He's also a child of the civil rights era and a staunch Democrat.

He was vehemently against this law because it caused people in entire zip codes to have to jump through hoops to get a mortgage, if they can even get one. Because the lender has to foot the bill for this credit counseling business, they make a lot less money on typically small loans. Usually these areas are lower income, frequently black and/or hispanic. What ends up happening is that lenders flag whole zip codes and if you happen to live in that zip code you won't be able to get a mortgage. Or, if you do get one, you will pay a much higher rate.

That's not democratic. I'm down with MJM on many things, but this sure isn't one of them. Blagojevich was right to do this, though he should have been very loud and proud about it. I don't like this press release on a Friday, hush hush business.

Predatory lending is a problem, but this bill wasn't the solution.

Pat Hickey 9:54 AM  

Bridgey,

The lenders prey on the people in those targeted zip codes - in the Auburn Gresham neighborhood where I work every day of the week - just got back from there BTW - more people are losing homes and businesses due to these predators.

This is a good bill - not for the real estate opportunists - but for the elderly who worked too hard to own homes.

Anonymous,  3:29 PM  

Pat,

For an intelligent guy, you're missing this one. It doesn't affect the elderly homeowners already in their homes. My guess is that the law is working just as MJM intended - to slow down the turnover and change in his backyard. Politics starts at home.

Pat Hickey 11:47 AM  

Hey, I ain't that bright.

I do know that if I am bringing in less than $40,000 that it's probably not a great idea to buy a $250,000 home by slamming down $ 1,000 and skipping the fine print.

For a cogent spin on this skinning of working people, take a peek at Phil Kadner's column in the great Daily Southtown.

http://www.dailysouthtown.com/news/kadner/224485,231PKD1.article

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