zRants

Why “Too Big To Fail” Is A Government Subsidy For Mega Banks

zrants — Fri, 30 Oct 2009 19:35:14 +0000

Why is no one talking about breaking up the too big banks? Why are there no controls on the mergers that create these too big institutions, cost millions of jobs, and leave us with monsters that are all but impossible to control? What happened to the anti-trust laws?
Read the Article at HuffingtonPost

Algae Isn’t The Only Slime in Florida Water War

zrants — Thu, 15 Oct 2009 20:31:06 +0000

Polluters join ag commissioner in fighting against clean water

It is hard to imagine anyone defending the polluters that are turning Florida’s waters green and slimy. But, hey, money talks. At long last, The U.S. Environmental Protection Agency is agreeing to set legal, enforceable limits on such nutrients as phosphorous and nitrogen, which are poisoning Florida’s public waters. EPA’s historic decision settles the lawsuit we filed in July 2008. Now the state’s biggest polluters are trying to block the settlement. Big Agriculture, sewage plants, utilities, and phosphate miners have filed legal challenges to try to force the EPA to back down. And the state’s Agriculture Commissioner, Charles Bronson, is using taxpayer dollars to side with the polluters and against clean water.

(read more)

Alan Grayson, Ron Paul join for push to audit Fed

zrants — Sun, 04 Oct 2009 22:52:18 +0000

Alan Grayson and Ron Paul: Progressive Democrat, libertarian Republican promote Fed audit bill

http://www.orlandosentinel.com/news/politics/orl-grayson-targets-fed-092509,0,5177529.story

WASHINGTON – A measure backed by one of Washington’s oddest couples — libertarian Republican Ron Paul of Texas and self-styled progressive Democrat Alan Grayson of Orlando — took another step toward becoming law Friday.

Legislation that would allow a congressional audit of the Federal Reserve — the secretive central bank with authority over interest rates and the nation’s money supply — won support from a dozen members of the House Financial Services committee, including its influential chairman, U.S. Rep. Barney Frank of Massachusetts.

(cont.)

The IMF Catapults From Shunned Agency to Global Central Bank

zrants — Sat, 03 Oct 2009 20:09:39 +0000

The only hope we have is to educate people about what is going on and enable them to figure out what they need to do. How do we do this when schools are laying off teachers and classes are being cut? Is there some way we can use the new technology to educate people who shun classrooms?
Read the Article at HuffingtonPost

zrants — Wed, 30 Sep 2009 20:10:03 +0000

The following quote from Susan Older about sums up my feeling about the news and 21st Century journalism.

“Journalism isn’t in trouble because we’re reading it online instead of on paper. It’s in trouble because of poor judgment on the part of sloppy, clueless, and often angry people who handle carelessly the precious gem we used to call the “news.

Read the rest of the article here.

Landmark Decision Promises Massive Relief for Homeowners and Trouble for Banks

zrants — Sun, 27 Sep 2009 20:44:14 +0000

The media spent countless hours investigating why we had the meltdown, who’s to blame, and which regime is responsible for which part of the bailouts, yet they failed to turn up these findings by the Kansas Supreme Court regarding enforcement of foreclosures by third party owners of notes of interests.

The court held that in order to foreclose a property the statutes require the holder of the deed of trust to also hold the note, or prove an agency relationship exists between the holder of the deed and the holder of the note. The lack of transparency of ownership precludes the right to foreclose.

“…Without the agency relationship, the person holding only the note lacks the power to foreclose in the event of default. The person holding only the deed of trust will never experience default because only the holder of the note is entitled to payment of the underlying obligation. The mortgage loan becomes ineffectual when the note holder did not also hold the deed of trust… [Citations omitted from excerpt.]“

Thank you Ellen for bringing this to our attention. Hopefully someone in the mainstream media will pick this up and cover it.
Read the Article at HuffingtonPost

Whoops: Anti-ACORN Bill Ropes In Defense Contractors, Others Charged With Fraud

zrants — Sat, 26 Sep 2009 08:59:37 +0000

By Ryan Grim

Going after ACORN may be like shooting fish in a barrel lately — but jumpy lawmakers used a bazooka to do it last week and may have blown up some of their longtime allies in the process.

The congressional legislation intended to defund ACORN, passed with broad bipartisan support, is written so broadly that it applies to “any organization” that has been charged with breaking federal or state election laws, lobbying disclosure laws, campaign finance laws or filing fraudulent paperwork with any federal or state agency. It also applies to any of the employees, contractors or other folks affiliated with a group charged with any of those things.

My comments: Is is possible that the US Congress is ready to come clean and really change the way they award contracts? I’m not holding my breath. I’m sure the moment will pass and they will conveniently forget the entire thing before the ink is dry on the pages, but the fantasy is out there. The conversation is underway. Now that American citizens are scaling back on their spending habits, they expect their government to do the same. Saving is in. Charging is out.

Contractors Under Investigation

zrants — Sat, 26 Sep 2009 08:08:14 +0000

ACORN is by no means the only recipient of government funding under investigation for misconduct. This list from POGO.org is guaranteed to raise some eyebrows.

http://www.contractormisconduct.org/

Why the Dow is Hitting 10,000 While Everyone Else is Cutting Back

zrants — Wed, 23 Sep 2009 19:07:25 +0000

Stolen money.

Let’s not forget that someone also stole/hid a LOT of money from investors. Not all the value was in real estate. There was a lot of money that disappeared into off-shore accounts and executive bonuses. All those executives had to do something with their bonus money. Some of them probably decided to puff up their banks by buying up their own stocks. That would explain some of the gain on Wall Street.

It also makes a good argument for smart people who have gotten out of the market to stay out. What/whoever puffs it up can pull it out again just as fast. It is still a house of mirrors. The little guy behind the mask hasn’t changed in the last year. He is still pulling the trigger and calling the shots. Anyone in Congress who is blaming the folks who got duped into buying those AAA-rated stocks and bonds or got suckered into taking out bad loans, deserves to be retired during the next election, regardless of which side of the aisle they sit on.

Baucus Debacle Shows Why Democrats Have to Stop Trying to Woo Republican Lawmakers

zrants — Thu, 17 Sep 2009 18:53:30 +0000

Why don’t the Democrats act more like Republicans once they find themselves in power? Winner’s guilt?

That is the question for the President and Congress. You were not elected to hold a popularity contest. You were elected to do what you said you would do on the campaign trail. What we need is action on those promises or explanations on why those promises are not being kept. All we need from our Democratic leaders is actions and explanations. Turn all that mental angst into explanations on the Constitutional limitations that preclude some actions and get to work on the arm-twisting or whatever it takes to get the legislation required to deliver on those promises that can be kept. The difficult ones can be worked out later.