Gov. Patrick just can't seem to keep his butt out of trouble, can he?
...[Patrick] oversaw, as a one-time board director of ACC Capital Holdings, not one - but two - major mortgage lenders with dubious track records.
During his years as a director of California-based ACC, Patrick collected hundreds of thousands of dollars a year for overseeing not just Ameriquest, a connection widely reported, but also its sister subprime lender, Argent. ACC is the holding company for both Ameriquest and Argent.
Ameriquest and Argent are at the top of the list when it comes to a financial plague besetting Boston’s already crime-torn neighborhoods - high-interest-rate mortgages that wind up in foreclosure.
Combined, the two companies were tied to 127 foreclosure filings in the city of Boston last year, according to John Anderson, head of the Real Estate Analyst, a foreclosure tracking service in Dorchester.
The vast majority of these struggling homeowners can be found in Roxbury, Dorchester, Mattapan and Hyde Park.
Crazy, ain't it? Neighborhoods that overwhelmingly supported Patrick getting screwed by a company he was affiliated with.
UPDATE: More from Hub Politics and David Bernstein.
