More Endorsements
Posted: October 25, 2012 Filed under: 2012 elections, 2012 presidential campaign | Tags: endorsements, polls 80 CommentsThe last legs of presidential campaigns are filled with major endorsements and last minute polls. The WAPO editorial board and former Bush SOS
General Colin Powell have both endorsed the president.
Powell criticized Romney’s foreign policy as inconsistent and questioned the former Massachusetts governor’s ability to address the deficit and looming defense cuts.
“I’m not quite sure which Governor Romney we’d be getting with respect to foreign policy,” Powell said, calling Romney’s foreign policy “a moving target.”
As for the U.S. budget, he added: “It’s essentially, let’s cut taxes and compensate for that with other things, but that compensation does not cover all the cuts intended or the expenses associated with defense.”
Powell has been critical of Romney’s foreign policy advisers and has taken issue with the former business executive’s stance on countries such asRussia.
A moderate Republican, Powell served under President George W. Bush. Some of Romney’s advisers are more conservative veterans of the Bush administration.
“There’s some very, very strong neo-conservative views that are presented by the governor that I have some trouble with,” Powell said on CBS.
WAPO’s endorsement and the Powell endorsement were really no surprise.
We come to that judgment with eyes open to the disappointments of Mr. Obama’s first term. He did not end, as he promised he would, “our chronic avoidance of tough decisions” on fiscal matters. But Mr. Obama is committed to the only approach that can succeed: a balance of entitlement reform and revenue increases. Mr. Romney, by contrast, has embraced his party’s reality-defying ideology that taxes can always go down but may never go up. Along that road lies a future in which interest payments crowd out everything else a government should do, from defending the nation to caring for its poor and sick to investing in its children. Mr. Romney’s future also is one in which an ever-greater share of the nation’s wealth resides with the nation’s wealthy, at a time when inequality already is growing.
Even granting the importance of the fiscal issue, a case might still be made for Mr. Romney if Mr. Obama’s first term had been a failure; if Mr. Romney were more likely to promote American security and leadership abroad; or if the challenger had shown himself superior in temperament, capacity and character. In fact, not one of these is true.
The Poll Front still shows the President is likely to win the electoral college and thus, the election. A Time poll shows Obama up 5 points in the important state of Ohio which will probably determine the election result.
Buoyed by early voting in his favor, Barack Obama leads Mitt Romney by five points in the pivotal state of Ohio, according to a new TIME poll.
Counting both Ohioans who say they will head to the polls on November 6, and those who have already cast a ballot, Obama holds a 49% to 44% lead over Romney in a survey taken Monday and Tuesday night.
The poll’s margin of error is plus or minus three percentage points.
The poll makes clear that there are really two races underway in Ohio. On one hand, the two candidates are locked in a dead heat among Ohioans who have not yet voted but who say they intend to, with 45% of respondents supporting the President and 45% preferring his Republican challenger.
Even weird ol’ Joe Scarborough says: Two new polls scream ‘advantage Obama’.
Two polls released yesterday show President Obama stubbornly clinging to his electoral advantage. TIME Magazine released a new Ohio poll that has Mitt Romney trailing in the Buckeye State by 5 points. Last week’s NBC News/Wall Street Journal/Marist survey also had Romney behind by 5.
TIME’s poll should rattle the nerves of Romney supporters because the results run contrary to Team Romney’s ongoing claim that their internal polls show a dead heat in the Buckeye State. Maybe that’s the case among voters planning to go to the polls on election day but it looks like early voters are tilting dramatically in the president’s direction. If the TIME poll is accurate, it means Mitt Romney will have to grab most of Ohio’s remaining undecided voters if he wants to win this critical battleground state.
PPP released a Nevada survey yesterday that also shows President Obama holding a lead in this key swing state that remains outside the margin of error. Like Ohio, Nevada remains stubbornly in the Obama column. While Mitt Romney has made up ground in the three Southern swing states of Florida, North Carolina and Virginia, voters in Ohio, Nevada and Wisconsin seem do not seem inclined to be easily swept into Romney’s camp.
Obama appears to lead in Virginia also.
A new Public Policy Polling survey in Virginia, conducted on behalf of Health Care for America Now, finds Barack Obama expanding his lead in the aftermath of his debate victory Monday night. He now has 51% to 46% for Mitt Romney, up from a 49/47 advantage last weekend.
Key findings from the survey include:
-Obama’s seen a 7 point net improvement in his favorability rating among Virginia voters from a -3 spread last week (48/51) to now +4 at 51/47. Romney’s numbers have headed in the other direction. He’s dropped 7 points from a +2 spread on our last poll (49/47) to now -5 at 46/51.
-Voters trust Obama more than Romney on several major issues in the election. Those include who voters think will stand up for the middle class (52/44) and who they think will do more to protect Medicare (50/46).
-Obama leads 57/41 with women, 88/8 with African Americans, and 53/42 with young voters. Romney has a 50/45 advantage with men, a 57/41 one with whites, and a 57/41 edge with seniors. Obama’s moved from being slightly behind with independents last week at 45/44 to now slightly ahead at 47/45.
One of the weirdest observations that I’ve seen in awhile is how the US election maps seem to reflect the same kind of boundary lines we saw when we were fighting over the issue of slavery. Even actual Confederate hold outs see this. Steve Pinker has some interesting thoughts on the redness and blueness of some states. I can tell you, it’s not pleasant to live in a red state if you’re a woman, a child, or a minority. There’s an emphasis on a plantation style economy, education goals that are out of step with modernity, and ensuring the primacy of white, christian, men. Abortion and birth control restrictions, ensuring the taxes don’t impact the rich, and enacting radical religious views on all kinds of things have been their priorities. Your only hope is to stay in a red state’s biggest city or move.
Broadly speaking, the Southern and Western desert and mountain states will vote for the candidate who endorses an aggressive military, a role for religion in public life, laissez-faire economic policies, private ownership of guns and relaxed conditions for using them, less regulation and taxation, and a valorization of the traditional family. Northeastern and most coastal states will vote for the candidate who is more closely aligned with international cooperation and engagement, secularism and science, gun control, individual freedom in culture and sexuality, and a greater role for the government in protecting the environment and ensuring economic equality.
So, this election is important. We can’t afford to have these extremist religious agendas dictating our national policy. I say that as I listen to many of my friends who are rape survivors being traumatized all over again by troglodyte white, extremist christian, men who identify more with a fertilized eggs than women and children. We need to send the entire Republican agenda and its goosestepping arm of religious freaks into oblivion. PERIOD.
Are Victims of Mortgage Lender Fraud about to get their Justice?
Posted: October 24, 2012 Filed under: Bailout Blues, Banksters, investment banking | Tags: BOA, DOJ, FHA, FNMA, hustle loans, Subprime mortgages 23 CommentsThe DOJ has filed a lawsuit against BOA on so-called “hustle mortgages” that accuses the lender of selling bad mortgages to Fannie and Freddie. I’m going to follow this, believe me, because it represents a ‘big deal’ for any one that does research in banking, lending, or moral hazard. I’m not a lawyer–nor do I play one on TV–so the finer parts of the law are not in my knowledge ballpark. I do have some knowledge of home value through the apprenticeship I did with a home appraisal service. However, I expect this to influence both lending behavior and the willingness of larger banks to merge with banks in bad shape. The latter is a trick used by regulators to deal with a problem bank. Bank of America is basically being sued over mortgages originated through a Countrywide program called the “hustle mortgage”. It supposedly continued the program after its merger to Countrywide.
This is the first civil fraud suit brought by the Department of Justice concerning mortgage loans sold to Fannie Mae or Freddie Mac.
Manhattan U.S. Attorney Preet Bharara said: “For the sixth time in less than 18 months, this Office has been compelled to sue a major U.S. bank for reckless mortgage practices in the lead-up to the financial crisis. The fraudulent conduct alleged in today’s complaint was spectacularly brazen in scope. As alleged, through a program aptly named ‘the Hustle,’ Countrywide and Bank of America made disastrously bad loans and stuck taxpayers with the bill. As described, Countrywide and Bank of America systematically removed every check in favor of its own balance – they cast aside underwriters, eliminated quality controls, incentivized unqualified personnel to cut corners, and concealed the resulting defects. These toxic products were then sold to the government sponsored enterprises as good loans. This lawsuit should send another clear message that reckless lending practices will not be tolerated.”
FHFA Inspector General Steve A. Linick said: “To prevent fraud, conducting quality reviews and complying with underwriting standards are critical. Countrywide and Bank of America allegedly engaged in fraudulent behavior that contributed to the financial crisis, which ultimately falls on the shoulders of taxpayers. This type of conduct is reprehensible and we are proud to work with our law enforcement partners to hold all parties accountable.”
SIGTARP Special Inspector General Christy Romero said: “The complaint filed today alleges serious and significant misrepresentations that Bank of America made before and during the time taxpayers invested $45 billion in TARP funds in the bank. SIGTARP and its law enforcement partners will investigate allegations of wrongdoing by TARP recipients, particularly conduct that results in substantial losses to the government and taxpayers.”
Are we beginning to see the DOJ move on the banksters? Has this got anything to do with the stampeded to Romney by all things Wall Street?
The Bank of America lawsuit is the sixth brought against a major U.S. bank by the Justice Department in less than 18 months over what Bharara called “reckless mortgage practices in the lead-up to the financial crisis.”
This month, the government sued Wells Fargo & Co. (WFC), one of the biggest mortgage lenders and service, over claims the San Francisco-based bank made reckless loans that caused losses for a federal insurance program when they defaulted. The complaint alleges misconduct over more than a decade related to the bank’s participation in a Federal Housing Administration program and follows similar cases against other lenders including Citigroup Inc. (C) and Deutsche Bank AG. (DB)
A state and federal task force is investigating misconduct in the bundling of mortgage loans into securities before the housing bust. The group’s first legal action was this month, when New York Attorney General Eric Schneiderman sued JPMorgan Chase & Co. (JPM), the biggest U.S. lender, over defective mortgage loans underlying securities, a suit he said would act as a template for other such cases. The bank has denied wrongdoing.
Fannie Mae and Freddie Mac losses totaled more than $1 billion, Bharara said. The Justice Department’s complaint was brought under the federal False Claims Act, which allows for triple damages.
Fannie Mae and Freddie Mac have operated under U.S. conservatorship since 2008, when they were seized amid subprime mortgage losses that pushed them toward insolvency.
“Bank of America has stepped up and acted responsibly to resolve legacy mortgage matters,” Larry DiRita, a spokesman for the Charlotte, North Carolina-based company, said in an e-mailed statement. “The claim that we have failed to repurchase loans from Fannie Mae is simply false. At some point, Bank of America can’t be expected to compensate every entity that claims losses that actually were caused by the economic downturn.”
The government said in the complaint that Bank of America “systematically removed every check” in the issuance of mortgages and then sold the “flawed” mortgages to Fannie Mae and Freddie Mac. Both relied on Bank of America’s assurances that the mortgages they purchased complied with their standards, the U.S. said.
According to the complaint, Countrywide initiated “the Hustle” in 2007 just as mortgage loan defaults were increasing nationally and Fannie Mae and Freddie Mac were tightening their loan purchasing standards to reduce risk. The Countrywide program did just the opposite, the U.S. said.
This suit is based on information from a whistle blower and has been in the works since February.
According to court records, Wednesday’s case was originally filed under seal in February by Edward O’Donnell, a Pennsylvania resident and former executive vice president at Countrywide Home Loans who had worked there between 2003 and 2009.
In that complaint, O’Donnell said Countrywide and later Bank of America dismissed his “numerous” objections to the Hustle, and that he became “one of the lone voices” in his division pointing to escalating loan quality issues and defaults.
O’Donnell could not immediately be reached for comment, and his lawyer did not immediately respond to requests for comment.
Grab your bowl of popcorn. This should be interesting.
The Good Ol’ Days of Blogging
Posted: October 24, 2012 Filed under: 2012 elections, Democratic Politics, Domestic Policy | Tags: blogging, Blogosphere, DKos, Firedoglake, Net Roots Nation, Susie Madrak 64 CommentsI started hanging out at FDL around 2006 after being on a Democratic BBoard for years. That makes me a late-comer to the political blogosphere. I joined
Facebook when you couldn’t get on to it with anything but an academic email. My two first friends were my daughters who I stalked as the concerned mother of two teenage girls. Shortly after that, FDL folks got into Social Media and my buddy list filled up. I still have many connections there but the 2008 vibe from the site and its management still leave a taste in my mouth even though many of my friends still participate there. It’s a different world from 2004 and 2008 and perhaps it was only a matter of time before some one explored that.
TDB has an article up that features Susie Madrak and Peter Daou that you should read. It’s an interesting view back in to Netroots Bloggers ten years ago. I know BB came via the DKOS route. I joined (2004) before I joined the FDL community but really didn’t do much there. I found the diaries sort’ve trite displays of personal ego and preferred the structure of hourly new threads by folks who participated in their discussion. Many of us remember the pre-, post, and 2008 atmosphere of the leftie political blogs when we wound up being homeless . The leftie bloggers took sides–vehemently–in the primary. The safe places became fewer and fewer. Those same places are now dead end blogs. I apply this term generouslysince many of them are really right wing r*f*ing sites now that make you wonder if any of them were actual real democrats at any point in there live or supported women’s issues or anything the Clintons supported. Frankly, it’s the overt racism that gets me now more than anything as they seem to be more aligned with Pam Geller and Phyliss Schafly than Hillary Clinton.
The basic picture of Netroots–ten years after–is an affiliation in decline according to the TDB article.
Part of the Netroots decline had to do with the inevitable maturing of the movement and the simple evolution of the Internet. Ten years ago the blogs were one of the few places on the Internet where it was possible to find out what was happening in real time, as even many establishment news organizations hadn’t figured out how to move their offline print and broadcast products to the Web.
That has long since been sorted out, and in the meantime, dozens of online-only news outlets have been likewise competing for clicks and crowding out some of the proud amateurs. The political conversation, like the rest of the online conversation, has moved to Facebook and Twitter, and the bloggers steeped in an earlier Internet culture have not been able to keep up.
“Some bloggers have learned how to play well with a very dynamic Facebook community, with a very dynamic Twitter community, but a lot just don’t have the mental bandwidth,” said Henry Copeland, CEO of Blogads, which sells advertising on the Internet. “You need a density of folks who are excited about doing it. All of this stuff requires a community, and as a blogger you want to be responding to other bloggers and be in the thick of it, and the thick of things has just moved in another direction.”
The typing hordes have moved in another direction too. The pace of blogging was always punishing and nearly impossible for those who did it to keep another job. But being marginally employed loses its charm after a while, even if you are able to elect the Congress of your dreams.
“The blogosphere that we knew of in 2004 and 2008 is not what it was,” says Raven Brooks, executive director a Netroots Nation, an IRL annual meet-up. “It is still a tight community; it is just older, more established. The economy isn’t what it was then. A lot were students, and they have graduated and gone looking for jobs.”
The back half of the article is dedicated to a where are they now kind’ve narrative. Many of the original bloggers have been mainstreamed into other places and a lot of been consolidated into bigger blogs. The article argues that the blogosphere and netroots is no longer a force for Democrats.
But with another critical election two weeks away, politicians, political operatives, and even the bloggers themselves say the Netroots are a whisper of what they were only four years ago, a dial-up modem in a high-speed world, and that the brigade of laptop-wielding revolutionaries who stormed the convention castle four years ago have all but disappeared as a force within the Democratic Party.
I wonder if they would reach the same conclusion about all the right wing blogs? It seems to me that they are taken much more seriously even by the traditional press. Afterall, Susie or Peter have not been hired by CNN to talk about elections but useless pieces of flesh and oxygen like Erick Erickson are hired as ‘consultants’. I’ve never heard a serious word or thought coming from his mouth once.
So, I’m sure that the GOTV ground game this time in key states is much more important to the Democratic candidates this year than positive action from bloggers. How many of you have actually visited ACT Blue this year? Still, there are a few candidates–Elizabeth Warren and Tammy Duckworth come to mind–that are still getting the benefit of the lose affiliation and affinity that happens on line between liberal activists and liberal bloggers. Where it will go in the future is any one’s guess at this point. I just know that I feel much more connected to democracy by participating. I also know that it’s one of the few places you can still go to get good conversations on extremely important things ignored by the MSM like drones, kill lists, and income inequality. So, call me a lifer.
The Antidote to Republicans/Romney/Ryan and their ilk
Posted: October 23, 2012 Filed under: open thread | Tags: favorite things, NO MORE RIGHT WINGERS!!! 29 Comments
First… Vote! Vote early or vote on election day and vote ANYONE but Republicans/Romney/Ryan and ilk.
Vote communist, socialist, libertarian, democrat, green, WHATEVER …
Then, take a nice relaxing, purifying, long session under the showerhead /bath … you may want to repeat some relaxing mantra that tells you that even the richest of these folks will eventually die and that there is every sign that the country will not have demographics that will even remotely be in their favor AGAIN.
Heat up or cool off your favorite relaxing drink and let your taste buds thrill you!
and then, finally, find some real religion with a lil Al Green …
This is an open thread and it’s for sharing favorite things. PERIOD.
I’m really tired of anything even remotely related to having to listen to ONE more right wing meme/lie.
I can’t tell you how much I appreciate how much you all keep me sane. I love and appreciate each and every one of you! Tonight … fascists like Romney and Ryan are spinning in some hell realm and away from all the other wonderful things on the planet including you and me and the ones we love!!!









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