Cardoza, dumber than a derivative?

Scrooge McMoney-Power takes credit for Christams break on some foreclosures in his district

Statement from Congressman Cardoza on Freddie and Fannie holiday moratorium‏
From:  Dennis Cardoza (dennis.cardoza@congressnewsletter.net [1]) 
Sent: Fri 11/21/08 11:47 AM

WASHINGTON, DC – Congressman Dennis Cardoza expressed his appreciation today that Freddie Mac and Fannie Mae had enacted a temporary moratorium on foreclosures.

“Obviously this is not a silver bullet or any kind of long-term fix to the housing crisis,” Congressman Cardoza said. “However, this does seem to present a good opportunity to help some homeowners work out their troubled mortgages and remain in their homes. More importantly, it serves as a bridge until the Obama administration is in place and can enact policies to help homeowners who find themselves in these very difficult situations.”

It was reported Friday that Freddie Mac and Fannie Mae would suspend home foreclosures between November 26 and January 9. During that period it is hoped that many troubled mortgages can be adjusted. Congressman Cardoza had requested similar action in a letter written to the chief executive officers of the two entities in September.
------------------------

Open Secrets
Rep. Dennis Cardoza, D-CA
http://www.opensecrets.org/politicians/summary.php?cid=N00024874 [2]

2007-2008 Campaign cycle

Raised: $967,837
Spent: $870,864
Cash on hand: $303,724
Last report: Oct. 15, 2008

What does a congressman running unopposed need with nearly $1 million?

Aside from the $128,800 he picked up agricultural landowners, Cardoza received:

Finance, insurance and real estate: $113,000
Miscl. business: $71,000
Lawyers and lobbyists: $51,000

In fact, one could not imagine a worse time in the year to work out any business, mortgage foreclosure or otherwise. So, the government's stocking stuffer is worth about three walnuts and a tangerine.

We don't expect much of Cardoza and he has fully satisfied our low expectations. But, this constant stream of saccharine hypocrisy should offend his constituents in the highest foreclosure-rate district in the nation, which gives Cardoza's district an international reputation for financial fraud.

We just cannot imagine that these financial transactions between PACs and lobbyists and lawyers and Cardoza take place in complete silence -- anymore than such transactions took place in previous campaign cycles. If Cardoza didn't know what was coming sooner than the witless victims of securitized subprime mortgages from his finance, insurance and real estate constributors, he's dumber than a derivative that didn't factor in the end of the bubble.

Cardoza didn't say a word about what came down here, bound to make our areas one of the hardest hit in what economists are calling worst recession in 30 years or worse. His congressional district was at the epicenter of the fraud that has now expanded throughout the globe. He was there, knew the players, saw the play and said and did nothing to protest against it on behalf of hapless constituents.

He was too busy thinking about himself, his political future, working his way up the Blue Dog chain of command. Constituents of the 18th CD of California should be hoping that CHANGE means that the Blue Dogs, formed by Dixiecrats when Newt Gingritch was elected House speaker, to show that some Democrats don't have any traces of New Deal, New Frontier or Great Society thinking left in them, will end up being a political gibbet for the Atwater boy with the Annapolis address, who lists $1,700 in winnings from Olympia Casino, Estonia, in his financial reports. How does he account the gambling losses?

 "A merry Christmas, Bob," said Scrooge, with an earnestness that could not be mistaken, as he clapped him on the back.  "A merrier Christmas, Bob, my good fellow, than I have given you for many a year.  I'll raise your salary, and endeavour to assist your struggling family, and we will discuss your affairs this very afternoon, over a Christmas bowl of smoking bishop, Bob.  Make up the fires, and buy another coal-scuttle before you dot another i, Bob Cratchit!"

Scrooge was better than his word.  He did it all, and infinitely more; and to Tiny Tim, who did not die, he was a second father.  He became as good a friend, as good a master, and as good a man, as the good old city knew, or any other good old city, town, or borough, in the good old world.  Some people laughed to see the alteration in him, but he let them laugh, and little heeded them; for he was wise enough to know that nothing ever happened on this globe, for good, at which some people did not have their fill of laughter in the outset; and knowing that such as these would be blind anyway, he thought it quite as well that they should wrinkle up their eyes in grins, as have the malady in less attractive forms.  His own heart laughed: and that was quite enough for him.

He had no further intercourse with Spirits, but lived upon the Total Abstinence Principle, ever afterwards; and it was always said of him, that he knew how to keep Christmas well, if any man alive possessed the knowledge.  May that be truly said of us, and all of us!  And so, as Tiny Tim observed, God Bless Us, Every One!

-- Charles Dickens, A Chrismas Carol(1843)