Pro-Ron Paul outburst does not compute

It didn’t get much mainstream media play compared to Ann Romney’s kitsch-y speech, but I’ll bet the chanting was almost disorderly enough to fry the Romneybot’s hard drive:

Delegates were finding their seats on the floor of the Republican National Convention on Tuesday when a commotion broke out in the back corner, near the Maine contingent.

Delegates and audience members erupted into chants of “Let him speak!” and “Seat them now!” Some waved signs proclaiming, “I am the Ron Paul Revolution,” and burst forth with a soccer ditty: “Olé, olé, olé, olé. Ron Paul, Ron Paul!”

Onto the floor, surrounded by cameras, microphones, stage lights and a crush of escorts and fans, strode Paul himself, in a purple lei bestowed upon him by Hawaii delegates. One delegate asked whether the libertarian gadfly came to stir up trouble for Mitt Romney.

Paul smiled. His message, he said, was unchanged: “Liberty, prosperity and peace.”

But peace was not on the agenda in the Tampa Bay Times Forum for this afternoon.

The Romney campaign had taken pains to stifle the Paul rebellion, by denying him a speaking role, expediting the roll call, changing party rules and even unseating Paul delegates from Maine. But as Romney and the Republicans have learned repeatedly this week, politics does not always go according to plan…

More here.

Peasants watch party

On Thursday as Mitt Romney accepts the Republican party’s presidential nomination, local community members will gather at the Borough Pub in Bristol at 8:00pm for a “peasants” watch party in mock-celebration of what many are calling a “coronation.”

Former Congressman and MSNBC commentator Patrick Murphy will be making a guest appearance. A group of local RNC protesters who just returned from Tampa will also be in attendance and will share their experiences. Click here, here and here for clips of the PA 99% protesters in action.

WHAT: Romney Coronation Peasants Watch Party
WHO: PA Working Families
WHERE: The Borough Pub, 1800 Farragut Ave, Bristol, PA 19007
WHEN: Thursday, August 30, 8pm

Taibbi exposes Mitt

The story of Mitt Romney and Bain Capital:

Debt, debt, debt. If the Republican Party had a James Carville, this is what he would have said to win Mitt over, in whatever late-night war room session led to the Ryan pick: “It’s the debt, stupid.” This is the way to defeat Barack Obama: to recast the race as a jeremiad against debt, something just about everybody who’s ever gotten a bill in the mail hates on a primal level.

Last May, in a much-touted speech in Iowa, Romney used language that was literally inflammatory to describe America’s federal borrowing. “A prairie fire of debt is sweeping across Iowa and our nation,” he declared. “Every day we fail to act, that fire gets closer to the homes and children we love.” Our collective debt is no ordinary problem: According to Mitt, it’s going to burn our children alive.

And this is where we get to the hypocrisy at the heart of Mitt Romney. Everyone knows that he is fantastically rich, having scored great success, the legend goes, as a “turnaround specialist,” a shrewd financial operator who revived moribund companies as a high-priced consultant for a storied Wall Street private equity firm. But what most voters don’t know is the way Mitt Romney actually made his fortune: by borrowing vast sums of money that other people were forced to pay back. This is the plain, stark reality that has somehow eluded America’s top political journalists for two consecutive presidential campaigns: Mitt Romney is one of the greatest and most irresponsible debt creators of all time. In the past few decades, in fact, Romney has piled more debt onto more unsuspecting companies, written more gigantic checks that other people have to cover, than perhaps all but a handful of people on planet Earth.

By making debt the centerpiece of his campaign, Romney was making a calculated bluff of historic dimensions – placing a massive all-in bet on the rank incompetence of the American press corps. The result has been a brilliant comedy: A man makes a $250 million fortune loading up companies with debt and then extracting million-dollar fees from those same companies, in exchange for the generous service of telling them who needs to be fired in order to finance the debt payments he saddled them with in the first place. That same man then runs for president riding an image of children roasting on flames of debt, choosing as his running mate perhaps the only politician in America more pompous and self-righteous on the subject of the evils of borrowed money than the candidate himself. If Romney pulls off this whopper, you’ll have to tip your hat to him: No one in history has ever successfully run for president riding this big of a lie. It’s almost enough to make you think he really is qualified for the White House.

The unlikeliness of Romney’s gambit isn’t simply a reflection of his own artlessly unapologetic mindset – it stands as an emblem for the resiliency of the entire sociopathic Wall Street set he represents. Four years ago, the Mitt Romneys of the world nearly destroyed the global economy with their greed, shortsightedness and – most notably – wildly irresponsible use of debt in pursuit of personal profit. The sight was so disgusting that people everywhere were ready to drop an H-bomb on Lower Manhattan and bayonet the survivors. But today that same insane greed ethos, that same belief in the lunatic pursuit of instant borrowed millions – it’s dusted itself off, it’s had a shave and a shoeshine, and it’s back out there running for president.
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Bank of America hasn’t modified one mortgage since settlement

And I wouldn’t hold my breath, either!

Bank of America Corp hasn’t completed any first-mortgage modifications that reduce loan balances for borrowers so far under a $25 billion settlement reached this year, the official monitoring the agreement said Wednesday.


Five financial institutions that are part of the settlement have provided $10.6 billion in consumer relief from March 1 to June 30, with $8.7 billion in the form of short sales in which customers sell their homes for less than the mortgage’s value. Bank of America produced $4.8 billion in short sales, the most of the five banks, according to the first report by settlement monitor Joseph Smith.


JPMorgan Chase & Co completed $367 million in first lien modifications in which borrowers had their loan balances reduced, about half of all modifications.

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