Showing posts with label The Banksters and Robber Baron's. Show all posts
Showing posts with label The Banksters and Robber Baron's. Show all posts

Friday, December 2, 2011

Occupy Seattle swoops in around JPMorgan Chase executive - latimes.com

I would beg to differ with Dimon's assessment below that it will get better, yes it will but it's going to take 16 years at the current rate for all the jobs that were lost to come back. Something MUST DRASTICALLY change if any of us are to have a chance at a decent life any time in the foreseeable future. This just in from Turthout.org:

"Over the last three months, overall job growth has averaged 143,000. It takes roughly 90,000 jobs to keep even with the growth of the labor force. At this rate, it will take close to 200 months, or 16 years, to make up for the 10-million-job deficit in the economy." http://www.2012theawakening.org/2011/12/trends-show-women-losing-access-to-jobs.html

November 3, 2011 | 12:43 am


Occupy Seattle protesters targeted a speech by JPMorgan Chase executive Jamie Dimon
How to light a match under what has been a mainly low-key Occupy Seattle protest? Try bringing the guy protesters like to think of as Darth Vader to town.
Leaders of the University of Washington's Foster School of Business say it was a year ago that they booked JPMorgan Chase CEO Jamie Dimon as the keynote speaker at their business leadership dinner, enthusiastic about his stated belief that "the constant creation of good leaders" is the key to companies passing "the true test of greatness."
But by Wednesday, when Dimon arrived, the story line had changed somewhat.
Activists camped out in cities across the country have for weeks singled out Chase and other big banks as enemies of good government and popular prosperity. In Seattle, Chase has been the target of particular ire as a result of its acquisition of former hometown bank Washington Mutual, a buyout that put 3,400 WaMu employees out of work and left much of the former bank's downtown real estate suddenly empty.
As it ended up, Dimon's speech was a big draw on all counts: It was a sellout to the MBA crowd inside, and Occupy Seattle activists outside moved in like X-wing starfighters to the Death Star.
Protesters marched through downtown to the hotel where Dimon was speaking, locking arms in an attempt to barricade hotel entrances and waving signs: "Prosecute the Real Thieves -- Chase CEO" and "What are profits if you lose your soul?"
In another part of town earlier in the day, activists surrounded a Chase bank branch and a few briefly got inside before police pulled them out, prompting running clashes between protesters and police and arrests on trespassing charges of five people who had been in the bank.
Police said in their report that at least 10 officers were physically assaulted while removing activists from the scene of the bank protest, with two suffering minor injuries.
Pepper spray was deployed to push back protesters at the bank and later when police cleared entrances to the hotel where Dimon was speaking.
"We are hoping that by our presence at an event where he is a keynote speaker, we will let him and the larger community know that the public is no longer tolerating the misdeeds of the big banks," an Occupy Seattle spokeswoman, who would identify herself only as Ellen, said in an interview.
The Seattle Times and other local reporters talked to the Chase CEO before his speech, and he said he understood protesters' frustration with Wall Street. "They're right. In general, these big institutions of America let them down. That's not the same thing as to say that every bank was bad, every politician was bad. That's where I would disagree," he said, according to the Times.
"America has become more inequitable in the last 10 or 20 years. That's a fact," he said. "I don't personally think that's a good thing. I've been a big supporter of progressive taxes."
But Dimon also predicted that the current economic downturn would eventually reverse, and that young people looking for jobs would eventually find them. "Keep the faith," he said. "I wish we hadn't put them in this position. Remember those fundamentals always when you wake up: You are in the best country, and it will come back."
On Thursday, Dimon is scheduled to head to Portland, Ore., for a Business Alliance lunch. Occupy Portland is ready: Activists there say on their "Occupy Jamie Dimon" Facebook page that they're planning "a little guerrilla theater."
ALSO:
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-- Kim Murphy in Seattle
Photo: Protesters try to barricade the Sheraton Hotel in Seattle, where JPMorgan Chase Chief Executive Jamie Dimon was speaking. Credit: Elaine Thompson / Associated Press

Occupy Seattle swoops in around JPMorgan Chase executive - latimes.com

Monday, November 28, 2011

"It's a fraud problem, not a business cycle problem" Everything you ever wanted to know about the meltdown but the bullshit news media will never tell you

William Black put over 1,000 bankers in jail
during the S & L crisis

When someone takes the time to explain it to them, people get it.

This is not a class struggle.

It's a struggle between a deeply entrenched criminal class and the productive class, the vast majority of people who work hard at work, at home and in school.

The US is being gutted from the top down much in the same way the USSR was gutted at the end of its life by its elites.

We're not dead yet and thanks to people like William Black and tools like the Internet, we may have a chance yet.

Takeaway: "It is not a few bad apples. It is an orchard of 1%'ers who a rotten to the core."

If we don't stop this now, the US as we know it (opportunity for the honest and hard working) is done for.

I try not to be too judgemental (yeah, right), but anyone who doesn't get this basic fact is an idiot.

Friday, November 4, 2011

Ohio Dem backs call to ‘occupy foreclosures’ | The Raw Story

A home foreclosure sign. Flickr commons.

 
A vote by “Occupy Oakland” earlier this week called on homeless Americans to begin occupying foreclosed and abandoned structures as squatters — and Congresswoman Marcy Kaptur (D-OH) couldn’t be happier.
“Thank you, Occupy Oakland,” she told Raw Story this week. “Thank you for caring about families who have been victimized by Wall Street greed.”
Kaptur has been one of the leading homeless advocates in Congress, going so far as to call for people facing foreclosure to squat in their own homes and demand their bank produce the home’s title before kicking them out.
She’s advocated a strategy known as “produce the note,” which challenges foreclosing banks to prove that they own the mortgage. During the years leading up to the financial crash of 2008, most mortgages were bundled up into debt-based derivative investment schemes, then sold and resold again. This has led to an epidemic of missing or improperly completed paperwork, something that many people can leverage in order to stay in their homes longer.
“She said on the House floor and has made the same point many times since then: homeowners should not abandon their homes just because they receive a foreclosure notice,” one of Kaptur’s aides told Raw Story. “What she had noticed in our area of Northern Ohio is that people were scared and would flee as soon as the foreclosure process began. She told them to stay in their homes and get legal help. If they couldn’t afford an attorney, call legal aid. If they still had problems finding an attorney, call her office and we would help them find help.
“But her message was consistent: don’t just give up your dreams. Fight for your rights. Many people left their homes before they had exhausted their legal remedies.”
While that’s slightly different than what “Occupy Oakland” called for — they want people occupying structures that they didn’t ever really own — it didn’t deter her enthusiasm for it.
Even so, there’s still some leverage to be had simply from squatting, known under the law as adverse possession. For one, the property owner must make a complaint to police before an eviction can take place. With so many foreclosed homes around the country, that’s a tall order for any bank to fill, making squatting seem like a plan that virtually guarantees homeless families at least a little time off the streets.
The call from “Occupy Oakland” to re-take foreclosed structures is only the most recent movement against bank-owned properties sitting vacant. The advocacy group Homes Not Jails recently teamed up with “Occupy San Francisco” to begin occupying hundreds of empty homes, giving homeless people places to stay and asserting the rights of squatters across the city in an effort to build it into a real political movement. A similar effort has been ongoing in Portland, as well.
Rep. Barbara Lee (D-CA), who represents Oakland, did not respond to a request for comment on this story. She did, however, make a general statement in support of “Occupy Oakland” and their call for a general strike taking place Wednesday, saying she’s in favor of “bringing attention to the great inequalities that exist in the United States.”
“As the movement grows, we are likely to see more actions aimed at underscoring the inequalities faced by the 99% and we should support actions with these aims in mind,” her prepared statement reads. “I continue to stand with the peaceful protesters in this struggle for economic justice and equality.”
Photo: Flickr user respres.
http://www.rawstory.com/rs/2011/11/02/ohio-dem-backs-call-to-occupy-foreclosures/#.TrGLAh09RUI.twitter

Thursday, November 3, 2011

It's The Accountability, Stupid (or Lack Thereof)

By Brad Friedman 
27th October 2011 

As there are still a number of brain-dead and/or entirely corrupt and/or entirely dishonest phonies who, even now, pretend they're unclear on what Occupy Wall Street's message is, Dahlia Lithwick smartly dispatches with their hooey today [1]. Those folks aren't really worth our time.
But the fact is, the wholesale takeover of the American government by corporate "persons" --- and the (at least) 30 years of corruption and crapping on the middle class that has come with it --- has some 99% of us with a long, 30 year-list of complaints. They don't easily fit on one single bumper sticker. Ultimately, though, there seems just one thing that underscores all of those complaints: the end of any real accountability for every one of those corrupting influences and often criminal acts.
It has become almost unimaginable that flagrant lawlessness by the elite --- be they in government or corporatist America --- will ever be met with any sort of real accountability, any kind of accountability that might actually dissuade others from the same behavior in a way that might serve to reverse the ever increasing race to lower the bar below ground. That, I suspect, is the frustration at the heart of every Occupation and ever Occupier or those who support them in the country.
Two back-to-back interviews on Tuesday night's Rachel Maddow Show seemed to make these points as plain as could be, and one even offered some hope in the bargain. The first was with NY state Attorney General Eric Schneiderman who actually suggests he gets it, and is actually pursuing real accountability, with real investigations into criminality by the banks and the banksters before, during and after the explosion of the mortgage crisis. We'll see if he means it (or if he gets "caught" with a hooker first.) The second interview was with Constitutional attorney, Salon blogger and author of the new book, With Liberty and Justice for Some: How the Law Is Used to Destroy Equality and Protect the Powerful [2], Glenn Greenwald.
Key points on accountability from both interviews are excerpted below, and the full videos of each are embed below that. Both are worth reading and/or watching in full if you haven't. It's about the accountability, stupid...
* * *


NY ATTORNEY GENERAL ERIC SCHNEIDERMAN: ...[The housing and financial crisis] was a manmade crisis. It was created by regulatory neglect and greed. I assure you, without telling you about secrets of our investigation, we have not found a trace of evidence that a cop, firefighter, teacher, or sanitation worker contributed to blowing up the American economy. So, we're digging in and think we can do more. We think we're going to be able to obtain real meaningful relief. There are 11 million whose homes are underwater not just in Arizona but all across the country. We think we have to hold accountable to people who caused this disaster. And just as important, as I say, we got to get this out in the open so they can't rewrite history. I mean, Mr. Romney's comments, "we should just let things hit bottom" --- this is the same sort of deregulatory mania that they were dishing out in 2005 and 2006. That didn't work so well for the economy.
RACHEL MADDOW: Did this catastrophe happen because --- as far as what you have been able to determine so far --- because deregulation proceeded to a point where banks could act legally in a way that was nevertheless, dramatically, fiscally irresponsible? Or are we looking at a case of potential illegal behavior --- behavior that was against the law despite the fact that they had been so deregulated?
SCHNEIDERMAN: Well, that's why you have an investigation. There may well have been a combination of the two. There's no question that they dismantled a lot of the safety mechanisms that have protected our markets for a long time. But, you know, we're also looking at the conduct of individual institutions and individuals to see if there were misrepresentations made, to see if there was fraud committed, to see if criminal acts were also a part of this. And that's what [Delaware Attorney General] Beau [Biden] and I are looking at and we're determined to follow it through until we get the relief the homeowners need and hold accountable the people who caused this.
MADDOW: That issue of holding people accountable is a guttural instinct in American politics now because we know the fiscal crisis was a manmade crisis. We know that this was something that people did the wrong thing and thereby hurt the entire country. And the country is still paying but nobody paid for what they did. That is --- that's just a base raw feeling that's driving "Occupy Wall Street" protests right now --- but I think it's also driving a lot of anger in the country, left, right and center.
You and Beau Biden have jurisdictional opportunities here because of where institutions are incorporated that had a lot to do with these problems. Is there more that could be done at the federal level right now, starting now in 2011 that hasn't been done? Are there demands that should be made both of the administration and the Congress in terms of ways they can hold Wall Street accountable?
SCHNEIDERMAN: Well, it's challenging for the president because the Republicans in Congress have essentially openly declared they'll do things that they know hurt the American people just to prevent him from getting a win. But as you say, we do have jurisdiction, because the mortgage-backed securities that brought down the country were all issued out of New York trust or Delaware trust.
We're pursuing it. And you're absolutely right. A lot of folks look at "Occupy Wall Street" and the other occupations and think they're fringe characters. I hear the same sense that we don't have one set of rules for everyone anymore, that people are not held accountable for misconduct. From every average American you run into, anywhere else, in a community hall meeting, in a diner, all over New York state, I'm sure all over America-- there is a sense that equal justice under law is no longer the rule for this country. And we got to get that back.
I mean, as much as the economic damage is terrible, for Americans to lose the sense that this is a country where law governs and you're not above the law and you're not below the law --- I mean, you know, the law applies to everyone. The sense of accountability is one of the key motivators for our investigation and there are other A.G.s who are coming our way. I think there are actually going to be quite a few investigations before this is over.
MADDOW: As New York state's attorney general, am I right that your office is quite near the Lower Manhattan "Occupy Wall Street" encampment?
SCHNEIDERMAN: It is, right across the park.
MADDOW: When you --- when you look --- from what I hear you saying right now, my sense is when you look at the folks out there protesting every day, you have some sympathy for what they're doing?
SCHNEIDERMAN: I, you know, I see them as part of a --- they're the tip of a much bigger iceberg. I spend a lot time traveling around the state. I have 13 regional offices. And I assure you that if anyone who thinks the American people have gotten over their anger at the bubble and the crash, over their sense of betrayal that the fundamental American idea of equal justice under law has, you know, really been let go by the wayside --- they're wrong. People are mad. People want --- not because they're hostile or vicious, they just want to know there's one set of rules for everyone. I don't hear that much different in most of the "Occupy Wall Street" folks from what I hear everywhere else in the state as I travel around.
MADDOW: New York State Attorney General Eric Schneiderman-- thank you for taking the time to talk to us tonight. Again, I know you don't do this often. I really appreciate it.
SCHNEIDERMAN: Thank you.
MADDOW: And I would just say that in terms of looking at accountability issues and Wall Street and where "Occupy Wall Street" goes and that feeling in the country-- keep an eye on New York state Attorney General Eric Schneiderman and also Delaware Attorney General Beau Biden. Set Google alert on these guys. Just watch what they do. That's all.
* * *


RACHEL MADDOW: You highlighted the pardon of Nixon as an important sort of political inflection point in modern American politics. What of that rationale do you still see surviving in American politics? GLENN GREENWALD, AUTHOR, "WITH LIBERTY AND JUSTICE FOR SOME": Look at the last decade of --- when you see enormous numbers of crimes being committed, egregious crimes by the most powerful people in the society --- the creation of worldwide torture regimes, spying on American citizens without the warrants required by criminal law, an aggressive attack on Iraq, various aspects of obstruction of Department of Justice, the destruction of evidence, the courts and the 9/11 Commission ordered to be preserved.
And the private sector, you see massive fraud precipitating the financial crisis, mortgage fraud on a systemic level, telecoms participating in the illegal spying --- none of those, they are not bad policy decisions. They are not immoral acts. Those are crimes. None of them have led to meaningful criminal investigations, yet alone criminal prosecutions or accountability.
And the reason is because we now are a country that explicitly argues that political elites and financial elites, private sector elites, should be immunized from the rule of law because all the things you pointed out were argued by Gerald Ford to justify the pardon of Richard Nixon. It created this precedent and this mindset that is now seeped into the private sector as well that the rule of law is only for what "Occupy Wall Street" calls the 99 percent.
MADDOW: And that is an important --- that last transition point, that it became not just something --- not just an unpleasantness to be avoided, but it became an active political good to insulate elites from accountability for the good of the institutions that they represent, for the good of the nation's stability, that justified all of the pardons of the Reagan administration officials after Iran Contra. It's what you say - you name a chapter, "Too Big to Jail" as opposed to "too big to fail," coming after our discussion with Eric Schneiderman, New York's attorney general who does not believe in too big to jail. How did it become an active political good to excuse wrongdoing rather than just bad to be avoided?
GREENWALD: Well, keep in mind, there's a big split on this question between media and political elites on the one hand and ordinary Americans on the other. So, as you pointed out, the pardon of Richard Nixon was something that triggered revulsion among the American population. You even listen to it now and you recoil at the idea that this criminal, this clearly fragrantly criminal individual, Richard Nixon, was simply protected by virtue of a status, at the same time that hundreds of thousands of Americans were being prosecuted for trivial offenses.
And so, what you see is that there's an elite class that supported that pardon and it continues to say, we cannot have investigations of the Bush torture regime. It was good that Casper Weinberger was pardoned because he's a good man who doesn't belong in prison.
And so, you see this elite class whose interest it is to maintain this elite immunity constantly arguing for it, whereas if you look at polls, it's not just the pardon of Nixon that triggers revulsion. At the beginning of the Obama presidency, large numbers, large percentages of American, majorities, wanted investigations into what the Bush torture scheme, whether the eavesdropping program, whether the obstruction of justice were criminal and illegal because inculcated in the American mind is the idea that we are all equal before the law. And it's because we're not you see citizen anger and loss of faith and legitimacy of political institutions.
Between the thoughts in those two interviews, that just about nails it. That's where we are. That's why we're here.
* * *
Both 10/25/11 interviews are posted in full at Brad Blog thru the link below..
http://www.bradblog.com/?p=8872

Wednesday, November 2, 2011

A Stark Reminder why the 99% are Occupying

Foreclosure picture: children in a house in Colorado -- for best pictures of October photo gallery

Foreclosure

Photograph by John Moore, Getty Images
Children lie in an empty living room as an eviction team removes their family's furniture during a home foreclosure on October 5 in Milliken, Colorado. The owners had stopped making mortgage payments some 11 months before, and the bank took possession of their home, according to Getty.
Foreclosures began to slow last fall when problems surfaced with the ways some lenders were handling paperwork, according to the AP. In response, many of the country's largest banks temporarily ceased all foreclosures.
But now the number of first-time default notices being issued has increased, AP reports, signalling renewed activity that could soon see an uptick in the number of active foreclosures.