Friday, October 15, 2010

What bank regulations?

* With the kind of endorsements Republican candidate Steve Stivers has received, it is no wonder that moderates, independents, and Democrats are staying away from Stivers.  Stivers, a former bank lobbyist, has gotten endorsements from Sarah Palin and Tea Party activists. Those two nods of approval scare a lot of people away from the radicalism and obvious racist undertones associated with Palin and the Tea Party.

Even though Stivers worked only seven years as a top bank lobbyist with Bank One (now part of Chase), Stivers has continued to work for and support the ideals and profits of banks.  In May 2006, Stivers voted NO on a bill to protect consumers. This is one of several votes where Stivers demonstrated his love, admiration, and loyalty to bankers and their profits.

Project Vote Smart:

Mortgage Lending Bill


Key Votes:

Am Sub SB 185

Issues: Business and Consumers, Housing and Property Issues
Date: 05/24/2006
Sponsor: Sen. Padgett, Joy (out of office)

Stivers voted NO

Official Synopsis:

Expands the application of the Consumer Sales Practices Act to include certain consumer transactions in connection with a residential mortgage. Generally prohibits the appraisal of real estate for a mortgage loan without state certification or licensure. Prohibits any person from corrupting or improperly influencing the independent judgment of a real estate appraiser with respect to the value of the dwelling offered as security for a mortgage loan. Requires that a national criminal background check be conducted on all applicants for a real estate appraiser certificate or license, a mortgage broker certificate of registration, or a loan officer license.


Stivers voted no:  He voted against a bill that "...requires that a national criminal background check be conducted on all applicants for a real estate appraiser certificate or license, a mortgage broker certificate of registration, or a loan officer license."

According to Stivers, it is okay for criminals to apply for jobs like a real estate appraiser, mortgage broker, or loan officer. Stivers supports unlicensed real estate agents and brokers, and mortgage brokers to be without certification or licensing.  Stivers and his bank buddies are all for unregulated, unsupervised real estate transactions.  In opposing a bill like AmSubSB185, Steve Stivers is saying that consumers do not need or expect protection from criminals and cheaters involved in the purchasing or selling of a home.

Stivers and his ilk are less interested in regulations and more interested in making profits.
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***   There is a very powerful opinion piece in the Springfield News-Sun supporting Gov. Ted Strickland's work in education.  Strickland has improved education across the board in Ohio.

Springfield News-Sun:
...In four years, Gov. Strickland has done quite a lot to advance education. In fact, improving things — at the elementary, secondary and college levels — is fundamental to his approach to making Ohio more competitive....

....When it comes to colleges, Gov. Strickland has accomplished even more. He appointed Eric Fingerhut as chancellor of Ohio’s colleges and empowered him to dramatically reshape Ohio’s portfolio of colleges.....

....At the same time, Gov. Strickland made a tremendous commitment to slowing the rising costs of college by insisting on a two-year tuition freeze.....

Given that former investment banker, John Kasich, wants to eliminate all this progress in education, parents, teachers, students, and professors have to be concerned with Kasich's obvious disdain for public education and those who work in and support it.

Improvements in education will continue with Strickland.  If Kasich is elected, we know that progress will be tossed in the garbage can in favor of a total overhaul to favor charter schools.