This just in:
Occupy Long Beach marchers, along with a parade float featuring a tent with a chicken or something following, pay tribute to Martin Luther King, Jr. on Occupy the Dream day.
Bad business: Bank of America scourge of global economy, public enemy
“This isn't the first time BofA has been involved in an erroneous foreclosure. In the past year alone, the bank has threatened foreclosure over a missing mortgage payment for $0.00, a typo amounting to $0.80 and a payment received too early. It's even tried to foreclose on a house that no longer existed.”
Only $7 trillion of your earnings were lost, so get over it:
“Since the housing bubble burst, over $7 trillion in home equity has been wiped out. Without courageous action by President Obama, more home equity will be lost, further weighing down our sluggish economy.”
What to do?
“To prevent foreclosures at a significant scale, principal reduction -- the writing down of mortgages to their actual value -- is a must. Principal reduction should be mandatory, not voluntary, for the big banks, and we should be discussing hundreds of billions in reduced principal, not tens of billions.
Again we find government regulators pushing for a deal that favors the banking sector instead of the public, a common theme and a primary cause of resentment and consternation amongst those that have been victimized. There are solutions to restoring public trust in the financial system.
That $7 trillion in losses was intended to be absorbed by homeowners and taxpayers when the scam was launched despite the fact that banking executives testified to Congress that they were as surprised as anyone that the real estate market collapsed in 2008.
Yeah, sure. There is a mountain of evidence, much of it posted here, that banking executives were profiting from the inflated values of real estate, then betting against those mortgage-backed securities on a regular basis. This alone would suggest that the feigned ignorance of those CEOs was strictly for the benefit of the uninformed, as phony as the instruments they were passing off as securities.
Fortunately, there are at least six AG's that have decided to enforce the laws that were passed to protect the public from illicit banking practices. We'll be watching closely.
Reprieve for Church: Occupy Atlanta to rescue
A 108 year-old church, another victim of a brutal economic environment, was in foreclosure and facing eviction. Occupy Atlanta heard the call:
“Johnson called Occupy Atlanta on Wednesday and asked for help. Protestors moved in Thursday morning. Then, the church was the beneficiary of a minor miracle. BB&T later in the day, called off and agreed to negotiate with the bank.”
Note the lame comment by David White of BB&T at the end of the article. The fact of the matter is that Occupy Atlanta brought attention to the plight of the church, the result being exactly what the Occupation Movement is all about (just in case anyone in the mainstream media was still wondering).
“The church said Occupy Atlanta was the main reason for the bank's change of heart. Protestors say they won't leave the grounds of the church until BB&T strikes a deal.”
Starting to get it, MSM? There is a lesson for all of those who have become “occupiers” regardless of whether they set up a tent somewhere in a public square.
Occupy LA protesters disrupted a public auction of foreclosed homes yesterday at the Sheraton Hotel, then marched through downtown to Mellon Bank:
From Dennis Romero at LA Weekly this report on “Occupy Skid Row” scheduled for Sunday:
“Although the event is being affiliated with the Occupy movement, the statement from Public Enemy's rep calls the free concert 'Operation Skid Row.'
“The press release says of D's participation.
“His 'day of action' will promote the human right to housing (inspired by his participation in the new book Freedom Now: The Struggle For Housing Rights in the United States and Beyond) and to reinforce the hip hop community's responsibility to social justice causes.”
Looks like the cops are going to have to make another judgment call on this one if the permit is a point of contention. Yes, all the “occupy” related events are getting a bit confusing, but the causes are worthy and despite the attempts of freeloaders and mental patients to co-opt the movement and trademark the name, “occupy” is but a single word in the dictionary. And good deeds deserve recognition.
Occupy Irvine to Fullerton:
“Mega-news” from the former Occupy Irvine folks who transitioned to Fullerton after their camp was dismantled on Wednesday. This occupation should be a model for others who have established relations with city leaders for the purpose of making the political statements without all the fuss associated with retracting invitations and sending in 1400 riot cops to evict them. City leaders asked representatives to meet prior to the move, insuring a dialog that will no doubt benefit all involved.
“Tents, tarps, audio equipment, a podium and other well-worn supplies were loaded into cars beginning at 8 a.m. at Alton Parkway and Harvard Avenue. Supplies will be transferred to a new site -- Fullerton City Hall.”
Also check out Synthian Sharp's article on the move to Fullerton at their website that includes a map for anyone that would like to join the effort:
“On Wednesday morning at 9 AM, the Occupy OC villagers lifted up their village, folded it into their luggage, and headed up north… to Fullerton, where they raised their first sign on the corner of Commonwealth & Highland at 10:00 am.”
Well done. More on the So Cal occupiers as they prepare for the spring launch of Occupy 2.0.
Video of the day:
L.A. County Sheriffs demonstrated how they operate in a tangle with a bus-rider. Reports on the nine hour captivity after the L.A. Raid on November 30 are still being collected. Four more arrestees have confirmed that they were forced to sit on a bus while many had to relieve themselves without the benefit of facilities. Apparently, deputies even stopped for coffee before they arrived at the jail while those arrested watched. Here's more on Lee Baca's finest: