Here we go again
By Endre Bartanyi
Resident, Del Mar
During the past five years, the government encouraged the mortgage banks to provide financing for house loans to people even though they did not qualify for it. Because they were unable to pay their mortgages, the banks have foreclosed on their homes and thrown them out of their homes. Holding these unpaid mortgages, virtually all the loan institutions and their insurers went bankrupt. The government and also the state of California are in enormous debt. I am sure we are all aware of this.
But here we go again. The Del Mar City Council is pushing the same bankrupt policies as the federal government and their cronies have been pushing. The city is forcing people into debt by levying undergrounding costs on them, against their will. This could lead to a similar disaster we are witnessing daily. When will this stop?
At the Feb. 22 council meeting, speaker after speaker testified that they cannot afford the cost of the undergrounding, yet the council approved the motion anyway. This council showed a total lack of concern to the pleas of these speakers. It is obvious that the council is determined to push through its agenda, no matter what the collateral damage might be.
Will a bank lend today $30,000 to someone who lives on his Social Security without much additional income? Of course not. Yet the council is forcing people into a situation where a delinquency in payment could result in losing their homes.
It is morally reprehensible to force people into debt against their will. The council has this very obligation to all the citizens in Del Mar, no matter how small the minority may be.
- City Council agrees to bank loan to prevent Shores default
- Council OKs more funding for undergrounding projects
- Bank loan prevents Shores default
- Council clears up utility project details
- Sunset decision delayed
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