I hate to go OT in the first comment, but somebody beat me to it. They built a website that generates Palinese answers:

http://interviewpalin.com/

Angry Daddy: “Mr. Boehner, if you don’t stop that whining, we’ll really give you something to cry about.”

Aside- someone did an analysis and noted that 30 of the 38 congresscritters in the closest races, voted against. And how the votes were predictable based upon the closeness of the races.

Also, “among 26 congressmen NOT running for re-election (almost all of whom are Republicans), 23 voted in favor of the bill, as opposed to 2 against and one abstaining.”

Let’s see - Grumpy, Sleepy, Nasty, Boney, Bashful, Doc, Dopey, Grumpy, Sleepy, Sneezy, Awful, Baldy, Biggy, Burpy, Busy, Chesty, Cranky, Daffy, Dippy, Dirty, Dizzy, Doleful, Flabby, Gabby, Gloomy, Goopy, Hoppy, Hotsy, Lazy, Puffy, Sappy, Sniffy, Scrappy, Silly, Strutty, Stuffy, Sleazy, Tearful, Thrifty, Tipsy, Titsy, Tubby, Weepy, Wistful, and Woeful.

It could of been any of these Republican dwarfs!!

whatever their reasons were, this bill deserved to die.

what has me really pissed off is how bad the bill was and how many dems voted for it.

Totally agree…the bill died not because the dems stood up…but because the republicans had a hissy fit.

I am so glad that Barney has decided to be nice to them, because I just hate it when the dems are mean.

I am looking forward to Joe Biden spending the whole debate saying,

“I live next to a restaurant, so I am a really good cook.”

“I live near a bank, so I understand the financial system.”

“I walk by a hospital on my way to work, so I think I can do heart surgery.”

“I live near a record store, so I really know how to sing.”

Robert Reich on MSNBC
- psychotherapy for the market
- we needed something big
- John McCain has some ’splainin to do
- You could not get Democrats alone to take responsibility for this highly unpopular bill, so we needed Republicans.
- This is not Armageddon; we’ll get another bill.

Barney?
I’m partial.
I’ve voted for him because he is exactly who you just saw.
He’s worth it.
Hope America will appreciate him.

This whole thing was a Rovian set-up. He was positive he could compel Dems to pass this thing and take the full wrath for doing so. Instead that plan backfired when a few got cold feet.

$1.2 trillion went to money heaven today in the US markets alone.

I hope you’re all stocking up on cash and food.

You have to understand, we’ve been enjoying this:

“It’s the longest Hail Mary pass in the history of either football or Marys,” the Newton Democrat said, courtesy of First Read

for years.

God, I don’t know how much more I can go with this on the personal/political level.

Barney Frank should be the Minister of Cutting Through Bullshit in an Obama administration.

EW, you and I have a big chunk of them in our backyard — all Nay votes:

Peter Hoekstra (R-02)
Joe Knollenberg (R-09)
Thaddeus McCotter (R-11)
Candace Miller (R-10)
Mike Rogers (R-08)
Tim Walberg (R-07)

The worst of this lot? THAD MCCOTTER.

This slacker didn’t attend a single Financial Services subcommittee meeting during the last 2 years — that includes the subcommittee responsible for oversight on GSE’s (that’s Fannie Mae and Freddie Mac).

But he can afford to whine and pule and posture now.

Ten posts by emptywheel in one day and counting. Is this part of the New Cruelty, where I get punished for leaving for a while to go into the office to help a few clients? I’m asking, not whining.

You may be correct.
Nevertheless, what I find appalling is the stab-in-the-back betrayal by the very GOP members who helped get us into this mess.

The COP is hiding behind Pelosi’s skirts and then blaming her, Harry Reid, Chris Dodd, and Barney Frank, et al for their GOP cowardice and treachery.
Surreal.

So does this count as another aircraft crash for McCain?

As in a 777 (point Dow) crash?

Which is the real Palin and which is the Markov chain imitator:

Why should the US elect Senator McCain?
Palin: John McCain had pushed for, more troops? A counterinsurgency strategy? And he also showed great appreciation for what America needs today. Americans are just getting sick and tired of that self-dealing and kind of grab it all and pretend like they have all options out there on Wall Street, affecting Main Street.

People have questioned your readiness since that interview. And I’m curious to hear your reaction
Palin: Well, not only am I ready but willing and able to serve as Vice President with Sen. McCain if Americans so bless us and privilege us with the opportunity of serving them, ready with my executive experience as a city mayor and manager, as a governor, as a commissioner, a regulator of oil and gas.

“Our national strength…” Listen here.

We ought to be hitting all like-lazy Congressman…

‘A regulator of oil and gas’????

She has no clue at all. Just utterly clueless.

Gotta say that John Harbaugh is clearly the brother of Jim. Jeebus. Almost could be twins.

This is Barney Frank’s bill. This is what he negotiated with Paulson. At least some members of Congress responded to their constituents. Barney Frank is fully bought and paid by Wall Street and the GSEs. He talks a good game about being progressive but all he gets are fig leaves while giving away the store.

Take this Bailout or Wall Street Welfare bill. Treasury holds a conference call to inform Wall Street what’s in the bill like they are an arm of Wall Street. They say that the installment plan is all bogus and they can draw on the full amount right away. Then they say that the CEO compensation restrictions is all a farce. No existing executive contracts and golden parachutes are affected. Oversight - just a bunch of bullshit - since the oversight board is essentially Paulson and Bernanke.

Now take a look at the conflict of interest. Paulson was the CEO of Goldman Sachs. He now gets hundreds of billions to giveaway to his Wall Street buddies and of course his previous employer.

And then there’s Nancy Pelosi the most ineffective Democratic speaker. She is a Dem only in name since her agenda is Bush’s neocon agenda. She blocked any impeachment effort. She did the kabuki but nothing else on any investigation of the administration. She gave Mr. 20% FISA and his get out of jail free card. Now she shills for Wall Street. Can’t we get some better Dems instead of these corporatist tools???

Sure. Just successfully primary them, and them support your new candidate in the general. Good luck.

WTF! Steny Hoyer quotes Spiro T. Agnew in advocating the bailout. Its getting deep.

Old Topic - factcheck.org looks at republican caging in MI OH LINK

Maybe OT, but in the event that massaccio comes around, here’s a fine interview put up tonight at CNN — Chinese PM Wen Jaibao interviewed by CNN’s Fareed Zakaria.
http://www.cnn.com/video/#/vid.....ailout.cnn

Given the amount of ‘US paper’ the Chinese evidently hold,
PM Jiabao’s gracious, measured speaking style seems more ’statesmanlike’ — and relevant — to our current political distrust than the exchange of insults we’ve seen stateside from frustrated McCain, the shopworn Bush, the belligerent Cheney, and the lamentable Boehner these past few weeks.

Quite a contrast, IMHO.

Unfortunately, my “marching orders” limit my scope to those in our backyard, and none of the rest of the congressional delegation in that range had key subcommittee seats.

This one character was particularly noisome, too, think nearly everybody else on the subcommittees with McCotter actually made a point of actively participating, although perhaps not at 100% level.

McCotter’s lack of participation in oversight took real effort. Truly singular. Imagine my ire seeing him on video in the Rec’d Diary list at DKos, ranting about the bailout…he put more energy in that one speech than he did in two years.

(Probably just a coincidence that he put on that show — and a nifty letter of protest complete with his own plan — AFTER the Michigan Messenger article, hmm?)

All that said, there was a 17-SEP letter that Thad signed along with 30 other GOP members of Congress, expressing displeasure with the bailout. When I saw Bill Sali’s and John Doolittle’s signatures on it, my first thought was that the signatories included members who were desperate to rehab their image and using this letter as one method to do so. All of them members of the Republican Study Group…

And I wonder if this is the list of candidates whose records on oversight should be reviewed. Have not had time to look to see if all of these signatories voted against the bailout.

Oh yes, I’d start looking more closely at that group. Can’t make out all the signatures, but I see folks on the House Financial Services Committee who were signatories:

Jeb Hensarling
Michelle Bachmann
Geoff Davis
Tom Feeney
Scott Garrett

Bachmann was on at least one of the subcommittees with McCotter, don’t know about the rest without looking further.

At a glance it looks like the same 31 signatories voted NO as a block against the bailout.

we’re usin the wrong barney here, folks

we need a barney that is non-threatening barney

(I know, Barney Frank is threatening, WTF ???, but you gotta consider that Nancy Pelosi scares the repuglitards to tears, and I also heard a repuglitard talking about how mean an scary Joe Biden is; seriously, Joe Biden is Mean, according to repuglitards)

we need a barney that appeals TO CHILDREN

so ladies and gentlemen (an you too bmaz), I give you our new financial advisor to george bush

BARNEY THE DINOSAUR

I love you

you love me

we’re as happy as can be

what, they’re afraid of Barney the dinosaur ???

what do you mean he’s gay, he’s a fucking dinosaur

how about a fairy then, like tinkerbell or something

no, wait, bad idea

how about the teletubbies ???

no

they’re gay too ???

maybe some penguins

what do you mean “Gay Penguins”, are you outta your gourd, man ???

really, gay penguins, oh well, different strokes and all …

well, I’m stumped, is there ANYTHING the repuglitards are NOT afraid of ???

anybody ???

/ bad jon stewart impersonation

Me, I say we start asking John Boehner to name names–to list the 12 Republicans who put their poor little feelings ahead of the economy.

that was a bad bill and I am proud some republicans finally showed some balls, if for the wrong reason, I really don’t care, this bill sucked

we need NOT give paulson more of our money, he is the very person responsible for the industry stealing from us in the firs place, that’s why bush had him take over

sorry, this bill needs to be changed, the very best thing the democrats can do is kick the bill down the road, give this theif another 100 billion, tell him “we’re watching” and cross our fingers this wasn’t a planned shock doctrine

there will be new president, he will be voted into office in about a month, he will then take office a few months after that

BUSH CAN NOT BE THE MAN RESPONSIBLE FOR THE BILL THAT RECOVERS THIS ECONOMY

even if mccain is the person who wins, the next president HAS to own the recovery

look at it this way, if the bush bill passes then mccain gets a pass if it fails, if mccain has to be the one that gets the bill passed he’s going to be more likley the bill works

I am really glad this bill failed, let’s not take the people who helped it fail to task, even if they did it for the wrong reasons

I feel that your characterization of Barney Frank is over-the-top.
He was responding to a crisis in a practical way.

“Frank surprised many of those critics with his willingness to craft bipartisan compromise measures. He won plaudits earlier this year for reaching out to Republicans in putting together a sweeping bipartisan housing rescue deal to ease the mortgage crisis and help 400,000 families avoid losing their homes.
Frank’s liberal bent has been tempered by pragmatism. He needs bipartisan support to pass legislation in the narrowly divided Congress.”

Democracy can be painful.

A link here might help.

Yves Smith’s summary of Monday’s SIFMA (Securities Industry and Financial Markets Association) conference call with Treasury, and a bittorrent audio recording.

From Yves Smith:

1. The tranching is a mere formality, and the Treasury boys as much as said so. They could take the $700 billion max as soon as the bill has passed,

2. However, they do not plan any action immediately, will wait a couple of weeks. They want to focus their efforts on stronger companies but also made noise about protecting the financial system. This, by the way, is the Japanese convoy system all over.

3. There seemed to be a lot of tap dancing about what price they will pay for assets and no straight answer about their policy on warrants. They did say that if the amount sold was greater than $100 million, they would take warrants. FYI, the current draft allows them to pay up to the price at which the assets were initially booked (yikes) . I wonder if this is obfuscation, if they have an idea of what the plan to do but will not admit it in any public forum.

4. As the person who listened to the call stressed, DealBreaker wasn’t clear on the bifurcated process. If you come to the Treasury and you are in trouble, you get reamed. Bear/AIG style treatment, execs probably fired. But if you participate on a voluntary basis, the intent is to make it very user friendly. That is consistent with Paulson’s position during the negotiations.

5. The exec comp provisions sound like a joke, They DO NOT affect existing contracts, they affect only contracts entered into during the two years of the authority of this program and then affect only golden parachutes. More detail on that point, but I don’t need more detail to get the drift of the gist.

My Bailout Plan is up at Oxdown.

Until I stopped hearing about how it’s the poor people who caused this problem and start hearing about the illegal behaviors behind these foreclosures…my opinion is that we still are not dealing with the truth of the problem.

There are thousands of stories like mine and like this one. We are not the minority. This is how they operated. Brazenly illegal behaviors and no real means to regulate them. Unless you had the money or credit to get out of your loan you were stuck because of the back log of complaints, the huge legal teams of these companies, colluding Attorney Generals (yes in the mortgage scams A.G’s were looking the other way-hard to imagine, huh?)

Read these stories if you don’t believe me. And there are literally thousands more like this one. The truth is still not out. (hard to imagine that, isn’t it?)

http://www.complaintsboard.com.....60703.html

http://www.complaintsboard.com.....62354.html

http://www.ripoffreport.com/re.....111807.htm

http://homecomings-financial-m.....5865.html.

Please understand the scope of this problem. People deserve their homes back. Reparations are required where these companies violated the laws.

The truth is still untold.

Rep Cantor whined the loudest about Rep Pelosi calling the Republicans out on deregulation and the 12 years that the Republicans controlled congress.

This morning on Washington Journal someone described Cantor as a “rising star” in the Republican party. If Cantor is the best that the Republicans have to offer they are in deep deep trouble. Rep. Cantor is a coward and a weasel. He runs from the Republicans accepting any responsibility for the economic mess this country is in. He runs from the Bush disastrous policies the last six years and the Republicans being more than willing to rubber stamp those policies.

Rep. Cantor really reminds me of Eddie Haskell on Leave it to Beaver
http://www.youtube.com/watch?v.....re=related

Beavers father tells it like it should be
http://www.youtube.com/watch?v.....re=related

Rahm and Barney. What a crack team that is.

Is there anything like a Better Business Bureau which tracks lenders in various regions? How does a person know which lenders to run away from?

And, of course, why isn’t action against the bad ones being taken?

Hang tight, we are working as hard as we can on this situation. My site has reporting in progress that documents what you’ve described, what those forums describe, AND WORSE.

Wait until this shoe drops. It makes this entire bailout look like the extortion and fraud that it is.

The answers to your questions are complicated. I have had lots of folks give me well meaning advice that was useless in this market. The better business bureau had no complaints on my lender in 2001 when I took out the loan because I checked. Today the complaints are numerous. I would say if you just google the name of a lender with the word fraud you will know in a quick moment whether their have been complaints.

As to why there was little help? I don’t really understand it. I went to at least 15 or more lawyers in my town. One big problem is that these companies are huge and have huge paid legal teams fighting small town lawyers. They win a lot of their cases because of the loop holes. The biggest loop holes pertain to the fees. (that according to my cooperate lawyer who still isn’t sure she wants the case because they are waiting to see what happens). These cases are complicated because the servicers and lenders are often out of state. The Attorney generals in some states have colluded with these lenders and only slapped their hands when complaints were filed. Filing complaints takes so much time that most folks have lost their homes by the time anything can be done. There is no automatic freeze given when you file a complaint. By the time you get your answer, your foreclosure could be over with.

Judges in my state anyway have no jurisdiction over the fees. My bankruptcy judge told them to remove legal fees and miscellaneous fees when they hauled me into court for non payment. It turned out that I had made every payment. The judge was furious. They did this to me twice. In each case they tried to increase my pay off with these fees. THe judge said no. They did it anyway. I am now backwards on my chapter 13 without ever missing a payment. Then when the bankruptcy is over they will foreclose. There are very few mechanisms to fight these fees. And time and again, this is the one part of these “plans” that republicans fight. Barney Frank has repeatedly asked that the judges in bankruptcy cases be given the power to regulate the fees. Time and again this is removed from the plans.

I still don’t think that people understand the extent and scope of this corruption and how difficult it is to fight them in court. It’s not as simple as it should be.

Not good. About the best argument, potentially, I have heard for a strong governmental presence in the industry. (”Industry”!! Don’t make me laugh! These vultures don’t MAKE a d**ned thing. You want “industry”, move to China!)

Thank you so much for writing about this, wavpeac.
It is amazing how one personal story illuminates the disaster.

In case anybody’s still on this thread … to clarify: my parenthetical in #39 was mocking my own use of the word ‘industry’. Wasn’t directed at anybody else.

I think you need to find enough other people with similar circumstances to start a class action suit, based on a discussion I had with a lawyer. Can you query people at the different boards you’ve been reading and find enough people who share the same “foreclosure specialist” or mortgagor?

There is a class action lawsuit and I have given them my info. They are going at for the fee violations. This fits my scenario perfectly.

But I have been part of two of these and they both got thrown out on technical reason I didn’t understand.