Your morning jolt: Give home foreclosures their day in court, says Glenn Richardson

You knew that if former House speaker Glenn Richardson were to revive his political career, he would have to go where no Republican has gone before. And now he has.

In a friendly 34-minute interview first posted at Paulding.com, Richardson – now looking to win a seat in the state Senate – discusses depression and his 2009 attempted suicide, transportation, ethics, and has some indirect criticism of the Legislature’s decision to change the terms of the HOPE scholarship.

But the former speaker also said he’s ready to look at slowing down home foreclosures in Georgia by bringing the courts into the process. This is important, given that District 30 is a largely exurban district that has more than its share of zombie subdivisions – particularly in Paulding County, where Richardson lives.

Four years into a massive housing crisis that has crippled the metro Atlanta economy, Richardson may be the first Republican legislative candidate to seriously raise the topic of giving beleaguered homeowners the right to take their cases to a judge. The discussion happens at about the 11:00 mark below:

Says Richardson:

”There are people that are upside-down. Then there are people that are upside down and backwards. I’m upside down and backwards. Upside down just means you can’t sell your house for what it’s owed for. Upside down and backwards means you can’t sell your house for what’s owed, and you’re struggling to make your payments.

“There are millions of people in this nation, hundreds of thousands in Georgia and this Senate district, that are struggling to make their house payments. I think that there are a couple things that we can do. I believe it may be time for the state to start looking at what I’ll call slowing down the mortgage foreclosure process. Georgia has non-judicial foreclosure…

“As long as there were only a few foreclosures going on, the balance was good. But what’s happening is, every time these big mega-mortgage companies – I call them the Bank of Americas, the Well Fargos – every time they foreclose on a house that was worth [$200,000], they foreclose on it for [$70,000], and they sell it. The person’s house right beside it goes down in value, and then they can’t sell.

“Wells Fargo, or Bank of America, or these big banking entities, they just gobble it up. Why do they gobble it up? Because they’ve got federal taxpayer backing them, because they’re too big to fail. So they just keep getting more money from the federal government, from me and you. They keep foreclosing on the people and destroying the market.

“I think it’s time to slow it down, and I’m going to seriously look at putting a check on the foreclosure process in Georgia….We need to slow it down, or this market’s never going to recover. As long as the boat’s taking on water, we’re never going to get it to float….”

At the tail end of the interview, Richardson – who was forced to resign in part because of an affair he had with an AGL lobbyist — comes to the topic of ethics. He promises to support a $100 cap on gifts from lobbyists to legislators.

“People need to believe in their elected officials,” Richardson said. “My pledge is that I’ve learned from my mistakes. And every decision I make, I’m going to try to do something better for Georgia.”

Three other Republicans are in the special primary for the Senate seat on Nov. 6: Mike Dugan of Carrollton, a general contractor; state Rep. Bill Hembree of Winson; and James Naughton, a business consultant from Carrollton.

***
Earlier this month, in a cheeky campaign TV ad, U.S. Rep. John Barrow, the Democrat of Augusta, pointed to a bill that he had co-sponsored to cut the size of the federal government’s motor fleet.

On Wednesday afternoon, House Republican leaders did Barrow — locked in a tough race against GOP challenger Lee Anderson — a great favor and brought the measure up for a vote. It passed on voice vote, over the objection of one Democrat, according to my AJC colleague Daniel Malloy in Washington.

Writes Malloy:

Barrow’s bill – on which he joined with New York Republican Richard Hanna – came out of a recommendation by the Bowles-Simpson deficit commission.

Excluding the military, the Postal Service and vehicles necessary for national security, the bill would cut funding to the General Services Administration – yes, that General Services Administration– to purchase new government vehicles by 20 percent. Government actuaries estimate this could save up to $500 million over the next decade.

Barrow used his opportunity on the House floor Wednesday to talk about the Blue Dog’s favorite topic, and the primary argument for his re-election in a Republican-leaning district: working across the aisle.
“I’m pleased to join my colleague Rep. Hanna in support of his version of this legislation because acting in a bipartisan fashion isn’t only the right way to act around here, it’s the only way to get things done around here,” Barrow said.

The only official resistance to the plan came from New York Democrat Carolyn Maloney, who pointed out the bill never had a committee hearing or was properly studied and that it did not take into account agencies that have already reduced their fleet sizes. And she suggested it could have used another loophole to exempt the Department of Veterans Affairs.

Still, the measure sailed through. Its prospects are unclear in the Democrat-run Senate. For Barrow’s campaign, it already has served its purpose.

The camp of Barrow’s foe said the motive was purely political and that Barrow had voted for plenty of spending in the past.

“If Barrow’s political career was on the line every year, we probably wouldn’t have millions out of work, billions in reckless spending, and trillions in debt,” Anderson spokesman Ryan Mahoney wrote in an email.

***
Presidential polls are flying every which way, but this observation from Nate Silver of the New York Times may be worth your attention:

Although there are exceptions on either side, like the Gallup national tracking poll, for the most part Mr. Obama seems to be getting stronger results in polls that use live interviewers and that include cellphones in their samples — enough to suggest that he has a clear advantage in the race.

In the polls that use an automated dialing method (“robopolls”) or which exclude cellphones, Mr. Obama’s bounce has been much harder to discern, and the race looks considerably closer.

- By Jim Galloway, Political Insider

For instant updates, follow me on Twitter, or connect with me on Facebook.

39 comments Add your comment

Jon

September 20th, 2012
10:34 am

Nice to see Richardson admit he needs this job for the paycheck.

Ghost of Eisenhower

September 20th, 2012
10:44 am

Oh, wow. I actually agree with something Glenn Richardson said. Wholeheartedly!

sheepdawg

September 20th, 2012
11:11 am

looks as though glenn the crooked lier has been truly humbled….but i still wouldn’t vote to put him back in public office

ANGRY AS HELL

September 20th, 2012
11:17 am

He’s got to be totally crazy to want to jump back into “The Snake Pit.” Apparently, he can’t imagine the hill he’ll have to climb to be taken seriously by any of his potential constituents.

ByteMe

September 20th, 2012
11:18 am

Upside down and backwards means you can’t sell your house for what’s owed, and you’re struggling to make your payments.

He admits he’s in this situation, but he feels like the best way he can get out of it is to run for office (which pays very little for 4+ months of work) to change the laws concerning foreclosure. Umm…. What’s wrong with this picture window?

td

September 20th, 2012
11:27 am

ByteMe

September 20th, 2012
11:18 am

Since Richardson is the controlling partner of the largest law firm in Paulding county then his proposal makes a lot of since to him for his own picket book.

Bob Loblaw

September 20th, 2012
11:32 am

If you had Richardson’s alimony payments, you wouldn’t be able to afford your house payment, either.

However good judicial foreclosures may sound, the State’s Judiciary would scream at the costs involved.

@TD: If Richardson was looking to line his wallet, then why didn’t he pass judicial foreclosures as Speaker? As a freshman Senator he’s going to have a hard time with it. You’re self-dealing accusation, here is a bad one.

J Throckmorton Malcontent

September 20th, 2012
12:27 pm

It’s up to Paulding County to decide whether they want to be the Clayton County of the west.

The Snark

September 20th, 2012
12:27 pm

Is this the same Glen Richardson who used his power as Speaker to crush any pro-consumer legislation deemed unacceptable by the banking industry? Who voted to gut the nation’s strongest predatory lending bill, a vote that had banking lobbyists cheering and slapping each other’s backs in the halls of the Capitol?

Gimme a break. My memory is not that short.

Real Athens

September 20th, 2012
1:00 pm

Snark:

Um, yes it is: a career political opportunist who’ll be re-elected in our one party system. I wonder who is paying for his campaign if he is so broke?

Kris

September 20th, 2012
1:36 pm

My goodness look what just slithered out from under a rock…Another convicted politician wanting another crack at the hen house…

Let me throw this out to the (#$$#–Ball) Richardson. Do your plans include this DEAL boondoggle? Heck any honest politician care to comment…Just contact The AJC.

Funds for defrauded homeowners diverted by state
By Christopher Quinn
The Atlanta Journal-Constitution
State legislators and Gov. Nathan Deal will spend $104 million of the $815 million banks are paying Georgia to settle foreclosure fraud claims, but if past indications hold true, much of that money won’t be going to distressed homeowners.
The discretionary cash will likely be spent on other areas of the state budget, as is money from Georgia’s settlement with tobacco companies and millions of dollars in directed fees that Georgians pay yearly.

Read more:

http://www.ajc.com/news/news/state-regional-govt-politics/funds-for-defrauded-homeowners-diverted-by-state/nQR6p/

Impeach DEAL
Re-Elect President OBAMA

Danny O

September 20th, 2012
1:42 pm

@The Snark:

Terry Coleman (D-Dodge County) was speaker in 2003 when the Georgia Fair Lending Act was gutted. Most of the action took place in the Senate, when former Majority Leader Bill Stephens (R-Forsyth County) took to the well to lie about communications he had received from mortgage servicers on Wall Street.

Danny O

September 20th, 2012
1:47 pm

I’m no Glenn Richadson apologist, but if he’s expecting an election victory to increase his income it won’t be as a result of his state salary. Legislators in Georgia make about $17,000 a year.

(Unless you’re the Speaker. Then you make about $100k.)

Don't Tread

September 20th, 2012
2:05 pm

“They keep foreclosing on the people and destroying the market”

Those evil banks, requiring people to pay loans back and all that…What slimeballs.

cc

September 20th, 2012
2:26 pm

Remember this: “Your morning jolt: James Earl Carter IV and the ‘poetic justice’ behind the Romney video
9:50 am September 18, 2012, by jgalloway”?

It has now been learned that the tape released was selectively edited in the portion where Romney spoke about the Muslims and terrorism. Listening to the entire audio portion reveals that the meaning of Romney’s comments were changed completely by the portion dimocraps said was ‘flawed’ and could not be used. James Earl Carter IV and/or the national dimocrap party (probably known by Obama) are confirmed blatant liars as they continue to deceive the American public with the aid of the very willing and compliant ‘news media’.

The above is NOT to state that Galloway knew this at the time the column was written and posted.

cc

September 20th, 2012
2:40 pm

Don’t Tread@2:05 pm:

“Those evil banks, requiring people to pay loans back and all that”

Yeah, imagine that! Those evil old banks should just give the property to the borrowers, even though a significant number of them knew they wouldn’t be able to repay the loan when it was given them. I guess they were counting on winning the lottery, defaulting on the loan anyway and buying a REAL palace with their winnings. They were going to make all the arrangements on their Obamaphone!

Road Scholar

September 20th, 2012
2:54 pm

Anderson is an idiot.

the cat

September 20th, 2012
2:54 pm

cc-that is a total lie.

Our Less Fortunate Friends

September 20th, 2012
3:00 pm

I am shocked, shocked that there are lies in this establishment.

Shocked I say.

Money talks. He who makes the gold make the rules.

cc

September 20th, 2012
3:45 pm

the cat@2:54 pm:
“cc-that is a total lie.”
Since you didn’t say, I assume you reference the Romney tape? If so, I have heard the tape and know it to be true. You’ll probably have a very hard time getting that information from ABC, CBS, NBC, PMS/NBC, PBS, New York Times or Time magazine, etc. Every one of them is in the tank for Hussein.

Educate yourself by questioning what you hear/see from the dimocraps and the lame-stream news media.

Carol

September 20th, 2012
4:02 pm

cc
The tape was edited in it’s initial release to the public PERIOD. Mother Jones has the full tape which has not been available for all to see and hear. Even Carter said that when he first heard of the tape it was only a snippet.

Carol

September 20th, 2012
4:06 pm

Danny O

You’re right, I forgot they really don’t make that much in the way of a salary. They do have some perks. Richardson is completely aware of those. Why not work on building his law practice? When he failed at two suicide attempts I felt that the man was a narccists (sp). He just wants attention. With a seat in the house or senate you have some power and I think that is wh at Richardson desires above all.

Auntie Christ

September 20th, 2012
4:14 pm

Folks, does your busy schedule prevent you from visiting all the liar sites like drudge, michelle malkin, breitbart and pox news. Are you not getting your RDA of lies, innuendo and misconstrued, out of context quotes. Are you missing that OMG, the sky is falling, downer each morning?

Well friends, have we got good news for you! Your friends here at “Your Morning Jolt” will provide you with all the lies you’ve been missing by avoiding those right/white wing liar sites. All you have to do is look for the “cc” logo and you’ll find all the latest lies, misconceptions, distortions, and misinformation you’ve come to expect from the white/right wing, all in one convenient comment. For those really into masochism, you can read more than one of his comments, although the owner of this site, Jim Galloway, is not responsible for any vomiting, headaches, and or delusions which follow from such readings.

Don’t be deceived by wannabe cc’s like td, don’t tread, (and his offshoot don’t read), resno2, retired soldier, and other pikers who only bring you the dirt from a few right/white wing sites. cc scours the internet day and night to find all the lies, unlike his sissy competitors who sometimes sleep or engage in productive enterprise. But you must act now, before cc jumps off a cliff or dies of apoplexy the first Wednesday in November, when he finds that Obama has been reelected by all those government dependent sorts. Act Now!

cc

September 20th, 2012
4:21 pm

Carol@4:02 pm:
It was ‘reported’ by the source named in my original post that the tape seen/heard by the public was the usable portion, and that the editing was done due to part of it being damaged or unintelligible, but you are certainly free to believe what you choose . . .

You don't say

September 20th, 2012
4:25 pm

CC

Are you so naive to believe that if the “edited” clip really took Romney out of context that he wouldn’t have said so.

Too many Republicans distancing themselves to buy that right wing bs that is rotting your brain.

cc

September 20th, 2012
4:26 pm

Auntie Christ@4:14 pm:
Did you get it all ‘out of your system’? I made no personal attack against you. Your comments are incorrect. Have a nice life . . .

You don't say

September 20th, 2012
4:29 pm

cc

Keep hanging on. Swing States not looking good for you, but love to see your desperation on the AJC blogs.

Keep posting and keeping hope alive……..

:-)

uga red dawg

September 20th, 2012
4:30 pm

You have to give Richardson credit for nerve or craziness, for wanting to come back to that snake pit called politics. Of course in his day, he was one of the masters of high pressure dirty politics. Hard to believe he has really changed that much. Unless his depression and fall from power has truly humbled him. But I doubt it. He needs to stay retired !!

cc

September 20th, 2012
4:32 pm

OK, you libs get back to reinforcing each other’s belief system. Have a somewhat less than nice day . . .

You don't say

September 20th, 2012
4:33 pm

honested

September 20th, 2012
4:38 pm

Auntie Christ,

Best laugh I’ve had all day!

But back to the topic, are there enough stupid people in any district in this state to elect glenn richardson to anything?
If it had not been for the diminished capacity that led to his resignation, he surely should have been prosecuted (but after all, this is Georgia).
As to who is financing his campaign, regulated utilities ‘take care of their own’. They may not be dumb enough to hire him as a lobbyist but they are well aware he’s for sale and what he costs.

Are there so few people in this State sufficiently qualified and reliably honest enough to be elected and lead that we have to recycle this sort of damaged goods?

What a truly sad state of affairs.

uga red dawg

September 20th, 2012
4:50 pm

Honest ted,

Hard to believe the utility companies, like Georgia Power, Atlanta Gas, would go anywhere near Richardson, considering his past sleazy connection with them. Would be a public relations disaster if it was discovered any relationship now. But never underestimate the foolishness and greed of some people.Tthey never learn.

hiram

September 20th, 2012
6:31 pm

uga red dawg
September 20th, 2012
4:50 pm

“Hard to believe the utility companies, like Georgia Power, Atlanta Gas, would go anywhere near Richardson, considering his past sleazy connection with them. Would be a public relations disaster if it was discovered any relationship now.”

Your kidding – Georgia’s politicians have no shame, and will openly collude with any entity who wants to rip off the citizens. They know that Georgia’s honey boo boo voters don’t have the ability to process information.

Hamiltonaz

September 20th, 2012
7:58 pm

Mr. Richardson’s record should dissuade anyone with a memory from supporting his candidacy.
While judicial foreclosure is a conversation worth having, the best and proper solution is to go back to the rule that foreclosures and bank sales are not arms length transactions and should not be considered as a legitimate appraisal comparable sale.

Darwin in play

September 20th, 2012
8:05 pm

I suppose it makes me a mean person, but I think it is a shame that Richardson failed in the only honorable deed he has attempted in the last 40 years and that was trying to off himself after being unveiled as the total sleaze that he is.

Kris

September 20th, 2012
8:38 pm

I wonder what the unfortunate families in Georgia whose home’s were sold on the court house steps for a fraction of what was owed on them. Georgia has the highest foreclosures rate in the country, so is this crook planning a comeback to take GA from 9th in foreclosures the US to 1st.

“”According to a report Thursday from RealtyTrac, the Peach State was ninth in the nation last month for foreclosure activity, with 13,963 foreclosures, or one foreclosure for every 288 households””

I hope the GOP is proud if this!

Vote no on Charter Schools
Impeach DEAL and recall his cronies.
Re-Elect President OBAMA.

Kris

September 20th, 2012
8:45 pm

My bad…It should read

I wonder what the unfortunate families in Georgia whose homes were sold on the court house steps for a fraction of what was owed on them. Think about this crook coming back to help sell out more families.

[...] keep getting more money from the federal government, from me and you. … Read the rest here: Your morning jolt: Give home foreclosures their day in court, says … ← Prevent the Particular Illegal Property Foreclosure of Your Residence Bank Watch: Big [...]

The Snark

September 21st, 2012
11:11 am

Danny O:

Go back and read my post more carefully. I didn’t say Richardson used his power as Speaker to gut the predatory lending law. I said Richardson voted to gut the predatory lending law, and used his power as Speaker to crush anything the banking lobby didn’t want.

Got any proof to the contrary? Can you cite any pro-consumer laws that made it out of the House under Richardson’s reign? Any defeats for the banks?