The Cellar - The Obamanation

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The Fact Checker

Jack Lew’s misleading claim about the Senate’s failure to pass a budget resolution

Quote:

Instead, the former budget director twice choose to use highly misleading language that blamed Republicans for the failure of the Democratic leadership.

http://www.washingtonpost.com/blogs/...1z8Q_blog.html

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Originally Posted by classicman (Post 794884)

"I Voted For Obama Because He is Black"

Just a lil levity - bold mine.

I give him props for coming out and saying the obvious. He obviously was not alone.

I voted for him because he isn't a fat pasty bald republican.

View of the "Deal" from The Economist

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The administration and various attorney generals insist that the deal would not pre-empt future suits against the banks.
But a release from Wells Fargo notes that as part of the deal it has been released from numerous categories of claims. In sum, it appears the line on litigation has been drawn finely enough for the government to say it has preserved the rights of any aggrieved bank clients and for the banks to say the deal ends a sordid legal chapter.

Election year politicking or just business as usual?

Quote:

Originally Posted by classicman (Post 795146)

Election year politicking or just business as usual?

Both, I would imagine, on one hand they don't want to appear giving in to the radicals who want everyone to get off scott free and on the other hand they are giving a small print break to the banks and lending institutions.

Federal funds flow to clean-energy firms with Obama administration ties

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Sanjay Wagle was a venture capitalist and Barack Obama fundraiser in 2008, rallying support through a group he headed known as Clean Tech for Obama.

Shortly after Obama’s election, he left his California firm to join the Energy Department, just as the administration embarked on a massive program to stimulate the economy with federal investments in clean-technology firms.

Following an enduring Washington tradition, Wagle shifted from the private sector, where his firm hoped to profit from federal investments, to an insider’s seat in the administration’s $80 billion clean-energy investment program.

He was one of several players in venture capital, which was providing financial backing to start-up clean-tech companies, who moved into the Energy Department at a time when the agency was seeking outside expertise in the field. At the same time, their industry had a huge stake in decisions about which companies would receive government loans, grants and support.

During the next three years, the department provided $2.4 billion in public funding to clean-energy companies in which Wagle’s former firm, Vantage Point Venture Partners, had invested, a Washington Post analysis found. Overall, the Post found that $3.9 billion in federal grants and financing flowed to 21 companies backed by firms with connections to five Obama administration staffers and advisers.

Obama’s program to invest federal funds in start-up companies — and the failure of some of those companies — is becoming a rallying cry for opponents in the presidential race. Mitt Romney has promised to focus on Obama’s “record” as a “venture capitalist.” And in ads and speeches, conservative groups and the Republican candidates are zeroing in on the administration’s decision to extend $535 million to the now-shuttered solar firm Solyndra and billions of dollars more to clean-tech start-ups backed by the president’s political allies.

http://www.washingtonpost.com/politi...aER_story.html

Federal funds flow to clean-energy firms with Obama administration ties

I hope this blows up in his face....

http://www.washingtonpost.com/politi...aER_story.html

Quote:

Soon after President Barack Obama touted Westport Innovation’s liquefied natural gas-powered engines April 1 at a Maryland UPS facility, the company’s top individual investor made large contributions to Democrats.

Kevin G. Douglas, Westport’s largest individual shareholder, April 8 gave more than $30,000 to Obama and the Democratic National Committee, according to federal campaign filings.

In a lucky confluence of events, a bill, supported by the president, New Alternative Transportation to Give Americans Solutions Act, designed to subsidize the migration of American vehicles from gasoline and diesel to LNG-powered engines was filed April 6 in the House of Representatives. The bill is also known by the shorthand: Natural Gas Act.

The Natural Gas Act will create federal tax credits for natural gas vehicles, storage facilities and fueling stations for a five-year period.

http://www.humanevents.com/article.php?id=49542

The background for the agreement on foreclosure procedures is becoming apparent.
The first legal action was against the CEO of one company doing the "robo-signing"
Now the California and Nevada States' Attorney Generals have a basis for their involvement.

NY Times
By GRETCHEN MORGENSON
February 15, 2012
Audit Uncovers Extensive Flaws in Foreclosures
<snip>

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Commissioned by Phil Ting, the San Francisco assessor-recorder,
the report examined files of properties subject to foreclosure sales
in the county from January 2009 to November 2011.
About 84 percent of the files contained what appear to be clear violations of law,
it said, and fully two-thirds had at least four violations or irregularities.
<snip>
The report comes just days after the $26 billion settlement over foreclosure improprieties
between five major banks and 49 state attorneys general, including California’s.

Among other things, that settlement requires participating banks to reduce mortgage amounts
outstanding on a wide array of loans and provide $1.5 billion in reparations for borrowers
who were improperly removed from their homes.

But the precise terms of the states’ deal have not yet been disclosed.
As the San Francisco analysis points out, “the settlement does not resolve
most of the issues this report identifies nor immunizes lenders and servicers from a host of potential liabilities.”
For example, it is a felony to knowingly file false documents with any public office in California.

In an interview late Tuesday, Mr. Ting said he would forward his findings and foreclosure files
to the attorney general’s office and to local law enforcement officials.

Kamala D. Harris, the California attorney general, announced a joint investigation
into foreclosure abuses last December with the Nevada attorney general, Catherine Cortez Masto.
The joint investigation spans both civil and criminal matters.<snip>

Banks involved in buying and selling foreclosed properties appear to be aware of potential problems
if gaps in the chain of title cloud a subsequent buyer’s ownership of the home.
Lou Pizante, a partner at Aequitas who worked on the audit, pointed to documents
that banks now require buyers to sign holding the institution harmless
if questions arise about the validity of the foreclosure sale.

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“the settlement does not resolve most of the issues this report identifies nor
immunizes lenders and servicers from a host of potential liabilities.”

This is somewhat misleading. It depends upon the interpretation of the deal as I posted earlier.

Quote:

banks now require buyers to sign holding the institution harmless
if questions arise about the validity of the foreclosure sale.

Gee really???

Quote:

Originally Posted by classicman (Post 795728)

This is somewhat misleading. It depends upon the interpretation of the deal as I posted earlier.

Gee really???

Obviously it will be up to interpretations, but in the courts.
The point is that a civil contract can not nullify a law.

If the banks knew about a "gap" they can not "knowlingly" a file false document.
The bank is still responsible (culpable ?) even if the Buyer signed the document,
because the bank is the party creating the contract and knowingly filiing the false document.

Again, it's whether someone's glass is half full or half empty.
I'm quit happy to see such events unfolding... as opposed to what ?

Prosecuting them - years ago.
instead of cutting them a deal at less than 25 cents on the dollar (not including punitive damages/pain & suffering etc etc etc)
during an election season and taking their money/campaign contributions.
Breaking up the too big to fail BEFORE they fail.
Separating the investments from lending. . .(dreaming)

The real unemployment rate is 15%. Obama continues to lie to the people....

http://www.cbo.gov/ftpdocs/127xx/doc...employment.pdf