Friday, December 16, 2011

ANTONIO VILLARAIGOSA - LA RAZA RACIST SUPREMACIST MAYOR OF LOS ANGELES, WHERE LAWS DON'T APPLY TO ILLEGALS!

EVERY DAY THERE ARE 12 AMERICANS MURDERED BY ILLEGALS DRIVING WITHOUT LICENSE OR INSURANCE, AND FREQUENTLY DRUNK!


MEXICANS ARE ABOVE THE LAW ALL OVER THE NATION, AND THEY KNOW IT!

"It is a sad day for Los Angeles residents because the Mayor is directing the LAPD to purposely not enforce a state law designed to protect public safety."


LA RAZA SUPREMACIST MAYOR OF MEX INFESTED LOS ANGELES HAS A PLAN TO KEEP ILLEGALS ABOVE THE LAW.

APPARENTLY NO COMMENT BY LA RAZA TOADY LAPD CHIEF CHARLIE BECK ABOUT THE NUMBER OF MURDERS HIS BURDENED ILLEGALS COMMITTED IN LOS ANGELS, OR THE FACT THAT L.A. PAYS OUT NEARLY $10 MILLION FOR MEXICAN GRAFFITI ABATEMENT!!! THOSE THINGS ARE SLID UNDER THE STINKING TACO TRUCK WHEN THEY’RE PUSHING THEIR LA RAZA SUPREMACY AGENDA!

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“Under the law illegal immigrants make up the majority of the drivers who have their cars impounded because they can't get licenses in California or most states. LAPD Chief Charlie Beck told the local newspaper that this presents an "unfair burden" and "disproportionate blow" for illegal aliens, who he refers to as a "valuable asset to our community." 

CORRUPTION CHRONICLES: L.A. Police Won't Enforce Safety Law To Help (Illegal Aliens)

 L.A. Police Won't Enforce Safety Law To Help Illegal Aliens

The city of Los Angeles is taking its sanctuary title more seriously than most by ordering police officers to stop enforcing a state public safety law because it creates an "unfair burden" for illegal immigrants.

A few weeks ago the mayor, Antonio Villaraigosa, directed the Los Angeles Police Department (LAPD) to stop impounding the vehicles of unlicensed drivers for 30 days as per state law. The measure is intended to keep potentially reckless drivers off the road and therefore protect the public. It applies to unlicensed drivers as well as those who have had their license revoked or suspended.

Under the law illegal immigrants make up the majority of the drivers who have their cars impounded because they can't get licenses in California or most states. LAPD Chief Charlie Beck told the local newspaper that this presents an "unfair burden" and "disproportionate blow" for illegal aliens, who he refers to as a "valuable asset to our community."

So the chief has ordered his officers to give unlicensed drivers a chance to avoid having their vehicles impounded by calling someone with a license who would then be allowed to drive the car. The chief says it's a "fairness issue" because there is a "vast difference between someone driving without a license because they cannot legally be issued one and someone driving after having their license revoked."

The city's police union is outraged and is charging the mayor with putting politics above public safety. "This new policy will result in innocent people being injured and killed," the union said in a statement posted on its website. "It is a sad day for Los Angeles residents because the Mayor is directing the LAPD to purposely not enforce a state law designed to protect public safety."

The union further points out that the new policy exposes officers and the city to potential legal liabilities stemming from any damage or injury caused by an unlicensed driver's continued operation of a vehicle that should have been impounded under state law. It also "substantially reduces the disincentives against the unlicensed and unlawful operation of a vehicle."

The LAPD has a decades-old policy (Special Order 40) that prohibits officers from initiating police action with the objective of discovering the alien status of a person. This prevents officers from inquiring about the immigration status of an individual and from contacting federal officials about an individual's immigration status. In 2006 Judicial Watch filed a taxpayer lawsuit in the Superior Court of the State of California asking the court to prohibit the LAPD from expending taxpayer funds to enforce and maintain Special Order 40, which violates both federal immigration laws and California law while placing American citizens at risk.


AMNESTY - OBAMA'S LA RAZA INFESTED WHITE HOUSE PROMISES AMENSTY or CONTINUED NON-ENFORCEMENT

NO PRESIDENT IN HISTORY HAS HISPANDERED FOR THE ILLEGALS' VOTES MORE. NO ADMIN HAS BEEN SO INFESTED WITH LA RAZA SUPREMACIST.

TO BUY THEIR VOTES, OBAMA HAS PROMISED ILLEGALS OUR JOBS, NO E-VERIFY, LAWSUITS BY THE DEPT of JUSTICE AGAINST LEGALS TO EXPAND LA RAZA SUPREMACY AND AMNESTY... or at the very least... CONTINUED NON-ENFORCEMENT!



Why is the Obama administration using its executive powers to implement a general amnesty for the vast majority of illegal aliens present in the U.S.? And why is it abusing its law enforcement power to try to prevent states from finding illegal aliens?

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It’s time for the Obama administration to stop suing states and start cooperating with them, encouraging them to help the federal government find, detain and deport illegal immigrants.

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Team Obama's Immigration Hypocrisy

By Hans von Spakovsky

Published December 13, 2011 | FoxNews.com

Why is the Obama administration using its executive powers to implement a general amnesty for the vast majority of illegal aliens present in the U.S.? And why is it abusing its law enforcement power to try to prevent states from finding illegal aliens?

The Justice Department has sued Arizona, Alabama, South Carolina and Utah over their new laws that require police officers to check the immigration status of individuals arrested or detained for violations of state laws if there is a reasonable suspicion the person is unlawfully present in the United States.

On Monday, the Supreme Court has announced that it will hear challenges to the Arizona law.

Yet -- hypocrisy alert -- the State Department is doing everything it can to ensure that local law enforcement authorities determine the citizenship status of individuals they arrest in order to guarantee that foreign nationals, including illegal aliens, are notified of their right to assistance from their country’s consular officials.

Consider the lawsuit the Justice Department filed against South Carolina on Oct. 31. The complaint says that South Carolina’s requirement that the immigration status of arrested individuals be verified “will cause the detention and harassment of authorized visitors, immigrants, and citizens…It will conflict with longstanding federal law governing the registration and movement of aliens.”

But the Obama State Department is so concerned about providing consular access when non-citizens are arrested in the United States that it has put out a 144-page manual on “Consular Notification and Access.”

It is pretty difficult to provide arrested individuals with notification of their consular rights unless local police officers determine that they are, in fact, foreign nationals.

The State Department manual, published by the Bureau of Consular Affairs, contains detailed instructions for “Federal, State, and Local Law Enforcement and Other Officials Regarding Foreign Nationals in the United States and the Rights of Consular Officials to Assist Them.” It even has a “model standard operating procedure” that it recommends be adopted by local police agencies as “a template.”

Page five of the manual lays out a flow chart for local police officers to follow when they arrest an individual. If the individual is not a U.S. citizen, it tells officers to “inform detainee, without delay, that he or she may have consulate notified of arrest/detention” (emphasis in original). In fact, in complete conflict with the Obama Justice Department’s litigation strategy against state immigration laws, the manual, in the “Frequently Asked Questions” (FAQ) section, says that “[r]outinely asking every person arrested or detained whether he or she is a U.S. citizen is highly recommended.”

The entire manual and the model template make it very clear that the State Department believes that local law enforcement has a duty when it arrests or detains a foreign national, to “immediately or as soon as reasonably possible, and in no case longer that the end of the booking shift” to “[n]otify the nearest consulate of the foreign national’s country.” Pages 108 through 128 of the manual even provide the phone and fax numbers of foreign embassies to make it easier for local police officers to comply.

In justifying its lawsuits against the states, the Obama administration has also made public claims that state laws that authorize citizenship verification of arrestees will lead to racial or language profiling – that individuals may be treated as non-citizens just because they don’t speak English well.

However, in the FAQ section of the State Department manual, on page 13, in answer to the question of how an arresting officer may know “that someone is a foreign national,” the State Department says “unfamiliarity with English may also indicate foreign nationality.”

The State Department’s actions are in large part a result of the Supreme Court’s decision in Medellin v. Texas in 2008, in which it refused to stop the execution of a Mexican national who gang-raped and murdered two girls in Texas.

Medellin, who was in the United States illegally, had not been advised of his consular access rights under the Vienna Convention on Consular Relations when he was arrested. The Obama administration even went to the Supreme Court in June of this year to ask it (unsuccessfully) to stop the execution of another illegal Mexican national, Humberto Leal, who murdered a 16-year old girl in Texas, because he had also not been advised of his right to diplomatic counsel.

According to the State Department’s own website, the Department considers it important that state and local law enforcement comply with the Vienna Convention so that our own citizens will be provided with the same type of assistance by “U.S. consular officers” when they are abroad.

So while the State Department is doing everything it can to encourage local law enforcement officials to check the citizenship status of anyone arrested so that the U.S. can comply with treaty-provided consular access privileges, the Justice Department is suing to prevent local law enforcement officials from checking the citizenship status of anyone arrested even when they have a “reasonable suspicion” that the individual is in the United States unlawfully.

This despite the fact that the State Department manual says on page 13 that it “is the arresting officer’s responsibility to inquire about a person’s nationality if there is any reason to believe that he or she is not a U.S. citizen.” “Any reason to believe” is a less strict standard than “reasonable suspicion.”

It’s time for the Obama administration to stop suing states and start cooperating with them, encouraging them to help the federal government find, detain and deport illegal immigrants. If it lacks the courage to do that, and it truly believes, as its litigation indicates, that authorities should not be checking the citizenship status of local lawbreakers, than the State Department should withdraw its “Consular Notification and Access” manual, and stop telling local police officers to comply with the Vienna Convention by checking the citizenship status of criminals. And it should quit asking the Supreme Court to prevent the executions of convicted murderers because local police did not identify them as foreign nationals.

Hans A. von Spakovsky is a Senior Legal Fellow at The Heritage Foundation and a former Counsel to the Assistant Attorney General for Civil Rights at the Justice Department.

NAFTA - HOW THE DEMOCRAT PARTY BECAME THE PARTY OF OPEN BORDERS AND JOBS & WELFARE GO TO ILLEGALS TO KEEP WAGES DEPRESSED LIKE THEY ARE IN CHINA!



IT WAS BILL CLINTON THAT PUSHED NAFTA. BOTH BILLARY AND HILLARY ARE ADVOCATES OF OPEN BORDERS TO KEEP WAGES DEPRESSED SO THAT THEIR BILLIONAIRE DONORS WOULD STAY HAPPY!
 BOTH HILLARY BILLARY ARE LA RAZA DEMS, AND PUSH FOR THE LA RAZA SUPREMACY AGENDA NEARLY AS MUCH AS OBAMA, AND THE OTHER CORRUPT LA RAZA DEMS, FEINSTEIN, BOXER, PELOSI, and REID!

WIKILEAKS HAS EXPOSED OBAMA'S OPEN BORDERS TO KEEP WAGES DEPRESSED AS WELL.
THERE IS A REASON WHY MOST OF THE FORTUNE 500 ARE GENEROUS CONTRIBUTORS TO THE MEXICAN FASCIST PARTY of LA RAZA!
THERE IS A REASON WHY THE U.S. CHAMBER of COMMERCE, FRONTING FOR WALL ST INTERESTS, DEMANDS OPEN BORDERS, NO E-VERIFY, AND EXPANDED DREAM ACTS FOR LA RAZA… IT’S ALL ABOUT MAINTAINING A STEADY FLOW OF “CHEAP” LABOR ILLEGALS OVER OUR BORDERS TO KEEP WAGES DEPRESSED.
THAT “CHEAP” LABOR COST LOS ANGELES COUNTY ALONE $600 MILLION PER YEAR IN WELFARE TO ILLEGALS, PLUS NEARLY HALF OF ALL JOBS IN THIS MASSIVE COUNTY ARE HELD BY ILLEGALS USING STOLEN SOCIAL SECURITY NUMBERS.
WE CAN THANK OUR LA RAZA DEMS FOR THAT!
DEMOCRATS ARE THE PARTY OF WALL ST AND ILLEGALS!
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Our national sovereignty and manufacturing base has been destroyed through NAFTA and CAFTA which has resulted in totally open borders culminating in the overwhelming of our infrastructure, hospital emergency rooms and our educational institutions by the human onslaught which will be soon be at unprecedented levels which promise to bring 150 million additional immigrants to our country by 2040.



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THE ROAD TO TYRANNY: LET ME COUNT THE WAYS



By Dave Hodges
December 16, 2011
NewsWithViews.com

Humanity is under attack from so many directions, it is difficult to count the ways.

We are under attack from the skies and through the poisoning of our air through massive chemical spraying complete with Alzheimer’s and dementia causing aluminum sulfate and cancer causing barium. Fukashima radiation, Corexit spraying and the resulting toxic rain from the Gulf oil spill is running rampant over our country and not one ounce of mainstream media coverage is afforded to these dangers. Prevention and remediation from these dangers are not put into place by our present government.

Our water is being systematically removed from the country by Nestle, and our water tables are being systematically compromised by environmental toxins and of course many Americans are consuming water permeated with IQ-lowering rocket fuel (i.e., fluoride).

Our food is being poisoned through the rampant use of cancer-causing MSG products, and the unlabeled, unregulated and cancer-causing Monsanto GMO's.

Under the guise of fighting terrorism, Americans are now facing illegal detention, torture and murder. The Military Commissions Act and the John Warner Defense Authorization Act. The average citizen is now labeled as a terrorist by Homeland Security as their inspired documents, such as the MIAC Report, define domestic terrorism as the mere act of criticizing our governmental leaders, supporting Ron Paul, being a Libertarian, being a member of the Constitution Party, being a Second Amendment supporter and demanding that our leaders follow the Constitution. By virtue of the fact that you have visited this web site, you could now be considered to be a domestic terrorist.

Our national sovereignty and manufacturing base has been destroyed through NAFTA and CAFTA which has resulted in totally open borders culminating in the overwhelming of our infrastructure, hospital emergency rooms and our educational institutions by the human onslaught which will be soon be at unprecedented levels which promise to bring 150 million additional immigrants to our country by 2040.

Obama’s administration has openly engaged in human smuggling as well as drug and gun trafficking to criminal cartels, in programs such as “Fast and Furious.” Bush and Obama have illegally entered America into the sovereignty snatching SPP through the implementation of the North American Union.

Our property rights and water rights as well as our right to farm in traditional ways are being destroyed through the implementation of the pseudo-environmentalist, Agenda 21 programs at the local level. As a result, massive food shortages and outright famines are right around the corner.

America is being de-industrialized through the global warming scam and the accompanying illegal cap and trade schemes. Meanwhile, as the New York Times reports, Ugandan villages are being burned down and replaced with trees in the name of saving the planet through carbon offset programs. This insane application of carbon trading is now being enforced by American military boots on the ground in Uganda. Next year, you will see roving blackouts and the doubling of utility rates as Obama makes good on his campaign promise of “necessarily skyrocketing utility rates.”

Americans will soon be subjected to the death panels of Obama care in which citizens over the age of 70 are officially referred to as “units” and are targeted for comfort care but not given life saving measures. This is an undeniable, unmitigated and naked version of Eugenics cast in the same flavor as that practiced by Margaret Sanger and Adolph Hitler.

In the meantime, our youth are under attack through mercury laden vaccines which also contains the immune system destroying properties of the flu vaccine adjuvants of MF 59, Squaylene and now we find that the active ingredient for Lyme disease is in the patent for the current flu vaccine. One in 58 boys are now autistic courtesy of the pollutants in the vaccines.

America is now witnessing the final stages of the installation of a police state surveillance grid through the creation and installation of video cameras and microphones in the Homeland Security funded Intellistreet light poles. The National Security Administration listens to our every call, their computers read every email and fax, courtesy of Echelon. Americans are being encouraged, by Big Sis, to spy on another as we purchase the Chinese slave labor products at Walmart.

Our homes are being stolen through the use of fraudulent robo signers and illegal repossessions without the mortgage note in order that the six mega banks can double and triple their illegitimate profits off each home they are able to steal and resell again and again.

This week, Americans have discovered that the Federal Reserve (i.e., Goldman Sachs) is giving our money away to their private banking interests, (aka) their subsidiary holdings, in Europe. Additionally, more of our money has been stolen with the complicit participation of ex-Goldman Sachs federal government overseers like Gary Gensler who has failed to deliver even one indictment of his ex-Goldman Sachs partner, John Corzine, and his MF Global theft ring resulting for the “loss” of $3 billion dollars in private accounts. John Corzine and his governmental partner in crime, Gary Gensler, have established the legal precedent of stealing from private American accounts. The net effect is that YOU have no retirement. YOU have no social security. YOU have no bank account. Soon, everything YOU own will all belong to the banksters!

Our “public servants” in Congress (e.g., Nancy Pelosi) self-admittedly, on 60 Minutes, routinely engage in stock market insider trading which they have made legal for themselves, but would send you to prison for doing the same.

Every day, the TSA conducts heinous acts against the American people, such as strip searching and injuring 85 year old ladies, grabbing the genitals of our children and wives and largely engaging in acts which, if performed by you, would land you in jail for five years. Your body and your self-respect belong to the globalists and their minions.

Even with all of these hideous events now hiding in plain sight, I have never called for a revolution against our increasingly illegitimate government, or, should I say against the banksters who have hijacked our Republic, until now. There are so many more heinous acts being committed against the American people that it is difficult to count all the ways that tyranny is being installed in America. Even Ray Charles could see the depth and scope of this all out war which has been declared on all of us.

Our Congress has an all-time low 9% approval rating and as a result, Congress has taken up sides with those who would exterminate most and enslave the remainder of us with the new indefinite detention bill, S. 1867.

Very soon, we will live in an America in which the government can declare peaceful dissent, public criticism, and the failure to comply to globalists’ trickle down tyranny as an act of terror in which YOU are subject to secret arrest, torture and even murder. The dead spirits of Mao, Stalin and Hitler are coalescing in the hall of congress and you are their newest target! These congressional criminals have declared war on you and your families. Many of our countrymen have been given a death sentence, but are sadly oblivious to the new place in history that we all occupy. The finishing touches of the establishment of a tyrannical government are being put into play as I write these words.

Many of you, because of your political and moral advocacy, have a bull’s eye on your back. As with all patterns of tyranny from Stalin to Hitler to Mao, the chess pieces have been laid into place for your final demise. The police state grid is in place as are the FEMA death camps. WWWIIII will soon be upon us. They will be coming for your guns under the coming martial law which will accompany the coming war. As with all tyrannical governments which confiscate guns, they will be coming for you following the disarming of the American people. Read your history! The playbook of the globalists is located in your former 10th grade World History books. This is the unmistakable pattern of tyranny!!!

To those who think that S. 1867 will result in many of us being transported to your neighborhood FEMA camp to await an unknown fate is tin foil hat territory; please consider that KBR, a subsidiary of Halliburton, is in the process of activating the FEMA camps according to a leaked memo. As if America needs anymore proof of the tyranny which lies ahead, perhaps the remaining doubters would like to email Bob Siefert at Bob.siefert@kbr.com the KBR administrator in charge of this action and ask him why the camps are being activated. Thanks to the Alex Jones staff for publicizing this memo.

While in the Soviet Gulag Alexsandr Isayevich Solzhenitsyn and his fellow victims, lamented that they did not mount a resistance when the Secret Police came and dragged people out of their homes and sent them to Siberia. We will soon be faced with the same choice.

Our entire governmental leadership is a self-admitted criminal enterprise system as it lawless; it is devoid of empathy, compassion or has any remaining vestiges of the system of Constitutional fair play which was bequeathed to us by our Founding Fathers.

The 300 or so banksters who have hijacked our government are mentally ill. They are sociopathic serial killers. They (e.g., George Soros, Warren Buffet, David Rockefeller, etc.) destroy economies, ferment violent revolutions and start wars which kill millions. In short, they are the modern day version of the money changers that Jesus chased from the Temple.

To the police and the military that are going to be told to enforce this globalist, tyrannical takeover and subsequent subjugation of America, I ask all of you: Which side of history will you be on? Are you going to mindlessly obey the soon-to-be illegitimate orders emanating from these despots, or, are you going to uphold your sworn oath to protect and defend the Constitution from all enemies, both foreign and domestic? Do you really think that your military retirements and police pensions are going to be waiting for you when your tyrannical deeds are done? Again, Mr. Law enforcement official read your history.



What did Hitler do with the very people who helped him gain control over the German government? The simple answer is that Hitler killed all of them without blinking an eye. If you, as a law enforcement official or member of the military obey these banksters and minions, you better hope that this globalist takeover is successful and complete.

For if the real terrorists on this planet are not successful in gaining absolute control over America, there will be nowhere that you can hide if you commit despotic acts against our fellow Americans. The vengeance of the people of this country will be carried out against all of those who would dare raise an illegitimate hand against the American people in the servitude of these banksters which will begin with trials which will make the Nuremburg Trials look like a traffic court.

As a result of the passage of Senate bill 1867, Ninety three United States Senators have drawn a line in the sand which will result in the bifurcation of America into two distinct camps. There are those who will serve the satanic globalist regime and then there is everybody else. The fundamental question remains for all military and law enforcement personnel, what side are you on and what are the rest of us going to do about it?

“Tis Time to Part” -Thomas Paine

© 2010 Dave Hodges - All Rights Reserved

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Dave Hodges is an award winning psychology, sociology, statistics and research professor, a college basketball coach as well as a former mental health counselor. Dave also serves as the spokesperson to the newly formed national coalition, The American Coalition to Protect Personal Property Rights, which is designed to combat the growing erosion of personal property rights across America.

Often referred to America’s most independent talk show host, Dave Hodges is the host of the nationally syndicated, hard-hitting and exciting investigative radio talk show called “The Common Sense Show.” “The Common Sense Show” airs on the Republic Broadcasting Network every Sunday evening from 9-11pm Central. The show features an array of impressive guests coupled with an in-depth analysis of important personal, social and geopolitical issues which are largely unreported in the mainstream media. The wide variety of show topics ranges from the loss of constitutional liberties, to the subsequent implementation of a police state under world governance, to exploring the limits of human potential. The primary purpose of “The Common Sense Show” is to provide the listening audience with the tools necessary to reclaim both their individual freedoms and national sovereignty.

To learn more about his radio talk show please visit:






BANKS: Obama's Criminal Bankster Donors Are Doing Just Fine! SO THEY HAVE BOUGHT FOUR MORE YEARS OF OBAMAnomics!


AT AN INTERVIEW AT THE WHITE HOUSE, WHEN OBAMA WAS ASKED WHY HE HAD NOT PROSECUTED HIS CRIMINAL BANKSTER DONORS, HE CLAIMED IT WAS THE JOB OF HIS CORRUPT DEPT. OF JUSTICE TO PROSECUTE… WHICH IS WHY THERE WERE NOT PROSECUTIONS. THIS SAME DOJ WAS WORKING HARD TO EXPAND OBAMA’S LA RAZA AGENDA WITH NO ID’s FOR ILLEGALS TO VOTE, LAWSUITS AGAINST FOUR (4) SATES ON BEHALF OF HIS LA RAZA BASE!

THIS IS THE MAN THAT TOLD A LA RAZA CONVENTION THAT “We must fight our enemies (LEGALS)!”

THIS IS THE MAN THAT LIED TO THE NATION FROM THE SENATE FLOOR THAT ILLEGALS WERE NOT INCLUDED IN HIS OBAMACARE!


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OBVIOUSLY WE ALL KNOW WHAT OBAMA’S DONE ABOUT FORECLOSURES. AS IS ALWAYS THE CASE WITH THIS CLOWN, HE WENT LIMP ON THE TOPIC! AS SOON AS HE FOUND OUT HIS BANKSTERS WERE MAKING HUGE PROFITS OFF THE VERY FORECLOSURES THEY CAUSED, HE ASSURE THEM THE PILLAGING WOULD ONLY GET BETTER WITH HIM IN THE WHITE HOUSE!

WELLS FARGO, AS NOTED BELOW, HAD THEIR CALIFORNIA MORTGAGE LICENSE REVOKED IN 2003 FOR CORPORATE CORRUPTION AND MALFEASANCE. THE BANK SIMPLY DECLARED ITSELF ABOVE THE LAW AND WENT ON PILLAGING AN ENTIRE NATION WITH THE SAME EXPLOITIVE AND CROOKED DEVICES THAT HAD PROVEN SO PROFITABLE IN THE PAST!

BOTH WELLS FARGO AND BANK OF AMERICA ARE MAJOR CAUSES OF FORECLOSURE AND THIS NATION’S ECONOMIC MELTDOWN!



“I’M NOT HERE TO PUNISH BANKS!” BARACK OBAMA IN HIS STATE OF THE UNION IN THE FACES OF A NATION RAPED BY BANKSTERS!



OBAMA WILL RANK AS ONE OF THE MOST LIMP AND CORRUPT PRESIDENTS IN HISTORY!

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Obama administration moves to quash state investigations of Wall Street banks

By Andre Damon and Barry Grey
24 August 2011

The Obama administration has intervened to support a settlement by banks charged with fraudulent practices in the processing of home foreclosures that would prevent state governments, New York in particular, from carrying out their own investigations of major Wall Street firms.

The New York Times reported Monday that Shaun Donovan, the US secretary of housing and urban development, together with high-ranking Justice Department personnel, has been “waging an intensifying campaign” to persuade Eric T. Schneiderman, the New York attorney general, to drop his opposition to a settlement of the home foreclosure charges.

Under the proposed settlement, major banks including JP Morgan Chase, Wells Fargo, Citigroup and Bank of America, would pay a combined total of $20 billion, which would supposedly go toward home loan modifications and homeowner counseling. In return, bank executives would be shielded from possible civil suits or criminal prosecutions arising from state probes into their role in fueling the sub-prime mortgage bubble, whose collapse triggered the financial meltdown of September 2008.

Schneiderman’s office has opened several inquiries into banking practices during the mortgage boom of the mid-2000s.

Last year it emerged that banks and mortgage companies forged documents and paid employees with no knowledge of the homes in question to sign legal documents that were then used to process foreclosures.

The amount of the settlement of charges arising from these practices—$20 billion—represents a financial wrist-slap for banks that made multiples of this figure from the creation and sale of securities linked to toxic home loans. These banks have continued to reap huge profits from speculative bets in the midst of a global economic crisis of their own making that has destroyed the jobs and living standards of countless millions in the US and around the world. Nevertheless, the banks have resisted paying even this token sum.

$20 billion will barely make a dent in a foreclosure crisis that has already thrown millions of Americans out of their homes. US homeowners collectively owe the banks $753 billion more than the market value of their homes.

Schneiderman has based his opposition to the deal on provisions barring future litigation against the banks. The Times quoted Danny Kanner, a spokesman for Schneiderman, as saying, “The attorney general remains concerned by any attempt at a global settlement that would shut down ongoing investigations of wrongdoing related to the mortgage crisis.”

Schneiderman is only the most prominent of several state attorneys general, including Catherine Cortez Masto of Nevada and Beau Biden of Delaware, who have refused to support the proposed settlement.

In pressuring Schneiderman to drop his opposition to the deal, the Obama administration claims to be motivated by a desire for a quick resolution that would funnel $20 billion in aid to hard-pressed homeowners. “Our view is we have the immediate opportunity to help a huge number of borrowers to stay in their homes, to help their neighborhoods and the housing market,” Donovan told the Times.

A spokeswoman for the Justice Department echoed this line, telling the newspaper, “The Justice Department, along with our federal agency partners and state attorneys general, are committed to... bring relief swiftly because homeowners continue to suffer more each day that these issues are not resolved.”

This pretense of humanitarian concern for the plight of distressed homeowners is utterly cynical and dishonest. Since the mortgage crisis began more than four years ago, the government, first under Bush and then under Obama, has done virtually nothing to help homeowners stay in their homes.

Under Obama, the major cause of mortgage delinquencies and defaults has shifted from predatory loan practices to the impact of prolonged unemployment. But the administration has refused to take any serious steps to halt foreclosures in deference to the banks, which fiercely oppose any measures that would negatively impact their balance sheets or profits.

The White House would have the public believe it a mere coincidence that its newfound urgency in regard to the foreclosure crisis coincides with a campaign by the banks to block legal action against them.

Executives of the major banks are meeting with law enforcement officials Thursday, the Financial Times reported, to continue negotiations over the settlement, which the newspaper said remains several weeks from completion. Representatives of Citigroup, JP Morgan Chase, Wells Fargo and Bank of America have remained in “frequent dialog” with state attorneys general and prosecutors, the newspaper said.

The Times article noted that Schneiderman has also come under criticism from the Obama administration for suing to block a separate deal reached earlier this year that would settle civil actions filed by 22 institutional investors against Bank of America. Investors, including the Federal Reserve Bank of New York, the giant asset managing firm BlackRock, and Pimco, the world’s largest bond fund, sued Bank of American over 530 mortgage-backed securities which the claimants say were sold on the basis of false information.

The deal, brokered by Bank of New York Mellon, would require Bank of America to pay $8.5 billion to the investors holding these securities. Schneiderman intervened to block the settlement on the grounds that the $8.5 billion represents a mere fraction of investors’ losses and that the deal was worked out behind the backs of many holders of the securities.

The Times article reports a recent public altercation between Schneiderman and Kathryn S. Wylde, the chief executive of the Partnership for New York City and a member of the board of the Federal Reserve Bank of New York, which supports the settlement. Speaking to the newspaper about her argument with the attorney general, Wylde gives voice to the attitude of subservience to Wall Street that characterizes the Obama administration and the political establishment as a whole.

“Wall Street is our Main Street—love ‘em or hate ‘em,” she tells the Times. “They are important and we have to make sure we are doing everything we can to support them unless they are doing something indefensible.”

Evidently, the threshold in official circles for what is “indefensible” is infinitely high when it comes to Wall Street. Under Obama, the federal government has failed to file a single criminal charge against a high-level banker or even bring a civil case to trial in connection with the fraud and lawlessness that pervaded the dealings of the banks during the sub-prime mortgage boom and its catastrophic aftermath.

This is not for lack of evidence. Last April, the Senate Permanent Subcommittee on Investigations released a 650-page report on the financial crisis that provided a detailed factual account of banking fraud as well as the collusion of federal regulatory agencies and the credit rating firms. The report concluded with a list of federal securities statutes that it suggested had been violated by major Wall Street firms.

The Obama administration has ignored this report as part of its efforts to shield the financial elite from being held to account for its actions.

Now, having blocked any federal prosecution of senior bank officials, the administration is intervening to quash investigations at the state level. Nothing could more clearly demonstrate its role as a tool of the US financial oligarchy.

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OBAMA DEMANDS HIS BANKSTER DONORS BE ABOVE LAW




An initial term sheet outlining a possible settlement emerged in March, with institutions including Bank of America, Citigroup, JPMorgan Chase and Wells Fargo being asked to pay about $20 billion that would go toward loan modifications and possibly counseling for homeowners.

In exchange, the attorneys general participating in the deal would have agreed to sign broad releases preventing them from bringing further litigation on matters relating to the improper bank practices.

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OBAMA AND HIS WALL ST CABINET

OBAMA’S CRONY CAPITALISM, A LOVE STORY BETWEEN THE ACTOR PRESIDENT, AND HIS BANKSTER DONORS!



Records show that four out of Obama's top five contributors are employees of financial industry giants - Goldman Sachs ($571,330), UBS AG ($364,806), JPMorgan Chase ($362,207) and Citigroup ($358,054).




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Obama’s Economic Advisers: International Socialists, Union Thugs, NBC Execs, Soros Scholars, Subprime Lenders, Amnesty Shills, and Campaign Cronies




Posted on February 24, 2011 by Ben Johnson




http://mexicanoccupation.blogspot.com/2011/08/barack-obama-one-of-greatest-tragedies.html



As part of the bank bailout, the Treasury Department was given $46 billion to spend on keeping homeowners in their houses; to date, the agency has spent about $1.85 billion.

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They also say programs to curb foreclosure are voluntary, so they are limited in how far they can push mortgage servicers and investors, who often make more from foreclosures than from offering aid.

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NEW YORK TIMES

June 4, 2011

For the Jobless, Little U.S. Help on Foreclosure


The Obama administration’s main program to keep distressed homeowners from falling into foreclosure has been aimed at those who took out subprime loans or other risky mortgages during the heady days of the housing boom. But these days, the primary cause of foreclosures is unemployment.

As a result, there is a mismatch between the homeowner program’s design and the country’s economic realities — and a new round of finger-pointing about how best to fix it.

The administration’s housing effort does include programs to help unemployed homeowners, but they have been plagued by delays, dubious benefits and abysmal participation. For example, a Treasury Department effort started in early 2010 allows the jobless to postpone mortgage payments for three months, but the average length of unemployment is now nine months. As of March 31, there were only 7,397 participants.

“So far, I think the public record will show that programs to help unemployed homeowners have not been very successful,” said Jeffrey C. Fuhrer, an executive vice president of the Federal Reserve Bank of Boston.

Data released last week suggests that the administration’s task is only growing more difficult as the problems created by unemployment and housing persist. New job growth in May was anemic, and unemployment inched up to 9.1 percent, the Labor Department reported Friday.

Earlier in the week, a widely watched index found that housing prices had dropped to their lowest level in nearly a decade. And while the rate of homes falling into foreclosure has slowed, the reason is delays in processing foreclosures, not a housing recovery, according to RealtyTrac, a company that tracks foreclosures. There were 219,258 foreclosure filings in April, the latest month available.

Critics of the Obama administration’s approach to preventing foreclosures have pressed for two years to get officials to focus more of their attention on unemployed homeowners, with meager results. As part of the bank bailout, the Treasury Department was given $46 billion to spend on keeping homeowners in their houses; to date, the agency has spent about $1.85 billion.

Morris A. Davis, a former Federal Reserve economist, estimates that as many as a million homeowners slipped into foreclosure because of insufficient help for the unemployed.

“The money was there and they didn’t spend it,” said Mr. Davis, an associate real estate professor at the University of Wisconsin. “I don’t mean to sound outraged, but I am pretty outraged.”

Administration officials said their programs have had a positive impact, albeit not as large as they had hoped. But they say that the problems of unemployment and negative equity on homes are not easily solved. They also say programs to curb foreclosure are voluntary, so they are limited in how far they can push mortgage servicers and investors, who often make more from foreclosures than from offering aid.

“We are trying to be careful in designing programs that at the end of the day aren’t just about spending money but getting people back on their feet,” said James Parrott, a senior adviser at the White House’s National Economic Council.

President Obama has been scrambling to curb the number of foreclosures ever since he arrived at the White House.

At the start of 2009, the administration announced its primary foreclosure prevention initiative, the Home Affordable Modification Program. It provides incentives to banks to modify mortgages, reducing monthly payments for eligible homeowners.

The administration said the program would help three million to four million homeowners, but so far, only 670,000 homeowners have received permanent modifications. In addition, the program was primarily meant for homeowners with risky mortgages; jobless owners are often ineligible because some payment, albeit reduced, is required.

Administration officials said the program was helping homeowners whose income had been reduced. Sixty-one percent of homeowners who received permanent modifications listed “curtailment of income” as their reason for applying, though it is not known how many of them are unemployed or simply had their hours or pay reduced.

The Department of Housing and Urban Development received $1 billion as part of the financial regulatory reforms that passed last year to help unemployed homeowners. That money will be used to provide government loans to unemployed homeowners for up to 24 months.

Though the program was announced last fall, so far applications are being accepted in only five states; the others are delayed because of “implementation challenges,” a HUD spokeswoman said.

Critics do acknowledge one bright spot — the Hardest Hit Fund, a federal program that will provide $7.6 billion so that some states can administer their own programs for struggling homeowners. Of that, 70 percent will be directed to unemployed homeowners, said Andrea Risotto, a Treasury spokeswoman.

So far, $455 million has been spent. Over the last several years, academics, housing groups and government economists offered proposals to Treasury officials to help the unemployed avoid foreclosure.

One, which Mr. Fuhrer of the Boston Fed helped write, called on the government to provide loans, or grants, to unemployed or underemployed homeowners to make up for the amount of income they lost. The loan would have to be repaid once the homeowner found a new job.

Another proposal, by a non-profit group called the PICO National Network, a coalition of faith-based community organizations, would have allowed unemployed homeowners to postpone much or all of their mortgage payments for a year or more.

But administration officials have balked, arguing that regulators and “other industry stakeholders expressed strong reservations” about allowing unemployed homeowners to extend payments for longer terms, according to a Dec. 23 letter that Treasury Secretary Timothy F. Geithner sent to Representative Barney Frank, Democrat of Massachusetts, who had pressed for measures that would more directly aid the unemployed.

The debate is playing out on the sidelines of partisan Washington politics, since Republican lawmakers have made clear they would like to get rid of anti-foreclosure programs altogether, and would block any new programs. Instead, it is setting homeowner advocates against administration officials over how to spend money already appropriated.

Administration officials maintain that the decision on whether to offer mortgage relief to homeowners ultimately was up to mortgage servicers and investors, not the government, which can provide incentives but not compel action.

“We as an administration have limited levers,” Mr. Parrot said. “We can push them on the margins.”

But Lewis Finfer, a PICO organizer, said he could not understand why the administration had not been more receptive given the extent of unemployment.

“We have a program to deal with this,” he said.

Many unemployed or underemployed homeowners said they would welcome an extended break in mortgage payments.

Mary Ernest, 51, of Blackstone, Mass., lost her job as a school aide and said she had been “reduced to begging, more or less,” to keep her home. Adam Heyman, 41, of Chelsea, Mass., scraped together enough money to pay the mortgage on his condominium for about 18 months. Though he finally got another full-time job, his bank had already foreclosed on his condo.

“If I had a way to slow down the process or stop it for a while, that would have been nice,” Mr. Heyman said, adding, “Now I can certainly afford to pay.”

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OBAMA’S BANKSTER DONORS DOIN’ GOOD! PROFITS UP! FORECLOSURES UP! BANK NO REGULATION GUARANTEED! BAILOUTS FOR BUYOUTS…. And not a single bankster donor in prison!



WHAT DID THE BANKSTERS KNOW ABOUT OUR ACTOR OBAMA THAT WE DIDN’T KNOW?

Records show that four out of Obama's top five contributors are employees of financial industry giants - Goldman Sachs ($571,330), UBS AG ($364,806), JPMorgan Chase ($362,207) and Citigroup ($358,054).

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“Obama's rhetoric covered the whole financial industry, but the key changes will affect only a few high-profile players, including JPMorgan Chase & Co., while sparing investment banks like Goldman Sachs Group Inc.”

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Lou Dobbs Tonight

Thursday, July 9, 2009

And Harvard economics professor JEFFREY MIRON will weigh in on the state of the U.S. economy—and why the only plausible argument for bailing out banks crumbles on close examination.

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"There is a populist and conservative revolt against Wall Street and financial elites, Congress and government," Democratic pollster Stanley Greenberg warned in an analysis this week. "Democrats and President Obama are seen as more interested in bailing out Wall Street than helping Main Street."

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August 21, 2010   

 Janet Tavakoli.President, Tavakoli Structured Finance

August 15, 2010  
How to Thwart the Assassins of the American Dream

Arianna Huffington's new book, Third World America: How Our Politicians are Abandoning the Middle Class and Betraying the American Dream, paints a grim picture of the State of the Union:

"Every day, Americans, faced with layoffs and tough economic times, are forced to use their credit cards to pay for essentials such as food, housing, and medical care -- the costs of which continue to escalate. But, as their debt rises, they find it harder to keep up with their payments. When they don't, banks, trying to offset losses in other areas, turn around, hike interest rates, and impose all manner of fees and penalties..."