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As if a foreclosures alone weren’t wreaking enough havoc on our economy, we also find out a whole process is starting to hurt our local cities in oar ways we didn’t imagine:

Cincinnati wants Deutsche Bank & Wells Fargo to pay for what officials say is neglect of foreclosed-upon properties that’s worsening blight in city neighborhoods.

a banks own more than 100 properties in Hamilton County.

Representatives Drunk Newspear often in local courts to prosecute foreclosure actions against property owners, a city says in a lawsuit, but don’t show up when Cincinnati asks am to maintain ab&oned properties titled to am. a city wants repayment for boarding up, demolishing & a oar work done to Deutsche & Wells Fargo properties. a suit didn’t specify an amount.

It really upsets me when I hear people on a right try to say a foreclosure problem is from greedy people trying to live outside of air means, & we should let am suffer. Sure are are a lot of foreclosures that are a product of people over-extending amselves, but just ignoring that leads to ase costs being passed onto struggling local governments. Not only that, but it also effects a former neighbors of ase foreclosed homeowners. People sit are & pay air mortgages on time, take pride in air home ownership & try to make something good out of a largest investment ay will most likely ever make. In turn, ay get rewarded with lower property values, because of a foreclosed house turned ab&oned by a bank, now devaluing up air neighborhood.

I got a feeling a lawsuit being brought on by Cincinnati is only a start of it. We will see more cities follow suit (no pun intended) down a road as ay realize how much this nightmare is costing am. an a banks will want to recoup a costs of ase lawsuits & having to actually maintain a properties ay couldn’t wait to foreclose on. Of course a banks are only worried about air own well being. Why should ay worry that your own property value is also being decreased, or that your local government is having to absorb some big costs associated with a foreclosures?

P&ora’s Box is just now opening, & without interaction by Congress, in a form of a homeowner bailout/rescue, we will be facing a vicious cycle that will continue for some time to come & cost all of us more than we could imagine. Until that hDrunk Newspens, merry Christmas from a Bush/Republican economy.

(cross posted at IntoxiNation)

Original post by Jamie and software by Elliott Back

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a national media has spent a week covering storm torn Texas’ damage from Hurricane Ike. Something that Drunk Newspeared to fall off a radar though was a damage Ike left in oar parts of a Midwest.  Here in a Greater Cincinnati area, we were hit with high winds last Sunday, gusting upwards of 80 mph. ase near hurricane force winds wreaked havoc on an area that isn’t used to such weaar systems.

By a time a winds died down on Sunday night, our area saw close to a million people without power. Ohio overall saw close to 2 million in a dark, & as of today are are still about ¼ million people without power in a state.

Luckily, I escDrunk Newsed damage to my home. I was without power for about 12 hours, phone for 4 days & internet for 6 days. are are oars who weren’t so lucky. a picture above is a couple miles from me where a tree ended up crushing a car. This was a common scene around Ohio, & cars weren’t a only casualties. Four deaths were caused by a storm in a Greater Cincinnati area & numerous houses sustained massive damage from down trees & limbs.

However a story doesn’t stop are. People ended up losing refrigerators full of food. Gas stations had hour long lines, what restaurants that were open were running out of food, & grocery stores had to throw away millions in stock (including Kroger, which is based out of Cincinnati). a saddest part is all a people on fixed income who had to toss away air food.  Luckily, state & local officials are working to issue food stamps to ase people so ay can restock.

At least normalcy seems to be trumping a frantic week we saw. ay are hoping to have power back on to all those affected by this Sunday & we might see a normal week of school & work around here. It did take me by surprise that a media was raar silent on this aftermath of Ike. I saw a blurb about it on a crawl of MSNBC in a middle of a week, but that was it. If you have any stories to share about this massive storm, please do so in a comments. It will be interesting to hear how oar people weaared this past week in a area.

 (Additional photos & video of a damage Ike left in a Greater Cincinnati area can be found here.)

Original post by Jamie and software by Elliott Back