Votes Are Lost As Homes Are Lost In Foreclosure

As homes are lost in U.S., fears that votes will be, too
International Herald Tribune
By Ian Urbina
September 25, 2008

More than a million people have lost their homes through foreclosure in the last two years, and many of them are still registered to vote at the address of the home they lost. Now election officials and voting rights groups are struggling to prevent thousands of them from losing their vote when they go to the polls in November.

Many of these voters will be disqualified at the polls because, in the tumult of their foreclosure, they neglected to tell their election board of their new address. Some could be forced to vote with a provisional ballot or challenged by partisan poll watchers, a particular concern among Democrats who fear that low-income voters will be singled out. That could add confusion and stretch out lines that are already expected to be long because of unprecedented turnout.

Federal election officials say they are concerned that voters are not being properly informed of how to update their addresses.

"Our biggest concern is that many of these voters will stay home or that poll workers will give misinformation," said Rosemary Rodriguez, the chairwoman of the federal Election Assistance Commission, which oversees voting.

Todd Haupt, a home builder, lost his home in Josephville, Missouri, to foreclosure last year, and said he had since become much more interested in politics. But asked whether he had remembered to update his voter registration information when he moved into his parents' home in St. Charles, Missouri, Haupt, 33, paused silently. "Is that required?" he said. "I had no idea."

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Bush Administration’s Fuzzy Bailout Proposal

Peter Orszag, the Congressional Budget Office director, tells Congress that the proposed $700 billion bailout may worsen the current financial crisis. Orszag says, “. . . intervention on a massive scale is not without risks to taxpayers and to the economy. Almost by definition, the intervention cannot solve insolvency problems without shifting costs to the taxpayers. Ironically, the intervention could even trigger additional failures of large institutions, because some institutions may be carrying troubled [junk] assets on their books at inflated values. Establishing clearer prices [through the proposed bailout process] might reveal those institutions to be insolvent.”

Forbes writes that the Bush administration’s bailout proposal was thrown together in a rush without thinking it through:

The more Congress examines the Bush administration's bailout plan, the hazier its outcome gets. At a Senate Banking Committee hearing Tuesday, lawmakers on both sides of the aisle complained of being rushed to pass legislation.

"The secretary and the administration need to know that what they have sent to us is not acceptable," says Committee Chairman Chris Dodd, D-Conn. The committee's top Republican, Alabama Sen. Richard Shelby, says he's concerned about its cost and whether it will even work.

In fact, some of the most basic details, including the $700 billion figure Treasury would use to buy up bad debt, are fuzzy.

“It’s not based on any particular data point,” a Treasury spokeswoman told Forbes.com Tuesday. “We just wanted to choose a really large number.”

Barack's Press Conference

In this time of economic crisis, Barack approached John McCain to suggest a joint statement of principles to guide a recovery plan. McCain then announced he would suspend his campaign and requested a postponement of Friday’s debate. In his press conference, Barack made it clear that a debate is needed now more than ever. Watch the video

Washington Helped Drag Europe into the Credit Crisis

Spiegel Online

Response to Washington's multi-billion dollar Wall Street bailout has involved a lot of skeptical grumbling in Germany and the UK. German Chancellor Angela Merkel says the Bush administration has mishandled Wall Street, and that its refusal to adopt stricter rules led to the current crisis.

The United States government is campaigning around the world for support for its multi-billion dollar Wall Street rescue package. The reaction has been skeptical at best -- and in Europe the plan has been met with bare-knuckled criticism.

German Chancellor Angela Merkel has accused the US government of serious failures which she believes contributed to the current credit crisis. In particular she blamed Washington for resisting stricter regulation.

On Monday she also said the crisis could hurt the German economy. "The whole thing is going to set the pace for the economy in the coming months and perhaps years," Merkel said at a meeting of her party, the conservative Christian Democrats.

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