Even Our Leaders Cannot Manage Their Own Personal Spending

How in the hell can we expect them to handle our business any better if they are so irresponsible as to jeopardize and even lose their own homes to foreclosure proceedings.

It seems a democratic California congresswoman has now been snared by the mortgage crisis but for taking a loan on her home to finance her campaign for the full purchase price of the property! Call me cynical, but anyone able to pull that one off must have a plan for infusion of big money up the road that isn't there to begin with in order to take such a risk as this woman and her bank both did.

I take no pleasure whatsoever seeing any American and their family lose their precious homes under any circumstances but have little if no compassion for those who bite off far more than they can chew, and even less compassion for the criminal bankers of today that allow these people to even get themselves into such predicaments in the first place. Especially the now uncovered magnitude to which the illegals around this country were allowed to purchase homes with so many glaring risks such as the unprovable income and uncertain identity of the applicants involved, it's no wonder the banks are so involved in pushing the amnesty bills and the likes through congress, to Cover their own asses that became so brutally exposed !!

Any dumb a**ed schmuck off the street could tell you that any illegal alien, particularly of the Mexican variety, when faced with mortgage default or even criminal proceedings has an option available to them that most Americans do not have which makes them a much lighter risk and yet they are given loans with twice the scrutiny as the illegals were. .

And that option is obviously to make a run for the border and I don't mean Taco Bell, but a rush in the opposite direction of whence they came, right back to their real homes back in Mexico with their families there, as a result facing no consequences whatsoever as their whole identity and credit history was fake to begin with, so they have nothing to lose by bolting, leaving their credit and criminal messes to be cleaned up by who, we taxpayers of coarse.

Those of us out here who don't have three aliases and another country to escape to whenever things don't work out the way we had planned. Quite an escape hatch as we are mired in bankruptcy, foreclosures, years and years of credit restoration if even possible along with years and years of poverty in most cases as a result of poor decision making or in many cases simple fate of disease or other life changing disasters that occur to almost all of us at one time or another.

So we get hit by them coming and going.

Report: Calif. congresswoman loses house in foreclosure -

On Deadline - USATODAY.com: "The credit crunch is hitting the halls of Congress, with reports from California that a member of the House lost her house in foreclosure earlier this month.

Capitol Weekly reports that Rep. Laura Richardson 'slipped into default' after she 'fell behind on her mortgage payments as she loaned her Congressional campaign $60,000.'

The publication cites tax records that show Richardson took out a $535,000 loan -- covering 100% of the sale price -- when she purchased her pied-à-terre in the state capital about 17 months ago.

By March, the paper says, a 'notice of trustee's sale' indicated that the debt had passed $578,000.'

But in a statement quoted by the Los Angeles Times, Richardson, a Democrat, says 'the residential property in Sacramento California is not in foreclosure and has NOT been seized by the bank.

'I have worked with my lender to complete a loan modification and have renegotiated the terms of the agreement -- with no special provisions,' she says. 'I fully intend to fulfill all financial obligations of this property.'

It may be too late."

The Press-Telegram says the three-bedroom house, which wasn't Richardson's primary residence, sold at auction earlier this month. A real estate broker paid $388,000 for the property, according to the paper.

Richardson earns $169,300 as a member of Congress. She was behind in her Sacramento property taxes by more than $8,000, according to the assessor's office.

"The neighbors are extremely unhappy with her," Sharon Helmar, the previous owner, tells Capitol Weekly. "She didn't mow the lawn or take out the garbage while she was there. We lived there for a long time, 30 years, and we had to hide our heads whenever we came back to the neighborhood."

Unbelievable ? Not so much, as the lawmakers we put in office are now and probably always have been often the most criminal of Americans amongst us.

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