Well…it must be nice for the relatives of the Michigan republicans these days when they can lose money, get sued, and then get a law passed that wipes out 2.4 million dollars in debt. If you haven’t heard, that is just what happened last week when Snyder signed into law a bill that relieved the brother of the house repub chair here, Bobby Schostak, of the 2.4 million dollar loss that the appeals court said he owed on a failed property in Traverse City. The gist of the story is that the Schostaks are wealthy developers here, and the younger Schostak signed a contract that said he would be personally responsible for losses on this property…when the economy tanked, he walked away from the property that was worth 2.4 million less than he owed on it, the bank sued, and all of the courts here said he owed the money. So, what does a connected republican do here in Michigan? As always, they change the rules and use crony capitalism to pass this law that retroactively immunizes the leader’s brother from the loss…wouldn’t you like to be able to do that with the house you are upside down on? It is a breach of the public trust for the repubs to cheat the system for personal gain…but, what else should you expect from these guys? After all they are the ones who raised taxes on workers so they could hand a 2 billion dollar tax cuts to the corporations that bought them the election….and it just goes on and on…geez….
One last thing…the bill was written by the Schostak brothers attorney…..