Andy Cuomo

 Cuomo

In the August 5, 2008 issue of The Village Voice, Wayne Barrett argued that Andrew Cuomo made a series of decisions as Secretary of HUD between 1997 and 2001 that helped give birth to the country's current mortgage crisis:

"He took actions that—in combination with many other factors—helped plunge Fannie and Freddie into the subprime markets without putting in place the means to monitor their increasingly risky investments. He turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down, and he legalized what a federal judge has branded "kickbacks" to brokers that have fueled the sale of overpriced and unsupportable loans. Three to four million families are now facing foreclosure, and Cuomo is one of the reasons why.

Kliphnote:  Andrew Cuomo is a clone of his father, Mario. 

Tax and spend Liberal.

This is why we have such high taxes in NY state. 

NY has the best, Read that as "Most expensive", Welfare/Medicaid system in the country.

Mario Cuomo said he wanted to increase welfare payments because 

"they don't make enough money" on  Welfare. 

This is why people move from out of state to NY state to be on Welfare.

People on Medicaid (for the needy?) have better health care than many working people.

Makes me wonder why I worked my whole life.

I could have just as easily spent my day down by the river, fishing and reading a book.

Foreclosures Rise; Repossessions Set Record

Published: Thursday, 16 Sep 2010 | 2:11 AM ET

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By: Joseph Pisani
CNBC News Associate

US foreclosure activity rose in August from the previous month, and banks and lenders took ownership from homeowners at a record pace, according to a new report released Thursday.

Fuse | Getty Images Foreclosure fillings rose 4.18 percent in August from July.

Bank repossessions, often the final step in the foreclosure process after a home fails to sell at auction, increased about 3 percent from the month before to 95,364, a record high. At the same time the number of properties that received default notices—the first step in the foreclosure process—decreased 1 percent from a month ago and fell 30 percent from a year ago, a sign that lenders are focusing on their backlog of foreclosure inventory before tackling new distressed loans, according to foreclosure listing website RealtyTrac, which released the report.

Overall, foreclosure fillings rose 4.18 percent in August from the previous month, and were down 5.48 percent from a year ago. In all, 338,836 properties were in the foreclosure process. One in 381 U.S. households received a foreclosure notice in August. (Foreclosure notices are defined as a default notice, auction sale notice or bank repossession.)

One in seven Americans is living in poverty, Census shows

By Carol Morello
Washington Post Staff Writer
Thursday, September 16, 2010; 3:08 PM

One in seven Americans is living in poverty, the highest number in the half-century that the government has kept such statistics, the Census Bureau announced Thursday.
Last year was the third consecutive year that the poverty rate climbed, in part because of the recession, rising from 13.2 percent in 2008 to 14.3 percent, or 43.6 million people, last year.
Asians were the only ethnic group whose poverty rate did not change substantially; every other race and Hispanics experienced increases in poverty rates.
In addition, 51 million Americans were uninsured, as the number of people with health insurance dropped from 255 million to less than 254 million -- the first decrease since the government started keeping track in 1987. The number would have been worse because 6.5 million fewer people got insurance through their jobs, but it was offset by a leap in government-backed health insurance. More than 30 percent of Americans now get coverage from the government.

Associated Press monitors CNN since dropping service

By Michael Calderone

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By Michael Calderone michael Calderone – 2 hrs 48 mins ago

 
CNN Worldwide President Jim Walton told staff in June that the network was dropping its contract with the Associated Press and would provide its audience with content that is "distinctive, compelling and, I am proud to say, our own."
But the AP has been closely monitoring CNN's coverage and claims that the network routinely uses the wire service's reporting, according to internal memos obtained by The Upshot. CNN, the memo states, "continues to rely heavily, and apparently systematically, on AP breaking news, exclusive enterprise and in-depth reporting." (You can read the first AP memo here).
CNN, which had a relationship with the AP since the network's founding in 1980, is also now trying to sell its own service, CNN Wire. However, CNN isn't completely alone when it comes to news gathering: The network recently struck a deal with Reuters to supplement its coverage when needed. (Disclosure: Yahoo! News is an AP partner).
"We have not missed any major news story since discontinuing the use of the AP," said CNN spokesman Nigel Pritchard. "This has been a seamless transition for us. CNN is proud of the outstanding and original journalism of recent months, and continues to look to the future, not the past."