Political commentators ranging from those of the Propaganda Channel (otherwise known as the Fox”News”Channel) to Chris Matthews are enamored of referring to the “Far Left” of the Democratic Party. It is also known among that ilk as the “Pelosi Wing” of the Party (although one wonders what the wealthy lady from San Francisco ever actually did other than shepherd the Health Insurance Industry Subsidy Act of 2010 through the House of Representatives, strongly support repeal of DADT, and bring to the floor much mainstream Democratic legislation that was never even taken up by the GOP-controlled Senate).
Looming losses from the mortgage scandal dubbed “foreclosuregate” may qualify as the sort of systemic risk that, under the new financial reform bill, warrants the breakup of the too-big-to-fail banks. The Kanjorski amendment allows federal regulators to pre-emptively break up large financial institutions that—for any reason—pose a threat to U.S. financial or economic stability.
Although downplayed by most media accounts and popular financial analysts, crippling bank losses from foreclosure flaws appear to be imminent and unavoidable. The defects prompting the “RoboSigning Scandal” are not mere technicalities but are inherent to the securitization process. They cannot be cured. This deep-seated fraud is already explicitly outlined in publicly available lawsuits.
“Maybe this is like shock therapy. Maybe this will actually get the lenders to the table and encourage them to work out deals that are to the benefit of everybody.”
–Economist Karl E. Case, quoted in the New York Times
The hits are coming fast and furiously. Major Wall Street mortgage lenders could soon be falling like dominos – and looking again for handouts. Continue reading
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In yet another odd coincidence, Alan Grayson led a Congressional delegation that just happened to be in Niger at the time of the recent military coup last Thursday that deposed the legitimate elected government of the Uranium-rich nation.
The official story is that the members of Congress were focused on science, technology and humanitarian relief – at the very same time that the military coup was unfolding on the streets of the capital, Niamey.
This intriguing “coincidence” raises the question: Was this Congressional presence during a military coup another instance of a massive intelligence failure or something entirely different?
Note: with the talk of Grayson being “saved” by Blackwater in Niger, please see this post: The Uranium Coup by Michael Carmichael
January 22, 2010
Learn more at http://rethinkafghanistan.com
The Supreme Court’s recent decision to open the floodgates and allow corporate funds to be used in federal elections will further strengthen the influence of the military-industrial complex. We talked to U.S. Rep. Alan Grayson (FL-08) about his efforts to push back against the influence of war contractors and other corporations in our elections.
November 19, 2009
Rep. Alan Grayson argues in support of the Paul-Grayson amendment, which would subject the Federal Reserve to a complete audit. The amendment later passed the House Financial Services Committee 43-26 as part of the underlying financial reform package.
Vodpod videos no longer available.
Updated: Nov. 5, 2009 Grayson finishes reading the list; see video below. Also added a short speech.
Rep. Alan Grayson reads the number of dead from each of the Republican congressional districts if the health care bill doesn’t pass. Note at the end of Part 3 his mic is cut off without him finishing his list.
October 21, 2009
Vodpod videos no longer available.