Tuesday, October 28, 2008

WASHINGTON (AP)- Each day from July through September, more than 2,700 Americans lost their homes in foreclosure. That number, up from 1,200 a day a year ago, is a sign that the mortgage industry and government programs have done little to help troubled homeowners. The mortgage market's troubles have proved to be far more serious and intractable than most in government or the private sector had predicted a year ago. Foreclosures have more than doubled over the past year, home prices fall 25% in Miami in ONE MONTH, unemployment is at 5 year highs- how much more will it take for the Mayor and Council to realize that WE, and the country, are is serious financial straits? Yet the go on their merry way, spending 500k or more on two bathrooms, losing 300k at the pool, spending 120k on a jitney that nobody rides- how long can they remain comatose? Oblivious? Incredibly wasteful? Dump them all, except for Dotson, before they drive us to the poorhouse. NOBODY can be THAT stupid ALL the time, can they? Is it more the ridiculously unresponsive and poor management by the City Manager OR is it the Mayors and Councils NO OVERSIGHT, blank check, rubber-stamp policies that are responsible? One financial fiasco after another, the result of constant mismanagement and cost overruns in EACH and EVERY project the City Manager is associated with, and NO oversight. When was the last time a project of his came in on budget and on time? EVER? The evidence speaks for itself.

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