Bring back Valium, the pill form of alcohol and the wonder drug of the 60s and 70s!
Predatory Lenders' Partner in Crime How the Bush Administration Stopped the States From Stepping In to Help Consumers By Eliot Spitzer Thursday, February 14, 2008; A25 Several years ago, state attorneys general and others involved in consumer protection began to notice a marked increase in a range of predatory lending practices by mortgage lenders. Some were misrepresenting the terms of loans, making loans without regard to consumers' ability to repay, making loans with deceptive "teaser" rates that later ballooned astronomically, packing loans with undisclosed charges and fees, or even paying illegal kickbacks. These and other practices, we noticed, were having a devastating effect on home buyers. In addition, the widespread nature of these practices, if left unchecked, threatened our financial markets. Even though predatory lending was becoming a national problem, the Bush administration looked the other way and did nothing to protect American homeowners. In fact, the government chose instead to align itself with the banks that were victimizing consumers. Predatory lending was widely understood to present a looming national crisis. This threat was so clear that as New York attorney general, I joined with colleagues in the other 49 states in attempting to fill the void left by the federal government. Individually, and together, state attorneys general of both parties brought litigation or entered into settlements with many subprime lenders that were engaged in predatory lending practices. Several state legislatures, including New York's, enacted laws aimed at curbing such practices. What did the Bush administration do in response? Did it reverse course and decide to take action to halt this burgeoning scourge? As Americans are now painfully aware, with hundreds of thousands of homeowners facing foreclosure and our markets reeling, the answer is a resounding no. Not only did the Bush administration do nothing to protect consumers, it embarked on an aggressive and unprecedented campaign to prevent states from protecting their residents from the very problems to which the federal government was turning a blind eye. Let me explain: The administration accomplished this feat through an obscure federal agency called the Office of the Comptroller of the Currency (OCC). The OCC has been in existence since the Civil War. Its mission is to ensure the fiscal soundness of national banks. For 140 years, the OCC examined the books of national banks to make sure they were balanced, an important but uncontroversial function. But a few years ago, for the first time in its history, the OCC was used as a tool against consumers. In 2003, during the height of the predatory lending crisis, the OCC invoked a clause from the 1863 National Bank Act to issue formal opinions preempting all state predatory lending laws, thereby rendering them inoperative. The OCC also promulgated new rules that prevented states from enforcing any of their own consumer protection laws against national banks. The federal government's actions were so egregious and so unprecedented that all 50 state attorneys general, and all 50 state banking superintendents, actively fought the new rules. But the unanimous opposition of the 50 states did not deter, or even slow, the Bush administration in its goal of protecting the banks. In fact, when my office opened an investigation of possible discrimination in mortgage lending by a number of banks, the OCC filed a federal lawsuit to stop the investigation. Throughout our battles with the OCC and the banks, the mantra of the banks and their defenders was that efforts to curb predatory lending would deny access to credit to the very consumers the states were trying to protect. But the curbs we sought on predatory and unfair lending would have in no way jeopardized access to the legitimate credit market for appropriately priced loans. Instead, they would have stopped the scourge of predatory lending practices that have resulted in countless thousands of consumers losing their homes and put our economy in a precarious position. When history tells the story of the subprime lending crisis and recounts its devastating effects on the lives of so many innocent homeowners, the Bush administration will not be judged favorably. The tale is still unfolding, but when the dust settles, it will be judged as a willing accomplice to the lenders who went to any lengths in their quest for profits. So willing, in fact, that it used the power of the federal government in an unprecedented assault on state legislatures, as well as on state attorneys general and anyone else on the side of consumers. The writer is governor of New York.>end And speaking of the of New York etc here's more “The real menace of our Republic is this invisible government which like a giant octopus sprawls its slimy length over our cities, states and nation. Like the octopus of real life, it operates under cover of a self created screen. At the head of this octopus are the Rockefellers Standard Oil interests and a small group of powerful banking houses generally referred to as the international bankers. This little coterie of powerful international bankers virtually run the United States government for their own selfish ends. They practically control both political parties, executive officers, legislative bodies, schools, courts, newspapers and every agency created for the public protection.” - John F Hylan (Mayor of New York, 1922) "The governments of the present day have to deal not merely with other governments, with emperors, kings and ministers, but also with the secret societies which have everywhere their unscrupulous agents, and can at the last moment upset all the governments' plans." -Benjamin Disraeli (First British Prim Minister) "The world is governed by very different personages from what is imagined by those who are not behind the scenes." - Benjamin Disraeli (First British Prim Minister) "Since I have entered politics, I have chiefly had men's views confided to me privately. Some of the biggest men in the United States, in the field of commerce and manufacture are afraid of something. They know there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they better not speak above their breath when they speak in condemnation of it." - Woodrow Wilson (US President) "I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -Woodrow Wilson (after signing the Federal Reserve into existence) "It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford (Industry Giant) "The one aim of these financiers is world control by the creation of inextinguishable debts." - Henry Ford (Industry Giant) "Fifty men run America, and that's a high figure" - Joseph Kennedy (US Ambassador, Father of JFK and RFK) "For a long time I felt that FDR had developed many thoughts and ideas that were his own to benefit this country, the United States. But, he didn't. Most of his thoughts, his political ammunition, as it were, were carefully manufactured for him in advanced by the Council on Foreign Relations (CFR) -One World Money group. Brilliantly, with great gusto, like a fine piece of artillery, he exploded that prepared "ammunition" in the middle of an unsuspecting target, the American people, and thus paid off and returned his internationalist political support." - Cutis Dall (FDR's Son-in-law) "The UN is but a long-range, international banking apparatus clearly set up for financial and economic profit by a small group of powerful One-World revolutionaries, hungry for profit and power." - Cutis Dall (FDR's Son-in-law) "The One-World government leaders and their ever close bankers have now acquired full control of the money and credit machinery of the U.S. via the creation of the privately owned Federal Reserve bank." - Cutis Dall (FDR's Son-in-law) Peace, Doc On Dec 29, 7:54 pm, Jim Willis <[email protected]> wrote: > It’s scary out there, no doubt about it. But; don’t panic, with our > help you can get through this and live to see Obama impeached for > diddling a male intern, I’m just saying. In these uncertain times > you’re likely to discover that alcohol will become an important coping > tool. After all, when did you ever see the drunks on an airplane panic > when the captain reports engine trouble? While the teetotalers are > making deals with God, wetting their pants and running up and down the > aisle with their hair on fire; the inebriated are in the back of the > plane singing, “Red Neck Mother”. All I’m saying is consider vast > quantities of booze; and, by the way, I recommend Kentucky bourbon. > It’s as smooth as a prom queens thighs and only half as risky. > > As economic Armageddon befalls every financial sector you will suffer, > “Social collapse run-down economic woes ebullition derangement” or > “SCREWED”. And; while there isn’t a cure there is a treatment. > Pharmaceutical trials have shown Thorazine to be effective in > treating, “SCREWED”. Side Effects include drooling, lazy eye, > hallucinations, hair loss, sexual side effects, seizures, anal > leaking, Chlamydia, diaper rash, bleeding gums, bubble butts, suicide, > sewer rats, thumb sucking, necrophilia, necropsy, warts, freckles, > coma, whimpering and death. As with all medicines, consult your > healthcare provider before taking any medication. If you don’t want to > get, “Screwed” consider Thorazine. Thorazine also comes in a colorful, > cherry flavor for children and is safe for infants. Pick some up > today! > > Sooner or later it’s going to happen. You’ll be standing on a street > corner trying to talk yourself out of jumping in front of the next > bus. That’s normal; trust me. It’s not going to be easy keeping a > positive attitude with the world falling down around you. However; > there are proven techniques you can employ to, “Sunny up” your > horizons. We suggest Hookers. That’s right; hookers. Cheap hookers > will put a smile on your face and a song in your heart. And; under an > Obama administration they are tax deductible. If you’re really lucky > you’ll get a fatal STD that will put you out of your misery. When > visiting that hooker, be sure you tell her Conservative Springfield > sent you. You’ll get a discount and we’ll get our cut. Everybody > wins! > > In trying times it always makes you feel better when you come across > someone worse off than you. That’s just human nature. When you’re > really down we suggest visiting an orphanage, burn unit, critical care > facility or morgue. Once you see just how destitute, despondent and > dead others are, you can’t help feeling better about yourself. After > all; it’s all about perspective and your relative position to those > less fortunate than you. So, revel in someone else’s misery and feel > better about your lot in life. Proving, once again, misery does love > company. > > Just a couple more tips. Taking for granted that you will lose your > home shortly after Obama takes office you’ll be shopping for an > apartment or refrigerator box. Make sure to get one on the first > floor. As your depression about the depression worsens, you will be > tempted to jump out the window. > If for any reason you have to replace your stove; get electric, not > gas. That way, when you feel the urge to put your head in the oven, > you’ll just singe a little hair. > Just remember; whatever’s left after four years of Obama we can sell > to Mexico for kindling. I’m just saying. > Conservative Springfield 29 DEC 08 --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. 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