Monday, November 8, 2010

Better Buildings Program: What does a 5 to 1 leverage requirement mean?

Page 106 of 191

Why would "construction" money be used as a Loan Loss Reserve Fund?

Why would the City want to indemnify lenders
from what could be their underwriting deficiencies?

Didn't the US financial system get into a little trouble not long ago
partly because the federal government allowed the financial system
to not have to take responsibility for predatory lending practices
while relaxing lending standards to the point of systemic risk?

If the definition of insanity...

Should the "Local Government Federal Credit Union" be involved?

Should the "Greensboro Municipal Credit Union" be involved?

Who has to bail out the lenders if they don't lend well?

Would taxpayers be guaranteeing the Credit Union's profits if anything goes wrong?

Why is the city only contacting Credit Unions?

Why would the program make unsecured loans to homeowners?

If the $5,000,000 comes from the stimulus plan,
which increased the federal deficit,
which has been borrowed from our children's future income,
how is this not a wealth transfer from most to a few?

How is this not stealing from my kids?

Are there any adults present?

Are the "consultants" going to sell door to door?

Not that there's anything wrong with that,
unless it ends up being a government sponsored fleecing of the poorest side of town
by the local government, with permission from the feds.

Should Jim Kee recuse himself from the vote?

I see the need for our community to become more energy efficient,
but this thing smells funny.

Not funny ha ha, but funny grimace.

No comments: