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EDITOR’S NOTE: OWLS (Occupy Wall Streeters) are expanding across the nation, money is pouring in and they are getting support from all sorts of unlikely sources. It is clear that Obama and his team are looking for ways to tap this energy as the unions see a vehicle for growth, Tea Party members see their cherished goal of banging the banks for TARP and the rest of the $16 trillion bailout, and young people are flocking to a cause that runs right into their empty pockets — jobs withheld from the American economy because big banks and big business are literally holding $3.5 TRILLION in money that normally would be flowing into the economy growing businesses that would hire and train American workers.

It doesn’t take a political strategist to see that this movement is what will define American politics and the 2012 elections. Anyone running for office needs to run against big business and big banks or they will lose, pure and simple. Pepper spray from hired thugs in new Jersey and peppery comments and whining from bankers “trying to make ends meet” are not going to stop this movement. This one is here to stay and it might just be the beginning of a new era of governance with the emergence of a centrist political party that eschews the ties and tactics of the republican party, a subsidiary of the banks, and the Democrats who have abandoned basic progressive principles that are practical. There is no party right now that can attract the enthusiasm of the young and old American voters like the OWLS.

Unless one party or the other adopts the energy, momentum and anger of the OWLS, this will result in a third party that will have candidates running in all major contested districts. It will draw heavily from disaffected Democrats and Republicans. It is a wild card that cannot be tamed. POLITICIANS: Proceed at your own risk!

The message is clear: Hold the Big Banks and Big Business accountable for what they have done to our government, our society and our economy. Bring the jobs back and grow those industries that will produce good paying jobs that pay enough for people to live and raise a family. It is not acceptable for the American society to give up hope, a future vision and our own ability to innovate because those who siphoned off the money won’t give it back. We want to see accountability, indictments, and restitution. We want capital put back in the economy from which it was stolen. The purse snatcher has been caught. It is time to pay the piper.

‘Occupy Wall Street’, 99 percent movements get challenge from the other 1 percent

Published: October 7

The “Occupy’”movement has spread from its New York birthplace to several other major cities, including Boston, Washington D.C. and L.A.. What protesters might not have expected was that the one percent of Americans that the protests are targeting would hit back. As Elizabeth Flock reported:

In a news conference yesterday, President Obama told the protesters of Occupy Wall Street he understood their concerns about the nation’s financial system, but also defended those who worked in the financial sector, saying their work was necessary for the economy to grow

It was the first time the focus had been shifted from the “We are the 99 percent” of people who have been protesting over corporate greed on Wall Street, among other issues, to the “one percent” of people they’re protesting.

As the “Occupy” movement continues to spread across the nation, the bankers who work on and around Wall Street have begun to speak up. Some have responded by telling protesters they aren’t so different from them, or started their own counter-protests. Others have said they just don’t care.

Exception Magazine reports that last night, self-identified Wall Street workers were seen wandering through Zuccotti Park during the General Assembly meeting to challenge attendees on why they had come to protest.

The two workers called out protesters for rallying against corporations while consuming products like designer clothes and iPads. They pointed out that most of the protesters clearly could afford to eat. And they echoed Mayor Michael Bloomberg’s argument that some bankers are struggling to make ends meet, too.

New York Federal Reserve’s board of directors Kathryn Wylde agreed with the two wayward bankers, Public Radio International reports, saying recently that if the protesters actually “talked to the people working inside the banks and on Wall Street … they would find they have far more in common with them than what divides them.”

A counter-protest has also started on Wall Street, “Occupy Occupy Wall Street,” by two investment bankers who are fed up with the demonstrations.

In Washington, Occupy DC protesters took to the Metro to demonstrate on Friday, handing out fliers while posing as members of America’s one percent. As Katie Rogers explained:

Nearly a week into “Occupy DC” demonstrations and a day after protestors took to D.C.’s Freedom Plaza, the movement that Wall Street built is still attracting supporters.

Now, Metro riders may find members of America’s 99 percent clogging their daily commute.

A video posted on Occupy DC’s Web site shows a cluster of dressed-to-the-nines demonstrators posing as America’s 1 percent, brandishing an iPad, toasting champagne glasses and handing fliers to riders who mostly just look tired.

As political leaders begin to react to the growing protest movement, some analysts wonder if President Obama can tap into the movement’s energy. As Dana Milbank opined:

As the Occupy Wall Street demonstrators moved to Washington on Thursday and swarmed outside the U.S. Chamber of Commerce, President Obama was at the other end of Lafayette Square trying to align himself with the swelling protest movement.

“I think it expresses the frustrations that the American people feel, that we had the biggest financial crisis since the Great Depression, huge collateral damage all throughout the country, all across Main Street, and yet you’re still seeing some of the same folks who acted irresponsibly trying to fight efforts to crack down on abusive practices that got us into this problem in the first place,” the president said at a news conference in the East Room.

For the struggling president, the nascent movement offers a chance at salvation, the opportunity to excite liberals with the sort of populist energy that has fueled the Tea Party for two years. But, as liberal leaders already know, the young movement must be careful to avoid Obama’s embrace: He decimated the progressive cause once, and he would do it again if given the chance.

Liberal activists who rallied behind Obama in 2008 watched as he defied their wishes and instead made unrequited concessions to the Republicans. “Every one in this crowd, I am certain, has had disappointments and frustrations with this White House,” Robert Borosage, a director of the Campaign for America’s Future, told the audience as he convened the Take Back the American Dream Conference, an annual gathering of liberal activists in Washington, this week. He accused Obama of being “too cautious” and “pre-compromised” and criticized his performance on jobs, global warming, defense and foreign policy.

Another of the speakers at the confab, former Obama White House official Van Jones, said it was liberals’ own fault for placing too much faith in the president. “We all affiliated [with] him,” he said. “We made a mistake.” Obama “got to become head of state, he got promoted — good for him,” said Jones, who was forced to quit the White House when conservative critics attacked him. “But here we are — and it’s worse than before.”

More from The Washington Post

Opinion: Rescuing America from Wall Street

Who are the 99 percent?

Russ Feingold endorses Occupy Wall Street

59 Responses

  1. @leapfrog’

    you said

    I also don’t appreciate your little meme of “everyone went out and bought an SUV and now can’t make their house payment.” Cite some sources for this profoundly idiotic statement. But we know you can’t. So you come here to ridicule others and spread your lies and propaganda.


    so what most people don’t understand is this simple fact. And it is simple but hidden and one of those “can’t believe it is true” FACTS.

    All money is created at the bank level via loans, credit cards, IOU’s, promise to pay (mortgage notes), whatever you wish to call them.

    All money created, created by the above statement is via fractional reserve banking. Or for 1 dollar on account at a bank, 9 dollars are created by loans or lent out. This is called leverage. And only banks can do it by law from the Federal Reserve System of Banks. You as an individual or company or LLC or Partnership can not do this. You cannot have 10 dollars in your bank account, and lend 100 dollars. Only banks can lend more than they have in their accounts as deposits.

    But banks never lend money, they lend credit or IOU’s. They do not lend other people’s money, but people think they do.

    So, when you borrow from a bank, you are not borrowing money, but you are getting credit or IOU’s. But you are not borrowing, you are just promising to pay back.

    Here is the difference. When you borrow money from a friend, you are indeed borrowing his money. That he/her earned. He is out the money until you pay him/her back. The difference is banks do not lend out depositors money on a one for one basis. Their game is to get as many depositors as possible, let’s say 1 million dollars worth of money from a group of thousands of people. And per their rules, they can then lend out 10 million dollars. And the game is per years of statistics that only 2% will default. But when you are highly leveraged, a much higher percentage of defaults will create an imbalance. It is a numbers game. It is accounting on their books.

    I don’t know. You have to listen to the stuff on the internet on how money is created. You have to watch the videos on the internet such as the money masters, Zeitgeist, ben stiller. Read books from Money as Debt, Griffen on Creature from Jekyll Island, and so on. And you have to connect the dots.

    And the bottom line will be this. Since all money is created from loans at the bank level, via loans from banks and created from the Federal Reserve and Wall St, you have bankruptcy laws which they created, banks and Wall St can clear their books or accounting of plus and minus, or assets and liabilities if you file bankruptcy and can do so since they changed the rules once again.

    But, you have to realize that bank loans are make believe and created out of nothing and the difference is loans from a friend are not make believe. Loans from a friend are real money loaned on a one for one basis, no leverage, so your moral obligation is to pay him back. There is no moral obligation to pay a bank back as it is all leverage and pure profit. And if you default, then it means no profit, but no loss since they never lent money, just credit. That is the difference.

    That is Occupy Wall Street. That is you know something is wrong but you can’t quite figure it out. But you know something is wrong.

    Like how can a Stock market company show a lose for a quarter, yet the CEO’s still make their millions of dollars salary? And they lay off people? Like we had a financial crisis in 208, yet CEO’s of the big banks still made record bonus’s? Something just does not seem right?

    Thus we have protests.

    Long live the protests since something is not right.

  2. @ Pat: “Screw that. It is time to “man up” and accept responsibility for their own actions.

    Oh, really? So does the “man up” and accept responsibility for their own actions apply to the likes of Angelo Mozilo, Jamie Dimon, Ken Lewis, Joe Cassano, Lloyd Blankfein, etc? The “masters of the universe” who blew up the housing market in a control fraud? I don’t see them suffering. As a matter of fact, they have received record-breaking bonuses and gotten get-out-of-jail-free cards.

    I also don’t appreciate your little meme of “everyone went out and bought an SUV and now can’t make their house payment.” Cite some sources for this profoundly idiotic statement. But we know you can’t. So you come here to ridicule others and spread your lies and propaganda. “First they ignore you, then they ridicule you, then they fight you, then you win” – M. Ghandi

    Sounds to me like you are stuck in the ridiculing stage.

    Its laughable how you defend the banksters. You will NEVER be in their “club”, as much as you aspire to be – you will always be on the outside looking in. “Its a club and you ain’t in it” – George Carlin

  3. these guys are idiots, CAIN you’re a paid shill.


  4. all Corrupt judges turn yourself in Now, use your get out of jail free card , which grants you judicial immunity, but at least go directly to jail , come clean now , before the election were you will face ejection, turn in the stolen goods you have taken ( our civil rights)

  5. occupy until we die!

  6. I didn’t take it that way. Most of the time, freedom of expression leads
    to at least somewhat worthy debates. Bashing bull is called for, too, even if it WERE mine. Just not the author. As enraged says, we need to organize. I’ve already thrown in my two cents about our goals.
    PS – I’m not as knowledgeable about Pat’s thoughts as you, not having seen them elsewhere.

  7. John, please understand that my post is not directed AT you. I appreciate your wisdom and viewpoint. I didn’t mean for my view to “collide” with yours.

  8. First off, as to your statement, “Pat makes some valid arguments about our own behaviors in this mess.”

    I believe you’re having a wee bit of Stockholm syndrome here, as the guy will skewer you on other forums when your back is turned. Deadbeats? Absolutely NO ONE fits that description given the pillage that has taken place. I’ve owned dozens of houses and was never once late on a payment before Wall Street dropped the Neutron bomb that left all of the properties standing, but annihilated the population that used to live there. The problem was NOT due to anything the populace did. PERIOD! It was leveraged greed, plain and simple.

    I personally don’t care if anyone short of the wordpress owner cares if I’m too aggressive towards the guy. I think he’s an asshole, as I’ve read way too much of his history plastered around the internet. He has nothing but vitriol for homeowners, until he’s cornered and exposed for what he is and then he slinks off into the nether reaches of shill-land again, once again trying to make a dollar on the deal.

    “Is there any doubt in our minds it (seizure of all the corrupt enterprises) is warranted?”

    When it comes to TBTF institutions, there’s no doubt. The list of knowledgeable people who say that’s the only prescription for economic health is undeniable. And you know we’re not talking bloggers here. Whalen, Stiglitz, multiple heavy weights for sure.
    The problem as I see it is….it’s literally them against the rest of us. It really is the 99% to 1% problem OWS is framing. And no matter what any political party or individual representative will do to try and co-opt or reframe the issue, they can’t, because they are inherently part of the problem, simply by their playing of the game inside the beltway. Taking the monies for re-election and promising to do XYZ in exchange is exactly the root of the problem, it’s taking the people of the nation out of the equation. It’s a government for the corporations, at the expense of the rest of us.

    And THEY, the 1%, will not give up that power without a battle of epic proportions. Witness the riots this past year on the streets of London, Madrid, Rome, Athens….we were told by ALL of the press reports coming into the U.S. that these were hooligans, thugs, who were breaking the law and threatening the very way of life in Europe. Why? NONE of the reports I saw would say why. We now know that the truth is that the rioters were onto the game of shifting the toxic debts “owed” to “international creditors” to the tune of hundreds of billions, possibly even trillions of dollars. Austerity for all and for all time.

    If one believes that the IMF and the World Bank are preserving democracy across the planet, there’s no reason to continue this discussion. The problem is probably unsolvable if that’s the case. Just keep one eye open when Monsanto offers Haiti free seeds after their next quake. Or when monies are delivered freely to _____ (fill in any third world country) in exchange for their utility company.
    These so-called thugs, the bottle tossing youths of these Euro-countries, decided they wouldn’t stand by and allow their governments to transfer the entire current and future wealth of these nations over to the financiers behind the curtains. Knowing the harsh criminal penalties that these governments can dole out to individuals involved in such “terroristic” behavior puts these folks into some serious shit if they’re busted. This, at least in my mind, and I realize I may be in a decidedly minority position with this line of thinking, puts these people into the same league as freedom fighters akin to the resistance of an earlier Europe.

    These are the same reasons I’ve thrown my weight in with OWS. It may not be perfect, but if you decide to wait around for the prettiest pig in the barnyard you might just end up at the slaughterhouse yourself. It’s that, or sit back and watch as the transfer is completed. TILT. GAME OVER. Go back to work, you’re late. Re-read 1984 for a primer.

  9. Well, I don’t want to be a coward, which is what I’m feeling just now. I support Pat’s right to a point of view and the right to share it, here or anywhere. The people whose views I would have no use for are the
    bottom-feeders who would take advantage of our woes. Pat’s story was touching, was a a different perspective, altho I don’t agree with the bottom line. And I agree with enraged that a messed-up day while regretful is a small price to pay for what has to be done.
    In order to effect any real change, we have to be different and this does not include an attack in lieu of disagreement. Substituting an attack on the man for his argument is one of the seven articles of propaganda. It’s an
    instrument of destruction which has been used through out history.

    Pat makes some valid arguments about our own behaviors in this mess.
    But to me, if anyone is going to end up with a “free” home, it should be the homeowner, the least culpable party. Yeah, some of us got in over our heads. I don’t think we can deny it, altho it is also true to say we were influenced and urged to do so by people with bad motives, people who had no thought about our ultimate, inevitable demise, people who in their zest for the big bucks knew our demise (and others) would be a by-line to their own success, and proceeded nonetheless. We did not know just how poison
    that brass ring was.
    Nothing any homeowner did or didn’t do is an excuse for what the real
    players have done and continue to do with impunity. They were rewarded by TARP funds – read OURS- and God knows what else for their sins under cover of tbtf. The government has implemented some programs which are supposed to keep us in our homes. They outrageuosly gave the money to the banksters, as we know the same gang who has perpetrated these crimes against humanity. This was either moronic or too careless for tolerance. Or it was intentional bs.
    Allowing someone with no interest in your home to make off with it is a very harsh punishment for any behavior. That is not a reasonable price to pay. How about a ticket, kind of like the law firm got? Interferring with one’s right to meaningful “modification” with our own funds is not tolerable. Our right exists because our funds were given over for that purpose. Even had those funds not been given over for that purpose, our right to negotiate with anyone with the right on the other end to negotiate with us has been stolen from us. In the absence of HAMP and other funds earmarked for the retention of our homes, we have no right to loan modification. But even in that absence, we have the right to negotiate, to present our cases, to seek modification and we are not able to do that. This is not tolerable.
    Just as MERS has hidden those parties (if any), the government has allowed only one side to formulate the ‘rules’ for modifications and those rules are kept secret from the people they are supposed to benefit. First of all, we the people should have some say in those ‘rules’ and they certainly should not be kept from us. This is not reasonable. This lack of transparency is not reasonable. In fact, what the heck?! Denying the alleged meaningful relief is not reasonable. Measures have been put in place using our own dollars – one way or another – and we are not able to avail ourselves of the relief we are paying for and were accorded.

    Okay, Pat my friend, as anonymous would say, some of us got liar loans and knew it or otherwise got in over our heads. But who is to say we couldn’t meet our obligation nonethess if our economy hadn’t disappeared overnight due to the criminal behavior of others? We have been given the funds or were supposed to have been given the funds to help us meet our obligations. Most of us dont’ really want a “free” house – we’re happy to pay what we can under circumstances we did not create. That’s not good enough for the recipients of untold amounts of their own propping – up. This is not reasonable and can’t be tolerated, and from the looks of it, the cure is going to come at a much higher price than a lost day.

  10. Organization – that’s a grand idea.
    Getting the money back? Sign me up. (I did sign getthemoneyout).
    I see no solution other than seizure of all the corrupt enterprises. The government knows how to do it – it isn’t new to them. Is there any doubt
    in our minds it’s warranted? The doubt will remain where it should not remain as long as Obama on down continue to call Wall Street’s actions “immoral” but not criminal and as long as slaps on the hand, like the outrage nabdullah cited – one of a zillion – continue. Who the hecks kool aid is Obama drinking? He is drunk on it. Does he think the funds for his re-election constitute some greater good for our country? All those funds will be no use to him if we become single-issue voters: Stop the tyranny and enforce our laws and constitution, and this does not include a ‘pass’ on
    criminal behavior. Do you know that U.S. attorney who got the 2 million sanction award against that criminal law firm has probably broken his arm patting his back?

    He can create a lot of jobs by commandeering criminal enterprises and
    disbanding MERS, retrieve our records of ownership and interests and put them back where they belong. The cover for these abominations must go. Obama is so caught up in the tbtf, I wonder if he has even given any thought to an alternative. Really, do you suppose he has? I wish we had not had to endure what we have to be shocked out of our complacency, but there it is. We should have been able to be complacent, go to work, pay our taxes – we should be able to count on our elected officials to do their jobs and they’re not doing them. I think Obama might have been a good president in another time. But it’s not another time and he has not chosen to walk the walk. His programs to help the homeowners are dismally, utterly, and disappointingly toothless, just as the laws on our books under his administration.

    So that’s my two cents: seizure of criminal enterprises, including seizure and dissemination of MERS, single-issue voting. A question is, can we turn out a group of leaders for the necessary charge who will not succumb to ambition?

  11. A Man, it’s OK to tell the enemy what your plans are if in fact there’s not a damn thing they can do about, except doubt your abilities and exclaim “Oh Shit!” when you’re done.

    Sure you’re right about Anon doing illegal things, but what do you think Geithner is doing? And Bernanke? And now Obama, when he states that nothing illegal took place on Wall Street? That’s either 1) his ill-informed belief based on zero investigations on the part of his staff, which means he needs to get counseling and fire them all, or 2) he’s lying through his teeth to the American people, which is illegal to say the very least.

    I put Anonymous in the same camp as Wiki-leaks. Bring it on. I couldn’t possibly care less if they wipe the NY exchange off the map. Good riddance! What does the exchange do save for exchange America’s retirement accounts into Wall Street savings accounts?




    MY 2 CENTS FOR THE 99%

  13. Isnt Pepper Spray a prelude to Chemical Warfare? Sort of like Sadam Hussein. How fitting for Obama to have the same middle name. Barak Hussein Obama










  15. We kinda knew OCC was useless and, actually, counterproductive for what We The People are concerned…


    I wonder if Obama will have the gall to toot that his government has created “thousands of jobs” under that auditing program…

  16. The Anonymous problem (not our anonymous)

    1. You dont tell the enemy what your are gonna do. That is not a good tactic. You want the element of surprise. That is War tactics 101.

    2. Anonymous is doing illegal activities.

    3. BSE not paying your Mortgage is legal.


  17. Now that we’re all done venting, we need to organize.

    Some ideas following. That hunting of all pretty prep boys sounds good too…


  18. I like this comment left on another blog concerning possible demands from the OWS crowd:

    “I know what my demand would be…. disgorge the trillions you took in bailout money, all of it, then we’ll decide how long we’re going to lock you up for. Do it not, and we’ll hunt you down like dogs, every last delicate prep-school one of you, using some of the toughest special forces on earth.”

    Works for me!

    OCTOBER 10th DO not Forget – Expect US
    Do not stand idle… Do not stay silent !

  20. The only solution is total transparency with regards to the money—

    and getmoneyout.com

    Please watch:


  21. The banks can not make ends meet. So they decide to steal from the world. Tell their C.E.O’s who can not make it on their $ 50 million per year to give back the bonus stolen from the tax payers and home owners over the last 4 years.Further, the only way Obama will be re-elected will be by the use of stolen money given to him by the banks and Wall Street..

  22. A simple solution, no politicians or laws required. Too big to fail “MAKE THEM SMALLER” don’t do business with big Banks,use small or regional Banks. We lose nothing and Main Street wins the the fight over Wall Street influence. Pass the word.

  23. Pat,

    Just done ready a few of your posts on other links. I am concerned. Deeply concerned.

    Are you going off the deep end?

    I understand that when people become extremely depressed, almost suicidal, oftentimes, they become completely inappropriate and irrational.

    Or are you so sold out that you can only be inappriopriate and irrational?

  24. This movement, which I am part of, is still peaceful. I feel the president has moved into the impeachable realm and the banks have been for some time now jailable thugs. I am out of flowery words I have been hurting so long, my job WAS sent to china and I can prove it. I have been unemployed since june 2, 2008. And becuase insurance is the way it is, and businesses the way they are, I am totally unhireable at age 60. I am pissed off and I think it is very possible for this movement to grow evermore violent. Tower of babble meet Euro-dollar. The entire world seems to be revolting against the snobbish rich. How is it that I, with a degree in electronics, and 30 years of experience on the job, can’t find work, and have to look into the occasional dumpster, yet wealthy wall-streeters need to put pink coral around their swimming pool?

  25. Pat, please come back….I found my pepper spray.

  26. Pat,

    I understand what you are saying but I cannot suscribe to it.

    We are in the middle of the worst economic crisis since 1929. 16% of kids in America are homeless and hungry. 45 million people can’t see a doctor. People have lost their retirement pension, their house when the job they had was sent overseas, their job, all ability to make a living and you whine because of an attack on some museum? A warehouse of old stuff that will never feed anyone? A vestige of history that brought us where we are today? And because children may have seen it as it took place at the most opportune time, when families enjoy the weekend and go visit it?

    I have to reiterate my question. What the hell is wrong here?

    Don’t you get it? Don’t you understand how horrendous this economy is or are you so pampered and protected that you cannot see it? Don’t you realize that we will see a few deaths before anything is done to fix the damage caused by Wall Street? And those death might very take place while “innocent kids” are on the way to school… Don’t you see that NYPD was payed by Chase to make that happen? That the pepper spraying and the media reports are only there to “prove” that OWS was the aggressor?

    Have you read any history book about how revolutions start? And how much it takes to get such a movement going? How much fed up people have to be?

    What do you propose we do? Fold and go bow dow to Jamie Dimon? (If anyone has notice by now, I really, really can’t stomach the guy. Arrogant little bastard…) Give him what we have left and apologize for not having brought it earlier?

    What the hell is wrong with you? It is no longer a People’s movement?
    You are so damn wrong! It is such a people’s movement that it is an everybody’s movement. That’s how many people have been affected by the banks. Everybody!!!!!!

  27. Pat, I guess you forgot that we are in this mess because of de-regulation…bought and paid for by the banks/Wall Street. They securitized the receivables…not mortgages…no “mortgage-backed” securities…it’s called fraud…people kicked out of homes on fraudulently fabricated unsecured debt…counterfeit “mortgages”…and the perpetrators are living the high life…as the people suffer… homelessness, joblessness, hopelessness.
    This is what they are protesting—MASSIVE INJUSTICE…condoned by people like you.

  28. Pat, you’re an uninteresting person, no matter how high you over-value your abilities. Delusions of adequacy.

    Wealth destroys democracy and free markets when it buys the machinery of governance.

    Anyone of any stature realizing this is smarter than all the world’s bank officers combined.

  29. Pat you are irrelevant.

  30. Is this a joke or what?? 2M – Really? “….released from potential civil claims” – after committing fraud upon the court? Does this “agreement” prevent a NY homeowner from suing because of an illegal eviction, fraudulent Refeere’s Deed obtained via a foreclosure judgment entered based upon forged and fraudulent documents?? Under the NY Real Property Law such acts carry SEVERE civil and CRIMINAL consequences. Can a U.S. Attorney enter into an “agreement” that would allow a criminal to NOT be held accountable for violations of NY Law???? I don’t think so. Time for another Brooklyn Beat-Down. “To the Batmobile”.

    “A New York State law firm has agreed to pay a $2 million fine and revise its practices to settle federal charges that it filed misleading pleadings, affidavits and mortgage assignments in state and federal courts.
    No excuses
    “In mortgage foreclosure proceedings, there are no excuses for sloppy practices that could lead to someone mistakenly losing their home,” Southern District U.S. Attorney Preet Bharara said in a statement. “Homeowners facing foreclosure cannot afford to have faulty paperwork or inadequate evidence submitted, and today’s agreement will help minimize that risk.”

    The 12-page agreement also prohibits the firm’s employees from executing mortgage assignments as officials or representatives of MERS, an electronic mortgage registry system.

    After paying its fine, the Baum firm, which has 87 attorneys, will be released from potential civil claims under the Financial Institutions Reform, Recovery and Enforcement Act of 1989.”

  31. Media promotes OWLS as an attack against capitalism. OWLS is not an attack against capitalism. This is a challenge to a system that is now beget with fraud. Capitalism NEVER thrives by fraud — and does not thrive by secret agreements and deregulation that fuel the agenda of only those few in control.

    There can be no capitalism when the system is controlled by those few who only motive is to profit for themselves – by fraud.

    Those in control — those who have profited — have profited by the siphoning of all wealth from the lower/middle class — who are ALWAYS the source of profit to those in control. Eventually — the source of profit to those in control — will end — because the very source that they relied on for profit — is now gone. And, fraud can never be the source of capitalism.

    OWLS is not an attack on capitalism — but, rather, an attack on a system that has abruptly stopped capitalism — and the fraud that was utilized to STOP the natural flow of the “invisible hand” of the a natural progression of capitalism. Once that invisible hand is controlled — there is NO longer ANY capitalism. There is no longer any “invisible hand” (Adam Smith — Wealth of Nations) – a self-directed motivation that ultimately addresses the needs of society. In fact, when the invisible hand no longer exists — due to control of those few in power — anarchy has replaced capitalism.

  32. A Man,

    Read my post about the A&S museum.

  33. Enraged,

    I was born in the early 50’s. I grew up in CA with the demonstrations over Vietnam. I know real demonstrations, and I know “social events”. (BTW, the young men who go to these demonstrations do so hoping to get laid. Talk to those who did it in the 60’s and you find out the truth.)(

    Up to this point, I did not care about the Wall Street protests because these people were in my opinion, simply fringe elements who had no idea about what was really going on. And for the original protesters, I still feel the same way.

    Today, with the attack, and yes, it was an attack, on the Air and Space Museum, they pushed me over the edge. (BTW, if you look around at different websites and blogs, the “common people” of the US have reacted just as I have.)

    I don’t know if you or any others here have ever been to the A & S on a Sat afternoon, but I have. In fact, I was there one year ago next Sat, with my 8 & 13 year old grandkids. The daughter and I went to their schools and requested that the principle let us pull them out of school so I could take them for 5 days of seeing our nation’s capital. Each allowed us, provided that we assist the grandkids with creating a presentation to their classes about what they saw, what it meant, and how it affected today. You cannot believe how a 9 year old grandson would react to what we take for granted. What a wonderful experience for all of us, and what bonding with the grandkids.

    Any day of the week, A & S is filled with people, literally thousands at any one time. Mon – Fri, school buses of kids pull up, and the kids tour A & S and other museums, as well as the Capital.

    On Sat afternoon, like when we were at A & S, there were probably 7500 plus people, and at least 50% were 15 years of age or younger. These are families, out to enjoy the day, and to learn more about the heritage of the US.

    When these assholes attempted to storm the A & S, they ruined for untold numbers of people, the day. Many of these people were from locations that required many hours to get there, often through air travel. And these scum bags took that pleasure away, because they wanted to protest something, and did not care what.

    Those of you who post here and hangout on similar websites are getting a distorted view of where most people stand on the issues related to foreclosures. Frankly, most people haven’t a care for your stance, and think that those who are complaining about illegal foreclosures are a part of the problem also. I saw this first hand last week and this week in court.

    I was the “expert witness” in a predatory lending lawsuit. I was on the homeowner’s side, in a legitimate case, one of the few I will get involved in. (BTW, I am certified in both State and Federal Courts as an Expert Witness. And, you don’t take one seminar on “audits” and become an expert, no matter what some think.)

    This was a clear cut case, going against a broker. The lender was not a target because there was no clear evidence against the lender, nor could an agency relationship between the lender and broker be shown, no matter what we did.

    The jury came back with a verdict in favor of the homeowner, with one stipulation. They assigned a 25% fault of the homeowner for the predatory lending problem, saying that he also contributed to his situation. This was a valid verdict, that I had to agree with, though I do believe that at most, maybe 10% would have been more appropriate.

    I point this out because there are things that most here need to know. Many people claim no fault of their own, but in reality, they were just as much at fault, or not more. For instance:

    There is one person here who posts all the documents involved in the particular case. People “worship” this person.

    The person claims predatory lending, and no knowledge of what was going on. Furthermore, the claim is that income was falsified by the broker, and many other frauds occurring as well.

    I looked at the posted documents, including the loan application. This person had sold two homes that were owned in the previous two years, showing that the person had familiarity with real estate transactions. Each property had loans on them.

    Then, the person bought a home, with 100% financing, 80/20% financing, no money down.

    Here is the clincher. The person worked as a financial analyist in a CPA firm. The person claimed on the loan app to earn $15k per month. The person worked in this type of business for 18 years.

    Pray tell……..how could a person who owned and sold two previous homes in the last two years, who worked as a financial analist for a CPA firm, and who knew what amount of money made per month, and who understood real estate and financing, make a claim of fraud and everything else against the lender?

    There are other people who post on this website and have similar types of stories. Some have refinanced and pulled cash out 2-4 times, using the money to pay off credit cards and buy their toys, and then have to do the same a year later. Repetitive behavior time and again.

    Others have wanted to be the Donald Trumps of residential real estate and got caught up in the down turn.

    Yet, they all claim fraud and everything else, refusing to accept that they were their own worst enemies.

    Now, each person wants to argue that the banks should have kept them from engaging in their own worst behavior. “I can’t control myself, so the banks should have stopped me.” This is pure b.s.

    Why don’t the same people file lawsuits when their stocks go down after they bought at the high? Or when they buy a car at one price, and the guy down the street buys the identical car at a lower price? It is essentially the same thing.

    All claim that the banks made money from inflated appraisals, but each of you had the choice of walking away from the deal if the price was too high. Yet, you made the offer to buy. (Funny how many people I talk to who bought in the 80’s or 90’s and knew that the values were absurd, and would never have made such an offer. Today, they just shake their heads at the ones who got wrapped up in this.)

    Why don’t you go after the people you bought homes from, paying that higher price? They made the money, and you were willing to pay for it at the time, at least while values were rising.

    For the people who did cash out refinances, why did you do it? Take the money and spend it, or pay off other debt. And then you did it again. Now you complain because you took money out of your homes for something else, and you got caught with your pants down.

    Didn’t anyone ever tell you that you don’t mess around with the home you live in? Ask any “old timer” and they would have told you that. Or ask your parents and grandparents, and you would really get an earful.

    Of course, what I have just written will be condemned again. That is to be expected. No one wants to admit that they also have responsibility for what has happened to them. It is easier to blame others than to admit that they failed themselves.

    Now, for those who have suffered because of job loss or medical issues, I do have sympathy. What has happened is not of their making. But, nowhere is there a guarantee that bad things will not happen in life, and when they do, that one is to be insulated from the effects.

    This brings up a phone call I received today, from a person in default. She was 55, late several months on her mortgage.

    This person was a licensed LVN. She quit her job to go back to school to get a Masters in Pre-School education. She got the degree but had been unable to find a job, so she had not been working for an extended period of time, and with little hope of getting a job in Pre-School education.

    I asked her why she did not go back to being an LVN until she could find a job in education. Her response was that her “eyesight had gotten worse” and she did not want to make a mistake on medication. Eyesight was 40/40 correctable.

    Finally, after I jumped all over her for stupid thinking, she finally admitted that “maybe” she should consider going back to being an LVN, instead of losing her home. ($165k mortgage amount)

    The truth is that she would not go back to being an LVN and would rather lose her home.

    Yesterday, it was the guy who had a $1200 per month loan payment, and went out and bought an SUV with a payment of $900 per month. Now, he cannot make the mortgage payment, but he can make the SUV payment.

    This is typical of the behavior that those of us in the business see daily. And it is typical of what most people have done. Yet, everyone wants to blame the banks.

    Screw that. It is time to “man up” and accept responsibility for their own actions.

  34. Pat dont put words in my mouth. The only attacking I saw were the NYPD white shirts. They were so out of control they pepper sprayed (Chemical Warfare) their own Cops.

    Here Pat



  35. Enraged,
    Right on! What were the sixties all about? Peace, love justice, fighting against a stupid war that was perpetrated by the same greedy imperialists that have created the mess we are in. Money is not evil if you use it to do good. Its the love of money(greed) that’s the root of evil. Self centered, selfish people who have no love or compassion for other struggling people will never understand this unless their heart is changed

  36. Pat, A Man is right. We need to look beyond appearances. Are there going to be groups trying to jump on the band wagon and take credit for our collective “fed up”? Absolutely!

    What we need to see, though, is that everyone of the people actively participating has lost something or is about to lose something through no fault of his. If kids went to college to study sociology, it is because they were sold the idea that it would lead them somewhere. Otherwise, they would have chosen a different field. Should they be blamed for having taken advantage of student loans when, in all sincerity, they expected to find a job in their field and start reimbursing.

    Unions have lost most of their bargaining power and they made up a large portion of our middle-class. The 60s… well, I don’t know if you were born then but they represent a very important part of our history and some people never forgot it. Kids of that time learned that they had the right to think for themselves instead of aping their parents and endorsing theirs ideas (racist and conservative). Those kids became the Steve Jobs and Bill gates of this world. Ever heard of them? Thanks to those kids, ours have an open window to the world and have discovered technology their parents never dreamed of.

    People are not looking for socialism. People are looking for social justice. We work, we get paid. We put our money where we want to instead of having it sucked out of our wallets by taxes that finance wars we never wanted and have no business waging, banks that keep screwing us, legislators who fail us, judges who don’t get it and politicians whose idea of public service is to fill their pockets as much and as fast as they can while paying us lip service.

    What are you advocating, Pat? That we all roll over and play dead while life is passing us by and our work serves only to enrich others who don’t give a hoot about the future?

  37. So let me get this straight……………

    You find nothing wrong with the attack on the Air & Space Museum?

  38. Neil Garfield above editorial is a bullseye.
    People from all walks of life are gonna find a common thread with the Occupy Wall Street movement. People that are Democrats Independant Republicans Teaparty Christians Mormons Muslims Jews Budhist will find a common thread. and retake our country. and the world.



  39. Pat how wrong you are.


  40. Let’s see…………..today you have a mob of occupiers attempting to take over the Air & Space Museum in DC. They force it to close at 3:15 pm.

    This is a place where families and children go, especially on weekends. So you have a mob attempting to ruin family outings to a museum because the mobsters don’t like the military.

    Wonder how may of these people were paid to be there like was done on Thursday?

    You have unions and others joining the fray in NY and elsewhere.

    At this point in time, you have people who never left the 60’s, others who think that the 60’s were a fun time, and union thugs who only want to perpetuate their own strength.

    Now, there is proof that Soros and MoveOn.org are funding many of the participants.

    And you have college grads in NY who are there because they accumulated $200k in student loans, and like the one guy, cannot get a job with his sociology degree. Duh? Where was his brain?

    When you ask them what they want, it is all about socialism.

    This is no longer a people’s movement. It has been hijacked by politicians and political groups, as well as anarchists.

    if that is where you want the country to go, then support them.









  42. I am not a mad- man. The bankers and their ilk who brought this on us need to pay for their crimes. Amnesty for those who step forward and rat on the other bankers. In the meanwhile sharpen 1,000 axes and off with their ……….that would also act as future deterrent. Prison is too good for the bastards.

    OCTOBER 10th DO not Forget – Expect US
    Do not stand idle… Do not stay silent !

    OCTOBER 10 TH DO not Forget – Expect US
    OBAMA and your wrecking crew need to move aside

  45. Off-topic for Californians:

    Citing the decision in Mabry v Aurora Loan Services, California attorney
    R. Grace Rodriguez offers her services. This is what she says:

    “Just wanted to tell you about this case that was recently decided against Aurora Loan Services. Essentially what it means is that you can sue your lender if they fail to contact you regarding foreclosure avoidance before filing a Notice of Default. If you were not contacted by your lender and a notice of default has been filed against you, you have rights. Give us a call and we can help you.”

    Her number is 818-734-7223.

    She doesn’t know me from Adam and has nothing to do with this post. I just came accross her doing research. I’m sure she uses the word “lender”

  46. Well, is this any surprise? You’ve got a bunch of well-meaning but uninformed youngsters singing Kumbaya and protesting ‘capitalism’, as if that’s the issue. If anyone is on Wall Street actually protesting or raising the banner of the real issues, they aren’t getting much attention. The real issues are the prosecution-remoteness of Wall Street and its cronies, the pillage and plunder of the world using illegal and fraudulent operations (as opposed to Obama’s hugely disappointing recent assessment of “immorality”) , and the purchase of our laws and government with the ill-gained funds.
    And of course, there is my personal favorite, which is the tyranny and lawlessness of MERS, the Supreme Enabler.
    People capable of sound articulation who know s from shortcakes need to be vigilant and make sure they are the ones on camera.

  47. Keep it going – OCCUPY WALL STREET

    Make the bastards pay !

  48. […] Filed under: bubble, CDO, CORRUPTION, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage, securities fraud Tagged: bankruptcy, borrower, countrywide, disclosure, foreclosure, foreclosure defense, foreclosure offense, foreclosures, fraud, LOAN MODIFICATION, modification, Occupy wall Street, OWLS, quiet title, rescission, RESPA, securitization, TILA audit, trustee, WEISBAND Livinglies’s Weblog […]

  49. My first take was that occupywallstreet would be a “swing-vote” routine.

    I now see that Neil is correct: they are “the” vote. As for jobs . . .

    Mel Brooks had it spot on:


  50. Obama is guilty of doing that little ditty Yves Smith refers to when a sleaze politician gets in front of a mob and calls it a parade. His acceptance of the widespread criminality shows his true nature and will seal his fate….that of a one term bought and paid for plutocrat who will move to a cushy Sachs office paid for by the American people many times over. Good riddance!

  51. Obama and Tim Geithner the Two Shysters and snake oil salesperson.
    Obama defends Holder who sells heavy weapons to the Mexican Cartel
    and at the same time closes down medical Marijuana dispensaries so the Drug Cartels can make more money selling it in the streets.

    Now Tim Geithner Joe Biden are supporting the occupy wall street movement.

    We will not forget We will forgive once they are in Jail.

    UsedKar guy well written. I was gonna call them used car salesmen and Attorney’s but I did not want to affend you and Neil. (some humor).


  52. The one Huge item, we are missing here is that the Main stream citizens are being hi-jacked from extremists.

    The issue is whether we as a nation want to be ruled or be free to live our lives as free people.

    The Republicans are standing together thinking they are supporting free market policy’s, and are mistaken that Banks and Corporations will somehow respect the needs of the people.

    The Left , Democrats also have a huge problem because they are headed for a Nanny State that cannot survive. It would be nice if we all had Money, but the truth is some will always be poor.

    I believe if we don’t get the corruption out of our Government leaders, we will end up in a third world country.

    If anyone that has any respect for our Republic, they better be doing all they can to educate the middle class of this country there is NO FREE LUNCH!!

    Promoting anger against this country’s Republic is a mistake.

    These protest’s need to be focused on the corruption in Government ,starting with the President an as many senators and congressmen as possible

    It’s that obviously simple !

  53. FOX NEWS, TAKE THAT! The coverage is in from the media whether they like it or not, it’s the news. The movement is being noticed, and the awakening has begone, yeah! I can see why the politicians whether republicans or democrats want to be affiliated with and or expressing sympathy with the movement, but how dare they!

    Mr. President, just thursday said the the financial industry had to be saved in order to keep the finances of this country afloat, so to speak, but we know now that he was and is wrong. It was our money the tax payers who worked hard for, that he gave away to banks to pocket for themselves. He never held them accountable for this or any other action.

    If Obama does not think that the banks are criminals, then what planet does he live in? All of these law suits filed in this country whether by homeowners, or banks against banks does not spell out FRAU? Give me a break! Mr. Obama, no one is going to forget how you and everyone so far who holds office sat there and allowed this country fall in the black hole called Wall Street.

    I do hope that this movement truly creates a change, a real change that works for the people whom none of these officials or banks can do business without. We no longer believe in a promise for a change, we believe in the actions of those we rely on, and now we are taking some action to show that promises are not good enough.

  54. I still don’t know where Obama stands. Once agaIn, he seems to run with the hare while trying to hold with the hounds and doing a poor job of both. As usual. Where the hell is the “crack down” he is refering to? Has anyone of you seen any kind of “crack down”? When was that? What did I miss?

    Crack down is when the culprits are being brought to justice, wrongs are being redressed and people are being made whole. So far, none of it has happened, on the contrary. We’ve seen half-assed measures suggested to banks (god forbid we would order/forbid them anything, right? The bread and butter of our economy! I tasted both. I think I’d rather go hungry… Paper tastes like S*&%!) and banks using every single one of them to squeeze the screw tighter around us.

    I hate to have to write it but… I truly believe that nothing will be done until people actually start dying defending their rights. Sad commentary about humanity’s short memory. We have all the elements of information necessary to tackle the crisis and fix it. We know what was done, when, how and by whom and we know what’s in store if we don’t act fast. Yet…

    I am eagerly waiting for the leader of that third party willing to put his neck out and spell it like it is. And it ain’t gona be any of the delusional and dangerous clowns running for office…

  55. Big business is being cautious about hiring people because too many people have too much debt and are being frugal shoppers. Banks are cautious about loaning money because too many people have too much debt.

    However, the answer is not debt forgiveness, it’s debt restructuring without first being defaulted upon. Sadly, this movement doesn’t get how such a simple concept would help everybody.

  56. Just in case anybody did not pick up on it, the “bankers” doing the “counter-demonstration” carrying signs saying “we are the 1%” are street theater people, doing the best of street-theater: social irony. They are not bankers. Those are actors out there making “bankers” look absurdly self-absorbed. Brilliant!

  57. As the Dummycrats and liberals try to co-opt the OWS movement, these people in the movement hopefully won’t forget who SET THE PLAN IN MOTION: BILL CLINTON, BARNEY FRANK, CHRISTOPHER DODD, AND THE REST OF THE DEMOCRATIC INTELLIGENCIA. And we know that it wouldn’t have happened if the Repubicans didn’t sit back and watch it happen and let it occur. The Repubicans are just as entwined as the Dummycrats.

    Once again, we see the ruling class talking out of both sides of their mouthes while the media and Repubicans demagogue and belittle the sentiments of the populace. Somebody wake them up tell them that the “third party movement” needs to find some common ground WITH THE TEA PARTY, and choose to hold all of the ruling class accountable in the next election.

    It’s not going to get better until somebody takes the lead. Wake up and SMELL THE SHIT! It’s rolling downhill like an avalanche!

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