Settlement deal finalized: Who governs?

“The Obama administration made a full-court press over the past four days to secure the support of key state attorneys general, including those from Florida, California and New York. All three states are expected to be part of the announcement, people familiar with the situation said.”

http://online.wsj.com/article/SB10001424052970203315804577211620066795962.html

http://youtu.be/JgmZ4yg9YE8

“Those who already lost their home, however, would receive just the smallest fraction of the money: a one-time cash payment of about $1,800 as compensation.”

http://www.huffingtonpost.com/2012/02/09/foreclosure-settlement-mortgage-national_n_1264445.html

Dennis Kelleher nails the salient points here below. Prosecutors, the guardians of the public good as mandated by law, have proven the power they hold can be wielded in many ways. The power NOT to prosecute is much more formidable than their inherent power to accuse.

Dropping criminal charges when clear evidence of misconduct exists is anathema to justice, certainly their sworn oath to uphold the law. How much evidence is necessary to move forward with criminal charges? How can the public be served when the evidence is never presented to a court; when instead that evidence is swept under the rug along with the clear message that the banks function above and beyond the law?

Instead we find that no matter how much evidence exists, the inherent power and influence of the banking sector trumps government oversight. If it was only a suspicion before, this settlement removes all doubt about who is the tail and who is doing the wagging. Here's Dennis Kelleher's take:

“Think about this: the banks engaged in a years' long pattern and practice of what can only be described as fraudulent if not criminal conduct that would put anyone else in prison for years if not decades, yet banks get to buy off the cops with some money to help just a few of the victims they created.”

“As if all that wasn't bad enough, the most egregious aspect of all this may be the reporting: stories repeatedly use innocuous, but grossly misleading words that obscure what really happened here. For example, so-called 'robo signing' is massive, systematic, fraudulent, criminal conduct. This is where banks themselves or their contractors sign legal documents to file in court swearing under oath that the facts are true and therefore support the legal application to take someone's home away from them, i.e., foreclose.”

“Can you think of anything more despicable? Lying under oath to get someone thrown out of their home and onto the street. That's what robo-signing means and what it obscures every time that word is used.”

http://www.huffingtonpost.com/dennis-m-kelleher/foreclosure-settlement-mortgage-crisis_b_1264998.html

Very well put Mr. Kelleher. There are few if any things more despicable than what you described. We have learned that forgery mills existed, that banking executives called their own loans “shit” before they sold them off to the chumps that were their investors. We also know now that no matter how egregious the offense, the banking institutions will never be held accountable. It doesn't matter if the foreclosures are illegal. It doesn't matter how much criminality is apparent and documented.

As long as they can settle with their alleged regulators for a pittance, their business model is secure. The bailouts that will be required to keep them solvent in the future will be the ultimate insult for those that were displaced by the criminal element that functions within the banking and financial services sector of the economy.

All the more reason for the OWS movement, and those that have taken the time to become educated on these issues despite the negligence of the mainstream media, to move forward with resolve and persistence.

Update: It's official. The President, Housing and Urban Development Secretary Shaun Donovan, and Attorney General Eric Holder have announced a settlement which "turns the page on an era of recklessness" in the banking sector.

Kamala Harris press conference:

http://youtu.be/dQSRrLBjTQI

OWS and unions working together

Let's take a look at some of the affiliate organizations that could use some support from occupiers around the world. It should be noted that many of these groups were fighting the fight long before September 17, 2011. Until then we didn't hear much from them because of what we know now is basically a media blackout that favors the looters and crooks. And now we know for certain that the law is also for sale to the highest bidder.

From Alternet

http://www.alternet.org/occupywallst/152977/ows_and_unions%3A_how_to_defend_people_about_to_lose_their_homes

No to housing crime:

http://notohousingcrime.org/2012/02/06/occupy-activists-to-take-on-wells-fargo-executives-february-6/

Make Banks Pay:

http://www.makebankspaycalifornia.com/hundreds_take_on_wall_street_by_occupying_homes

Calorganize.org: Alliance of Californians for Community Empowerment

“The nation’s top six banks—Bank of America, JP Morgan Chase, Wells Fargo, Citigroup, Morgan Stanley and Goldman Sachs—paid out $144 billion in bonuses and compensation this year, making 2011’s payday the second highest on record for these six firms.”

http://www.calorganize.org/pullingbackthecurtain

Occupy Our Homes:

http://occupyourhomes.org/

The 'debate' that never happened:

Just prior to the Rose Parade, we heard that the Tea Party was going to show up for some sort of a “confrontation” with occupiers that never materialized. Maybe they gave it some thought and realized that they didn't have much in the way of data to support whatever it was they intended to debate (if that was the intention). It may have been that the Tea Party Debate Team was fighting off the effects of the festivities the night before. Regardless, this discussion has never taken place despite the fact that many among the OWS supporters would relish the opportunity. Here's another example of evasive tactics:

“Occupy organizers are upset about the scheduled CPAC debate 'Taking Back Wall Street: The Tea Party vs. Occupy Wall Street,' a discussion in which no representative of the Occupy Wall Street movement is scheduled to speak.”

http://www.cbsnews.com/8301-503544_162-57373412-503544/occupy-dc-protesters-to-occupy-cpac/

Occupy Oakland Media response to Chris Hedges' piece:

“…the Occupy movement, through its steadfast refusal to respond to police provocation, resonated across the country. Losing this moral authority, this ability to show through nonviolent protest the corruption and decadence of the corporate state, would be crippling to the movement. It would reduce us to the moral degradation of our oppressors. And that is what our oppressors want.”

http://hellaoccupyoakland.org/category/op-ed/

Thanks to 4closurefraud.org for the pic. Here's the link http://4closurefraud.org

Grumpy