The crisis related to the mortgage industry or more importantly related to so many home owners is going to impact politics more than we might think.

We have yet to see the real impacts of a serious tightening in credit and a significant down-turn in housing prices. Until now, many sellers and home builders have held somewhat steady on price, preferring to hold on for a better deal rather than sell at a significant discount. That is changing. And as the months go by and what seems like a whole generation of first-time home buyers realizes that they have lost 10%, 20% of their home values, they are going to get angry.

People usually look for someone to blame when they get angry. President Bush is a likely target, the Congress is another. ‘Someone should have done something.’ ‘Someone should have saved the family of four who bought a house with zero down with a mortgage that offered zero interest for 3 years and then adjusted upwards swiftly, from themselves.’ …they will say.

**There is more – click the link**… Read More

Wilson Statue to Receive Regular Visitors… Out of the corner of my ear, Ipicked uplast night on the TV news something about Enrique Morones, self-anointed moral compass on all things racist, announcing he will conduct regular weekly protests of the Pete Wilson bronze statue unveiled last weekend in downtown San Diego. Since this non-news is just that, I won’t mention the station that chose to include it as such.

Let’s see, if Morones can educate 10 persons every Saturday as to Wilson’s racist tendencies, assuming no days off and no population growth whatsoever, he will have a majority of city denizens convinced by about year 3507. I guess the time spent is better for him than doing something constructive.

The bright side:For the next several decades, the PD will always have a first lead if anything happens to the statue. The big question: Would such vandalism be considered a hate crime?

If you missed my FlashReport Commentary of last Sunday, "A Pete Wilson Statue and Prop 187," read it… Read More

The crisis related to the mortgage industry or more importantly related to so many home owners is going to impact politics more than we might think.

We have yet to see the real impacts of a serious tightening in credit and a significant down-turn in housing prices. Until now, many sellers and home builders have held somewhat steady on price, preferring to hold on for a better deal rather than sell at a significant discount. That is changing. And as the months go by and what seems like a whole generation of first-time home buyers realizes that they have lost 10%, 20% of their home values, they are going to get angry.

People usually look for someone to blame when they get angry. President Bush is a likely target, the Congress is another. ‘Someone should have done something.’ ‘Someone should have saved the family of four who bought a house with zero down with a mortgage that offered zero interest for 3 years and then adjusted upwards swiftly, from themselves.’ …they will say.

Beyond the blame game, the issue of home mortgages and a credit crunch will most certainly, in a bigger way than it already has, become part of… Read More

Yesterday’s announcement that thirty-year incumbent Republican Congressman Jerry Lewis will, in fact, run for a 16th term in the House of Representatives caught relatively few observers by surprise. Easily re-elected by voters for 15 terms, Congressman Lewis remains phenomenally popular with his constituents, and many prominent district residents were in attendance when the veteran congressman announced he would be standing to serve the 41st Congressional District yet again. Among those on-hand to cheer Congressman Lewis as he formally announced his re-election plans was the mayor of the city of San Bernardino – noteworthy because the mayor is a proud and active Democrat!

The Democratic Congressional Campaign Committee – the political wing of Speaker Nancy Pelosi’s Democratic US House majority – reportedly had been looking at the 41st Congressional in the event of a Lewis retirement, but now that the widely-respected Jerry Lewis (2006 re-elect percentage: 67) is running for another term, it is likely that Washington Democrats will take a pass on this safe GOP US House seat. The only Democratic candidate running is downtown San Bernardino lawyer… Read More

Yesterday’s announcement that thirty-year incumbent Republican Congressman Jerry Lewis will, in fact, run for a 16th term in the House of Representatives caught relatively few observers by surprise. Easily re-elected by voters for 15 terms, Congressman Lewis remains phenomenally popular with his constituents, and many prominent district residents were in attendance when the veteran congressman announced he would be standing to serve the 41st Congressional District yet again. Among those on-hand to cheer Congressman Lewis as he formally announced his re-election plans was the mayor of the city of San Bernardino – noteworthy because the mayor is a proud and active Democrat!

The Democratic Congressional Campaign Committee – the political wing of Speaker Nancy Pelosi’s Democratic US House majority – reportedly had been looking at the 41st Congressional in the event of a Lewis retirement, but now that the widely-respected Jerry Lewis (2006 re-elect percentage: 67) is running for another term, it is likely that Washington Democrats will take a pass on this safe GOP US House seat. The only Democratic candidate running is downtown San Bernardino lawyer… Read More