SocraticGadfly: The Saudis milk Arizona for all it's worth, but state woes were at least partially preventable

April 20, 2020

The Saudis milk Arizona for all it's worth,
but state woes were at least partially preventable

I hope Arizonans like growing alfalfa for Saudi Arabia even as their own towns and counties that aren't getting Central Arizona Project or other Colorado River moisture dry up. And cave in. No, literally, per that link. The silver lining, to the degree there is one? After enough of the state literally implodes enough from ground subsidence, maybe more of them will move back to Iowa, Illinois or Minnesota. You know, where the water is.

IMO, Obama, as part of the Great Recession bailout, should have bought out free and clear people in Phoenix and Vegas who were underwater (reverse pun recognized) on mortgages — but with a legally binding stipulation they didn't move back to anywhere in the Colorado River Basin for 20 years. And, since the bailout would ultimately benefit banks, they'd have to sign off on not "replacing" these people.

Now, I'm not a lawyer, nor do I play one on teevee. But I'm sure this would have been doable, in one or another way, shape or form.

If banks squawked on the "no replacement homeowners," a real prez simply would have given cash equal to the base payment value of what was left on the mortgage (base payment, as in no interest portion) and then required the same deal out of these folks. In exchange, if the banks kept squawking, a real prez would have offered a wink and a nod to these migrating homeowners about what federal law, at least, would not do to them. If the banks squawked further, some FDIC audits might have been a wake-up call.

Unfortunately, Dear Leader, compromising the compromise away in advance, and putting Lil Timmy Geithner in charge of most financial elements, wasn't a real prez.

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