The attorney for a public-interest group is asking state Attorney General Tom Horne to not hand over $50 million from a national mortgage-settlement fund to the state budget.
Horne on Tuesday promptly rebuffed the request from the Arizona Center for Law in the Public Interest. This sets the stage for a legal battle over one of the more controversial provisions of the recently enacted state budget.
At issue is the decision of the Legislature and Gov. Jan Brewer to tap $50 million from the $97.7 million the state received as part of its settlement with five mortgage-lending firms. They said they needed the money from the national mortgage settlement to balance the state budget. Initially, the intent was to use the money for prison construction.
If we had a culture of accountability, using this money for prison construction, to house the bank executives who committed criminal fraud against Arizona homeowners, might make some sense. But we don’t, and so Arizona’s cash raid can be seen for what it is.
Rest here…
Meanwhile, California is not following Arizona or other states' footsteps in using the foreclosure fraud settlement fund to balance the state budget:
Mortgage deal cash is divvied, housing counselors, legal agencies to get money under @CalAGHarris plan, via @latimes latimes.com/business/la-fi…
— CA Attorney General (@CalAGHarris) May 12, 2012
No comments:
Post a Comment