Today's news tells us that the federal government is going to bail out sub-prime borrowers by extending the initial teaser interest rates up to five years. While my initial reaction is to criticize the expectation that the government save those who lack personal responsibility, I recognize that many of these bad loans never should have been legal in the first place. The feds wouldn't have to fix this mess is they hadn't created it.
Legal Blog of Thaddeus M. Bond, Jr. Associates
Serving Waukegan, Libertyville, Lake County, Gurnee & nearby areas of Illinois
Proposals have begun to circulate for the expansion of the Lake County courthouse in Waukegan. While it will undoubtedly be quite expensive, more space is sorely needed. Anyone who was has ever visited a courtroom for a 9:00 call can attest to the severe overcrowding in most courtrooms. It can be very difficult for judges and lawyers to get anything done when there is no place to sit and no room to move around. Separation of the criminal courtrooms from the civil courtrooms is an excellent idea.
The news is filled with stories detailing the severe increase in the number of homes going into foreclosure. Those of us in touch with the real estate market saw this coming several years ago. "Professionals" of all stripes manipulated their customers into taking on sub-prime loans to buy homes they otherwise could not afford. Why? Trying to grab as much money as the mortgage broker or realtor could while the iron was hot.
As a proud alum and former captain of the football team, I really enjoyed attending the Carmel Catholic-Lake Zurich Class 7A semifinal game this past Saturday. Although Lake Zurich came out on top, it was a hard fought game by two very well coached teams who showed great respect for one another. We Carmel folks can take pride in the repeated success of our program and how well our student athletes represent all of us. Go Corsairs!
I recently had a discussion with another lawyer about the role of God in government. The conversation arose over the possible filing of a lawsuit to remove a display of the Ten Commandments from a municipal building. This issue reached our area after other jurisdictions have insisted on removal of such displays. I for one think the display should be left alone.
The ongoing power struggle in Pakistan has caused many in the legal community to reflect on and appreciate our role in an organized society. It is hard to imagine the entire court system here in the United States being shut down and its participants jailed merely because a dictatorial leader is trying to hold on to his position. Our government has many flaws but the separation of powers between the executive, the judiciary and the legislature is not one of them.
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