October 5 roundup

by Walter Olson on October 5, 2010

{ 3 comments }

1 No Name Guy 10.05.10 at 10:57 am

Buy what authority in law does Blumenthal claim the right to halt all foreclosures in Connecticut? Where in the terms of the contract / mortgage / deed of trust is this power vested in him? By what law passed when?

Not only will I never buy a bond from a company with a large, politically powerful union workforce (ref how the bondholders at GM were screwed), I will never now lend on real estate in Connecticut, nor should anyone with 4 or more working brain cells.

Not to mention the fact that he’s slowing down the needed clearing out of the bad debt in the local market. Way to drag out the pain Blumenthal, you fool.

2 Stephen Smith 10.05.10 at 12:41 pm

I’m the author of the streetcar article – thanks for posting it! But I wouldn’t say that it’s a myth that the systems were sabotaged; it’s just that the saboteurs were Progressives and New Dealers, not auto companies.

3 Robert 10.06.10 at 1:12 am

This is outrageous. By stopping foreclosures, they’re keeping homes at more affordable prices off the market. Honest people who chose not to borrow more money than they could afford are being punished.

Will these people be taxed on the impute income of the rent while they’re living in their free houses?

As a Business Owner (S-Corp) I have to spend hours each day calculating my tax liability for all sorts of income. At the same time, our government throws hundreds of billions of dollars in handouts–including foreclosure delays–to the middle class and makes the 5% of Americans who are productive pay for it.

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