Did Laura Richardson (D-CA) Abstain on the Mortgage Bailout Vote?

By Erick Posted in | | | | — Comments (19) / Email this page » / Leave a comment »

ImageLaura Richardson is a California Congresswoman. She's also one of the many reasons the housing industry is collapsing. Congresswoman Richardson, you see, is one of those homeowners who got into a house with no money down and then walked away from her mortgage.

From the Los Angeles Times:

Capitol Weekly reports that newly elected California Congresswoman Laura Richardson walked away from the mortgage on her $535,000 Sacramento home, letting the house slip into foreclosure and disrepair less than two years after she bought it with no money down.

"While being elevated to Congress in a 2007 special election, Richardson apparently stopped making payments on her new Sacramento home, and eventually walked away from it, leaving nearly $600,000 in unpaid loans and fees," the publication reports.

Hey, if you own stock in Washington Mutual, Richardson is screwing you. But on a serious note, did she abstain from voting on the mortgage bailout bill? Will she be able to take advantage of the bill for personal gain?

And ain't this just typical of a Democrat. They buy a house and let it fall apart. Just like they're doing in Congress and to the troops -- just walking away.

Laura Richardson: metaphor for Democrat control.

UPDATE: She did not vote. So, that opens up more questions. Does she now intend to take advantage of the bailout? Did she advocate that others in her caucus vote for it. If so, did she tell them it'd financially benefit her?

Did Laura Richardson (D-CA) Abstain on the Mortgage Bailout Vote? 19 Comments (0 topical, 19 editorial, 0 hidden) Post a comment »
Excellent post (nt) by Neil Stevens

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Reply To This — User Info — #1
It is quite the apt metaphor. by simpson316

Irresponsibility breeds irresponsibility.


Now also found at The Minority Report

Reply To This — User Info — #2
Amazing....they have absolutely no shame.....n/t by aaronbg

"Land of the Free and Home of da Whopper" Peter Griffin...Family Guy

conform and celebrate diversity....or else!!!

Reply To This — User Info — #3
Hi Erick. You say "walking away" I say she "aborted it". by Tim Schieferecke

That is their modus liberandi. Unwanted mortgage? Abort it. War not going well that you signed on for? Cut and run, abort mission. Unplanned pregnancy? Abort it! Why can't people see that what the Ds stand for is shallow, meaningless and dangerous. I simply can't understand how the party of Madame Nancy and Darth Reid is supposed to win all these seats in November. It's beyond comprehension.
Tim Schieferecke

Reply To This — User Info — #4
5. by Erick

Fight On!

Reply To This — User Info — #5
Please Tim.... by aaronbg

Don't upgrade Harry Reid to Sith Lord status maybe he can be the guy who powered up the Death Star but Sith Lord, I mean come on let's not be silly....;^)

"Land of the Free and Home of da Whopper" Peter Griffin...Family Guy

conform and celebrate diversity....or else!!!

Reply To This — User Info — #6
You've got a good point Aaron, but you've got to admit, he does by Tim Schieferecke

look like Darth Sidius. Maybe he's Darth Sidius's beefeater? Queen Amidala had a look alike.
Tim Schieferecke

Reply To This — User Info — #7
Dang Tim now I have to rethink my entire Star Wars universe ;^ ) by aaronbg

"Land of the Free and Home of da Whopper" Peter Griffin...Family Guy

conform and celebrate diversity....or else!!!

Reply To This — User Info — #8
There was a day when foreclosure, bankruptcy by M Penny

being a deadbeat carried shame.

Why during the background check for my government employment did I have to explain the unpaid $23 cable bill on my credit report. The bill was not unpaid -- it was an accounting error.

All the same I had to come up with the documentation from the the cable company that I did not owe any money. I also had to get a letter from the collection agency that the collection was an error.

M Penny

Reply To This — User Info — #9
That would have been the same day when unmarried pregnant by Jaded

women felt embarrassment or abortion was not hailed as birth control...nothing left in this country to feel "shameful" about...whatever feels good dontcha know.

Freedom of Religion NOT Freedom from Religion

Reply To This — User Info — #10
Can you died from shaking your head is disgust? by M Penny

If I live much longer I will need a neck brace --- my disgust with people grows every day. Especially women -- I'd like to slap the brains back into functioning on so many of the women I see out these days.

I came of age in the 70's and was single for most of the 80's -- and I did more than my share of stupid and even life damaging things -- but I still had some values.

M Penny

Reply To This — User Info — #11
I might swallow a lot of by Jay_Cee

I might swallow a lot of shame if it would dig me out of a $200K hole.

I don't get very romantic about the whole notion of "home ownership" (the romance is what congress is using to justify this disaster of a bailout bill). The buyer and bank made a simple deal: if the buyer stops making payments, the bank gets the house.

Maybe in hindsight the banks didn't make a very good deal, but that's life and I'm not going to judge anyone harshly for making a smart financial decision.

Reply To This — User Info — #12
Why didn't she short sale it back. by M Penny

M Penny

Reply To This — User Info — #13
What's the difference? In by Jay_Cee

What's the difference? In both cases the buyer loses the house and the bank takes a loss.

From what I've read, the banks make short sales very very difficult (largely because they aren't set up to handle them).

Reply To This — User Info — #14
Exactly by AnthonyW3

The Borrower loses the house, and the Bank/Investor theoretically will take a loss as a penalty for making a stupid credit decision. A new buyer will take over the house at a better price, and will be a potentially better customer for a new lender. Pretty simple, I don't see where the government needs to get involved.

Reply To This — User Info — #15
In all but a very few cases, by Flagstaff

In all but a very few cases, the government doesn't need to get involved. And, by definition, if the government is applying itself to only "a very few cases," it shouldn't be doing that, either.

Democrats: Abandoning Allies, One Country at a Time.

Reply To This — User Info — #16
Whaddaya wanna bet that she by Flagstaff

Whaddaya wanna bet that she got a "minority" loan?

Democrats: Abandoning Allies, One Country at a Time.

Reply To This — User Info — #17
Aside from by SteveLA

Flagstaff

Aside from your obvious poke at race, yes she probably did, but not what you think.

She was at the time of the loan a California Assembly member. You think she got preferential treatment? Does a bear go potty in the woods?

______________________________________
Proud member of the Barry Goldwater wing of the party !

Reply To This — User Info — #18
Richardson? by BigGator5

The Richardson Family Motto: "Virtute acquiritur honos"

I am ashame for all Richardsons everywhere...

Join The Revolution!
BigGator5.net
John McCain for 2008!

Reply To This — User Info — #19


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