May 19th, 2012
House speaker touts gambling, job-creation efforts
SALISBURY After learning that California is billions of dollars in debt and pays some of its bills in IOUs, Massachusetts House Speaker Robert DeLeo recently sent a letter off to Facebook mogul and Harvard University alumnus Mark Zuckerberg.
I wrote him a note and told him he should come back and run his business back here, and bring all those jobs back to the commonwealth, DeLeo told members of the Salisbury Chamber of Commerce last night. Thats what its all about for us; its jobs.
DeLeo said that after spending time traveling across the state speaking to chambers of commerce, whats struck him the hardest are the problems blue-collar workers have had over the past few years getting jobs after losing them when the economy faltered.
Massachusetts has been in a recession for the past few years, but for blue-collar workers, its been a depression, said the Winthrop Democrat and 21-year veteran of the House.
DeLeo said his successful push to legalize gambling in the state was all about jobs, as well as keeping billions of dollars in gambling revenue in Massachusetts instead of losing it to out-of-state venues. In the not-too-distant future, three casinos and one slot machine parlor will be built in the state, bringing thousands of construction and hospitality industry jobs with them, he said.
According to the gambling legislation, some of the revenue realized will be put aside so that educational institutions like community colleges can apply for funding to create programs that will help students learn the skills needed for the industry, he said.
Another piece of legislation announced recently is an economic development bill titled talent pipeline that will stop the states brain drain, DeLeo said.
Were trying to take talented kids from our colleges and put them together with creative state corporations to keep (the students) in Massachusetts, he said. If you cant tell, I really hate that Mark Zuckerberg left the state.
DeLeo also praised the Houses unanimous passage yesterday of a foreclosure bill championed by state Rep. Michael Costello, D-Newburyport.
Intended to prevent unlawful and unnecessary foreclosures, the bill establishes a procedure requiring banks to offer a loan modification option to borrowers prior to foreclosure in cases where the lender knew, or should have known, that the borrower would not be able to repay. In addition, it prohibits lenders from foreclosing without proper documentation, including written proof that the foreclosing party currently holds the mortgage.
This bill takes an important step to protecting homeowners from the dangers of predatory mortgages by forcing banks to converse with borrowers and evaluate the best possible solution for the family, the bank and the community, DeLeo said upon the bills passage earlier in the day.
Costello said that even banks have acknowledged it often makes more financial sense to create an affordable payment plan rather than foreclosing and selling a home at a substantial loss.
This bill gives us a fair and reasonable approach to do just that for more than 100,000 Massachusetts borrowers who hold these type of mortgages, he said in a press release. We can keep people in their homes without sacrificing the banks bottom lines and save families and communities.
Last night, DeLeo credited Costello for his efforts creating and shepherding the bill through the House. Costello is chairman of the House Committee on Financial Assistance, which DeLeo called one of the most powerful on Beacon Hill, overseeing banking, insurance and business issues.
That should show you the high regard I have for Costello, since I appointed him to chair that committee, DeLeo said.
Before stepping down from the podium, DeLeo took a moment to praise Salisbury as a place where he spent some wonderful summers growing up, visiting with his uncle, who worked as a maitre d at the former Frolics nightclub.
Salisbury Beach is not a foreign territory to me, DeLeo said. I consider it to be one of the most beautiful parts of our commonwealth.