[courtesy of California Progress Report]

Many Provisions Take Effect Immediately—More Action on Predatory Lending Needed as Loan Modifications Increase in State

By Frank D. Russo

Yesterday was a busy news day for homeowners with failing subprime mortgages. The legislature, the Department of Corporations, and consumer groups were all out in front with newsworthy items.

The California Senate sent Senator Don Perata's foreclosure legislation (SB 1137), coauthored by Assembly Speaker Karen Bass and other Democrats, to Governor Schwarzenegger on a 32-8 vote with all Democrats in support, joined by 7 Senate Republicans. All eight votes in the Senate against it were cast by Republicans.

by Brian Leubitz [courtesy of Calitics - Front Page]

[courtesy of California Progress Report]

By Fabian Nunez
Speaker Emeritus of the California Assembly

[courtesy of The California Majority Report]

Senate Republicans are blocking a proposal to tax oil companies. "Americans are furious about what's going on," said Senator Byron Dorgan (D-ND).

High oil prices aren't just hurting consumers. Gas station ownersare feeling the pressure as well, as expences rise too rapidly for themto keep up. "The reality is these guys are being stressed to thelimit," said Ben Brockwell of the Oil Price Information Service.

And with the economy in disarray and unemployment on the rise, President Bush is planning his final trip to Europe. Time for another vacation?

Image courtesy latimes.com
 

[courtesy of California Progress Report]

More Than Enough Voters Wrote in a Name in the 15th Senatorial District—But Did They Vote For Democrat Dennis Morris?

By Frank D. Russo

Votes are still being counted in a number of races across the state and in some of the closer ones, the outcome will not be known for sure until all straggling ballots are cast.

But in the 15th Senate District race which stretches across 5 counties on the California Central Coast, which could determine if Democrats get an important two-thirds majority in that house, the result will depend on whether enough Democrats have written in the name Dennis Morris. It is a district where the incumbent, Republican State Senator Abel Maldonado is the most vulnerable of all the Senate Republicans running this year. Democratic registration has been surging in this district and there is not a 40.5% to 36.2% edge they have over Republicans—the highest of any seat not in Democratic hands.

by David Dayen [courtesy of Calitics - Front Page]

[courtesy of California Progress Report]

Same Play as Last Year: No Respect for Laws Passed by the Majority and Supported by Californians—Only This Year, They’re Also Picking on Workers

By Frank D. Russo

Republican State Senators held a press conference last week and demanded that California delay implementation of AB 32—our landmark global warming law—and that other changes be made to our state’s overtime law, a progressive reform enacted decades ago. This is like a bad dream. And it could not come at a worse time than now, where there is a need to pass a budget on time or California will face irreparable harm to its creditworthiness and increased costs in borrowing.

Last year, the state budget was held up by this band of 15 because they wanted to deny California Attorney General Jerry Brown the funds to enforce California’s basic environmental law—signed by Ronald Reagan when he was governor—the California Environmental Quality Assurance law known as “CEQA.” They had egg on their face, came out on the short end of the stick and were blamed by California voters for their obstructionism. And they were thwarted.