04/19/2012 archive

Apr 19 2012

Mortgage Fraud: Task Force Still An Empty Promise

85 days and counting since President Obama announced in his State of the Union speech the formation of the Residential Mortgage-Backed Securities Working Group (RMBS) co-chaired by NY State Attorney General Eric Schneiderman and it is still a toothless entity that has so office space, phones and has yet to be staffed. The New york Daily News noticed, suggesting that Schneiderman should quit this fraud:

[.. ]calls to the Justice Department’s switchboard requesting to be connected with the working group produced the answer, “I really don’t know where to send you.” After being transferred to the attorney general’s office and asking for a phone number for the working group, the answer was, “I’m not aware of one.”

The promises of the President have led to little or no concrete action.

Apr 19 2012

Mortgage Fraud: Task Force Still An Empty Promise

85 days and counting since President Obama announced in his State of the Union speech the formation of the Residential Mortgage-Backed Securities Working Group (RMBS) co-chaired by NY State Attorney General Eric Schneiderman and it is still a toothless entity that has so office space, phones and has yet to be staffed. The New york Daily News noticed, [suggesting that Schneiderman should quit this fraud http://www.nydailynews.com/opinion/obama-mortgage-unit-awol-article-1.1063094]:

[.. ]calls to the Justice Department’s switchboard requesting to be connected with the working group produced the answer, “I really don’t know where to send you.” After being transferred to the attorney general’s office and asking for a phone number for the working group, the answer was, “I’m not aware of one.”

The promises of the President have led to little or no concrete action.

In fact, the new Residential Mortgage-Backed Securities Working Group was the sixth such entity formed since the start of the financial crisis in 2009. The grand total of staff working for all of the previous five groups was one, according to a surprised Schneiderman. In Washington, where staffs grow like cherry blossoms, this is a remarkable occurrence.

We are led to conclude that Donovan was right. The settlement and working group – taken together – were a coup: a public relations coup for the White House and the banks. The media hailed the resolution for a few days and then turned their attention to other topics and controversies.

But for 12 million American homeowners, collectively $700 billion under water, this was just another in a long series of sham transactions.

Schneiderman, who has acted boldly and honorably, should distance himself from this cynical arrangement. He should resign and go back to working effectively with fellow attorneys general in Delaware, Massachusetts and Nevada.

They are much more likely to create the kind of culture of accountability in the financial community that will protect U.S. families from the next real estate scam.

According to a [Reuter’s report http://mobile.reuters.com/article/idUSBRE83B1MR20120413?irpc=932], the office space has been located:

The task force includes the Justice Department, the SEC, the FBI and the Department of Housing and Urban Development, among others. It is charged with investigating the pooling and sale of home loans that contributed to the financial crisis.

While the group faced some skepticism, considering the crisis began nearly five years ago, there are signs it is serious about bringing cases.

The co-chairs meet formally every week and talk almost every day to coordinate on “a range of investigations,” a Justice Department official said, on condition of anonymity.

About 50 staff members are working on the effort, and the task force has identified separate office space in Washington and will move some personnel there, the official said.

The Justice Department last month posted a one-year position of full-time coordinator for the working group who could help manage discovery and coordinate investigations, according to the job posting.

Yves Smith at [naked capitalism http://www.nakedcapitalism.com/] agrees that [Schneiderman has been had by the Obama administration http://www.nakedcapitalism.com/2012/04/yet-another-obama-big-lie-mortgage-fraud-investigation-not-even-staffed.html]:

It was pretty obvious Schneiderman had been had. Obama tellingly did not mention his name in the SOTU. Schneiderman was only a co-chairman of the effort and would still stay on in his day job as state AG, begging the question of how much time he would be able to spend on the task force. His co-chairman is Lanny Breuer from the missing-in-action Department of Justice. And most important, no one on the committee was head of an agency, again demonstrating that this wasn’t a top Administration priority.

However, she disagrees with the Daily News assessment of Schniederman [acting “boldly and honorably” http://www.nakedcapitalism.com/2012/04/yet-another-obama-big-lie-mortgage-fraud-investigation-not-even-staffed.html]:

Schneiderman’s actions were neither bold nor honorable. Not surprisingly, his effort at a star turn in the national media [has not led to favorable poll results http://www.nakedcapitalism.com/2012/04/unknown-or-disliked-eric-schneiderman-at-negative-approval-rating-in-new-york.html] for him in New York. And the Daily News offers a fantasy as an alternative. There is no “going back.” The attorneys general gave up their best legal theories, and with it, their ability to protect the integrity of title, for grossly inadequate compensation and a photo opportunity.

It would be better if we were proven wrong, but Schneiderman entered into an obvious Faustian pact. He’s not getting his soul or his reputation back.

Meanwhile as [reported by Think Progress http://thinkprogress.org/economy/2012/04/18/466996/mortgage-task-force-no-phones/],

A recent report showed that mortgage foreclosure scams have [spiked 60 percent in 2012 http://www.huffingtonpost.com/2012/04/16/mortgage-foreclosure-scams_n_1429805.html?ref=business], while the nation’s biggest banks continue to sit upon a slew of fraudulent mortgage documents. A recent investigation of foreclosures in San Francisco found that [nearly all of them http://thinkprogress.org/economy/2012/02/16/426935/san-francisco-foreclosure-fraud-report/] had legal problems or suspicious documents, prompting the city council to [suggest a foreclosure moratorium http://thinkprogress.org/economy/2012/04/12/463224/san-francisco-foreclosure-moratorium/].

Apr 19 2012

Mortgage Fraud: Task Force Still An Empty Promise

85 days and counting since President Obama announced in his State of the Union speech the formation of the Residential Mortgage-Backed Securities Working Group (RMBS) co-chaired by NY State Attorney General Eric Schneiderman and it is still a toothless entity that has so office space, phones and has yet to be staffed. The New york Daily News noticed, suggesting that Schneiderman should quit this fraud:

[.. ]calls to the Justice Department’s switchboard requesting to be connected with the working group produced the answer, “I really don’t know where to send you.” After being transferred to the attorney general’s office and asking for a phone number for the working group, the answer was, “I’m not aware of one.”

The promises of the President have led to little or no concrete action.

In fact, the new Residential Mortgage-Backed Securities Working Group was the sixth such entity formed since the start of the financial crisis in 2009. The grand total of staff working for all of the previous five groups was one, according to a surprised Schneiderman. In Washington, where staffs grow like cherry blossoms, this is a remarkable occurrence.

We are led to conclude that Donovan was right. The settlement and working group – taken together – were a coup: a public relations coup for the White House and the banks. The media hailed the resolution for a few days and then turned their attention to other topics and controversies.

But for 12 million American homeowners, collectively $700 billion under water, this was just another in a long series of sham transactions.

Schneiderman, who has acted boldly and honorably, should distance himself from this cynical arrangement. He should resign and go back to working effectively with fellow attorneys general in Delaware, Massachusetts and Nevada.

They are much more likely to create the kind of culture of accountability in the financial community that will protect U.S. families from the next real estate scam.

According to a Reuter’s report, the office space has been located:

   The task force includes the Justice Department, the SEC, the FBI and the Department of Housing and Urban Development, among others. It is charged with investigating the pooling and sale of home loans that contributed to the financial crisis.

   While the group faced some skepticism, considering the crisis began nearly five years ago, there are signs it is serious about bringing cases.

   The co-chairs meet formally every week and talk almost every day to coordinate on “a range of investigations,” a Justice Department official said, on condition of anonymity.

   About 50 staff members are working on the effort, and the task force has identified separate office space in Washington and will move some personnel there, the official said.

   The Justice Department last month posted a one-year position of full-time coordinator for the working group who could help manage discovery and coordinate investigations, according to the job posting.

Yves Smith at naked capitalism agrees that Schneiderman has been had by the Obama administration:

It was pretty obvious Schneiderman had been had. Obama tellingly did not mention his name in the SOTU. Schneiderman was only a co-chairman of the effort and would still stay on in his day job as state AG, begging the question of how much time he would be able to spend on the task force. His co-chairman is Lanny Breuer from the missing-in-action Department of Justice. And most important, no one on the committee was head of an agency, again demonstrating that this wasn’t a top Administration priority.

However, she disagrees with the Daily News assessment of Schniederman acting “boldly and honorably” and that he can go back to working with the other attorneys general:

Schneiderman’s actions were neither bold nor honorable. Not surprisingly, his effort at a star turn in the national media has not led to favorable poll results for him in New York. And the Daily News offers a fantasy as an alternative. There is no “going back.” The attorneys general gave up their best legal theories, and with it, their ability to protect the integrity of title, for grossly inadequate compensation and a photo opportunity.

It would be better if we were proven wrong, but Schneiderman entered into an obvious Faustian pact. He’s not getting his soul or his reputation back.

Meanwhile as reported by Think Progress,

A recent report showed that mortgage foreclosure scams have spiked 60 percent in 2012, while the nation’s biggest banks continue to sit upon a slew of fraudulent mortgage documents. A recent investigation of foreclosures in San Francisco found that nearly all of them had legal problems or suspicious documents, prompting the city council to suggest a foreclosure moratorium.

Apr 19 2012

Mortgage Fraud: Task Still An Empty Promise

85 days and counting since President Obama announced in his State of the Union speech the formation of the Residential Mortgage-Backed Securities Working Group (RMBS) co-chaired by NY State Attorney General Eric Schneiderman and it is still a toothless entity that has so office space, phones and has yet to be staffed. The New york Daily News noticed, suggesting that Schneiderman should quit this fraud:

[.. ]calls to the Justice Department’s switchboard requesting to be connected with the working group produced the answer, “I really don’t know where to send you.” After being transferred to the attorney general’s office and asking for a phone number for the working group, the answer was, “I’m not aware of one.”

The promises of the President have led to little or no concrete action.

In fact, the new Residential Mortgage-Backed Securities Working Group was the sixth such entity formed since the start of the financial crisis in 2009. The grand total of staff working for all of the previous five groups was one, according to a surprised Schneiderman. In Washington, where staffs grow like cherry blossoms, this is a remarkable occurrence.

We are led to conclude that Donovan was right. The settlement and working group – taken together – were a coup: a public relations coup for the White House and the banks. The media hailed the resolution for a few days and then turned their attention to other topics and controversies.

But for 12 million American homeowners, collectively $700 billion under water, this was just another in a long series of sham transactions.

Schneiderman, who has acted boldly and honorably, should distance himself from this cynical arrangement. He should resign and go back to working effectively with fellow attorneys general in Delaware, Massachusetts and Nevada.

They are much more likely to create the kind of culture of accountability in the financial community that will protect U.S. families from the next real estate scam.

According to a Reuter’s report, the office space has been located:

   The task force includes the Justice Department, the SEC, the FBI and the Department of Housing and Urban Development, among others. It is charged with investigating the pooling and sale of home loans that contributed to the financial crisis.

   While the group faced some skepticism, considering the crisis began nearly five years ago, there are signs it is serious about bringing cases.

   The co-chairs meet formally every week and talk almost every day to coordinate on “a range of investigations,” a Justice Department official said, on condition of anonymity.

   About 50 staff members are working on the effort, and the task force has identified separate office space in Washington and will move some personnel there, the official said.

   The Justice Department last month posted a one-year position of full-time coordinator for the working group who could help manage discovery and coordinate investigations, according to the job posting.

Yves Smith at naked capitalism agrees that Schneiderman has been had by the Obama administration:

It was pretty obvious Schneiderman had been had. Obama tellingly did not mention his name in the SOTU. Schneiderman was only a co-chairman of the effort and would still stay on in his day job as state AG, begging the question of how much time he would be able to spend on the task force. His co-chairman is Lanny Breuer from the missing-in-action Department of Justice. And most important, no one on the committee was head of an agency, again demonstrating that this wasn’t a top Administration priority.

However, sh disagrees with the Daily News assessment of Schniederman] acting “boldly and honorably” and that he can go back to working with the other attorneys general http://www.nakedcapitalism.com…

Schneiderman’s actions were neither bold nor honorable. Not surprisingly, his effort at a star turn in the national media has not led to favorable poll results for him in New York. And the Daily News offers a fantasy as an alternative. There is no “going back.” The attorneys general gave up their best legal theories, and with it, their ability to protect the integrity of title, for grossly inadequate compensation and a photo opportunity.

It would be better if we were proven wrong, but Schneiderman entered into an obvious Faustian pact. He’s not getting his soul or his reputation back.

Meanwhile as reported by Think Progress,

A recent report showed that mortgage foreclosure scams have spiked 60 percent in 2012, while the nation’s biggest banks continue to sit upon a slew of fraudulent mortgage documents. A recent investigation of foreclosures in San Francisco found that nearly all of them had legal problems or suspicious documents, prompting the city council to suggest a foreclosure moratorium.

Apr 19 2012

On This Day In History April 19

This is your morning Open Thread. Pour your favorite beverage and review the past and comment on the future.

Find the past “On This Day in History” here.

April 19 is the 109th day of the year (110th in leap years) in the Gregorian calendar. There are 256 days remaining until the end of the year.

On this day in 1775, the American Revolution beginsAt about 5 a.m., 700 British troops, on a mission to capture Patriot leaders and seize a Patriot arsenal, march into Lexington to find 77 armed minutemen under Captain John Parker waiting for them on the town’s common green. British Major John Pitcairn ordered the outnumbered Patriots to disperse, and after a moment’s hesitation the Americans began to drift off the green. Suddenly, the “shot heard around the world” was fired from an undetermined gun, and a cloud of musket smoke soon covered the green. When the brief Battle of Lexington ended, eight Americans lay dead or dying and 10 others were wounded. Only one British soldier was injured, but the American Revolution had begun.

First shot

Ralph Waldo Emerson, in his “Concord Hymn”, described the first shot fired by the Patriots at the North Bridge as the “shot heard “round the world.”

A British officer, probably Pitcairn, but accounts are uncertain, as it may also have been Lieutenant William Sutherland, then rode forward, waving his sword, and called out for the assembled throng to disperse, and may also have ordered them to “lay down your arms, you damned rebels!” Captain Parker told his men instead to disperse and go home, but, because of the confusion, the yelling all around, and due to the raspiness of Parker’s tubercular voice, some did not hear him, some left very slowly, and none laid down their arms. Both Parker and Pitcairn ordered their men to hold fire, but a shot was fired from an unknown source.

According to one member of Parker’s militia none of the Americans had discharged their muskets as they faced the oncoming British troops. The British did suffer one casualty, a slight wound, the particulars of which were corroborated by a deposition made by Corporal John Munroe. Munroe stated that:

   “After the first fire of the regulars, I thought, and so stated to Ebenezer Munroe …who stood next to me on the left, that they had fired nothing but powder; but on the second firing, Munroe stated they had fired something more than powder, for he had received a wound in his arm; and now, said he, to use his own words, ‘I’ll give them the guts of my gun.’ We then both took aim at the main body of British troops the smoke preventing our seeing anything but the heads of some of their horses and discharged our pieces.”

Some witnesses among the regulars reported the first shot was fired by a colonial onlooker from behind a hedge or around the corner of a tavern. Some observers reported a mounted British officer firing first. Both sides generally agreed that the initial shot did not come from the men on the ground immediately facing each other. Speculation arose later in Lexington that a man named Solomon Brown fired the first shot from inside the tavern or from behind a wall, but this has been discredited. Some witnesses (on each side) claimed that someone on the other side fired first; however, many more witnesses claimed to not know. Yet another theory is that the first shot was one fired by the British, that killed Asahel Porter, their prisoner who was running away (he had been told to walk away and he would be let go, though he panicked and began to run). Historian David Hackett Fischer has proposed that there may actually have been multiple near-simultaneous shots. Historian Mark Urban claims the British surged forward with bayonets ready in an undisciplined way, provoking a few scattered shots from the militia. In response the British troops, without orders, fired a devastating volley. This lack of discipline among the British troops had a key role in the escalation of violence.

Nobody except the person responsible knew then, nor knows today with certainty, who fired the first shot of the American Revolution.

Witnesses at the scene described several intermittent shots fired from both sides before the lines of regulars began to fire volleys without receiving orders to do so. A few of the militiamen believed at first that the regulars were only firing powder with no ball, but when they realized the truth, few if any of the militia managed to load and return fire. The rest wisely ran for their lives.

Apr 19 2012

You are what you eat

Apr 19 2012

The White Rose

When I was 6, I began putting together a massive collection of comic books. Batman implanted a concept in my mind, introduced me to a paradigm as to how the world is set up: that there are oppressors, there are the oppressed, and there are those who step up to defend the oppressed. This resonated with me so much that throughout the rest of my childhood I gravitated towards any book that reflected that paradigm-‘Uncle Tom’s Cabin,’ ‘The Autobiography of Malcolm X,’ and I even saw an ethical dimension to ‘The Catcher in the Rye.’

By the time I began high school and took a real history class, I was learning just how real that paradigm is in the world, I learned about the Native Americans and what befell them at the hands of European settlers. I learned about how the descendants of those European settlers were in turn oppressed under the tyranny of King George III. I read about Paul Revere, Tom Paine, and how Americans began an armed insurgency against British forces-an insurgency we now celebrate as the American Revolutionary War. As a kid I even went on school field trips just blocks away from where we sit now. I learned about Harriet Tubman, Nat Turner, John Brown, and the fight against slavery in this country. I learned about Emma Goldman, Eugene Debs and the struggles of the labor unions, working class and poor. I learned about Anne Frank, the Nazis, and how they persecuted minorities and imprisoned dissidents. I learned about Rosa Parks, Malcolm X, Martin Luther King and the civil rights struggle. I learned about Ho Chi Minh, and how the Vietnamese fought for decades to liberate themselves from one invader after another. I learned about Nelson Mandela and the fight against apartheid in South Africa. Everything I learned in those years confirmed what I was beginning to learn when I was 6: that throughout history, there has been a constant struggle between the oppressed and their oppressors. With each struggle I learned about, I found myself consistently siding with the oppressed, and consistently respecting those who stepped up to defend them-regardless of nationality, regardless of religion. And I never threw my class notes away. As I stand here speaking, they are in a neat pile in my bedroom closet at home.

In your eyes, I’m a terrorist, and it’s perfectly reasonable that I be standing here in an orange jumpsuit, but one day, America will change and people will recognize this day for what it is. They will look at how hundreds of thousands of Muslims were killed and maimed by the U.S. military in foreign countries, yet somehow I’m the one going to prison for ‘conspiring to kill and maim’ in those countries- because I support the mujahedeen defending those people. They will look back on how the government spent millions of dollars to imprison me as a ‘terrorist,’ yet if we were to somehow bring Abeer al-Janabi back to life in the moment she was being gang-raped by your soldiers, to put her on that witness stand and ask her who the ‘terrorists’ are, she sure wouldn’t be pointing at me.

First They Come For the Muslims

By Chris Hedges, Truthdig

Posted on Apr 16, 2012

Stephen F. Downs, a lawyer in Albany, N.Y., a founder of Project Salam and the author of “Victims of America’s Dirty War,” a booklet posted on the website, has defended Muslim activists since 2006. He has methodically documented the mendacious charges used to incarcerate many Muslim activists as terrorists. Because of “terrorism enhancement” provisions, any sentence can be quadrupled-even minor charges can leave prisoners incarcerated for years.

…

“I was unprepared for the fact that the government would put together a case that was just one lie piled up on top of another lie,” Downs said. “And when you pointed it out to them they didn’t care. They didn’t refute it. They knew that it was a lie. The facts of most of these pre-emptive cases don’t support the charges. But the facts are irrelevant. The government has decided to target these people. It wants to take them down for ideological reasons.”

“In the past, when the government wanted to do something illegal it simply went ahead and broke the law,” he said. “They rounded up the Japanese during World War II and stuck them in concentration camps. They knew they were breaking the law when they decided to go after the activists with COINTELPRO in the 1960s but they rationalized that they were doing it for a higher purpose. This is different. The government is destroying the legal framework of our country. They are twisting it out of recognition to make it appear as though what they’re doing is legal. I don’t remember that kind of a situation in the past. The opinions of the court are now only lame excuses as to why the courts can’t do justice.”

“The government lawyers must know these pre-emptive cases are fake,” he said. “They must know they’re prosecuting people before a crime has been committed based on what they think the defendant might do in the future. They defend what they are doing by saying that they are protecting the nation from people who might want to do it harm. I’m sure they’ve been co-opted at least to believe that. But I think they also know that they are twisting the legal concepts, they are stretching them beyond what the framework of the law can tolerate. They have convinced themselves that it is OK to convict many innocent people as long as they prevent a few people from committing crimes in the future. They are creating an internal culture within the Justice Department where there is contempt for the law and for the foundational principle that it is better for one guilty person to go free than that one innocent person is convicted. They must know they do not do justice, and that they serve only ideological ends.”

Downs pointed out that if the government was actually concerned about the rule of law it would prosecute politicians and other prominent Americans who have publicly spoken out in support of Mojahedin-e Khalq (MEK or People’s Holy Jihadis), an armed group on the State Department terrorism list that carries out terrorist attacks inside Iran. They include former New York City Mayor Rudy Giuliani, former Pennsylvania Gov. Ed Rendell, former U.N. Ambassador John Bolton, former Vermont Gov. Howard Dean, former Homeland Security Secretary Tom Ridge, former Attorney General Michael Mukasey, former homeland security adviser Frances Fragos Townsend, former FBI Director Louis Freeh, former Joint Chiefs of Staff Chairman Gen. Hugh Shelton and Gen. James Jones, who was President Obama’s first national security adviser. Some of them voiced their backing in speeches for which they were paid lavishly.

…

Already dissidents such as peace activists, environmentalists and outspoken intellectuals have been treated as terrorists. Downs expects soon to see labor organizers and those in Occupy encampments treated as terrorists, especially if domestic dissent spreads. Yet despite his pessimism he has no intention of surrendering.

“I take comfort from organizations like the White Rose in Germany,” he said, referring to the anti-Nazi group that defied Hitler and saw most of its members arrested and executed. “They were doomed almost from the beginning. How long could you defy Hitler before you were rounded up and shot? It appeared to be a futile effort. And yet, after the war, when people went back and began to rebuild the German nation, they could look to the White Rose as an example of what German culture was really about. There were Germans who cared about peace, freedom and tolerance. I’m working now as much for the historical record as for those still in jail.”

‘Better 100 guilty go free than one innocent punished.’  (Benjamin Franklin on Blackstone’s Formulation)

The White Rose.

Apr 19 2012

My Little Town 20120418: When Ma Got Running Water

Those of you that read this regular series know that I am from Hackett, Arkansas, just a mile or so from the Oklahoma border, and just about 10 miles south of the Arkansas River.  It was a rural sort of place that did not particularly appreciate education, and just zoom onto my previous posts to understand a bit about it.

I have mentioned this is passing before, but here is the whole story about Ma getting running water.  In those days, and I am thinking around 1964 or 1965, the City of Hackett decided to start a central water supply.

That was a BIG deal for lots of folks in my little town, and Ma was typical.  Before we get into the details, let us see how she lived before running water.

Load more