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Notes from Larry:

I wish to thank those of you who come to this site even though I have been absent for quite some time. This site has a very important purpose. There is much to say and much to hear from all of you.

For those of you who might be wondering about m;y health, I am happy to report that I have fully recovered and am healthier and stronger then I have been in over 20 years. My health was not my reason for my absence. I just needed some time away and appreciate your understanding. I will, however, be back right after the New Year.

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February 20, 2010

Barack Obama's "Change" Is To "Not Change" The Status Quo of Banksters

Many comments on this blog relate to the foreclosure crisis, failed loan modification and short sale attempts.  While this blog is not foreclosure related as is my sister blog TheForeclosureDetnoatorFORUM I will attempt to enlighten -  the millions of Americans and many of our readers - who have concerns regarding their home loans by addressing their comments and issues in this blog. 

IndyMac Sale To One West and The Mod/Short Sale Scam

FDIC placard from when the deposit insurance l...
Image via Wikipedia
The FDIC, working hard to insure your demise.




Click read the full story and view the short video.  While this is primarily about the FDIC's sale of IndyMac Bank to One West Bank the incentives detailed in the video are similar across the board.

In a related story on here is how one man is fighting back.

Frustrated Owner Bulldozes Home Ahead Of Foreclosure
Man Says Actions Intended To Send Message To Banks 
Click on this link for full story

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  1. February 21, 2010
    Obama’s ‘Chicago mafia’ blamed for paralysis at the top

    “This administration has managed to divide its friends and unite its enemies,” said Steve Clemons, director of the American Strategy Programme at the New America Foundation.

    He and others lay the blame on the Chicago team, advisers from Obama’s adopted city. “Obama’s West Wing is filled with people who are in their jobs because of their Chicago connections or because they signed on early during his presidential campaign,” complained Doug Wilder, who in 1990s Virginia was America’s first elected black governor and was an early backer of Obama. “One problem is they do not have sufficient experience at governing at the executive branch level. The deeper problem is that they are not listening to the people.”

  2. These guys are so out of touch Im starting to think their holograms:

    * FEBRUARY 22, 2010

    Bailout Anger

    Interviews with dozens of government officials show that Mr. Geithner has acted as a brake on administration officials seeking punitive action against big financial firms.

    Last year, in a previously unreported move, he resisted efforts to oust Citigroup Chief Executive Vikram Pandit as a condition for more government aid, according to administration officials. He successfully argued against ripping up contracts that controversially allowed millions of dollars in bonuses to be paid to American International Group employees, stating: "This is not Bolivia," according to two people who heard him say it.

    In interviews, top White House officials—including Rahm Emanuel, the president's chief of staff, and senior political adviser David Axelrod—said Mr. Geithner's job is secure. "The president's view is that Tim is one of the stars," Mr. Emanuel said. "Tim was an essential and a key player in developing a strategy that helped restore confidence and turn the whole country around."

  3. Elizabeth Warren: Why Washington Is Not Reforming the Financial System

    "The problems could not be more obvious, and quite frankly, the solutions are just about that obvious, but we just can't seem to get the two together...The reason that we are not changing things right now is because the banks have lobbyists in Washington in numbers I have never seen...People who just want to advocate for American families, people who want some changes to level the playing field do not have that kind of lobbying power. And so what we are really watching here is a David and Goliath story."

  4. Thank god we made everyone at TBTF
    rich enough so they don't ever have to work must take us all for JACK A$$E$:

    20 unemployed vie for every one NYC position

    No recovery here.

    While economists say the Great Recession has ended and numbers out of Washington say the economy is growing at a robust pace, the local jobs picture remains bleak -- with just 21,500 city jobs in the state Labor Department's Jobs Bank for the 425,000 unemployed to fight over.

    That works out to 20 people vying for every position

  5. Wealth Disparities in U.S. Approaching 1920s Levels

    All the government has done is bail out Wall St. continuously since 2008. My guess is the disparity of wealth in this chart would look even worse if it included 2009. The rest of America has basically been ignored minus a few housing programs to help lower mortgage payments.

    That's what's been so frustrating about this whole crisis and America is finally starting to get it. Just about ALL of the steps that have been taken by the government to help fix this crisis have involved throwing more and more money to the financial elites of this country. I mean, the examples are endless: TARP, AIG, Bank of America (BAC), Citi (C), Freddie (FRE), Fannie (FNM)....Need I say more?

  6. Looks like another brainstorm..
    Feb. 23 (Bloomberg) -- Verizon Communications Inc.’s Ivan Seidenberg and JPMorgan Chase & Co.’s Jamie Dimon are among more than a dozen chief executive officers invited to dinner tonight with President Barack Obama at the White House.

    Wonder if they'll talk about how harsh things are out there for them?

    Wall Street Bonuses Rise 17%
    New York's comptroller said Wall Street bonuses were up 17% to over $20 billion in 2009, the year taxpayers bailed out the financial sector after its meltdown.

  7. Maybe its time to distance yourself from these thieves..unless your part of their crew?

    Secret AIG Document Shows Goldman Sachs Minted Most Toxic CDOs

    Lawmakers said the former head of the New York Federal Reserve Bank had presided over a backdoor bailout of Wall Street firms and a coverup.

    Janet Tavakoli, founder of Tavakoli Structured Finance Inc., a Chicago-based consulting firm, says the New York Fed’s secrecy has helped hide who’s responsible for the worst of the disaster.

  8. Wow...look at the job the stimulus saved...

    NEW YORK (Fortune) -- After resigning as president and CEO of General Motors in December, Fritz Henderson might have gone into hiding or decided to sit out the harsh Michigan winter on a Florida beach.

    Fritz Henderson is back at GM, for $3,000 an hour

    Instead, here he is popping up again, this time as a consultant to GM on international operations at the very fancy fee of $59,090 a month for 20 hours of work a month. That works out to almost $3,000 an hour for a CEO who was ousted after just eight months on the job.

  9. So glad economy is improving?

    This was just announced today from San Francisco school district. They will lay off more than 900 employees in this district alone.

    California has 1039 public school districts. Most are in bad shape. The district I teach in started with a $75 mil budget, cut $8 mi last year, has to cut $5 mil this year, and is projecting another $5 mil in 2011. School districts trimmed off the fat last year, and now they are carving meat and potatoes. These cuts are not just going on at the K-12 levels. Our local junior college, and 4 year university, have cut summer school, laid of teachers, and raised rates substantially.

    I am sure other states are in this same situation. California has the potential to easily lose 100,000 jobs in k-12 alone by the end of June and teachers paychecks will stop coming in august.

    We also just heard in Santa Barbara and San Luis Obispo County, they will be massively cutting law enforcement positions, and shutting down youth correctional facilities.

    All of these social service jobs, are supposedly some of the most stable. Well not anymore.