Obama Admin-brokered mortgage settlement ended up helping Scott Walker

[brentspeak]

http://thinkprogress.org/economy/2012/02/10/422744/walker-settlement-budget/?mobile=nc

Gov. Scott Walker To Use Foreclosure Settlement Money To Balance His Budget, Not Help Homeowners

Yesterday, 49 states joined the federal government in announcing a $26 billion settlement with five of the nation’s biggest banks over the banks’ foreclosure fraud abuses: http://thinkprogress.org/economy/2012/02/09/421865/foreclosure-fraud-settlement-numbers/ The money from the settlement is meant to aid homeowners who lost their homes to foreclosure or who find themselves underwater, meaning they owe more on their mortgage than their home is currently worth.

However, Wisconsin Gov. Scott Walker (R) — whose high profile assault on workers’ rights has prompted a recall effort against him — isn’t planning to use the money to help homeowners. Under the terms of the settlement, Wisconsin is set to receive $140 million, $31.6 million of which comes directly to the state government. And Walker is planning to use $25.6 million of that money to help balance his state’s budget: http://www.jsonline.com/business/walker-van-hollen-chunk-of-mortgage-relief-going-to-state-budget-uj45185-139070349.html

snip

A memo from Wisconsin’s Legislative Fiscal Bureau released yesterday notes “it is anticipated that Wisconsin will receive $31.6 million. Based on discussions between the Attorney General and the administration, of the amounts received by the state, $25.6 million will be deposited to the general fund as GPR-Earned in 2011-12, and the remaining $6 million will be retained by the Department of Justice to be allocated at a later date.”

The settlement money that came Wisconsin's way was easily available for Walker to steal, thus helping him artificially reduce Wisconsin's budget deficit in time for him to prevail in the recall vote. And the settlement itself was a Get-out-of-jail-for-pennies deal for the banks who should have faced criminal charges.

[SoutherDem]

1. Scott is a scumbag

Need to go to jail.

[Swede]

2. Still scouring the internet for anything vaguely anti-Obama,I see.

Oh well.

[brentspeak]

3. No need to "scour"; the story is highlighted on a whole bunch of websites

Meanwhile, infantile "I don't hear you!" thumbs-in-the-ears distraction antics don't provide much in the way of cogent responses to an actual and important news story.

[Swede]

4. From six fucking months ago.

You start your day by googling "Obama bad".

[brentspeak]

5. Did Walker win his recall election six months ago?