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Cat-loving chihuahua suckles seven abandoned kittens
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Browns vs. Lions live …
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Akron trounces Howard to reach .500
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Seven players added to Tribe’s 40-man roster
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Robiskie, Harrison inactive
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Kent State blown out in second half, loses to Temple 47-13
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Gameblog: Cavs vs. Philadelphia 76ers
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OSU – Michigan college football rivals meet in Baghdad
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Four area football teams play tonight
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The Sunday Sanity Challenge
Blog of Mass Destruction:
Will Health Care Reform Pass?
Akron Law Café:
Health Care Financing Reform: (69) The Brookings Institute Study on "Bending the Curve" – Four General Strategies
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Vintage Chic
Car Chase:
TIME TO GET YOUR COLLECTOR CARS WINTERIZED
Let's Talk Real Estate:
Silverdome Potentially SOLD!
Ohio Travels with Betty:
George is looking for a Thanksgiving buffet in Akron.
Sound Check:
Steely Dan Plays "The Royal Scam" at E.J. Thomas Hall
HRLite House:
A Random Rant on Testing
Akron Gamer:
Nintendo's Mario endures even as games come and go
Published on Thursday, Nov 13, 2008
Duty of a prosecutor
In the Oct. 30 story ''Prosecutors, police at odds,'' it was reported that Assistant Summit County Prosecutor Gregory Peacock, in his closing argument in a murder trial, claimed that Akron Police Detective Bertina King had betrayed fellow officers to protect a gang member.
He apparently did not elaborate further, and the matter has now created strained relations.
As an assistant prosecutor and an officer of the court, it is incumbent upon Peacock to come forward with evidence to back his allegations, which, if true, are a very serious matter.
If Peacock has evidence of wrongdoing on King's part it should be thoroughly investigated by the police or by an outside agency such as the sheriff's office. If substantiated, King should be disciplined or prosecuted if the allegations prove to be criminal.
If, however, Peacock's comment was an offhand remark made in a moment of anger or frustration, he needs to say so immediately. In that case both Peacock and the prosecutor's office owe King and the entire Akron Police Department an apology and Peacock should be disciplined appropriately.
Anything less than a thorough vetting of this matter casts a shadow over both the Akron police and the prosecutor's office and is a serious disservice to the law-abiding citizens of Akron and Summit County.
Charles E. Colitre
New Franklin
Akron's split personality
I find it amusing that the majority of Akron voters voted for an untested Barack Obama, giving more control to our government, but yet took away decision-making from our local elected officials with a spotless track record with the defeat of Issue 8 and passage of Issue 9. I'd like to propose we change the name of our city from Akron to the City of Sybil.
John Mercer
Akron
Let the judge decide?
I have been hearing a lot of ideas on how to solve our economic crisis and foreclosure problem. Some ideas are well-informed and seek to address the root of the crisis while others seek a quick fix.
An idea of particular concern is Barack Obama's proposal to give the bankruptcy courts the ability to modify the terms of existing mortgage loans to lower the principal balance and interest rates, and lower individuals' monthly payments to allow them to stay in their homes.
We all want people to be able to stay in their homes. However, there are several problems with this proposal in addressing the most important issue of the economic crisis.
The failure of many banks and investment firms, as well as our current credit crunch, can be traced directly to these institutions' investments in asset-backed securities or pools of mortgages. Due to high mortgage-default rates and prolonged and increasingly severe decrease in the value of real estate, these pools of assets have become significantly less valuable.
In fact, in its current state, the market cannot accurately value these assets or pools, therefore these pools cannot be traded and this has severely reduced the liquidity of these institutions.
These pools of loans do have value, and eventually this value will be determined and these assets will again be able to be traded, unless Obama's plan is adopted.
Imagine trying to value a pool of loans where the principal balance of the loan is subject to change on the whim of a bankruptcy court judge. Now, let's consider the fact that the government soon plans to purchase some of these pools and resell them when the markets settle down. Will these pools be able to be valued and sold, or will the American taxpayer be left with the bill?
Bob Hoose
Uniontown
Duty of a prosecutor
Get the full article here.
Comments
Click here to post your comments
Memory Alpha, OH
Posted 05:01 AM, 11/13/2008
Bob Hoose:
I realise that this whole pooling issue creates an extremely complicated problem of tracking these assets. I am wondering if it is possible that we can provide bail-out loans for homes, whereas the principal loan amount should stay the same.
The purchase price for the home was known by the consumer; the value is always at risk. I would be satisfied with re-negotiating the loan for these people, only.
What is disturbing to me is that home purchases of late have been looked at as money-making investments. In that respect, a home is the worst kind of investment, except for the fact that you have a place to live, possibly the rest of your life. If these people bought their home with the thought of selling it at a profit after reaching some level of equity; well I just think that's stupid.
As far as the risk taking financial institutions, well they should eat the losses if loans cannot be paid. If they fail, so be it. I am absolutely against us taxpayers continuing to pay for their greedy practices.
Posted 07:13 AM, 11/13/2008
There are interesting statistics in an article titles "Net Drain In Home Ownership at the website for the center for responsible lending. The stats are for 1998 - 2006
15,175,609 sub-prime loans loans originated
56% of those loans were refinances
38% of those loans were for home purchases and of those 9% of those were for first time home owner
Their conclusions are that 29% of all the sub-prime loans were for second or investment homes -- and 56% of all sub-prime loans were refinances.
Should we reduce the principal loan amount for those people who chose to get a second or investment home or should we reduce the principal loan amount for those people who took equity out of their home and spent it and now have to pay it back. I don't think so. It is very complicated.
Posted 08:56 AM, 11/13/2008
@Nick
Amen. This is the right perspective. Unfortunately, this informed, sensible approach will not see the light of day in this Congress.
Posted 11:19 AM, 11/13/2008
John Mercer has absolutely NO IDEA what it is like to be a middle- or working-class Akronite. He is completely out of touch with the everyday lives of most people.
Don't believe me? Take a look at a a recent gift he made to an auction at The Akron Art Museum:
Visit the Mercer house, “Wingfoot Landing,” on beautiful Nantucket Island. A two night, three day stay for two couples during the 13th Annual Nantucket Wine Auction in May of 2009. Includes a guided tour of the island and a wine dinner hosted by John Mercer. Dates subject to change. Does not include airfare or Wine Festival fees.
Value: $2,000
Donated by John and Vicki Mercer
Vatican , It
Posted 04:02 PM, 11/13/2008
Hey, Johnny Mercer, I find it amusing that you would have voted for a "tested" Bush for a third term!!! Must be lots of Kool-Aid out there on Nantucket, where all you middle-classers hang out. Those Kool-Aid festivals can really be enlightening as far as control goes, right? You'd rather live in a United States where the Executive Branch keeps grabbing more control in a Fascist way rather than adhereing to the "checks and balances" inumerated in the Constitution, right? Your last name reminds me of a line in a great Marvin Gaye song, Mercy, Mercy, Me:
"Things ain't what they used to be..."
And that's what you're really afraid of post 1/20/09....Because your "party" will then be officially on the brink of extinction and the other "party" just might get something done to solidify it.......
Vatican , It
Posted 07:07 PM, 11/13/2008
Hey Johnny, Pauly, Pedro and all the rest of you Kool-Aid drinking right-wing commenters who are totally rudderless now: Here's a few recent quotes from the candidate you voted for who could have been half a heart beat from the Presidency:
“I’m like, O.K., God, if there is an open door for me somewhere — this is what I always pray — don’t let me miss the open door,” she said. “Show me where the open door is, even if it’s cracked open a little bit, maybe I’ll plow right on through that and maybe prematurely plow through it.”
And:
“My concern has been the atrocities there in Darfur and the relevance to me with that issue as we spoke about Africa and some of the countries there that were kind of the people succumbing to the dictators and the corruption of some collapsed governments on the continent, the relevance was Alaska’s investment in Darfur with some of our permanent fund dollars.”
You "Kooks" voted for this. You "Kooks", because of your "religious" and "party" fervor had no qualms about the possibility of this nutcase becoming President of the United States! And you have the unmitigated gall to even question Barack Obama.........Kooks, Kooks, Kooks............
akron , oh
Posted 08:18 PM, 11/13/2008
does robert have an off switch?
mogadore, oh
Posted 08:21 PM, 11/13/2008
Hey Johnny (Big Bucks) Mercer: How about that Sarah Palin gal!!!! A blithering idiot that was a heartbeat away. Thank God that KOOKwas sent packing to The Great White North.
Posted 07:12 PM, 11/14/2008
Interesting how Robert, among many others among the Libs, seems to hang on Mrs. Palin's every word.
SHE LOST!! Get over it. You are obviously afraid that you will have nothing to offer to these forums if you don't have a Republican to skewer.
