Talking more about poor use of taxes in NC...The $25 BILLION Mortgage Settlement Fund

You might recall that Federal and state officials reached a $25 billion settlement with five big banks in February over abuses in their mortgage and foreclosure processes. A report from Enterprise Community Partners, a national affordable housing group, has found that many states are diverting the money to other purposes. The NY Times reported yesterday on how those monies are being spent. North Carolina received $60+ Million dollars...supposedly to be spent to provide mortgage relief to the affected homeowners. Well....guess what...along with a lot of other states this money isn't going where it would do the most good in NC. Some of it is being diverted into the General Fund to be pissed away..and a lot more (in NC) is going to be spent doing things that will likely accomplish nothing. Almost $20 Million goes to "Housing Counselors" and another %11.5 Million to legal service providers...$6.69 Mil to the Conference of District Attorneys in NC...$8.6 Mil to the General Fund and so on. You can read it in the NY TIMES LINK . Scroll down to NC...and read for yourself. Then browse around to read how the monies were supposed to be used. Numerous links...

When all is said and done this will be $60 Mil flushed down the toilet of bureaucracy and political back-scratching.

We are 13th in State and Local Income tax collections per capita... Other examples...only Virginia, Washington and Oregon charge more in "spirits taxes" (NC = almost $14/gallon). Our "table wine" tax is the highest in the nation...(8X New York for example) and the list goes on and on. Let's face it...the NC Statehouse is home to a bunch of bungling fools who can't find their own asses with both hands...but sure know how to find our pocketbook.

Want more $$$ for teachers? Stop buying $Million basketball / gym floors and funding expensive sports programs. Pay to teach people what they need to learn to survive and prosper in real life.

Comments

why would you think legal

why would you think legal service providers would be unneeded? You expect mortgages to be reformed and titles to be rewritten by mechanics?