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California Assembly Passes Foreclosure Reform Bill But More Needed to Protect Future Borrowers from Predatory Loan Practices

[courtesy of California Progress Report]

frankrusso-small.jpg By Frank D. Russo

Legislation that would reform the foreclosure process in California for the benefit of homeowners trying to hold on to their homes passed the Assembly today on a 55 to 18 vote, just one vote above the two-thirds majority it required. Ten Republican Assemblymembers joined 45 of the 48 Democrats in voting for the bill, while all 18 votes against it came from Republicans.

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Today's Fresh Meat

[courtesy of The California Majority Report]

Cutting out the gas tax may actually backfire on consumers, warns the San Diego Union-Tribune.The article also has a brief Q&A explanation of the current highgas prices.

The large number of recalled consumer products last year has prompted Bay Area legislators to push for better regulation. Sen. Carole Migden (D-SF) has introduced the "Toxin-free Toddlers andBabies Act," which would ban bisphenol A from toys and child-careproducts. Sen. Ellen Corbett (D-San Leandro) wants to ban agrease-resistant compound found in pizza boxes that can be carcinogenicwhen ingested.

At least someone's happy about the drawn-out Democratic race: Rush Limbaugh, whose calls to Republicans to side with underdog Clinton may have beensuccessful. "Nobody really knows, of course, how influential Limbaughhas actually been, although the promotional publicity for him and hisprogram has been absolutely priceless. Anecdotal evidence suggests manythousands of Republicans did, in fact, cross over to vote for Clinton,which, frankly, is fine with her. She'll take anybody's vote thesedays."

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Image courtesy LATimes.com  

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