Good way to kill mortgage lending in NJ

From the Observer:

Murphy Goes Anti-Wall Street With Foreclosure Proposal

The leading candidate in New Jersey’s gubernatorial race proposed having Wall Street banks pay for the conversion of foreclosed homes into affordable housing with millions of dollars in federal mortgage settlement funds Wednesday. Former Goldman Sachs executive and one-time U.S. Ambassador to Germany Phil Murphy said “Wall Street created the foreclosure crisis, they need to be held responsible for fixing it.”

The move could be an attempt to head off criticisms of his own Wall Street background, which has drawn harsh criticism from primary rival and progressive assemblyman John Wisniewski and unfavorable comparisons to former governor Jon Corzine in some New Jersey political circles.

“Making Wall Street pay with the billions they gave up for causing the housing crash would not only ensure fairness for New Jersey’s families, but be a measure of justice for their role in creating this crisis that has left our state pockmarked with empty homes,” Murphy said, adding that he is “mystified that Governor Christie had failed to fight for New Jersey’s share of the funds.”

This entry was posted in Foreclosures, New Jersey Real Estate, Politics. Bookmark the permalink.

81 Responses to Good way to kill mortgage lending in NJ

  1. Juice Box says:

    Fire up the bulldozers!

  2. D-FENS says:

    Murphy = Mr. Burns from the Simpsons.

  3. Grim says:

    I’m sure the lawyers would have a field day with this, as it seems a massive property rights issue.

    Not to mention the fact, banks don’t actually need to foreclose in lien theory states, they can let abandoned houses rot and go after borrowers with deficiency judgements instead.

  4. Grim says:

    Or pay property taxes, water bills, gas bills, etc etc.

  5. D-FENS says:

    Murphy’s handlers have him roll up his sleeves, loosen his tie and put his foot on a chair every photo or advertisement. Really helps shed his Goldman Sachs image and makes him seem like one of us eh?

  6. Grab them by the puzzy says:

    @PaulKrugman

    Still drinking my second cup of coffee,
    and already news about grotesque malfeasance on Russia,
    health care,
    Trump business.

    Overwhelmed

  7. D-FENS says:

    To me, a tweet like that from Krugman means we are on the right track. We would do well if we did the opposite of what he says.

  8. Fast Eddie says:

    ExPat,

    Liberal Dictionary.

    Multi-culturalism: A system of living where we all die together at the hands of Islamic terrorists.

    Excellent!

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  10. chicagofinance says:

    STATEWIDE – The New Jersey Business and Industry Association reports that millennials are fleeing the state at the highest rate of any generation, prompting a daylong conference on Tuesday on what the heck to do about it. The state can do absolutely nothing, and just figure they’ll all be begging to come back. Or, as the intrepid NJSpotlight suggests, we can make our public universities more affordable, build housing that millennials can actually afford, somehow control our property taxes or gentrify more of our aging cities. Or, we can just wait until Manhattan and Philly real estate is so outrageous that millennials have absolutely no choice but to grudgingly cross over the rivers. New state slogan: “New Jersey: There’s No Other Option, Pal.”

  11. Tywin says:

    Glad to see our laws finally enforced. It’s sad that’s become such a radical concept.

    “What do I not understand? help me please……”
    http://www.nydailynews.com/new-york/queens/queens-bakery-staff-show-u-s-legally-lose-job-article-1.3005092

  12. Steamy Cankles Foundation says:

    Didn’t the left go completely crazy when Trump claimed it might have been Jews who were making those calls to the JCCs? He was right!!! Unhinged.

  13. Bystander says:

    Chi,

    The law is the law but small businesses are going to get destroyed, not to mention I would not want to live around illegals who suddenly have their small income ripped away. Desperation often leads to crime. Just sayin.

  14. Steamy Cankles Foundation says:

    It’s gonna start to get hard to get into the Home Depot Parking lot. Ay de mi!

  15. D-FENS says:

    Murphy and Guadagno in a tweet war of words…

    @KimGuadagnoNJ

    Kim Guadagno Retweeted NJ.com
    Really @PhilMurphyNJ? Letting Goldman Sachs fix the foreclosure crisis would be like trusting a fox to guard the hen house after robbing it!

  16. D-FENS says:

    Do you guys think Guadagno reads the blog?

  17. Steamy Cankles Foundation says:

    I just hope Guantanamo doesn’t read the blog.

  18. Tywin says:

    A business relying on criminal activity to stay in business, while at the same time displacing American workers, should to go under. Good riddance.

    As for the “desperate” law breakers, self deportation is the solution to their problem. The income of foreign nationals is not a concern for US citizens.

    “The law is the law but small businesses are going to get destroyed, not to mention I would not want to live around illegals who suddenly have their small income ripped away. Desperation often leads to crime. Just sayin.”

  19. 3b says:

    Millenials fleeing the state? Trash article. Pumps will set you guys straight.

  20. Steamy Cankles Foundation says:

    Looks like we have already reached the inflection point where House Republicans are beginning to bail on the president. That didn’t take long.

  21. Grab them by the puzzy says:

    @pourmecoffee

    Long sleepless night in store for Paul Ryan
    going over and over again in his mind what slide he should have included in his Powerpoint deck.

  22. Bystander says:

    Tywin,

    Agreed, a new day is upon us. Fellow Americans, time to mow your own, cut your own trees, fix your own home, watch your own damn children, clean your own home and cook your own food. That or or prepare to pay through the nose. Also, to all businesses, white people are going to need a big raise to pay for all the legit American laborers.

  23. Steamy Cankles Foundation says:

    That’s what passes for funny simpleton?

  24. Steamy Cankles Foundation says:

    I get it now. If it’s white people, we must fight for a living wage. Mexican’s? Don’t mess with my housecleaner’s minimum wage.

  25. Comrade Nom Deplume, The GOAT says:

    Steamy

    “Didn’t the left go completely crazy when Trump claimed it might have been Jews who were making those calls to the JCCs? He was right!!! ”

    I don’t recall that but my liberal Jewish friends came completely unhinged when I suggested that a completely unrelated stunt by a waiter was an example of anti-Trump hate-hoaxing. They took that as a suggestion by attenuation that the JCC and cemetery stuff might be something other than white supremacists and just went off on me. One, a longtime friend, unfollowed me over it.

    Today they are nowhere seen on social.

  26. Grab them by the puzzy says:

    @AoDespair
    Be thankful how few of these fukcers seem to have a work ethic.

    @jamespmanley
    The idea that Jared kushner is supposedly a top wh aide
    and yet is in aspen this week is amazeballs and an insult to staffers everywhere

  27. Steamy Cankles Foundation says:

    I always assumed those bomb threats was either a stupid kid (not really anti-Semitic) or the left. It appears it was both.

  28. Steamy Cankles Foundation says:

    I think I got this all figured out. The reason the bash Trump strategy is unparalleled by the current Left is because the pundits realize that making America Great again is so uncontroversial. If there’s really nothing to report on, which is currently the case. Then, they just have to make sh1t up. Like that Rachel Maddow, Trump tax form reveal. Raised anti-Semitic threats? Trumps fault. Russian’s controlling the election? Sure makes for a nice excuse. Unhinged may be a compliment.

  29. Bystander says:

    Steam 4:37,

    Yes, you’ve heard of NIMBY? Prepare for the NWMOTH fight…Not With My Own Two Hands!

  30. Grab them by the puzzy says:

    @GlennThrush

    Name a time in American history
    — even during Watergate —
    when the executive branch was this dysfunctional,
    feral and
    fragile.
    I can’t.

  31. SteamTurd, reminiscing about Cankles says:

    Drain the swamp and you get inexperience. That’s fine. They’ll figure it out.

  32. Newbomb Turk says:

    They’ll finger it out….

  33. Comrade Nom Deplume, The GOAT says:

    Yet another hate hoax exposed. And this one is funny in its tragedy

    http://news10.com/2017/03/20/jewish-man-accused-of-spray-painting-swastikas-on-his-own-home/

  34. Grab them by the puzzy says:

    @Chrislhayes

    I imagine John Boehner waking up early today,
    & sitting in front of a big flat screen w C-SPAN on,
    a glass of red wine,
    and a pack of smokes

  35. Grab them by the puzzy says:

    @igorvolsky

    GOPers being asked 2vote for health bill w/19% approval rating from a POTUS under FBI investigation & 39% approval

    P.S. bill DOA in Senate

  36. D-FENS says:

    Nebraska Democratic party giving welcome baskets to homeless and needy veterans because they are selfless and giving.

    https://www.youtube.com/watch?v=L5qVClgU-_I

    Just kidding…they’re giving them to refugees (and including a handy voter registration form)

  37. Grab them by the puzzy says:

    @NYTimes

    Revised GOP health care bill would cost more than the original bill
    but leave just as many uninsured,
    CBO said

  38. Grab them by the puzzy says:

    @Sarahcpr

    Breaking:

    Ivanka Trump releases statement demanding
    #FreedomCaucus cover maternity care

    (just kidding she’s skiing)

  39. Steamy Cankles Foundation says:

    “GOPers being asked 2vote for health bill w/19% approval rating from a POTUS under FBI investigation & 39% approval ”

    For a second there, I thought Bill was back in the White House?

    Unhinged.

  40. chicagofinance says:

    : )

    Grab them by the puzzy says:
    March 24, 2017 at 8:33 am
    @Sarahcpr

    Breaking:

    Ivanka Trump releases statement demanding
    #FreedomCaucus cover maternity care

    (just kidding she’s skiing)

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  42. Steamy Cankles Foundation says:

    Gator just showed me the cover of the post with Trump driving a truck and the headline reads, “my way or the highway,” alluding to ACA repeal. She thought it was the Post actually bashing Trump. I said, not at all. And it’s the perfect example of the left not getting it at all. I can just see people all across America saying, “Obama probably couldn’t even drive a stick shift, let alone a Mac Truck.” And the left is all over the same photo saying such dumb things as, “look at at Trump playing with his toy trucks.” They really are setting the red team up for a long stay in DC. Making fun of the majority of the American population at every opportunity is why they are in their current position. And they continue to follow the same strategy.

    It’s funny. That major DNC player who I’m friends with from Montclair, completely gets it. He is done with the escape to Canada jokes. He admits the Russian stuff is about as absurd as the birther movement. He realizes that his party leadership is doing less than nothing to appeal to the Bernie supporters or really any millennials whatsoever. He’s also pissed that Obama did nothing to promote a next in line candidate. I told him, why would he when his party completely abandoned him to HRC in the 2008 election. He plainly admitted his party is a mess. Even before the major election, he was more worried about the 2018 mid-term elections than even Trump beating HRC which he knew was a real possibility. His concern was the same as mine. How do you get the party off of the ledge?

  43. Fast Eddie says:

    The intelligence is said to leave no doubt the Obama administration, in its closing days, was using the cover of legitimate surveillance on foreign targets to spy on President-elect Trump, according to sources.

    Any questions?

    http://www.foxnews.com/politics/2017/03/23/potential-smoking-gun-showing-obama-administration-spied-on-trump-team-source-says.html

  44. Fast Eddie says:

    Steam,

    Stop trying to use analysis and conclusion, you’ll melt a snowflake’s brain.

  45. Steamy Cankles Foundation says:

    Hey Gary,

    Your party is in excellent shape. Enjoy the next 8 years. Personally, I liked it a lot better when the right was upset with the left. I hold the elitist left to a higher standard and watching them run around like Chicken Little for the past 6 months or so has been excruciatingly painful. The fact we are still clueless just adds to the pain.

  46. Trumpito Does PussinatorJudo says:

    The TrumpCare/ObamaCare fight is actually quite of a political judo move by Trump.

    Fact – TrumpCare offered would cost more & cover less. It would affect “damage hospital for profit industry”. It was no received well at all by public. Trump found his numbers got worse by getting near this issue, realizing that the issue was an “astroturf” issue – plenty of noise and sizzle coming mainly from the ideological pure wing, but most people really are not affected in a negative way by ObamaCare existence and many actually benefit.

    With this in mind Trumpito has given the “ideological pure” wing a ball to play with in their court and they were not able to score a hit. He takes ball back and consider them less than serious. ObamaCare issue is forever close during his presidency and just to make it even sweeter Ryan got even weaker.

    Very nice move by him to get rid of the ObamaCare and Tea Party wackos in one fast good move.

  47. The Original NJ Expat says:

    Chicks dig Trump.

  48. D-FENS says:

    Funny how life works. Who would have thought the Tea Party would be the ones to keep Obamacare intact?

  49. Fast Eddie says:

    Wow, the left is just seething. They are forever in denial that they lost. So, this is what a furious cuck looks like. Hmm…

  50. D-FENS says:

    Hi, I’m the repair man…here to install some wireta….

    Er I mean I’m here to fix your phones…

    @Breaking911
    BREAKING: FBI Director James Comey is at the White House, unclear as to why –

  51. D-FENS says:

    DEM on the House floor just said “GOP Stands for Get old People!”

    Glad to see they’re offering some good ideas on how to improve the healthcare bill.

  52. Grim says:

    Very nice move by him to get rid of the ObamaCare and Tea Party wackos in one fast good move.

    This is interesting

  53. Bagholder says:

    ‘improve the healthcare bill’

    ?

    It’s a very unpopular bill that no one wants this to pass, outside of getting a win. No reason to get your fingerprints on it.

    There has to be a second bill somewhere, and this one was just theater. A GOP bill with a GOP majority house and they still can’t pass it? Doesn’t make any sense.

  54. Raymond Reddington says:

    Ex Pat, Chicks dig money.
    Trump has money.
    Chicks dig Trump.

  55. Bagholder says:

    ‘ObamaCare issue is forever close during his presidency and just to make it even sweeter Ryan got even weaker.’

    Nope, he just pulled the bill. Again.

    It’s terminal but resilient.

  56. Against The Grain says:

    “There has to be a second bill somewhere, and this one was just theater. A GOP bill with a GOP majority house and they still can’t pass it? Doesn’t make any sense.’

    I agree, they sent about 60 bills to Obama to repeal it. You’d think they would just pull one of those bills out of a hat, pass it, and call it a day if they were sincere. I’d hate to think that they wasted the people’s time 60 times to pass bills that they really didn’t want.

  57. yome says:

    House Republicans have pulled the GOP health care plan from the House floor just minutes ahead of a planned vote, a House leadership aide tells NBC News, leaving the fate of the party’s efforts to repeal and replace Obamacare with an uncertain future.

  58. Bystander says:

    Shart of the Deal..

  59. Newbomb Turk says:

    Eddie Ur Boy is ****Tard, meaning I believe you as an avid fan are also afflicted with the ****tard iness.

  60. Grab them by the puzzy says:

    Immigration Ban # 1 – fail

    Immigration Ban # 2 – fail

    Healthcare overhaul – fail

  61. Grab them by the puzzy says:

    @jonfavs

    Republicans have tried and failed to kill Obamacare for seven years.

    Trumpcare died in 17 days.

  62. reinvestor101 says:

    Dammit. The only damn thing that’s going to make up for this is that damn wall.

  63. reinvestor101 says:

    Putin had something to do with this. He was probably working in league with Obama. Obama made damn sure to plant RINO’s in the GOP and he spied on my president. I don’t want no stinking heathcare or anything that Obama put his filthy damn hands on. Obama and Clinton are jumping for joy right now and that damn stinking commie Putin has a damn smirck on his damn place. THE ONLY THING THAT’S GOING TO MAKE THIS BETTER IS THAT DAMN WALL GOING UP AND FORCING MEXICO AND CHINA TO PAY FOR IT. Someone has to pay for this.

  64. Grab them by the puzzy says:

    @ericgarland

    OOH! OOH! Can we force a vote on making Mexico pay for The Wall tomorrow so Trump can keep winning?

  65. reinvestor101 says:

    Mexico has been starting crap for damn years. We don’t need no stinking vote. We need to invade them and force them and those damn commies in China to build that damn wall. Why China? They built a damn wall that stands to this day. They need to be forced to help Mexico.

  66. Trumpito loves Babushka says:

    Fast Eddie, you bet that there probably was a FISA wiretap warrant against Manafort, and thereby it picked up the campaign stuff if any. Any good counter-intelligence team would have definitely be on top of this one, simply because of Manafort’s background, history and (at that time) possibilities in future of access to TS SCI info.
    Any wiretaps done, if any, would fall strictly under the late James Jesus Angleton world.

    Fast Eddie said,

    The intelligence is said to leave no doubt the Obama administration, in its closing days, was using the cover of legitimate surveillance on foreign targets to spy on President-elect Trump, according to sources.

    Any questions?

  67. Grab them by the puzzy says:

    @bencasselman

    ::Two weeks later::

    “Who knew tax reform could be so complicated?”

  68. Bystander says:

    Try again,reinvestor..

    March 9th

    Mitch McConnell on whether he believes Mexico is paying for the border wall: ‘Uh, no’

  69. The Original NJ Expat says:

    It’s to settle a bet whether a 6’8″ guy on his knees is still taller than Kelly Ann Conway.

    BREAKING: FBI Director James Comey is at the White House, unclear as to why –

  70. Bystander says:

    Liar in chief like no one before him:

    3.24.2017 – President Trump: “I never said repealing and replacing Obamacare would be easy. ”

    11.1.2016 – “We will be able to immediately replace Obamacare and we will do it very, very quickly

    10.25.2016 – “My first day in office I am going to ask congress to put a bill on my desk getting rid of this disastrous law..and its gonna be so easy.”

  71. Yo! says:

    Buy now or be priced out of suburban train towns forever. The next house price boom starts today.

    Or wait 5 years and buy a house in Sussex ,Warren, or Hunterdon for 25% below current price levels.

  72. SteamTurd, reminiscing about Cankles says:

    “Liar in chief like no one before him:”

    This can not be denied. But like no other politician, he doesn’t even pretend to care about being caught redhanded. In a way, it’s kind of refreshing not having to listen to the denials and coverups that no one believes anyway.

  73. Pembrus Vandergarden says:

    2:22 by refreshing you mean ridiculous??

  74. The Great Pumpkin says:

    Best location to buy an income producing property?

  75. Phoenix says:

    Median home price in 1950 was 2x median household income. Today it is 4 times. Data from Washington Post article. Very little data given, however. Houses are much larger (average), other missing part ( more important) is that many more women are included in the household income, plus they make much more than in the 50’s. If so, much higher burden on the youth today.

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