The Revolving Villains – Obama and the Democrats Will Eliminate Social Security Part III

By Jonathryn

That Was a Yes or No Question, Mr. President.

This is part II of a multipart series to demonstrate how everyone in Washington—and one-term President Barack Obama in particular—are telegraphing the fact that they will be gearing up for a major campaign to steal money from Senior Citizens by making drastic changes to “fix” the Social Security program. Part I can be read here. Part II can be read here. (Image)

Today at the top of Atrios’ (Duncan Black’s) website, he writes the question he asked about at a recent blogger conference with one-term President Barak Obama:

Q:   Mine is an easy question. Will you rule out raising the retirement age to 70?

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Bait and Switch – Banks as the Scourge of Capitalism

By Numerian posted by Michael Collins

“This breakdown in the debtor-creditor relationship has been entirely of the banks’ making and has been encouraged by powerful interests, including the Federal Reserve, the main regulator of the big banks.”  Numerian

Joe Nocera, financial columnist for The New York Times, had an interesting conclusion to his recent article on Bank of America:

I admit it: I want to see the banks feel some pain. Most people do, I think. Banks did terrible things during the subprime bubble, and they still haven’t paid any real price. I find myself rooting for judges to rule against banks in foreclosure cases. I would love to see these big investors put the serious hurt on Bank of America, which will encourage other investors to pile on. I know this colors my thinking. I can’t help it.

Yet I also know the flip side. If the foreclosure lawyers start winning a lot of cases, if judges halt foreclosures on a widespread basis, if investors start to extract billions upon billions of dollars from the banks — and if banks become seriously weakened as a result — we’ll be right back where we were two years ago. The banks will need to be saved for the good of the economy. The taxpayers will have to come to the rescue. That’s an appalling prospect too.

Banks: We can’t live with them, and we can’t live without them. It stinks, doesn’t it?

This brief flourish of disgust for the banking industry received a lot of attention, almost all of it favorable.  Millions of Americans want to see “serious hurt” put upon the banks, especially the big banks that are in the Too Big To Fail category.  Why do we hate the banks so?
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California KOs Corporate Takeover – Heathens Hold the Line

Michael Collins

First published in The Agonist

The corporate takeover of California is on hold according to the latest polls out of the nation’s largest state.  Just nine days before the election, the Los Angeles Times and University of Southern California poll shows a nearly impossible uphill battle for the big business ticket of former eBay CEO Meg Whitman and former HP CEO Carly Fiorina.

Among likely voters in the governor’s race, Brown leads Whitman 50% to 38%.  In the race for United States Senator, two term Senator Barbara Boxer maintained an 8% lead.  The leads by Democrats come from a brand new constituency, those who “never” go to church.  More on that later.
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Predictions


Dave Leip’s US Atlas of Presidential Elections

Here’s my prediction for the Senate races.  I see the Democrats holding on to a 54 seat majority.   If this happens, the thing to watch are  the rules for the new Senate.  Will Reid keep to that 60 vote requirement that he’s used to kill any progressive legislation?  Duh, of course he will! 

My predictions don’t matter that much but the Presidential Atlas site is a gem.  You can get data, review past elections, and participate in a forum.  It’s an excellent resource.  The site is without any bias whatsoever.  Dave Liep collects the data and you get real election results., unlike those provided on election night.   A good deal of voting results come in up to a month after the election.    Membership is free, right column. (more…)

Where’s The Note? Shock and Awe for Big Banks


Link

Michael Collins

The Mortgage Electronic Registration System (MERS) is ground zero for the current crisis. The very entity that was to bypass state and county laws and regulations and assume universal ownership apparently has a very limited or nonexistent basis in law.

Big banks have stopped foreclosures in 23 states due to legal challenges to their ownership of mortgage notes. On Wednesday, JP Morgan upped their total to 41 states in which foreclosure operations had ceased.

Why the halt in foreclosures? It seems that the banks have ignored long established state property and title procedures and may not actually own the title to the homes subject to foreclosure (and others subject to the same procedures).

Calculated Risk quoted a JP Morgan spokesman saying,

“We’ve identified issues relating to the mortgage foreclosure affidavits and those include signers not having personally reviewed the underlying loan files but instead having relied upon the work of others. … And there are circumstances where affidavits have not been properly notarized” Oct. 13.

Failing to “personally review” loan documents means that asserting that the review took place was perjury. This happened for countless mortgages. Failing to properly notarize mortgage signatures violates state property law. It could also be seen as negligence by investors in the mortgages, as well.

ForclosureGate – Shock and Awe

Those who saw the foreclosure and eviction movement around the country as inevitable may be in awe at this development. Citizens may be able to keep their homes longer, avoid eviction, and regroup financially. Rep. Marcy Kaptur (D-OH) was prophetic at the start of 2009 when she outlined what turned into a stunningly successful legal strategy.


Rep. Marcy Kaptur “Make Them Prove They Own Your Loan!” — January 2009
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