Report: Rep. Richardson had eight defaults on three homes

The latest on the Laura Richardson mess, from the enterprising Gene Maddaus at the Daily Breeze: "Rep. Laura Richardson, D-Long Beach, whose housing woes have been national news for the past week, defaulted a total of eight times on three properties since 2004, a thorough review of county records indicates."

"Records show she has defaulted five times on her primary residence in Long Beach -- including three in the last year, as she diverted her private resources into her campaign for Congress."

Maddaus reports that Richardson's trail of missed payments dates back to 2004 -- long before the run of job-hopping she has said was partly to blame for her various missed mortgage payments.

Analysis: This began as a serious story about a member of Congress and how she handles her personal and campaign funds. But it's morphing into a garden-variety story about a person who has trouble paying her debts and happens to be an elected official. I still wonder, though, why her lender agreed to modify the loan on her Sacramento residence, which was her third house.

Your thoughts? Comments? E-mail story tips to peter.viles@latimes.com.
Photo Credit: L.A. Times

Comments

[TakeFive]

Peter V. wrote:

"I still wonder, though, why her lender agreed to modify the loan on her Sacramento residence, which was her third house."

Yeah, that's a puzzler...

"Hello, Countrywide? This is Rep. Laura Richardson, D-Long Beach, and I'd like to discuss a loan modification. I'm sure we can work out some mutually agreeable terms"

Or as they say in her district: "We cool, right?"

[mark g]

She is obviously a student of prof. Hillary Clinton math class...

[RZ]

"This began as a serious story about a member of Congress and how she handles her personal and campaign funds. But it's morphing into a garden-variety story about a person who has trouble paying her debts and happens to be an elected official."

I disagree. The analysis says that Richardson "diverted her private resources into her campaign for Congress." Seems to me that her spending prioriities were messed up. Also, we shouldn't diminish the fact that she is a member of Congress. Here is someone we should hold to a higher standard to reasoning as she makes decisions on how to vote on congressional bills - which affects us all. How can we expect her to vote intelligently on housing or economic bills when she can't keep her own mortgages in order?

[Duke of Moral Hazard]

With due respect to the blogmaster: WTH?

Come on, you're just baiting us with that one, right?

This is actually morphing into a story that is showing us how bad things have become. Partisanship be damned.

She's portrayed in articles and personal anecdotes as a manipulative shark with no conscience whatsoever. We have yet to see anything that discredits this notion. The reports: Stiffing her local printer for campaign materials, being sued for voter fraud (has this been confirmed?), coming in $5,000 over budget on her MLK parade -- defaulting on loans 8 times over the past years on the 3 properties we know about. 4 years of college, MBA program... does she have student loans out there too?

How can there not be fraud involved in her mortgage applications. How in the world can it even be conceived that she did not receive some sort of preferred treatment when it came to her defaults and new loans. Who the heck is supposed to be investigating this, and why hasn't she resigned yet?
She's shoving it in your faces, and laughing.

Not the least bit concerned that she's up for re-election on June 3, that this woman sits on committees in congress, that a woman in her position is so open to compromise that .

Don't let this one go people. And would someone in the know please let us know how to initiate an immediate investigation before something else happens that will draw our attention away from this?

Unions: this is who you endorse?

[Geri Mander]

From an article yesterday at the Long Beach Press Telegram:

"Richardson said she isn't concerned the news will affect her re-election bid.

"I'm concerned that I can take what I learned from this to help somebody else," Richardson said. "I think I can now be a huge asset to the American public.""

Her primary is coming up in a matter of days? Don't let this happen folks. And this time, maybe the ballots can have other names on them besides Richardson's (supposedly some people in senior living centers received ballots with only Richardson's name on them). Please keep us posted on how her demurrer comes out.

[cas127]

"Analysis: This began as a serious story about a member of Congress and how she handles her personal and campaign funds. But it's morphing into a garden-variety story about a person who has trouble paying her debts and happens to be an elected official."

Hello?

This seems like a complete non sequitur - if she has *8* defaults going back to 2004 (how could you not refi/sell your way out of distress in 2004, 2005, or 2006? The deceased were getting Alt-A's during those years for chrissake...) then it seems inarguable to me that she is either utterly incompetent or utterly corrupt when it comes to economics.

In either case, it is a perfect reflection of our utterly degraded political system.

Bravo for staying on top of this story but boo! for this completely puzzling shift in tone.

Given the facts, it seems almost impossible to view the Rep as innocent here.

I'm just scared that your shift in tone is a prelude to henceforth ignoring the story.

Are you getting pressure from your overlords at the LAT?

Given the LAT's historical (and laughable - look at its circulation collapse) liberal bias, it would not surprise me at all.

Don't cave in.

Please. Y

You probably already have a readership that dwarfs that of more "established" and "respectable" liberal goons at the LAT.

[Milla]

Or as they say in her district: "We cool, right?"

i love how no one bats an eyelash at this. coupled with JK's comments on how the mexicans ruined california and the blatant misogyny on display in the comments for the NYT piece (don't worry, Cal, i'm not talking about you), this blog has been quite incredible these past few days.

[Geri Mander]

Good point Cas.

Pete could probably spin off onto his own blog and make liveable advertising dollars and contributions. I'd pay $25 per month to have someone of his caliber "keep it real."

He isn't your garden variety journalist.

In a related note, judge just threw out the lawsuit against Richardson. It was filed too late, it wouldn't make a material change in the number of valid votes, blah blah blah. Your tax dollars at work. The plaintiff (competitor for her seat) is trying to get it heard by another judge.

http://www.presstelegram.com/ci_9417510

[deBeer]

Typical liberal. Do as I say and not as I do. Oh BTW You can also pick up the tab for my actions. Unreal

[TakeFive]

Milla wrote:

"i love how no one bats an eyelash at this… this blog has been quite incredible these past few days.”

Oh Milla, give it a rest...aiight? Peter's already got the job of Blog Marm (and all the summer internships for internet scold are filled, so don’t bother applying).

Glad we can keep you coming back for your daily requirements of self-righteous indignation. Be sure and click on the links for our sponsors!

[JK]

Milla,

Don't take my comments out of context. I believe illegal aliens ruined California, not Mexicans per se. Political correctness aside, most of the illegal aliens are Mexican and I stand by my belief.

[Milla]

but we cool, right? we're still playing golf at the country club this weekend, right?

think about your comment. you can make your same point without cheapening it with a racial stereotype.

[Dave P]

I know I'm in the extreme minority here, but I'm still of the opinion that there's not much story here. People who expect their representatives to be this holier-than-thou saint are going to be disappointed every time.

The last time I checked, our elected officials were human beings, and humans have failings. No, I don't expect them to be thieves or complete dolts, but if they get behind on their bills or cheat on their spouse or drive 8 mph above the speed limit I just don't care.

This woman is terrible at managing her finances. Agreed. She is a would-be flipper. Agreed. So what. Looking at the NOD stats it looks like she's in league with more than a third of the population. Hell, she's from Sacramento. I think she represents the majority of her constituents. Aren't they all in default up there?

[Harvey Korman Fan]

Dave, no, no, and no. Her constituency is right here in ground zero district 37. We expect them to have failings, but we don't expect them to be unrepentant thieves (at least to our faces). We don't expect them to steal elections (at least on the local level).

We don't expect them to have so little regard publicly for others that they actually appear "evil." No, that would not be good for us. We don't want someone in office who defrauds (with collusion or not by lenders) the american taxpayer. We don't want people like this to get re-elected next tuesday.

We don't want sociopathic automatons sickening our government and cheapening our country (and its real estate) Still don't see the story here? Then you probably come to the blog for very different reasons than I do, or hopefully others do.

It's nice to see your honesty about how unimportant these issues are to you. On the other had it saddens deeply.

[Michael Snyder]

Dave P & Milla,
This woman's a no-load, lying, cheating thief. That in and of itself should qualify her for Congress. Her financial failures could be blamed on her California quality education except she sure could fill out those loan apps. Seems she's pretty good at deposit slips too.
Yes she's female & black so I guess we all should be afraid to call her the convict in training she is.
I don't know how you pay your bills, but I bust my butt & I'm up to my eyeballs with politically correct incompetent thieves making off with over a third of my income to spend it on what? Medical care for illegals while citizens go without? Bailing out her fellow no-load incompetents? Searching for WMDs? I know! Let's do a study to see if gay unions will produce children.
I want my tax dollars and my country for that matter; to be run by people who can do the little things like balance their checkbook, tell the truth & set some sort of appropriate example for their constituents to follow.
Seems to me Rep. Richardson couldn't tell the truth about the time of day. Maybe you'd like to check your watch. (or if you still have it if she shook your hand)

[JK]

Harvey Korman fan: We don't want someone in office who defrauds (with collusion or not by lenders) the american taxpayer. We don't want people like this to get re-elected next tuesday.

Please tell me you are joking... this statement is either a bad joke or you are incredibly naive. Washington, Sacramento and the like are made of nothing but crooks that have turned ripping off the taxper into an artform! For some reason, you all are laser focused in on Ms. Richardson when her actions are mere child's play compared to the rest of Congress. Dave P and Milla are right, there is no story here. You guys need to lay off this woman. She has no intention of resigning, she will be re-elected and howling into an anonymous blog will not stop any of that.

Let me ask you this, why are you all so focused on her and not on the larger frauds in Congress? Dying to hear the answer to this one!

[Michael Snyder]

Milla,
One other thing: When you talk to your buddy, rep. Richardson, please tell her to fire her stylist. Those colors were passe in 1990. "Classic" styles are muted. The good news is when she "completes her training" orange will be the only color in her wardrobe. (guess she'll have to ditch the dye job)

[buz]

Who votes for riff-raff like this? The wise liberal wizards constantly say we NEED to modify/adjust/revoke Prop 13 so that "leaders" like Laura Richardson and others of the same mold (Fabian Nunez, Don Perata etc) can frivolously spend more of our money? They bribe unions with outrageous salaries and retirement contracts with our tax money then live high on the hog with lobbyist money and cmpaign donations. Nothing but a bunch of PIGS. Fire them all.

[Harvey Korman Fan]

JK: Lack of accessibility and opportunity, for two things. There are much smarter, much more powerful people than our blogging compatriots here, that oppose the rottenest of eggs in government. These people seem to have had no success whatsoever in containing the largest and most foul corruption - the kind that gets our children killed for lies and the kind that siphons trillions of dollars into the pockets of dozens, the kind that devalues your labor to the point that your quality of life drops before your very eyes, the kind that preys on your vanity and innate greed.

Show us how to get the big ones, and I'm sure we'll do it. Give us the smoking guns. Meanwhile, we can practice on this one. In Laura's case, we have an entire shooting gallery full of smoking guns -- mortgages,houses, stiffed vendors and staffers,and what "seem" to be bald faced lies. She's a weed, JK. The garden is full of them, and we have to start somewhere -- might as well start with the one right in front of us, right now.

I've only begun to get angry because I've had the time to look around myself and see what's going on. Many others are waking up because they're getting kicked right in the pocketbook, and realize its going to get much worse for a long time before it gets better.

Apathy, JK. Apathy is what they depend on. If you resign yourself to this person getting re-elected and staying out of jail, you're in a trance, man. Snap out of it. Give them your apathy, and they will rob you blind. Sounds corny, but this little bunch of bloggers is not alone. I've seen four or five other blogs and even a www.recalllaura.com website pop up. I've seen the online outrage from scores of constituents. Even if she manages to steal another election, she is not beyond reach. It will be that much sweeter to keep her from going back to congress, but if not, no big deal. She might even be able to stall for a few months, but no big deal. C'mon 37th district, show us that you're better than that 9% voter turnout that everyone throws around.

And yes... Poster Child for the Housing Meltdown is definitely germane to the real estate discussion on LaLand. IMVHO

Apologies to those who just like to pop in for the latest stats.

Here's a little treat for those that made it through the post. Please note the "conviction" with which she delivers the speech, the little gems like: "ya gotta do whatcha gotta do," and the importance she places on keeping her word. Sounds like she either had a clap-track or an audience of 3.

http://charleslauren.com/blog/richardson.html

[areles]

"Or as they say in her district: "We cool, right?""

Oh, LOL. You're quite a card, TakeFive.

In other words, that was extraordinarily offensive on multiple levels. If the racism wasn't enough, your ignorance of Long Beach demographics - one of the most ethnically diverse cities in the nation - is.

And your ridiculous racist stereotype isn't even factually correct, as nearly half of Richardson's district is of Latino descent. Although I probably shouldn't have pointed that out, lest you come back with something even worse.

[Nikki]

"Or as they say in her district: "We cool, right?""

I don't know why others are having a problem with "we cool, right?". I thought it was funny and could have just as easily been part of her speech. For those that didn't listen to the speech, she said "...it ain't been easy but sometimes you gotta do what you gotta do".

NOW THAT'S STRAIGHT GHETTO TALK! AIGHT!