Summary of News Events this Week by Mark Young

Most Recommended Stories
Sun. April 8, 2007
1. Judge acts to deliver aid as well as justice
2. Police chief an asset to Salem
3. Another View: on the 200th anniversary of the abolition of the slave trade
4. Returning military members deserve better
5. Bill would expand time limit on medication lawsuit
6. Meaning of Easter doesn't fit in one basket

To peruse these Most Recommended Stories or the complete version of the articles which I have posted please use the internet link provided in the "Links" section of this blog. Thank you.

With this week’s chapter dealing with “urban displacement”, I thought that the possible home foreclosures of several million Americans to be relevant. I first became aware of “sub prime” lending practices by mortgage companies about six months ago, but very little has been mentioned in the news. You would think that the potential displacement of millions of families across America would be more newsworthy but apparently not.
As the article below states, last year “one in every 92 households” in America was foreclosed on. This number will most certainly increase in the very near future as 20 of the 25 major sub prime lenders in America have closed their doors. One article I read in my research named El Paso as the number one city in America where lenders used this form of mortgaging. These companies took advantage of the lack of knowledge that these working families had in regards to financing. The big winner here will be the banks that foreclose on these property loans. They will benefit not only from any increase in property value but any decrease in what is owed on the property through mortgage payments. This is just another example of how these financial institutions can control the housing market and displace the working class while increasing their profits.
I noticed that Sen. Sherwood of Oregon stated that it’s not the states role to “protect people from being stupid”. While this may be true, it is the state’s role to combat business practices that destroy his constituent’s lives! I hope that voters take notice of his comments and end his political career next election time! The other article on “Measure 37” deals with an issue that I have covered in earlier postings. Eminent domain backing politicians must make sure that just compensation is made by any real estate developers if they force people to move from their property. The rally mentioned in the article is being made to make this point. Too often across America, we have seen the government side with big business against our fellow citizens. These politicians need to be held accountable for their actions. No one should be forced from their land to make way for a new “Wal-Mart”, etc. There is a reason for the amendments to the constitution and this is one of them. The pursuit of happiness directly correlates to obtaining the “American Dream” which usually includes a piece of land. As major corporations continue to increase their stranglehold of power across America, I believe that the slumbering “Silent Majority” may soon wake up to this fact and remain silent no longer.
Well at least I can hope! Sincerely, Mark.