"limited government is essential."
ok, just to humor you along, what incredible, country-destroying limits, specifically, do you want on govt.
(we already know most conservatives don't consider the military, their MIC of a Golden Goose, to be part of govt, so we're gonna blow $7T+ on military over the next 10 years, the MIC-financed hawks are already screaming about the automatic cuts military included when the triggers are tripped)
He Mr. Socialist, what's your take on the great socialist society of England
right now. They have no military to speak of, most of their industry is
socialized and you can draw unemployment forever. And their great
social medicine leaves people to die.
So you tell us how to cure all the ills of the world.
Oh, I forgot, the EU is lining up for loans and to get bailed out. Germany
is going to try, but they just don't got that much money, no one does.
Your are an ignorant twerp!
Contrast with conservative america, where trillions we don't have are spent on building the mightiest army in the world, yet can barely handle a hole whose major tech is probably an RPG. The great capitalist medicine where the government ends up paying more per capita than those wasteful 'social medicine' states, and is directly associated with almost half the bankruptcies in the country. And their industry which is being outsourced at an alarming rate since they simply can't compete with the rest of the world.
So you tell us how to cure all the ills of the world.
Oh, I forgot, the US credit rating is even worse than some of those EU countries. Maybe the US needs to ask France to bail it out!
You are an ignorant twerp!
If only being American made us immune, I might laugh too.
Mismanagement isn't an exclusive attribute of the left or right or a certain country.
Nor arrogance, neither.
So much for our educational system. The products of this system
Contrast with conservative america, where trillions we don't have are spent on building the mightiest army in the world, yet can barely handle a hole whose major tech is probably an RPG. The great capitalist medicine where the government ends up paying more per capita than those wasteful 'social medicine' states, and is directly associated with almost half the bankruptcies in the country. And their industry which is being outsourced at an alarming rate since they simply can't compete with the rest of the world.
So you tell us how to cure all the ills of the world.
Oh, I forgot, the US credit rating is even worse than some of those EU countries. Maybe the US needs to ask France to bail it out!
You are an ignorant twerp!
can't recognize up from down.
Outsourced, we can't compete, credit rating. You idiot, what brought us to this point. It damn sure wasn't free enterprise. It was idiots like you
Socialist. Noooooooooo, don't read history it might just tell you what
made this country.
Bye the way, would you like to tell me which social programs made a
country great? I can point you to several that took them down. Of
course, you may not read alot or watch any news other than MSNBC
and other like them.
Yeah, I am so damn ignorant that I survived for 78 years in this world
without you damn help. How is that hope and change working for you
twerp?
This isn't the past, ray. There's not going to be another industrial revolution.
You won't be owning slaves anytime soon again.
We're only separated a decade from the last full conservative government.
What did they do for your glorious free enterprise? Medicare Part D?
How about your icon, Ronnie? Run up the debt, jacked up taxes.
That's what brought us to this point too, you know?
Social programs help people with real needs every day. There's absolutely no doubt there's abuses in them, like in everything else. That doesn't mean they're useless, or that they brought any country 'down'.
It's time to take your meds old man. That selective memory is certainly acting up again. Hope and Change is not working for me, because there was no Hope and Change. This guy is Bush Jr Jr.
Last edited by ElNono; 08-10-2011 at 05:47 PM.
Obviously, you've got a great educational career before you went military, since we know many highly educated, successful people join the military.
unregulated capitalism, not socialism, killed the US jobs market.Outsourced, we can't compete, credit rating. You idiot, what brought us to this point. It damn sure wasn't free enterprise. It was idiots like you Socialist. Noooooooooo, don't read history it might just tell you what
made this country.
you've been on taxpayer funded "socialized medicine" since you were 65, and probably on taxpayer/socialized retirement/VA-medical care for probably 20+ years before that. right?Bye the way, would you like to tell me which social programs made a
country great?Yeah, I am so damn ignorant that I survived for 78 years in this world
UK, France, Germany, the Scandanavian countries, Switzerland, are all "social democracies), on average have very comfortable lives, strong safety nets, better/cheaper health care systems, strong unions that work with mgmt not against it so both sides win. And they are very pissed at how their bankers in collusion with/lead by US bankers have ed up the world's economy. The socialists didn't it up.
without you damn help. How is that hope and change working for you
twerp?
Have you noted how the Repugs want to over the military retirees to pay for the unregulated/ultra-capitalistic Banksters' Great Depression?
btw, the military has done all for me, or America, in VN, Kuwait, Iraq, or Afghanistan.
Bank of America ‘much better’ now: CEO
Bank of America is in a better position now than during the financial crisis, chief executive Brian Moynihan said Wednesday, trying to reassure investors after sharp losses in the share price.
"The fundamentals are so much better in our country and in our company and in our industry than they were four years ago," he said in a conference call with analysts.
Amid rising concerns about the growing number of lawsuits facing the country's biggest bank by deposits, Moynihan insisted that "we continue to clean up the mortgage issues" related to the acquisition of Countrywide Financial in 2008.
On Monday shares plunged more than 20 percent after US insurer AIG sued Bank of America for $10.5 billion, accusing it of "massive fraud" over dodgy mortgage-based securities AIG bought from Countrywide Financial, the former mortgage giant that the bank took over in 2008.
After partially rebounding Tuesday, the bank's shares sank another 10.9 percent to $6.77 Wednesday, leaving them down 29 percent from a week ago.
In June, the bank announced an $8.5 billion settlement with a group of more than 20 major investors over losses on mortgage-backed securities, which AIG has also raised questions about.
Moynihan was not CEO when Bank of America bought the company, but said there were not many days when he thinks "positively about Countrywide."
http://www.rawstory.com/rs/2011/08/1...e+Raw+Story%29
==========
Finally, We Get The Truthiness About BoA!
So now BoA can buy back all the toxic sold to Geithner?
Bank Of America Death Watch Update!
Bank of America continues slouching toward destruction, with its stock price tanking (down nearly 50% since the start o the year), credit default swaps (basically, wagers on its default) up, layoffs coming, and theoretically under the Dodd-Frank financial reform law, no bailout in sight.
Buried yesterday in a Bloomberg piece was the seeming throwaway line that "Bank of America’s bond-insurance prices last week surged to a rate of $342,040 a year for coverage on $10 million of debt, above where Lehman Brothers Holdings Inc. (LEHMQ)’s bond insurance was priced at the start of the week before the firm collapsed."
http://www.alternet.org/module/print...ndviews/654654
Corrupt Obama Administration Pressuring New York Attorney General to Support Mortgage Whitewash
The Administration has now taken to pressuring parties that are not part of the machinery reporting to the President to fall in and do his bidding. We’ve gotten so used to the US attorney general being conveniently missing in action that we have forgotten that regulators and the AG are supposed to be independent. As one correspondent noted by e-mail, “When officials allegiances are to El Supremo rather than the Cons ution, you walk the path to fascism.”
Team Obama bears all the hallmarks of being so close to banks and big corporations that it has lost all contact with and understanding of mainstream America.
The latest example is its heavy-handed campaign to convert New York state attorney general Eric Schneiderman to a card carrying member of the “be nice to our lords and masters the banksters” club. Schneiderman was the first to take issue with the sham of the so-called 50 state attorney general mortgage settlement. As far as the Administration is concerned, its goal is to give banks a talking point and prove to them that Team Obama is protecting their backs in a way that the chump public hopefully won’t notice.
The Administration joined this effort to hurry it forward and assure it resulted in a suitably financier-friendly outcome. And it has done so despite recent HUD inspector general’s audits finding that the five biggest servicers were defrauding taxpayers. We’ve heard not a peep of follow up on that front; instead, the Administration keeps leaking its tired “A settlement is just around the corner” story.
Schneiderman is far from the only person to see what a sellout this “settlement” is. The basic premise of a settlement is to obtain some sort of res ution to induce a prosecutor/plaintiff to drop a current or likely lawsuit. For the aggrieved party to get a good settlement, it needs to have a credible case, as in facts (a smoking gun or two) and a legal theory as to why those facts mean the perp is in hot water.
http://www.nakedcapitalism.com/2011/...+capitalism%29
Lender Processing Services Law Firm Targeting April Charney, Foreclosure Defense Pioneer
You know the powers that be are pretty desperate when they feel compelled to go after a Legal Aid attorney.
Admittedly, April Charney is no ordinary Legal Aid attorney. She was one of the first lawyers to focus on the question of whether party showing up in court really was the right party and whether it could demonstrate that it had the right to foreclose. Most judges (as in the non-captured-by-corporations kind) regard these as threshold issues. If someone shows up in court claiming that you owe them money and they want the judge to garnish your wages, I’m sure you’d want the judge to listen if the person who wanted your money couldn’t prove he had gotten your IOU from the chap who had made a loan to you years ago.
Charney has helped lawyers in Florida and around the US with these types of arguments, and has also been active in the group of lawyers working with Max Gardiner in North Carolina. She’s a diligent researcher and keeps on top of the rulings in her arena.
In some ways I’m surprised this hasn’t happened sooner, but pro bank members of the Florida bar are apparently orchestrating an effort to get Charney fired from Legal Services of Jacksonville, which on its face is absurd. If you want to help April, 4ClosureFraud has provided names and contact information of the JALA (I assume Jacksonville Area Legal Aid) board members. I hope you tell them (nicely) that getting rid of Charney, given her track record, would raise a lot of questions and likely very unfavorable press for JALA.
By way of background, Lender Processing Services, a firm that provides various software platforms and other services to mortgage servicers, is in a great deal of hot water. Its stock is down over 50% despite buybacks to prop it up, largely as a result of litigation taking aim at its dubious business model (see here and here for background).
On August 3, Holland & Knight attorneys Buddy Schulz and Dominic MacKenzie and Duval County Circuit Court Judge Hugh Carithers hosted an informal lunch at the law offices with 10 members of the board of Jacksonville Area Legal Aid and JALA board president Hugh Cotney. A painting of a pod of sharks that hangs in the lobby of Holland & Knight offices set the tone.
It was kind of a covert friendly little conversation over lunch,” she said, “but it felt like a mutiny.”
http://www.nakedcapitalism.com/2011/...e-pioneer.html
Bank of (the country) America after nationalization?
It's Time For A New Kind Of Bank Of America Solution—The Right Kind
Bank of America's stock is tanking because Bank of America's investors don't believe its assets are worth what Bank of America says they are worth.
http://www.businessinsider.com/all-r...ht-kind-2011-8
That's essentially what some of us thought should have happened to all the tbtf's in '08.
Don't know specifically about you, but when that was done with GM, a bunch of people here cried Socialism!
I'm sure the hypocritical tea baggers would scream like about nationalizing all the bankrupt TBTF banks as socialism, communism, Sharia, terrorism.
Let us know when the tea baggers target the financial sector as the real culprits screwing up the planet, rather the govts.
Bank Of America Forecloses On Man Two Days After Approving His Mortgage Modification
falo on Aug 24, 2011 at 9:40 am
America’s biggest banks have produced a litany of foreclosure horror stories recently, from Chase bank selling a off a soldier’s home on the very same day that he returned from Iraq to a women losing her home to foreclosure even after scrounging together $50,000 in back mortgage-payments that the bank said she owed. Wells Fargo foreclosed on one borrower for missing a few payments…after Wells Fargo specifically the borrower to miss a few payments.
Bank of America also has a deep list of mortgage misdeeds, from improperly foreclosing on a family and stealing its pet parrot to blatantly violating its contract with Treasury after joining one of the administration’s anti-foreclosure programs. And BofA has been arguably the least capable bank when it comes to getting borrowers into sustainable mortgage modifications, due to its inability to keep paperwork straight or review cases in a timely manner.
He finished the application process [for a mortgage modification] and continued making his payments, knowing lenders were backed up with modification requests. [...] Finally, on April 10, a letter. But not the one he was expecting. “According to our records, payment for your home loan is past due,” it said. Conca finally called a lawyer for help, and the lawyer corresponded with the lender, but got nowhere.
Then on July 19, Conca received a letter saying he was approved for a rate reduction on a modified mortgage and he’d receive the paperwork in 10 days.
Relief, but it was only temporary.
Two days later he received a different kind of letter from Bank of America: a notice of intention to foreclose.
http://thinkprogress.org/economy/201...loses-two-day/
Schneiderman has refused to accept the whitewash and token "settlement", plus bank immunity from other prosecutions, so the White (Wall St) House kicks him out:
New York Attorney General Kicked Off Government Group Leading Foreclosure Probe
WASHINGTON -- New York Attorney General Eric Schneiderman on Tuesday was kicked off the committee leading the 50-state task force charged with probing foreclosure abuses and negotiating a possible settlement agreement with the nation's five largest mortgage firms, according to an email reviewed by The Huffington Post.
Schneiderman was one of roughly a dozen state attorneys general leading the talks with the five companies, alongside representatives of the U.S. Department of Justice, the Department of Housing and Urban Development and other federal agencies. The government launched the negotiations in the spring after widespread reports of foreclosure irregularities, such as so-called "robo-signing" and illegal home seizures, emerged.
But state prosecutors and federal officials are pressing to complete a proposed settlement with the five companies even though they've initiated only a limited investigation that hasn't examined the full extent of the alleged wrongdoing, The Huffington Post reported last month. Elizabeth Warren, who until recently was a senior adviser to President Barack Obama and Treasury Secretary Timothy Geithner, told a congressional panel last month that government agencies may not have sufficiently investigated claims that borrowers' homes were illegally seized.
Schneiderman, a Democrat who's in his first term as New York's top law enforcer, has been among a group of state legal officers who has also questioned the desire for a speedy resolution. He's leading his own investigation into mortgage improprieties, subpoenaing do ents from the nation's largest financial ins utions and reviewing court records for possible illegal home repossessions.
http://www.huffingtonpost.com/2011/0...=Daily%20Brief
Obama's Deal for the Bankers: Amnesty for the Indefensible
They will get away with it, at least in this life. “They” are the Wall Street usurers, people of a sort condemned in Scripture, who have brought more misery to this nation than we have known since the Great Depression. “They” will not suffer for their crimes because they have a majority ownership position in our political system. That is the meaning of the banking plea bargain that the Obama administration is pressuring state attorneys general to negotiate with the ans of the financial world.
It is a sellout deal that, in return for a pittance of compensation by banks to ripped-off mortgage holders, would grant the banks blanket immunity from any prosecution. That is intended to short-circuit investigations by a score of aggressive state officials, inquiries that offer the public a last best hope to get to the bottom of the housing scandal that has cost U.S. homeowners $6.6 trillion in home equity in the past five years and left 14.6 million Americans owing more than their homes are worth.
The $20 billion or so that the banks would pony up is chump change to them compared with the trillions that the Fed and other public agencies spent to bail them out. The banks were given direct cash subsidies, virtually zero-interest loans, and the Fed took $2 trillion in bad paper off their hands while the banks exacerbated the banking crisis they had created through additional shady practices, including fraudulent mortgage foreclosures.
Yet the administration has rushed to the aid of the banks once again and is attempting to intimidate the few state attorneys general who have the gumption to protect the public interest they are sworn to serve. As Gretchen Morgenson of The New York Times reported:
“Eric T. Schneiderman, the attorney general of New York, has come under increasing pressure from the Obama administration to drop his opposition to a wide-ranging state settlement with banks over dubious foreclosure practices. …
“In recent weeks, Shaun Donovan, the secretary of Housing and Urban Development, and high-level Justice Department officials have been waging an intensifying campaign to try to persuade the attorney general to support the settlement. …”
Donovan has good reason not to want an exploration of the origins of the housing meltdown: He has been a big-time player in the housing racket for decades. Back in the Clinton administration, when government-supported housing became a fig leaf for bundling suspect mortgages into what turned out to be toxic securities, Donovan was a deputy assistant secretary at HUD and acting Federal Housing Administration commissioner. He was up to his eyeballs in this business when the Clinton administration pushed through legislation banning any regulation of the market in derivatives based on home mortgages.
Armed with his insider connections, Donovan then went to work for the Prudential conglomerate (no surprise there), working deals with the same government housing agencies that he had helped run. As The New York Times reported in 2008 after President Barack Obama picked him to be secretary of HUD, “Mr. Donovan was a managing director at Prudential Mortgage Capital Co., in charge of its portfolio of investments in affordable housing loans, including Fannie Mae and the Federal Housing Administration debt.”
http://www.thenation.com/print/artic...y-indefensible
==========
iow, the capitalists have quite obviously violated fundamental property le law in the $100Bs or $Ts, a crime too numerous and Too Big To Prosecute.
Note how it's the red-state Repug AGs pushing to let the capitalists escape free and clear.
Right-wingers, tell us again how ACORN, F&F, CRA, and stupid mortgage owners (allowed by predatory, corrupt lenders to go) in over their heads caused the Banksters' Great Depression.
Last edited by boutons_deux; 08-24-2011 at 11:19 AM.
Obama holds the whip hand, according to your source.
Note how your article contains exactly zero references to red state republican AG's.
lol boutons.
"The email announcing Schneiderman's dismissal from the states' executive committee was sent just after noon to more than 50 people by Patrick Madigan, a top lawyer in the Iowa Attorney General's Office. It read: "Effective immediately, the New York Attorney General’s Office has been removed from the Executive Committee of the Robosigning multistate."
''Kanner said Schneiderman was removed at Iowa Attorney General Tom Miller's "prerogative.""
New York has actively worked to undermine the very same multistate group that it had spent the previous nine months working very closely with," Miller continued. "While we certainly respect the right of any state to choose to no longer participate in a multistate and to pursue another path, working to actively undermine a multistate while still a member of the Executive Committee simply doesn’t make sense, is unprecedented and is unacceptable. Accordingly, today I informed New York that it is no longer a member of the Executive Committee."
=========
IOWA is deeply, weirdly RED.
Judge Suspends All Federal Court Foreclosures In Rhode Island
The backbone of American real estate law is a network of state-run registries, which track who owns what properties and whether the property is subject to any en berances such as a mortgage. In the 1990s, however, the banking industry created MERS as an alternative, privatized registry that would allow banks to transfer mortgages more quickly in order to facilitate the creation of the kind of mortgage-backed securities that were a centerpiece of the recent economic crisis.
MERS’ attorneys essentially argue that it should be above legal scrutiny because it is too big to enjoin.
it will be interesting to see whether the banking industry attempts to discredit last week’s decision by noting that it was handed down by newly-confirmed Judge John McConnell. The Chamber of Commerce led a blistering campaign of obstruction against McConnell’s nomination because he committed the unforgivable sin of trying to hold lead paint companies and the tobacco industry accountable to their consumers.
http://thinkprogress.org/justice/201...-rhode-island/
==========
Yet another capitalists escape clause:
MERS Is Too Big To Enjoin.
aka, above the law, as MERS and its mother er bankers rip off real wealth from Human-Americans.
Some of these mortgage companies are UNBELIEVABLY incompetent. One of my sisters died of breast cancer in April 2010. I am the executor of the estate. Long story, but after her cancer returned and metastasized she basically said it and quit paying taxes (she was single, no heirs, and self employed). Consequently she ended up with 130K of tax liens and penalties on her condo in Dallas, putting her massively upside down in it. Immediately after her death I moved everything out, cleaned it up, and called GMAC Mortgage and said "hey guys, sorry, but here's the scoop...I'm offering to give you n immediate voluntarily foreclosure...we don't want the condo and don't have to pay for it and aren't gonna pay for it. Lets make this quick and easy and you just send me the papers you want signed."
That was 16 months ago. They have done NOTHING. I've send them notarized releases from all the potential heirs (parents and siblings) releasing any claim to the condo. I am STILL getting calls weekly from random call centers wanting to know if I'm SURE I really don't want that condo...
What the ? do they just not want to book the repo? I've told them a hundred times if I've told them once...verbal and in letter form that the condo is theirs...there is no telling how ed up that place is now after sitting 16 months with the utilities off...
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