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  • janeeyresick commented on the diary post Boycott the 2012 Presidential Election by terridi.

    2012-06-02 12:11:49View | Delete

    I torture myself with this quagmire every day. I sincerely loathe the Democrats for their insincerity, their dis-ingenuousness, their cowardice, their venality, their fake stance as protectors of the lower, middle and working classes, and a hundred other things I could mention. They literally don’t deserve my vote any more than a Republican although they [...]

  • janeeyresick commented on the diary post Ezekiel Emmanuel Doesn’t Like Social Security and Medicare by Dean Baker.

    2012-05-21 13:11:58View | Delete

    Zeke Emmanuel is the guy who came up with the idea of turning Medicare into a voucher program in the first place years ago in a treatise he wrote. That’s why nothing he has ever said since should be a surprise. Rahm and he are two peas in a pod as they try to privatize [...]

  • janeeyresick commented on the blog post Sham OCC Reviews Found to Be a Sham

    2012-02-24 12:39:39View | Delete


    Aside from the cluelessness of the HUD Secretary, the Attorney General of the United States, Eric Holder as late as LAST NIGHT was offering the following:
    Attorney General Defnds Financial Crime Record

    “We’ve found that much of the conduct that led to the financial crisis was unethical and irresponsible,” Holder said in prepared remarks.

    “But we also have discovered that some of this behavior – while morally reprehensible – may not necessarily have been criminal.”

    I’m sorry, but that sorry excuse left the station a long time ago. We know better. This is starting to smell very much like a cover-up. Mr. Holder then went on to brag about indicting 2,100 people for mortgage fraud. In other words, he’s all over the little fish of no consequence while he allows the sharks to swim freely.

    Because the Attorney General is not impartial and has a personal connection to these perps in that he and his co-hort Breuer were associated with the law firm that represented MERS, he needs to step aside and turn over investigations and prosecutions to people who are not compromised and who understand that YES CRIMINAL ACTS WERE COMMITTED and continue to be committed and who are wiling to investigate and prosecute.

    History will be very very very unkind to this administration. It’s starting to make the Harding Administration look like a paragon of civic virtue

  • janeeyresick commented on the blog post Roundup Open Thread, Washington’s Birthday, 2012

    2012-02-23 04:24:43View | Delete

    Good Lord! Yet MORE proof that Wall Street will NEVER be held accountable in any meaningful way with any real deterrence.

    Responding to Critics, SEC Defends “No Wrongdoing” Settlements

    Critics of the agency have also raised concerns about its settlement practices over the last decade. According to a New York Times analysis of enforcement cases, nearly all of the biggest Wall Street firms have settled fraud cases by promising never to violate a law that they had already promised not to break, usually multiple times. In addition, the Times analysis showed, those settlements also repeatedly granted exemptions to the biggest Wall Street firms from punishments intended by Congress and regulators to act as a deterrent to multiple fraud violations.

    How much more proof does the American public need in order to understand that systemic and pervasive frauds are being encouraged by the putative watchdogs of the systems and protectors of the public?

    Sorry for the multiple posts, just kept stumbling across items that make me want to run screaming into the streets.

    We are all Howard Beale.

  • janeeyresick commented on the blog post Roundup Open Thread, Washington’s Birthday, 2012

    2012-02-23 03:51:44View | Delete

    Well, here’s more proof that the Justice Department is where banking investigations/prosecutions go to die, this from the Columbia Journalism Review

    American Banker Shows DOJ Sat On Bank Kickback Scandal

  • janeeyresick commented on the blog post Roundup Open Thread, Washington’s Birthday, 2012

    2012-02-23 03:04:36View | Delete

    This is interesting:

    Record Mortgage Settlement Greatly Reduces Likelihood of FHA Bailout

    as is the WSJ Opinion piece by David Skeel – Mortgage Settlement or Mortgage Shakedown?

  • Exactly right. The so-called “settlement”, written by the HUD Secretary, had nothing to do with Justice. People are still being victimized as we speak. How many times have we all seen exactly the same servicer guidelines announced in program after program and yet the abuses continue? I would think that even they would start being embarrassed at doing the cut and paste so repetitiously.

    How I loved Dayan putting the squash on one of their favorite lame “benefits” – “single point of contact” by pointing out that in any well-run normal business, like say a utility, ANY customer service person has access to an orderly database and can answer questions about your account. What happens if your “single point of contact” gets run over by a bus?

    The so-called Foreclosure Fraud and Mortgage Servicer “Task Force” looks to be nothing but a fraud, cover-up and white wash. History will not be kind, to be blunt, when it looks back at the actions and inactions of the Obama Administration as regards the financial crisis, the housing bubble and foreclosure fraud. Actually, we don’t even need history, because it has all been documented and laid out in real time.

    An interesting point was made by a commentator on naked capitalism who observed that the preeminence of the role of HUD in what was billed as a Justice enforcement is an example of one arm of the executive Branch (HUD) interfering with the Judicial arm, in order to implement policy initiatives it could have accomplished through other means.

    The Wall Street Journal, believe it or not, has a strong piece against the settlement for the same reason but from a completely opposite perspective, one more sympathetic to the banks. Just goes to show that bad practice is bad practice from everyone’s perspective.

    In that piece, it was posited that because there was injunctive relief in the settlement, that court approval was required and that a judge should disapprove the whole damn thing, which reasoning I heartily concur with.

    The people who were and are completely ignored in this “settlement” are the abused and victimized homeowners. No one ever seems to mention that even this insult of an action IGNORES most homeowners, those with Fannie, Freddie and FHA loans, as I understand it. Did they not suffer any foreclosure fraud and servicer abuse? Are they being told to just pound sand.

    The topic of this particular item by David Dayan, just serves up yet again why the settlement is so egregiously pathetic.

  • janeeyresick commented on the diary post Bank Settlement Was a Bait and Switch All Along by Scarecrow.

    2012-02-18 12:02:56View | Delete

    Yes, a definite bait and switch. They way I see it 1. The Joint Task Force seemed like a way to vacuum up all the AGs and put the kibosh on anything they had been doing independently. 2. There was no advantage to melding active AGs with a moribund Justice Dept except perhaps to give [...]

  • OMG! The L Randall Wray piece is earth shattering! I am actually going to plow through that report.

    My mind has just been officially blown. 7.7 Trillion as previously reported was mind altering enough 29 Trillion is about beyond conception. Good thing we have a fiat currency!

    I have always thought of Bernanke and his 24 hour printing press as a spackle factory. Every morning the spackle truck drives up to the financial behemoth to cover over more of the ever growing hole. Finally, one day the entire structure is nothing but spackle and it collapses because you can’t spackle spackle.

    Damn! Now I think I’ll run out, buy some chickens and a goat and invest in some canned goods.

  • Which makes this officially a shell game. Both the banks and the feckless Obama administration can count the money twice: once as being their “penalty” and two to pump up the pathetic numbers of HAMP modifications to date which are nowhere near the initial projections. AND, the cherry on the sundae, they get to use taxpayer funds to do it!

    So the state AGs saw through the ruse, but agreed to it anyway? Why? As pointed out, they could have used HAMP standards for the penalty modifications and not allowed any taxpayer funded pass through.

    Looked at critically, the deal cost taxpayers and homeowners money and SAVED banks money. Was that the point of the Task Force? To save the banks money? Why was that the result? Did we all the enjoy puppet show where everyone pretended they were being “punished” and that the outcome was a gain for the homeowner and taxpayer?

    They barely bother to conceal their contempt for the average American citizen and member of the 99%

    I really think that the settlement should just flat out be rejected by the American public. Do we have any say so in this process at all?

    Why are we supposed to believe that the mortgage securitization Task Force and “investigation” will go any better?

    I think this should be turned over to a special prosecutor NOW because the state AGs and the Justice Department have done such a poor job of representing the American public. I have no concern whatsoever about statutes of limitations running out because I don’t believe that the servicers and foreclosure frauds have been cured or abated at all, and if they have, it was only recently.

    They took 16 months to deliver NOTHING of value to the American taxpayer/citizen/homeowner.

  • janeeyresick commented on the blog post Payroll Tax Cut/UI Details Released

    2012-02-17 06:21:20View | Delete

    Republican policies or Republican policies?

    Yes, being swept back to the 18th century instead of the 15th century is counted as a victory.

    Yea Democrats! Never give an inch when a mile will do.

  • I have a simple idea.

    Americans need to REJECT the AG mortgage settlement before it’s finalized and signed.

    They made a big mistake by announcing a done deal before it was done. The more we learn, the more horrible it is.

    No investigation, completely inadequate compensation, nothing that could be considered punitive in the least to the perps,and as a final insult we just discovered that the taxpayers will actually be paying for the banks “fine” the illusory 25 Billion, which becomes less illusory when it comes directly from the taxpayers pockets.

    The Obama administration curried favor with “left leaning organizations sympathetic to the foreclosed homeowner” in advance of the announcement of the deal. That sentence came from an article I read at Financial Times that is behind a subscription wall.

    Anyone who is sympathetic to the homeowner and not involved in covering-up and protecting the banks SHOULD REJECT THIS DEAL.

    There is time for people to call their Congressman or Senator or AG or anyone else they can think of and call for the government to pull out and stop this farce and go back and do their jobs:

    Investigate and Prosecute. This was a JUSTICE action, not a Treasury or HUD homeowner bailout and they have managed to confuse and conflate the 2.
    A Bailout had no place in a Justice action.

    The lame piece written with the joint byline of Donovan and Holder PROVES this was their orientation from the getgo – justice was never a part of the equation except for the value they providing in immunizing banks to get a deal through “negotiation” and “settlement” that they could have gotten through civil penalties and fines.

  • janeeyresick commented on the blog post The Roundup for February 15, 2012

    2012-02-16 03:44:48View | Delete

    David, I wish you would have the heart to analyze the Donovan Holder piece. You have followed this story longer and better than almost anyone and I for one am very interested in your take on the principals own summary of their actions and the settlement itself.

    Why just the Las Vegas Sun? Nevada was a state that was hit really really hard by the foreclosure crisis. I wonder how it is playing there.

    The same column was published on Daily Kos where it was politely ignored and on Huffington Post where the comments really went to town dismantling their credibility and the settlement.

    I think the Obama administration should be very concerned about the public reaction.

  • janeeyresick commented on the diary post Amazing Diary at Kos by Donovan and Holder re Settlement by janeeyresick.

    2012-02-16 01:49:41View | Delete

    Not even any of the sycophants turned out to applaud on what is essentially a pro-Dem website. That is extremely telling. The lack of positive comments over there and the incredibly negative ones over at Huffpo should have Obama very worried. Millions of Americans victimized by the banksters feel victimized yet again by the lack [...]

  • janeeyresick commented on the diary post Hey, Did You Happen to See the Most Beautiful Girl in the World? by Jane Hamsher.

    2012-02-15 19:15:04View | Delete

    So very sorry about Katie. We always know this time will come and yet we’re never really prepared when it actually happens. You were a gift to her and she was a gift to you.

  • janeeyresick commented on the diary post Amazing Diary at Kos by Donovan and Holder re Settlement by janeeyresick.

    2012-02-15 19:05:05View | Delete

    This “shit” is posted on both Kos and Huffpo with the actual byline of Donovan and Holder. I guess they have no idea of how in depth the coverage has been (in particular by David Dayen here and by Yves Smith at nakedcapitalism) and how well people understand what has happened. I can’t believe they [...]

  • janeeyresick commented on the diary post Amazing Diary at Kos by Donovan and Holder re Settlement by janeeyresick.

    2012-02-15 18:58:05View | Delete

    Thanks! The comments are ripping them to shreds. Donovan and Holder make the mistake of thinking the public is uninformed about the foreclosure and banking crises and that they can just roll out the usual blather. Millions of Americans personally lost money and are foreclosed or underwater or just barely hanging on and they made [...]

  • janeeyresick commented on the diary post Amazing Diary at Kos by Donovan and Holder re Settlement by janeeyresick.

    2012-02-15 15:38:00View | Delete

    Well, the reaction to this diary seems like an embarrassed silence, like someone farted in public but no one wants to point it out. I think it’s politeness – plenty of people over there know what a farce the settlement is. Cough, look away. This extremely lame justification with the byline of the HUD Secretary [...]

  • The title is, believe it or not,  HOLDING BANKS ACCOUNTABLE. I’ll give you a few moments to stop laughing and collect yourselves. Ok? Ready? Then steel yourselves and proceed to: http://www.dailykos.com/story/2012/02/15/1065029/-Holding-Banks-Accountable?detail=hide Holding Banks Accountable by Shaun Donovan (note authorship on article says Shaun Donovan and Eric Holder Daily Kos , Wed Feb 15, 2012 at 11:40 [...]

  • Yes, it was completely idiotic for the ACA to have delayed implementation. In comparison, when Medicare was created, it was implemented within the year and enrolled over 19 million people – back in the day of pen and paper!

    After truly understanding the back story of the public option and its demise, I am beyond cynicism as far as concerns the words of President Obama matched against his actions.

    Now I am seriously wondering if he and his administration wanted health reform at all and wondering if the Constitutionally suspect mandate combined with delayed implementation was really just a giant poison pill for reform. Pretend you want reform, pass reform, but don’t implement it, and then let it get chipped away and then finally killed off.

    Huge chunks of the ACA have already disappeared – the CLAS Act part which was supposed to provide a long term disability insurance and home health assistance is gone, and the federally defined minimum benefit is gone, given back to the states to define so that once again we will have a checkerboard of health coverages.

    Some good did come out of the act – most especially the high risk pools for people with PEC. While some lives may have been saved, the cost of the HRPs remained too high to help many in need. They were supposed to be severely underfunded, but that turned out not to be an issue once the numbers were winnowed through the affordability factor.

    If ACA had been implemented in its first year, like Medicare, the millions of Americans with PECs, small business people, the underemployed, the unemployed, the older but can’t get Medicare crowd, the young adults, all those people could have come under the ACA umbrella and they would have fought tooth and nail to preserve their coverage. They and we may never get to experience the reform.

    If the ACA is undone, we will be back to square one. At that point, perhaps we can finally throw off the shackles of the worst healthcare system in the developed world and create a Single Payer Universal Healthcare system and this interlude will just seem like a bad dream.

    This whole Obama first term is seeming like a bad dream of poorly designed programs and broken dreams.

    Aside from healthcare, how many Housing and mortgages fixes have been rolled out in the last three years? That haven’t worked and have done nothing to stem the foreclosure tide? How have they done with upholding the Rule of Law and fighting the pervasive corruption in our financial system?

    I’m starting to have a new theory about Obama and his administration – Feigned Incompetence. People that smart can’t be as dumb and ineffective as they appear to be. The slogan for the re-election campaign can be –
    We Tried (Just Not Very Hard).

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