COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE

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



COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE

EDITOR’S NOTE: The Times Editorial hits the nail on the head, but uses the wrong hammer. Jobs and growth of the middle class is the only thing that will stand between us sustaining ourselves as a world power or becoming a banana republic. Jobs and growth are not magical concepts that suddenly happen when you waive a wand.

Jobs are created when businesses start and grow. Businesses start and grow with capital. Wall Street, directly or indirectly is holding $3.5 TRILLION hostage in its effort to force Obama from office while it starves the economy and literally takes food of the plates of tens of millions of Americans. The capital held by Wall Street is NOT the capital of Wall Street, it is the money stolen from other people that Wall Street is holding.

That money was stolen in the world’s largest financial fraud of all time — something that will remain unequaled for decades, perhaps hundreds of  years. They did it with the sale of exotic instruments to investors, betting against those investments because they knew they had the power to torpedo the investments, and the tools of destruction were exotic mortgages where even the simplest looking transaction was based upon fraudulent appraisals, non-disclosure of important information required by law, and in particular using conduits as though they were lenders, thus achieving insulation from charges of predatory and fraudulent lending practices. In fact the entire mortgage mess was really just part of the larger scheme of the issuance of unregulated securities in fraudulent schemes to deprive investors, pension funds and homeowners of what little they had left to survive.

As with all crimes against society the only way to cover them up is with more fraud. More deception and more intimidation. So the paperwork is mostly fabricated, forged and unduly notarized documents pretending to attest to the authority and knowledge of signors. But the paperwork is a distraction from the fact that the the “mortgage” transactions were really part of the securities issuance. This actually makes the signing of the mortgage documents an integral part of the issuance of the mortgage bonds. That changes the character of the transaction and probably the laws that apply.

Applying existing laws without any changes to substantive law, procedure or the rules of evidence, the banks will lose, pure and simple. Every time a Judge takes a close look at some piece of paper that is

  • signed by “John Jones, as authorized signor (it doesn’t even say agent) [without any document showing agency authority],
  • on behalf of XYZ corporation, as attorney in fact (same defect),
  • as successor to ABC, as servicer (under a PSA in which the loan transfer requirements were never satisfied and therefore never completed),
  • for the DEF Trust (a non-existent trust that is actually a general partnership),
  • on behalf of JKL Corp. Trustee (a trustee of a Trust that never existed because it lacked the elements under New York State law to create a common law trust, and in which the powers of the trustee actually amount to nothing once you read the whole document purporting to describe the “trustee”)”
  • all out of the chain of title using some private system of keeping track of the owners thus depriving anyone of the knowledge as to who can sign a satisfaction of a mortgage that was obviously never perfected into a valid lien, even though ti was recorded —
  • every time the Judge really looks —- he/she decides this smells to high heaven and that the entire process is defective.
  • There is no lending institution in existence that would accept such a signature from an agent for a borrower.
  • That they accept it from each other as they treat the loan was though it was transferred even though it wasn’t is just a game without risk because nobody is paying anything for the loan and nobody funded the loan except the hapless pension fund whose money was taken for fees first and mortgage later.

Housing drives the economy directly and indirectly. So if we want to see a change we must bring the banks and big business to task, force them to act like good citizens and return the favor of special tax treatment and subsidies with growth money, start-up money and easier credit for consumers, who drive 70% of the economy. Ignore housing and you abandon hope of a solution. Ignore consumers and their jobs and earnings, and you have disrupted 70% of the economy with no prospects for improvement.

Somehow the banks continue to be heard on their spin that it is better to let them keep the proceeds from stealing the purse than to give it back to the consumers from whom they stole it. That is ending now with Occupy Wall Street. The OWLS are wise beyond their years.

More Bleak Job Numbers

It would take a lot of optimism to put a positive spin on the jobs report for September, released on Friday by the Labor Department.

Employers added 103,000 jobs last month, allaying fears, for now, of a double-dip recession. But even if the economy avoids another contraction, the numbers confirm that the job market is in a deep rut that is, for all purposes, indistinguishable from recession. There are still 14 million people officially unemployed, and nearly 12 million more who have given up actively looking for work or who are working part time but need full-time jobs.

Earlier this week, President Obama and the Federal Reserve chairman, Ben Bernanke, delivered bleak economic assessments, which demand a government response. The economy, already at a crawl, could well slow down further in response to economic setbacks in Europe and China or to homegrown problems like political gridlock that delay spending on job-creation efforts.

The economy is not producing enough jobs, and many of the ones created are lousy. Much of last month’s job growth came as 45,000 striking Verizon employees returned to work. Without that one-time boost, the economy added only 58,000 new positions in September, roughly in line with the slow pace of job creation over the past several months.

That is not nearly enough to lower the unemployment rate, which is at 9.1 percent and is almost certain to rise in the months ahead, barring an unexpected upsurge in economic activity.

The new jobs are generally in lower-paying fields, like home health care, and in part-time and temporary employment. These kinds of employment may be better than no work, but they are generally not the types of jobs that allow workers to get ahead.

The September report also shows the permanent scars caused by persistent joblessness. The share of workers who have been unemployed for more than six months increased from 42.9 percent to 44.6 percent, near its record high from early last year. That is likely to translate into irreversible reductions in the standard of living for millions of Americans because the longer one is unemployed, the harder it becomes to find new work, especially at previous pay levels.

Children will be among those most harmed by the jobs crisis. The Economic Policy Institute, using data from the September report, has calculated that 278,000 teachers and other public school employees have lost their jobs since the recession began in December 2007. Over the same period, 48,000 new teaching jobs were needed to keep up with the increased enrollments but were never created. In all, public schools are now short 326,000 jobs.

At a time when more and better education is seen as crucial to economic dynamism and competitiveness, larger class sizes and fewer teachers are the last thing the nation needs. Staffing reductions also mean that schools are less able to respond to the needs of poor children, whose ranks have increased by 2.3 million from 2008 to 2010.

The situation calls out for swift passage of Mr. Obama’s jobs bill and even more far-reaching efforts to revive growth and employment. The alternative is lasting damage from a jobs crisis that has already done enormous harm to families and communities.

%d bloggers like this: