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Today on the front page of the SF Chronicle's site is this: 11th District House race has national implications
A section buried at the very end of page 2 has an important juxtaposition:

Bellwether race for state's 11th Congressional District

The race for California's 11th Congressional District pits two-term incumbent Jerry McNerney, D-Pleasanton, against David Harmer of San Ramon. Their views differ sharply, best illustrated by Democratic congressional leaders' proposal to set a moratorium on foreclosures with murky paperwork:

Harmer: "I am sorry to be the bearer of bad news, but people will lose their homes. That's the nature of foreclosure. For everybody who overpaid for a home or can't afford it, there's a young family that's been trying to save to get a home that needs prices to drop. The longer the government tries to shield people from the consequences of the mortgage meltdown, the longer we're going to put off a recovery. Prices need to reach a clearing point."

Shorter Harmer:
The big banks should not be questioned. Please STFU and GTFO of your homes. kthnxbai.

For the other side of that coin, see the stance of the Dem in the race.

McNerney: "Banks should absolutely not be allowed to proceed with foreclosure unless they have the paperwork. What was happening was a disgrace. Some of these big banks took bailout money, they gave each other bonuses, and then they're trying to take advantage of consumers who are hurting. That's absolutely wrong. I'm definitely in favor of a self-imposed moratorium. We ought to look more closely if they're following the rules - and if they're not, they should be punished."


Now I am no expert on mortgages, but from what I have been reading around the interwebs, as well as here from the likes of bobswern and Meteor Blades just last night, these banks are guilty as hell:

Fraudclosure is just the latest eruption.

"No big deal" would probably be their claim had not bank PR departments been trained to deliver sophisticated obfuscations like problem foreclosures are due to technicalities, and there aren't even very many of them.

Keep in mind that this quick calculation applies to foreclosures now underway. The cumulative number is clearly vastly greater.

Vastly greater.  How big a deal is that?


This Fraudclosure scandal ain't over.

But if you believe corporate lawyer David Harmer from Wall Street, it sure sounds like it is over. And that we oughta GET OVER IT.

Seldom has the choice between 2 candidates been clearer. Help this good Dem earn re-election against the most dishonest and extreme wing of the 2010 TGOP. If we can defend seats in PVI R+1 districts like this, the color orange will be reserved for this website, not the Speaker of the House.





contribute-button-Act Blue


My previous diaries about this race:
CA-11: Word gets out that Harmer wants to abolish public schools
CA-11: GOP Challenger: "Abolish Public Schools"
CA-11: Most important House race in the nation

Originally posted to The Laughing Planet on Mon Oct 25, 2010 at 11:14 AM PDT.

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