Foreclosures Prompt Cities to Make Plea for Aid

[katty]

more:

http://www.nytimes.com/2008/01/24/us/24mayors.html?_r=1&ex=1358830800&en=a6ac5cee9838d0ad&ei=5088&partner=rssnyt&emc=rss&oref=slogin

Foreclosures Prompt Cities to Make Plea for Aid
By IAN URBINA
Published: January 24, 2008

WASHINGTON — Facing a collapse in the subprime mortgage market that has pockmarked their cities with vacant houses and crippled their budgets, the nation’s mayors pleaded Wednesday for a huge infusion of federal aid.

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The United States Conference of Mayors (usmayors.org)As more than 250 mayors gathered in Washington for the winter meeting of the United States Conference of Mayors, many agreed that the collapse of the subprime market had left a growing problem of vacant houses, depressed property values, tighter credit, and a need to cut services to close municipal budget gaps.

“It’s an economic tsunami that is hitting our cities,” said Mayor Douglas H. Palmer of Trenton, the president of the conference. “We need federal action not six months from now, but within the next 30 days.”

[Double T]

1. I'm sure the anti-recession checks will cure the ills of the cities coffers.

:silly:

[enid602]

2. ????

Will the last person to leave Phoenix pls turn off the lights?

[katty]

3. oyeah, those chumpchange checks will surely fix this mess!