Big banks have ended their moratoriums, and home foreclosures are on the rise— as the President’s “homeowner rescue” plan is just kicking in. Also, Californians don’t want more oil drilling off the coast. What about windmills? Whatever happened to spending limits on state campaigns? And what’s the legacy of Esa-Pekka Salonen?
FROM THIS EPISODE
Fannie Mae, Freddie Mac and a lot of big mortgage banks have quietly ended their moratoriums on home foreclosures. The foreclosure listing firm Realty Trac reports today that the number of households threatened with losing their homes jumped 24% in the first three months of this year.
California’s next election is exactly a month away, featuring six propositions on state finance. Interest groups on all sides will be doing a lot of spending. In 2000, voters passed Prop 34 to limit the influence of money, but it hasn’t worked out that way. Campaigns for candidates and ballot measures have raised more than one billion dollars in the past 8 years—344,000 dollars a day…14,000 dollars an hour…24/7…365 days a year. hat’s according to a report called “The Billion-Dollar Money Train,” issued by the state’s Fair Political Practices Commission.
Ross Johnson, Chairman, California Fair Political Practices Commission
In San Francisco today, Interior Secretary Ken Salazar has been chairing a hearing on oil drilling off the shores of California. The Bush Administration left behind a proposal to offer 44 million acres off the coasts of Mendocino and Humboldt counties up north and 89 million acres of the counties of San Diego, Ventura, Santa Barbara and San Luis Obispo.