Tuesday, November 13, 2012

OBAMA'S ASSAULT ON AMERICA - Obama loan repayment scheme maintains crushing debt burden on students

Obama loan repayment scheme maintains crushing debt burden on students

SOMEONE MUST PAY FOR THE CRIMES AND BAILOUTS OF OBAMA'S WALLS STEET CRONIES, AND THE MASSIVE LA RAZA MEXICAN WELFARE STATE HE IS CREATING IN AMERICAN BORDERS!


“I’m not here to punish bankers!” BARACK OBAMA ON THE FLOOR OF THE SENATE, IN  THE FACES OF THE AMERICAN PEOPLE 


OBAMA’S CRONY CAPITALISM – WHO PAYS FOR HIS BANKSTERS’ BAILOUTS AND MASSIVE GOV SUBSIDIZED BONUSES… GOT TO CUT FROM THE PEOPLE, BUT FIRST, OBAMA WILL CONTINUE TO PUSH FOR AMNESTY AFTER AMNESTY, OPEN & UNDEFENDED BORDERS, AND CONTINUED NON-ENFORCEMENT OF LAWS THAT WILL ENABLE EMPLOYERS TO HIRE ONLY ILLEGALS ON THE CHEAP!

THAT IS WHY OBAMA IS DETERMINED TO FLOOD OUR COUNTRY WITH MORE ILLEGALS!

THERE IS A REASON WHY THE U. S. CHAMBER of COMMERCE, FRONT FOR BIG BUSINESS, AND MOST OF THE FORTUNE 500, GENEROUS DONORS TO THE MEX FASCIST PARTY of LA RAZA, WANT OBAMA’S OPEN BORDERS AND NON-ENFORCEMENT… depressed wages!!!!

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Wsws.org

Underlying the rise of the financial aristocracy—which exercises control over the entire political system—is the failure of the world capitalist system as a whole. In amassing its wealth, this tiny layer of the population, concentrated above all in the United States, has overseen a vast destruction of industry and social infrastructure. The ruling classes of every country now openly proclaim that the maintenance of their system depends upon an unprecedented destruction in the living conditions of the broad masses of the population.

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OBAMA'S ASSAULT ON THE AMERICAN PEOPLE CONTINUES...

US student loan lawsuits increase


By Bryan Dyne
10 October 2012

The federal government is expanding its lawsuit campaign to recover the $76 billion of the $1 trillion of student debt that is in default, defined as 270 or more days without a payment. Private law firms are being hired under lucrative contracts, some granting the forms 25 percent or more of what is recovered, to hunt down those in default using mail, phones and house calls. This is part of a general program of the federal government to collect delinquent civil debts.

Eastern Michigan was one of seven districts where the federal government began using private attorneys to collect student loans in default, starting in 1986. Over the intervening 26 years, the program has been expanded by the Department of Justice to 19 districts—Florida Southern, Florida Middle, Texas Northern, Texas Southern, Pennsylvania Western, Pennsylvania Eastern, Pennsylvania Middle, Puerto Rico, California Northern, California Central, Michigan Eastern, New Jersey, South Carolina, District of Columbia, New York Northern, New York Eastern, New York Western, Connecticut, and Illinois Northern.

These districts are some of the most impoverished in the country. Detroit (Michigan Eastern) poverty is 41 percent. Philadelphia (Pennsylvania Eastern) poverty is 31 percent. This is part and parcel of a deliberate federal policy of garnishing money from the poorest sections of the working class. Student loan debt has become a primary way of doing so, especially considering that federal student loan debt is more than $850 billion, an amount that is growing with each passing quarter.

Private law firms suing those in default are in addition to collection agencies the government hires to find defaulted borrowers. The penalties for being unable to pay loans at this stage are particularly harsh. After the firm issues a summons, 20 days are given before the person will have the federal government rule against him. From then on, the attorney can garnish wages up to 25 percent and place a lien on property. All control over how the debt is paid is granted to the firm. Nationwide, 42 firms are contracted to pursue student debt.

The conduct of these firms is especially callous. Instead of leaving if a house call yields no results, they have taken to going to neighboring houses if they suspect their target is simply hiding. Once their target is called by neighbors, informed that an agent of the firm is there to collect student loan debt, the targets often relent, not wanting the knowledge of the student loan suit spreading.

Such incidents are likely on the rise, especially considering that half of recent college graduates are either unemployed or underemployed. Nearly 6 million people in the US are more than 12 months behind on their student loan repayment. The national three-year default rate is 13.4 percent. Law firms involved in collecting this money are oblivious to this, more concerned with gaining up to 30 percent of what they seize as payment for services rendered.

Detroit is being used as a model for student loan recovery efforts of this nature. Since the program began, the Michigan Eastern District Court has accounted for more than 14,000 lawsuits, 13 percent of all lawsuits nationwide. Two hundred fifty suits in Detroit have been filed this year by Holzman Corkery, PLLC; Shermeta, Adams and Von Allmen; Goodman and Poeszat; and O'Reilly & Rancillio—the four firms involved.

Despite this aggressive collection activity, few if any restrictions have been placed on those giving out student loans. As a student loan is not shed through bankruptcy, lenders are extremely willing to lend out money, especially considering the resources that the federal government will use to hunt down anyone who goes into default. The end result of such policies is an exacerbation of the social crisis caused by student loan debt.

Students attending for-profit institutions are particularly hard hit. Data from the Department of Education shows that the 22.7 percent of students who graduated from for-profit schools, including vocational schools, default within three years.

These policies have been criticized by educators observing the process. Ferris State University President David Eisler commented, “People will make questionable loans to students because they know they have a guarantee that it will get repaid.” The federal government claims it has recovered 80 percent of defaulted loans it has pursued.

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OBAMA IS STILL PUNKING US!

"Despite this grim reality, the Obama administration has sought to portray its budget as expanding services for working people and imposing greater burdens primarily on the wealthy."

Programs to be cut include not only those targeted by Obama and the Republicans in the current budget debate--home heating assistance, Pell Grants, WIC, Head Start, etc.--but the much larger entitlement programs, Social Security and Medicare, which will face cuts later in the budget process.

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.

  • Obama’s budget and the rot of American capitalism

15 February 2011

On Monday, the Obama administration released its proposed federal budget for fiscal year 2012. After committing trillions in federal bailouts to the banks and billionaires, the White House is demanding cuts that will devastate the working class, and particularly its poorest and most vulnerable sections.

The $1.1 trillion in cuts for the next decade proposed by the White House is to be only the starting point for further cuts, as spokesmen for both big business parties acknowledge. Senate Budget Chairman Kent Conrad, a Democrat, declared, “We’ve got to do substantially more than $1 trillion worth of deficit reduction in the next decade.” Republican House Speaker John Boehner said, “There’s no limit to the amount we’re willing to cut.”

Democrats and Republicans agree on gargantuan military spending, an uninterrupted flow of funds to the financial aristocracy, and continued tax breaks for corporate America and the wealthy. As a top White House official told the press at a background briefing on the budget, “The debate in Washington is not whether to cut or to spend. We both agree we should cut. The question is how we cut and what we cut.”

The Obama budget projects that the ten-year cumulative deficit will reach a staggering $10.4 trillion. By attempting to wring such vast sums from the hides of the population, the ruling elite is trying to set American society back to conditions not seen for generations.

Programs to be cut include not only those targeted by Obama and the Republicans in the current budget debate—home heating assistance, Pell Grants, WIC, Head Start, etc.—but the much larger entitlement programs, Social Security and Medicare, which will face cuts later in the budget process.

The social impact will be incalculable. As hundreds of thousands of people face the bitter cold of winter without heat and gas, Obama is proposing halving the grossly inadequate federal assistance that is available. As students graduate with record debt and no job prospects, the administration is proposing significant cuts in government aid. Such gross indifference to social distress is repeated in every sphere.

Significant cuts to Social Security and Medicare—which amount to denying America’s elderly their right to pensions and health care—would have an even broader impact.

Behind the “debate” in Washington and the media over the budget is a massive lie—the claim that the budget deficits are a product of excessive social spending. Obama’s budget director Jacob Lew summed up this grotesque falsification an op-ed column published in the New York Times February 6, under the headline, “The Easy Cuts Are Behind Us.” Lew claimed that the causes of the projected budget deficits were “decisions to make two large tax cuts without offsetting them and to create a Medicare prescription drug benefit without paying for it, combined with the effects of the recession…”

This list is notable for what it leaves out: the cost of two wars, in Afghanistan and Iraq, which runs into the trillions; and the bank bailouts, where more trillions in public funds were placed at the disposal of the financial aristocracy, with no questions asked. The military budget by itself accounts for the lion’s share of the ten-year deficit: more than $7 trillion of the projected $10 trillion.

Lew’s more fundamental omission, however, is the grotesque class inequality that pervades American society. The top one percent of the US population owns over one third of the country’s wealth. The greatest wealth, however, is concentrated in an even smaller layer. Indeed, the $1.1 trillion in proposed cuts—which will have a terrible impact on the lives of millions of people—is somewhat less than the combined wealth of only the 400 richest Americans.

The arguments presented by the ruling elite for the cuts are staggeringly hypocritical. As they drown in floods of cash, they insist that no money is available for workers’ most basic needs.

Workers must reject this argument out of hand. They are not responsible for the orgy of swindling and profiteering that produced the 2008 Wall Street crash and pushed the world economy into the deepest slump since the Great Depression. On the contrary, an essential feature of the speculative binge was that the share of national income received by workers has shrunk to the lowest level in nearly a century.

Underlying the rise of the financial aristocracy—which exercises control over the entire political system—is the failure of the world capitalist system as a whole. In amassing its wealth, this tiny layer of the population, concentrated above all in the United States, has overseen a vast destruction of industry and social infrastructure. The ruling classes of every country now openly proclaim that the maintenance of their system depends upon an unprecedented destruction in the living conditions of the broad masses of the population.

These measures will provoke mass opposition. The revolutionary struggles in Egypt—in which protests and strikes of millions of workers and youth forced the resignation of a US-backed dictator that ruled the country for more than 30 years—point to the forms of struggle that will spread worldwide in the coming period. Mass unemployment, record inequality, and the corruption of the political system are common to Egypt and the United States, and are in fact universal. At the foundation of this system is the principle that economic life must be subordinated to private profit and the maintenance of the wealth of those who control the giant banks and corporations.

The working class can secure its interests only through the overturn of the capitalist system as a whole—that is, the reorganization of economic life to meet social need. In every aspect of its policies and of its social being, the ruling class itself makes the case for socialist revolution.

Patrick Martin

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MEXICANOCCUPATION.blogspot.com

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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.

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OBAMA HAS TWO AGENDAS. SERVICING BANKSTER DONORS, AND PUSHING OUR BORDERS OPEN FOR MORE ILLEGALS. HE KNOW WE WON’T BE PUNKED BY HIS PERFORMANCES THE SECOND TIME AROUND!

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“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



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

 

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FROM CREOLE FOLKS

 

Obama Seeks Brother of "Chicago Mob Boss" for Top White House Post

The roaches and con-artist, fake journalist on cable news are all lying about William Daley being all this and all that, this man is an open borders, down with America, free trade globalist.  MSNBC and Gretta "the Scientology" Van Susteren from Fox News are knowingly deceiving the public about D. Issa & his letter to "business owners"=which they made into such a BIG DAM DEAL, but no one says anything whenBarrack Hussein Obama, comes around with all of these shady bankers, hedge fund managers and Wall St. Tycoons, which he puts in his cabinet.  All of Obama's meeting with Wall Street asking, "What can I do for you?" is never something covered by Keith Oberman or Rachel Maddow. 

(Bloomberg) -- President Barack Obama is considering naming William Daley, a JPMorgan Chase & Co. executive and former U.S. Commerce secretary, to a high-level administration post, possibly White House chief of staff, people familiar with the matter said.

 

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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.

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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.

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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

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·         Hardcover: 256 pages

·         Publisher: Regnery Press (November 30, 2009)

·         Language: English

·         ISBN-10: 1596986123

·         ISBN-13: 978-1596986121

 

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WHILE IT CAN BE ARGUED THAT OBAMA IS NOTHING BUT A PERFORMER, HIS ACT CALLED “CHANGE”, CERTAINLY HIS BANKSTER DONORS HAVE DONE EXCEEDINGLY WELL! UNDER OBAMA THEY’VE MADE MASSIVE PROFITS, COLLECTED MASSIVE WELFARE, PAID OUT MASSIVE BONUSES, AND CAUSED MASSIVE FORECLOSURES… and not one went to prison! TO HIS BANKSTERS, OBAMA IS A POSTER BOY FOR WALL ST. LOOTERS!

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A FAILED PRESIDENCY (WAKE UP AMERICA)

> > Dr. Hunt is a social and cultural anthropologist. He has had
> > nearly 30 years experience in planning, conducting, and managing
> > research in the field of youth studies, and drug and alcohol
> > research. Currently Dr. Hunt is a Senior Research Scientist at the
> > Institute for Scientific Analysis and the Principal Investigator on
> > three National Institutes on Health projects. He is also a writer
> > for American Thinker.
> >
> >
> > Subject: Another Failed Presidency
> >
> > An article from American Thinker by Geoffrey P. Hunt
> >
> >
> >
> > Barack Obama is on track to have the most spectacularly failed
> > presidency since Woodrow Wilson. In the modern era, we've seen
> > several failed presidencies--led by Jimmy Carter and LBJ. Failed
> > presidents have one strong common trait-- they are repudiated, in
> > the vernacular, spat out. Of course, LBJ wisely took the exit ramp
> > early, avoiding a shove into oncoming traffic by his own
> > party. Richard Nixon indeed resigned in disgrace, yet his
> > reputation as a statesman has been partially restored by his
> > triumphant overture to China 20.
> >
> >
> >
> > But, Barack Obama is failing. Failing big. Failing fast. And
> > failing everywhere: foreign policy, domestic initiatives, and most
> > importantly, in forging connections with the American people. The
> > incomparable Dorothy Rabinowitz in the Wall Street Journal put her
> > finger on it: He is failing because he has no understanding of the
> > American people, and may indeed loathe them. Fred Barnes of the
> > Weekly Standard says he is failing because he has lost control of
> > his message, and is overexposed. Clarice Feldman of American
> > Thinker produced a dispositive commentary showing that Obama is
> > failing because fundamentally he is neither smart nor articulate;
> > his intellectual dishonesty is conspicuous by its audacity and lack
> > of shame.
> >
> >
> >
> > But, there is something more seriously wrong: How could a new
> > president riding in on a wave of unprecedented promise and goodwill
> > have forfeited his tenure and become a lame duck in six months? His
> > poll ratings are in free fall. In generic balloting, the
> > Republicans have now seized a five point advantage. This truly is
> > unbelievable. What's going on?
> >
> >
> >
> > No narrative. Obama doesn't have a narrative. No, not a
> > narrative about himself. He has a self-narrative, much of it
> > fabricated, cleverly disguised or written by someone else. But this
> > self-narrative is isolated and doesn't connect with us. He doesn't
> > have an American narrative that draws upon the rest of us. All
> > successful presidents have a narrative about the American character
> > that intersects with their own where they display a command of
> > history and reveal an authenticity at the core of their personality
> > that resonates in a positive endearing way with the majority of
> > Americans. We admire those presidents whose narratives not only
> > touch our own, but who seem stronger, wiser, and smarter than we
> > are. Presidents we admire are aspirational peers, even those whose
> > politics don't align exactly with our own: Teddy Roosevelt, FDR,
> > Harry Truman, Ike, and Reagan.
> >
> >
> >
> > But not this president. It's not so much that he's a phony,
> > knows nothing about economics, and is historically illiterate and
> > woefully small minded for the size of the task--all contributory of
> > course. It's that he's not one of us. And whatever he is, his
> > profile is fuzzy and devoid of content, like a cardboard cutout made
> > from delaminated corrugated paper. Moreover, he doesn't command our
> > respect and is unable to appeal to our own common sense. His notions
> > of right and wrong are repugnant and how things work just don't add
> > up. They are not existential. His descriptions of the world we live
> > in don't make sense and don't correspond with our experience.
> >
> >
> >
> > In the meantime, while we've been struggling to take a
> > measurement of this man, he's dissed just about every one of
> > us--financiers, energy producers, banks, insurance executives,
> > police officers, doctors, nurses, hospital administrators, post
> > office workers, and anybody else who has a non-green job. Expect
> > Obama to lament at his last press conference in 2012: "For those of
> > you I offended, I apologize. For those of you who were not
> > offended, you just didn't give me enough time; if only I'd had a
> > second term, I could have offended you too."
> >
> >

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