Republican Districts Lead the Way in Foreclosures - and Bailout Need
By Susie Madrak Sunday Mar 15, 2009 5:00pmIsn't it ironic? Don't you think? Good thing for these Republican voters that the bleeding heart liberals are in charge now, huh.
Today's losers losing their homes are Republican districts. At least according to the Center for Responsible Lending, who has just issued a new report that shows nine of the top ten districts with the most foreclosures are Republican and most likely to receive the bulk of any homeowner bailout, and thus, at least according to one On Air editor of a major cable network, fit the definition of "losers".
Things look a little better further down the list. However, only six of the 22 districts with more than 10,000 foreclosures projected are represented by Democrats, and only two of those have served a full term. So 20 of the 22 have been in Republican hands until very recently.
In other words, "Since the Rick Santelli's of the world have been complaining about how the people who would be helped by this bill are so 'irresponsible' and are really just a bunch of 'losers.' .... Rick Santelli's 'losers' may turn out to be the people who are supposedly his ideological fellow travelers."
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Its goota be those pesky people of color and those with their sex preferences mixxed up. It cant be the trashy, bitter and racist repugs
Just got through my C&L fix. I was a day behind. It took me THREE Bass Ales to make it through. I think that's my personal record. Ugh. But anyway, that is so ironic. I'm sure FOX news will somehow find a way to spin that so it's a positive....
simply ignore it
Of course they've gotta blame the economic and financial meltdowns on Obama, to solidify their reactionary base, whose bitter angst can most effectively be directed against the Liberal-Commie-Hippy-Socialists who have ruined this Great Nation.
Right?
I mean, after all, Obama's the President NOW isn't he?
It's been done before: The US Is Facing a Weimar Moment
Those backward hypocrite assholes. They need to learn the facts and reality of the situation. Enough of this god damn ignorance. The Press fails us when they don't call out hypocrisy whenever it rears its head. There is very little sympathy from me for people who voted for George W. Bush and his gang again in 2004. Very little.
Yea, I am betting the Liberal areas went under a long time before this happened, and baby republicans bought those properties, now in their possession. It's cool tho the baby follower republicans will only lose their properties to the KING republicans in their areas, and again the cycle of fuck us continues.
is like listening to a faucet drip. Shut them up.
You mean Joe the Plumber can't fix that nagging drip? Oh that's right he's one of them!
And "red" states are more likely to be net beneficiaries of federal spending while "blue" states are likely to be the ones contributing that federal money.
Republitards are immune to facts.
It must be because illegal immigrants moved into those areas, didn't vote, and took all those jobs REAL 'murcans had.
Oh wait.....it was Clinton's fault!
He ran as the President for all Americans and his actions prove it. This Recession is a Democrat or Repuiblican it's an American Recession. Many loyal Republicans have been caught up in this housing problem but got no help for the Republican President or the Republican Law Makers. We watched as Katrina victimes who also paid taxes were left to die by President Bush. Now if by chance they lived they had to pay their far share of taxes by April 15th. What's interesting is immigrants pay US taxes even if they go back home after their season of work. As for immigrants working in the US well that's how we started as a country by bringing immigrants in to the new USA to work the land of the rail roads to build our country to what we have today. Prescott Bush the grandfather of George W. Bush made his billions while working with the Nazis and some Law Makers have parents who were immigrants who got their citizenship. Now wonder the US ranked so low in education.
Does anyone smell something funny here? It couldn't be that somehow Repub could be steering people to questionable mortgages?? Just wondered.
. . . and:
(Votes Republican) + (Makes under 6 figures a year) = (Dumb as a stump)
These are the same pigeons who've been the target of Republican marketing for a couple of decades now. And not just the Rs, but every big-time scam artist (or scam-artist organization)--get-rich-quick schemes (which the housing market sort of was), mega-churches, that whole you-can-invest-your-Social-Security-money-better-than-some-government-bureaucrat shtick, etc.
Think about it: If you decided to quit your day job and become a professional grifter, who would be your easiest pickin's? That's right. And the GOP and the own-your-own-home-for-no-money-down crowd figured that out too.
Oh now I get it why he called them losers.
I just got back from leaving comments at some ignorant videos blaming Franklin Raines and Barney Frank for the crash. So, I already knew that FHA loans weren't the ones to go into foreclosure. Even the subprime loans that Fannie Mae started buying while Franklin Raines was on his way out the door (in 2004) didn't go into default at a rate as high as the industry average. Fannie Mae way out-performed the entirely private lending agencies.
But that's all the cause side of this. On the solution side, I wonder how all those Republican former home-owners feel about how they are being characterized by their representatives.
Of course, very few people talk about the roles of speculators in this debacle. A lot of the foreclosures are in new development in exurbs (very Republican places) like in the central valley of California. By the way, median amount owed on foreclosed houses in California last year was 430,000$ and 60% had been originated within the previous 24 months.
Where's the chorus from right wingers of "gotta get the government off our backs"?
Typical red staters. We hate government, until we need their money.
Maybe Sanford and Jindal will team up and refuse to take any of the money.
You're going to like this one. Credit card companies are now cutting credit limits on people without telling them and they're cutting them below what is owed. Isn't that just charming? Satan has so many helpers.
http://finance.yahoo.com/banking-budgeting/ar...
how anyone expected to "get blood out of a turnip"...
Republicons have always been pro business since I’ve been voting (’72). They will continue to support big business, as opposed to we the people, until the bitter end. I wonder, this rudderless ship they sail, is it mortgaged? And are they current on their payments?
If I read correctly, your list is sorted by number of foreclosures.
Could there be a list sorted by total dollar amount of foreclosures?
I always thought that the mortgage crisis was a function of higher income homeowners peeling more and more equity from there homes as opposed to lower income people defaulting on basic mortgages.
Thanks for a great post.
Sincerely,
This is similar to the red state people bitching about all their tax dollars going to washington despite the fact that all the red states take more fed money than they put in.
As bad as I feel for victims who got caught in the undertow of this mess, and I wish all of them the best in getting back on their feet and their lives in order, but I just have to ask......
How'd that voting Republican work out for you?
Now will you listen to other people besides Faux News and the loud fat guy who claims to be on your side, who claim they're 'looking out for you'.
Have they ever been right about anything?
Again - how's that voting Republican work out for you?
if this demographic continues, in gop districts, they will lose more congressional seats, and voters as more younger and less affluent voters move in. good. the gop is burning the candle at both ends.
It's that all of those republicans who lost their homes are now, in all likelihood, far more educated about the concern their leaders have for them.
How does that old poem go?
"And then...they came for me...and by that time there was no one left to speak up."
I'd wager a lot of those folks will never vote republican again.
Since there are more states with Democratic Governors, more Democratic Senators, more Democratic Representatives (therefore, more Democratic districts), one would think the list of the worst districts with regard to foreclosure would also be predominantly Democratic.
But no.
The irresponsible Republican "losers", as Santelli would have it, had to be doubly irresponsible in order to edge out the majority share of Democratic districts so thoroughly.
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