Remember how the AG National Mortgage Settlement money was supposed to go to help homeowners (who lawmakers keep threatening to help, since I don’t know, circa 2009, but there’s just never any money left after the taxpayers pay off the TBTF banks, and all of their counterparties, and stuff like that, see Neil Barofsky’s (Special Inspector General for the TARP) new book Bailout) and Governor Jan Brewer and our Arizona Legislature “swept” it (without much fight by Attorney General Tom Horne who cried ‘uncle’ real fast) into some fund for private prisons (because we need to lock up more people to make more profits)? Well, that lawsuit will have a hearing on Wed. Says the Phoenix Business Journal:
A Maricopa County Superior Court will hear arguments Wednesday over the state’s controversial budget sweep of money that was designed to go toward home foreclosure prevention.
The Arizona Legislature and Gov. Jan Brewer approved a $50 million shift of money from Arizona’s Mortgage Settlement Trust Fund as part of a budget deal earlier this year.
The state received $97.7 million as part of a settlement reached between U.S. states and mortgage companies over foreclosure troubles. The money was supposed to go toward foreclosure assistance for Arizona homeowners.