Posted on 10/07/2008 3:37:07 PM PDT by PhilosopherStones
Wednesday, April 18, 2001
OBAMA LEADS WAY TO PREDATORY LENDING REFORM
Entered by Obama Staff on 4/18/01 at 10:41 am
SPRINGFIELD, Illinois — State Senator Barack Obama (D-Chicago) played a key role today in the successful fight to reform unfair bank lending practices in Chicago and across the state.
The General Assembly’s Joint Committee on Administrative Rules (JCAR) today voted in favor of stricter regulations and control of financial institutions that have been requiring unsuspecting borrowers to pay unfairly high interest rates and high fees to purchase, remodel or finance their homes.
The regulations approved by JCAR would restrict many high-cost loans, curb balloon payments and excessive fees that have been charged by Illinois banks and lending institutions.
“I am glad to have played a leadership role in helping and working with concerned citizens on this issue, especially those from my district on the South Side,” Obama said.
"It is unfair for people who are trying to establish themselves by purchasing a home to be preyed upon. This legislation will make banks think twice about practices that are clearly discriminatory.”
“This is just the beginning. We are going to continue the fight to make our banking system fairer for all concerned,” Obama said.
Obama is co-chair of JCAR along with Illinois Representative Tom Ryder (R-Jerseyville).
The Joint Committee on Administrative Rules is a bipartisan legislative oversight committee created by the Illinois General Assembly in 1977. The committee is authorized to conduct systematic reviews of administrative rules to make public by various state agencies.
We need to collect all these and send them to Drudge, MM, Ace, Corner National Review and, of course, FOX.
Nice catch!
Lindsay Lohan was still just a child actress.
A little info for anyone who claims Bambi will protect your 2nd amendment rights/
Barack Obama’s presidential campaign has worked to assure uneasy gun owners that he believes the Constitution protects their rights and that he doesn’t want to take away their guns.
But before he became a national political figure, he sat on the board of a Chicago-based foundation that doled out at least nine grants totaling nearly $2.7 million to groups that advocated the opposite positions.
The foundation funded legal scholarship advancing the theory that the Second Amendment does not protect individual gun owners’ rights, as well as two groups that advocated handgun bans. And it paid to support a book called “Every Handgun Is Aimed at You: The Case for Banning Handguns.”
Obama’s eight years on the board of the Joyce Foundation, which paid him more than $70,000 in directors fees, do not in any way conflict with his campaign-trail support for the rights of gun owners, Ben LaBolt, a spokesman for Obama’s presidential campaign, asserted in a statement issued to Politico this week.
OBAMA’S HOUSING TAX CREDIT BILL PASSES THROUGH ILLINOIS SENATE
Entered by Obama Staff on 4/02/01 at 9:38 am
SPRINGFIELD, Illinois - State Senator Barack Obama (D-Chicago) passed legislation through the Illinois Senate last Thursday that provides taxpayers, who donate to certain affordable housing projects, a tax credit. The bill (SB 1135) is an amendment to the Illinois Tax Income Act and will provide a tax credit of 50 percent of the value of the donation.
The bill, proposed by Obama and State Senator William Peterson (R-Long Grove), is intended to encourage private donations by individuals or corporations in targeted affordable housing developments. [ACORN?] The tax credit provides a $.50 tax credit for each $1 donated to a non-profit developer for approved projects. The cost to the state is $13 million, but will raise $26 million for the construction of affordable housing.
"This is a program that has a proven record of increasing housing opportunities in other states," Obama said. "By generating $2 for every $1 contributed, this program goes a long way in helping families find a better home."
Missouri’s tax credit program was established in 1991 and has assisted in creating 6,701 units of housing throughout the state. Connecticut, Virginia and Pennsylvania also have similar programs.
"The real goal of this legislation is to provide individuals with more opportunities for affordable housing," Obama said. "We have too many families across our state who want a better place to live, but need some assistance to do so."
According to the bill, at least 26 percent of Illinois households are paying 30 percent or more of their monthly income for housing, and there are fewer affordable housing units available. A study conducted in 1999 by the University of Illinois-Chicago found that the metropolitan area has 153,000 more families at or below 30 percent of the area median income than it has existing units affordable to those families.
On the federal level, a housing tax credit program exists, but Illinois’ program differs from the federal program in that taxpayers are credited for donations and not investments. This bill is a one-time credit for five years, whereas the federal Low-Income Housing Tax Credit program is spread over 10 years.
"This bill rewards individuals who donate money to help their communities and at the same time, give others the opportunity to find a better home," Obama said.
Is there someone that can gather all this stuff up and get it to someone that can do something constructive with it?
http://www-news.uchicago.edu/releases/97/971104.juvenile.justice.shtml
Announcing a panel discussion sponsored by Michelle Obama, as director of the U of C’s Community Service Center ...
“Ayers will be joined by Illinois State Sen. Barack Obama, Senior Lecturer in the University of Chicago Law School, who is working to block proposed legislation that would throw more juvenile offenders into the adult system; Randolph Stone, Director of the Mandel Legal Aid Clinic at the University of Chicago; Alex Correa, a reformed juvenile offender who spent 7 years in Cook County Temporary Detention Center; Frank Tobin, a former priest and teacher in the Detention Center who helped Correa; and Willy Baldwin, who grew up in public housing and is currently a teacher in the Detention Center.”
I’ve met Kurt Schmoke. He’s the ex-mayor of Baltimore that called for the legalization of drugs.
Bobby Rush was a Black Panther.
Black Chicago: For African-Americans, struggle and some gains
Many churches have played dual role of spiritual anchor and center of activism. Rev. Jeremiah Wright, Trinity Church, 773-962-5650, is active on Southern Africa struggles, supports linking local and international issues.[snip]According to a different page on their site...Barack Obama, 773-684-4809, whose work to empower blacks has included his law practice, community organizing, philanthropy and most recently electoral politics: he is a candidate for state senate.
The Woods Fund of Chicago is a grant-making foundation whose goal is to increase opportunities for less advantaged people and communities in the metropolitan Chicago area, including the opportunity to contribute to decisions affecting them. The foundation works primarily as a funding partner with nonprofit organizations. Woods supports nonprofits in their important roles of engaging people in civic life, addressing the causes of poverty and other challenges facing the region, promoting more effec tive public policies, reducing barriers to equal opportunity, and building a sense of community and common ground.
* Jean Rudd, executive director 73 W. MadisonAny relation to Jean Rudd any relation to Mark Rudd?
* Suite 2010
* Chicago, Illinois 60602
* tel: 312.782.2698
Publications, Presentations and Works in Progress
Publications
Dreams From My Father: A Story of Race and Inheritance (Times Books/Random House and Kodansha Books).
Has Obama written any scholarly papers recently?
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