Tag: Barack Obama

Foreclosure

They Go or Obama Goes

Robert Scheer,

Truthdig, August 25, 2010

Barack Obama and the Democrats he led to a stunning victory two years ago are going down hard in the face of an economic crisis that he did nothing to create but which he has failed to solve. That is somewhat unfair because the basic blame belongs to his predecessors, Bill Clinton and George W. Bush, who let the bulls of Wall Street run wild in the streets where ordinary folks lived. And there was universal Republican support in Congress for the radical deregulation of the financial industry that produced this debacle.

The core issue for the economy is the continued cost of a housing bubble made possible only after what Clinton Treasury Secretary Lawrence Summers back then trumpeted as necessary “legal certainty” was provided to derivative packages made up of suspect Alt-A and subprime mortgages. It was the Commodity Futures Modernization Act, which Senate Republican Phil Gramm drafted and which Clinton signed into law, that made legal the trafficking in packages of dubious home mortgages. In any decent society the creation of such untenable mortgages and the securitization of risk irrationally associated with it would have been judged a criminal scam. But no such judgment was possible because thanks to Wall Street’s sway under Clinton and Bush the bankers got to rewrite the laws to sanction their treachery.

It is Obama’s continued deference to the sensibilities of the financiers and his relative indifference to the suffering of ordinary people that threaten his legacy, not to mention the nation’s economic well-being. There have been more than 300,000 foreclosure filings every single month that Obama has been president, and as The New York Times editorialized, “Unfortunately, there is no evidence that the Obama administration’s efforts to address the foreclosure problem will make an appreciable dent.”

[snip]

The Week in Editorial Cartoons, Part I – BP’s Soup Recipe

Crossposted at Daily Kos and Docudharma

John Sherffius

John Sherffius, Comics.com (Boulder Daily Camera)

Note: Due to a deluge of editorial cartoons over the past week or so, I’m going to, time permitting, post Part II of this weekly diary in the next few days.  In addition to some of the issues covered in this edition, I’ll include more cartoons on the floods in Pakistan, the withdrawal of combat U.S. forces in Iraq, and Rupert Murdoch’s $1 million contribution to the GOP.

George Orwell’s Iraq

“Congressman Dennis Kucinich (D-OH) today challenged the notion that removing ‘combat brigades’ but leaving 50,000 U.S. troops in Iraq constitutes an end to combat operations, let alone an end to the war”, a press release issued by Kucinich datelined Washington, Aug 19, 2010 and published on the Congressman’s house website stated. The release continued with:

“Who is in charge of our operations in Iraq, now? George Orwell? A war based on lies continues to be a war based on lies. Today, we have a war that is not a war, with combat troops who are not combat troops. In 2003, President Bush said ‘Mission Accomplished’. In 2010, the White House says combat operations are over in Iraq, but will leave 50,000 troops, many of whom will inevitably be involved in combat-related activities.”

“Just seven days ago, General Babaker Shawkat Zebari, the commander of Iraq’s military, said that Iraq’s security forces will not be trained and ready to take over security for another 10 years. One story is being told to the military on the ground in Iraq and another story is being told to their families back home.”

“You can’t be in and out at the same time.”

“This is not the end of the war; this is simply a new stage in the campaign to lull the American people into accepting an open-ended presence in Iraq. This is not an honest accounting to the American people and it diminishes the role of the troops who will put their lives on the line. This is not fair to the troops, their families or the American people.”

“The Administration and the Pentagon would be wise to level with the American people about our long-term commitment to Iraq.”

“The cost of the wars has been estimated to be around $1 million per soldier per year. Each year the troop levels stay at 50,000 means another $50 billion is wasted. I object to spending billions of dollars to maintain a charade in Iraq while our own economy is failing and over 15 million Americans are out of work. I object to keeping any level troops in Iraq to maintain a war based on lies. It is time that Congress sees through the manipulation and finally acts to truly end the war by stopping its funding,” said Kucinich.

Washington ‘Protecting’ Iraq From…Washington

Crossposted from Antemedius

In a perhaps unintentional and obtuse twist of sardonic wit and possibly complete unawareness of the irony of his own words, Commander of United States Forces – Iraq (USF-I) General Ray Odierno said on Sunday in an interview with ABC’s Christiane Amanpour that the 50,000 US troops that will remain in Iraq along with “a significant civilian presence” after the US ‘withdraws’, will help Iraq thwart “interference from outside countries”.

Really. You can’t make this stuff up. If fiction it wouldn’t qualify as humor.

United States forces under President George W. Bush invaded Iraq in an unprovoked attack in 2003 and have occupied the country since. By some counts more than a million Iraqis have died as a direct result of the US invasion and occupation.

Odierno was former primary military advisor to Secretary of State Condoleezza Rice from November 2004 to May 2006, and has long argued against withdrawal of all US forces from Iraq. He assumed command of USF-I’s predecessor, Multi-National Force – Iraq on September 16, 2008 and took the reins as Commander of U.S. Forces Iraq on January 1, 2010, under President Barack Obama.

Odierno’s ironic comments in the interview followed only a few days after President Obama publicly backtracked on his 2009 pledge to withdraw all US combat troops from Iraq by September 1, 2010:

Obama’s Iraq Withdrawal Kabuki

Crossposted from Antemedius

Gareth Porter is an historian and investigative journalist and US foreign and military policy analyst. He writes regularly for Inter Press Service on US policy towards Iraq and Iran. Porter is author of four books, the latest of which is Perils of Dominance: Imbalance of Power and the Road to War in Vietnam.

Porter talks with Real News Network’s Paul Jay with a dissection of Obama’s Iraq ‘withdrawal’ smoke and mirrors kabuki.



Real News Network – August 5, 2010

Gareth Porter:

Obama backtracks on commitment to withdraw combat troops from Iraq


Transcript below the fold

I’m Comin’ Out Today — As A Thirteenther!

Oh boy, oh boy, oh boy, oh boy!!!  Do I have a FANTASTIC topic for your next Teabagger rally:

Iowa GOP jumps on the ‘Thirteenther’ bandwagon

A provision in the Republican Party of Iowa’s platform calling for the “reintroduction and ratification of the original 13th Amendment” to the U.S. Constitution got some national attention this week, with the party’s spokesman admitting the plank is focused solely on Barack Obama.

The current 13th amendment bans slavery, and Iowa Republicans are not in favor of its repeal. They are, however, interested in reintroducing an amendment originally put before the states for ratification back in 1810. It outlawed any person who accepts a “title of nobility” from a foreign country from ever holding political office.

Does that bring to mind a certain President who flew to Sweden to accept a Nobel Peace Prize that he didn’t earn?  Hmmmm?  (oh, wait . . . it already said it was about Obama?  That just blows my suspense buildin’ all to heck!)

I know it’s confusing (well . . . it is to me), so let me help ya out a bit.  Instead of activist congresses bannin’ slavery with the Thirteenth Amendment, here is what the real Thirteenth Amendment, known as the Titles of Nobility Amendment (or TONA) was meant to say way back in 1810 already:

If any citizen of the United States shall accept, claim, receive or retain, any title of nobility or honour, or shall, without the consent of Congress, accept and retain any present, pension, office or emolument of any kind whatever, from any emperor, king, prince or foreign power, such person shall cease to be a citizen of the United States, and shall be incapable of holding any office of trust or profit under them, or either of them.

Four Little Words

Has anyone wondered what happened to FISA reform that President Obama promised to do after he took office? Well if this is his idea of reform, he is no better than the gang that occupied the Executive for the last 8 years.

In today’s Washington Post, the White House proposal would ease FBI access to records of Internet activity by adding four little words, electronic communication transactional records, the government will have access to the addresses to which an Internet user sends e-mail; the times and dates e-mail was sent and received; and possibly a user’s browser history. The government lawyers are claiming that it would not grant access to content. If you believe that I have a bridge in Brooklyn I can sell you.

From emptywheel at FDL:

Make no mistake. This is one of the most important pieces of civil liberties news in a long time. The Obama Administration is asking Congress to sanction the collection of internet records without a warrant that has been going on-the kind of shit they used to do without a warrant, until people expressed their opposition.

But then Democrats took over and now they want legal sanction and now-Voila, a request that presumably provides cover.

As Glen Greenwald said, “One Point, contrary to blatant strawman incessantly raised by Obama loyalists that the criticisms are NOT grounded in the complaints that Obama has failed to act quickly enough to usher in progressive policies but instead are based on the horrendous policies which Obama himself has affirmatively and explicitly adopted as his own, many of which directly contradict what he vowed to do as President.”

Obama has gone further than Bush by ordering the assassination of an American citizen abroad without due process and now this. Kevin Drum at Mother Jones said it best last night

You know, if I’d wanted Dick Cheney as president I would have just voted for him.

The Week in Editorial Cartoons – Mission Accomplished

Crossposted at Daily Kos and Docudharma

Chris Britt

The Oil Crisis is Solved by Chris Britt, Comics.com, see reader comments in the State Journal-Register (Springfield, IL)

12

What Keith Said

Visit msnbc.com for breaking news, world news, and news about the economy

BP’s Well May Leak For 55 Years Or More Into The Gulf Of Mexico?

On June 15, 2010 the US Department of Energy announced that a group of federal and independent scientists convened by Secretary of Energy Steven Chu, Secretary of the Interior Ken Salazar, and Chair of the National Incident Command’s Flow Rate Technical Group (FRTG) Dr. Marcia McNutt (Director of the U.S. Geological Survey) had developed a new estimate for the amount of oil gushing from the ruptured well in the Gulf of Mexico that indicated the leak could be spewing up to 2.52 million gallons of crude oil per day into the waters of the Gulf of Mexico from British Petroleum’s Macondo Well.

“This estimate brings together several scientific methodologies and the latest information from the sea floor, and represents a significant step forward in our effort to put a number on the oil that is escaping from BP’s well,” said Chu, who then expanded with “As we continue to collect additional data and refine these estimates, it is important to realize that the numbers can change.  In particular, the upper number is less certain – which is exactly why we have been planning for the worst case scenario at every stage and why we are continuing to focus on responding to the upper end of the estimate, plus additional contingencies.”

Estimates from both BP and from the US Government of the amount of oil gushing from the blown out wellhead on the gulf seabed have been almost continually revised upwards since the well blowout and leak began on April 20, with widespread suspicions that BP has deliberately understated the leak rate in attempts to limit liability for the company.

It now appears that Chu may have been somewhat prescient with his statement that “it is important to realize that the numbers can change”, and that the estimate of oil leaking into the Gulf of Mexico may need to be increased again, since an undated internal BP document (.PDF) obtained by Chairman of the House Select Committee on Energy Independence and Global Warming Congressman Ed Markey (D-MA) was released by Markey on Sunday June 20 showing that BP’s own internal analysis believed that a worst-case scenario, based on damage to the well bore, could result in a leak rate from the well of 55,000 to 100,000 barrels of oil per day.  

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