In light of all the news recently carried in the mainstream media reports of all the homeowners that are now being stalled, waylaid and denied sums under Obama's much ballyhooed "foreclosure rescue" and with all the monies thrown at these banking institutions and "new jobs" for those greedy realtors and ex-mortgage banking officials now restructuring or counseling some of those victims, it appears to be time to take a step back and probe a little deeper into the hows and whys of this situation.

Is there another agenda here that is the true goal in these continuing outrageously escalating actions coming off the Hill?

While many of these homeowners are awaiting word and the processing of their applications, the banks are continuing to collect those outrageous sums that were in some of those loans marketed which were at sub-prime and interest only flex rates and that are the subject of the bulk of the type of offered in the last ten years primarily, and under terms most of those homes have been or are in foreclosure. 

Tacked onto most of those loans were significant late fees for late payment, processing fees, reappraisals, junk fees which are once again now being collected against those homeowners in these restructurings while they are "pending.".

Of course,literally hundreds of thousands have and had already lost theirs when this downturn and tsunami began back in 2006 for real.

Another 300,000 in July according to RealtyTrac also saw their homes go on the auction block, and Bank of America, based out of California (one of those who received a massive amount of those bailout sums) reported it has only renegotiated 4% of its existing loans that were "at risk."

The head of Countrywide Loans, also based out of California and "assumed" by Bank of America under the terms of bailout (with Bank of America then being "assumed" by Merrill Lynch, a Wall Street investment house), was placed in charge of renegotiating those loans, and would assume that he is the official reporting on the Bank of America stats.

Interestingly though, Merrill Lynch's name has been kept for the most part out of this process.

Most of those subprime offerings were rebundled and resold over the stock exchange, many to foreign investors. Washington, of course, afforded Wall Street to "globalize" the U.S. economy with that of other nations progressively, so much so that now when an earthquake strikes in the Far East, the economic impact is felt now in Middle America.

Compromising in so doing the U.S. economy and American citizens economies also progressively in the process.

All of these "economic forecasts" with respect to the economy that the Fed releases, and those economists on Wall Street on the mainstream media networks that have been reporting recently that economic indicators are looking more "hopeful" are evaluating those economic indicators with respect to the global economy and not the U.S. economy at all.

So when they predict that this economy will "rebound," they are speaking of the world's economy - not the United States or average Americans.

In fact, it is the average Americans now in the loss of their homes and jobs that are being asked to sacrifice now in the name of "global socialism" of this economy for the Wall Street bankers most of all and global stock exchange, not simply Wall Street and the NYSE.

And, of course, also by our own Federal Reserve which is owned by several prominent European banking houses since these debts are being added and "billed" to the U.S. and America in order to "stablize" the global economy.  Americans now eating the debt for foreign investment bankers across the globe.

At this point a fundamental question thus must be asked: Could this be simply a rather sophisticated Federal Reserve/Washington pyramid scheme along the lines of Bernie Madoff?

These renegotiated loans and loan terms which even are being executed from all reports are similar to the old ones. Not fixed, low interest loans. But flex adjustable or "interest only" ones, along the same lines as the old ones. Some still are being based on the European markets LIBR rates and not that much ballyhooed "zero interest" Federal Reserve "prime" rate at all you keep hearing about in order to pump up the Fed's image with Americans.

It is also clear another fundamental question needs to be asked in light of all these reports now on the "stalls" after pouring literally billions into those Fed branch banks in order to assist American homeowners "at risk."

Are those banks really actively attempting to save these American homeowners from losing those properties, or merely acting as "agents" for Wall Street and Washington in renegotiating or "buying down" some of the foreign investors who bought some of those securities, while continuing to collect those outrageous sums and fees from American homeowners while, for all intents and purposes, those banks ultimate aims are to simply score a piece of real estate for the bank then future profit and gains in the turnover or flipping of them?

And in satisfying some of those foreign investors who invested in these rebundled "risky" investments in the first place, are these banks under that bailout bill which was sped through Congress so quickly last September offering "shares" of these American banking interests in satisfaction for their investment, thus the aim truly is further amalgamating our economy with that of the world in shares of now even U.S. banks owned by foreign interests with Washington's complicit and express consent outside Constitutional authority and thus treason of it? 

It is clear that the founders in fighting a war to break free from foreign dominion and control in that War of '76 established a "union" of soveign states and our economy was never intended to be merged with the global one to begin with in any manner whatsoever as a sovereign nation established for just such purpose -sovereignty over foreign dominion and control   

In effect it appears clearly that Washington is using those banks which they continue to claim are "private" banks although publicly owned and branches of our governmentally created Federal Reserve in order to secure America's position in Earth, Inc. and also in what appears to be the ultimate aim of a totally merged global economy and in effect then world government in the process?

What is also interesting now to take note of also due to news coming off the Hill is where 77% of those foreclosure actions are located, and which banks were involved in marketing in those states.  The top five states on the list just so happen to also be border or Sunbelt states whose primary industries are tourism, both domestic and global.

All have also had significant increases in local taxes and insurance rates which have skyrocketed due to the massive costs of the illegal immigrants who also live within those states and for which those states citizens have been subsidizing since the last Reagan amnesty in the 1980's.

Due to the focus on tourism as a state industry, that industry is one of the primary employers of those illegal immigrants for those resorts, restaurants, casinos and developers who prefer hiring this cheap labor in order to skirt around the added costs that are involved in hiring Americans due to withholding taxes which are mandated to be withheld for Social Security, unemploment compensation and the like.
And a host of other regulatory provisions on the workplace and license standards that are required for those in the construction industry, another major industry which hires and prefers this cheaper labor.

Is it the intention of Washington to then, after force feeding another illegal immigrant amnesty as appears is now also another of Obama's plans even after the American people had spoken loud and clear in 2006 under the Bush Administration with respect to this issue, in manipulating this crisis and forcing prices of homes in those states down now for over three years the purpose to then have available a great deal of housing in order to resell by those banks or "flip" at such time and after those banks raped lawful Americans during this "foreclosure rescue scam" for those over 12 million illegal immigrants?

Foisting then off those foreclosured upon properties and subsidized with also taxpayer monies involved (including the tax monies of those foreclosed upon owners) in those still ursurous loans that will then be sold to many non-English speaking newcomers with the legalese and fine print involved that many Ameicans were duped into signing by those banks and realtors for their profits most of all, in order to then set up these "new" Americans for the next wave manipulated by the Fed and Wall Street? 

Many of those loan terms are being extended to 40 YEARS for those mostly poorly constructed stucco and chicken wire homes so that in another 10-15 years this cycle will be repeated, as this cycle is no mimmicking that of the 70's recession (although far worse) in their market and currency manipulations for the "global" marketplace playing roulette with people lives and homes in the process for their own amusement and gain?

Bankers make profit when homes turn over, not when citizens actually pay them off. And the greater the turnover rate, the greater the profit.

The Bosnian refugees were given automobiles by the Clinton administration for those mostly scientists who were the bulk of those immigrants taken in at that tiime. Many American children can report on the brand new cars their fellow Bosnian students were driving courtesy of the American taxpayers and Uncle Sam.

It was also reported that over 20,000 deemed "vulnerable" Iraqis have also been taken in during this war. Many of them middle class. And due to the border "drug war" (in name only since our southern borders still remain unsecured eight years after 9/11), many middle class Mexicans have bought a great many of the houses in the San Diego area recently that were part of the original wave three years ago.

Nevada (a high tourism and casino state, and thus a high illegal immigrant employment state) had the highest foreclosures last month and topped the list.

Is this how truly low those in Washington have sunk in order to desecrate the very government the founders fought and died for merely 200 years ago, while waving the flag and claiming how much they "love" America?

Which America are they speaking of - the America of Ben Franklin, Thomas Jefferson, James Madison and John Adams?

Or this new one under a world government more similar to that of Hitler, Stalin and Lenin?

With the people merely the worker bees for the "great good" of world socialism, and their homes and properties theirs for the taking?

Obama's getting REALLY desperate at this point about his plans to force the industry sponsored health care reforms down the American people's throats come hell or highwater.

Proof?  At a recent townhall type meeting, Obama used the "threat" of a worsening economy if health care reform isn't done, and isn't done now.  He pointed to his "success" in the recent announcement that there had been a drop in unemployment rates last month, the first one since August 2008.

Not mentioning, of course, that that drop just may be due to the fact that many Americans unemployment benefits at this point have run out, or that there is temporary and seasonal jobs available during the summer months that our college students used to have that are now being filed by those with masters degrees, or at least bachelor's.

Also, failing to mention that last month there was also a 7% increase in the number of home foreclosures over the month before, with another 300,000 losing their homes.  If Americans have lost their homes and jobs, just how ARE they going to afford any health insurance coverage at all, be it government issued or private carrier?  The hypocricy and spins are getting more and more ludicrous by the day.

Mr. Obama's "foreclosure rescue" remedy is now being used by those banks apparently in order to stimply buy down the debt and repay on some of those foreign and rebundled investors' investments, while continuing to collect the usurous late fees, interest, appraisal fees and costs on those homeowners until finally lowering the boom.  A scam, as it were, dressed as a rescue for homeowners in order to skirt around the government's unlawful actions in affording those banks to resell those mortgages on the secondary market in the first place.  And who are merely using the Federal Reserve branch banks in order to now satisfy those investors, after raping the American people of their homes anyway.  Many of whom paid down payments that were far in excess of minimum downs also in order to even get some of those predatory loans they were marketing. 

Most sold out of sunny California, where Silicon Valley is profiting actually the most now in the "science based" technology focus of this and the last administation and the war in the Middle East, while then still claiming poverty in the process.  Disneyland doesn't end at the parking lot after exiting the tram in that state.  No do white collar criminal activities, and maybe the welcome signs should remove Arnie's name as Governor, and replace it with Jack Sparrow.

The only economic strengthening measure that would result from this heinous legislation at this point would be when those privatized state and federal lockups are turned into debtor's prisons for the stimulus of those "corporate" entities, and strengthening the economies of mostly the banks when the new usurous payday loan sharks afford the young then to open up medical 401(k)s for their future medical needs.

I really wouldn't put it past those banks that this health insurance reform is simply another stimulus for the banks, in order to diversify and rape the American people with their outrageous loans, fees and charges some more.

Since a good many of those insurers also hold massive Wall Street investments also in those Fed branch banking institutions.  As do most in Washington.

Appears this bill is meant to strengthen the economies of the Tories on the Hill most of all.  If not, then why is there no provision that, as civil servants, they MUST be covered by the cut rate governmental plan, and buy THEIR own supplements with their six figure salaries out of their also taxpayer paid Cadillac federal pension plans?

 

For Any and All American Constitutional Conservatives:

During the last week there has been a great deal of reporting on internet sources that the mortgage crisis and home foreclosure situation is looking up, and that there has been an increase in sales for the third straight month of homes sold throughout the nation.

And just where are those figures coming from?

No surprise, the National Association of Realtors who just might have an ulterior motive in spinning or inflating the numbers due to the market conditions at the present time, and number of jobless and homeless now which has swept the nation since the manipulated "mortgage" crisis and bank bailouts which just so happened to occur during the last presidential election cycle.

In fact, the June 19-21 headline of USA Today also said it all:  Foreclosures Heading Through The Roof."

More Americans are lining up at the soup kitchen, than at the realtors offices, since the homeless now and jobless stats are really off the charts and not this high since the last great depression, also manipulated by the European owned Federal Reserve, branch bankers and Washington.

As far as my personal knowledge and reports from my former home state of Arizona, one of the states hardest hit due to the boom and bust cycle and the many retirees on fixed incomes that also were hard pressed to come up with increasing property taxes and insurance which contributed to some of what is occurring also left out by the media, and those predatory "interest only" and other "creative" loans sold mostly by regional and national California domiciled banks, this claimed increase in sales and "recovery" appears to be wishful thinking.

In Arizona, California, Michigan, Nevada and Florida due to also progressive overbuilding in those states for literally decades, and now thousands unable to qualify for fixed rate low interest loans with black marks on their credit records at this point, it will take literally decades - if ever - for the housing market to stabilize, from this 45 year Arizona resident. 

In those western border states now in particular, due to the open borders situation I'm sure that also has affected the marketability of those houses significantly, since who wants to live in a state in which there is a foreign invasion and civil wars now going on due to federal negligence in "providing for the common defense," its actual primary function.  Instead of now attempting to "reform" the health care industry according to a "business" model ala Soylent Green and Adolph Hitler on cost/benefit actuary "business" modes and standards.

Plus the fact that few now in this country trust the banking industry now in general.  Nor are willing to go into those sliding scale and interest only loans that they are still marketing, some of which are not even based on the U.S. prime interest rate, but the European market.

Nothing essentially has changed which lead to this catastrophe to begin with.  And most in the boomer generation or younger have moral difficulties paying "usurous" sums in order to purchase a home, a home which is now in many areas of the country due to the loan terms nothing more than a foreclosure contract to begin with.

So...nice try, realtors.  Since a great many of you also pushed and marketed to many of those retirees and others more home than they really could afford in order to get higher commissions also in the process, the trust in your "industry" also now is about zilch.

Especially those of us who lost ours, and who have made sure we speak the truth, rather than the spins, on just what lead to this, and the commercial and banking interests that were truly responsible - of course, along with the criminal element now residing on Capitol Hill and in our state legislatures who have been in collusion with the corporate interests and their primary "special interest" campaign backers for literally decades.

And the National Association of Realtors is high up on that list also. 

Along, of course, with the bankers and their minions - the foreclosure lawyers and scam artists and their breathren in federal and state government.

Timothy Geithner, the magician and "jack of all trades, master of none," now acting as trustee for the American people on the bank bailouts, AIG foreign corporate bailout, and automakers bailouts (with California whining in the wings) recently met with Chinese officials and predicted that the global recession "seemed to be losing force." 

Of course, this has come at the cost of selling off shares of U.S. major businesses and industries to the global market, in order to "stabilize" the global economy, in effect further continuing to destroy our own.  

That's the downside of corporate globalization and Washington's "hands off" approaches and collusion in socializing the U.S. economy, rather than protecting American interests and effectively regulating corporate mergers, acquisitions and any "outsourced" offshore expansions.

Saving a British based insurer, AIG, and selling off parts of the automobile manufacturer which until not too recently was responsible for 3% of the United States GNP apparently is not too steep a price to pay for Mr. Geithner to continue to equalize the global scales, while those in Detroit are eating pork and beans, yet the AIG executives were entitled to stress breaks at one of California's four star resorts.

The Chinese, of course, got their bite of the apple in the reported sale of the GM Hummer Division to a Chinese concern.  Apparently so did the Canadians with protection of their union Teacher's Pension and Mexico, from all reports.

This, of course, is in addition to all that labor and the export imbalance due to the Chinese providing a great deal of the manufactured goods here in the United States for one of the major retail chains, Wal-Mart, whose wealth if it were one of the countries in the now "global community" would place it fifth in GNP.

He also apparently reassured the Chinese that the debt that has been amassed during this trade in assets is fundamentally secured due to the United State's "liquid" financial markets. 

It appears the liquid Mr. Geithner might be referring to would be that of mercury - "now you see it, now you don't."

So, although we may owe the Chinese government a great deal of debt on paper, exactly how DID they accumulate all that wealth to begin with?

I hope Mr. Geithner gets around to answering that question,  when he has time and a break from shuffling all these  country's assets around, before he eventually ends up selling off some of our prime real estate, such as  the Grand Canyon or Redwood National Forest.

By the way, did I mention according to the article, Mr. Geithner's father worked in China, and is a former employee of the Ford Foundation? 

 http://enews.earthlink.net/article/top?guid=20090531/4a235240_3421_1334520090601-1322814282

In the continuing saga of the AIG executive bonuses which were extended Sunday by Timothy Geithner and the Department of the Treasury, another player has stepped up to the plate in addition to President Obama's rather weak excuse for an apology to the American people over this "sleight of hand".

Christopher Dodd, that erstwhile senator and former Presidential candidate, has now taken the blame for inserting a sentence into the bank bailout bill that was rushed through Congress last September that afforded the AIG executives to receive these million dollar bonuses.

It appears with Mr. Dodd's "mea culpa" another attempt for those on the Hill to now shift blame from the President and Mr. Geithner, and of course hope on the generosity of the American people to let bygones be bygones. Let's spread the blame around so that we can actually take the focus off what occurred initially that lead to this situation, and blame it on one Congressional member who inserted a sentence in the bill that make the entire bailout itself somehow seem legitimate.

There are two things wrong with this little deception. Many in America are not buying it.

To encapsulate actually what occurred and who is truly to blame, note below:

1. In September under "terrorist warnings" from Secretary Henry Paulson all members of Congress were held over in Washington from their campaign junkets in order to address this "emergency" bank bailout. Otherwise, the American people were informed, Wall Street would crash and their ATM cards would not work.

2. Prior to this catastrophe, two other large financial institutions, Goldman Sachs and Lehrman Brothers, also faced eminent demise. Congress refused to bailout Goldman or Lehman Brothers, although Warren Buffet stepped up to the plate and helped out Goldman Sachs. It just so happens that both Goldman Sachs and Lehman Brothers are part owners of our own Federal Reserve. How they could be then "bankrupt" is beyond the realm of feasibility for most Americans to comprehend.

3. For the first time in history not only were U.S. based corporate interests involved in this bailout, but a globally based insurer, AIG, was also begging on the steps of the doors of Congress. No matter also that many of these banks and AIG had been heavy contributors to the campaigns of a majority of those in Congress to whom they went begging.

4. The bill was drafted in haste in order to rescue America's economy, and consisted of enough pages to insure that any disinterested Congressional member had no time in order to digest the terms of the bailout. This does not excuse them in any manner, however. In such an instance it was their duty to abstain at the time from voting based on those grounds, and the clearly questionable Constitutional basis for this entire bailout to begin with at the eventual American taxpayer's expense.

5. The measure passed with just a mere two vote margin. Which historically indicates that there was some heavy back room dealing, and also still maybe some who did have enough integrity left (few, I know) to realize the entire bailout itself was a violation of our Constitution by the mere inclusion of a foreign corporate concern at it's outset. AIG's real financial problems, if any, were caused by their London Mayfair office, from all reports.

6. Included within the bailout were other unconstitutional provisions. Namely, a transfer by Congress of their Constitutional powers with respect to foreign agreements, whether public or private, to the Executive office. Such a transfer of power could not legally be accomplished without a Constitutional amendment in and of itself.

7. Rather than this being handled as a corporate restructuring under the provisions of the U.S. bankruptcy code, Mr. Geithner was strictly given unilateral oversight and authority. In other words, Mr. Geithner is now acting as "trustee" for the restructuring, and his "fiduciary duties" are not to the executives or AIG, but to the creditors - the American public and AIG's former stockholders. Thus, when Mr. Geithner and Mr. Obama claim they had no legal power to refuse, they not only had the legal power to do so, they had the legal obligation on behalf of the American people to do so.

And at this point, a good 2/3rds the members of Congress, Mr. Geithner and Mr. Obama should be wearing stripes about now, with all the legal and criminal Constitutional violations that have thus far transpired in this fiasco.

The Federal Government and "Mis"Representation
By Betsy Ross

In September of this year the 110th Congress passed what is now infamously labeled "the bailout bill" during a purported crisis prior to the 2008 presidential election. In a previous article, I had disclosed through research conducted at OpenSecrets.org that the recipients of the majority of those earmarked bailout sums were for banks, financial institutions, and a global London based insurer (AIG) which also just so happened to be the top corporate donors to the campaigns of both parties presidential hopeful and members of Congress, committing what actually is no more than treason upon our Constitution and system of government as watchdogs over the public purse for expenditure of public sums for it's enumerated powers and public duties.

While awaiting the final vote count during this travesty and crime committed against the American people, in retrospect now it is incomprehensible that not a single legislator had the integrity or loyalty to his oath of office to abstain from the vote process as a clear conflict of interest. Outraged as many Americans were and still are, I read the background and our Constitution with respect to the original provisions in the election of true representatives of the people as they had intended. Amazing how brilliant those men truly were.

Just think if we returned to the manner they intended how our economy and all else would change. As originally intended, the state legislators themselves elected the Senators from among their various legislatures to represent the states in Congress (no campaign finance problems here), and the representatives of the people were only allowed to accept campaign donations from individuals and/or small businesses within their district (no campaign finance problems there either) and voting precincts. Net result: Constitutional government, and no political graft or pork benefits. No trillion dollar deficit.

Those banks and AIG did not make those campaign contributions, after that bailout bill was shoved through Congress, the American people did - whether they supported those candidates or not. Those entities simply loaned those candidates sums to fund their campaigns, and quite obviously at an interest rate that would feed a third world nation, such as ours is becoming due to the political corruption running rampant in Washington.

The only "change" which appears occurred this election cycle was a "change" in the manner in which even the ridiculous campaign finance laws that are now in effect are being creatively circumvented, and the continued anarchy upon our Constitution continues unabated and which have hit new lows in corporate fraud against the citizenry. The corporate privileges and immunities now given by Washington includes reimbursing them for their campaign contributions from the public purse. Or taking out interest bearing loans to fund their campaigns while billing it to the American people under a fraudulent bailout bill just prior to an election and stating that it was done in order to protect Joe Citizen's 401(K) painting themselves as the saviors of middle America.

Even Benedict Arnold didn't sink that low in his treason against our nation on behalf of London or compromise our sovereignty and economy to such a degree on behalf of sovereign subjects or corporate welfare. He simply took up arms and joined the other side, but didn't feed the founders or this nation, it citizenry and their posterity's future to the wolves.