Bush Revokes a Pardon He Had Granted To a Developer Who Had Trapped Hundreds into Foreclosure

In one of his last acts as president, George Bush did something commendable. He revoked within 24 hours, the pardon he had granted to a building developer who had trapped hundreds into foreclosure. Most of the foreclosure victims came from the low-income group.

The villain of the piece is Isaac Robert Toussie who has been involved in a property fraud case that has been running for a good length of time. He was one of 19 persons Bush had pardoned on 23rd December this year. But on the day before Christmas Bush had to revoke his decision as the media highlighted that the father of Isaac had donated about $30,000 to Bush’s party – the Republican Party.

Speaking on behalf of the White House, its press secretary Dana Perino said that the decision to undo the pardon – something without precedent in modern history, was “based on information that has subsequently come to light.” It was admitted that the pardon did not meet the guidelines laid down by the Justice Department. It was however added that neither the officials of the White House nor Bush knew about the subscription made by the father of Isaac – something that “might create an appearance of impropriety.”

Earlier in the day The New York Daily News had disclosed that Isaac’s father Robert had made his first political donation in April this year. He gave $28,500 to the Republican National Committee. Only four months after this his son’s application for pardon was filed. Doug Berman, law professor of Ohio State University, said, “It’s best embarrassing. At worst, it’s an extraordinary example of this White House’s ability to bollocks up one bit of presidential authority that he clearly has.” Berman was speaking to the Associated Press.

Many of the foreclosure victims who had previously bought reo houses from Isaac were furious when the news of the pardon trickled in. People grumbled that those who are politically well connected get whatever they want while others are left to either sink or swim. The victims described the pardon of Isaac as the worst Christmas present Bush could give. But the news of the revocation of the order was received with a feeling that at last justice has had the last word.

New York residents, by the hundreds, had sued Isaac in 2001 for being the kingpin of a scheme that lured in “inexperienced and low-income, inner-city, minority first-time buyers into purchasing homes that they could not afford.” The houses of the working class in Brooklyn were inflated by 50%!