The California Democratic Party Opposes the Mortgage of All Public Property to Banks and Other Financial Institutions

Resolution Number 11-04.56

Whereas, our public property, including, but not limited to Public Housing, Parks, Libraries and Schools, are a common good and a treasured asset to our country that must be protected from private encroachment ; and

Whereas every mortgage brings with it a risk of foreclosure and subsequent loss of that property to a financial institution, as we have seen in the private mortgage crisis with millions of homes foreclosed upon across the country; and

Whereas, a mortgage on public property relies on taxpayer money being funneled into paying off private interest to banks for decades, leading to a greater chance of foreclosure or sale to private financial interests in the event of budget cuts.

Therefore Be it Resolved that the California Democratic Party opposes the mortgage of our public property, including, but not limited to, Public Housing, Parks, Libraries and Schools; and

Therefore Be it Resolved that the California Democratic Party send a copy of this resolution to the Democratic Congressional delegation, the U. S. Secretary of Housing and Urban Development, the U.S. Secretary of Education, and the U.S. Secretary of the Interior.

Authors: Susan Shannon 42

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Adopted by the California Democratic Party
At its July 2011 Executive Board Meeting
Sheraton Park Hotel, Anaheim
July 31, 2011

 

 

 

 

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