Monday, December 03, 2007

Foreclosure Community Meeting this Saturday

I got a nice email from Shelley Sheehy in response to my previous post about the home mortgage foreclosure crisis.

I think that being conservative means a laissez-faire attitude toward enforcement and that is precisely what had gotten many people into the foreclosure situation. When the bank regulators do not enforce fair lending laws or CRA requirements to serve LMI and underserved populations, the predatory products flourish. Not to mention the fact that many of these products were securitized by the investment side of the bank and encouraged through the formation of subprime affiliates early in the history of this debacle. Blaming the consumer is a common practice, but there should be some accountability for Wall Street before any bailout is considered. Conservatives also advocate bailing out Wall Street before the neighborhood.

I have attached the schedule for a Foreclosure Community meeting this Saturday.

Shelley Sheehy
River Cities Development Services
1400 East River Drive
Davenport, Iowa 52803


Board Member, National Community Reinvestment Coalition
To learn more about NCRC, visit our websites at: or

Proposed Agenda for Foreclosure Summit

Saturday, December 8, 2007 8:30 a.m.-1:30 p.m.

The Quad Cities Reinvestment Coalition (QCRC) is sponsoring a Foreclosure Summit, Saturday December 8th beginning at 8:30 a.m. and ending at 1:30 p.m.

QCRC is convening this meeting in an effort to bring all community resources together to educate ourselves on the extent of the problem and to form a working group to address issues that have come about as a result of the this crisis.

We will meet at the Kahl Building in the 10th Floor Conference Center located at 3rd and Ripley Streets in downtown Davenport. Senator Chris Dodd, Chairman of the Senate Banking Committee is scheduled to speak at 11:30 a.m.

Again, this meeting is not designed for those who are in the midst of a foreclosure, but to form a community support system drawing upon federal, state, and local resources in the public and private sector.

8:30-8:45 a.m. Registration and Continental Breakfast

8:45-8:50 a.m. Welcome and Orientation to the Schedule for the Day

8:50-9:05 a.m. Congressman Phil Hare (tentative)

9:05-10:35 a.m.

Identification of the Problem: Foreclosures in the Quad Cities

· Context from a National/State Perspective: Stephanie Preush-Iowa AG Task Force

· Discussion of Local Situation: Brooke Upton/Dawn Mutum-Plies

· Implications for the Local Economy: Jerry Anthony U of I- Bob McGivern-Koester/McGivern Appraisals

10:40 a.m.-11:50 p.m.

Resources Inventory

· Federal: Senators/Congressional Representatives

· State: IFA/AG/IHOEP (Illinois Resources)

· Local: Non-profits/Cities

· Financial Community Response: National/Local

Senator Dodd will speak at @ 11:30 p.m.

12:00 p.m.-1:30 p.m. Brownbag Working Lunch

Community Response: Interactive Session

· Intake/Counseling Support/Gaps in Service

· Monitoring and Updating the Community

· Communication with State and Federal Resources

Since we plan to provide lunch-attendees will need to reserve a spot by emailing

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