Yes, "terrorists"! The administration has a very difficult time describing these fanatics as
"terrorists", apparently because that term inflames our enemies. Well, the PC-approach is not making much of a impact with these wackos, so let's just be sensible adults and call them what they are - "terrorists"! It's also time to begin treating them as enemy combatants and keep them in our GITMO detention facility.
The "warm and fuzzy" tactic our Administration has implemented at the behest of his ultra Left wing "anti war" backers was doomed to fail from the outset. A perfect example of how this group's agenda will ultimately lead to further pain for our citizens. The terrorists are not interested in making peace and we can't due anything to appease or change them. It's just so silly when any serious observer can readily see that these fanatics are no different (arguably worse, since they aren't affiliated with any nation) from enemies we faced in World Wars 1 and 2.
It's also high time for some accountability! Obviously, someone approved the "junk-in-the-trunk" bomber's U.S. Visa. Someone didn't seriously follow-up on concerns his own Father recently reported to our State Department and CIA, even after the terrorist was denied a Visa earlier this year by the UK. Someone allowed him to board the flight in Amsterdam without the proper documents and with enough "red flags" to have denied boarding to an 89-year old Grandmother from Kansas! There are at least three people who have some real explaining to do and they should be publicly identified. Until we start making people accountable for their actions, especially those charged with protecting our country's security and the safety of our citizens.
The amazingly poor selection of Janet Napolitano as Secretary of Homeland Security is potentially worse than President Bush's appointment of Michael Brown as FEMA Director! This woman has no clue and this is no time for someone with her "everything's working fine" attitude to be running the Department responsible for protecting our country's infrastructure and citizens. A very weak attempt to deflect criticism and an example of her incredible naivety - this lady must go and must go NOW!
Let's declare the TSA a group that will not be allowed to unionize due to national security and get on with appointing a leader for this post. By leaving the TSA leaderless, it only provides another way to get around assigning responsibility for any blunders made under this group's umbrella.
It's time for the United States to treat these terrorists the same way we treated our enemies in WW's 1 and 2! These are NOT isolated attempts, they ARE our enemies, we MUST stop them. If we do not radically change our tactics, I would suggest any and all Administration advocates of our current approach and their families make arrangements to meet representatives of these "extremist" groups in, oh, let's say Sudan or Somalia. I'm sure if they can all just set down and hug this can all be settled. If supporters of the current approach would not bring their loved ones to a meeting in Sudan or even refuse to go themselves, they are just showing that they are afraid to engage these radical Islamists because it might make them feel bad.
The next attempt, if successful and within the next month, will totally be the fault of Janet Napolitano, President Obama and anyone who refuses to aggressively engage these terrorist factions NOW! Do we need another tragedy, two more? When are we going to find and finish the leaders of the radical Islamist factions that have vowed to bring down America? Put the IRS in charge of finding and tracking these terrorists. The IRS can sure do a good job of not letting anyone who owes federal taxes "fall through the cracks", that is unless you're a member of Congress or happen to work in the White House.
And Alan Combs, these are not minimart thieves - they are enemies of our country just like Germany, Japan and the axis countries were in WW 2. Why are we so intent on treating these wackos differently than prisoners captured in all previous wars? THEY WANT TO KILL US MR. COMBS! Maybe you and your family should lead the U.S. contingent when they meet Osama bin Laden and his "warm and fuzzy" comrades in Sudan.
Tuesday, December 29, 2009
Monday, October 5, 2009
WHAT'S HAPPENING IN OUR SKIES?
October 5, 2009
It's becoming more evident that something highly unusual has been and is currently happening in the skies above us. After decades of attempts to debunk reports of strange flying objects, the U.S. government must be feeling some pressure after the release of the French government's records on their UFO research.
We're also struck by the huge increase in media programs over the last year dealing with apocalyptic events and/or extraterrestrial visitors. Are we subtly being prepared for an event that would change humanity as we've known it?
There is something flying over the Earth, invading the airspace of world governments and even penetrating secure military installations. The reports of reliable pilots, astronauts, government officials, military officers/observers, police and the general public have left little doubt that there's something very advanced flying above us.
Whether it's extraterrestrial or Earth-made, governments have a real problem when it comes to actually disclosing the facts. Religious interests face similar problems if the answer is extraterrestrial, big oil may have egg on their face if the answer is found right here on Earth.
To explain the problem if the technology was produced here on Earth, let's say it is finally divulged that the craft we've been seeing was developed by the United States in the late 1940's - early 1950's time period. This craft is powered by technology that does not use fossil fuel and is non-polluting. Can you imagine the public outcry from such a disclosure? Environmentalists would be besides themselves, the average citizen would be outraged by the price they've been forced to pay for fuel, what about the "wars" that have been fought and the lives lost due to oil? That type of disclosure would certainly lead to huge displays of civil disobedience and can you imagine the additional outcry if it was disclosed that the technology came from Nazi Germany and Werner Von Braun? The fact that this power source had been kept from the public for 50+ years now makes releasing the information very problematic for governments, oil companies, etc.
Now let's assume the craft are from outside our planet. Governments must admit they can't defend our airspace and religious concerns have some real problems to deal with and believers may find it hard to continue following doctrines that may now have no basis.
So, why the secrecy? Nobody can decide how to handle the truth when the public finds out. It's going to be very interesting when the day arrives.
It's becoming more evident that something highly unusual has been and is currently happening in the skies above us. After decades of attempts to debunk reports of strange flying objects, the U.S. government must be feeling some pressure after the release of the French government's records on their UFO research.
We're also struck by the huge increase in media programs over the last year dealing with apocalyptic events and/or extraterrestrial visitors. Are we subtly being prepared for an event that would change humanity as we've known it?
There is something flying over the Earth, invading the airspace of world governments and even penetrating secure military installations. The reports of reliable pilots, astronauts, government officials, military officers/observers, police and the general public have left little doubt that there's something very advanced flying above us.
Whether it's extraterrestrial or Earth-made, governments have a real problem when it comes to actually disclosing the facts. Religious interests face similar problems if the answer is extraterrestrial, big oil may have egg on their face if the answer is found right here on Earth.
To explain the problem if the technology was produced here on Earth, let's say it is finally divulged that the craft we've been seeing was developed by the United States in the late 1940's - early 1950's time period. This craft is powered by technology that does not use fossil fuel and is non-polluting. Can you imagine the public outcry from such a disclosure? Environmentalists would be besides themselves, the average citizen would be outraged by the price they've been forced to pay for fuel, what about the "wars" that have been fought and the lives lost due to oil? That type of disclosure would certainly lead to huge displays of civil disobedience and can you imagine the additional outcry if it was disclosed that the technology came from Nazi Germany and Werner Von Braun? The fact that this power source had been kept from the public for 50+ years now makes releasing the information very problematic for governments, oil companies, etc.
Now let's assume the craft are from outside our planet. Governments must admit they can't defend our airspace and religious concerns have some real problems to deal with and believers may find it hard to continue following doctrines that may now have no basis.
So, why the secrecy? Nobody can decide how to handle the truth when the public finds out. It's going to be very interesting when the day arrives.
Monday, August 31, 2009
CONGRESS IGNORES HOMEOWNERS IN DISTRESS
August 31, 2009
As we've been reporting for some time now, Congress continues to turn a blind-eye to homeowners struggling to save their homes. It sure was/is easy for the elected representatives to "rescue" any industry that can benefit their own interests, but heaven forbid if you aren't ready to offer them a few thousand dollars for their coffers or hire their "educationally-challenged" offspring as your new CEO.
These "representatives" apparently still haven't gotten the message that people are mad and will not allow the current cast of characters to continue in the cushy jobs they were elected to perform. The rules of the game, as politicians have known them for a hundred years, have changed. People are aware of the corrupt characters representing them, mainly due to the efforts of independent bloggers - hello Mr. Rangel!
It's high time that Congress step in and demand that lenders seriously attempt to modify mortgages, especially those in imminent danger of foreclosure. The Administration can sure find things to spend money on and events to distract us. Any chance they can look at the perilous situation facing huge numbers of homeowners? That part of the economy apparently isn't sexy enough for them - so, maybe if we can make the issue more attractive or someone can offer a CEO spot to one of their mushrooms in return for some action, we could see something being done for homeowners.
As we've been reporting for some time now, Congress continues to turn a blind-eye to homeowners struggling to save their homes. It sure was/is easy for the elected representatives to "rescue" any industry that can benefit their own interests, but heaven forbid if you aren't ready to offer them a few thousand dollars for their coffers or hire their "educationally-challenged" offspring as your new CEO.
These "representatives" apparently still haven't gotten the message that people are mad and will not allow the current cast of characters to continue in the cushy jobs they were elected to perform. The rules of the game, as politicians have known them for a hundred years, have changed. People are aware of the corrupt characters representing them, mainly due to the efforts of independent bloggers - hello Mr. Rangel!
It's high time that Congress step in and demand that lenders seriously attempt to modify mortgages, especially those in imminent danger of foreclosure. The Administration can sure find things to spend money on and events to distract us. Any chance they can look at the perilous situation facing huge numbers of homeowners? That part of the economy apparently isn't sexy enough for them - so, maybe if we can make the issue more attractive or someone can offer a CEO spot to one of their mushrooms in return for some action, we could see something being done for homeowners.
Tuesday, August 25, 2009
STRANGE PROFILE EMERGES FOR WASHINGTON APPOINTMENTS
August 25, 2009
We are seeing a very strange commonality in the background of persons being appointed to significant positions within the current Administration. This is even more important if you take President Obama seriously when he said, "If you want to know what I'm about, look at the people I surround myself with". Well, if we want to believe what the President is telling us (and this is what they want and deserve as the elected leader of the free world), we have to interpret his statement at face value. To do this raises very disturbing questions concerning exactly where this Administration intends to take America.
There appears to be more than a few radicals from the 1960's and union-types finding their way into influential positions within the Administration. A former co-founder of the '60's radical Weather Underground, Jeff Jones, is now head of the Apollo Alliance. The Weather Underground bombed government buildings in the '60's and Bill Ayers, another Obama "acquaintance" was a founding member of the group. According to House Majority Leader Harry Reid, the Apollo Alliance was instrumental in writing the Stimulus Package legislation. Mr. Jones now profits handsomely by advising companies on how to obtain money from the Stimulus Package.
This is only one of the Administration's ties to '60's radicals, including William Ayers, Van Jones, Rev. Wright, Carol Browner, Cass Sunstein, John Holdren, Ezekiel Emmanuel (brother of the Chief of Staff - surprising), plus a recent decision not to prosecute members of the Black Panthers for alleged polling place intimidation violations from the 2008 Presidential election.
In 1996, a number of these White House "acquaintances" even reconstituted the '60's radical groups like "Students for a Democratic Society (SDS)" and the Weather Underground into a new entity calling themselves "Movement for a Democratic Society (MDS)". It is not surprising that Mr. Jones, head of the Apollo Alliance, is on the Board of MDS.
Is anyone vetting these individuals? Or, taking Mr. Obama at his word, should we assume there's a message in these appointments and "acquaintences"? As we've said before, if there's not an agenda here, there have to be qualified individuals without this "baggage" that are willing to fill these positions. We are at a loss to explain why these professed radicals continue to be influencing our Country's future policy and ultimate destiny.
We are seeing a very strange commonality in the background of persons being appointed to significant positions within the current Administration. This is even more important if you take President Obama seriously when he said, "If you want to know what I'm about, look at the people I surround myself with". Well, if we want to believe what the President is telling us (and this is what they want and deserve as the elected leader of the free world), we have to interpret his statement at face value. To do this raises very disturbing questions concerning exactly where this Administration intends to take America.
There appears to be more than a few radicals from the 1960's and union-types finding their way into influential positions within the Administration. A former co-founder of the '60's radical Weather Underground, Jeff Jones, is now head of the Apollo Alliance. The Weather Underground bombed government buildings in the '60's and Bill Ayers, another Obama "acquaintance" was a founding member of the group. According to House Majority Leader Harry Reid, the Apollo Alliance was instrumental in writing the Stimulus Package legislation. Mr. Jones now profits handsomely by advising companies on how to obtain money from the Stimulus Package.
This is only one of the Administration's ties to '60's radicals, including William Ayers, Van Jones, Rev. Wright, Carol Browner, Cass Sunstein, John Holdren, Ezekiel Emmanuel (brother of the Chief of Staff - surprising), plus a recent decision not to prosecute members of the Black Panthers for alleged polling place intimidation violations from the 2008 Presidential election.
In 1996, a number of these White House "acquaintances" even reconstituted the '60's radical groups like "Students for a Democratic Society (SDS)" and the Weather Underground into a new entity calling themselves "Movement for a Democratic Society (MDS)". It is not surprising that Mr. Jones, head of the Apollo Alliance, is on the Board of MDS.
Is anyone vetting these individuals? Or, taking Mr. Obama at his word, should we assume there's a message in these appointments and "acquaintences"? As we've said before, if there's not an agenda here, there have to be qualified individuals without this "baggage" that are willing to fill these positions. We are at a loss to explain why these professed radicals continue to be influencing our Country's future policy and ultimate destiny.
Monday, August 24, 2009
ADVICE TO HOMEOWNERS IN FORECLOSURE
August 24, 2009
Many homeowners currently in foreclosure have tried unsuccessfully to have their loans modified. The vast majority of loan modification firms are either scams or simply ineffective, which leaves few options for the unfortunate homeowner.
If you've tried all options and still face a foreclosure sale AND you're interested in staying in your home, I highly recommend that you file bankruptcy. It's our understanding that either Chapter 7 or 13 will allow for the following action. At the time you file, indicate to your attorney that you are interested in requesting the "loan stripping" option. This allows the presiding judge to nullify your existing mortgage(s) (including home equity loans) and to re-value the property based on current market values. A new 30-year fixed-rate mortgage will be structured by the Court and you will be able to save your home.
You should only employ this option if you are interested in staying in your home and can afford to pay the new mortgage payment. You can even file an "emergency" bankruptcy within a few days of the sale and, in most cases, the scheduled sale will be cancelled.
We are simply interested in giving homeowners an option that gets little attention, but provides significant relief and, importantly, sticks it to the lenders. These crooks have gotten away with grand larceny, insurance fraud and investment fraud on a monumental scale and deserve all the consequences that can be unloaded on them.
Many homeowners currently in foreclosure have tried unsuccessfully to have their loans modified. The vast majority of loan modification firms are either scams or simply ineffective, which leaves few options for the unfortunate homeowner.
If you've tried all options and still face a foreclosure sale AND you're interested in staying in your home, I highly recommend that you file bankruptcy. It's our understanding that either Chapter 7 or 13 will allow for the following action. At the time you file, indicate to your attorney that you are interested in requesting the "loan stripping" option. This allows the presiding judge to nullify your existing mortgage(s) (including home equity loans) and to re-value the property based on current market values. A new 30-year fixed-rate mortgage will be structured by the Court and you will be able to save your home.
You should only employ this option if you are interested in staying in your home and can afford to pay the new mortgage payment. You can even file an "emergency" bankruptcy within a few days of the sale and, in most cases, the scheduled sale will be cancelled.
We are simply interested in giving homeowners an option that gets little attention, but provides significant relief and, importantly, sticks it to the lenders. These crooks have gotten away with grand larceny, insurance fraud and investment fraud on a monumental scale and deserve all the consequences that can be unloaded on them.
Friday, August 21, 2009
CAPPS MIA IN WASHINGTON
August 21, 2009
We get reports from people all the time and it's amazing how some government officials get more negative interest than others. One example is California Congresswoman Lois Capps. Ms. Capps (apologies to "Senator" Boxer) represents some pretty pricey areas in Southern California, but apparently has gone MIA during the recent economic crisis in Washington.
Her constituents have flooded her office with pleas for assistance only to be largely ignored by her and her staff. A Town Hall meeting is a far from happening as her sudden resignation from what she apparently sees as a career job. From what we're hearing, she may have a big surprise when she next appears on the ballot.
Constituents have been demanding that she do something about the huge numbers of homes going into foreclosure in her District. Guess she has her fingers into the profits being made from those robberies, otherwise you'd think she'd try to stop the lenders from stealing the homes in her District. Just another example of the weak representation we have in Washington. When things are good, they love the perks in return for breathing. But when they actually need to represent the interests of their constituents, they disappear and hope they can keep their cushy job by simply staying out of the press. Surprise! We advertised that we were going to name those who are failing the voters that put them in office, Lois Capps you are a disgrace.
We get reports from people all the time and it's amazing how some government officials get more negative interest than others. One example is California Congresswoman Lois Capps. Ms. Capps (apologies to "Senator" Boxer) represents some pretty pricey areas in Southern California, but apparently has gone MIA during the recent economic crisis in Washington.
Her constituents have flooded her office with pleas for assistance only to be largely ignored by her and her staff. A Town Hall meeting is a far from happening as her sudden resignation from what she apparently sees as a career job. From what we're hearing, she may have a big surprise when she next appears on the ballot.
Constituents have been demanding that she do something about the huge numbers of homes going into foreclosure in her District. Guess she has her fingers into the profits being made from those robberies, otherwise you'd think she'd try to stop the lenders from stealing the homes in her District. Just another example of the weak representation we have in Washington. When things are good, they love the perks in return for breathing. But when they actually need to represent the interests of their constituents, they disappear and hope they can keep their cushy job by simply staying out of the press. Surprise! We advertised that we were going to name those who are failing the voters that put them in office, Lois Capps you are a disgrace.
GREEN JOBS "ADVISOR" NAMED - MAINSTREAM MEDIA IGNORES APPOINTMENT
August 21, 2009
We've been waiting to see what kind of coverage Obama's appointment of Van Jones as the U.S. Green Jobs Special Advisor would get from the mainstream media. it was of interest because of Mr. Jones' previous affiliations and "social justice" beliefs. He admittedly has advocated for social unrest and describes himself as a "communist" and a "rowdy black nationalist".
Now, we've tried to be pragmatic when reporting on issues affecting the country, but it's difficult to understand why this appointment has been largely ignored. Considering the coverage Obama's relationship with Reverend Wright got from the press, it's strange that this fellow has flown under the radar.
Granted, Mr. Jones has advocated for increasing our focus on using green technology for a number of years and has published a book entitled "The Green Collar Economy". But, given the background and admitted beliefs of Mr. Jones, should he have been the primary choice to fill this position? What good does it do for the Administration to have a man described by NewsBusters as having "a very checkered past" deep-rooted in radical politics, including black nationalism, anarchism, and communism" guiding the Nation's green technology interests? There were no other candidates with equal or better qualifications and with less polarizing ideas to fill this position?
Again, putting aside politics and focusing simply on the best interests of the Country, why introduce such an admitted social radical into the top-levels of government? We need people in Washington that are concerned with doing the right thing, rather than radicals from either side pushing special-interest agendas. These type of appointments are disturbing, especially since they evade the normal "consent" process that Congress has over confirming Cabinet Secretaries.
Our charge is to give our readers the facts as we can best discern from information gather from numerous sources, especially when important stories are ignored by the mainstream media. Therefore, we will give you the background of Mr. Jones and let you decide whether he is the best choice.
We've already pointed out Mr. Jones advocacy for green technology and promoting the creation of jobs from increased use and his published book on green economy. An active advocate for a number of years. Now, let's look at his past. Jones is an admitted San Francisco extremist who says he was "radicalized in jail".
The National Review Online reports that Jones was a co-founder of the Ella Baker Center for Human Rights, a San Francisco–area organization once focused exclusively on so-called social-justice issues. Now, actively involved in the green movement.
In a 2007 entry on the Huffington Post, Jones marked the 15th anniversary of the riots that followed the acquittal of the four LAPD officers accused of beating Rodney King. Attached to the post is an essay he wrote in those heady days of 1992, which includes this account of the genesis of his revolutionary ardor:
"Our rallying cry was for justice; our demand was that the System be changed! Yes, the Great Revolutionary Moment had at long last come. And the time, clearly, was ours! So we stole stuff.Y’know, stole stuff. Radios, tennis shoes. Well, not everybody, of course.The vast majority (me included) just marched around and chanted slogans. But some set trash cans on fire. And smashed in car windows. And some kids stoned a few passing cars pretty good. And stole stuff, like I said."
So it's obvious that Mr. Jones at one time at least felt that he was part of "the Great Revolution" and they felt the need for "justice", which was demonstrated by stealing merchandise from neighborhood stores.
We just have to question Mr. Obama's choice, it seems too in-line with previous affiliations with Frank Marshall Davis, Jeremiah Wright, and Bill Ayers. Again, we do not need polarizing figures with radical agendas deciding policy for our Country.
We've been waiting to see what kind of coverage Obama's appointment of Van Jones as the U.S. Green Jobs Special Advisor would get from the mainstream media. it was of interest because of Mr. Jones' previous affiliations and "social justice" beliefs. He admittedly has advocated for social unrest and describes himself as a "communist" and a "rowdy black nationalist".
Now, we've tried to be pragmatic when reporting on issues affecting the country, but it's difficult to understand why this appointment has been largely ignored. Considering the coverage Obama's relationship with Reverend Wright got from the press, it's strange that this fellow has flown under the radar.
Granted, Mr. Jones has advocated for increasing our focus on using green technology for a number of years and has published a book entitled "The Green Collar Economy". But, given the background and admitted beliefs of Mr. Jones, should he have been the primary choice to fill this position? What good does it do for the Administration to have a man described by NewsBusters as having "a very checkered past" deep-rooted in radical politics, including black nationalism, anarchism, and communism" guiding the Nation's green technology interests? There were no other candidates with equal or better qualifications and with less polarizing ideas to fill this position?
Again, putting aside politics and focusing simply on the best interests of the Country, why introduce such an admitted social radical into the top-levels of government? We need people in Washington that are concerned with doing the right thing, rather than radicals from either side pushing special-interest agendas. These type of appointments are disturbing, especially since they evade the normal "consent" process that Congress has over confirming Cabinet Secretaries.
Our charge is to give our readers the facts as we can best discern from information gather from numerous sources, especially when important stories are ignored by the mainstream media. Therefore, we will give you the background of Mr. Jones and let you decide whether he is the best choice.
We've already pointed out Mr. Jones advocacy for green technology and promoting the creation of jobs from increased use and his published book on green economy. An active advocate for a number of years. Now, let's look at his past. Jones is an admitted San Francisco extremist who says he was "radicalized in jail".
The National Review Online reports that Jones was a co-founder of the Ella Baker Center for Human Rights, a San Francisco–area organization once focused exclusively on so-called social-justice issues. Now, actively involved in the green movement.
In a 2007 entry on the Huffington Post, Jones marked the 15th anniversary of the riots that followed the acquittal of the four LAPD officers accused of beating Rodney King. Attached to the post is an essay he wrote in those heady days of 1992, which includes this account of the genesis of his revolutionary ardor:
"Our rallying cry was for justice; our demand was that the System be changed! Yes, the Great Revolutionary Moment had at long last come. And the time, clearly, was ours! So we stole stuff.Y’know, stole stuff. Radios, tennis shoes. Well, not everybody, of course.The vast majority (me included) just marched around and chanted slogans. But some set trash cans on fire. And smashed in car windows. And some kids stoned a few passing cars pretty good. And stole stuff, like I said."
So it's obvious that Mr. Jones at one time at least felt that he was part of "the Great Revolution" and they felt the need for "justice", which was demonstrated by stealing merchandise from neighborhood stores.
We just have to question Mr. Obama's choice, it seems too in-line with previous affiliations with Frank Marshall Davis, Jeremiah Wright, and Bill Ayers. Again, we do not need polarizing figures with radical agendas deciding policy for our Country.
Tuesday, August 11, 2009
MORTGAGE SERVICERS, BANKS THUMB THEIR NOSES AT CONGRESS
August 11, 2009
There seems to be some type of collusion occurring between so-called "mortgage servicers", banks and Congress. Although significant legislation has been passed requiring lien holders to contact homeowners and attempt to modify their loans, these companies seem impervious to legal requirements and their consequences for noncompliance.
One of the worst offenders in the "mortgage servicer" category is Saxon Mortgage. Not only is this company an apparent "black hole" when it comes to providing information, they are well known by most legal firms dealing with foreclosures, being described by one attorney as "one of, if not the worst of the bunch".
How is it that these shills for "investors" can circumvent legal requirements and continue to profit at the expense of our economy for the sole purpose of sucking out further ill-gotten gains? Politicians who sat by and allowed this rape of homeowners to proceed will not be forgotten when the next election rolls around. When hundreds of thousands of people's net worth is basically wiped out to further line the pockets of politicians and criminals posing as mortgage bankers there will be consequences.
There seems to be some type of collusion occurring between so-called "mortgage servicers", banks and Congress. Although significant legislation has been passed requiring lien holders to contact homeowners and attempt to modify their loans, these companies seem impervious to legal requirements and their consequences for noncompliance.
One of the worst offenders in the "mortgage servicer" category is Saxon Mortgage. Not only is this company an apparent "black hole" when it comes to providing information, they are well known by most legal firms dealing with foreclosures, being described by one attorney as "one of, if not the worst of the bunch".
How is it that these shills for "investors" can circumvent legal requirements and continue to profit at the expense of our economy for the sole purpose of sucking out further ill-gotten gains? Politicians who sat by and allowed this rape of homeowners to proceed will not be forgotten when the next election rolls around. When hundreds of thousands of people's net worth is basically wiped out to further line the pockets of politicians and criminals posing as mortgage bankers there will be consequences.
Monday, August 10, 2009
FREDDIE AND FANNIE COOK BOOKS - AGAIN!
August 10, 2009
Both Fannie Mae and Freddie Mac saw huge increases in their stock prices today, after it was disclosed that both entities intend to restructure their financial situation by basically ignoring their debts. This "approach" is nothing new to either institution, now if average Americans can just figure out how they get away with it, we can all take a "mulligan" and start over!
Both Fannie Mae and Freddie Mac saw huge increases in their stock prices today, after it was disclosed that both entities intend to restructure their financial situation by basically ignoring their debts. This "approach" is nothing new to either institution, now if average Americans can just figure out how they get away with it, we can all take a "mulligan" and start over!
BANKS SEE HUGE WINDFALL FROM OVERDRAFT CHARGES
August 10, 2009
The Financial Times is reporting that banks expect to receive over $38 billion from Americans this year from overdraft charges alone. These figures have been confirmed by JP Morgan Chase, Citibank, Bank of America, and other major banks and are another slap in the face to their customers.
These banks have hiked their charges for overdrawing their accounts in recent months and have added increasing penalties for additional charges against the overdrawn account. There are reports of banks charging a customer $385/day when their account became overdrawn. It's not a question of penalizing for an overdraft, most would agree that some financial penalty is required, but to profit to such an extent from customers who are either already in a poor financial situation or simply made an error reconciling their account is the height of audacity!
We shouldn't be surprised that banks are taking advantage of us. They continue to ignore hundreds of thousands of homeowners who are struggling with fraudulent mortgages that were illegally packaged and sold as investment products. These banks and financial institutions, including mortgage companies and hedge funds, have profited to an astronomical extent at the expense of tax-paying Americans.
By continuing to accept checks and charges against an already overdrawn account, the bank has a huge upside from overdraft charges and the customer has no recourse. Congress must immediately require banks to stop this practice. Penalize the customer once for a reasonable amount, stop taking additional charges against the account and immediately notify the customer when the overdraft occurs.
The Financial Times is reporting that banks expect to receive over $38 billion from Americans this year from overdraft charges alone. These figures have been confirmed by JP Morgan Chase, Citibank, Bank of America, and other major banks and are another slap in the face to their customers.
These banks have hiked their charges for overdrawing their accounts in recent months and have added increasing penalties for additional charges against the overdrawn account. There are reports of banks charging a customer $385/day when their account became overdrawn. It's not a question of penalizing for an overdraft, most would agree that some financial penalty is required, but to profit to such an extent from customers who are either already in a poor financial situation or simply made an error reconciling their account is the height of audacity!
We shouldn't be surprised that banks are taking advantage of us. They continue to ignore hundreds of thousands of homeowners who are struggling with fraudulent mortgages that were illegally packaged and sold as investment products. These banks and financial institutions, including mortgage companies and hedge funds, have profited to an astronomical extent at the expense of tax-paying Americans.
By continuing to accept checks and charges against an already overdrawn account, the bank has a huge upside from overdraft charges and the customer has no recourse. Congress must immediately require banks to stop this practice. Penalize the customer once for a reasonable amount, stop taking additional charges against the account and immediately notify the customer when the overdraft occurs.
CONSERVATIVES NEED HEALTH CARE REALITY CHECK
August 10, 2009
Conservative advocates of defeating the proposed health care reform need to get their message out without hyperbole or fear tactics. There are enough verifiable issues in the proposed legislation to argue over, without introducing potential radical approaches to reform such as "death panels" referenced by former Alaska Governor Sarah Palin last weekend.
Both sides would be well served if they would focus on discussing actual changes being proposed. The trouble is, we don't really know what changes are actually being considered and what those alterations would ultimately mean to the "average" American.
Proponents of the health care reform, like Speaker Pelosi, should also refrain from characterizing those opposing the changes as "Nazis" and "un-American". The vast majority are simply concerned and they are fed-up with efforts to push legislation through without adequate review and debate. The "transparency" that was promised is sorely lacking and it hasn't gone unnoticed by supporters and opponents alike. Tactics like "ratting out" people who provide "fishy" information; SEIU's organized efforts, with input from HHS Secretary Sebelius to derail protesters from attending Town Hall meetings; using comments like "We prefer to use the power of persuasion, but aren't opposed to using the persuasion of power" only give opponents a very real reason to question the Administration's intentions.
Democrats must stop critizing conservatives for "organizing" and "vocal outbursts". These tactics are well known by left-wing liberals and have been used for decades against targets of their efforts for social reform.
Both sides of this issue should focus on civil debate and doing what is right for their constituents, not what gets them the most political capital. Politicians had better start realizing that the old days of staying off the radar, while taking huge "contributions" from special interest groups for supporting their pet projects, is over. They will be held responsible for what they've done for/to their citizens and will pay the price at the polls if they do not deliver.
Conservative advocates of defeating the proposed health care reform need to get their message out without hyperbole or fear tactics. There are enough verifiable issues in the proposed legislation to argue over, without introducing potential radical approaches to reform such as "death panels" referenced by former Alaska Governor Sarah Palin last weekend.
Both sides would be well served if they would focus on discussing actual changes being proposed. The trouble is, we don't really know what changes are actually being considered and what those alterations would ultimately mean to the "average" American.
Proponents of the health care reform, like Speaker Pelosi, should also refrain from characterizing those opposing the changes as "Nazis" and "un-American". The vast majority are simply concerned and they are fed-up with efforts to push legislation through without adequate review and debate. The "transparency" that was promised is sorely lacking and it hasn't gone unnoticed by supporters and opponents alike. Tactics like "ratting out" people who provide "fishy" information; SEIU's organized efforts, with input from HHS Secretary Sebelius to derail protesters from attending Town Hall meetings; using comments like "We prefer to use the power of persuasion, but aren't opposed to using the persuasion of power" only give opponents a very real reason to question the Administration's intentions.
Democrats must stop critizing conservatives for "organizing" and "vocal outbursts". These tactics are well known by left-wing liberals and have been used for decades against targets of their efforts for social reform.
Both sides of this issue should focus on civil debate and doing what is right for their constituents, not what gets them the most political capital. Politicians had better start realizing that the old days of staying off the radar, while taking huge "contributions" from special interest groups for supporting their pet projects, is over. They will be held responsible for what they've done for/to their citizens and will pay the price at the polls if they do not deliver.
Friday, August 7, 2009
PROTESTS UNAMERICAN?
August 7, 2009
My God, we're trying to give the Administration the benefit of the doubt whenever possible, but their criticism of "town hall meetings" being overwhelmed by "organized, astroturf" right-wing zealots would be laughable if not so serious.
The Democratic Party and especially extreme Left-wing liberals have made organized, loud and many times unruly protests their M.O. for the last 45 years. The "organized" approach to protests is a well-documented tactic of radicals beginning with the Black Panthers in the '60s to ACORN and the Pink Ladies today. These groups have historically promoted an extreme Left-wing agenda, with basically no equivalent group(s) representing the Right Wing.
It's recognized that this approach, while personally distasteful, is effective in bringing attention to whatever is being protested. It does not benefit either side when both try to yell over each other, it actually looks extremely juvenile. This is the type of response you'd expect from a 13-year old who's mad at you! It's just such a waste of time trying to simply be the loudest and get in the last word, can't we truly be civilized and speak in turn? We're interested in getting something done, not just who can yell the loudest and longest.
So, let's have both sides quit acting like scorned teenagers and the Democrats have to give up their apparent belief that Right-wing protests are invalid, too organized and mean spirited. Give us a break, anyone with a memory can recall plenty of mean spirited attacks and protests coming from the current majority party and their activist organizations.
We've always allowed this type of protest under our freedom of speech and right of non-violent assembly, even though some Left-wing extremists are allowed to spew the most despicable insults during the funerals of military killed in combat. What reason, other than a pathologic aversion to the military, could these "protesters" have to justify their actions and tirades? Certainly the individual soldier, sailor, airman or marine had done nothing to personally offend these individuals, they were simply defending our Country and following orders.
The percent of Americans who support the actions of those who protest at military funerals is basically an unmeasurable percentage of our population, however, we allow their insults to be yelled and we don't remember anyone in Congress calling them "Nazis" or indicating that the group's intentions weren't valid because they were "organized".
Ms Pelosi, before you call concerned Americans "Nazis", I'd take a look at the Administration's own call for citizens to report "fishy" activity that they'd consider inappropriate. Statements like this do nothing but raise questions in people's minds about the actual intent of the request. Obviously, the Administration expects that most Americans won't equate their request for "fishy" activity reporting to very similar requests made by tyrannical regimes throughout history.
Otherwise they should realize that the request alone would be received poorly and their intentions would be questioned. Senator Dick Durbin has been the most recent to criticize town hall protesters, they should look within before they begin throwing stones.
My God, we're trying to give the Administration the benefit of the doubt whenever possible, but their criticism of "town hall meetings" being overwhelmed by "organized, astroturf" right-wing zealots would be laughable if not so serious.
The Democratic Party and especially extreme Left-wing liberals have made organized, loud and many times unruly protests their M.O. for the last 45 years. The "organized" approach to protests is a well-documented tactic of radicals beginning with the Black Panthers in the '60s to ACORN and the Pink Ladies today. These groups have historically promoted an extreme Left-wing agenda, with basically no equivalent group(s) representing the Right Wing.
It's recognized that this approach, while personally distasteful, is effective in bringing attention to whatever is being protested. It does not benefit either side when both try to yell over each other, it actually looks extremely juvenile. This is the type of response you'd expect from a 13-year old who's mad at you! It's just such a waste of time trying to simply be the loudest and get in the last word, can't we truly be civilized and speak in turn? We're interested in getting something done, not just who can yell the loudest and longest.
So, let's have both sides quit acting like scorned teenagers and the Democrats have to give up their apparent belief that Right-wing protests are invalid, too organized and mean spirited. Give us a break, anyone with a memory can recall plenty of mean spirited attacks and protests coming from the current majority party and their activist organizations.
We've always allowed this type of protest under our freedom of speech and right of non-violent assembly, even though some Left-wing extremists are allowed to spew the most despicable insults during the funerals of military killed in combat. What reason, other than a pathologic aversion to the military, could these "protesters" have to justify their actions and tirades? Certainly the individual soldier, sailor, airman or marine had done nothing to personally offend these individuals, they were simply defending our Country and following orders.
The percent of Americans who support the actions of those who protest at military funerals is basically an unmeasurable percentage of our population, however, we allow their insults to be yelled and we don't remember anyone in Congress calling them "Nazis" or indicating that the group's intentions weren't valid because they were "organized".
Ms Pelosi, before you call concerned Americans "Nazis", I'd take a look at the Administration's own call for citizens to report "fishy" activity that they'd consider inappropriate. Statements like this do nothing but raise questions in people's minds about the actual intent of the request. Obviously, the Administration expects that most Americans won't equate their request for "fishy" activity reporting to very similar requests made by tyrannical regimes throughout history.
Otherwise they should realize that the request alone would be received poorly and their intentions would be questioned. Senator Dick Durbin has been the most recent to criticize town hall protesters, they should look within before they begin throwing stones.
Thursday, August 6, 2009
CONGRESS GETS THREE NEW PRIVATE JETS
August 6, 2009
Congress has quietly authorized $200 million for the Air Force to purchase three "military versions" of the Gulfstream G550 jet to add to a fleet currently used by members of Congress and other top government officials. This little purchase was inserted into the House's 2010 Defense Appropriations Bill and overwhelmingly passed 400 to 30 on July 30. The Air Force had requested one additional jet, but apparently Congressional advocates of the purchase couldn't reign in their desire to assure that they'll be able to continue living the "high life".
When members of Congress criticized auto executives for flying to Washington on the company's private jets, is it any wonder they'd want to keep this "little" expenditure quiet? What is so different between the weak financial situation that faced the automakers and the critical condition of the government's coffers? One difference is that the money being used to purchase jets for Congress belongs to taxpayers and should not be used as a Congressional slush fund! The automaker's decision to purchase their aircraft was between the company and their stockholders.
This expenditure was muscled through the House by two Georgia members, Jack Kingston (R)and Sanford Bishop (D). It should come as no surprise that Gulfstream just happens to manufacture its aircraft in Georgia and both Bishop and Kingston have received multi-thousand dollar campaign contributions from the parent company (i.e., General Dynamics) of Gulfstream over the past 2 years.
Congress has quietly authorized $200 million for the Air Force to purchase three "military versions" of the Gulfstream G550 jet to add to a fleet currently used by members of Congress and other top government officials. This little purchase was inserted into the House's 2010 Defense Appropriations Bill and overwhelmingly passed 400 to 30 on July 30. The Air Force had requested one additional jet, but apparently Congressional advocates of the purchase couldn't reign in their desire to assure that they'll be able to continue living the "high life".
When members of Congress criticized auto executives for flying to Washington on the company's private jets, is it any wonder they'd want to keep this "little" expenditure quiet? What is so different between the weak financial situation that faced the automakers and the critical condition of the government's coffers? One difference is that the money being used to purchase jets for Congress belongs to taxpayers and should not be used as a Congressional slush fund! The automaker's decision to purchase their aircraft was between the company and their stockholders.
This expenditure was muscled through the House by two Georgia members, Jack Kingston (R)and Sanford Bishop (D). It should come as no surprise that Gulfstream just happens to manufacture its aircraft in Georgia and both Bishop and Kingston have received multi-thousand dollar campaign contributions from the parent company (i.e., General Dynamics) of Gulfstream over the past 2 years.
Pentagon spokesman Geoff Morrell said that the Air Force had asked for only what it needed when they requested one additional jet. He added, "Congress would be the one who would best be equipped to answer why it is they have added additional Gulfstreams to the budget."
So, can we get an explanation? Congress is telling everyone to tighten their belts, make cuts and make do with less while they do exactly the opposite. This may be Speaker Pelosi trying to take revenge for her previous attempts to upgrade her flying options. Peter Roff from U.S. News and World Reports has apparently wondered the same thing. In his August 6th column he wrote:
"It may be that Speaker Pelosi has wearied of traveling back and forth to her luxury San Francisco apartment with its beautiful view on commercial flights or that the schedules to and from Washington Dulles International Airport just don't fit in very well with her plans. She is, after all, a grandmother, as her partisans like to remind us all, and the travel might be too strenuous. But it also may be that she just doesn't like having to call up the Department of Defense to ask to borrow a plane when she or her congressional colleagues want to jet off someplace.
Remember, this is not the first time Pelosi's airplane fetish has been in the news. In February 2007, ABC News reported on the Pentagon's refusal to honor her request "for use of a military plane that can fly to and from her home district in San Francisco without having to stop to refuel."
The Pentagon offered Pelosi the same plane that her predecessor, Republican Dennis Hastert, R-Ill., had used—but that wasn't good enough—maybe because of the restrictions that came with it: no more than 10 passengers; no travel to political events; members of Pelosi's family couldn't fly unless she made a request in writing (and the family would have to reimburse the U.S. Treasury for the cost of a coach ticket per person for the travel plus the cost of any food); members of Congress couldn't fly on the plane unless their travel has been cleared with the House Ethics Committee; and Pelosi's multimillionaire husband could fly for free with her only for official protocol purposes".
OK Speaker Pelosi, Representatives Kingston and Bishop, let's start with your little group. Setting aside the routine answers about it helping your constituents by creating jobs and "time savings" gained by avoiding commercial flights, what could you have been thinking? We are trying to CUT spending and ELIMINATE excess, do you understand those concepts?
HOMEOWNER'S STABILITY INITIATIVE - CONGRESSIONAL/BANKING SCAM?
August 6, 2009
It's beginning to look like the Homeowner's Stability Initiative program and the $75 billion that was to fund it, is being used to further line the pockets of everyone but homeowners. Months have passed with no action to even formally implement the program, instead Congress allows lenders to continue to foreclose on homes that could have been saved under the program.
We're calling on the House Banking Committee and Chairman Barney Frank and the Senate Finance Committee and Chairman Max Baucus to immediately investigate why this program is apparently being blocked and why the money to fund the program is being used for other purposes.
Why is Congress refusing to help homeowners? It's estimated that nearly 50% of all homes with mortgages will be "underwater" in the next 2 years. Does Congress and lenders really think Americans are so stupid that they will continue to pay on these loans? And, just because "existing" home sales have risen recently, does Washington think we don't realize it's because foreclosed houses are being sold at greatly reduced prices? This is the real estate recovery they're predicting? I guess the economy will really spring to life when greedy lenders have foreclosed on half of all homes with a loan!
Mr. Frank, Mr. Baucus, you must immediately require ALL lenders to contact homeowners and offer them a new, low interest, fixed-rate mortgage AND a reduction of principal inline with current market values. The new mortgage must include paying all outstanding State property taxes and insurance payments and adding that amount to the new principal. The new fixed-rate mortgage must also require the mortgage company to escrow money from monthly payments to cover paying annual property tax and insurance payments in the future.
It's beginning to look like the Homeowner's Stability Initiative program and the $75 billion that was to fund it, is being used to further line the pockets of everyone but homeowners. Months have passed with no action to even formally implement the program, instead Congress allows lenders to continue to foreclose on homes that could have been saved under the program.
We're calling on the House Banking Committee and Chairman Barney Frank and the Senate Finance Committee and Chairman Max Baucus to immediately investigate why this program is apparently being blocked and why the money to fund the program is being used for other purposes.
Why is Congress refusing to help homeowners? It's estimated that nearly 50% of all homes with mortgages will be "underwater" in the next 2 years. Does Congress and lenders really think Americans are so stupid that they will continue to pay on these loans? And, just because "existing" home sales have risen recently, does Washington think we don't realize it's because foreclosed houses are being sold at greatly reduced prices? This is the real estate recovery they're predicting? I guess the economy will really spring to life when greedy lenders have foreclosed on half of all homes with a loan!
Mr. Frank, Mr. Baucus, you must immediately require ALL lenders to contact homeowners and offer them a new, low interest, fixed-rate mortgage AND a reduction of principal inline with current market values. The new mortgage must include paying all outstanding State property taxes and insurance payments and adding that amount to the new principal. The new fixed-rate mortgage must also require the mortgage company to escrow money from monthly payments to cover paying annual property tax and insurance payments in the future.
Wednesday, August 5, 2009
OBAMA WANTS "CIVILIAN" PARA-MILITARY GROUP?
August 5, 2009
On July 2, 2008, during a campaign appearance in Colorado Springs, candidate Barack Obama was explaining his plans to expand the Peace Corps and the Americorp program when he suddenly made another statement, which has been totally ignored by both mainstream print and broadcast media.
The candidate, now President, said "We cannot continue to rely on our military in order to achieve the national security objectives we've set. We've got to have a civilian national security force that's just as powerful, just as strong, just as well-funded."
The first response from Obama supporters will be that his statement was taken "out of context". That's sometimes a valid concern, however, we try very hard to be totally objective in our reporting, so a full video clip of his statement from that appearance can be played at:
http://www.youtube.com/watch?v=Tt2yGzHfy7s
so watch and decide for yourself.
Granted candidates sometimes say things that they subsequently have to reverse or retract and sometimes they just "stupidly" executing their rhetoric, but this is off the scale. This statement cannot be simply ignored. President Obama must explain exactly what he meant - especially since the plan has apparently been getting the hush-hush from virtually everyone, except for a few independent, truth-seeking bloggers. Why would broadcast news commentators and anchors from programs/networks and editors/investigative reporters from print media, most with fairly obvious political preferences, choose to completely ignore this issue?
Is it too much to ask for the President to disclose what his intentions are/were in relation to this statement, one important enough for him to deliberately include in his prepared speech? Not only would the creation of such a "security force" be a hotly debated issue, it would have a potentially devastating impact on our fragile economy. Well, maybe we've hit on the reason for the silence. Let's hope it's not hidden in the proposed "health care" legislation, most members of Congress have a problem reading an entire bill and midnight additions are common.
Bottom line: All Americans deserve to have an explanation and now!
On July 2, 2008, during a campaign appearance in Colorado Springs, candidate Barack Obama was explaining his plans to expand the Peace Corps and the Americorp program when he suddenly made another statement, which has been totally ignored by both mainstream print and broadcast media.
The candidate, now President, said "We cannot continue to rely on our military in order to achieve the national security objectives we've set. We've got to have a civilian national security force that's just as powerful, just as strong, just as well-funded."
The first response from Obama supporters will be that his statement was taken "out of context". That's sometimes a valid concern, however, we try very hard to be totally objective in our reporting, so a full video clip of his statement from that appearance can be played at:
http://www.youtube.com/watch?v=Tt2yGzHfy7s
so watch and decide for yourself.
Granted candidates sometimes say things that they subsequently have to reverse or retract and sometimes they just "stupidly" executing their rhetoric, but this is off the scale. This statement cannot be simply ignored. President Obama must explain exactly what he meant - especially since the plan has apparently been getting the hush-hush from virtually everyone, except for a few independent, truth-seeking bloggers. Why would broadcast news commentators and anchors from programs/networks and editors/investigative reporters from print media, most with fairly obvious political preferences, choose to completely ignore this issue?
Is it too much to ask for the President to disclose what his intentions are/were in relation to this statement, one important enough for him to deliberately include in his prepared speech? Not only would the creation of such a "security force" be a hotly debated issue, it would have a potentially devastating impact on our fragile economy. Well, maybe we've hit on the reason for the silence. Let's hope it's not hidden in the proposed "health care" legislation, most members of Congress have a problem reading an entire bill and midnight additions are common.
Bottom line: All Americans deserve to have an explanation and now!
Tuesday, August 4, 2009
WHERE ARE THE ENVIRONMENTAL ADVOCATES?
August 4, 2009
The government's "Cash for Clunkers" program is pressing ahead and additional funds are being sought to take even more "clunkers" off the road. Surprisingly, environmental groups (who actively backed the Obama candidacy) have been totally silent concerning the impact of this program on our environment.
What is happening to all of the engine oil, transmission fluids, coolant, refrigerant removed from these automobiles? How about the engines that have been destroyed by running basically ground glass in them until they freeze up? What are you going to do with that mess, further grind it up and use it for what - landfills, bunkers, to seal radioactive/infectious material? Doesn't the American taxpayers deserve to know what the impact of this program is beyond the further destruction of our economy?
The silence of environmental groups says a ton about how all of these groups have sided with the Administration. When it benefits their agenda, they'll go nuts trying to stop the destruction of the "whistling sparrow mouse", but when it doesn't we can expect them to totally ignore the issue. A group as different from the Sierra Club as the AARP is another example of siding with the Administration instead of promoting the policies and best interests of their members. The AARP thinks the health care initiatives are just what we need. Really? Your members really want their benefits decreased and want to be "counseled" by a government employee on when they may be too old to receive appropriate medical care?
The government's "Cash for Clunkers" program is pressing ahead and additional funds are being sought to take even more "clunkers" off the road. Surprisingly, environmental groups (who actively backed the Obama candidacy) have been totally silent concerning the impact of this program on our environment.
What is happening to all of the engine oil, transmission fluids, coolant, refrigerant removed from these automobiles? How about the engines that have been destroyed by running basically ground glass in them until they freeze up? What are you going to do with that mess, further grind it up and use it for what - landfills, bunkers, to seal radioactive/infectious material? Doesn't the American taxpayers deserve to know what the impact of this program is beyond the further destruction of our economy?
The silence of environmental groups says a ton about how all of these groups have sided with the Administration. When it benefits their agenda, they'll go nuts trying to stop the destruction of the "whistling sparrow mouse", but when it doesn't we can expect them to totally ignore the issue. A group as different from the Sierra Club as the AARP is another example of siding with the Administration instead of promoting the policies and best interests of their members. The AARP thinks the health care initiatives are just what we need. Really? Your members really want their benefits decreased and want to be "counseled" by a government employee on when they may be too old to receive appropriate medical care?
CASH FOR ....?
August 4, 2009
Now that the automakers have been further "stimulated" by the "Cash for Clunkers" program, who's next in line? The $75 billion earmarked for the "Homeowners Stability Initiative" is being whittled away by more handouts to everyone but homeowners. After many months, this program is inexplicably spinning its wheels and distressed homeowners wait for the assistance promised by the Obama administration. This is another example of the money set aside for the Homeowner's Stability Initiative program going to help other causes - namely, those with a stronger lobby in Washington (i.e., banks, brokers, insurance, automakers, etc.).
In areas hardest hit by the real estate collapse, especially in areas with historically high home prices, this program could provide significant relief. There has been no assistance provided to homeowners with "jumbo" loans, who now see their investments further and further underwater and who have suffered larger losses, percentage wise, than most. Is the Administration and Congress purposely ignoring the housing issue? They seem buoyed by recent increases in pending home sales and hesitant to take action.
The problem with the increased pending home sales figures is that they mainly represent foreclosed properties that are being sold far below market value. Not only does this not help homeowners trying to retain their homes, it further depresses comparative values of the surrounding neighborhoods making a real recovery of prices impossible.
There has been extensive reporting of the increase in "pending" home sales, but nothing is being said about the reason or consequences associated with this perceived recovery. An average of only 15% of eligible mortgagees have even been approached by their lenders to modify their loans, with some lenders only at 4%. These are the "big boys" of course, Citibank, Bank of America, Wells Fargo - well you know the players. And the "mortgage servicers" like Saxon Mortgage are simply a joke. They are simply shilling for "investors" who, for some strange reason, wish to remain anonymous. These companies are required to produce the actual names of the "investors" if requested by the mortgagee. However, we've heard of no one who has actually gotten a response. By ignoring this request, they should have all of their rights concerning foreclosure stripped. Furthermore, these "servicers" should be required to pay off each mortgage that they've ignored and the "investor" must then turn over the property to the homeowner with a clear title. Only by creating significant penalties will these crooks begin to play by the rules.
Principal reduction is an huge and important issue that lenders still refuse to address. They will not face reality, instead they are certain Washington will protect them from having to do the right thing. How can lenders expect homeowners to continue to pay property taxes on a home that is now worth 30%-40% less than the mortgage and the value listed on the tax rolls? Property taxes are a huge annual payment for homeowners living in States with excessive taxes and this tax can represent a difference of $10,000 or more between the inflated value of the home recorded on the tax rolls versus the current market value of the home. Again, these State governments are insisting that homeowners pay the inflated tax bill, so that culprits like California can continue to support illegals. Do we really want to give these clowns our money to simply play with as they please?
So what's the homeowner to do? Lenders would love to continue down the current path, foreclose on as many homes as possible and continue to ring their cash register. All homeowners who are currently underwater in their loans must insist that Congress address this issue immediately. Withholding property tax payments, while potentially hurting a home owner's credit rating, is the only way to get State governments to address the problem. We are advocating that all homeowners adopt this stance and demand State and Federal governments take action before more hostile approaches are taken by taxpayers. While we do not approve of civil disorder, our elected officials had better wake-up before they are faced with some very difficult decisions.
Distressed homeowners deserve the same attention that other troubled institutions have promptly received. Banks, mortgage companies, insurance companies, and the auto industry have enjoyed multiple injections of taxpayer money to keep them alive. Many of these recipients of taxpayer money are the same entities that caused the crisis, but they are strangely the first to find relief.
Speaker Pelosi, Chairman Frank, Secretary Geithner, Representatives and Congressmen from California (where property taxes and State taxes in general are totally out of control and unsustainable) are in positions to get some action for homeowners. For example, exactly what has House Representative Lois Capps, who represents some of the highest property value areas in Southern California, done for her constituents? The answer is NOTHING! She has meekly sat by as her District continues to see huge decreases in property values. We warned that we would begin calling out individual members of Congress that are doing nothing for their constituents. Unfortunately, it's beginning to look like I'll be listing quite a few names from both sides of the aisle.
These elected officials are totally in the pocket of banks and lenders and fear for their political lives. I can guarantee that this is not something they need worry about. If they do not take immediate action, voters will decide for them and the result is going to be very disappointing for them.
Now that the automakers have been further "stimulated" by the "Cash for Clunkers" program, who's next in line? The $75 billion earmarked for the "Homeowners Stability Initiative" is being whittled away by more handouts to everyone but homeowners. After many months, this program is inexplicably spinning its wheels and distressed homeowners wait for the assistance promised by the Obama administration. This is another example of the money set aside for the Homeowner's Stability Initiative program going to help other causes - namely, those with a stronger lobby in Washington (i.e., banks, brokers, insurance, automakers, etc.).
In areas hardest hit by the real estate collapse, especially in areas with historically high home prices, this program could provide significant relief. There has been no assistance provided to homeowners with "jumbo" loans, who now see their investments further and further underwater and who have suffered larger losses, percentage wise, than most. Is the Administration and Congress purposely ignoring the housing issue? They seem buoyed by recent increases in pending home sales and hesitant to take action.
The problem with the increased pending home sales figures is that they mainly represent foreclosed properties that are being sold far below market value. Not only does this not help homeowners trying to retain their homes, it further depresses comparative values of the surrounding neighborhoods making a real recovery of prices impossible.
There has been extensive reporting of the increase in "pending" home sales, but nothing is being said about the reason or consequences associated with this perceived recovery. An average of only 15% of eligible mortgagees have even been approached by their lenders to modify their loans, with some lenders only at 4%. These are the "big boys" of course, Citibank, Bank of America, Wells Fargo - well you know the players. And the "mortgage servicers" like Saxon Mortgage are simply a joke. They are simply shilling for "investors" who, for some strange reason, wish to remain anonymous. These companies are required to produce the actual names of the "investors" if requested by the mortgagee. However, we've heard of no one who has actually gotten a response. By ignoring this request, they should have all of their rights concerning foreclosure stripped. Furthermore, these "servicers" should be required to pay off each mortgage that they've ignored and the "investor" must then turn over the property to the homeowner with a clear title. Only by creating significant penalties will these crooks begin to play by the rules.
Principal reduction is an huge and important issue that lenders still refuse to address. They will not face reality, instead they are certain Washington will protect them from having to do the right thing. How can lenders expect homeowners to continue to pay property taxes on a home that is now worth 30%-40% less than the mortgage and the value listed on the tax rolls? Property taxes are a huge annual payment for homeowners living in States with excessive taxes and this tax can represent a difference of $10,000 or more between the inflated value of the home recorded on the tax rolls versus the current market value of the home. Again, these State governments are insisting that homeowners pay the inflated tax bill, so that culprits like California can continue to support illegals. Do we really want to give these clowns our money to simply play with as they please?
So what's the homeowner to do? Lenders would love to continue down the current path, foreclose on as many homes as possible and continue to ring their cash register. All homeowners who are currently underwater in their loans must insist that Congress address this issue immediately. Withholding property tax payments, while potentially hurting a home owner's credit rating, is the only way to get State governments to address the problem. We are advocating that all homeowners adopt this stance and demand State and Federal governments take action before more hostile approaches are taken by taxpayers. While we do not approve of civil disorder, our elected officials had better wake-up before they are faced with some very difficult decisions.
Distressed homeowners deserve the same attention that other troubled institutions have promptly received. Banks, mortgage companies, insurance companies, and the auto industry have enjoyed multiple injections of taxpayer money to keep them alive. Many of these recipients of taxpayer money are the same entities that caused the crisis, but they are strangely the first to find relief.
Speaker Pelosi, Chairman Frank, Secretary Geithner, Representatives and Congressmen from California (where property taxes and State taxes in general are totally out of control and unsustainable) are in positions to get some action for homeowners. For example, exactly what has House Representative Lois Capps, who represents some of the highest property value areas in Southern California, done for her constituents? The answer is NOTHING! She has meekly sat by as her District continues to see huge decreases in property values. We warned that we would begin calling out individual members of Congress that are doing nothing for their constituents. Unfortunately, it's beginning to look like I'll be listing quite a few names from both sides of the aisle.
These elected officials are totally in the pocket of banks and lenders and fear for their political lives. I can guarantee that this is not something they need worry about. If they do not take immediate action, voters will decide for them and the result is going to be very disappointing for them.
Friday, July 31, 2009
WHAT DID THE BIG BANKS DO WITH THE "TARP" FUNDS?
July 31, 2009
It was being described as "the brink of financial Armageddon" when America's largest banks and brokerages accepted billions of dollars in taxpayer money in late 2008 to rescue them from collapse. We now know that these financial concerns took advantage of loose governmental requirements for tracking the TARP funds and have now made a miraculous recovery.
The TARP funds were approved by Congress to allow the U.S. Treasury to purchase or insure up to $700 billion of "troubled" assets. "Troubled assets", in the legislation, were defined as "(A) residential or commercial mortgages and any securities, obligations, or other instruments that are based on or related to such mortgages, that in each case was originated or issued on or before March 14, 2008, the purchase of which the Secretary determines promotes financial market stability; and (B) any other financial instrument that the Secretary, after consultation with the Chairman of the Board of Governors of the Federal Reserve System, determines the purchase of which is necessary to promote financial market stability, but only upon transmittal of such determination, in writing, to the appropriate committees of Congress.
Not only were mortgages and securities related to mortgages the main target of the legislation, strangely they were the only "troubled assets" NOT addressed following release of the rescue funds. Instead, the money went to big banks and brokerage firms, insurance companies, hedge companies and pretty much anyone else to use for anything but distressed mortgages.
It is now being revealed by N.Y. Attorney General Andrew Cuomo that nine banks and brokerages such as Chase, Merrill Lynch, Citibank, and the Bank of America received $175 billion in TARP funds after claiming over $100 billion in 2008 losses. The banks involved have seen an amazing turnaround and are now reporting huge profits. It's just incredible what you can do with "free" money! The banks were so happy that Chase (Jamie Dimon CEO), who received $25 billion in "rescue funds", gave away $33 billion to executives as bonus payments. Merrill Lynch (Stan O'Neal and John Thain CEOs) received $27 billion and rewarded their genius execs with $3.6 billion in bonuses and now are part of Bank of America; Citibank (Vikram Pandit CEO), a recipient of $45 billion were so thrilled with their executive's performance that they threw bonuses worth $5.3 billion at these super financiers.
Getting the message? It was more important to further compensate the criminal bankers who conspired to bring down the real estate market, while manipulating the entire process, than to provide some assistance to distressed homeowners. Billions in bonuses to crooks while nothing to the victims of these bloodsuckers, even when funds were specifically targeted for that very purpose.
Unless Congress brings down the hammer on these CEOs, their henchmen, their Boards and the heads of companies further down the food chain (mortgage brokers/servicers, hedge funds, insurance companies), the American voters are going to show their displeasure at the next election opportunity. Bankers should also take note, because bloggers will be relentless in exposing the names of all of the players who have profited at the expense of homeowners and all taxpayers.
A full report from the Cuomo investigation is available at:
http://www.reuters.com/article/ousiv/idUSTRE49S85720081029
It was being described as "the brink of financial Armageddon" when America's largest banks and brokerages accepted billions of dollars in taxpayer money in late 2008 to rescue them from collapse. We now know that these financial concerns took advantage of loose governmental requirements for tracking the TARP funds and have now made a miraculous recovery.
The TARP funds were approved by Congress to allow the U.S. Treasury to purchase or insure up to $700 billion of "troubled" assets. "Troubled assets", in the legislation, were defined as "(A) residential or commercial mortgages and any securities, obligations, or other instruments that are based on or related to such mortgages, that in each case was originated or issued on or before March 14, 2008, the purchase of which the Secretary determines promotes financial market stability; and (B) any other financial instrument that the Secretary, after consultation with the Chairman of the Board of Governors of the Federal Reserve System, determines the purchase of which is necessary to promote financial market stability, but only upon transmittal of such determination, in writing, to the appropriate committees of Congress.
Not only were mortgages and securities related to mortgages the main target of the legislation, strangely they were the only "troubled assets" NOT addressed following release of the rescue funds. Instead, the money went to big banks and brokerage firms, insurance companies, hedge companies and pretty much anyone else to use for anything but distressed mortgages.
It is now being revealed by N.Y. Attorney General Andrew Cuomo that nine banks and brokerages such as Chase, Merrill Lynch, Citibank, and the Bank of America received $175 billion in TARP funds after claiming over $100 billion in 2008 losses. The banks involved have seen an amazing turnaround and are now reporting huge profits. It's just incredible what you can do with "free" money! The banks were so happy that Chase (Jamie Dimon CEO), who received $25 billion in "rescue funds", gave away $33 billion to executives as bonus payments. Merrill Lynch (Stan O'Neal and John Thain CEOs) received $27 billion and rewarded their genius execs with $3.6 billion in bonuses and now are part of Bank of America; Citibank (Vikram Pandit CEO), a recipient of $45 billion were so thrilled with their executive's performance that they threw bonuses worth $5.3 billion at these super financiers.
Getting the message? It was more important to further compensate the criminal bankers who conspired to bring down the real estate market, while manipulating the entire process, than to provide some assistance to distressed homeowners. Billions in bonuses to crooks while nothing to the victims of these bloodsuckers, even when funds were specifically targeted for that very purpose.
Unless Congress brings down the hammer on these CEOs, their henchmen, their Boards and the heads of companies further down the food chain (mortgage brokers/servicers, hedge funds, insurance companies), the American voters are going to show their displeasure at the next election opportunity. Bankers should also take note, because bloggers will be relentless in exposing the names of all of the players who have profited at the expense of homeowners and all taxpayers.
A full report from the Cuomo investigation is available at:
http://www.reuters.com/article/ousiv/idUSTRE49S85720081029
Thursday, July 30, 2009
SENATE TO INVESTIGATE BANKS & BROKERAGE FIRMS FOR RESIDENTIAL MORTGAGE FRAUD
July 31, 2009
In an encouraging move by the Senate, a panel is reportedly investigating a number of banks and brokerage houses including Goldman Sachs, Washington Mutual, Deutsch Bank for mortgage fraud. This is the best news homeowners have received during the housing crisis that was initiated when these financial concerns got too greedy.
It's being alleged that many financial institutions engaged in fraud when they knowingly allowed unqualified applicants to obtain mortgages. They subsequently "bundled" these "liar loans/no doc loans" with other more stable mortgages, misrepresented the quality of the mortgages for the rating agencies and then sold them as investment securities.
These greed-driven criminals were so confident that they had the perfect scam that they had the audacity to take out insurance against the securities they had sold to protect them from losses when their plan to destroy the real estate market came to fruition. The insurance company (AIG) couldn't pay when the claims came in and the taxpayer had to step in and actually pay these crooks AGAIN! Now, they'd like to get the property back through foreclosure so they can profit even further.
It's hard to believe they've been able to successfully divert attention from their guilt, but homeowners are beginning to put the pieces together. The picture that is developing implicates Congressional members such as Chris Dodd, Kent Conrad, and Barney Frank among others who will be fully exposed during the fraud investigation.
In an encouraging move by the Senate, a panel is reportedly investigating a number of banks and brokerage houses including Goldman Sachs, Washington Mutual, Deutsch Bank for mortgage fraud. This is the best news homeowners have received during the housing crisis that was initiated when these financial concerns got too greedy.
It's being alleged that many financial institutions engaged in fraud when they knowingly allowed unqualified applicants to obtain mortgages. They subsequently "bundled" these "liar loans/no doc loans" with other more stable mortgages, misrepresented the quality of the mortgages for the rating agencies and then sold them as investment securities.
These greed-driven criminals were so confident that they had the perfect scam that they had the audacity to take out insurance against the securities they had sold to protect them from losses when their plan to destroy the real estate market came to fruition. The insurance company (AIG) couldn't pay when the claims came in and the taxpayer had to step in and actually pay these crooks AGAIN! Now, they'd like to get the property back through foreclosure so they can profit even further.
It's hard to believe they've been able to successfully divert attention from their guilt, but homeowners are beginning to put the pieces together. The picture that is developing implicates Congressional members such as Chris Dodd, Kent Conrad, and Barney Frank among others who will be fully exposed during the fraud investigation.
Tuesday, July 28, 2009
DISTRESSED HOMEOWNERS IGNORED BY MORTGAGE COMPANIES, BANKS
July 28, 2009
On February 18, 2009, President Obama announced a $75 billion program "The Homeowner Stability Initiative" to assist distressed homeowners and help rescue their homes from foreclosure. The intent was right on target, but implementation has been ignored by holders of residential mortgages. It has to be apparent that the holders of these notes are going to do everything possible to profit even more from the fraud that they have engaged in and greed they have continued to show throughout this crisis.
This well-intentioned program has not only been under promoted, it has barely been implemented. To date, the program has been used on a "trial basis only" according to Administration sources. You have to ask yourself why, when 1.5 million homeowners have lost their homes to foreclosure already this year and it is estimated that 5 to 6 million may suffer the same fate before this situation stabilizes, aren't the Program's funds being utilized with the same speed as "rescue funds" given to insurance companies, banks, automakers, etc.?
There can only be one answer. Lobbyists for the banking/mortgage company crooks and personal relationships between their CEOs and politicians on Capital Hill are preventing these committed funds from being used to ease the rate of foreclosures. These people have no conscience and have only one goal: Squeeze every dollar they can from this scheme because it's unlikely they can pull off a beauty like this one again right away.
Homeowners facing foreclosure and those who continue to be ignored by their mortgage companies must insist that this program be instituted completely and immediately! The Administration must also insist that all pending foreclosures be reviewed by an unbiased Program panel prior to a sale being scheduled. Additional sanctions should also be levied upon these unresponsive financial institutions to stop further abuses of homeowners by these greed-driven individuals.
An MSNBC article from February 18th that announced the Program is linked below:
http://www.msnbc.msn.com/id/29256639#storyContinued
On February 18, 2009, President Obama announced a $75 billion program "The Homeowner Stability Initiative" to assist distressed homeowners and help rescue their homes from foreclosure. The intent was right on target, but implementation has been ignored by holders of residential mortgages. It has to be apparent that the holders of these notes are going to do everything possible to profit even more from the fraud that they have engaged in and greed they have continued to show throughout this crisis.
This well-intentioned program has not only been under promoted, it has barely been implemented. To date, the program has been used on a "trial basis only" according to Administration sources. You have to ask yourself why, when 1.5 million homeowners have lost their homes to foreclosure already this year and it is estimated that 5 to 6 million may suffer the same fate before this situation stabilizes, aren't the Program's funds being utilized with the same speed as "rescue funds" given to insurance companies, banks, automakers, etc.?
There can only be one answer. Lobbyists for the banking/mortgage company crooks and personal relationships between their CEOs and politicians on Capital Hill are preventing these committed funds from being used to ease the rate of foreclosures. These people have no conscience and have only one goal: Squeeze every dollar they can from this scheme because it's unlikely they can pull off a beauty like this one again right away.
Homeowners facing foreclosure and those who continue to be ignored by their mortgage companies must insist that this program be instituted completely and immediately! The Administration must also insist that all pending foreclosures be reviewed by an unbiased Program panel prior to a sale being scheduled. Additional sanctions should also be levied upon these unresponsive financial institutions to stop further abuses of homeowners by these greed-driven individuals.
An MSNBC article from February 18th that announced the Program is linked below:
http://www.msnbc.msn.com/id/29256639#storyContinued
HOW DO YOU GET A RANGEL TAX DEAL?
July 28, 2009
In a matter that has gotten little attention from the mainstream media, Way and Means Committee Chairman, Charles Rangel (D-NY) has, so far, been able to stonewall efforts to "encourage" him to PAY HIS TAXES!!
This is the guy responsible for actually writing the tax code and he has the audacity to think that he is above the requirements he forces upon the rest of us. The Wall Street Journal is finally putting some pressure on him today in its lead editorial entitled “Morality and Charlie Rangel’s Taxes”.
The following are excerpts from an excellent overview from today's WSJ's editorial.
"Ever notice that those who endorse high taxes and those who actually pay them aren’t the same people? Consider the curious case of Ways and Means Chairman Charlie Rangel, who is leading the charge for a new 5.4-percentage point income tax surcharge and recently called it “the moral thing to do.” About his own tax liability he seems less, well, fervent."
"Exhibit A concerns a rental property Mr. Rangel purchased in 1987 at the Punta Cana Yacht Club in the Dominican Republic. The rental income from that property ought to be substantial since it is a luxury beach-front villa and is more often than not rented out. But when the National Legal and Policy Center looked at Mr. Rangel’s House financial disclosure forms in August, it noted that his reported income looked suspiciously low. In 2004 and 2005, he reported no more than $5,000, and in 2006 and 2007 no income at all from the property".
We were delighted when Rangel admitted to failing to report and disclose his rental income, but we were puzzled that the media simply accepted Rangel’s figure of $75,000 when it appeared the total was much higher.
"We have provided additional information about this income in a Complaint to the Internal Revenue Service. Maybe Rangel realizes that his estimate of unreported and undisclosed income will not fly. As the Journal points out:
Mr. Rangel promised last fall to amend his tax returns, pay what is due and correct the information on his annual financial disclosure form. But the deadline for the 2008 filing was May 15 and as of last week he still had not filed. His press spokesman declined to answer questions about anything related to his ethics problems.
Besides not paying those pesky taxes, Mr. Rangel had other reasons for wanting to hide income. As the tenant of four rent-stabilized apartments in Harlem, the Congressman needed to keep his annual reported income below $175,000, lest he be ineligible as a hardship case for rent control. (He also used one of the apartments as an office in violation of rent-control rules, but that’s another story.)
Mr. Rangel said last fall that “I never had any idea that I got any income’’ from the villa. Try using that one the next time the IRS comes after you. Equally interesting is his claim that he didn’t know that the developer of the Dominican Republic villa had converted his $52,000 mortgage to an interest-free loan in 1990. That would seem to violate House rules on gifts, which say Members may only accept loans on “terms that are generally available to the public.” Try getting an interest-free loan from your banker."
The editorial notes another NLPC-exposed instance of Rangel cheating on his taxes:
The National Legal and Policy Center also says it has confirmed that Mr. Rangel owned a home in Washington from 1971-2000 and during that time claimed a “homestead” exemption that allowed him to save on his District of Columbia property taxes. However, the homestead exemption only applies to a principal residence, and the Washington home could not have qualified as such since Mr. Rangel’s rent-stabilized apartments in New York have the same requirement.
The House Ethics Committee is supposedly investigating Rangel’s tax evasion, as well as a Rangel-led, Citigroup-funded junket to the Caribbean, also exposed by NLPC. Add to the list the propriety of donations to the so-called Charles B. Rangel Center for Public Service at City College of New York.
Until recently, Rangel was predicting an imminent and total exoneration by the Ethics Committee. This prediction was echoed by Eugene Isenberg, the Chairman of Nabors Industries, when I confronted him at the Nabors’ annual meeting on June 2. Isenberg made a million dollar pledge to the Rangel Center at the same time Rangel was preserving a lucrative tax break for the company.
Rangel and Isenberg may be right. The Ethics Committee, under the thumb of House Speaker Nancy Pelosi, is perfectly capable of clearing tax-evader Rangel of wrongdoing, even as Congress levies big, new taxes on the American people.
In a matter that has gotten little attention from the mainstream media, Way and Means Committee Chairman, Charles Rangel (D-NY) has, so far, been able to stonewall efforts to "encourage" him to PAY HIS TAXES!!
This is the guy responsible for actually writing the tax code and he has the audacity to think that he is above the requirements he forces upon the rest of us. The Wall Street Journal is finally putting some pressure on him today in its lead editorial entitled “Morality and Charlie Rangel’s Taxes”.
The following are excerpts from an excellent overview from today's WSJ's editorial.
"Ever notice that those who endorse high taxes and those who actually pay them aren’t the same people? Consider the curious case of Ways and Means Chairman Charlie Rangel, who is leading the charge for a new 5.4-percentage point income tax surcharge and recently called it “the moral thing to do.” About his own tax liability he seems less, well, fervent."
"Exhibit A concerns a rental property Mr. Rangel purchased in 1987 at the Punta Cana Yacht Club in the Dominican Republic. The rental income from that property ought to be substantial since it is a luxury beach-front villa and is more often than not rented out. But when the National Legal and Policy Center looked at Mr. Rangel’s House financial disclosure forms in August, it noted that his reported income looked suspiciously low. In 2004 and 2005, he reported no more than $5,000, and in 2006 and 2007 no income at all from the property".
We were delighted when Rangel admitted to failing to report and disclose his rental income, but we were puzzled that the media simply accepted Rangel’s figure of $75,000 when it appeared the total was much higher.
"We have provided additional information about this income in a Complaint to the Internal Revenue Service. Maybe Rangel realizes that his estimate of unreported and undisclosed income will not fly. As the Journal points out:
Mr. Rangel promised last fall to amend his tax returns, pay what is due and correct the information on his annual financial disclosure form. But the deadline for the 2008 filing was May 15 and as of last week he still had not filed. His press spokesman declined to answer questions about anything related to his ethics problems.
Besides not paying those pesky taxes, Mr. Rangel had other reasons for wanting to hide income. As the tenant of four rent-stabilized apartments in Harlem, the Congressman needed to keep his annual reported income below $175,000, lest he be ineligible as a hardship case for rent control. (He also used one of the apartments as an office in violation of rent-control rules, but that’s another story.)
Mr. Rangel said last fall that “I never had any idea that I got any income’’ from the villa. Try using that one the next time the IRS comes after you. Equally interesting is his claim that he didn’t know that the developer of the Dominican Republic villa had converted his $52,000 mortgage to an interest-free loan in 1990. That would seem to violate House rules on gifts, which say Members may only accept loans on “terms that are generally available to the public.” Try getting an interest-free loan from your banker."
The editorial notes another NLPC-exposed instance of Rangel cheating on his taxes:
The National Legal and Policy Center also says it has confirmed that Mr. Rangel owned a home in Washington from 1971-2000 and during that time claimed a “homestead” exemption that allowed him to save on his District of Columbia property taxes. However, the homestead exemption only applies to a principal residence, and the Washington home could not have qualified as such since Mr. Rangel’s rent-stabilized apartments in New York have the same requirement.
The House Ethics Committee is supposedly investigating Rangel’s tax evasion, as well as a Rangel-led, Citigroup-funded junket to the Caribbean, also exposed by NLPC. Add to the list the propriety of donations to the so-called Charles B. Rangel Center for Public Service at City College of New York.
Until recently, Rangel was predicting an imminent and total exoneration by the Ethics Committee. This prediction was echoed by Eugene Isenberg, the Chairman of Nabors Industries, when I confronted him at the Nabors’ annual meeting on June 2. Isenberg made a million dollar pledge to the Rangel Center at the same time Rangel was preserving a lucrative tax break for the company.
Rangel and Isenberg may be right. The Ethics Committee, under the thumb of House Speaker Nancy Pelosi, is perfectly capable of clearing tax-evader Rangel of wrongdoing, even as Congress levies big, new taxes on the American people.
SEC LAUNCHES REAL ESTATE FRAUD INVESTIGATION
July 28, 2009
The SEC announced today that it is investigating a mortgage investment scheme based in Phoenix involving commercial loans to area developers. These loans were made from a now bankrupt fund, Mortgages Ltd. The company was established to make short-term, high interest loans to commercial concerns. Another Phoenix-based company, Radical Bunny LLC is also being linked by the SEC to Mortgages Ltd.
The former CEO of Mortgages Ltd., Scott Coles, committed suicide last June shortly after the company filed for bankruptcy. Radical Bunny LLC is run by Tom Hirsch, a friend of Coles and the accountant for Mortgages Ltd. Radical Bunny LLC is also currently seeking bankruptcy protection. In addition to Mr. Hirsch, Radical Bunny officers, Berta Walder; Howard Walder and Harish P. Shah have also been named as defendants by the SEC.
Investors in the mortgage fund backing the Mortgages Ltd loans were apparently not informed of the risk involved and were victims of "material misrepresentations". The safety of investor's money, "material misrepresentations" and the unusually high risk involved with the scheme are the focus of the SEC's investigation.
We are encouraged that the SEC is finally bringing real estate fraud charges against those whose greed was instrumental in collapsing the entire real estate market and subsequently the Nation's economy.
It has been our contention that any company/individual that engaged in backing residential or commercial real estate mortgages, without informing buyers of the incredible risk involved with their plan to leverage, bundle, and sell the buyer's mortgage along with a bunch of basically worthless "liar loans" are guilty of fraud. These greedy plans needed to be disclosed to investors in the current case and residential mortgagees who have been robbed by shameless financial crooks.
Now, we just need the first residential mortgage fraud case to be initiated by someone to blow this scheme wide open and expose the extent and nature of the damage done by banks, politicians, brokers, hedge funds, insurance companies, rating and oversight agencies, etc. simply due to their unfettered greed. The same type of charges the SEC is bringing against Mortgages Ltd could easily be proved against any mortgage concern, such as Countrywide Mortgage, who engaged in the "derivatives" scheme employed during the 2003-08 time frame.
The SEC announced today that it is investigating a mortgage investment scheme based in Phoenix involving commercial loans to area developers. These loans were made from a now bankrupt fund, Mortgages Ltd. The company was established to make short-term, high interest loans to commercial concerns. Another Phoenix-based company, Radical Bunny LLC is also being linked by the SEC to Mortgages Ltd.
The former CEO of Mortgages Ltd., Scott Coles, committed suicide last June shortly after the company filed for bankruptcy. Radical Bunny LLC is run by Tom Hirsch, a friend of Coles and the accountant for Mortgages Ltd. Radical Bunny LLC is also currently seeking bankruptcy protection. In addition to Mr. Hirsch, Radical Bunny officers, Berta Walder; Howard Walder and Harish P. Shah have also been named as defendants by the SEC.
Investors in the mortgage fund backing the Mortgages Ltd loans were apparently not informed of the risk involved and were victims of "material misrepresentations". The safety of investor's money, "material misrepresentations" and the unusually high risk involved with the scheme are the focus of the SEC's investigation.
We are encouraged that the SEC is finally bringing real estate fraud charges against those whose greed was instrumental in collapsing the entire real estate market and subsequently the Nation's economy.
It has been our contention that any company/individual that engaged in backing residential or commercial real estate mortgages, without informing buyers of the incredible risk involved with their plan to leverage, bundle, and sell the buyer's mortgage along with a bunch of basically worthless "liar loans" are guilty of fraud. These greedy plans needed to be disclosed to investors in the current case and residential mortgagees who have been robbed by shameless financial crooks.
Now, we just need the first residential mortgage fraud case to be initiated by someone to blow this scheme wide open and expose the extent and nature of the damage done by banks, politicians, brokers, hedge funds, insurance companies, rating and oversight agencies, etc. simply due to their unfettered greed. The same type of charges the SEC is bringing against Mortgages Ltd could easily be proved against any mortgage concern, such as Countrywide Mortgage, who engaged in the "derivatives" scheme employed during the 2003-08 time frame.
Thursday, July 23, 2009
SIMPLE SOLUTION TO ECONOMIC & HOUSING CRISIS
July 23, 2009
Solving the current economic crisis has become just an opportunity for corporate and banking/financial institutions to grab as much taxpayer money as possible. Many of the financial/banking and insurance institutions receiving taxpayer money were actually responsible for initiating this crisis. So why are these concerns being helped when those who they destroyed (i.e., homeowners) are being destroyed?
There would have been a pretty simple solution, which could have been enacted 6 months ago, that would have resolved the current situation almost immediately. Why wasn't it considered? The answer is simple, it would have required holders of mortgages to reduce the principal owed and to then sell their "toxic" paper to the Federal government at the new adjusted prices. These greedy, criminal "financiers" could not conceive of being on the losing end of the proposition and heavily lobbied Congress, the Federal Reserve and the Treasury Department to ignore this option.
Solving the current economic crisis has become just an opportunity for corporate and banking/financial institutions to grab as much taxpayer money as possible. Many of the financial/banking and insurance institutions receiving taxpayer money were actually responsible for initiating this crisis. So why are these concerns being helped when those who they destroyed (i.e., homeowners) are being destroyed?
There would have been a pretty simple solution, which could have been enacted 6 months ago, that would have resolved the current situation almost immediately. Why wasn't it considered? The answer is simple, it would have required holders of mortgages to reduce the principal owed and to then sell their "toxic" paper to the Federal government at the new adjusted prices. These greedy, criminal "financiers" could not conceive of being on the losing end of the proposition and heavily lobbied Congress, the Federal Reserve and the Treasury Department to ignore this option.
Here's exactly how it would have worked and what the result would have meant to homeowners and the Country's economy.
- The Federal government nullifies all "no doc" mortgages, unless the "homeowner" can now produce the proper required documentation that proves they can afford the property. Otherwise, the Feds allow those properties, purchased by people who couldn't afford them to go into foreclosure and the proceeds are returned to the Federal Treasury to assist in funding the remainder of the plan;
- The Federal government then requires all holders of residential mortgages to allow a unbiased panel of real estate experts to reset the principal owed to realistically reflect the collapse in housing values;
- All mortgages are then sold to the Feds at the new adjusted prices;
- The Feds turn these mortgages, many initially ARM-types, into 30-year fixed obligations;
- The Feds pay all outstanding property taxes directly to the State on any homes that have delinquent property taxes and adds this amount to the mortgage's principal;
- Life continues and people can again see a chance to live without the constant fear of loosing their home to the same criminals that took advantage of the lack of governmental regulation and oversight to pocket huge profits at the expense of all American taxpayers.
Arguments against this plan will complain that some homeowners will receive more help than others and point to homeowners who have already paid off most of their note. This is true, but a tax credit or outright tax-free payment to anyone receiving less than what the average homeowner received would bring the playing field level and should have resolved this issue.
Positives of this plan are huge. Not only would it have totally resolved the foreclosure nightmare overnight, it would give homeowners hope. Homeowners would now have an opportunity to immediately begin growing equity in their home, instead of waiting 20 years and worrying the whole time that they'll never recover their initial investment. State governments would receive back property taxes that they desperately need to balance their budgets. Banks shouldn't need any additional funds from taxpayers to pad their already bulging wallets. People will feel more comfortable buying again, auto makers would see a turnaround in sales and other retail concerns would benefit from consumers having a brighter outlook for the future.
The cost? Less than a trillion dollars. How much have we already thrown away to make sure greedy bankers/brokers and insurance companies had funds available to pay themselves huge salaries and bonuses? The actual amount already wasted and the amount still to be thrown away is difficult to determine, but this plan would have easily cost less. In fact, it would probably have been less than what's already been given to the crooks that call themselves bankers, brokers, financiers, etc. If you think my figures are wrong, check them yourself. The median value of the American home according to the National Assoc. of Realtors is $202,000 with the average being $245,000. It's estimated that there are approximately 50,000,000 homes with outstanding mortgages. That would be about 1.2 trillion dollars if everyone owed the full amount of their original mortgage. Have we handed out and plan to hand out this amount yet? The answer is YES PLUS! But obviously not everyone owes the full amount of their original note, so the dollars needed to completely resolve this crisis would have been far less and if we hadn't also paid off the money boys to the tune of 2-3 times (and higher multiples in many cases) their initial investment, well I think you see my point.
Ok Washington, so what's your 5,000 page plan to waste more taxpayer money?
Wednesday, July 22, 2009
FIRST LADY MICHELLE OBAMA LINKED TO PATIENT-DUMPING SCAM
It's being alleged that an organization started and still supported by First Lady Michelle Obama, the Urban Health Initiative (UHI) at the University of Chicago Medical Center, was and is still involved in "patient dumping". When the First Lady was VP at the Medical Center, she initiated the UHI, which was supposed to provide better care to area patients coming into their Emergency Room (ER).
To get the program rolling, Ms Obama's group hired David Axelrod (currently President Obama's Senior Advisor, what a coincidence) to obtain the necessary funds. Mr. Axelrod was very successful with his lobbying efforts by obtaining an initial $23 million grant from the Federal government. Many millions of dollars have subsequently be granted to this institution by government and private organizations. The program's public objective appears to have been to triage in-coming patients to assure they received the most appropriate treatment. Sounds like a noble and reasonable goal, but, as usual, there's a lot more under the surface.
The real goal appears to have been to preserve beds at the prestigious University of Chicago Med. Center for patients with the best insurance payment potential. So, anyone showing up at their ER who did not meet their payment criteria were "referred" during triage to other hospitals, sometimes over an hour away.
Last year, a young boy and Medicare patient, was attacked by a pit bull. The boy's lip was nearly ripped off, but after being triaged at the Univ. of Chicago Medical Center ER, he was refused treatment and referred to a hospital nearly an hour away. A major scandal and investigation insued in LA last year when a strangely similar practice was revealed. Wonder if this one will get any mainstream play?
We sure hope the President's new health care reforms address situations like this one. Wait a minute, is this be exactly the kind of care the Administration intends to provide for us if they get their way? The Chicago model?
It's really amazing how the same players keeping popping up in politics and the world of finance. Long lines of "friends", family and cronies scramble to hang on to these crooks and they somehow always seem to be involved in these, on the surface, altruistic endeavors, which end up just being a money-making scam and/or way to gain more power for themselves.
Is this setting a good example for your daughters Ms Obama? Unfortunately, I fear that your type live in such a different place that you feel somehow above the world the rest of us have to live and survive . When did your invitation come to join the "Club"? Mine came in the Spring of 1974 in Houston, TX. Thankfully, and probably for the wrong reasons, I passed.
Fact of the matter is that I know about your bunch and what your cabal intend. The problem is we're all not as uninformed and stupid as you assume. And, for the very reason that you've chosen to limit access to the spoils, those that oppose your nefarious goals represent a large hurdle for you to overcome. At the very least, it isn't going to be as easy as you thought. Many of your group has already been laying low for over 40 years since their movement fell apart in the '60s. They've been planning for four decades for this day and now they're rubbing their hands together, getting ready for the "Fine 'Ol Solution" as my buddy Early would say.
Just remember what happens when you ass/u/me something? The big difference this time, is that "me" won't be part of the equation, but "u" will!
"Hey Mom, is this true"?
To get the program rolling, Ms Obama's group hired David Axelrod (currently President Obama's Senior Advisor, what a coincidence) to obtain the necessary funds. Mr. Axelrod was very successful with his lobbying efforts by obtaining an initial $23 million grant from the Federal government. Many millions of dollars have subsequently be granted to this institution by government and private organizations. The program's public objective appears to have been to triage in-coming patients to assure they received the most appropriate treatment. Sounds like a noble and reasonable goal, but, as usual, there's a lot more under the surface.
The real goal appears to have been to preserve beds at the prestigious University of Chicago Med. Center for patients with the best insurance payment potential. So, anyone showing up at their ER who did not meet their payment criteria were "referred" during triage to other hospitals, sometimes over an hour away.
Last year, a young boy and Medicare patient, was attacked by a pit bull. The boy's lip was nearly ripped off, but after being triaged at the Univ. of Chicago Medical Center ER, he was refused treatment and referred to a hospital nearly an hour away. A major scandal and investigation insued in LA last year when a strangely similar practice was revealed. Wonder if this one will get any mainstream play?
We sure hope the President's new health care reforms address situations like this one. Wait a minute, is this be exactly the kind of care the Administration intends to provide for us if they get their way? The Chicago model?
It's really amazing how the same players keeping popping up in politics and the world of finance. Long lines of "friends", family and cronies scramble to hang on to these crooks and they somehow always seem to be involved in these, on the surface, altruistic endeavors, which end up just being a money-making scam and/or way to gain more power for themselves.
Is this setting a good example for your daughters Ms Obama? Unfortunately, I fear that your type live in such a different place that you feel somehow above the world the rest of us have to live and survive . When did your invitation come to join the "Club"? Mine came in the Spring of 1974 in Houston, TX. Thankfully, and probably for the wrong reasons, I passed.
Fact of the matter is that I know about your bunch and what your cabal intend. The problem is we're all not as uninformed and stupid as you assume. And, for the very reason that you've chosen to limit access to the spoils, those that oppose your nefarious goals represent a large hurdle for you to overcome. At the very least, it isn't going to be as easy as you thought. Many of your group has already been laying low for over 40 years since their movement fell apart in the '60s. They've been planning for four decades for this day and now they're rubbing their hands together, getting ready for the "Fine 'Ol Solution" as my buddy Early would say.
Just remember what happens when you ass/u/me something? The big difference this time, is that "me" won't be part of the equation, but "u" will!
"Hey Mom, is this true"?
BIN LADEN'S SON KILLED IN MISSILE ATTACK?
July 22, 2009
Reports are scare and are just coming in, but it appears that a Hellfire missile attack "sometime earlier this year" may have killed one of Osama bin Laden's Sons in Pakistan. No other reliable information is available at this time other than an apparent "85% chance it was bin Laden's Son". Glad is wasn't 80% because that's just silly speculation!
Reports are scare and are just coming in, but it appears that a Hellfire missile attack "sometime earlier this year" may have killed one of Osama bin Laden's Sons in Pakistan. No other reliable information is available at this time other than an apparent "85% chance it was bin Laden's Son". Glad is wasn't 80% because that's just silly speculation!
LITTLE TO OLD, LITTLE TO SICK - TAKE A HIKE!
July 22, 2009
If a panel of "experts" have their way and the Administration's health care reforms become law, it's very likely you or someone you know will hear some bad news when illness or injury strikes. Americans need to know that the most important part of the proposed reforms involves who will get what. Under the Administration's and the Democrat's proposal, if their panel of "experts" determines that you are "too sick or too old" you will be denied treatment.
Keep pressing your representatives on this fact, or the next time you need a hip replacement in order to walk painlessly or medicine at age 80 that simply keeps you alive you or someone you love may be extremely disappointed.
If a panel of "experts" have their way and the Administration's health care reforms become law, it's very likely you or someone you know will hear some bad news when illness or injury strikes. Americans need to know that the most important part of the proposed reforms involves who will get what. Under the Administration's and the Democrat's proposal, if their panel of "experts" determines that you are "too sick or too old" you will be denied treatment.
Keep pressing your representatives on this fact, or the next time you need a hip replacement in order to walk painlessly or medicine at age 80 that simply keeps you alive you or someone you love may be extremely disappointed.
OBAMA ADMINISTRATION ACCEPTS BLAME FOR "GLOBAL WARMING"
July 22, 2009
In the last month, a string of announcements by members of the Obama administration to the governments of India and China have basically made it clear that the United States, in the face of pending "Cap in Trade" legislation, has accepted blame for creating "global warming". Funny, I don't remember voting on that or even hearing any debate among unbiased scientists concerning this very important issue.
Apparently we aren't simply happy accepting blame, but have indicated that America intends to pay for any carbon offset penalties imposed on China, India, etc. due to Cap in Trade legislation. Talk about "real money", this is going to be some real money! And, God knows, we can easily afford that little expense right now. What are these people thinking? One official stated that he believed the consumer of the products should shoulder the carbon offset expense, not the producer.
Man, talk about stacking the deck and not recognizing reality! That would mean that China, for example, could simply not impose any environmental standards concerning carbon emissions, which would lower China's cost of manufacturing even more. The environment worsens, especially in China and neighboring areas, and just because America (feel guilt here) has enjoyed a certain quality of life - WE have to pay the penalty?! America didn't steal a good quality-of-life from anyone, especially China. It was due to the hard work, ingenuity and the freedom to do what we've done for over 200 years that America has become the envy and target of the rest of the world.
When other countries have no incentive to do something that might be costly and they see no upside to complying, they simply stonewall or refuse.
Please tell your elected representatives that not only can we not afford this nonsense, but we refuse to let America become the fallguy for any crisis that arises!
In the last month, a string of announcements by members of the Obama administration to the governments of India and China have basically made it clear that the United States, in the face of pending "Cap in Trade" legislation, has accepted blame for creating "global warming". Funny, I don't remember voting on that or even hearing any debate among unbiased scientists concerning this very important issue.
Apparently we aren't simply happy accepting blame, but have indicated that America intends to pay for any carbon offset penalties imposed on China, India, etc. due to Cap in Trade legislation. Talk about "real money", this is going to be some real money! And, God knows, we can easily afford that little expense right now. What are these people thinking? One official stated that he believed the consumer of the products should shoulder the carbon offset expense, not the producer.
Man, talk about stacking the deck and not recognizing reality! That would mean that China, for example, could simply not impose any environmental standards concerning carbon emissions, which would lower China's cost of manufacturing even more. The environment worsens, especially in China and neighboring areas, and just because America (feel guilt here) has enjoyed a certain quality of life - WE have to pay the penalty?! America didn't steal a good quality-of-life from anyone, especially China. It was due to the hard work, ingenuity and the freedom to do what we've done for over 200 years that America has become the envy and target of the rest of the world.
When other countries have no incentive to do something that might be costly and they see no upside to complying, they simply stonewall or refuse.
Please tell your elected representatives that not only can we not afford this nonsense, but we refuse to let America become the fallguy for any crisis that arises!
PARKING IN LOS ANGELES GETTING EXPENSIVE - AND SCARCE
July 22, 2009
Reports are surfacing that parking in Los Angeles is becoming more expensive and even harder to find a legal spot on the street. Not a surprise, but as part of our charge, we intend to at least let people know what's going on when mainstream media ignores an issue and our money is involved.
The clear reason is the State's economic crisis is forcing cities to find revenue wherever they can. Anyone who knows anything about making changes knows that you go for the "low hanging fruit" first. Very easy to remove parking meters, raise the price on those that remain and also jack-up the fines for parking tickets and better yet, tow the car if possible and make the recovery fee huge.
That forces drivers into parking garages or they face a long process of circling and waiting or a ticket or being towed if you park where you shouldn't.
We certainly don't condone parking where you shouldn't just because you're inpatient. However, we feel that Angelinos and visitors should be aware of the situation and what to expect. Be aware that more attempts to grab your money by the State and cities in California are on the way.
Reports are surfacing that parking in Los Angeles is becoming more expensive and even harder to find a legal spot on the street. Not a surprise, but as part of our charge, we intend to at least let people know what's going on when mainstream media ignores an issue and our money is involved.
The clear reason is the State's economic crisis is forcing cities to find revenue wherever they can. Anyone who knows anything about making changes knows that you go for the "low hanging fruit" first. Very easy to remove parking meters, raise the price on those that remain and also jack-up the fines for parking tickets and better yet, tow the car if possible and make the recovery fee huge.
That forces drivers into parking garages or they face a long process of circling and waiting or a ticket or being towed if you park where you shouldn't.
We certainly don't condone parking where you shouldn't just because you're inpatient. However, we feel that Angelinos and visitors should be aware of the situation and what to expect. Be aware that more attempts to grab your money by the State and cities in California are on the way.
OBAMA'S HEALTH CARE PRESSER A DUD
July 22, 2009
I think most of us hope that someone in Washington is trying to do something, we really don't care who steps up at this point. We'll even wipe the slate clean, start anew today. Whatever political party, doesn't matter - ground zero today.
Now, we've heard some pretty disturbing things during Mr. Obama's press conference on health care reform. It's well known that he kind of loves to hear himself talk, but someone should tell him that by droning on and on, he digs lots of holes for himself. This love of self-rhetoric, largely results in ambiguous statements that can be interpreted in a number of ways. And to give the American's the impression that he reads their letters as a way of feeling the pulse of America, well just give me a break.
He seems to underestimate the actual ability of most Americans to think for themselves and to recognize bull shit. If he's reading letters we're in real trouble. Anyone who thinks they can write the President and expect him to actually read it has just rolled out from under a stone or they have a warped understanding of reality.
A couple of examples of this were his reference to exactly what kind of health care could Americans expect from his reforms. He replied that, "... if the proposed treatment won't make you healthier, we won't pay". Does this mean no payment for "prophylactic" treatment that many Americans receive to keep a condition from occurring? If you're a Senior citizen will treatment be withheld if it just keeps you alive?
Ask a hundred people about the intent and I'll wager 95 will say of course you'll be treated to keep a medical condition from reoccurring or possibly occurring due to family history and of course Seniors will receive treatment to keep you alive. Well, let's hope, but you have to see my point. To just listen, it was delivered with great obfuscation that just rattled around in most people's heads.
And what is wrong with the White House Press Corps? They asked him if he and Congress would abide by the reforms and the President totally ignored the question. OK, that's not uncommon, but there's always at least one attempt to follow-up - that didn't happen. With all that's going on in the Country, the Press Corp asks him about the Harvard professor's arrest? Granted, it was a crazy and unwarranted action by the New Haven police and says something about where we are in race relations, but it's not one of the top 50 things that we must quickly address and resolve.
However, I loved his honesty when he said, "Americans haven't seen a lot of laws coming out of Washington lately that will help them out". Fantastic that he actually acknowledges this fact, but why is that the situation? I also liked his statements concerning big banks/brokerages and their apparent inability to recognize that is was their criminal actions that got us into this mess. It's heartening to realize that their complicity is recognized by Mr. Obama. The President also gets a star for saying that the CEO's and top executives (including Board members) of banks, brokerages, insurance companies and the like must wake-up and stop paying themselves obscene amounts of money for failure and criminal activity.
End of new Day 1, we're where we were yesterday, just one day less to deal with the inevitable.
I think most of us hope that someone in Washington is trying to do something, we really don't care who steps up at this point. We'll even wipe the slate clean, start anew today. Whatever political party, doesn't matter - ground zero today.
Now, we've heard some pretty disturbing things during Mr. Obama's press conference on health care reform. It's well known that he kind of loves to hear himself talk, but someone should tell him that by droning on and on, he digs lots of holes for himself. This love of self-rhetoric, largely results in ambiguous statements that can be interpreted in a number of ways. And to give the American's the impression that he reads their letters as a way of feeling the pulse of America, well just give me a break.
He seems to underestimate the actual ability of most Americans to think for themselves and to recognize bull shit. If he's reading letters we're in real trouble. Anyone who thinks they can write the President and expect him to actually read it has just rolled out from under a stone or they have a warped understanding of reality.
A couple of examples of this were his reference to exactly what kind of health care could Americans expect from his reforms. He replied that, "... if the proposed treatment won't make you healthier, we won't pay". Does this mean no payment for "prophylactic" treatment that many Americans receive to keep a condition from occurring? If you're a Senior citizen will treatment be withheld if it just keeps you alive?
Ask a hundred people about the intent and I'll wager 95 will say of course you'll be treated to keep a medical condition from reoccurring or possibly occurring due to family history and of course Seniors will receive treatment to keep you alive. Well, let's hope, but you have to see my point. To just listen, it was delivered with great obfuscation that just rattled around in most people's heads.
And what is wrong with the White House Press Corps? They asked him if he and Congress would abide by the reforms and the President totally ignored the question. OK, that's not uncommon, but there's always at least one attempt to follow-up - that didn't happen. With all that's going on in the Country, the Press Corp asks him about the Harvard professor's arrest? Granted, it was a crazy and unwarranted action by the New Haven police and says something about where we are in race relations, but it's not one of the top 50 things that we must quickly address and resolve.
However, I loved his honesty when he said, "Americans haven't seen a lot of laws coming out of Washington lately that will help them out". Fantastic that he actually acknowledges this fact, but why is that the situation? I also liked his statements concerning big banks/brokerages and their apparent inability to recognize that is was their criminal actions that got us into this mess. It's heartening to realize that their complicity is recognized by Mr. Obama. The President also gets a star for saying that the CEO's and top executives (including Board members) of banks, brokerages, insurance companies and the like must wake-up and stop paying themselves obscene amounts of money for failure and criminal activity.
End of new Day 1, we're where we were yesterday, just one day less to deal with the inevitable.
Monday, July 20, 2009
WATCH FOR AN UPCOMING JACKSON FIVE TOUR
July 20, 2009
We're hearing that Joe Jackson is planning on a Jackson Five tour that would include the surviving four members of the group. A "weird" factor of the tour is that Joe is planning on Michael making an appearance via technology like that used in a "duet" recording that Natalie Cole made as a tribute to her Father over 15 years ago. A similar event was an Elvis spectacular from a few years ago that also used video from his old performances shown to the in-house audience via large-screen monitors, while his band performed the back-up vocals and music live on stage. Now, it wouldn't be out of the realm of possibility that, with new advances in holographic technology, MJ may appear actually "on stage" as a hologram rather than just a video projection. That could be a bit weird.
It is being speculated that a large extent of the Jackson program may consist of previously unreleased MJ songs, with his Brothers providing the back-up vocals and music on stage. An extra added attraction may be Joe trying to prove "that little Blanket can really dance", as he has stated recently. Let's hope they leave MJ's kids out of this venture if it actually gets off the ground.
We're hearing that Joe Jackson is planning on a Jackson Five tour that would include the surviving four members of the group. A "weird" factor of the tour is that Joe is planning on Michael making an appearance via technology like that used in a "duet" recording that Natalie Cole made as a tribute to her Father over 15 years ago. A similar event was an Elvis spectacular from a few years ago that also used video from his old performances shown to the in-house audience via large-screen monitors, while his band performed the back-up vocals and music live on stage. Now, it wouldn't be out of the realm of possibility that, with new advances in holographic technology, MJ may appear actually "on stage" as a hologram rather than just a video projection. That could be a bit weird.
It is being speculated that a large extent of the Jackson program may consist of previously unreleased MJ songs, with his Brothers providing the back-up vocals and music on stage. An extra added attraction may be Joe trying to prove "that little Blanket can really dance", as he has stated recently. Let's hope they leave MJ's kids out of this venture if it actually gets off the ground.
THE TAX MAN'S KNOCKING!
July 20, 2009
We warned in an earlier post, that the tax collectors will be coming after everyone and anyone who they think may owe additional taxes. The latest attempt comes from Pennsylvania where the "Commonwealth" (yeah, apparently they don't think they're a "State") is attempting to collect taxes on Internet purchases of cigarettes. An 83-year old woman from Pennsylvania just received a bill from the "Commonwealth" for nearly $4,500 in back cigarette taxes from purchases she had made on the Internet. Gladys, stick to your guns and question if the statute is written to only allow "States" to collect taxes on cigarette web purchases or if it actually uses the "Commonwealth" terminology? If not, tell them to take a hike! We have to fight fire with fire. They'll try to laugh off the terminology reference as not "relevant", but do you think it would be relevant if they were making the argument?
Only by fighting the upcoming tax collection onslaught do we have any hope in stopping this nonsense. Plus, the "Commonwealth's" Comptroller stated, in support of this collection attempt, that "Everyone should know that they owe sales tax on ANY Internet purchase, regardless of where you live or where the company is located." So, obviously they intend to go after anyone who has made any Internet purchase and who has not paid the applicable sales tax. If Pennsylvania is successful, other fiscally irresponsible States will certainly follow their example and even expand it to include any purchases made over the web.
Think about how many purchases you've made over the years on the Internet without paying sales tax because you lived in a different State (or Commonwealth) than the company selling the merchandise. Apparently, all tobacco purchases are required to be reported to the Federal Government regardless of where the selling company is located (i.e., out-of-State, out-of-Country). Therefore, at least for tobacco, there exists a record of all purchases making it very easy for these "bloodsuckers" to take even more of your hard-earned money.
There's a belief, even among attorneys, that it's impossible to fight Federal or State governments over issues like these. If that attitude is allowed to continue, what chance do we have?
We warned in an earlier post, that the tax collectors will be coming after everyone and anyone who they think may owe additional taxes. The latest attempt comes from Pennsylvania where the "Commonwealth" (yeah, apparently they don't think they're a "State") is attempting to collect taxes on Internet purchases of cigarettes. An 83-year old woman from Pennsylvania just received a bill from the "Commonwealth" for nearly $4,500 in back cigarette taxes from purchases she had made on the Internet. Gladys, stick to your guns and question if the statute is written to only allow "States" to collect taxes on cigarette web purchases or if it actually uses the "Commonwealth" terminology? If not, tell them to take a hike! We have to fight fire with fire. They'll try to laugh off the terminology reference as not "relevant", but do you think it would be relevant if they were making the argument?
Only by fighting the upcoming tax collection onslaught do we have any hope in stopping this nonsense. Plus, the "Commonwealth's" Comptroller stated, in support of this collection attempt, that "Everyone should know that they owe sales tax on ANY Internet purchase, regardless of where you live or where the company is located." So, obviously they intend to go after anyone who has made any Internet purchase and who has not paid the applicable sales tax. If Pennsylvania is successful, other fiscally irresponsible States will certainly follow their example and even expand it to include any purchases made over the web.
Think about how many purchases you've made over the years on the Internet without paying sales tax because you lived in a different State (or Commonwealth) than the company selling the merchandise. Apparently, all tobacco purchases are required to be reported to the Federal Government regardless of where the selling company is located (i.e., out-of-State, out-of-Country). Therefore, at least for tobacco, there exists a record of all purchases making it very easy for these "bloodsuckers" to take even more of your hard-earned money.
There's a belief, even among attorneys, that it's impossible to fight Federal or State governments over issues like these. If that attitude is allowed to continue, what chance do we have?
OBAMA'S CABINET IGNORES PRESIDENTIAL DIRECTIVE
July 20, 2009
Ninety days ago, President Obama directed his Cabinet Secretaries to cut a "mere" $100,000,000 from each of their combined multi-trillion dollar budgets, and to submit their cuts to him in, wait for it, 90 days! Although seen by many as small, insignificant budgetary reductions, I applauded his effort to cut waste and, like Mr. Obama said, "overall, it adds up to some real money".
Well, his deadline is here and not only has this directive been basically ignored, but there hasn't even been any indication that they're working on it! They probably could have complied with the directive by simply purchasing cheaper paper clips!
We were told that by electing Mr. Obama there would be significant "changes" in Washington. Many voters were all too ready for change and the country needs it, apparently now more than ever. Voters were told that the old games would not be tolerated, that there would be transparency, lobbyists wouldn't be considered for White House appointments, proposed legislation would be posted on the Internet to allow for an appropriate review and debate, and the list of proposed "changes" goes on and on.
Have there been ANY significant "changes" since Mr. Obama has taken office? The answer is NO! Not only have there been no changes for the betterment of the country, the current majority has flaunted their situation by such actions as complying with a requirement for proposed legislation to be read on the Senate and House floors prior to voting by actually employing a "speed reader" to fulfill this obligation. Former lobbyists are in more White House positions than ever before. Proposed legislation from Mr. Obama's party is routinely submitted with no time for review, let alone debate. We also don't remember Mr. Obama mentioning that he intended to bypass the "advise and consent" function of Congress by appointing his personal "Czars" to perform the duties of the Cabinet. These are not problems passed on to Mr. Obama by Mr. Bush, which has been the current administration's favorite excuse to date.
Voters wanted a change from the games played in Washington. Looks like we got a change, a different political party, but the same old games remain basically unchanged. The players may be different, and that may be enough for some. But, to taxpayers who actually care about results rather than personality, it's beginning to look like the current Administration may be in way, way over their heads.
And, isn't it amazing that the very issue that started the economic collapse (housing) is being totally ignored. They've thrown out a few "programs" to assist distressed homeowners. However, to a large extent, the only ones that these programs help are homeowners who didn't deserve to obtain a mortgage 3-5 years ago.
Homeowners who properly qualified for their mortgages (down payment, proof of employment, proof of income, credit worthiness, CITIZEN, etc.) and who have been paying their obligation every month for years are ignored. These homeowners, many close to retirement, have seen a huge part of their net worth evaporate. Many have no equity left in their home and most now owe more than their house is worth.
How does the Administration think these homeowners have a chance to recoup their losses? They know it can't happen and it's probably the main reason for keeping it quiet. If more taxpaying home owners realized that their home's value is now in a negative equity situation and, most importantly, that there is virtually no chance of recovering that money, at least not during their lifetime, they'd want somebody's head on a stick!
Everyone else is being "made whole", but the average homeowner is expected to simply rollover for the betterment of big banks and the "disenfranchised". For the most part, the "disenfranchised" are those too lazy to work, to incompetent/stupid to hold a job, too weird to be hired, illegal aliens, and those who have embraced the generational "welfare state" we've created. This is a great group to subsidize in an effort to make them feel better about themselves - this has been our Country's biggest concern over the last 10 years and this mindset is about to destroy our economy. We're all for helping those who deserve it, but to simply give away the farm to make an illegal alien with a rap sheet feel better about themselves is total stupidity.
So, if you're close to or over 60 years old and you're underwater in your mortgage, walk away en masse. You'll never recover the investment in your home, forget about your credit rating and start socking away the money you'd be paying to the bank to stay in the red. Federal and State taxes should be withheld until these clowns can be trusted to spend OUR money wisely. Apparently, nothing else will get their attention.
Meanwhile, most Americans are content to either hide their heads in the sand. Sad.
Ninety days ago, President Obama directed his Cabinet Secretaries to cut a "mere" $100,000,000 from each of their combined multi-trillion dollar budgets, and to submit their cuts to him in, wait for it, 90 days! Although seen by many as small, insignificant budgetary reductions, I applauded his effort to cut waste and, like Mr. Obama said, "overall, it adds up to some real money".
Well, his deadline is here and not only has this directive been basically ignored, but there hasn't even been any indication that they're working on it! They probably could have complied with the directive by simply purchasing cheaper paper clips!
We were told that by electing Mr. Obama there would be significant "changes" in Washington. Many voters were all too ready for change and the country needs it, apparently now more than ever. Voters were told that the old games would not be tolerated, that there would be transparency, lobbyists wouldn't be considered for White House appointments, proposed legislation would be posted on the Internet to allow for an appropriate review and debate, and the list of proposed "changes" goes on and on.
Have there been ANY significant "changes" since Mr. Obama has taken office? The answer is NO! Not only have there been no changes for the betterment of the country, the current majority has flaunted their situation by such actions as complying with a requirement for proposed legislation to be read on the Senate and House floors prior to voting by actually employing a "speed reader" to fulfill this obligation. Former lobbyists are in more White House positions than ever before. Proposed legislation from Mr. Obama's party is routinely submitted with no time for review, let alone debate. We also don't remember Mr. Obama mentioning that he intended to bypass the "advise and consent" function of Congress by appointing his personal "Czars" to perform the duties of the Cabinet. These are not problems passed on to Mr. Obama by Mr. Bush, which has been the current administration's favorite excuse to date.
Voters wanted a change from the games played in Washington. Looks like we got a change, a different political party, but the same old games remain basically unchanged. The players may be different, and that may be enough for some. But, to taxpayers who actually care about results rather than personality, it's beginning to look like the current Administration may be in way, way over their heads.
And, isn't it amazing that the very issue that started the economic collapse (housing) is being totally ignored. They've thrown out a few "programs" to assist distressed homeowners. However, to a large extent, the only ones that these programs help are homeowners who didn't deserve to obtain a mortgage 3-5 years ago.
Homeowners who properly qualified for their mortgages (down payment, proof of employment, proof of income, credit worthiness, CITIZEN, etc.) and who have been paying their obligation every month for years are ignored. These homeowners, many close to retirement, have seen a huge part of their net worth evaporate. Many have no equity left in their home and most now owe more than their house is worth.
How does the Administration think these homeowners have a chance to recoup their losses? They know it can't happen and it's probably the main reason for keeping it quiet. If more taxpaying home owners realized that their home's value is now in a negative equity situation and, most importantly, that there is virtually no chance of recovering that money, at least not during their lifetime, they'd want somebody's head on a stick!
Everyone else is being "made whole", but the average homeowner is expected to simply rollover for the betterment of big banks and the "disenfranchised". For the most part, the "disenfranchised" are those too lazy to work, to incompetent/stupid to hold a job, too weird to be hired, illegal aliens, and those who have embraced the generational "welfare state" we've created. This is a great group to subsidize in an effort to make them feel better about themselves - this has been our Country's biggest concern over the last 10 years and this mindset is about to destroy our economy. We're all for helping those who deserve it, but to simply give away the farm to make an illegal alien with a rap sheet feel better about themselves is total stupidity.
So, if you're close to or over 60 years old and you're underwater in your mortgage, walk away en masse. You'll never recover the investment in your home, forget about your credit rating and start socking away the money you'd be paying to the bank to stay in the red. Federal and State taxes should be withheld until these clowns can be trusted to spend OUR money wisely. Apparently, nothing else will get their attention.
Meanwhile, most Americans are content to either hide their heads in the sand. Sad.
$100 MILLION PER DAY INTEREST ON STIMULUS MONEY
July 20, 2009
As President Obama's job approval ratings slip, and big troubles surrounding his "universal health care plan" seem to be growing, it was announced today that it is costing the U.S. Federal government $100 million per day in interest on the "stimulus" money. That's the money that was supposed to keep unemployment below 8%, create thousands of new related jobs and turn around our collapsing economy. The "stimulus plan" isn't working. TARP funds, initially approved by Congress to purchase the toxic mortgages, were instead used to help their banking buddies continue to pay huge salaries and bonuses to themselves!
At a $100 million/day in interest on money that hasn't even been released yet, you have to wonder how many homes could have been saved from foreclosure from the interest alone.
The American public had better wake-up and soon! How crazy is it to continue ignoring the housing crisis (yes, it's a crisis), especially when American's were fraudulently taken advantage of by banks and mortgage companies. This was CRIMINAL and the American people want those guilty punished and for the government to resolve this crisis in the home owner's favor NOW!
There should be no consideration for potential losses by banks, etc. holding these toxic mortgages - engage in criminal activity and pay the price. The banks are reporting huge profits from the last quarter, after just receiving billions from taxpayers to "rescue" their personal piggy banks.
It was the Federal government that allowed these banking criminals to instigate their scam and their reason was to give low income families to live the American dream and to purchase a house. It didn't matter if the low income applicants could afford the home, didn't matter if they could prove ANY income, on and on. Helping out the "disadvantaged" by instituting these programs destroyed our home values. Now, they're asking us to help them again by insuring everyone. Will anyone help the majority of homeowners that had been paying their mortgages for years and now find themselves underwater because of these follies?
It's time the Federal government stop this nonsense and the continued gifts of billions in tax dollars to their buddies! Help the homeowner or the consequences will be very ugly. Those involved in this scam should be very, very worried.
The extent of the scam is enormous, but we're doing our best to identify at least the biggest players. We will be reporting their names and any personal information we can uncover as soon as possible. If the Federal government won't take action, well....!
As President Obama's job approval ratings slip, and big troubles surrounding his "universal health care plan" seem to be growing, it was announced today that it is costing the U.S. Federal government $100 million per day in interest on the "stimulus" money. That's the money that was supposed to keep unemployment below 8%, create thousands of new related jobs and turn around our collapsing economy. The "stimulus plan" isn't working. TARP funds, initially approved by Congress to purchase the toxic mortgages, were instead used to help their banking buddies continue to pay huge salaries and bonuses to themselves!
At a $100 million/day in interest on money that hasn't even been released yet, you have to wonder how many homes could have been saved from foreclosure from the interest alone.
The American public had better wake-up and soon! How crazy is it to continue ignoring the housing crisis (yes, it's a crisis), especially when American's were fraudulently taken advantage of by banks and mortgage companies. This was CRIMINAL and the American people want those guilty punished and for the government to resolve this crisis in the home owner's favor NOW!
There should be no consideration for potential losses by banks, etc. holding these toxic mortgages - engage in criminal activity and pay the price. The banks are reporting huge profits from the last quarter, after just receiving billions from taxpayers to "rescue" their personal piggy banks.
It was the Federal government that allowed these banking criminals to instigate their scam and their reason was to give low income families to live the American dream and to purchase a house. It didn't matter if the low income applicants could afford the home, didn't matter if they could prove ANY income, on and on. Helping out the "disadvantaged" by instituting these programs destroyed our home values. Now, they're asking us to help them again by insuring everyone. Will anyone help the majority of homeowners that had been paying their mortgages for years and now find themselves underwater because of these follies?
It's time the Federal government stop this nonsense and the continued gifts of billions in tax dollars to their buddies! Help the homeowner or the consequences will be very ugly. Those involved in this scam should be very, very worried.
The extent of the scam is enormous, but we're doing our best to identify at least the biggest players. We will be reporting their names and any personal information we can uncover as soon as possible. If the Federal government won't take action, well....!
Saturday, July 18, 2009
OBAMA'S "CAR CZAR" STEPS DOWN - ALREADY!
July 19, 2009
Wow, this story is really getting buried! After only about 5 months as the President's "Car Czar", Steven Rattner is ending his appointment under the cloud of an SEC investigation. Mr. Rattner is giving GM's and Chrysler's quick emergence from bankruptcy as his reason for leaving to spend more time with his family.
However, it is being reported that Rattner, former CEO of the Quadrangle Group, participated in an "influence-for-pay" scheme while running the company. The Quadrangle Group, a private equity concern, was founded in 2000 by Rattner, who left the company in February 2009 to accept the "Czar" appointment. Recently, the New York Attorney General, Andrew Cuomo, has alleged that Rattner's firm and others paid huge sums to placement agents or "middlemen". These agents would then use their "influence" to obtain investment monies from the NY State Pension Fund and other local government pension plans for the groups paying for their "service". Payments of many millions of dollars are being alleged.
The Washington Post reports that, in SEC filings, a "senior executive" at Quadrangle, whom sources have identified as Rattner, is described as having been directly involved in arranging a $1 million-plus payment to a middleman. Rattner headed Quadrangle until February, when he was tapped to join the Obama administration's auto task force.
Americans have to ask themselves how smart it is to appoint all of these "quasi" cabinet heads to basically run their respective areas, without passing the normal consent process required of Congress. Obviously, something greater than sharing household chores is affecting Mr. Rattner's decision. It's probably a good guess that the SEC investigation was potentially so damaging that a full-blown scandal couldn't be tolerated by the Administration. Therefore, expedite the bankruptcy process and use it as a reason for leaving the post, keep it quiet and hope it blows over quickly - and pray nothing else surfaces to potentially incriminate other Czars.
Now, knowing the games that go on in Washington, do we really think that all of the other 20 or so unconfirmed Czar appointees are clean and honest?
Hope the new guy likes Rattner's choice in office furniture. Otherwise, we'll have additional expenses to redecorate and it'll be interesting to see what kind of government pension Mr. Rattner will receive.
Wow, this story is really getting buried! After only about 5 months as the President's "Car Czar", Steven Rattner is ending his appointment under the cloud of an SEC investigation. Mr. Rattner is giving GM's and Chrysler's quick emergence from bankruptcy as his reason for leaving to spend more time with his family.
However, it is being reported that Rattner, former CEO of the Quadrangle Group, participated in an "influence-for-pay" scheme while running the company. The Quadrangle Group, a private equity concern, was founded in 2000 by Rattner, who left the company in February 2009 to accept the "Czar" appointment. Recently, the New York Attorney General, Andrew Cuomo, has alleged that Rattner's firm and others paid huge sums to placement agents or "middlemen". These agents would then use their "influence" to obtain investment monies from the NY State Pension Fund and other local government pension plans for the groups paying for their "service". Payments of many millions of dollars are being alleged.
The Washington Post reports that, in SEC filings, a "senior executive" at Quadrangle, whom sources have identified as Rattner, is described as having been directly involved in arranging a $1 million-plus payment to a middleman. Rattner headed Quadrangle until February, when he was tapped to join the Obama administration's auto task force.
Americans have to ask themselves how smart it is to appoint all of these "quasi" cabinet heads to basically run their respective areas, without passing the normal consent process required of Congress. Obviously, something greater than sharing household chores is affecting Mr. Rattner's decision. It's probably a good guess that the SEC investigation was potentially so damaging that a full-blown scandal couldn't be tolerated by the Administration. Therefore, expedite the bankruptcy process and use it as a reason for leaving the post, keep it quiet and hope it blows over quickly - and pray nothing else surfaces to potentially incriminate other Czars.
Now, knowing the games that go on in Washington, do we really think that all of the other 20 or so unconfirmed Czar appointees are clean and honest?
Hope the new guy likes Rattner's choice in office furniture. Otherwise, we'll have additional expenses to redecorate and it'll be interesting to see what kind of government pension Mr. Rattner will receive.
Friday, July 17, 2009
MSNBC HOST ED SCHULTZ HAS GONE OVER THE EDGE!
July 17, 2009
We routinely monitor all news channel broadcasts and, by far, Ed Schultz of MSNBC's "Ed Show" is the most partisan of all similar broadcasts. Keith Oberman, again from MSNBC, and host of "Countdown" runs a close second, but he will at least occasionally question a Democratic position. But Schultz is in a totally different category. He's apparently NEVER disagreed with the Democrats, and especially identifies with the most left-leaning of the party.
There's nothing wrong with having a political preference, and if you've got a pulpit you can preach whatever you like (careful of "hate" speech Ed, you can now go to jail if you slip up, thanks to the Democrat's late-night amendment to a Defense bill). But, it's got to be the height of arrogance to believe that ALL Democratic legislation and policy positions are always superior to those proposed by others.
We've always been taught that to blindly follow anything/anyone is to basically admit that you have no ability to critically and/or analytically think for yourself. Both major political parties have a basis for their positions and to dismiss your opponents' views out-of-hand makes it obvious, to all but a small portion of your audience with similar limitations, that you must have a very difficult time trying to think for yourself.
To advocate potentially bankrupting the Country in order to implement all Democratic initiatives is irresponsible to your audience. Hopefully, someone (obviously a Democrat) will someday inform you that your abysmal ratings are due to your inability to connect with most viewers. One day, you might even come to that conclusion on your own as you ponder what you did wrong to end up in the unemployment line.
Unfortunately, this is the attitude of a small, but vocal presence in Congress who would rather destroy our system, rather than working together to solve our common problems and make the Country a better place for us all.
Ed, wake up! We're all on the same team, maybe different views and approaches, but we should all strive for a common goal. Ninety-nine percent of Americans could disagree with one of Mr. Schultz's positions and he'd still be convinced that he knew better. There's no place anymore for the "My way or the highway" attitude exhibited by Schultz. His constant rants of "Don't they remember who won the election?" seems to be his weak attempt to justify his arrogance and radical views.
Sadly, it reminds us of the kid who got beat-up or simply picked on regularly in school and now, as an adult, they seek revenge on those who "wronged" them. They try to achieve this by attempting to misuse a perceived position of power against anyone who has to deal with them, especially if they happen to remind him of those who treated him so badly in the past. Been to the DMV or spoken to a bill collector lately? "Were you regularly beat-up as a child and do you seek revenge?", and "Did you barely graduate from high school or drop-out early due to being harassed by your peers and/or being just plain dumb?". Answering "YES" to these insightful questions must be the main qualification for these positions and yours. Ed?
We routinely monitor all news channel broadcasts and, by far, Ed Schultz of MSNBC's "Ed Show" is the most partisan of all similar broadcasts. Keith Oberman, again from MSNBC, and host of "Countdown" runs a close second, but he will at least occasionally question a Democratic position. But Schultz is in a totally different category. He's apparently NEVER disagreed with the Democrats, and especially identifies with the most left-leaning of the party.
There's nothing wrong with having a political preference, and if you've got a pulpit you can preach whatever you like (careful of "hate" speech Ed, you can now go to jail if you slip up, thanks to the Democrat's late-night amendment to a Defense bill). But, it's got to be the height of arrogance to believe that ALL Democratic legislation and policy positions are always superior to those proposed by others.
We've always been taught that to blindly follow anything/anyone is to basically admit that you have no ability to critically and/or analytically think for yourself. Both major political parties have a basis for their positions and to dismiss your opponents' views out-of-hand makes it obvious, to all but a small portion of your audience with similar limitations, that you must have a very difficult time trying to think for yourself.
To advocate potentially bankrupting the Country in order to implement all Democratic initiatives is irresponsible to your audience. Hopefully, someone (obviously a Democrat) will someday inform you that your abysmal ratings are due to your inability to connect with most viewers. One day, you might even come to that conclusion on your own as you ponder what you did wrong to end up in the unemployment line.
Unfortunately, this is the attitude of a small, but vocal presence in Congress who would rather destroy our system, rather than working together to solve our common problems and make the Country a better place for us all.
Ed, wake up! We're all on the same team, maybe different views and approaches, but we should all strive for a common goal. Ninety-nine percent of Americans could disagree with one of Mr. Schultz's positions and he'd still be convinced that he knew better. There's no place anymore for the "My way or the highway" attitude exhibited by Schultz. His constant rants of "Don't they remember who won the election?" seems to be his weak attempt to justify his arrogance and radical views.
Sadly, it reminds us of the kid who got beat-up or simply picked on regularly in school and now, as an adult, they seek revenge on those who "wronged" them. They try to achieve this by attempting to misuse a perceived position of power against anyone who has to deal with them, especially if they happen to remind him of those who treated him so badly in the past. Been to the DMV or spoken to a bill collector lately? "Were you regularly beat-up as a child and do you seek revenge?", and "Did you barely graduate from high school or drop-out early due to being harassed by your peers and/or being just plain dumb?". Answering "YES" to these insightful questions must be the main qualification for these positions and yours. Ed?
ALASKAN "BLOB" SIGHTED OFF SHORE BY FISHERMEN
July 17, 2009
Alaskan fishermen have just discovered a floating "blob" of unknown origin off the State's shoreline. Although samples have been collected, identification is not yet available. Officials have tentatively said they don't believe it is oil residue. The "blob" has also been characterized as having a "natural smell" and it's apparently a living organism. Pretty strange!
Video link:
http://www.youtube.com/watch?v=WvBWEaYjgIU
Interestingly, the movie "Creepshow 2" shows a very similar substance. Check it out at:
http://www.youtube.com/watch?v=CLdQJVc1GCA&feature=related
Alaskan fishermen have just discovered a floating "blob" of unknown origin off the State's shoreline. Although samples have been collected, identification is not yet available. Officials have tentatively said they don't believe it is oil residue. The "blob" has also been characterized as having a "natural smell" and it's apparently a living organism. Pretty strange!
Video link:
http://www.youtube.com/watch?v=WvBWEaYjgIU
Interestingly, the movie "Creepshow 2" shows a very similar substance. Check it out at:
http://www.youtube.com/watch?v=CLdQJVc1GCA&feature=related
Thursday, July 16, 2009
CLASS ACTION SUIT AGAINST BANKS & MORTGAGE COMPANIES PLANNED
July 16, 2009
In an attempt to force banks and mortgage companies to deal with distressed homeowners, we've learned that a class action suit against these organizations is being considered by a number of community action organizations. These suits would be the result of investigations that indicate low-mid income home buyers, especially loans made to minorities, were deceptive at best. Felony fraud charges are being considered against the top brass of many of these companies.
The coalitions we've spoken to prefer to remain quiet on many of the details concerning the suit, but some groups have said that they plan to consolidate their efforts. Initial targets will include virtually all major banks (e.g., BofA, Citibank, Wells Fargo, Chase, etc.) and mortgage companies (e.g., Countrywide). Also included will be a demand for mortgage servicing companies to immediately identify the "investors" they're representing for purposes of payment collection.
The identification of "investors" being represented by mortgage service companies has been at issue nearly since the real estate meltdown began. Even though required to provide this information by law when requested by the mortgagee, these "black holes" have refused to comply.
The failure to disclose the identification of "investors" makes us think there may be more to their refusals than simply arrogance and incompetence. Is it possible that by revealing these "investors" it will show that the whole CDO venture was a scam?
Since Congress is apparently not interested in saving the homes of taxpaying voters, it's great to see people taking things into their own hands! If Congress wants to this class-action suit to go away, maybe we'll see some action from them. But I would warn against thinking Congress would have home owner's best interests at heart, so watch what might be proposed. If it smells, throw it back!
In an attempt to force banks and mortgage companies to deal with distressed homeowners, we've learned that a class action suit against these organizations is being considered by a number of community action organizations. These suits would be the result of investigations that indicate low-mid income home buyers, especially loans made to minorities, were deceptive at best. Felony fraud charges are being considered against the top brass of many of these companies.
The coalitions we've spoken to prefer to remain quiet on many of the details concerning the suit, but some groups have said that they plan to consolidate their efforts. Initial targets will include virtually all major banks (e.g., BofA, Citibank, Wells Fargo, Chase, etc.) and mortgage companies (e.g., Countrywide). Also included will be a demand for mortgage servicing companies to immediately identify the "investors" they're representing for purposes of payment collection.
The identification of "investors" being represented by mortgage service companies has been at issue nearly since the real estate meltdown began. Even though required to provide this information by law when requested by the mortgagee, these "black holes" have refused to comply.
The failure to disclose the identification of "investors" makes us think there may be more to their refusals than simply arrogance and incompetence. Is it possible that by revealing these "investors" it will show that the whole CDO venture was a scam?
Since Congress is apparently not interested in saving the homes of taxpaying voters, it's great to see people taking things into their own hands! If Congress wants to this class-action suit to go away, maybe we'll see some action from them. But I would warn against thinking Congress would have home owner's best interests at heart, so watch what might be proposed. If it smells, throw it back!
NASA GROUNDS ALL FUTURE SHUTTLE FLIGHTS
July 16, 2009
NASA has just announced that all future space shuttle flights are grounded until further notice. Apparently, an investigation will be conducted concerning the cause of and potential damage to the shuttle caused by debris falling from the shuttle or fuel tanks during take-off on Wednesday.
NASA has just announced that all future space shuttle flights are grounded until further notice. Apparently, an investigation will be conducted concerning the cause of and potential damage to the shuttle caused by debris falling from the shuttle or fuel tanks during take-off on Wednesday.
PELOSI SAYS "UNIVERSAL" HEALTH CARE CAN BE FUNDED WITHOUT TAX INCREASES
July 16, 2009
Nancy Pelosi, Speaker of the House, said today that she believes that the "universal" health care initiative could be funded without large tax increases. She indicated that this can be accomplished by "wringing more out of the system".
What does this political rhetoric really mean? Get ready if you owe anything to the Federal government. They're going to be coming after you like a collection agency of pit bulls on steroids. That will be step one, next expect new "fees" or value-added taxes (VAT) to be assessed against anything Americans currently enjoy, especially if the government thinks a particular activity/consumable is bad for you, a luxury item or morally questionable (e.g., gambling, porn, etc.).
Instead of putting resources into resolving the housing meltdown, investigating the mortgage companies and banks, and closely monitoring these organizations, all hands will be focused on the collection of federal debt and instituting the new "revenue enhancements".
Nancy Pelosi, Speaker of the House, said today that she believes that the "universal" health care initiative could be funded without large tax increases. She indicated that this can be accomplished by "wringing more out of the system".
What does this political rhetoric really mean? Get ready if you owe anything to the Federal government. They're going to be coming after you like a collection agency of pit bulls on steroids. That will be step one, next expect new "fees" or value-added taxes (VAT) to be assessed against anything Americans currently enjoy, especially if the government thinks a particular activity/consumable is bad for you, a luxury item or morally questionable (e.g., gambling, porn, etc.).
Instead of putting resources into resolving the housing meltdown, investigating the mortgage companies and banks, and closely monitoring these organizations, all hands will be focused on the collection of federal debt and instituting the new "revenue enhancements".
ONLY WASHINGTON CAN SAVE THE HOUSING MARKET
July 16, 2009
It's become all to evident that the banks and mortgage companies have positioned and insulated themselves against any financial losses that they might have experienced as a result of the collapse in housing prices. Worst of all, the collapse was totally due to these companies own actions, with implicit (and sometimes public) approval from Congress and no oversight from the SEC.
Mr. Frank, Mr. Baucus, Mr. Grassley, Mr. Dodd please investigate the refusal of most banks and mortgage companies to deal with homeowners in good faith. Large numbers of "loan modification services" have recently been found to be scams, again taking advantage of distressed homeowners. Homes that fall into the "jumbo loan" category aren't selling because it's nearly impossible to obtain financing, even with a huge down payment. "Short sales" are routinely being dismissed by these companies because they are sure they can make out better by forcing homeowners into foreclosure.
Even though these companies engaged in deception and were allowed to operate with no regulatory oversight, attorneys will not take on these groups to force them to face the music. Instead, they continue to operate in a manner that is beyond greed and now approaches a level never before seen.
Over 336,000 properties were foreclosed on just last month! When will someone in the Federal government stop this bleeding?
It's become all to evident that the banks and mortgage companies have positioned and insulated themselves against any financial losses that they might have experienced as a result of the collapse in housing prices. Worst of all, the collapse was totally due to these companies own actions, with implicit (and sometimes public) approval from Congress and no oversight from the SEC.
Mr. Frank, Mr. Baucus, Mr. Grassley, Mr. Dodd please investigate the refusal of most banks and mortgage companies to deal with homeowners in good faith. Large numbers of "loan modification services" have recently been found to be scams, again taking advantage of distressed homeowners. Homes that fall into the "jumbo loan" category aren't selling because it's nearly impossible to obtain financing, even with a huge down payment. "Short sales" are routinely being dismissed by these companies because they are sure they can make out better by forcing homeowners into foreclosure.
Even though these companies engaged in deception and were allowed to operate with no regulatory oversight, attorneys will not take on these groups to force them to face the music. Instead, they continue to operate in a manner that is beyond greed and now approaches a level never before seen.
Over 336,000 properties were foreclosed on just last month! When will someone in the Federal government stop this bleeding?
Wednesday, July 15, 2009
BANK OF AMERICA RIPPING OFF CUSTOMERS
July 15, 2009
We've received several disturbing reports concerning the Bank of America (BofA). Recently, this recipient of $25 billion in TARP funds, "rescue" money from tax paying Americans, has apparently begun an illegal and fraudulent program to re-open business and commercial accounts that were closed by the customer. BofA then attempts to charge the fraudulently-opened account for services (e.g., payroll, etc.) that the bank had provided when the account was open.
Of course the accounts have no funds since they had been appropriately closed by the customer, so BofA sends the fraudulently opened accounts to a collection agency. Once this has happened, all parties involved (i.e., BofA, collection agencies, etc.) begin the merry-go-round of denying responsibility and accountability. The former customer is never notified of this transaction by BofA, that is until they begin receiving harassing phone calls from bill collectors and demands for payment in the mail.
Now, taxpayers have had to bail-out these crooks in order to save their tails and in return they are trying to rob customers who tried to properly close their accounts handled by this behemoth. We are calling on the Senate Banking Committee, the FDIC, the Federal Reserve and State Attorneys General to investigate BofA in regards to their illegal activity.
These types of activities by banks must be stopped! They have failed their stockholders and Americans in general, requiring rescue TARP funds in order to stay in business. They cannot be allowed to perpetrate outright fraud on former customers.
Please Mr. Frank, initiate an investigation immediately!
We've received several disturbing reports concerning the Bank of America (BofA). Recently, this recipient of $25 billion in TARP funds, "rescue" money from tax paying Americans, has apparently begun an illegal and fraudulent program to re-open business and commercial accounts that were closed by the customer. BofA then attempts to charge the fraudulently-opened account for services (e.g., payroll, etc.) that the bank had provided when the account was open.
Of course the accounts have no funds since they had been appropriately closed by the customer, so BofA sends the fraudulently opened accounts to a collection agency. Once this has happened, all parties involved (i.e., BofA, collection agencies, etc.) begin the merry-go-round of denying responsibility and accountability. The former customer is never notified of this transaction by BofA, that is until they begin receiving harassing phone calls from bill collectors and demands for payment in the mail.
Now, taxpayers have had to bail-out these crooks in order to save their tails and in return they are trying to rob customers who tried to properly close their accounts handled by this behemoth. We are calling on the Senate Banking Committee, the FDIC, the Federal Reserve and State Attorneys General to investigate BofA in regards to their illegal activity.
These types of activities by banks must be stopped! They have failed their stockholders and Americans in general, requiring rescue TARP funds in order to stay in business. They cannot be allowed to perpetrate outright fraud on former customers.
Please Mr. Frank, initiate an investigation immediately!
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