Three former Republican governors of Louisiana are urging President Bush to take a "second look" at Rep. Richard Baker's plan for rebuilding New Orleans and other areas of the state that lay in ruins."The bottom line is this: it is difficult to understand how Louisiana rebuilds if the landscape is littered with the remains of over 200,000 unusable homes and business properties," the former governors say in a letter to President Bush. "Something has to be done about them, or else the alternative is that they lie like ruins, tied up in a legal mess impenetrable to the private market, for years and years to come." Former Govs. Mike Foster, Buddy Roemer, and David Treen stress that the Louisiana Recovery Corp. proposed by Rep. Baker, R-La., could "make a difference for all the folks financially tied up in these properties." Bush administration officials informed Rep. Baker on Jan. 23 that they oppose his bill (H.R. 4100) to create a government corporation to oversee and finance the cleanup and rebuilding of New Orleans and other hard-hit areas of the state. "[W]e feel a special need to give you a sense of the real disappointment in the state following your administration's announcement not to support Richard Baker's Louisiana Recovery Corporation bill," the governors told the president.
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Flagstar shareholders approved a plan to merge its holding company into the bank; Huntington tapped a new chief auditor, along with two new business leaders; First Foundation hired a new chief credit officer; and more in this week's banking news roundup.
October 17 -
Approximately three years after the one-time non-depository bought Roscoe (Texas) State Bank, Cornerstone Capital Bancorp agreed to purchase Peoples Bancorp.
October 17 -
Regulators also accused Southern California-based E Mortgage of failing to properly supervise remote employees and cooperate with their examinations.
October 17 -
While borrowing activity increased from a year ago, seasonal patterns and economic concerns suggest near-term slowing, the Mortgage Bankers Association said.
October 17 -
Solve stages an acquisition, Intercontinental Exchange partners on new indices, Optimal Blue adds updates and Incenter offers a CRA loan trading platform.
October 17 -
LendingTree found that during 2024, May's median price for a 1,500 square foot home was $194.20 versus January's $178.60, a difference of $23,400.
October 17