Deputy Mayor Slush Fund Queen Christine C. Quinn and king Michael R. Bloomberg today announced a $20 million commitment to fund a pilot program that will turn unsold condominiums, market-rate rental buildings and stalled construction sites into affordable housing opportunities for moderate and middle-income families.

First, that the city will overpay for the condos, making this into a developer bailout program.

And second, that too much scarce affordable housing funding will be diverted from the low-income people who need assistance most to higher-income people who can afford the subisidized condos. 

Even if the condos are rented to homelessness, the city is paying about 2,700 a month for each apartment such as in Crown Heights luxury condos.  What an ineffective use of scarce resources when 2,700 dollars can house more than one family.  This plan is to bail out Bloomberg's rich friends. 

It is shame both Bloomberg and Quinn keep giving our money to the rich with tax breaks and interest-free loans and now even bailing them out. Yet they did nothing for those homeowners who were foreclosed and homeless.  

It makes me sad to see my people volunteering for Bloomberg and supporting him when he endorse Bush and wouldn't endorse Obama over McCain.  King Bloomberg wrote articles about Deregulations and not taxing the rich. He brought the Republican Convention to NYC and arrested thousands of protesters and violated their liberties.  When will people wake up and see that Blooomberg steal from the poor and gives to the rich.  He is dishonest and vile man. 

And to all those supporters of Mike, you are a sell-out to your community.  Shame on you to sell out for money and undo all the years of blood and sweat of activists who  fought to put you where you stand. shame on all of you.