Dole
Hagan
Burr
Watt
" ?
Foxx
Carter
How did your representative vote on the bailout?
CHRONICLE STAFF REPORT
It seems that the members of the state's
Congressional delegation that are facing tough
re-election contests voted thumbs-down last
week on the more than $700 billi<ta Wall Street
bailout plan, or the Economic Rescue Package,
as it has come to be called. Both the Senate and
the House passed the package, which was
signed by the president last week. It is still
unclear if the package will pump life into the
economy.
Republican Virginia Foxx, of the Fifth
District, voted no because she believes that it
will not.
"This plan does not address the underlying
causes of today's financial crisis, it contains
billions in pork from the Senate and it puts tax
payers on the hook for Wall Street's bad invest
ment decisions. I can not vote to support such
an ill-advised plan," she said in a statement.
Democrat Roy Carter, who is challenging
Foxx, called her decision not to support the
package a bad move that put the Fifth District's
and the nation's economic future in jeopardy.
"Virginia Foxx helped create the problem
and now she's unwilling to be part of the solu
tion," said Carter. "She cares more about get
tir^ re-elected than she cares about the econo
my of the district."
Democrat Rep. Mel Watt, the longtime rep
resentative of the 12th District, voted for the
package.
"We have no choice but to try to address the
credit and economic crisis that we are in the
middle of," said Wan, who praised the addition"
of increased FDIC insurance coverage for con
sumers in the revised legislation.
Republican Cobb Jr., who is challenging
Watt, did not have a response to the legislation
posted in the "News Releases" section of his
Web site.
Republican U.S. Senator Richard Burr half
heartedly supported the measure.
"Like many North Carolinians, I am very
concerned and angry about the circumstances
that have brought our country's economy to the
brink and that now necessitate the Congress to
act," he said. "But as a public servant, and as
an elected representative of North Carolina, I
do not believe I can sit by and let this country
fall into the worst economic state that it has
ever faced."
Burr is not up for re-election this year.
Fellow Republican U.S. Sen. Elizabeth Dole is,
however. She did not support the measure.
"Action is clearly needed to return stability
to our financial markets, but most importantly,
effective, sound action is needed. To fix the
markets, we must deliver a market-based solu
tion, not a government bailout," Dole said.
Her Democratic Challenger N.C. Sen. Kay
Hagan said that she too wouldn't have support
ed the package.
"I support this legislation's goal of freeing
up the credit markets to stimulate an economy
on the brink, but I would have voted against it
because it doesn't do enough to protect every
day North Carolinians," said Hagan. "It's a fix
for Wall Street, not Main Street, and this isn't
a situation where we can afford to only address
half the problem."
Burke
from page A1
opportunity to serve as an inspira
tion. Adults, he said, share some of
the blame when kids stray.
"I feel that students are very
important, and if we don't get their
attention at an early stage, then it's
our fault sometimes when they
don't (become) leading citizens or
have some positive contribution to
the community," said Burke.
Burke spent most of his time
answering students' questions. One
query focused on why so many
black males are entangled with the
court system. The topic was on the
mind of many of the kids. All the
- students in the class are African
American or Hispanic, and many
are male.
Burke told them that they
shouldn't be discouraged by nega
tive statistics about ? African
Americans and the legal system. He
added that as long as they strive to
do what's right and reach for their
dreams, they'll be okay.
"I don't let statistics like that
dictate who I am, and none of you
should let statistics dictate who you
are," said Burke.
Photo by Todd Luck
A student listens to Judge Todd Burke.
When asked why the judicial
system is important, Burke pointed
to its ability to resolve conflicts in a
cabn, civil matter. He said the judi
cial system acts as a way to deter
violent solutions to conflicts.
"Violence is the tool of the igno
rant," said Burke.
In North Carolina, Superior
Court judges hear all felony crimi
nal cases, civil cases involving more
than $10,000 and appeals from
District Court. Although Burke is
based in Forsyth ?ounty, he and all
the state's Superior Court judges
rotate among the districts every few
months. The system is intended to
avoid favoritism that may arise if a
judge hears cases in a single district
for an extended period of time.
Some of the students' questions
were not of such a serious nature.
Such as the one inquiry about the
origins of judges and the long robes
they wear. The students grew wide
eyed when they found out that
judges in the state can make more
than $100,000 a year. The curiosity
about the judge was nearly infinite.
Even when the class period came to
an end, hands continued to shoot up
and questions continued to be asked
and answered.
Wagstaff was pleased that Burke
took time to visit her class. It's a
win-win, she said, when she can
integrate the students lessons with
strong, positive role models from
the community. She said in Burke's
case, he not only taught her kids
about the judicial system but also
about character and behavior.
"(I wanted) them to begin think
ing about their character an0 behav
ior and... how it can effect their
future if they want to make it and be
successful." said Wagstaff. "I want
them to progress and not regress."
Ellison
Jbmm X7
ordinarily would not qualify to participate
in the "American Dream".
The pursuit of the American Dream in
owning a home has turned into the
American Nightmare. Our economy is suf
fering at a record level, with financial
heavyweights, (IMG, Lehman Brothers,
Washington Mutual, to name a few) going
out of business on a daily basis. Main Street
will soon feel the trickle down effect s of
Wall Street's horror story. This past sum
mer, legislation was enacted by Congress to
address the mortgage crisis. The
"Foreclosure Prevention Act" is not a cure
all, but is a step in the right direction.
The Foreclosure Prevention Act was
signed by President George Bush on July
24, 2008. The main thrust of the legislation
allows homeowners who are in an "upside
down mortgage" (a mortgage where you
owe more than the house is worth) to refi
nance into a more affordabl^j|R\ insured,
fixed mortgage. Your currentlender has to
agree to waive the amount of yom loan
above its current value, but this amount
would be considered a tax write off for the
lender. Also, the lender would prevent the
inevitable consequence of having but
another foreclosed home on their books.
Mortgage giants Wells Fargo and Bank of
American have announced their participa
tion in the program.
To prospective home owners there is
reason to be alarmed. For years, new buy
ers were able to participate in a program
called "down payment assistance" - the
seller either financed or paid the buyer's
required 3 percent down payment. With the
passing of the Foreclosure Prevention Act,
down payment assistance is abolished.
Thus, prospective homeowners are now
required to pay 3 percent of their purchase
price at closing, in addition to closing costs
and upfront FHA premiums. This is a
dreadftil turn of events and will prevent
many people from buying homes. To bal
ance this hardship, a $7,500.00 tax credit is
allowed for first time home buyers who
purchase homes between April 9, 2008 to
July 1, 2009. The tax credit is helpful to
those who have the funds available, but is
of no consequence for those who cannot
afford to pay an extra 3 to 4 thousand dol
lars at closing.
The Foreclosure Prevention Act also
provides funding for mortgage counseling
and greater regulation of the mortgage
industry. These additional components are
needed. The refinancing of upside down
loans throws a life line to borrowers on the
brink of foreclosure, but for many, it may ?
already be too late. Most notably, the days
of no money down or 100 percent financing
are over and prospective buyers have to pay
a considerable down payment to buy that
dream house. This will inevitably slow our
housing market, but is a reasonable
response to the housing mortgage excesses
of the past seven years.
Eric S. Ellison is the president of the
Winston-Salem ' Bar Association. Attorney
Ellison has practiced in the area of Real
Estate Law for the past nine years.
PFLAG
from page A7
fathers, PFLAG has 200,000
members and supporters.
Four of the main awards
that will be pre
sented will go to a
local individual, a
business, a faith
community and a
community organ
ization that best
exhibits the
PFLAG mission of
"support, educa
tion and advoca
cy" for GLBT
people in the com
munity ana wunin
their respective organiza
tions.
Clare Fader, and her
band, the Vaudevillains, will
provide entertainment. The
group's genre-defying sound
has been entertaining audi
ences for the last five years.
The band's cabaret blend of
jazz, pop, and world music
has also caught the attention
of MTV. Seven of Clare
Fader and the Vaudevillains'
songs have been featured on
thp network's Inn a
running reality
show, "The Real
World."
Many local
fans remember the
band's critically
acclaimed 2004
performance with
the Winston-Salem
C \r try n h a n t/
if iilinT 4
Farmer
Released last
December,
"Seventh and Trade" is the
band's latest CD.
"There are many in our
community who know and
love Clare Fader and the
Vaudevillains. We are very
excited to have them perform
at the gala. Clare and her
band bring an element of
style, sophistication, and ele
gance to our event that will
definitely kick it up a notch
this year," said Thomas
Farmer, president of PFLAG
Winston-Salem chapter.
Rick A. Anicetti, presi
dent and chief executive offi
cer of Food Lion, will give
the keynote address. Anicetti,
who oversees the retail oper
ations of more than 1,200
Food Lion stores and six dis
tribution centers in 11 states,
will share his company's cor
porate values related to
diversity and the inclusion of
GLBT employees.
"We are very proud and
fortunate to have Mr. Anicetti
speak at the gala this year.
We are looking forward to
hearing him make the busi
ness case for GLBT equality
and full inclusion in busi
nesses small and large," said
Farmer. "Mr. Anicetti has
shown visionary leadership
on diversity and GLBT
issues at Food Lion, LLC. I
believe all of us can learn
something from him that can
help us in the places where
we work and in our lives."
Tickets to the 2008
Kaleidoscope Gala are $50
for adults and $35 for sen
iors/students and must be
purchased in advance. For
more information about the
2008 Kaleidoscope Awards
Gala or to purchase tickets,
go to
www.pflagwinstonsalem .org .
I ? Walk with the World
Help fight
hunger In our
community,
our nation,
and around
a ? ? -i.i
ini wono.
Form ? taam or
walk m an Individual!
Sunday, October 19
Rwlttntton it 130
1 VI IiOTi
Walk a( 2:30
3 LOCATIONS!
Cofpminj Ptui ? WlmtavWifn
4lhofJulyP?1cK*mMvli
T?ngi?wood Plrt 1 CI?mmon?
MMMlMMfttoMI
Your CROP Hungar Walk fundi raacuad thata two Haitian girls from a daaparata i)um
piaguad by powrty and erima. In lha ufe havan of a boarding aotiool In Port Au Piinoa,
thay raoafca hopa, opportunity, and an aducatlon - aomaMng only J% of tha population
haa avaf axpariancad.
To ?lfn up plaasa eontaet Judia Holeomfe-Paek at 724-7878 x 1040
?r wnall Jhaloomb-paokOorlaltcontrol.org
i i
m
PUBLIC
HEARING
The Utility Commission Review Committee
wants to hear from citi/ens about:
? the extension of water and sewei
those servk es <?< funded fl
? elected representation on the ll
the need for future solid I
Cou ty inc luding a new municfl
" ?
the n< ? fl for waste reduction aH
:es. including how
Come to the public hearing:
5 p.m. Thursday, Oct. 16
Winston Room, LJVM Coliseum
2825 University Parkway, Winston Salem
The ? City C ouncil appointed the committee to study the
community's water, sewer and solid waste disposal
needs and to confirm that the Utility Commission is
operating according to best practic < tandards g
C iti/ens who cannot attend may offer
comments online at cityofws.org or by
calling the Citi/en feedback line, 7H4 MOO \\lllSl
t