11/17/09

Was Guv Right to Veto Home Foreclosure Bill?

Governor Carcieri quietly vetoed legislation passed by the legislature in its whirlwind two-day session last month that would have extended the safeguard provisions enacted in the City of Providence to struggling homeowners and renters statewide. (more...)
The Providence ordinance calls for a slowdown in the foreclosure process to give homeowners more time in avoiding - or hopefully preventing - foreclosure. There's a lot of evidence out there right now to demonstrate that putting people out of their homes and apartments is detrimental in a lot of ways.

Carcieri reasoned that the legislation was injurious to the other side of the issue: banks, finance companies and landlords who have a contractual right to have their clients pay their monthly obligations. That's a defensible position.

The General Assembly can override the Governor's veto when it returns to session in January. But will it do so? And should it do so?

5 comments:

  1. Yes, the GA will override the governor's veto and well it should. The governor, whom I believe is an incompetent fool on so many levels, is a tool of big business. We got stuck with the man back in 2003 because Myrth Yorke was a poor choice as the Democrat nominee. Even I voted for Carcieri in 2002 and have regretted it ever since. I did not vote to reelect him in 2006. Don't get me wrong. The leadership of the GA is equally incompetent. I don't play favorites. They all need to go.

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  2. I wish the General Assembly would follow the path made by the Governor. As a state and a nation we are at a economic tipping point. The money just isn't there, the debt keeps getting bigger with no possible way to pay it back. I am sick and tired of bailouts for certain groups (both rich and poor), failure is a part of life. All Americans are guilty of wasteful spending, we need frugality, honesty, and common sense to endure these difficult times. The governement is not the solution to the problems of this nation, we need to look within each of us and do what is right and just. LIVE WITHIN YOUR MEANS !!!!

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  3. Lost of people are losing their homes and, yes, some are at fault for the situation they're in. Others are caught with a job loss or a medical issue that has bankrupted them, so I don't agree with the above comment though I understand the sentiment. Foreclosed homes don't do much for anyone - banks that have to sell at a loss, displaced homeowners who become a public burden, neighboring homes that lose value and communities that lose property tax revenues. Our millionaire Governor, who owns several homes in two states, is insensitive to the plight of those Rhode Islanders caught up in circumstances of a historical nature.

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  4. THOS GOVERNOR, AND HIS VERY FUZZY-LOGIC, IS BECOMING MORE AND MORE, WITH EVERY PASSING DAY, TOTALLY USELESS...AND TRUTH BE KNOWN A MISTAKE THAT HAS HAPPENED!

    IT WOULD APPEAR THAT, AS HAS BEEN THE CASE WITH A LOT OF HIS APPOINTMENTS, ESPECIALLY THE ABSOLUTELY USELESS, LACKING OF ANY PERSONALITY WHAT-SO-EVER, BEVERLY NAZARIAN, THAT ELECTING HIM WAS MISTAKE.... AND ANY AND ALL DICISIONS ALWAYS SEEM TO GO TOWARDS (FOR) HIS FORMER BANKING BUDDIES???

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  5. I agree with the Governor because I believe that a contract is a contract. The government should not be allowed to step in a break a contract between two private parties at its whim and will. While I feel badly for those who have lost, or are losing, their homes, what is gained by prolonging their agony? All you're doing is stretching the banks' available cash too thin,resulting in fewer loans to people who CAN afford to pay.

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