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Eshoo and Speier request help for cities, counties

Original post made on Jan 18, 2009

Congresswomen Jackie Speier, D-San Mateo, and Anna Eshoo, D-Palo Alto, introduced legislation this week requesting help for local cities and counties that lost money in the collapse of major investment-banking firm Lehman Bros., a spokesman for Speier said Friday.

Read the full story here Web Link posted Sunday, January 18, 2009, 10:36 AM

Comments (6)

Posted by TwoSides
a resident of South of Midtown
on Jan 18, 2009 at 1:57 pm

Where's MY bailout? I am a renter. My rent is too high. My utilities here in Palo Alto are going up while PG&E's rates are going DOWN, AND PG&E is giving bonus's to those whom don't consume a lot of utility. We had our heat on for 30 days, and only for a few hours a day. The rest of the time we are freezing. Where is OUR DISCOUNT? I've talked to some neighbors, they are receiving unusually high power bills....isn't anyone else noticing?


Posted by Jim
a resident of Midtown
on Jan 18, 2009 at 5:04 pm

TwoSides,

In case you have not bothered to notice, PG&E does NOT run Palo Alto's utilities. The PA utilities department does that task. If your point is that PG&E customers are doing better than PA utilities customers, you might have a point, however PG&E cannot be blamed for that.


Posted by R Wray
a resident of Midtown
on Jan 19, 2009 at 11:10 am

The moochers are coming out of the woodwork. Wait to see how many mortgage holders decide that they can't meet their payments now that the government-owned banks are going to bail them out. We are now a nation of moochers and government looters. The producers don't stand a chance.


Posted by YouShouldKnow
a resident of Old Palo Alto
on Jan 19, 2009 at 1:12 pm

Jim? TwoSides pointed out that Palo Alto's rates are going up while PG&E's are going down.I want to know more about that too. It used to be that having City owned utilities would be a plus for Palo Alto residents, and indeed in the past it was less expensive. Not any more!


Posted by Webster&Forest
a resident of Downtown North
on Jan 19, 2009 at 5:03 pm

This article mentions that "A specific amount has not been named because not all governments have reported what they've lost". I believe the scope of losses due to the bilking of local government funds by Wall Street is enormous and has barely been realized. If the extent of losses were truly revealed, government reps would face a huge backlash for allowing this to happen. Instead, they are quietly begging for TARP money in hopes that enough constituents won't notice. Those in positions of making the decisions about where to place the millions/billions of lost dollars of taxpayer money should be held accountable. Any "incentives" given to them for making risky investment decisions should be punished in addition to the litigation over brokerage deception. No matter what the outcome, the reality is that the money is now lost. Yet Wall Street insiders are enjoying the enormous fees and other compensation paid out to them for "hooking" these government funds.


Posted by rem
a resident of Charleston Meadows
on Jan 19, 2009 at 9:23 pm

Gee, BUT NOTHING about a new Base Exchange and Commissary at Moffett..

At Moffett Field, The Bay Area Congressional Delegation needs to make a Base Exchange/Commissary combination their FIRST priority. The Bay Area Congressional Delegation needs to ask why is DeCA not getting assistance in securing land on/at Moffett Field. The Bay Area Congressional Delegation needs to ask NASA, Army, Navy and Air Force – WHY?

It would be nice if The Bay Area Congressional Delegation *CARED*...

Money for the local governments BUT nothing for the MILITARY.....


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