Thursday, October 14, 2010

Mortgage Crisis Blues: Their Own Mistakes As Basis For Compensation

"It could be 2008 all over again." Ariana Eunjung Cha & Jia Lynn Yang of the Washington Post: "For more than a decade, big lenders sold millions of mortgages around the globe at lightning speed without properly transferring the physical documents that prove who legally owned the loans. Now, some of the pension systems, hedge funds and other investors that took big losses on the loans are seeking to use this flaw to force banks to compensate them or even invalidate the mortgage trades themselves."

Will the taxpayer again ride to the rescue of banks?

I'm sure all those lightning fast transfers around the global banking and mortgage industries were forced by poor people given risky loans. That's what the Conservatives and Tea Baggers would have you believe.

Corporations are out to destroy socialistic policies, yet socialism and taxpayers always bailout corporations. It's so masochistic, yet it happens every time.

"Buyer beware" work for hedge funds, too.

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For Senator and Governor in Connecticut

The bitter contest to replace retiring Senator Christopher Dodd pits the charm-free, experienced public servant against the splashy business executive. Connecticut voters should pick experience.

Attorney General Richard Blumenthal, the Democrat, has led the way in attacking the tobacco plague, helped clean the region’s environment and supported hundreds of individuals treated unfairly by their health insurance companies, utilities or banks.

Mr. Blumenthal has troubled us by occasionally telling audiences, falsely, that he served in Vietnam. He has apologized in almost every public forum and made sure that he expressed his regret to real Vietnam veterans.

We have larger concerns with the Republican, Linda McMahon. She made her name and lots of money by running World Wrestling Entertainment, a noisy, demeaning business. Her policy positions, when you can discern them, are remixes of failed trickle-down ideas.

She has aligned herself with groups that oppose the minimum wage — even though she now says she would not cut this meager safety net. She essentially expects voters to take it on faith that she will do as well in government as she did in spectacle wrestling.

She is ready to spend as much as $50 million of her own money to win the race, but she does not seem ready to take on the issues of war, the economy, public welfare and justice in Washington.

For the United States Senate in Connecticut, we endorse Richard Blumenthal.

Connecticut voters have two worthy candidates for governor: Dan Malloy, the Democrat and former Stamford mayor, and Thomas Foley, the Republican and former ambassador. Mr. Malloy is the better choice.

Mr. Foley, who was a major fund-raiser for former President George W. Bush, worked in Iraq shortly after the invasion and then became ambassador to Ireland. He is fairly new to state issues, while Mr. Malloy is steeped in Connecticut’s problems and possibilities.

Both candidates have a way to go in explaining how they plan to tackle the enormous deficits next year. Mr. Foley has promised no borrowing and no new taxes, which would mean steep cuts to balance the $19 billion budget. Mr. Malloy, who is aligned with numerous unions, would have to disappoint these supporters to scale back state costs.

Mr. Foley has thrived in his investment business, although a company he ran in Georgia closed its doors after he sold it and left many unemployed. Mr. Malloy’s stewardship of Stamford brought growth and prosperity to the once bedraggled city.

We endorse Mr. Malloy for governor in Connecticut.

More home State news.

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Blumenthal Widens Lead in Connecticut

A new Quinnipiac poll in Connecticut shows Richard Blumenthal (D) has opened up a double-digit lead once again over Linda McMahon (R) for U.S. Senate, 54% to 43%, among likely voters.

Even though I live in NYC, I vote in CT. Suck it, Linda.

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Wednesday, October 13, 2010

"What I believe is irrelevant"

— Christine O’Donnell,
at tonight’s Senate debate, when asked if she believes in evolution.


Evan's Blog. Meh.

Obama vs. Huckabee?

Here's another good nugget from the New York Times Magazine piece on President Obama:

"Obama advisers expect to incorporate the reelection campaign around March and think the Tea Party ultimately will reelect him by pulling Republican nominee to the right. They doubt Sarah Palin will run, figure Mitt Romney can't get nomination because of his Massachusetts health care program and guess that Obama may end up running against Mike Huckabee."

2010 mid-terms are the last gasp by the Right for decades. Obsolete by their own making.

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Untitled

What Part Of "We The People" Is A Corporation?

"Democracy dies when corporations are given the rights of human beings and corporate bribery becomes free speech."

Tom Turnipseed

The Foreclosure Spin: How Can Conservatives Blame The Poor

There is a problem with foreclosures in America.

With all the bundling of mortgages, sold around the world as securities, based on shoddy paperwork on the front end and back end of these sales, the big question in many cases is: who actually owns the deed/mortgage on the foreclosed home?

You have multiple claims on each home because so many pieces of the original mortgage are owned by multiple investors all trying to get “their” money back.

As with all banking scandals and bubbles, it is the job of Conservatives to go spin this as “poor black people misrepresented their loan applications and caused this problem” throughout the media, deflecting all blame from the flawed markets, blind with greed risk analysis firms, and unregulated, corruption-inducing capitalism.

Well try and spin this one.

Did these risky applicants force the entire banking and mortgage industries, and now the foreclosures market, to forget how to fundamentally operate? A guy making nothing, with no assets and no job forced the hand of the entire housing market? And the mortgage market?

For Republicans, Tea Baggers and complete partisan hacks, the answer is yes. Blame the little guy when you know it was obviously the big guy’s fault.

Tuesday, October 12, 2010

Pro-Life Is A Crock

We are all pro-life. I'm not pro-death. I feel we should care about all people and protect choices so that the Government is not deciding for you to have your baby.

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Never Let A Good Crisis Go To Waste

tennroof:

Next time you hear a Republican complain about big intrusive government, ask them how much more secure they feel now than they did on September 10, 2001. Then remind them Cheney’s Department of Homeland Security was the largest expansion of Federal government spending, payroll, and power since World War II. Do they feel like the Republicans gave them their money’s worth the last time they promised they knew what they were doing? And do they like knowing their phones are tapped?

You know, they try to talk about Rahm Emmanuel’s quote about letting a “good crisis go to waste”, all the while not noticing that the Republicans certainly didn’t let 9/11 go to waste. DHS, the Patriot Act, the war in Iraq, it was all “justified” by 9/11.

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Monday, October 11, 2010

Glenn Beck 'Blew My Mind' Says The Right Wing Extremist

In jailhouse interviews, the right-wing extremist charged in that Oakland freeway shooting last July says Glenn Beck is more schoolteacher than newscaster: "It was the things he exposed that blew my mind. Beck would never say anything about a conspiracy, would never advocate violence, he'll never do anything like, of this nature, but he'll give you every ounce of evidence that you could possibly need."

Fox News gives Glenn Beck unchecked airwaves to push his toxic patchwork of deception and messages of violent retribution.

[Byron] Williams is charged with allegedly opening fire on police on Interstate 580 in Oakland, California, while on his way to "start a revolution" by attacking members of the ACLU and the Tides Foundation.

Potential blood on their hands and all they could only care about are ratings.

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GOP Senate Blocks Nobel Winner In Economics

For months now, Sen. Richard Shelby has been blocking the nomination of economist Peter Diamond to join the board of the Federal Reserve. “I do not believe he’s ready to be a member of the Federal Reserve Board,” Shelby said, “I do not believe that the current environment of uncertainty would benefit from monetary policy decisions made by board members who are learning on the job.” Today, Diamond won the Nobel Prize in economics.

- Ezra Klein

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Sunday, October 10, 2010

Banksy Directs The Simpson's Opening Sequence

SNL Parodies O'Donnell: The Tea Party Is All Acting Anyways



Saying "I am not a witch" as part of your campaign platform does not embarrass the Tea Party. It's all acting anyways.

'SNL' Does The Best Parody Of Christine O'Donnell's 'Not A Witch' Ad Yet (VIDEO)

Master Of Logic

“I’m going to create man and woman with original sin. Then I’m going to impregnate a woman with myself as her child, so that I can be born in human form. Once alive, I will kill myself as a sacrifice to myself. To save you from the sin I originally condemned you to. Ta dah!”
God - master of logic since the beginning of time.

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America's Plutonomy

"Major corporations recognize that the federal government remains an indispensable source of both critical legal protections and vast treasure chests of plunder.

For Corporate Amercia, “Big Government” means huge federal contracts (no-bid in the case of favored outfits like Halliburton and Blackwater), massive subsidies, tax breaks, investment guarantees, low-cost oil and mineral leases, and of course, the “too big to fail” doctrine which will remain in place despite reforms of Wall Street practices.

The virtually unconditional bailout of Wall Street is perhaps the most clear-cut example. The banks got bailed out, yet have shown their gratitude to the public by awarding themselves huge bonuses, while withholding loans from small businesses and families, and conducting foreclosures at such a rapid pace (10 times the daily volume during the Great Depression) that several major banks have failed to follow all procedures required before kicking a family out of their home.

Citibank, in a confidential document, describes the U.S. economic system as nothing less than “a plutonomy” where the super-rich thrive regardless of the fate of the bottom 90%. The richest 1% now take home 23.5% of all US income, more than the bottom half."

America’s ‘Plutonomy’ Drives Warped Electoral Season

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"There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning." - Warren Buffett, America’s second wealthiest man.