Friday, November 12, 2010

Fix IN! - The Economic Elite RULES!! Robosigning Imbeciles Speak! Paulsen & Greenspan Win Nobel for Dynamiting Economy - MD Class Action Filed

Rise like lions after slumber In unvanquishable number. Shake your chains to earth like dew. Which in sleep has fallen on you. Ye are many – they are few. -Shelley

This is the largest demonstration London has seen yet about the coming austerity measures as the students smash windows and start fires at Tory Headquarters. Around 25,000 people in the video that follows are protesting an increase of fees (3000 pounds to 9000 pounds) that trebles the fees for education as well as all the other austerity measures for the lower classes.

It's always edifying to tune in to a TV "snooze" show sometimes so you can remember why you don't bother with them anymore.

Morning Joe Panel Trashes UK Student Protesters, Pelosi, Krugman and Trumka

Can we restore the rule of law? Can we go back to where we were before the Raygun Revolution swept away the greatness of the USA? We'll find out soon when we learn what is really being done to resolve the foreclosure bank criminality and how to get citizens' money back from all the financial chicanery. Pretty tall order. But, without filling it perfectly, we can kiss the USA goodbye.

It’s no mystery what has happened on the deficit commission: as so often happens in modern Washington, a process meant to deal with real problems has been hijacked on behalf of an ideological agenda. Under the guise of facing our fiscal problems, Mr. Bowles and Mr. Simpson are trying to smuggle in the same old, same old — tax cuts for the rich and erosion of the social safety net.

Paul Krugman has exposed in toto the Commission that thinks we all should be eating more Cat Food (and soon!). Good one, Paul!

Count me among those who always believed that President Obama made a big mistake when he created the National Commission on Fiscal Responsibility and Reform — a supposedly bipartisan panel charged with coming up with solutions to the nation’s long-run fiscal problems. It seemed obvious, as soon as the commission’s membership was announced, that “bipartisanship” would mean what it so often does in Washington: a compromise between the center-right and the hard-right.

. . . It soon became clear that Erskine Bowles, the Democratic co-chairman, had a very Republican-sounding small-government agenda. Meanwhile, Alan Simpson, the Republican co-chairman, revealed the kind of honest broker he is by sending an abusive e-mail to the executive director of the National Older Women’s League in which he described Social Security as being “like a milk cow with 310 million tits.”

We’ve known for a long time, then, that nothing good would come from the commission. But on Wednesday, when the co-chairmen released a PowerPoint outlining their proposal, it was even worse than the cynics expected.

Start with the declaration of “Our Guiding Principles and Values.” Among them is, “Cap revenue at or below 21% of G.D.P.” This is a guiding principle? And why is a commission charged with finding every possible route to a balanced budget setting an upper (but not lower) limit on revenue?

Matters become clearer once you reach the section on tax reform. The goals of reform, as Mr. Bowles and Mr. Simpson see them, are presented in the form of seven bullet points. “Lower Rates” is the first point; “Reduce the Deficit” is the seventh.

So how, exactly, did a deficit-cutting commission become a commission whose first priority is cutting tax rates, with deficit reduction literally at the bottom of the list?

Actually, though, what the co-chairmen are proposing is a mixture of tax cuts and tax increases — tax cuts for the wealthy, tax increases for the middle class. They suggest eliminating tax breaks that, whatever you think of them, matter a lot to middle-class Americans — the deductibility of health benefits and mortgage interest — and using much of the revenue gained thereby, not to reduce the deficit, but to allow sharp reductions in both the top marginal tax rate and in the corporate tax rate.

It will take time to crunch the numbers here, but this proposal clearly represents a major transfer of income upward, from the middle class to a small minority of wealthy Americans. And what does any of this have to do with deficit reduction?

Let’s turn next to Social Security. There were rumors beforehand that the commission would recommend a rise in the retirement age, and sure enough, that’s what Mr. Bowles and Mr. Simpson do. They want the age at which Social Security becomes available to rise along with average life expectancy. Is that reasonable?

The answer is no, for a number of reasons — including the point that working until you’re 69, which may sound doable for people with desk jobs, is a lot harder for the many Americans who still do physical labor.

But beyond that, the proposal seemingly ignores a crucial point: while average life expectancy is indeed rising, it’s doing so mainly for high earners, precisely the people who need Social Security least. Life expectancy in the bottom half of the income distribution has barely inched up over the past three decades. So the Bowles-Simpson proposal is basically saying that janitors should be forced to work longer because these days corporate lawyers live to a ripe old age.

Still, can’t we say that for all its flaws, the Bowles-Simpson proposal is a serious effort to tackle the nation’s long-run fiscal problem? No, we can’t.

Read it all to determine that for yourself.

At Living Lies we read about the Maryland Class Action suit that has been filed alleging falsified documents that were filed purposively to mislead the court and property title system.

Having bought and sold a house in Maryland I can attest that these documents make all the difference if you want to ensure your chain of ownership in property (emphasis marks added - Ed.).

FILED TODAY: 11.10.10 -Maryland-Class-Action-Bgww[1] Action alleges robosigning and intentionally falsified documents screwing up the court and property title system. Great Line: “…the Defendants assembly line foreclosure prosecution became to foreclosure misconduct what Henry Ford was to automobile production.”

Editor’s Comment: Now I am not given to investment advice, especially in this uncertain environment . . . . BUT I can’t help thinking of my Wall Street days when I would have been shorting, buying puts and otherwise betting the farm on the demise of these Mills and the investment banks that funded the “boutique” investment banking firms that provided the money to get these mills going and maintained.

Plausible deniability just became implausible deniability or to put it more simply, a damn lie. In my not-so-humble opinion this will keep exploding in the face of the bankers until the decks are cleared. Their strategy is borne on arrogance. That arrogance is based upon assumptions of power that are, in my opinion, misplaced. They are ALL going down.

The people in these Mills are not going to protect the people at the top of the chain. Neither the control nor the incentive is present. Bernie Ebbers is probably looking forward to the company.

"Video deposition of alleged robo-signer Bryan Bly taken by attorney Christopher Forrest of The Forrest Law Firm on Nov. 4, 2010 in Pinellas County, FL" Here is the video of a deposition of a representative of one of those firms that stands accused of (robo)signing documents with different titles. I have to admit that he looks an awful lot like the crooks who ran my last closing as they tried to extract all sorts of fantasy fees from me at the last minute.

You'll love their idea of standards for "notarization." Bryan Bly is the man in the video and he looks like he knows he's the "fall guy." He admits that he signed as either Secretary or Vice President of Bank of America, Chase and Wells Fargo among many others.

sgornick

A.) "Chase, Wells Fargo, . . . I'm on pretty much every corporate resolution." Q.) "So, would it be accurate to say that there are maybe in excess of 20 companies or banks that you sign as Vice President? "

A.) "That would be fair to say."

David DeGraw explains how Hank Paulsen of Goldman Sachs and Alan Greenspan, entrepreneur par excellence, collaborated in the latest win of the new Dynamite Award from the Nobel Committee.

Dear America, Your Taxes Are Going Up 20%, Food and Gas Prices Will Skyrocket, The Federal Reserve Just Dropped An Economic Nuclear Bomb On Us, TIME TO RISE! - David DeGraw On Quantitative Easing, The Hidden Tax

By David DeGraw, AmpedStatus I’ve been writing report after report detailing our economic and political crisis. After writing two books and getting over five million page views on my online reports, I am inspired by the response and support they have been getting from people across the political spectrum. However, I am forced to confront the fact that we are still failing to reach the people that we most urgently need to reach, the average American citizen, the people who are busy working every day trying to make ends meet and don’t have the time to read through long reports.

We’ve begun work on a documentary, but it will take at least eight months to get it out and, given the urgency of our situation, we realize that we don’t have time to spare. So we are going to start making short videos to break issues down in an easily understood manner. The goal is to have a video that family and friends can watch which explains our crisis and hopefully inspires passive people into action.

In this first video, I discuss the Federal Reserve’s latest Quantitative Easing scheme. David DeGraw is interviewed by Max Keiser where he speaks further on the economic choices to be made. The Economic Elite Versus the People of the U.S. David DeGraw tells us why there will be no recovery. For you. And me. According to David: 1. U.S. has the highest poverty rate in the world (over 50 million). 2. We pay twice as much for medical care than any other western nation and it ranks 37th in quality in the world. 3. Business Roundtable has moved on its plan to eliminate the middle class. 4. 30 million unemployed and underemployed with 25% of remaining jobs to be shipped out overseas in next decade. 5. Top 1% control over 75% of financial resources. 6. Any thought of recovery is a fantasy. 7. The economic elite are consolidating their wealth where 400 of the richest Americans control more wealth than 155 million Americans combined and the elites are jumping off the USA Titanic into their lifeboats (which they destined to go down). 8. We have been attacked. We are in an economic war right now here in the U.S. 9. Over 5 million people have lost their homes. 10. Over 60% of the people in the U.S. are living paycheck to paycheck. As an aside I'd like to just say that my thought when I first heard the words 'War on Terror" (or whatever title it was first known as) was that it was strictly a subterfuge for the coming economic warfare on the middle class which would be guaranteed by the Bush/Cheney Administration. No one seems to remember anymore what trouble they were in at the moment of 9/11 economically, and that Rumsfeld had just announced that he couldn't account for 3 trillion dollars at the Pentagon on 9/10. (Emphasis marks added - Ed.)

Danny Schechter issues a call to arms. Will enough citizens answer?

A Time To Act: Our Campaign To Jail Financial Fraudsters

“I’ll have the Chateau Mouton-Rothschild from 1982,” a Wall Street investment banker recently told his waiter at the latest and greatest chi-chi restaurant in Greenwich Village.

“Yes sir, but I want you to know, the cost is $$3,950,” according to the New York Times.

“No Problem”

And so it goes at the bistro called The Lion, where no extravagance is too costly for today’s banksters and Lion Kings. The men they call the Big Swinging Dicks are back. In the words of the New York Times, Wall Street is getting its “groove back,” anticipating their latest round of bonuses while gloating about how their strategic and undisclosed campaign donations assured that the overdue regulations they fear will be put on hold.

For them, buying the 2010 election was a small price to pay. Read Economist James Galbraith’s column in how they did it. Oh, happy day. Meanwhile, the rest of us cling to our “jobless recovery” while the prospect of inflation engineered by the Federal Reserve Bank threatens what purchasing power we have.

Increasingly, experts in the know are saying that unless financial fraud is prosecuted, there can be no recovery, as Washington’s Blog reports:

“As economists such as William Black and James Galbraith have repeatedly said, we cannot solve the economic crisis unless we throw the criminals who committed fraud in jail. And Nobel prize winning economist George Akerlof has demonstrated that failure to punish white collar criminals – and instead bailing them out - creates incentives for more economic crimes and further destruction of the economy in the future. See this, this and this. Nobel prize winning economist Joseph Stiglitz just agreed. As Stiglitz told Yahoo’s Daily Finance on October 20th: “The legal system is supposed to be the codification of our norms and beliefs, things that we need to make our system work. If the legal system is seen as exploitative, then confidence in our whole system starts eroding. And that’s really the problem that’s going on.” OUR RESPONSE: We Don’t Need More Bailouts. We need a Jailout. Support the JAILOUT Economic Justice Campaign by signing the petition at newsdissector.com/blog We pledge allegiance to Justice for all. Not to those who steal and defraud us. Not to those who wrecked our economy. We need laws enforced, not winked at with financial settlements that allow those that enriched themselves at our expense, and destroyed the lives of so many, to get off scot-free, often with obscene bonuses and promotions. Now, it is time for all of us to speak out and demand that something is done, to stop foreclosures and create jobs. We can start with a petition to the President, Attorney General, and political, labor and youth leaders not in the bag to Wall Street. We can call on the media to do more to cover this story instead of blaming the victims for the crime.

Will you stand up with us and call for action now? Will you sign this simple appeal to be sent to the President, Leaders of Congress of both parties and the Attorney General?

ENOUGH IS ENOUGH

1. Investigate fraudsters and financial criminals. 2. Indict those responsible. 3. Prosecute using RICO laws that target criminal enterprises. 4. Incarcerate the guilty. All of this has been done before. More than 1500 bankers went to jail after the S&L Crisis. Why not today?

We demand a criminal investigation. We demand to see the guilty parties indicted. Their illegal gains should be seized and distributed to their victims. We demand the federal and state governments prosecute these crimes, using RICO laws when possible, not cut deals that allow these crooks to walk free. We want a national moratorium on foreclosures until all the shady legal issues are sorted out — and not just by the banks. We want our government to be on our side, to stand up for Main Street, not Wall Street.

Please tell us: I am with you. I agree with this call to action.

Name Address City State Zip Code Email address Speak Up. Demand Fairness. Enough Is Enough. If you committed these crimes, you would be doing time. So should they!

The folks who run Naked Capitalism are always on tap to tell us exactly what the Cat Food Commission recommendations and QE2 are all about. NAKED CAPITALISM ON QUANTITATIVE EASING Washington Post: Deficit Panel Leaders Propose Curbing Social Security Increases Washington Post reports an international backlash to Fed Decision

Of course, these are always just opening offers.

Stay tuned.

Your future is in the offering.

Suzan _________________

5 comments:

CoyotePrime said...

Excellent post, Suzan! Your work is always outstanding. Thanks for all you do...

Suzan said...

From your lips to my heart.

Thank you, friend.

S

LORD TRUTH 101 said...

You are one hard working and informed blogger Suzan.

I rarely leave a comment because you cover everything.

Suzan said...

I'm speechless, milord!

My thanks!

Love your blog too.

Suzan

Beach Bum said...

...the proposal seemingly ignores a crucial point: while average life expectancy is indeed rising, it’s doing so mainly for high earners, precisely the people who need Social Security least.

Ah, but the proles can take care of themselves, or just die. And us liberals don't think the rich elites believe in evolution.