Obama’s Shameful Mortgage Settlement

February 10, 2012

By Cole

President Obama has punished crooked mortgage bankers — by giving them a big kiss on the lips.

The 5 biggest banks have to cough up $25 billion in restitution — and Obama thinks we’ll see that BIG number and think, “Gee, he really NAILED them!”

Realistically, how far does $25 billion go?…

Right now, 11 million homeowners are “underwater,” which means they owe an estimated $700 billion more on their homes than the homes are now worth. Under this deal, maybe 1 million, about 9%, can get their loans modified. That won’t even begin to put a dent in it.

Obama said the settlement “will speed relief to the hardest-hit homeowners, end some of the most abusive practices of the mortgage industry and begin to turn the page on an era of recklessness that has left so much damage in its wake.”

Is he KIDDING?

The “hardest-hit” were the estimated 8 million suckers who fell for predatory loan terms and ended up on the curb. Under this settlement, about 750,000 will get a check for $2,000 — and the banks have 3 YEARS to get around to paying it.

Meanwhile, the banks were granted added protection against states pursuing civil charges against them.

Homeowners can still file criminal charges, but rotsa ruck to the little guy who couldn’t even make his mortgage payments prevailing over a bank’s army of lawyers in protracted litigation.

This settlement represents a limp-wristed swipe at bank profits. Even worse, NO bank honcho who condoned unscrupulous loans, or foreclosed with bogus documents and bank employees forging signatures, is going to jail.

There’s more: The banks are now free to complete millions MORE foreclosures they had on hold during negotiations. More homeowners already down on their luck can just bend over and wait for the screw job.

Mike Heid, president of Well Fargo Home Mortgage, said this “represents a very important step toward restoring confidence in mortgage servicing and stability in the housing market.”

It’s a total OUTRAGE that Obama or the banks think they’re fooling anybody.

Once again, when faced with bankers’ greedy, unethical, criminal behavior that is leaving millions of Americans in financial ruins, Obama rolls over and lets the bankers scratch his belly.


Thanksgiving Friday Gives ‘Black’ a Bad Name

November 29, 2011

By Cole

All we’ve heard for the last week is “Black Friday, Blah, Blah, Blah,” with idiots camping out in front of their favorite stores to be first in line for bargains.

Some stores were open Thanksgiving Day, showing their gratitude to their employees by denying them a day with their families in the name of profit.

Other retailers showed a tad of restraint by not opening until midnight. Target even claimed its employees were “enthusiastic” about working the red-eye shift, essentially spitting in the face of one Nebraska employee, who got 200,000+ signatures on a petition begging Target to open at 5 a.m.

In a West Virginia Target, shoppers stepped around and over a 61-year-old man who collapsed in the aisle. His wife said some nurses who happened to be there performed CPR until the ambulance came, but the man died. No mention of any rescue effort by Target.

A Florida Target employee who worked the midnight shift was so exhausted, she drove into a canal on the way home. Fortunately, she was fished out alive.

But when it comes to sheer tackiness, there’s no beating Walmart. In California, a woman pepper-sprayed at least 14 customers throughout the store, then paid for her stuff and waltzed out without any Walmart employee confronting her. She turned herself in to police later when her behavior became national news, but may not be charged if they decide she acted in “self-defense.”

All over the country, shoppers were attacked and robbed trying to get home by crafty thieves who avoided the crowds INSIDE stores by grabbing stuff after someone else bought it.

When people in other countries see obese Americans obsessed with pigging out on Thanksgiving, and turning homicidal over cheap big-screen TVs, video games, and other junk they don’t need, there’s no way the U.S. can lead the world in anything.

But I’m proud to say that many animal shelters (including the Cats Working gang’s former joint, the Richmond Animal League) used Black Friday to help their usually-hard-to-place inmates find homes by reducing or waiving adoption fees for cats and dogs who are all or partially black.

Instead of fighting over meaningless stuff, why don’t people consider doing NICE things for someone for a change? Isn’t that what this so-called “Christian season of GIVING” is supposed to be all about?


Obama Passes Through – Again

October 18, 2011

By Cole

President Obama’s back in town when his bus rolls into Richmond tomorrow about 6.5 miles from here — as close as I’ll ever get to him — to talk about his jobs plan.

Obama’s destination is a fire station where he’ll talk to firemen, some county employees, and a smattering of local officials. The public is not invited.

Obama couldn't fit much of the public in here, anyway.

It’s Obama’s last stop on a 3-day tour through North Carolina and Virginia. He flew Air Force One to Asheville, NC, where he hopped onto the armored bus the Secret Service drove down for him.

After the fire station visit, Obama will fly the short hop back to DC — presumably on AF One — while his bus toodles up I-95 below him. This raises several questions:

Q: What happens if there’s a fire while Obama’s in the firehouse? Do they just let the place burn?

A: The fire trucks will be parked outside so the firemen can discreetly respond. Not that I wish ill on anyone, but wouldn’t it be funny if fire broke out and the room emptied on Obama? I bet he’d be rethinking that “no public allowed” decision.

Q: Why is Obama wasting double fuel traveling by air while his bus makes the same trip without him?

A: Hmmmmm… Good question. Obama?

Q: What’s Obama’s point? Does he really expect to gain broad support for his jobs plan by sneaking through town, snubbing voters?

A: It’s probably a money thing. The Miami Herald questioned who pays for this trip.

If Obama doesn’t appear before hordes, he can’t be accused of campaigning, so taxpayers must foot his travel expenses. But if so, why should ALL taxpayers pay for his visits to only a handful? And why should they have to pay for a plane AND a bus to make the same trip?

While thousands of Occupy Wall Street people are in the streets protesting greed and reckless spending, Obama thinks it’s a good idea to joy-ride/fly through two nearby states which are, coincidentally(?), critical to his re-election, pretending he’s not campaigning so he won’t have to pay for it.

And he wonders why his cred is in the toilet.


Congress Deserves a Beating

August 5, 2011

By Adele

Contempt has to stand on tip-toe to see Congress these days. Our so-called “representatives” behaved like a pack of selfish, spoiled brats, playing the self-inflicted crisis to the hilt, milking out every last drop of drama until they unveiled a joke of a debt “deal” minutes before high-tailing it out of DC for thoroughly undeserved vacations.

In their wake, the stock market crashes and burns — again — devastating the retirement accounts of ordinary people who felt they were just crawling out of the hole Congress dug last time it diddled while Wall St. flushed the economy down the toilet.

It’s inconceivable to think anyone is stupid enough to buy into Republicans’ infantile refusal to face economic reality. 

But then you turn on the TV and there’s Sarah Palin.

Any idiot knows that if you spend wildly beyond your means, you don’t recover by “cutting back” on future spending, but by raising more money to pay the bills you owe RIGHT NOW.

Conservatives think they’re being slick, railroading Obama into turning the U.S. into a deadbeat debtor with no choice but to file bankruptcy, ruin its credit, and earn worldwide disgust like we’ve never seen before. 

All that, just to get a black man out of the White House.

Yeah, it must be racism, because their stated rationale that the wealthy need to be even wealthier so they can create jobs is just plain NUTS.

Give me one example since 2008 of some American billionaire starting a company and hiring thousands of new workers.

No, I didn’t think you could. 

What smart billionaires do is game the tax system and outsource decent jobs so they can shaft the government and their workers, keeping the lion’s share of profits for themselves — and lapdog politicians.

To top it off, we’ve got Eric Cantor rubbing Virginia’s nose in it with an ad claiming he’s “a leader who shares our values.”

Sure, if our values included mugging homeless, jobless people, children, the sick, and the elderly so fat-cats in banking, insurance, and real estate have more money to pour into Cantor’s campaign coffers. You don’t have to look hard to see where his loyalties lie.

In the meantime, while the Repubs and Tea Partiers dance a jig, thinking they struck a blow against Big Government, we see prices on EVERYTHING rising because the money has to come from somewhere.

As always, it will come from ordinary Americans, once again getting shafted by the people they elected.


Cantor Stomps Obama’s Last Nerve

July 15, 2011

By Yul

It was a sweet moment when John Boehner put his arm around House Majority Leader Eric Cantor and reassured everyone he doesn’t think Cantor’s an asshole. But “Boner” is in a dwindling minority.

Cantor is MY Congressman, and if cats could vote, he wouldn’t be elected dog-catcher. His insatiable need to top his own douchebaggery knows no limits.

Cantor looks like the creepy kid everybody either ignored or bullied in school. He probably entered politics just for spite, and fell into a tub of butter when the Republicans regained Congress in the mid-terms and made him House Nerd Majority Leader, with endless opportunities to diss the president.

Who can forget the time Cantor met with Obama on healthcare and showed up lugging the 2,000+-page bill as a prop to piss Obama off?

Or during the initial debt ceiling meetings with Biden, when Cantor flounced out with his tail in a fluff?

Cantor misses no Obama-baiting opportunity to show his solidarity with Virginia’s 7th District closet bigots who have kept Cantor in Congress since 2001.

Just this week, when Obama headed the latest debt ceiling meetings, Cantor allegedly interrupted Obama 3 times, repeatedly suggesting a short-term fix. Obama finally smacked Cantor down, warning, “Don’t call my bluff.” Cantor later claimed Obama “stormed” out of the meeting in a hissy fit.

No, Eric. That’s what they have you for.

These talks themselves are ridiculous. A bunch of suits throwing around trillions as if they really know how much money that is. Making grand 10-year projections they won’t be around to carry out.

And it came as no surprise to learn that Cantor is betting AGAINST the government that furnishes his livelihood and healthcare. He invests in ProShares Trust Ultrashort 20+ Year Treasury EFT, which is projected to skyrocket if the U.S. financial situation tanks.

It’s maddening that gullible voters can be snowed by Republicans who scream, “No tax increases…!” without listening to the whole sentence, which is, “No tax increases for the WEALTHY and BIG CORPORATIONS!”

Meanwhile, Obama, the Great Compromiser, is prepared to throw 60-somethings under the bus AGAIN to appease those greedy SOBs. He’s offered to raise eligibility for Medicare to 67. Why not? Obama tossed near-retirees like bloody chum to insurance industry sharks, lettng them be ripped to shreds on premiums until 2014, before any meaningful healthcare reform kicks in.

The further into poverty with no safety net Cantor and other avaricious Republicans can shove the poor and middle class in any way, while claiming to be saviors, the bolder they become.

When are voters going to wake up and stop the madness?


Washington Fiddles While Drivers Get Burned

March 4, 2011

By Cole

The Middle East gets into a self-inflicted muddle and the news is suddenly full of stories about gas prices spiking to $4 a gallon and counting.

How much you want to bet that, next quarter, our major oil companies will break previous records AGAIN for unconscionable profits?

Today, they’re mumbling excuses that places like China are straining supply with their growing consumption. They know Americans aren’t going to buy the line that their driving habits are driving up prices. Too many people are out of work and too many people are still driving less since Big Oil’s last huge faux crisis after Hurricane Katrina.

I’m no mathematician, but if gas prices rose parallel to the cost of oil, oil company profits should remain flat. Yet they never do.

Oil companies seem to be pouncing on the opportunity to gouge while they can blame the Middle East.

Since nobody can predict when the Middle East will ever calm down (which is probably never), it’s Big Oil’s intention to inflate prices meteorically before anybody can stop them and make it the new “normal” for American families to spend most of their disposable income on gas. A year from now, “cheap” $5 gas will seem like something we dreamed.

As usual, Washington sits on its thumbs, waiting for another recession to hit before it even thinks about taxing Big Oil’s windfall profits. After all, the more money Oil has, the more politicians it can buy. So what if “little people” have to choose between gas and food?

Every price jump at the pump will fuel consumer fury, culminating in the next obscene oil profit announcement, and that fury will head for Washington like a freight train just as the 2012 election campaigns kick off.

Meanwhile Congress is playing on the tracks with oil company lobbyists.


Obama, Abandon All Hope for the Gulf

June 16, 2010

By Yul

Smell that meat roasting? It’s Congress grilling oil executives.

Predictably, the slimy crooks testified they never, in a million years, would have dug a well as crappy as BP’s. Boy, were their faces red when someone pointed out their wells are all pretty much the same, and that they obviously copied each other’s Gulf contingency plans, right down to the part about ensuring the safety of non-existent walruses.

Meanwhile, on a still-pristine Florida beach, Obama was taking a stroll with governor Charlie Crist so pointless that he might as well have brought the wife and kids so they could also enjoy it before the tar balls and dead fish start washing ashore.

Only hours before he made his big speech to the nation about the spill, I think Obama could have staged a more compelling lead-in by wading ankle-deep in oil and picking up gunk the size of horse droppings while sucking up some fumes.

I listened, and Obama said some things right, but so what? Tough talk is moot. The ass he should have kicked was the oil’s — as soon as it started leaking.

Today Obama finally met face-to-face with the face we’re all sick of seeing — BP CEO Tony Hayward — and got BP to agree to pony up $20 billion for damages, to be administered by some lawyer, Kenneth Feinberg.

At least Obama didn’t ask Goldman Sachs to handle it. They’d have siphoned off half in fees so their executives could get nice Christmas bonuses this year.

But it’s too late to make things right now. Hundreds of millions of gallons of oil are doing their deadly worst, and we’ve got a president who wasted too much precious time naively trusting BP.

Instead of gratefully accepting international offers of help, for whatever reasons, Obama chose instead to dump the problem squarely in the laps of the region’s unsuspecting and ill-equipped population, and they’ve got to live — and die — with it.

Promising 2 months in to throw everything at the problem is too little, too late. “Everything” won’t cut it with BP expecting the leak to continue into August. Right now they’re preparing to burn the oil they’re capturing.

I guess the rationale for creating more pollution on a grand scale is, “If we can’t kill all the birds in the water or on land, let’s kill ‘em in flight.”

And you don’t hear Obama complaining.


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