Friday, 08 October 2010 07:17
'A bill that homeowners advocates warn will make it more difficult to challenge improper foreclosure attempts by big mortgage processors is awaiting President Barack Obama's signature after it quietly zoomed through the Senate last week.
The bill, passed without public debate in a way that even surprised its main sponsor, Republican Representative Robert Aderholt, requires courts to accept as valid document notarizations made out of state, making it harder to challenge the authenticity of foreclosure and other legal documents.'
Read more: Obama has Legislation that will Bailout Banks (Again) and Crush Homeowners on the Edge
Friday, 08 October 2010 06:56
'This is a very suspicious operation. Terror alerts have been issued in Europe and at the same time American officials are carrying out drills of the exact same nature? Staged terror is a documented fact and as the November elections draw closer we should be ever vigilant for a possible false flag attack somewhere in the world. This attack will be blamed on Osama Bin Laden[a dead man] and his supposed group, Al Qaeda.
Operation RailSafe will begin this weekend with heightened security throughout the national rail system. Commuters will be victim to police state security all in the name of fighting terrorism. Most officials taking part in these drills have been brainwashed to the point that they actually believe cave dwelling ninjas will once again attack America.'
Read more: Possible Staged Terror Attacks As Operation RailSafe Set To Begin
Friday, 08 October 2010 06:41
'Big business and the wealthy are pouring unprecedented sums of money into the US congressional elections, according to data reported in the media over the past several days. While the lion’s share of the money is going to candidates of the Republican Party, Democrats are also raking in millions, underscoring the status of both parties as political instruments of the financial aristocracy.
Much of the spending is fueled by the Supreme Court decision in the Citizens United case, handed down in January, which reversed 80 years of precedent and declared that corporations—as well as labor unions—had the right to spend unlimited amounts of money on behalf of their favored candidates.'
Read more: Corporate Cash Floods US Congressional Elections
Friday, 08 October 2010 06:36
Major US banks systematically faked documents in order to speed up foreclosures for hundreds of thousands of homeowners, a mounting body of evidence shows. It appears likely that federal and state laws were broken in the process.
The scandal speaks both to the dimensions of the social crisis and the criminality of the big banks. The immediate cause of the mortgage lenders’ rampant cheating on foreclosure paperwork is the tidal wave of families ruined by the economic crisis—a crisis itself set into motion by the banks’ predatory lending practices. The goal was to get people out of their homes as efficiently and ruthlessly as possible, skating over legal requirements relating to documentation.'
Read more: US Banks Fake Documents to Rush Foreclosures
Friday, 08 October 2010 06:17
'European governments' inclination to apply austerity cuts in tackling budget deficits is due to a “corrupt banking system” in Europe, an economic expert says.“The European governments ... all say they have no alternative. That is because they are completely controlled by a corrupt banking system which always wants to lend money at interest if it can,” Rodney Shakespeare, professor of binary economics in London, told Press TV.
Recommending a way out of the present economic situation, Shakespeare said that the people of Europe should “demand that the European Bank provide interest-free loans for the purposes of the public capital projects of Greece.”
“The people of Europe must ... demand that they start to get interest-free loans from their national banks for the big public capital spending; and at the same time, that will cap the national debt because you can use the same mechanism to actually get rid of the national debt,” Shakespeare added.'
Read more: 'Corrupt Banking System Runs Europe'
Thursday, 07 October 2010 09:49
Please post and circulate far and wide
Thursday, 07 October 2010 09:19
Thursday, 07 October 2010 08:09
'You may have not noticed, but we are in the middle of the third major bailout of U.S. and European banks and their investors in as many years. First came the original financial-sector rescue after the 2008 collapse of Lehman Brothers, which has so far shifted an estimated $3.7 trillion in banks’ losses and problem assets to the taxpayers’ bill in the U.S. alone. Then came the European Union’s €750 billion bailout of its weaker members—essentially another attempt to stabilize Europe’s banks, which together funneled some $2 trillion into the bonds, banks, and real-estate sectors of Europe’s shakiest economies: Greece, Ireland, Portugal, Spain, and Belgium.
Now, near-zero interest rates are shifting hundreds of billions from the pockets of savers—including millions of pensioners now earning next to no interest on their investments—into the coffers of banks and their investors. This stealth bailout—effectively a giant tax on savers—is worth nearly $1 trillion annually in the U.S. alone, according to an estimate by Offit Capital Advisors. Worse, critics argue that this little-mentioned bailout isn’t just fleecing savers, it’s slowing the global recovery. By sucking money out of the real economy and into the financial sector, low interest rates are doing the opposite of what they’re supposed to do—delaying restructuring of the West’s stricken financial sector and stifling the economy instead of reigniting growth.'
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