By John Bebow - November 30, 2007
American mayors, led by Detroit Mayor Kwame Kilpatrick, are rushing to get their arms around the nationwide mortgage and foreclosure crisis. Michigan Attorney General Mike Cox joined the fray, too.
Meanwhile, Detroit News ace reporter Ron French demonstrated how big media can still provide great public service journalism with his special report: "The Foreclosure Factory."
Among French's most crushing findings is this one, which once again points to leadership failure in Lansing....
"As Michigan's foreclosure crisis was growing in the fall of 2006, state legislators jumped into action. They took money away from the state office that investigates mortgage fraud. To help alleviate a budget deficit, the Legislature raided $7 million from a fund set aside by law to pay the salaries of mortgage examiners. It would have been enough to increase the number of examiners six-fold."
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