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?