Karl Denninger does what the Treasonous Meyer/Graham Washington Post & Sulzberger NY Times no longer do: Catch elected officials being DICTATORS, POCKETING legislation that the VAST MAJORITY OF AMERICANS want & Need (in this case, MAKING BANKS PROVE they have THE NOTE to a home mortgage, BEFORE they FORECLOSE)

"I WAS NOT  GOING TO HEAR THE BILL as it came over from the senate" -  Ms. McClain, AZ House of Representatives Committee Chair,   SLAMMING A BILL, WITHOUT A VOTE by her fellow Representatives, that had been PASSED by the Senate, that would simply FORCE BANKS to PROVE THEY HOLD the MORTGAGE NOTE,  BEFORE they EVICT homeowners from their homes.   
    While we don't agree with Mr. Denninger on many of his economic positions - in particular, we feel that UNIONS  MUST have the right to demand COLLECTIVE BARGAINING in negotiating wage & benefits contracts;  and, further, we feel that the era of GREAT AMERICAN ECONOMIC GROWTH post WWII  differed from all previous (boom-bust)  eras, in having HIGH, UNION-SCALE WAGES
 (in concert, actually, with MASSIVE GOVERNMENT SPENDING in the Cold War nuclear & conventional weapons arsenals, and the largest-construction-project-in-world-history U.S. interstate highway system, which was an is the BEDROCK, the life-sustaining skeletal structure  of what "free market capitalism" economy we still have) -  which WELL PAID WORKING Americans FUELED the great American CONSUMER "free market"  economy which "won the Cold War"   -
-  in this blog, Mr. Denninger takes up where America's treacherous (if not blatantly treasonous)  "major media" leaves off:  POINTING OUT the SPECIFICS of how  GOVERNMENT OFFICIALS (both elected officials  & unelected bureaucrats) RAM POLICIES, PROGRAMS, and "bailouts" down the public's throats,  despite vast public desire for more open, equitable, and (small-d)  democratic alternatives - in this case,  merely a law clarifying that BANKS MUST ABIDE BY EXISITING LAWS,  and NOT FORECLOSE on a home when they DO NOT HOLD the legal mortgage note!
 
The Post and Times..... CNN, Newsweek, TIME, Fox "news," and America's other "major media" outlets  are COLLUDING and CONSPIRING with VAST, American economy gutting  FINANCIAL CRIMES:  they  IGNORE the THOUSANDS of examples of BOUGHT & BRIBED (by bankers & financial hoodlums) legislators USING THEIR POWERS to SHAFT MILLIONS of American citizens, consumers & taxpayers...

Arizona State Rep Ms. McLain (R-3rd): A Putrid Viper
  by Karl Denninger,  founder/publisher,  (The) MarketTicker.org
   April 24,  2011
http://market-ticker.org/akcs-www?blog=Market-Ticker&page=2

Here's the architect of gutting SB1259,  which would have required that banks coming to foreclose prove they actually held the debt.
The original bill is here:
SB 1259 - Introduced Version - Arizona State Legislature via MyGov365.com
It was gutted and replaced with a completely unrelated bill  [by Ms. McClain] after passing the Senate 28-2.
This is how you got screwed Arizona - through an in-your-face act of Monarchy by one Representative McLain, who arrogated the entirety of the Democratic process even within the committee she chairs to herself, and abused that authority to financially **** every Arizona homeowner who is facing foreclosure. Vote? What's a Vote? We don't need any stinking votes! McLain is the chair and she's arrogated herself King!


You're simply not going to believe the audacity displayed by this bag of venomous pus.

Only one question remains for Arizona residents: Are you going to sit for being screwed raw by this putrid viper or will you stand and do something about it?

America's TREASONOUS 'Elites' - Whitewash Financial Crimes, and Environmental atrocities, to MAXIMIZE their 'economic hit man' EXTORTION of the US Economy & Taxpayers for short-term profits...

 At behest of the treasonous "elites" invested in America's nuclear energy companies, America's "mainstream" corporate media WHITEWASH  the DEADLY ATTACK,  on ALL Americans, of RADIOACTIVE PLUTONIUM, URANIUM, Cessium 137,  and other deadly elements from Japan's Fukushima nuclear meltdowns POURING into the Pacific Ocean, and into the atmosphere - deadly radioactive particles and fall out that are, as we speak,   poisoning the food supply worldwide, whether contaminating  grain fields in food baskets worldwide, or contaminating the world's ocean food chain.

In our previous post, we briefly discussed how America's TREASONOUS  New York, DC, U. Chicago, and other well connected elites (what author Janine Wedell calls the   "Shadow Elite: How the World's New Power Brokers Undermine Democracy, Government, and the Free Market")  have used the power of government to reward themselves with billions upon trillions of dollars  of "bailouts," "liquidity injections," and other forms of  near 'free' money (zero interest or very low interest Fed fiat dollars), and how they have BRIBED politicians and officials with "campaign donor" checks  to create an APARTHEID system of government, with one standard of  'justice' for the Lloyd Blankfeins, Hank Paulsons, and Bob Rubins (all three current or past chairmen of Goldman Sachs co.)  - and another, far harsher standard of 'justice' for ordinary Americans, even well known celebrities like Martha Stewart, who was railroaded into prison by the Bush-Cheney 'Justice Department'  and SEC for allegedly  'dumping' a lousy $55,000 of ImClone stock Ms. Stewart had every right to sell**...  at a time when the Bush-Cheney 'Justice' Department & SEC were  ignoring the know well known financial crimes of Enron, World-Com,  and vast war contracts fraud by Bechtel, Halliburton, KBR, and other Iraq war profiteers.
 ** note: Ms.Stewart was not convicted of either "dumping" or "insider trading," she was convicted on the show-trail charge of "LYING TO PROSECUTORS."  By comparison,   Vice President Cheney's Chief of Staff,   uber "Israel uber alles" Neo-Con I. Lewis 'Scooter' Libby, was convicted of the far more serious crimes of PERJURY and OBSTRUCTION of JUSTICE -  lying under oath during  criminal prosections  regarding an issue of vital national security (the intentional 'outing' of an undercover CIA operation by Libby and Vice President Cheney)  and never saw a day of jail time, much less prison sentence.)  

      Today,  we sadly point out  the elites' war on the American economy,  in the name of their selfish  citizen, consumer, and taxpayer extorted "profits," has spread to a global war on all humans (including themselves and their own families), with the RADIOACTIVE CONTAMINATION of the world's ENTIRE food supply,  both land-based grain, fruit, and animal production,  and the similar radioactive contamination of the entire global oceans and seas chain of marine sea life. 

  Dr. Leuren Moret discusses the nuclear contamination of world food supplies from Fukushima nuclear reactors exploding, and tons of nuclear fuel in 3 different reactors burning and possibly "melting down" to a critical mass of burning, melting globs  of  nuclear fuel sustaining runaway heat & energy producing nuclear reactions.   (excerpts start at about 51 minutes) -

 "That tongue  [animated weather map of radiation from Fukushima shortly after the explosion] went red, very high levels of nuclear radiation.
      "The food baskets are now completely contaminated   in western Canada, the western United States, and western Mexico. And actually Hawaii is also very contaminated, and it's because they have the highest rainfall.  When the Atomic Energy Commission was monitoring radioactive fallout during nuclear testing, they found that Hawaii had the highest levels of fallout, and its because of the high rain fall." 
 "eventually, because of all the (weather) processes in the dynamic troposphere, it  [radioactive fallout & contamination]  goes everywhere.
   This is [radioactive] Cessium 137 March 23, 24, 25th...  very high levels of radiation reached Hawaii  [from very shortly after the reactors at Fukushima blowing up and spewing gases and particles into the atmosphere]

 The dates excerpted in our above video transcript highlights, are from back in late March, shortly after the Fukushima reactors blew up or melted down.   Since then, the reactors have been  continuing to pour radioactive poisons and fallout into the eco system, both atmosphere and oceans - there is no "containment cap" at Fukushima - no cement, no steel, no enclosure structure  as at Chernobyl - just the continued use of sea-water to "cool" the fires and heat from the core meltdowns, water with evaporates as steam into the atmosphere, or flows directly into the oceans.. and global marine food supply.
 (btw,  the steel & concrete masoleum built at  Chernobyl to entomb the single reactor's melt-down, cost Russia $18 billion rubles, at a time when the ruble traded to the dollar at near one-to-one, in 1980s U.S. dollar valuations.   It was this catostrophic environmental, economic, and nuclear nightmare that "broke" the back of the Soviet economic system.)

 Highly radioactive water pouring out of Fukushima exploded reactors
 pours into the Pacific Ocean,  contaminating millions upon millions
 upon millions of gallons of ocean waters... and the world's entire food supply.

Former New York Gov. Eliot Sptizer Confirms our previous post: President Obama is COMPLICIT in the CRIMES of Goldman Sachs, his Attorney General, Eric Holder, and SEC Chairwoman, Mary Schapiro, are DERELICT IN THEIR DUTIES to ENFORCE U.S. laws, and to PROTECT American Consumers from devastating Financial FRAUD & Economy gutting Financial CRIMES....

 

   As we have said before,  Mr. Obama's SUBSERVIENCE to the "Of, by, and for Goddamn-Sachs" officials he has placed in his White House,  and their CRIMINAL SABOTAGE DESTRUCTION of the American economy is beyond caricature, it is beyond farce, it is now GROTESQUE and MALIGNANT.
    At one time the ZEALOUS prosecutors at the SEC, the FBI, and the Department of 'Justice'    ___RAILROADED__ Martha Stewart into prison, for "dumping" a lousy $55,000 of ImClone stock Ms. Stewart had  every right to sell, at any time, on any 'tip,' from anyone;  because she had no fiduciary connection with ImClone.
   Today, the SEC, FBI, and Department of Justice DAILY IGNORE reports of FRAUD, INSIDER TRADING, and PERJURY before Congress, by senior executives and 'bankers' at Goldman Sachs and other large 'banks' and financial funds,   that are orders of magnitude more serious than what Ms. Stewart was accused or convicted of.
   PRESIDENT OBAMA, YOU ARE RUNNING A RACIST, BIGOTED,  TREACHEROUS, if not TREASONOUS  APARTHEID presidency - one standard of 'justice' for the high-and-mighty 'bankers' who donate to you political campaigns,  even as they HARM thousands of  Americans through FRAUD and abuse of taxpayer 'bailout' funds (much less gut the entire economy through trillions of "Quantitative Easings" 'free money for failed, bailed out banksters' by Bernanke & Geithner's Fed)   and another, far harsher and more grotesque level of official government prosecution for ordinary Americans, even well known celebrities like Ms. Stewart,  including the nightmare of IRS  CONFISCATION of savings accounts, money funds, and assets  in many case wrongful reasons, as the IRS tries to balance the huge "BAILOUTS"  budget deficits on the back of working class Americans - the Obama administration's CONTINUATION of Bush administration "TAX CUTS FOR RICH, IN TIME OF WAR" policies.    

Spitzer: If  Attorney General Eric Holder Does Not Sue Goldman Sachs, He Should Resign
 ZeroHedge report on Andreson Cooper's CNN interview with former New York Gov. Eliot Spitzer,  17 April 2001
http://www.zerohedge.com/article/spitzer-if-attorney-general-does-not-sue-goldman-sachs-he-should-resign
   On Friday's Andreson Cooper, Matt Taibbi and Eliot Spitzer presented their views on the fact that several years into the biggest ponzi collapse in Wall Street history, stabilized only by the Fed's pledging of trillions in taxpayer capital and the Treasury issuing like amount in debt to prevent the insolvency of Wall Street's corner offices, nobody has still gone to jail. It was actually an oddly open and forthright show. Some of the notable soundbites from the transcript:
   "Eliot, do you believe Goldman broke the law and lied? - Yes, I do. And I know people are going to say how can you say that as a lawyer?
 I have read this report. It confirms our worst fears about double dealing, lying. Goldman Sachs has zero, none, nada credibility in my book"....."Tim Geithner, treasury secretary, apparently reported in today's "New York Times" was calling people saying don't bring cases, it will unsettle the markets, so they let these guys go free. Meanwhile, he signed off on $12.9 billion to Goldman to cover a bad bet they made."....."
 "Goldman Sachs was the number one private campaign contributor to Barack Obama's presidential election campaign. It's one of the single biggest campaign contributors to both parties in Congress"..."Anderson, before I sued, went after Merrill Lynch, which was the first case we filed many years back, I was told by their lawyer -- this is a direct quote -- "Be careful, we have powerful friends"

 [ZeroHedge] and the kicker: "Do you think the Justice Department will prosecute?
Spitzer: If they don't, shame on them. If they don't, the Attorney General should resign if he can't bring this case."
   ...and when Holder resigns, he can go work as Goldman's newest General Counsel, the end. Hopefully, unlike last time people got angry, only to promptly lose interest in Wall Street's crimes, this time it actually leads to something.

Senator Calls for SEC & Justice Department INVESTIGATIONS into Goldman Sachs FRAUD, and possible PERJURY in testimony before Congress. WHERE IS PRESIDENT OBAMA, why are his DoJ & SEC _AWOL_ - absent, derelict in their duties?!

President Obama, YOUR ADMINISTRATION, is  SYNONYMOUS, with Goldman Sachs & JP Morgan FRAUD.... 
  Your Securities & Exchange Chair,  Mary Schapiro, should be IMPEACHED, if not INDICTED, for  EXTREME CORRUPTION,   Dereliction of Duty to uphold her oath of office to "defend the laws of the United States" regarding America's CRITICAL financial markets and trade exchanges.   Attorney General Eric Holder, and (former Goldman Sachs partner) CFTC Chairman Gary Gensler - are no better.

___ A Senate Committee finds that Goldman Sachs LIED to Clients - AND CONGRESS whle under oath  - about betting AGAINST 'securities' it sold to its clients, which is FRAUDULENTLY touted as "grade-A" - and the 'Justice' Department PRETENDS NOT TO NOTICE. ___

  WHERE IS OBAMA's 'Justice' Department and SEC?

 They are perpetrating FRAUD on the American people - getting paid to NOT do their jobs... fraud WORSE than Golddamn-Sachs  perpetrated on its clients!

Goldman Sachs Misled Congress [LIED TO CONGRESS] After Duping Clients,
Senator Levin Says 
Bloomberg,  Wednesday, April 13, 2011
http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/04/13/bloomberg1376-LJM1ZZ1A1I4H01-0493A7DJR7692BN3LRLEGM0701.DTL
April 14 (Bloomberg) -- Goldman Sachs Group Inc. misled clients and Congress about the firm's bets on securities tied to the housing market, the chairman of the U.S. Senate panel that investigated the causes of the financial crisis said.
Senator Carl Levin, releasing the findings of a two-year inquiry yesterday, said he wants the Justice Department and the Securities and Exchange Commission to examine whether Goldman Sachs violated the law by misleading clients who bought the complex securities known as collateralized debt obligations without knowing the firm would benefit if they fell in value.
The Michigan Democrat also said federal prosecutors should review whether to bring perjury charges against Goldman Sachs Chief Executive Officer Lloyd Blankfein and other current and former employees who testified in Congress last year. Levin said they denied under oath that Goldman Sachs took a financial position against the mortgage market solely for its own profit, statements the senator said were untrue....

The above new Senate Committee bombshell, follows a virtual TSUNAMI of SIMILAR stories of economy-gutting levels of FRAUD in America's critical financial markets, including this January 2011 story, 
E-mails Suggest Bear Stearns Cheated Clients Out of Billions
By financial reporter  Teri Buhl of  The Atlantic magazine, which found that a
"Lawsuit alleges the bank took extreme measures to defraud investors, and now JPMorgan may be on the hook"


 ...again, as always, the most important factor is that the ADMINISTRATION of President Barack Obama PRETENDS NOT TO NOTICE  TITANIC FRAUD in America's critical financial markets -   Mr. Obama's subservience to his bankers is beyond caricature, it is purely grotesque and malignant.

High-Mid level Radioactive Cessium 137 plumes from Japan's nuclear reactor meltdowns, now drifting across Pacific, down Alaska, and over mainland United States..

EURAD models (computer calculated animations):   LARGE PLUMES of  high-mid  level Cessiam 137  now floating from Japan (Fukushima nuclear reactor explosions - across the Pacific, down  Alaska, and down to the mainland United States  over the past week... http://youtu.be/QvMOvMK_jQA 
  
These EURAD computer weather / radioactive cessium drift models dove-tail with the University of Maryland's similar  weather models,  showing  HIGH levels of radioactive Cessium plumes coming off the coast of Japan and drifting east across the Pacific Ocean (towards Hawaii, Alaska, and North America)  from the Fukushima  nuclear reactor meltdowns, which plume dispersion models also dove-tail with the NOAA's  more typical current cloud formation & jetstream  animations  (similar to news hour weather radar animations, but on a global scale). 

Obama the STUPID, SELLOUT PUNK: American Household Wealth DOWN 23% in TWO YEARS - as HE gives TRILLIONS of TAXPAYER extorted "bailouts" dollars to his Wall St. bankster/scammer pals....

   Obama the STUPID, SELLOUT PUNK:  American Household Wealth DOWN 23% in TWO YEARS - as HE gives TRILLIONS of TAXPAYER extorted "bailouts" dollars to his Wall St. bankster/scammer pals....  Is Mr. Obama REALLY THIS STUPID? 
  Can he not see that  for the TWO YEARS of HIS presidency, he has been Bush W. on STEROIDS?   
  Is Barack Obama TOO STUPID  to realize that putting Bush's FAILED economic hacks - Ben Bernanke & little hatchet man Timmy Geithner -  BACK in charge of the entire U.S.  economy (with Obama's promotion of Geithner from NY Fed President to TREASURY SECRETARY, and Obama's renomination of Bush's Fed Chairman nominee, Ben Bernanke) was not "change"... but was MORE OF THE SAME economic larceny as under Bush & Cheney, but  with his own (Obama's) kiss of approval??!

  Is Obama TOO STUPID to notice that he has presided over the TRANSFER of BILLIONS upon TRILLIONS of dollars of household wealth owned by American families, to the  financial swindlers, treasury looters, economy wreckers,  social welfare sucking 'bailout' queens & robber barons on Wall Street?   
 via  TRILLIONS of dollars of NO OVERSIGHT "bailouts," "liquidity injections," and now Quantitative Easings 1, 2, and, soon enough, 3? 

Fed: Household wealth down 23% in two years
Charles Riley, staff reporter, On Thursday March 24, 2011

http://finance.yahoo.com/news/Fed-Household-wealth-down-23-cnnm-3859870801.html  
The average American family's household net worth declined 23% between 2007 and 2009, the Federal Reserve said Thursday.
A rare survey of U.S. households, first performed in 2007 but repeated in 2009 in order to gauge the effects of the recession, reveals the median net worth of households fell from $125,000 in 2007 to $96,000 in 2009.
Titled "Surveying the Aftermath of the Storm," the report offers a broad look at how the financial crisis impacted individual households.
It is widely known that the 2008 financial crisis resulted in the vaporization of trillions of dollars in household wealth. But Federal Reserve officials said Thursday the new report offers a look at exactly how hard the recession hit families  [IS, STILL NOW,  HITTING families],  and how they reacted. (cont'd)