“I didn’t serve in Iraq to have this happen to me.”


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EDITOR’S NOTE: OCCUPYERS  continue to get traction and now they are feeling the pressure of push-back from the establishment they are challenging. As the movement continues to grow in numbers and intensity, the political landscape will change. Mainstream media is starting to ask the question “Where did $16 trillion go?”

I have interviewed many people from all sides or facets of the political and ideological spectrum. The common theme that unites them is that the government should have pumped money into the hands of people who would actually do something with it to stimulate economic activity instead of giving it to Banks who used it to bolster reported “profits” and continue paying outlandish bonuses to executives.

Even amongst those who opposed giving relief to homeowners in the form of principal reduction are starting to change their tune. They still don’t like giving borrowers a “windfall” but they realize that the debt on those homes has already been paid (perhaps multiple times) and that asking the borrowers to pay it again through loss of their homes and jobs is only hurting the country. They see Banks as being the largest welfare recipients in our history and they don’t like it.

This mess can only be cleaned up through resolution of the securitization scheme that was shoved into the American economy for more than 10 years. The resolution starts with an accounting, which is being done in bits and pieces in courtrooms across the country. Where did the money come from and where did it go — investors and borrowers are both asking the same questions. When those questions are answered, and they will be, we will know how to apportion the risk and the loss from the securitization scheme.

One thing is becoming clear — the Banks were intermediaries whose money was not on the table when the loans were funded. They then threw losses stemming from non-payment by borrowers and losses from “trading” onto the investors, the homeowners and most of all, the American taxpayer.

They keep getting funded and rewarded with money and homes on debts they never funded to begin with — and get they further rewarded for pressing foreclosures when there are alternative settlements available that would put both the creditor and debtor in a better position than the sale of the property in foreclosure. 

And one thing will become clear — out of the money that investors gave to Wall Street to fund mortgages, only a portion actually went to fund mortgages. The rest stayed in the pockets of Wall Street firms and insiders who received money on top of money from the Federal government.

Every lawsuit involving a loan claimed to be securitized or which was treated as securitized when the flow of of the money is finally subject to an accounting should be pressing the court for a “FULL ACCOUNTING” of all money in and all money out to determine the current balance due to the investor/lenders, whether the pool has since been dissolved or resolved, and whether there actually is a default, since the servicer in most cases appears to be making payments to the creditor under a separate agreement.

Occupy DC demonstrators arrested by U.S. Park Police

This post has been updated.

U.S. Park Police began arresting members of the Occupy D.C. demonstration just before noon Sunday after police and protesters clashed over a wood building the group began constructing at McPherson Square
Officers surround the wooden structure with police tape. (Michael Bolden/The Washington Post) Police gave demonstrators a one-hour deadline to start dismantling the two-story plywood structure Sunday morning and then began moving in when that deadline passed. Police on horseback cordoned off the area, and officers removed protesters one-by-one before putting them in handcuffs and taking them into custody.

About a half-dozen demonstrators had been arrested as of 1 p.m., and there were more than 20 demonstrators sitting inside the building apparently unwilling to move.

It was a rare confrontation between police and the Washington demonstrators, who had up until now avoided the clashes that Occupy protests in other parts of the country have experienced, such as in Boston, New York and California.

The arrests Sunday were peaceful and orderly, but some demonstrators clung to the wooden framework of the structure and refused to move, including at least two who climbed onto the roof and sat on the building’s ridge. Others sat inside the unfinished building and waited for police to enter and take them out. Some were handcuffed and put on the ground and later taken to waiting police vehicles.

Police appeared to be focused on the building itself and were not trying to remove the small tent city that has occupied the square for weeks.

The building, on the grassy southwest side of the square near the Metro entrance, sparked the issue early Sunday. Police surrounded it shortly after 10 a.m. and gave protesters an ultimatum: Take it down, or we will.

After discussing a way forward for an hour — demonstrators debated whether it was worth making a stand for the structure after lengthy good relations with police — roughly a dozen demonstrators remained inside at the deadline. Police told demonstrators they would need a permit to erect such a building.

As police moved in, some chanted: “Leave us alone. These are the people who oppress us.”

Michael Patterson, 21, of Anchorage, said the structure was meant to symbolize the need to house the homeless. It had been covered with a blue tarp until shortly before the arrests.

“It is counterrevolutionary to occupy space with a permit,” Patterson told the crowd. “Why don’t the cops care about sheltering the homeless in the streets?”

Other demonstrators said the building was designed to provide demonstrators a place to go when it gets cold, and they were planning to build an “eco-friendly” heating device to make the structure sustainable. Group chants escalated through the early afternoon, and there was an increasing amount of scuffling, shouting and shoving.

Patterson later approached police shouted in their faces, urging them to arrest him. And they did, dragging him away from the square as he shouted: “I didn’t serve in Iraq to have this happen to me.”


3 Responses

  1. A comment made by a tourist….

    “This is nuts. Instead of spending 50 days in the park, they could have been looking for jobs,” said Spence Levitas, 69, of Baltimore. “If they are not happy, move to Pakistan or Tahrir Square.”

    Answer me this Spence Levitas, 69, of Baltimore…..WHAT JOBS???????????????????????????????????





  3. The “Government” does not seem to reflect on the contrast with its own behavior: it spends tens of millions every year in building vast structures [bleacher structures] so that the populace can [after buying a ticket] sit there to watch two politicians walk between the White House and the Congress Building every four years. Nobody is issuing a Permit for those structures, either.

    Then again, the President’s idea of “public housing” is a bit different for himself. What is that place, 40,000 sq. ft. for one family?

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