You’ll never guess where the proposed settlement money would come from. If you’re guessing working people, you’re right!
Songify the News does the New Hampshire debate:
I love this show. I loved “Rosanne,” too. We need more shows about working class people.
An interesting case. Kirk, who says he’ll vote to repeal Obamacare and is widely rumored to be a closet case, doesn’t have much net worth. But thanks to the Cadillac socialist healthcare we already provide to the members of Congress, he will not be bankrupted by his medical bills — and he certainly won’t be begging blog readers to help them pay for them. Freedom!
(NEWSER) – The Republican who replaced Barack Obama in the US Senate underwent surgery today, after suffering a stroke this weekend, his office has revealed. Mark Kirk, 52, is currently recovering in Northwestern Memorial Hospital in Chicago, the Chicago Tribune reports. “Due to his young age, good health, and the nature of the stroke, doctors are very confident in the Senator’s recovery,” his office said in a sparse statement.
Just got off a conference call with Sen. Sherrod Brown, Rep. Brad Miller, Bob Borosage, co-director of Campaign for America’s Future and Justin Ruben, Executive Director of MoveOn.org.
All I could think was, “Talk about locking the barn door after the horse is out…”
They want any mortgage settlement deal to hold banks fully accountable for their actions and include a “full and thorough investigation” into problems tied to the residential mortgage-backed securities (RMBS) market, and a guaranteed minimum amount of money set aside for reducing the mortgage principal of “underwater” homeowners in key states impacted by the foreclosure crisis.
Once again, the problem as I see it is that the same people leading the charge have also made it clear that they will support Democratic candidates no matter what. Now, you can argue whether we have any other realistic options, but telling the administration they will not actually risk losing support over sweeping criminal activities under the rug is not likely to make a difference.
As you may recall, back in October, the president announced that the bankers didn’t do anything illegal, they only used “loopholes” which have since been closed. It was a shameless statement, and I don’t remember hearing any of these too-respectful liberals call him out then (although certainly I might have missed it). But no one really rocked the boat, or I would have heard about it.
David Dayen interviews former IMF director Simon Johnson on the administration’s work to tie up a 50-state agreement to settle mortgage fraud:
DD: I am reminded in seeing this settlement of your Atlantic article The Quiet Coup, where you talked about a financial oligarchy ruling in America. Does this really reinforce that?
SJ: You know, when I wrote that a couple years ago, people were skeptical of my characterization. Now I get more people coming up to me saying, “You know you had a point.” I mean, just look at how the new White House Chief of Staff is a former Citigroup executive, and he’s replacing a fomer JPMorgan Chase executive, and he replaced a former Fannie Mae executive. The dominance and power of the financial sector is just out of control. They are treated like no other sector in the country. And it has to stop.
I feel like the Administration is arrogant on these issues. We’ll see if it catches up with them in the election. A lot of these swing states have major housing issues. I think the Obama campaign should think about that.