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  Albany is subpar on subprime

Daily News Oct 25 — Nothing illustrates Albany's broken, dysfunctional political culture better than the state Legislature's refusal to address New York's mortgage meltdown by leaving thousands of New Yorkers to cope with fraud, foreclosure and financial ruin on their own.
 
While pols were wasting months bickering about Senate Majority Leader Joe Bruno's use of state aircraft and troopers and the wisdom or folly of granting driver's licenses to illegal immigrants, New York's mortgage disaster spun out of control and is now hitting the city and state economies like a blow to the gut.
 
An estimated 28,000 homes are heading for foreclosure this year, more than half of them in the five boroughs. Personal bankruptcy filings in New York City shot up nearly 70% over the past year to more than 10,000, according to a startling report in Crain's New York Business. Many of those filings were made by desperate, overstretched families trying to delay the loss of their homes.
 
Waves of foreclosures will knock down property values in many neighborhoods. And it will take years of litigation to sort out the many cases of outright fraud in which brokers tricked low-income and elderly borrowers into taking loans they could not afford.
 
Financial institutions that extended shaky mortgages have problems of their own. BusinessWeek reports an estimated 130,000 layoffs in the finance sector this year - much of it linked to the collapse of the subprime mortgage market - including hundreds at firms like Morgan Stanley, Bear Stearns and Merrill Lynch.
 
It's the biggest jobs hit on Wall Street since 2001...Read Full Story »

GOP Calls in Heavy Hitter To Help Fend Off Democrats
One of the best-known and most feared Republican political operatives of the past 30 years, is advising state Senate Republicans on how to...

Back on the warpath Feisty Spitzer pins blame for Albany breakdown on Bruno
Now that the dust has settled on Albany's end-of-session collapse, it's obvious who's to blame for blowing things up: Senate Majority Leader Joe Bruno.

State Dems Hope to Seize Senate
After major victories by Senator
David Valesky, Andrea Stewart-Cousins, and Craig Johnson, speculation is strife on when, not if, Democrats will win back the State Senate.


Dem Wins L.I. Race in Big Boost
To Gov

Democrat Craig Johnson scores a historic victory for Democrats on
Long Island in the special election for the NYS Senate ñ bringing Democrats one step closer to Majority.

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 what's new
 
 
  
 Senate Democrats Propose "No Harm" Budget Fixes $2 billion spending reductions protects education, health care and transportation

Senate Democratic Leader Malcolm Smith has unveiled a five-point plan to
close half of the $4 billion state budget gap. The plan protects healthcare, education and transportation while cutting half of the state's non-essential jobs that are not filled, delaying building projects and trimming the fat from state authorities. Smith wants to take close to $400 million dollars from the state's rainy day fund and expects additional
money from more aggressive Medicaid fraud crackdown …

Smith says this shift in spirit will also encourage more people to remain
in the state and will restore the trust, faith and hope lost over the past
12 years.

Senate Democratic Leader Malcolm Smith is calling for a new spirit in
Albany which will restore the trust, faith and hope lost over the past 12
years …

Smith has proposed a five-point budget mending plan that closes half of the
state's $4 billion budget deficit.
Read More »
Read More Here »
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State senate holding state-wide hearings on property taxes

NEW YORK -- Democrats in the New York State Senate are holding hearings across the state aimed at developing strategies to lower property taxes..

Read more : 

Here& Here»

 
Anatomy of a smear

The verdict is in. At last, the "Troopergate" so-called scandal is certified as a gigantic fraud perpetrated on the public by state Senate Majority Leader Joe Bruno.
Read Full Story »

News from the NEW YORK STATE DEMOCRATIC SENATE CAMPAIGN COMMITTEE (DSCC)

INYS Democratic Senate Campaign Committee Launches Netroots Effort for 2008 Contests

DSCC website part of overall strategy to engage state Netroots activists and build support for campaign's effort to break decades-old gridlock in Albany
Albany, NY-- As part of its continuing effort to expand support for a Democratic State Senate Majority, the New York State Democratic Senate Campaign Committee (DSCC) today launched the Netroots component of its campaign, which is geared towards engaging activists online through the website www.dscc.net.

The website is a part of DSCC's larger strategy to organize local Netroots activists and build support for their effort to break gridlock in Albany and change the status quo in the state senate.

"We recognize that with the advent of political blogs, social networking, online videos and other forms of new media, people expect political parties to use technology to better connect themselves to voters and create a two-way dialogue to bring constituencies together around a common set of ideas," said Bill Samuels, DSCC Chairperson.

"Online and offline, we will work across the state to involve voters in a substantive dialogue on the issues at stake in the 2008 campaign," Samuels said.

Samuels said the approach is part of a longer term effort to coordinate with the New York State Democratic Party to seize the historic opportunity to involve citizens in the Albany legislative process and bring transparency and accountability to its day-to-day work.

"We are working with the DSCC county by county to rebuild our community of activists and get the word out about why we need to break the three decades of gridlock in Albany," said David Pollak, Co-chair of the State Democratic Party. "Engaging and connecting voters online is an important part of that effort."

DSCC's website includes current political and issue-oriented news, biographies of Senate Democratic members and candidates, and information about the Senate Democratic Conference's "9-to-5 Agenda."

Samuels said that includes such '9-to-5' issues as: paid family leave, affordable housing, lower property taxes, greater access to healthcare, protecting a woman's right to choose, a cleaner environment and better schools. Each issue has been the backbone of recent Democratic legislative proposals in the State Senate and will remain the focus of upcoming political campaigns.

"These issues resonate strongly with the vast majority of New Yorkers who are aching to break the gridlock in Albany," said Samuels. "This popular support is why our agenda is so powerful and charged with potential."

Samuels noted that a strong Internet presence is critical to reaching the many young voters who seek a place in the sprawling political landscape. According to Young Voter Strategies' latest polling analysis, young voters are "expressing levels of interest in the 2008 elections as high or higher than adults in their 30s, 40s, and 50s."

"The record is clear. A Senate Democratic majority is necessary for achieving the agenda of hardworking New Yorkers who are weary of the status quo and demand change," Samuels said.



Senator Savino Champions Paid Family Leave Bill Critical to New York's Working 9-to-5 Families
Read Full Story »


Senate Democratic Leader Smith Calls For Extension of Legislative Session to 'Finish the People's Business'
Read Full Story»


 
   
 
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