Taxpayers pay $557 million for odd jobs at foreclosed homes

[koalabear]

The U.S. reportedly has spent $557 million to mow the lawns, paint the walls and fix cabinets for foreclosed homes across the country over the last year. That's small potatoes compared to the $124 billion the housing bailout is said to have cost Americans, but it's a huge bill nonetheless, and one that has led to a lot of fingerpointing. "If the banks aren't willing to work with people to keep their homes, let the banks pay the upkeep," said one commenter, while another called it "just another way our so called government officals are running the average taxpayer into the ground." The well-manicured ground, that is.

http://now.msn.com/money/0410-foreclosure-maintenance.aspx

No wonder killy is missing.

 

[busybody..]

Jobs are odd

Why work

When you can get free money?

 

[Sean Renaud]

That's a sad situation. Oh well though. It's better than the real life alternative which is letting these houses fall to shit.

 

[miles]

The U.S. reportedly has spent $557 million to mow the lawns, paint the walls and fix cabinets for foreclosed homes across the country over the last year. That's small potatoes compared to the $124 billion the housing bailout is said to have cost Americans, but it's a huge bill nonetheless, and one that has led to a lot of fingerpointing. "If the banks aren't willing to work with people to keep their homes, let the banks pay the upkeep," said one commenter, while another called it "just another way our so called government officals are running the average taxpayer into the ground." The well-manicured ground, that is.

http://now.msn.com/money/0410-foreclosure-maintenance.aspx

No wonder killy is missing.

Green jobs no doubt.

 

[chillywilly2]

That's a sad situation. Oh well though. It's better than the real life alternative which is letting these houses fall to shit.

Let them fall down...then it will make real work to rebuild them when they are needed

 

[koalabear]

Let them fall down...then it will make real work to rebuild them when they are needed

KS needs the lawn work.

 

[unregistered]

 

[eyer]

How many trillions of $$ has government lost in reckless loans that millions of taxpayers told them before they made them were not only terribly risky, but quite possibly unconstitutional, too?

Yet, being dictatorial government, they ignored their bosses' input and went ahead and forcibly pulled even more than the original balances out of hardworking citizen pockets...

...and then lost it all and come right back to forcibly take more.

Today, the feds announced they're going after Jim McMahon and 6 other former board members and 2 former officers of a now defunct bank, claiming reckless lending practices led to the bank's demise and left the FDIC on the hook for $104 million.

Obviously using his fame against him to garner more interest for their case, the feds complain of McMahon specifically:

"As a member of the Board, McMahon approved the $28 million loan to Normandy Shores, LLC, which caused over $19 million in losses to the Bank. Despite his Board responsibilities, McMahon repeatedly missed critical Board meetings."

The feds, besides the $104 million plus interest they are demanding, also seem to be out for blood "for gross negligence, breach of fiduciary duty, and negligence."

Even though I understand the axiom of charge high, negotiate somewhere lower, I have absolutely no issue with McMahon and the other bank principles being held fully responsible for their actions...

...but on the actual scale of criminality, this is like Al friggin' Capone charging Three-eyed Louie with being a petty thief.

Oh my, oh my...

...where have all the Eliot Nesses gone.

http://www.courthousenews.com/2012/04/10/45490.htm

 

[Sean Renaud]

You kidding, knowing the government and it's allocation of resources those houses are probably scheduled to be torn down right after they get done cutting the fucking grass.

Which is a shame. Kids like breaking shit enough that all they'd need to do tear down entire neighborhoods is have the police go out and tell the kids they don't won't bother them while they wreck the place. Hell I'm not even a kid and I have a sledge hammer that's never gotten to have any fun.

 

[JAMESBJOHNSON]

You kidding, knowing the government and it's allocation of resources those houses are probably scheduled to be torn down right after they get done cutting the fucking grass.

Its how they do it in Britain. The government paints, repairs, and landscapes just before it razes public housing.