A few things just broke here, but I think I’ll save fuller remarks for tomorrow.
• I can’t verify this, and I’ve seen anonymous sources get this wrong before, but American Banker says that California and New York will soon join the foreclosure fraud settlement. Arizona’s probably joining too, but I have an easier time believing that one. RJ Eskow asks the right question: if a Missouri grand jury can deliver criminal indictments for this conduct, “why should bankers be allowed to write a check and walk away?”
• One of the reasons that New York’s Eric Schneiderman can separate “pre-bubble” and “post-bubble” conduct is that his state has largely solved the post-bubble problem by simply creating rules forcing lawyers to personally attest to the validity of their documents.
• Much more on this tomorrow, but the Greek bailout talks appear to have broken down completely.
• The Washington state legislature gave final passage to a marriage equality bill today, and the Governor will sign it. Everyone expects a ballot measure on this at some point, but at least for a moment, marriage equality will become law in Washington. Is Illinois next?
• As residents in Homs, Syria talk openly about being under siege, the US military has begun to review their options for intervention, even though the official policy remains non-interventionist.
• With no solution in sight for the payroll tax/UI legislation, Congress may skip their weeklong recess scheduled for the end of the month.
• You know by now that Rick Santorum swept last night’s primary and caucus contests. You may not know that his focus now shifts to Michigan, where Romney’s father was once Governor, rather than Arizona. It’s an interesting tactical decision. Meanwhile, with Santorum staking out the Midwest and Gingrich in the south, Romney looks like a regional candidate rather than a national one.
• I haven’t gotten around to reading Gabriel Sherman’s story channeling the fine whine of Wall Street, but I think my thoughts will line up with Matt Taibbi once I do.
• The possibility does exist that the Supreme Court will deny cert on the Prop 8 case, given the narrow crafting of the ruling. That would certainly end any precedential value from it.
• Something must be wrong with me, I think I completely agree with a Peter Orszag column. Automatic stabilizers should be bolstered, and they should be tied to economic indicators, too (although the right indicators need to be chosen).
• The banks’ mortgage failures have now cost them $72 billion. And climbing. So much fail.
• Republican Senators endorsed a mandate for contraceptive coverage over 10 years ago. This whole debate is so retrograde.
• House Democrats continue to pound Ed DeMarco on principal reductions.
• Interesting item from Housing Wire about Connecticut AG George Jepsen recruiting private consulting firms to help with the RMBS working group investigation into Wall Street abuses. Is there funding for that?
• They’re denying food stamps to US-born children of immigrant parents in Alabama. Where at least I know I’m free.
• The State Department pushes back on the report that it will cut diplomatic staff at the US Embassy in Iraq in half. But they say they will “right-size” the mission.
• John Kasich would get destroyed in a rematch for Ohio Governor, and his totally bizarre, conservative talk radio-host State of the State Address gives you an indication why.
• Sheesh. John Hickenlooper, the governor of Colorado, is a climate skeptic.
• Didn’t think I’d say this, but good for Bernie Goldberg.
• One of the best heads of state on climate change, Mohamed Nasheed of the Maldives, has been deposed in a military coup.
• Refis are starting to spike, according to the Mortgage Bankers Association.
• DSK fallout: hotel workers in New York City will get panic buttons as part of their contract.
• Thank Jeebus the Secret Service can save Presidential candidates from a full-on glitterbombing.
• There’s apparently a very broad definition of “active users” on Facebook. I would fall on the inactive side, personally.




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About FDL News Desk
Has there ever been a need for this!
‘Romney Condoms’ offer protection for the ‘elite penis’
LINK.
Have they got plans for the children:
Jeb Bush to help sell McDonnell’s K-12 agenda
“McDonnell has been pushing bills to make it easier to establish charter schools and fire failing teachers and principals.”
LINK.
“California pension reform group suspends initiative campaign [couldn't get sufficient funding--oh, noes!]”
“California pension reform group suspends initiative campaign [insufficient financial backing!]
In November, Calfornia Pension Reform submitted a proposal to put future state and local public employees into defined contribution plans and another measure that would have shifted future workers into hybrid pensions. In January, it received the title and summary for both, intending to determine which would poll better and then shop that plan to potential campaign donors.
“The language that came back from Attorney General Kamala Harris’ office was worded to make it unpopular with voters, the pension reform group complained. The language was “false and misleading,” it said in a press statement today.”
.LINK
The cruelty doesn’t stop.
Syria using medicine as “weapon of persecution”
‘In Syria today, wounded patients and doctors are pursued and risk torture and arrest at the hands of the security services,’ MSF president Marie-Pierre Allie [Doctors without Borders President] said in a statement.
‘Medicine is being used as a weapon of persecution,’ she charged.”
LINK.
At least there’s an outcry.
Canada’s use of torture data sparks outcry
LINK.
It’s shocking to me that the Obama administration is powerless to stop states from cutting off foodstamps to American children. Aren’t there some discretionary funds that can be withheld to force compliance? This is outrageous.
Refis starting to spike is not necessarily a good thing. This week, some scammer nearly got my mother-in-law to agree to a refi that would have raised her payments $450 a month and netted him a $5000 commission. Beware of travelling refinanciers.
This is depressing. At 9 pm EDT exactly, Bloomberg posted this item claiming both NY and CA caved on the multi-state foreclosure fraud settlement.
Dday’s main post above said there were rumors to that effect, but now they are confirmed by Bloomberg:
*****[snip]*****
*****[snip]*****
[Italics added.]
The Bloomberg piece quoted @8 could not confirm that Florida, Nevada, Massachusetts or Arizona had joined the multi-state settlement. Spokespersons for FL and NV sent emails today stating that the AGs for those states were still reviewing the terms. The MA & AZ non-joined was based on contacts yesterday.
NYT Says the deal is done.
States Negotiate $25 Billion Deal for Homeowners
http://www.nytimes.com/2012/02/09/business/states-negotiate-25-billion-deal-for-homeowners.html?_r=1&hp
Chief defends mortgage fraud task force
In the sane world they are moving to solve energy problem:
from “renewable energy world” website:
“BERLIN — The tanks look like they could hold propane, gasoline or any other form of conventional energy.
But the storage tanks in Prenzlau, some 70 miles north of Berlin, hold energy produced from wind. A hybrid power plant sponsored by four large companies is being tested there to see if the plant’s wind-hydrogen-biogas technology will work.
The system takes wind energy and turns it into hydrogen, which allows it to be stored. First electricity is produced in three wind turbines, which is then used to produce C02-free hydrogen. This so-called “green” hydrogen can be stored and mixed with biogas in a combined heat and power plant, to be used as needed in times of higher demand.
The resulting fuel can then be used for electricity or to power cars.
The technology is designed to solve a key problem in the renewables sector — how to store the energy that’s produced during a windy day for use when it’s dark”
much information at the site about renewable energy, world wide.