Portland occupiers block foreclosure eviction

Another Portland Homeowner Stands Strong Against Modern Redlining

By Pete Shaw
Portland Occupier

July 28, 2012

Story and Photos by Pete Shaw

When the clock ticks past midnight into Saturday July 28th the Multnomah County Sheriff will be able to enforce an eviction notice issued by the Circuit Court of Multnomah County on the house of Annette Steele of 4022 NE 14th Avenue. But Steele, her family, her friends, and her neighbors are not planning on her going anywhere.

The Coming Derivatives Crisis That Could Destroy the Entire Global Financial System

By The Economic Collapse

Most people have no idea that Wall Street has become a gigantic financial casino.  The big Wall Street banks are making tens of billions of dollars a year in the derivatives market, and nobody in the financial community wants the party to end.

The word “derivatives” sounds complicated and technical, but understanding them is really not that hard.  A derivative is essentially a fancy way of saying that a bet has been made.  Originally, these bets were designed to hedge risk, but today the derivatives market has mushroomed into a mountain of speculation unlike anything the world has ever seen before.

‘Inside Job’ obscures ongoing regulator collusion in Wall Street fraud

By Jeff Gates
Arab News.com

Part 4 of 4

A popular documentary, Inside Job, captured kudos at the 2010 Academy Awards. Its hard-hitting analysis marked a milestone among filmmakers for shining light in the dark corners of Wall Street. Writer, producer and director Charles Ferguson provided a public service by exposing key perpetrators.

Laudable yet incomplete, Ferguson’s popular film left unaddressed the all-important “how.” The storyline left moviegoers with the impression that the film’s featured insiders operated virtually alone in perpetrating history’s greatest heist. In truth, the real “inside job” is far more sinister and remains ongoing.

No Room at the Inn – Not even a TARP

Michael Collins

What do you get when you cross Tim Geithner and Peter Peterson?

Barack Obama; who would rather help the big banks and balance the budget than offer a helping hand for struggling homeowners. (Image)

The president demonstrated new heights of indifference toward the people in his handling of the mortgage relief program made a part of the Trouble Asset Relief Program (TARP). Citizens paid the full share for TARP and were to get a modest proportion. That’s not the case. The November 2010 Congressional Budget Office Report on TARP was just issued. It showed that the funds for home mortgage assistance programs would be reduced from $50 billion to $12 billion, as reported in the Huffington Post.

Reading the details of the report, we find that the take back from homeowner relief through TARP funds is even more outrageous. The actual funds spent so far for homeowner relief is only $710 million.

Wall Street Beats Main Street Says Special IG for Tarp

By Michael Collins

The Special Inspector General for the Troubled Asset Relief Program (SIGTARP) Neil Barofsky just released his latest Quarterly report on TARP. He begins by asking the question, who has benefited from the TARP program? He makes a strong case that Wall Street is the main beneficiary, while Main Street has suffered under deteriorating conditions for commercial credit, home ownership, and employment conditions. (Image)

“By fulfilling the goal of avoiding a financial collapse there is no question that the dramatic steps … were a success for Wall Street. … Main Street …reaped significant benefit from the prevention of a complete collapse of the financial industry. …Main Street has largely suffered alone, however, in these areas in which TARP has fallen short of its other goals.” (p. 5)

The Last of the Mavericks

By Puddy Dunne
Coalition of the Obvious

It is rare for me to even acknowledge Congress as anything but elected lobbyists and globalists, but I have to mention one.

Stars and Stripes 4 sale was my site for the Clinton-Bush gang and I spent years following and cataloguing the Congressional shills. One of the few I had little ammunition against was Russ Feingold (WI).

NY Fed AIG Coverup – “criminal or civil charges possible” SIGTARP

By Michael Collins

Prosecuting those who caused the financial crisis would lead to the next logical step: confiscating all the ill gotten gains and returning them to the people. The market went down and the people lost a bundle. The market is now back up and those losses are still in place. But guess who made a bundle on the fluctuation? This must be corrected.