California accused of unlawfully diverting money intended for home owners to cover deficit spending
Thomas Lifson:
California has a spending problem that should not be solved by taking money from those lawfully entitled to it. It spends too much on liberal programs and starves infrastructure spending and in this case, diverts money from those that were supposed to get it.What if the bluest state in the country stole a third of a billion dollars from victims of chicanery and the media refused to notice?I have been stunned at the lack of media coverage of California's foiled robbery of almost a third of a billion dollars. That's right: under Governor Jerry Brown, the Great State of California helped itself to hundreds of millions of dollars – money that was supposed to go to home-owners – and you probably didn't hear about it.Bib Egelko of the San Francisco Chronicle was one of the few to cover this story, and it did not exactly generate nationwide headlines for some reason:...When California received $410 million in 2012 as part of a nationwide settlement with major banks accused of abusive foreclosures, Gov. Jerry Brown used $331 million to pay state agencies in housing and other programs to cover their deficits.Now a state appeals court has ordered the money be used for its original intent: to help homeowners who suffered foreclosures....
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