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Henry Cisneros, the Dream Worked for Henry

I cannot find a link but the front page of the SA Express News on Sunday carried a long story about Henry Cisneros involvement with KB, Countrywide, various affiliates, skirting the story of how he made millions, and left us with, Lago Vista. Lago Vista is on Zarzamora between the Loop 410 and I 35. It is surely a testament to the sub prime debacle. Billed as a new subdivision for the south side, it is a pretty sad group of inexpensively constructed 'houses' many already in foreclosure. The jogging trail never got built nor the reflecting pool.  Henry of course made lots fo money. He does not remember the rule being repealed that requred lenders to have third party appraisers any more than Barney Frank or Chris Dodd remember Republicans wnating more control of FNM and FRE.

Lago Vista is a mocrocosm of the socres of so called developments that now spread past 1604 to the west.

I am interested in your comments. Henry has now promoted San Antonio with the Alamodome and now thousands of sub 1500 sf 'homes' at inflated prices.  The list of rental properties on San Antonio Multiple Listing Service grows as I write. They can't sell, so let's rent them. Tomorrow's neglected negihborhoods are here today.

Guys like this are expert at gaming the system. A stint as a cabinet secy, an under, deputy, assistant to, whatever. Next thing you know they re appear as a lobbyist to the same bureaucrats they were supervising. Then they move on to management  positions of Boards and new start ups. There is always a link to their former post, this is most notable in the military defense industry.   this is how Arthur Andersen abrogated their oversight role at Enron, today we audit tomorrow we work there. 

 We can no longer afford the wars in Afghan and Iraq, they will soon become smaller.  We are however saddled with the results of the Community Organizers…….take a few mintues to drive thru Lago Vista on your next campus commute, you tell me….

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2 responses to “Henry Cisneros, the Dream Worked for Henry”

  1. Cresencio R Davila Avatar
    Cresencio R Davila

    But we do this to make things fair and give the HAVE NOT’S the same opportunity as the HAVE’S. I mean we are all entitle to the same aren’t we? If it wasn’t for the HAVE NOT’s, where would the Democratic Party be, would it even exist? Seriously though, it upsets me greatly. Our Founding Fathers in the Declaration of Independence wrote that we all posses 3 inalienable rights: Life, Liberty and the PURSUIT of Happiness. Yes, I know, some people would like to have us think Life, Liberty and Happiness – never mind pursuing – let the government just give it to us. Whatever happened to things like pride, honor and respect. I break my back pursuing my “happiness” by working full time and going to school full time. These people like Henry Cisneros, many politicians, and Mr. “CHANGE WE CAN BELIEVE IN” are only interested in themselves and yet people continue to believe their lies that they are looking out for the little people and want to implement plans to HELP us – i.e. LAGO VISTA. When you give to people without them having to work for it – they don’t appreciate it and take care of it as if they did work hard for it.

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  2. Tina C Avatar
    Tina C

    The Lago Vista’s of San Antonio have been around much longer than Henry Cisernos or the parties that got the mortgage companies where they are (are not) today. In the 70’s I think the builder was Ray Elison that built lots of subdivisions around Lackland and the 410 area. (Cisnernos became mayor in ’81 if memory serves….) They started out really nice but within a few short years my dad had kittens every time I went to the area to visit friends.
    There are also many, many subdivisions/mixed-use developments that falter even before they open. It’s interesting to read the public notices to see how much they owe in back taxes. Developers, like many small business owners, don’t always do their homework before they commit to the endeavor. Start up costs, permits, licenses, professional fees all keep rising the longer the project is stalled. Eventually you see the property abandoned, the parties in bankruptcy and just another public eyesore. This isn’t new to San Antonio – it’s been around for as long as I can remember. The mortgage fiasco may have made it worse, but I wonder how much of it is new or just now being noticed because the country is focused on it?
    Did you know that Cisneros is an Aggie? and the former commander of the Fighting Texas Aggie Band?
    As for politics – those who don’t vote, don’t have a right to complain…. I’ll be voting, will the rest of you?

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