Gutierrez Not Running for Chicago Mayor

By Elise Foley 10/14/10 5:01 PM

Immigrant rights advocates can breathe a sign of relief: Rep. Luis Gutierrez (D-Ill.) announced this afternoon he will not leave Congress to run for Chicago mayor. The longtime supporter of comprehensive immigration reform was considering entering the field to replace Mayor Richard Daley, who announced in September he would not seek re-election for a seventh term. While Gutierrez was not favored to win a general election, there was speculation that his heavy Latino support could boost him in a runoff election or at least allow him help his preferred candidate get elected.

Many members of the pro-immigration reform community have said they hoped Gutierrez would remain in Washington, where he has pushed for comprehensive immigration reform as well as smaller bills such as the DREAM Act and measures to expand legalization options for some undocumented young people and foreign-born partners of gay and lesbian U.S. citizens.

Are Homeowners in Default to Blame for Foreclosure Crisis?

By Annie Lowrey 10/14/10 4:44 PM

Reuters notes that Wall Street types are complaining that coverage of the current foreclosure crisis — in which banks might have taken houses away from homeowners without the proper documentation — elides the fact that the defaulters are in fact in default.

“If you didn’t pay your mortgage, you shouldn’t be in your house. Period. People are getting upset about something that’s just procedural.” said Walter Todd, portfolio manager at Greenwood Capital Associates. [...]

“Everyone’s responsible for following the law. If we all don’t have to pay our mortgage, should we just stop paying taxes, too?” said Anton Schutz, president of Mendon Capital Advisers. “Your mortgage didn’t get to a robo-signer by accident, it’s because you’re not paying.”

Report: Immigrants and Their Children Becoming More Influential in Elections

By Elise Foley 10/14/10 4:14 PM

Immigration Policy Center released a study today contending that “new Americans,” defined as recent naturalized citizens and U.S.-born children of immigrants from Latin America and Asia since 1965, are becoming increasingly powerful in elections as their numbers grow. In 2008, these groups made up about 10 percent of the voting population, a number that grew by more than 100 percent since 1996, according to the report.

Granted, newly naturalized citizens, Latinos and Asians do not vote in a bloc, but polls indicate many from these groups share similar political preferences — including widespread support for immigration reform. The report claims immigrants and their children are particularly important in certain states with large immigrant populations. In California, for instance, “new American” voters accounted for 28.9 percent of the electorate in 2008, according to census data.

The Long-Term Impacts of the Chilean Mining Rescue Coverage

By Andrew Restuccia 10/14/10 3:53 PM

The Guardian reports today that the BBC spent so much money covering the rescue of 33 Chilean miners this week that it will have to cut back on coverage of a number of important upcoming events.

One of the first items on the chopping block: key United Nations climate talks in Cancun at the end of the year. The Guardian, citing a leaked memo from the BBC, says the news agency will send just one correspondent to the Cancun summit. The BBC sent 26 staffers to Chile to cover the mining disaster and rescue at a cost of 100,000 pounds or more than $160,000.

Lower- and Middle-Income Americans Tighten the Purse Strings

By Annie Lowrey 10/14/10 3:49 PM

A new Gallup poll shows that lower- and middle-income Americans — those making less than $90,000 a year — have tightened their purse strings yet again, facing high rates of unemployment and stagnant wages. All in all, lower- and middle-income Americans cut daily spending last month $6 from August and $16 from July, down to $48 per day. That is the lowest level since Gallup started tracking the statistic, in January 2008.

What Does ‘Secure the Border’ Actually Mean?

By Elise Foley 10/14/10 3:47 PM

Alan Bersin, the commissioner of U.S. Customs and Border Protection, was asked a good question during a talk this afternoon hosted by the Migration Policy Insitute: Securing the border is his job, but what exactly does he consider a secure border?

It’s an interesting question, particularly given the debate over when the country should take on comprehensive immigration reform to deal with the estimated 11 million illegal immigrants already in the country. One side of the debate argues the borders must be secured before the government can take steps to allow some of those illegal immigrants to gain legal status. On the other side — the one the Obama administration has supported — reform advocates argue that providing paths to legalization for some illegal immigrants is necessary to reducing tensions and creating secure borders. But neither side seems to provide a clear answer as to what factors would indicate that the border was officially “secure.”

How Foreclosure Fraud Might Impact Home Prices

By Annie Lowrey 10/14/10 2:41 PM

Today, RealtyTrac reported foreclosure and home-sale information for September and the third quarter of the year, showing an extraordinarily weak housing market. Here are just a few data points:

Banks repossessed a record 102,134 homes in September. That is the highest monthly count ever recorded, and the first time monthly repossessions have surpassed the 100,000 mark.
Repossessions also hit a quarterly high. Banks took back 288,345 properties between July 1 and September 30, seven percent more than the previous quarter and 22 percent more year-on-year.
During the third quarter of the year, banks scheduled auctions on 372,445 properties. That is a record high, up five percent from the previous quarter.
Sales of properties in foreclosure — whether entering foreclosure, or bank-repossessed — accounted for 31 percent of total sales in September.

Too Big to Fail Rears Its Head Again

The Worst-Case Scenario for the Foreclosure Fraud Crisis

By Annie Lowrey 10/14/10

The scandal threatens to bring the housing market to a standstill and wipe out banks’ bottom lines, possibly necessitating another bailout.

Top stories

In Clean Energy Race With China, Both Countries Come Out Ahead

By Andrew Restuccia 10/13/10

Politicians tend to portray the clean energy movement as a zero-sum game, but advances in China can boost the American economy.

Administration Lifts Deepwater Drilling Moratorium

By Andrew Restuccia 10/12/10

The Obama administration announced today that it is lifting the moratorium on deepwater drilling in the Gulf of Mexico that was imposed in the aftermath of the Gulf oil spill.

The Secret World of ALEC’s Hacks

By Jesse Zwick 10/12/10

The powerful conservative nonprofit brought together state legislators and representatives of the pharmaceutical industry to craft model legislation that has gained considerable momentum.

Ohio, Hit Hard by Foreclosure, Now at Epicenter of Fraud Crisis

By Annie Lowrey 10/11/10

Attorney General Richard Cordray has filed a suit against GMAC Mortgage. “There is evidence that this company has illegally ousted people from their private property,” he told TWI.

In Last Big Jobs Report Before Midterms, Unemployment Rate Holds at 9.6 Percent

By Annie Lowrey 10/8/10

Though the private sector added 64,000 workers in August, 77,000 census jobs and 76,000 local government jobs were lost.

Undeterred by Government Reversal, Communities Keep Up Fight to Opt Out of Immigration Program

By Elise Foley 10/8/10

Several cities that planned to opt out of Secure Communities, an initiative that leads to illegal immigrant deportations, were surprised when federal officials announced the program was mandatory. But local officials aren’t about to give up.

A Right-Wing Candidate Dons the Mask of Moderation

By Jesse Zwick 10/7/10

Judging purely by his policy positions, Toomey is well to the right of the average Pennsylvania voter — but throughout his career, he’s thrived on a personality that’s reasonable, upright, and, at times, downright boring.

Reports Show White House Mishandled Oil Spill Response

By Andrew Restuccia 10/6/10

Four reports released today by the national oil spill commission detail mistakes made by the White House in the chaotic aftermath of the oil spill in the Gulf of Mexico.

No Stranger to Thankless Tasks, Oil Spill Compensation Chief Admits Mistakes and Confronts New Hurdles

By Andrew Restuccia 10/6/10

In an interview with TWI, Feinberg admits that some of the confusion and anger surrounding the payments to victims of the spill is “my fault” but pledges changes to streamline the process.

Financial Reform in Peril

By Annie Lowrey 10/5/10

Lawmakers, bankers and experts say some problems that brought down the financial system have yet to be solved.

Red to Blue: Sowers Tries to Oust Republican in Rural Missouri District

By Jesse Zwick 10/4/10

“I’m not trying to run this campaign, frankly, as an old guy. I’m running it as I am, which is as a 34-year-old, tobacco-using Green Beret straight out of the military who’s not the most finely polished stone out there, but who is sincere in his desire to fight for his home,” Tommy Sowers says.

At One Nation Working Together, Liberals Promote Liberalism – and Rally for Jobs

By Jesse Zwick 10/3/10

“We bailed out the banks and the insurance companies. Now it’s time to bail out the American people,” urged the Rev. Al Sharpton.

Environmentalists Size Up Climate Change Legislation’s Odds Against a More Conservative Congress

By Andrew Restuccia 10/1/10

Dan Weiss, senior fellow and director of climate strategy at the Center for American Progress, says the fate of energy and climate legislation will be decided on Nov. 2. Environmentalists hope Democrats can pass legislation during the lame duck session, fearing next year’s more conservative Congress.

Job-Creating Stimulus Program Comes to an End, Auguring Thousands of Layoffs

By Annie Lowrey 9/30/10

“Without federal funding, most states and localities won’t be able to continue to provide support for these jobs,” said Larry Summers, the director of the White House’s National Economic Council. “Extending this program will give more governors the confidence not to end it now and could save up to 100,000 jobs.”

Safety Net Support for Disabled Refugees Lapses on Congressional Inaction

By Elise Foley 9/30/10

Supplemental Security Income payments go only to the elderly and disabled with less than $2,000 to their name. Now, Congress has let the safety net payments lapse for refugees fleeing persecution in their home countries and seeking refuge in the United States.

Obama: The GOP Is Being Dishonest

By Meghan Malloy 9/30/10

“It’s time to make tough choices and put politics aside,” Obama said to 70 attendees in a Des Moines backyard chat.

Why Income Inequality Might Continue to Rise: An Interview with Jacob Hacker

By Annie Lowrey 9/29/10

“Inequality looks in the United States more like some developing countries. And, again, there is no natural limit to that. There’s no natural course correction I see. It will take some substantial response in public policy,” Yale political scientist Jacob Hacker says.

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