Consumer Affairs: BBB Favors Big Business - Not Consumer Friendly |
Saturday, 31 October 2015 |
Do dues-paying members get higher grades than non-members? Many people think of the Better Business Bureau as a consumer watchdog, but a report by CNN Money finds the organization has given top ratings to companies that have faced action by government regulators and lawsuits by angry consumers... BBB also notes that it does not identify itself as a consumer watchdog, but rather as a mediator between businesses and consumers. |
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HUD Scandal Deep in the Heart of Texas |
Thursday, 01 October 2015 |
High-Income Texans Find Homes in Public Housing
Deep in the heart of rural, southeast Texas, a family living in public housing meant for low-income families has a total household income of $285,971 a year. In Olney, Texas â near Wichita Falls â a family receiving taxpayer subsidies to pay rent makes $227,709, while another family residing in public housing in Pineland on the eastern edge of the state makes $184,499.
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HUD Sec. Castro - HUD Scandals in San Antonio |
Wednesday, 30 September 2015 |
Obama Nominates Castro In Spite of Texas HUD Scandal
President Barrack Obama nominated San Antonio Mayor Julian Castro to be Secretary of Housing and Urban Development on May 23rd in spite of his cityâs alleged misuse of funds from that same federal department. The Post piled a lot of praise on the back of San Antonioâs youngest ever elected mayor, but completely failed to mention the brewing scandal in San Antonioâs financial relationship with the very department Castro is now nominated to head. |
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HUD Sec. Castro Gives Lip Service to San Antonio HUD Scandals |
Wednesday, 30 September 2015 |
Castro dealing with scandal-laden HUD
When the inspector general for the Department of Housing and Urban Development scolded the federal agency this summer for letting 25,000 âover incomeâ families reside in public housing â more than 1,000 of them in Texas â HUD initially fought back. Castro has challenges ahead, illustrated by a tally presented by Montoya in June: 106 arrests; 133 indictments or charges; and 179 convictions, plea bargains or diversions related to agency programs â in a six-month period.
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HUD FEATURE: 1981 – 2015 HUD’s Hallmark of Federal Policy – 35-Years of Housing Scandal |
Wednesday, 30 September 2015 |
HUD FEATURE: 1981 â 2015 HUDâs Hallmark of Federal Policy â 35-Years of Housing Scandal and Billions in Taxpayer Waste
CATO INSTITUTE - DOWNSIZING THE FEDERAL GOVERNMENT
Cisneros planted another seed for the housing bubble and its subsequent burst by putting Fannie Mae and Freddie Mac under constant pressure to facilitate more lending to "underserved" markets. While Cisneros's own HUD administration acknowledged that mortgages financed by Fannie and Freddie in "underserved" areas have a higher risk of default, it did not see that "there need be any safety and soundness impediment" to the policy. It was under Cisneros's direction that HUD agreed to allow Fannie and Freddie credit toward its "affordable housing" targets by buying subprime mortgages. The recent meltdown in the U.S. housing and financial markets makes it crucially important to understand the distortions created by HUD's programs and the political drivers of its decision-making. HUD policies played an important role in the meltdown, and this essay sheds light on why some of HUD's bad policies were put in place.
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