Wednesday, March 6, 2013

OBAMA and WALL STREET - THEIR LOOTING IS LOOKING EVEN BETTER SECOND TERM


THE WAY OUR GOVERNMENT AVOID THE BELOW IS WITH OBAMA’S OPEN AND UNDEFENDED BORDERS TO PERMIT HORDES OF ILLEGALS TO JUMP OUR BORDERS AND JOBS… then the American middle class gets the tax bills for the staggering cost of Mexico’s looting.

There are ample resources to guarantee every worker and young person a job at decent pay, a high quality education, decent housing and nutrition, access to culture, and a secure retirement—the basic social rights which every person should enjoy. 
OBAMA AND HIS CRIMINAL BANKSTERS... THE LOOTING ONLY GETS BETTER!

The stock market bonanza
6 March 2013

Tuesday, four days after President Barack Obama signed the budget sequestration order unleashing brutal cuts in social programs, there was general jubilation in the media as the Dow Jones Industrial Average crashed through its previous high, dating from 2007.

The intervening period has been an unmitigated disaster for the vast bulk of humanity, including the broad mass of working people in the United States. The signs of social decay and suffering are everywhere. Unemployment remains at near-Depression levels. Poverty, hunger and homelessness continue to rise. Those workers with a job are working harder and longer than ever for lower wages and fewer benefits. The buying power of the wages of newly hired autoworkers is at or below the levels that prevailed in the 1930s.

Thousands of schools have been closed, hundreds of thousands of teachers laid off, and the public education system gutted to make way for for-profit charter schools.

Detroit, once a thriving metropolis and center of the world auto industry, has been turned into an impoverished and desolate city whose inhabitants face Third World conditions. It is about to be placed under a bankers’ dictatorship and very likely thrown into bankruptcy.

On Tuesday, as the New York Stock Exchange was hitting new heights, New York’s Coalition for the Homeless was reporting a different record. In January, an average of more than 50,000 people slept each night at a homeless shelter in the city, including over 21,000 children--more than 1 percent of the city’s youth.

Now the US government, with the sequester cuts as the down payment, is preparing to dismantle the core social programs remaining from the reforms of the 1930s and 1960s—Medicare, Medicaid and Social Security.

This social counterrevolution was inaugurated by the Wall Street crash of September 2008—the result of financial fraud and criminality on a colossal scale. Yet, amidst the still steaming rubble of the social tsunami they unleashed, the lords of finance are today able to celebrate their biggest heist ever. IF YOU’RE NOT CONNECTED TO CRIMINAL BANKSTERS, YOU HAVE TO BE A MEMBER OF THE MEXICAN FASCIST PARTY of LA RAZA TO BE IN OBAMA’S CORRUPT ADMIN!

How is this to be explained?

The media offers no explanation. The network commentators, in line with their six- and seven-figure salaries and their bulging portfolios, hail the new record on the stock market as though it were a national achievement. Rejoice, one and all!

In reality, the record highs on Wall Street are a measure of the scale of the theft of social resources carried out since the financial crash by the very parasites who were responsible for the collapse.

The obscene profits that are being made by the corporations and banks, the gargantuan pay packages that the CEOs are awarding themselves, the shameless fortunes that are being made through the manipulation of financial assets—in the midst of mass unemployment and austerity—none of this is seriously raised or questioned. The obvious contradiction between the official claims of “no money” for social needs and the vast sums sloshing around Wall Street is not even hinted at.

“I’m not here to punish banks!” Barack Obama – State of the Union

It is a fact that not a single leading banker or hedge fund speculator has been criminally prosecuted, let alone jailed, for crimes that have caused a level of misery, destruction and death that is incalculable. Instead, the Obama administration, both political parties and the entire panoply of official institutions—including the trade unions—have made it their business to ensure that every dollar lost by the financial aristocracy in the crash was paid back many times over.

Paid back by whom? By the working class in the US and the world, through the greatest assault on its living standards in history.

The latest surge in the stock market—which has soared almost without a hitch since the start of the year—is bound up with the fact that those in the know had been assured the White House and Congress would push through the sequester cuts. As a leading Bank of America executive told the New York Times this week, “The market wants more austerity.”

BANK of AMERICA IS A MAJOR CONTRIBUTOR TO THE MEXICAN FASCIST PARTY of LA RAZA. ALONG WITH WELLS FARGO, THIS BANK HAS BEEN IMPLICATED IN MONEY LAUNDERING FOR THE MEXICAN DRUG CARTELS. THESE BANKS MAKE TRANSACTIONS USING PHONY MEXICAN MATRICULATION CARDS, WHICH IF USED BY A LEGAL, WOULD GET THE PERSON LAUGHED OUT OF THE BANK. IN MOST BRANCHES, THESE BANKS DO NOT HIRE AMERICANS (LEGALS), ONLY THIRD WORLDERS FROM CHINA, INDIA OR RUSSIAN.

More broadly, since day one of the crisis the government has provided the banks with unlimited funds. Besides the trillions in cash injections, virtually interest-free loans and credit guarantees handed out by the Bush and Obama administrations and the Federal Reserve in the immediate aftermath of the September 2008 crash, the Fed has pumped trillions more into the financial markets through the dollar-printing operation knows as “quantitative easing.” This is currently running at $85 billion a month, or over $1 trillion a year—enough to cover the current budget deficit of the federal government.

Notwithstanding the pious disavowals of the Fed, it is financing the biggest financial bubble in history—with stocks, bonds and other financial assets at vastly inflated prices. With the White House and Congress refusing to impose any real bank reforms, the Fed has a green light to underwrite the same types of frenzied speculation that triggered the last financial meltdown, but on an even more vast scale.

The conditions are being created for another, more disastrous crash, but the financial plutocrats continue to plunder the country secure in the knowledge that they will, once again, be bailed out.

The events of 2008 definitively exposed the complete subordination of the government to the financial aristocracy. The developments since then have only confirmed this fact.

The record highs on Wall Street underscore the irreconcilable antagonism between the social needs of the people and the existing economic and political system. There are ample resources to guarantee every worker and young person a job at decent pay, a high quality education, decent housing and nutrition, access to culture, and a secure retirement—the basic social rights which every person should enjoy.

But they cannot be secured except through the mass struggle of the working class. The ill-gotten fortunes of the financial parasites must be expropriated and used to provide jobs, schools and housing. A revolutionary struggle is required to break the stranglehold of the financial oligarchy over the productive forces and place them under the democratic control of working people—that is, a struggle for socialism.

Barry Grey

*
 
“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).”
*

Obamanomics: How Barack Obama Is Bankrupting You and Enriching His Wall Street Friends, Corporate Lobbyists, and Union Bosses

 

BY TIMOTHY P CARNEY

Editorial Reviews

Obama Is Making You Poorer—But Who’s Getting Rich?

Goldman Sachs, GE, Pfizer, the United Auto Workers—the same “special interests” Barack Obama was supposed to chase from the temple—are profiting handsomely from Obama’s Big Government policies that crush taxpayers, small businesses, and consumers. In Obamanomics, investigative reporter Timothy P. Carney digs up the dirt the mainstream media ignores and the White House wishes you wouldn’t see. Rather than Hope and Change, Obama is delivering corporate socialism to America, all while claiming he’s battling corporate America. It’s corporate welfare and regulatory robbery—it’s Obamanomics.

Congressman Ron Paul says, “Every libertarian and free-market conservative needs to read Obamanomics.” And Johan Goldberg, columnist and bestselling author says, “Obamanomics is conservative muckraking at its best and an indispensable field guide to the Obama years.”

If you’ve wondered what’s happening to America, as the federal government swallows up the financial sector, the auto industry, and healthcare, and enacts deficit exploding “stimulus packages,” this book makes it all clear—it’s a big scam. Ultimately, Obamanomics boils down to this: every time government gets bigger, somebody’s getting rich, and those somebodies are friends of Barack. This book names the names—and it will make your blood boil.
Obama Is Making You Poorer—But Who’s Getting Rich?

Goldman Sachs, GE, Pfizer, the United Auto Workers—the same “special interests” Barack Obama was supposed to chase from the temple—are profiting handsomely from Obama’s Big Government policies that crush taxpayers, small businesses, and consumers.

Investigative reporter Timothy P. Carney digs up the dirt the mainstream media ignores and the White House wishes you wouldn’t see. Rather than Hope and Change, Obama is delivering corporate socialism to America, all while claiming he’s battling corporate America. It’s corporate welfare and regulatory robbery—it’s Obamanomics. In this explosive book, Carney reveals:

* The Great Health Care Scam—Obama’s backroom deals with drug companies spell corporate profits and more government control
* The Global Warming Hoax—Obama has bought off industries with a pork-filled bill that will drain your wallet for Al Gore’s agenda
* Obama and Wall Street—“Change” means more bailouts and a heavy Goldman Sachs presence in the West Wing (including Rahm Emanuel) * Stimulating K Street—The largest spending bill in history gave pork to the well-connected and created a feeding frenzy for lobbyists
* How the GOP needs to change its tune—drastically—to battle Obamanomics

If you’ve wondered what’s happening to our country, as the federal government swallows up the financial sector, the auto industry, and healthcare, and enacts deficit exploding “stimulus packages” that create make-work government jobs, this book makes it all clear—it’s a big scam. Ultimately, Obamanomics boils down to this: every time government gets bigger, somebody’s getting rich, and those somebodies are friends of Barack. This book names the names—and it will make your blood boil.

*
Praise for Obamanomics

“The notion that ‘big business’ is on the side of the free market is one of progressivism’s most valuable myths. It allows them to demonize corporations by day and get in bed with them by night. Obamanomics is conservative muckraking at its best. It reveals how President Obama is exploiting the big business mythology to undermine the free market and stick it to entrepreneurs, taxpayers, and consumers. It’s an indispensable field guide to the Obama years.”
—Jonha Goldberg, LA Times columnist and best-selling author

“‘Every time government gets bigger, somebody’s getting rich.’ With this astute observation, Tim Carney begins his task of laying bare the Obama administration’s corporatist governing strategy, hidden behind the president’s populist veneer. This meticulously researched book is a must-read for anyone who wants to understand how Washington really works.”
—David Freddoso, best-selling author of The Case Against Barack Obama

“Every libertarian and free-market conservative who still believes that large corporations are trusted allies in the battle for economic liberty needs to read this book, as does every well-meaning liberal who believes that expansions of the welfare-regulatory state are done to benefit the common people.”
—Congressman Ron Paul

“It’s understandable for critics to condemn President Obama for his ‘socialism.’ But as Tim Carney shows, the real situation is at once more subtle and more sinister. Obamanomics favors big business while disproportionately punishing everyone else. So-called progressives are too clueless to notice, as usual, which is why we have Tim Carney and this book.”
—Thomas E. Woods, Jr., best-selling author of Meltdown and The Politically Incorrect Guideto American History

·         ISBN-10: 1596986123

·         ISBN-13: 978-1596986121


THE INSTINCT FOR LOOTING AND THE OBAMA’S
The Obamas’ new home has received a lot of attention in the corporate media and on the blogs. This post will discuss other perspectives.

Hyde Park, where the Obamas have lived since 1994, is home to the University of Chicago (UC) Law School and at least one of UC’s hospitals. Leo Struass taught in the university’s Committee on Social Thought. The Federalist Society was born at UC, and it is the alma mater of many Neo Cons, including Supreme Court Justice Antonin Scalia.

Kenwood, where the Obamas’ new home sits, is a small neighborhood, only 1.09 miles in area. It is bound on the south by Hyde Park, on the north by North Kenwood, and on the west by the neighborhood of Highland. Kenwood was once one of the most elite neighborhoods in all of Chicago.

This map shows the juxtaposition of the Hyde Park and Kenwood neighborhoods:

The Obamas had decided that politics was Barack’s ultimate future while still dating. In 1991, then Michelle Robinson, who was then Obama’s fiancée, left her job at the law firm of Sidley Austin Brown & Wood. She went to work for the city of Chicago, first as an assistant to Mayor Daley, then as the Executive Director of Public Allies Chicago, a nonprofit that provides leadership training to young adults interested in public service careers.

In 1996, she left the Public Allies to help create a student volunteer program at The University of Chicago. By the time of this interview, she was the Executive Director of Community Affairs for The University of Chicago Hospitals. This is how Michelle portrays her change of career:

She was devastated when her father died from MS complications. “That’s when I started analyzing my life, sitting in a firm,” she recalls, adding that in that same year she also lost one of her best friends from college to cancer. She soon left the firm to pursue a much lower-paying path in the public sector.

The fact is Michelle was actively recruited for City Hall by a close friend, Valerie Jarrett, who was Mayor Daley’s Deputy Chief of Staff at that time. Valerie later became the Finance Chair of Obama’s 2004 US Senate campaign and then First Treasurer of Barack’s political action committee, Hopefund.

It helps to have friends at City Hall. Among other positions, Michelle was appointed twice to sit on the board of the Commission of Chicago Landmarks for two consecutive terms. Michelle maintained this board seat from 1998 to March 2005, although normally a member only serves one 4 year term.

Flush from the success of Barack’s speech at the 2004 Democratic National Convention, the Obamas decided it was time to find a residence more fitting for their anticipated new status. Barack’s 1995 autobiography Dreams of My Father soared, and they knew Alan Keyes was no threat to their future success in the US Senate elections.

Sitting on the Commission of Chicago Landmarks board, Michelle knew of a permit, waiting for review and approval to sell, for a designated Historical Georgian revival home built in 1910 with four fireplaces, glass-door bookcases fashioned from Honduran mahogany, and a 1,000-bottle wine cellar owned by a doctor in Kenwood. The Commission is supported not only by donations and taxes but also by charges for permits. It’s a pretty extensive process, and they want a complete history of the house and property when a permit is requested. Once the Board approves a permit, the application goes to the city planning or zoning commission if more than a simple sale is involved.

The doctor who owned the Kenwood home wanted more than the Obamas could afford. As Barack has stated in numerous press interviews, buying the home would be a stretch. Barack contacted his patron Tony Rezko, despite knowing he was under investigation at the time, in order to see what could be done so the Obamas could afford their dream house. Sub-division was likely the agreed-on solution. In order to divide the lot, which the doctor purchased as one entity, he would have to:

– Hire an approved architect and general contractor, who had been involved in renovations and sub-divisions in Kenwood previously

– Have the lots surveyed and new plot plans drawn

– Re-start the Landmark Commission permit approval process

– Hold a public hearing (required).

On page 51 of the Commission on Landmarks Ordinances, one finds a justification for the doctor agreeing to subdividing the land.

The applicant bears the burden of proof that the existing use of the property is economically infeasible and that the sale, rental or rehabilitation of the property is not possible, resulting the property not being capable of earning any reasonable economic return.

Pages 51 and 52 of the Landmark ordinances show how many proofs and other forms of extensive documentation are required in order to subdivide the land. Can any rational person believe the doctor would have been willing to go along with having his property sub-divided, and all the work and time involved, without compensation and assistance? Who paid for this?

With Michelle sitting on the Landmarks board, Commission approval wasn’t expected to be an issue, even though I have not located notice of the Public Hearing from any of the involved boards. From there it would go to the City Planning Board and the Zoning Boards, which also require public hearings. Each of these steps average between 6 weeks and 3 months to complete.

The doctor’s property was located in what Chicago Zoning Terms refer to as Residential Single zone 1, or RS1. This means the house the Obamas bought required 6,250 sq. ft of area. Even if it had the designation lowered to RS2, it still would have required 5,000 square feet, as seen on page 5 of Chicago’s zoning ordinances. Starting on page 8, the ordinances specify setbacks and how much space must be available on each side of a building. The open space on the building’s sides normally conform to Fire Regulations, so that equipment can access all portions of a building during crises.

Public Records at the Chicago Commission on Landmarks, the Chicago Planning Department and Chicago Zoning Boards would show the exact dates of permits, hearings and approvals. Michelle was so confident she listed the Obamas’ condo, which was located on the first floor of a Hyde Park Brownstone. In October 2004, Michelle expressed surprise to a Chicago interviewer that the Condo had sold so quickly, which meant they either had to put off a closing date or write in a lease agreement for a specified amount of time in their Condo purchase contract.

2004 was a year flush with success for the Obamas: the autobiographical book sales increased; the DNC speech had been well received; Obama won his US Senate seat; and Michelle received a recent promotion to a $316,962-a-year position as Vice President at The University of Chicago Hospitals. Their income was over 1.67 million dollars, with anticipation of even greater gains ahead.

All that needed to be done, in the name of the doctor, on the Kenwood property was completed by March 2005, and the house was finally listed. Michelle Obama resigned her seat on the Chicago Commission on Landmarks at the same time. Barack and Michelle closed on their new home in June of 2005, for $1.65 million dollars, $300,000 less than the asking price, and most likely using the proceeds of their Condo for a down payment, while taking out a mortgage for $1.32 million from Northern Trust. Tony Rezko’s wife purchased the newly divided sub-plot for the full price of $625,000 and closed on the same day.

The City of Chicago requires parking permits, or people must rent space at parking garages for around $30 per diem. There is no overnight on-street parking. The Obamas had no yard to park on, and most likely parked on Rezko’s property.

Within in a month of purchasing their new home, the Obamas began the same process the doctor previously went through. Because Tony Rezko was being indicted, they needed to be distanced from him. So the Obamas hired a lawyer and an architect. Additionally, the Obama’s wanted to put up a fence separating the two properties. On page 21 of the Landmark Ordinances above, it states fences for Historic homes can be no more than 5’ high and must not be visible from the street. If the Obamas had purchased a prefab chain, picket or wooden fence, they would have lost the Historic designation and also the eight-year property tax freeze benefit accrued by agreeing to keep the house in conformance with Landmark regulations.

A picture of the front view of Obamas’ house reveals landmark and zoning requirements.

The concrete wall and evergreens were most likely done after the city appropriated land for sidewalks, and the paving of what has been noted as a wide and busy thoroughfare. If you notice, the trees were planted one to two feet behind the concrete wall, most probably a result of zoning constraints.

The new fence was specially fabricated to conform to historic standards, and the $14,000 cost was billed to Rezko per agreement by Obama and Rezko. Obama states he paid for the architect and Lawyer. Strangely enough the fence actually sits ON the property line between the two lots. Obama agreed to yard maintenance for both properties. And given Obama’s history with the Harvard Law Review and his limited known court experience from public records, Obama most likely either edited or personally wrote the legal documents for his sub-division and the fence. On January 12, 2006, the Obamas closed on the 1/6th of Rita Rezko’s property they purchased for $104,500.

Facts not specifically cited above, and much more, can be found in this Chicago Tribune article.

In all likelihood the driveway was previously on Rezko land. Behind the house is most likely an old carriage house converted into a garage. Parking on the street in that type of neighborhood is prohibited by zoning and fire safety laws, unless someone in authority had been previously notified of a large gathering.

One other event of note occurred in 2005. Daniel Mahru, Rezko’s partner in Rezmar for 16 years until the two men had, according to Mahru, “a difference of opinion,” resigned from Rezmar, Rezko’s slum landlord operation. Did Mahru leave because he knew any shady deals while Rezko was being investigated would lead to disaster?

There were lots of people involved in the purchase of the Obamas’ house, and they would all be owed some kind of consideration for their help and support. Obama’s favors from Rezko amount to $925,000, plus an additional $14,000 for the fence, bringing the total cash value to just one person to $939,000.

Will Rezko sit quietly in jail or will he bring Mayor Daley, Governor Blagojevich and Senator Obama down with him?

How will Obama repay the “favors” he owes all these people?

I am sure Patrick Fitzgerald will reveal all these connections and much more in Rezko’s upcoming trial at the end of this month.

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OBAMA and his CRIMINAL BANKSTERS – THERE IS A REASON WHY THE BANKSTERS INVESTED SO HEAVILY IN BARACK OBAMA, ONE OF THE MOST CORRUPT PRESIDENTS IN AMERICAN HISTORY.

NO PRESIDENT IN HISTORY TOOK SO MUCH DIRTY MONEY FROM BANKSTERS THAN BARACK OBAMA. DURING HIS FIRST TWO YEARS THE BANKS LOOTED MORE PROFITS THAN ALL EIGHT UNDER BUSH!

“I’m not here to punish banks!” Barack Obama – Floor of the Senate – STATE of the UNION MESSAGE.

“Gretchen Morgenson, in a New York Times op-ed entitled “Surprise, Surprise: The Banks Win,” wrote: “If you were hoping that things might be different in 2013—you know, that bankers would be held responsible for bad behavior or that the government might actually assist troubled homeowners—you can forget it.”

“In concluding the pittance of a settlement, a fraction of the billions taken in by the banks from the sub-prime mortgage racket, the Obama administration is once again letting the banks get away with massive crimes that have had devastating social consequences, while giving them a green light to continue similar practices.”

Another sweetheart bank settlement on mortgage fraud

By Andre Damon
9 January 2013

Ten major financial firms agreed on Monday to pay $3.3 billion in cash to settle allegations of mortgage fraud by the Office of the Comptroller of the Currency (OCC) in the latest in a string of sweetheart settlements between the major Wall Street banks and their nominal regulators. As usual, there were no criminal charges and no bank officials were held accountable.

The settlement, which nominally totals $8.5 billion, includes $3.3 billion in direct payments to borrowers and $5.2 billion in loan modifications and other forms of “borrower assistance” left largely at the discretion of the banks.

The settlement with the OCC, a branch of the Treasury Department, relates to widespread fraud committed by the banks in their rush to foreclose on as many homes as possible in 2009 and 2010. To expedite the foreclosure process, the banks had employees or contractors sign off on thousands of mortgage documents every month, swearing that they had intimate knowledge of their contents when in reality they had not even read them.

In many cases, banks illegally imposed fees on targeted homeowners or failed to inform them of their rights.

In concluding the pittance of a settlement, a fraction of the billions taken in by the banks from the sub-prime mortgage racket, the Obama administration is once again letting the banks get away with massive crimes that have had devastating social consequences, while giving them a green light to continue similar practices.

In all the scandals relating to the banks’ criminality in the run-up to and aftermath of the 2008 financial crisis, the government has deliberately avoided bringing cases to trial. This is not only to protect the banks’ activities from further public scrutiny, but also to cover up regulators’ complicity in facilitating the banks’ illegal activities.

The number of households that will get a share of the $3.3 billion in payouts, averaging $868 for each of the 3.8 million borrowers whose homes were in foreclosure in 2009 and 2010, has not been disclosed. Under previous guidelines issued by the federal government, homeowners who were put in foreclosure but were not really in default would theoretically receive $15,000 and a reversal of the foreclosure, or $125,000 if a reversal was not possible. The actual amounts that are ultimately paid out could be far lower.

The settlement puts to an end the “Independent Foreclosure Review” imposed as a regulatory action by the OCC on fourteen banks in April 2011. Under the program, banks paid contractors to examine each claim of improper foreclosure. The cost to the banks had reached $1.5 billion when the government agreed to end the investigation.

With the new settlement, the banks themselves are left to determine where abuses took place, with only a handful of cases to be examined by regulators.

Comptroller of the Currency Thomas Curry sought in a press conference Monday to present the settlement as a means of getting money to consumers as soon as possible. “When we began the Independent Foreclosure Review, the OCC pledged to fix what was broken, identify who was harmed, and compensate them for that injury,” Curry said. “While today’s announcement represents a significant change in direction,” he continued, “it meets those original objectives by ensuring that consumers are the ones who will benefit.”

The settlement prompted an outpouring of denunciations from consumer advocates and even some media commentators. “The regulators have decided to replace the fox in the henhouse with the wolf,” commented John Taylor, head of the National Community Reinvestment Coalition, a community development nonprofit. “It is just incomprehensible to me that they could not find a third party that has the wherewithal and independence to fairly determine what the damage is to homeowners.”

Gretchen Morgenson, in a New York Times op-ed entitled “Surprise, Surprise: The Banks Win,” wrote: “If you were hoping that things might be different in 2013—you know, that bankers would be held responsible for bad behavior or that the government might actually assist troubled homeowners—you can forget it.”

The settlement includes Bank of America, Citigroup, JPMorgan Chase, Wells Fargo, MetLife Bank, PNC, Sovereign, SunTrust, US Bank and Aurora. Four other banks that were included in the investigation refused to take part in the settlement.

The settlement by the OCC is of a piece with the agreement announced last February between 49 state governments and five top Wall Street banks over similar types of mortgage fraud. In last year’s settlement, the federal government put pressure on state attorneys general to wind down their investigation into criminal abuses by the banks, leaving them to pay only $5 billion in payouts and a largely meaningless $17 billion in mortgage modifications.

Under the de facto protection of the government agencies that are supposed to police them, the banks are allowed to violate securities and other laws knowing that they can treat any fines that may eventually be imposed as part of the cost of doing business.

The same applies to the settlement also announced Monday between Bank of America and the government-sponsored mortgage finance giant Fannie Mae, in which the bank will pay $3.55 billion to Fannie and buy back 30,000 low-performing mortgages for $6.75 billion.

The settlement covers allegations that Countrywide Financial, bought by Bank of America in 2008, knowingly sold Fannie Mae toxic mortgages that produced billions of dollars of losses. The loans were made between 2000 and 2008 and were originally valued at $1.4 trillion. The collapse of these assets triggered a $116 billion government bailout of Fannie and helped precipitate the financial crisis that led to the loss of millions of jobs.

The deal follows a similar 2010 agreement in which Bank of America repurchased $2.87 billion of bad loans from Fannie’s fellow government-backed mortgage company, Freddie Mac.

More than four years after the financial crash of September 2008, not a single top Wall Street executive has been criminally prosecuted.

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Go to http://www.MEXICANOCCUPATION.blogspot.com and read articles and comments from other Americans on what they’ve witnessed in their communities around the country. While most of the population of California is now ILLEGAL, the problems, costs, assault to our culture by Mexico is EVERYWHERE. copy and pass it to your friends.


Newsmax

Immigration Bias in the News Media

Friday, February 8, 2013 03:15 PM

By: James Walsh

Print and Internet news readers, at least those capable of discerning preconceived bias, are dealt a daily bofetada (slap in the face) by the liberal news media.

In contrast, the undiscerning electorate is putty in the hands of those who cite polls based upon loaded questions that elicit a desired answer and perpetuate bias.
 
Thus far in 2013, the liberal news media has cited as major news stories such trivia as whether or not the pop-singer Beyonce’s singing at the Obama inaugural was lip-synced. Inane entertainment now defines the nation’s attention span, which the recent election tends to verify. 

Most Obama voters have little comprehension of Obama policies, except for those pertaining to their insular concerns: for single women, apparently it’s contraception; for Hispanics, it’s open borders; for young people, it’s denial of depressing finances; and for blacks, it’s blind loyalty. National solvency, national sovereignty, and national security no longer evoke concern. 

Radio commentators join print news and TV editorial writers, reporters, and columnists in refusing to acknowledge that foreign criminals are over-running U.S. cities, towns, national parks, and forests, as more than a million illegal-alien, gun-slinging gangsters swagger about the country with impunity.


This sad state of affairs is documented willingly or unwillingly by a potpourri of news accounts:

·         The Milwaukee Journal Sentinel in November 2012 carried a story entitled, “Mexican pot growers infiltrate forest in Wis.” The story described damage to the environment by pot-growing guards and noted, “Heavily armed drug traffickers from Mexico are using the only national forest in Wisconsin as their personal farms and greenhouses, growing millions of dollars in marijuana . . .” Many national and state forests and parks have been controlled for years, in whole or in part, by Mexican Drug Cartels (MDC) with little environmentalist outrage and limited news media coverage.

·         The Sarasota Herald-Tribune(Florida)on December 23, 2012, had a lead story on a Honduran refugee who arrived in the United States in 1998 and then had a massive stroke in 2012. The story indicated that the man, who still speaks no English, has a work permit, a visa, and is a refugee — making for a rather confused immigration status.
·         The Chicago Tribune carries daily reports on killings in the Windy City, killings that totaled 506 in 2012 among thousands of shootings. Meanwhile, Chicago Democrats led by Mayor Rahm Emanuel suggest that the remedy is to take guns away not from criminals, many in the country illegally, but from law-abiding U.S. citizens.    
·         National Public Radio (NPR), on January 7, 2013, surprisingly reported that the vast majority of homicides in the United States take place in African-American and Latino communities. Meanwhile, local papers in high murder-count cities choose to downplay the numbers.
·         The Washington Times, on January 9, 2013, cited Government Accountability Office report GAO-13-25 that finds the U.S. Border Patrol intercepting only 61 percent of illegal border-crossers along the Southern Border, as their numbers spike again.  
·         The Daily Mail (UK) on January 13, 2013, quoted several small California newspapers on the existence of a “maternity hotel” that charges pregnant citizens of China a fee of $20,000 to come to California for the birth of their children, who then qualify as U.S. citizens. Larger newspapers remained silent on the subject. 

·         The Washington Post, on January 17, 2013, reported that Governor Martin O’Malley, D-Md., was pushing for same-day voter registration and voting for all residents, giving non-citizens the vote. The article inspired no editorial comment.

·         The U.S. Inspector General of Health and Human Services (HHS), in January 2013, issued Report A-07-12-01116, stating that $91.6 million of Medicare claims were paid to illegal aliens between 2009 and 2011. The U.S. Congressional Budget Office (CBO) reports that Obamacare will cost $2 trillion over the next decade; yet the Obama administration passes out notices to immigrants on how to apply for benefits including Obamacare. A conspiracy of silence pervades the news media.

·         The azcentral.comwebsite on January 29, 2013, carried an interview with a Mexican-born man residing in the United States. The website chose not to identify the U.S. immigration status of the man, who declared that Comprehensive Immigration Reform (CIR) should be revamped to give priority to U.S. citizenship and family reunification for all immigrants regardless of their current status. 

·         Congressman John Conyers, D-Mich., ranking Democrat on the U.S. House Judiciary Committee, at a committee hearing on February 5, 2013, said he hoped no one would use the term “illegal immigrant.” He then went on to say, “Our citizens are not, the people of this country are not illegal. They are out of status. They are new Americans that are immigrants.” Conyers reinforces the mind-set of Obama and the Democrats that U.S. national sovereignty be damned.

As a liberal guardian of political correctness, Congressman Conyers joins the mainstream U.S. news media in manipulating the unthinking masses that formed the majority of those who showed up at the polls in 2012. The recent election paid testimony to their success.

 James H. Walsh was associate general counsel with the U.S. Department of Justice Immigration and Naturalization Service from 1983 to 1994. Read more reports from James Walsh — Click Here Now.


 


 

 

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