As my mother-in-law would say, it’s the only date that’s a command. Her birthday as well, happy birthday mom!
• So Rush Limbaugh “apologized.” The apology is weak, but the spectacle of Rush apologizing is extremely rare. Republican restlessness could be one cause, but the loss of ad support must have really gotten to him. And by the way, that’s not abating, even after the apology. Definitely a new thing.
• BP reached a settlement on a class-action suit from 120,000 Gulf oil spill victims. The total cost: $7.8 billion. But all the money comes from the already allocated $20 billion restitution fund, so you could say this costs BP nothing further. US regulators plan to continue their lawsuits and seek additional fines, however, which could cost up to $17 billion more for violations of the Clean Water Act and other statutes.
• This is only one challenge to the Obama recess appointments, the National Federation of Independent Business tried to graft the challenge onto an existing lawsuit and the judge threw it out. I’m certain that NFIB will try again in a more proper way.
• Matt Yglesias reviews Noam Scheiber’s The Escape Artists. I might have to get my hands on the book just to be appalled at Larry Summers talking about the only way to fix housing being to spend $500 billion to $1 trillion on “bailing out homeowners.” One, you had banks by the short hairs, caught falsifying documents as a matter of policy, and didn’t get 1/20 of that. Second, the alternative when $500 billion on “bailing out homeowners” wasn’t feasible was $50 billion, unspent, on a predatory lending scheme called HAMP?
• Banks, by the way, continue to screw up their mortgage documentation. Foreclosure Hamlet finds an unsigned affidavit submitted to a court. And here’s a ruling against a bank which gave the court two versions of the same assignment of a note.
• The NYT, weirdly, doesn’t mention these kinds of documentation problems as the reason that banks are letting some delinquent borrowers stay in their homes. This is the whole point, NYT, they can’t prove ownership in many states.
• Nevada AG Catherine Cortez Masto talks with the Las Vegas Sun about the foreclosure fraud settlement. Key passage: “I don’t own this global settlement. I want to make that clear. The cake was pretty much baked by the time we got it.” She also said she understands the critics of the deal, and that she’ll continue her criminal investigations in the areas she can.
• Great Q&A with Joseph Stiglitz on inequality, taxes, and more.
• Mike Konczal breaks down the Volcker rule, or rather a thing that the regulatory apparatus needed to stop proprietary trading that was once called the Volcker rule, until the banks gutted it to the point of incomprehension.
• Oceans may be acidifying at a faster rate than anytime in the last 300 million years, according to a scientific study that blames climate change for the result.
• Saudi Arabia issued a statement on the situation in Syria, saying that Syrian citizens have a right to defend themselves from the regime. Meanwhile, some aid has reached civilians in Homs, but the Red Cross has been blocked in other instances.
• Greek bondholders aren’t too keen on the debt restructuring plan so far.
• Marcy Wheeler wonders about the taxpayer-funded vasectomies of Senate Republicans. Either that, or we’re paying for their birth control. One or the other.
• The cost of health care in America far outstrips other countries for the exact same services. For some reason, the concept of greater bargaining power to bring down health care prices through larger market share – i.e., being the “single payer” of the product – doesn’t make it into this article as a solution.
• The long-awaited explanation of the legal underpinning for targeted assassinations could come out Monday.
• John Cole goes medieval on Ed Morrissey. Like an old-fashioned blog fight.
• Mark Thoma with an interesting take on the Bush tax cuts. I think you have to take into account the notion that some deficit-reducing plan will happen at the end of the year, and if you’d rather see that on the tax side or the spending side.
• Funny how we almost never heard about these civilian deaths in Libya at the hands of NATO, ay?
• Are we actually going back to obsessing over the “Red Menace” in China? Is that the setup here?
• Surprising end to the tenure of Brad Dayspring, Eric Cantor’s ubiquitous spokesman.
• The sad part is that bounties in football aren’t new. I remember Buddy Ryan asking Philly players to go after a kicker over 20 years ago.




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About FDL News Desk
Isn’t that what Pritzkers are demanding O do bc they’re Buddhists or something?
Limbaugh issued a classic non-apology apology, which contained the following whopper: “I did not mean a personal attack on Ms. Fluke.” Oh really? Limbaugh identified her by name, completely misrepresented her testimony (a dumb move, as there was video), and called her some of the worst epithets that can be directed at a woman.
I hope his nose grows to the size of one of Babe Ruth’s baseball bats.
Yes I agree, Obama needs to raise taxes on the middle class and below.
No, that will be nowhere near enough money, to overcome deficits. Obama’s average deficit is 30-50% larger than all the Fed personal income tax collected.
At least he apologized. Has Maher, ever apologized? Of course not. IOKIYAD.
Of Limbaugh’s in-your-face hatefulness, which is just the capper on the generic stuff in the GOP…
I swear to God I’m starting think that at bottom, the republicans are so happy with Obama’s sellout that they’re trying to tank the election and make sure they have him for another 4 years.
The Limbaugh train wreck is beginning to look like the Hindenburg.
Is there a big whine in here or is it just me?
Dear shooter242: given that, in a corporate sense, his hateful comments were being inserted right up his and Fox’s asses, I don’t think we should give him too much credit for trying to walk them back. :o)
I guess today is the day to post about the conservative Republican David Frum stating that that is a false equivalency
Some on is drunk very early in the morning.
That is a start. Much more needs to be done to suppress the lesser people. We need to spy on activists and malcontents who fight for worker’s and human rights. And so big corporations should secretly create and sponsor a database to help organize a Dirty Tricks campaign. Then these troublemakers can be denied employment or be targeted by government COINTELPRO.
Yes, ain’t capitalism great! The collaboration between government and multi-national corporations is successfully leading us into the glorious New World Order!
I’ve flagged him as a troll, but to no avail.
• Saudi Arabia issued a statement on the situation in Syria, saying that Syrian citizens have a right to defend themselves from the regime.
I wonder if the citizens of the house of saud know this?
Do American citizens know this?
New rule: Govt must pay to remove the genitals from anyone who makes a public comment exceeding 140 characters relating to the genitals of any other human being.
Please forgive if this has already been posted…I missed some of the threads last week, but Yves had this last week. Some folks in Florida who signed a warranty deed in lieu of foreclosure, satisfying the mortgage and assuming their debt was extinguished, have found that their notes have been sold (apparently to collectors) and they are being pursued for payment.
http://www.nakedcapitalism.com/2012/02/yet-another-mortgage-scam-homeowners-not-getting-cancelled-notes-after-foreclosures-hit-by-later-claims.html
Which is another reminder that no matter how a debt is paid–not just through resolving a foreclosure case–banks should be required to immediately mark the note cancelled and return it to the borrower.
As we learned from the report (made public a month or so ago)from Fannie Mae’s law firm in response to the problems Ray LaVelle (or LeValle?) brought to Fannie’s attention, Fannie only returns paid notes (and they don’t mark them cancelled so they are still negotiable) to servicers or borrowers if the state requires it or the borrower requests it. The rest (approximately 40%) are sent to a 3rd party shredder….still not marked paid or cancelled, so still negotiable.
And since servicers apparently — based on foreclosures by the wrong bank and lost note affidavits–don’t always know who owns the note, there’s the chance that they could be sold and the holder in due course can pursue the borrower for payment even if they have paid the loan in full.
A number of commenters have to flag a persistent and distracting irritant, tammanytiger, before anything may “happen” …
Many of those here, apparently believe that to remove a disruptive and intentionally destructive commenter is “censorship” … something with which they do not wish to sully themselves, it being merely “free speech” that 2fer2 is “free” and Constitutionally empowered to ladle in any fashion which suits.
Or perhaps, shooter is seen to be a convenient and easily refuted “stand-in” for the “other”, an “example” of which group an “example” may daily, and repeatedly, be made …
I have suggested that FDL is, in essence, a deliberative body, and possesses the inherent right and power of such a “group”, to require of those who wish to “participate” in such deliberations, certain fundamental and basic understandings and behaviors, the first being the concept and example of what lawyers may term “good faith”.
Which means: The intent to actually “engage” in conversation, to do so courteously, and to do so without resorting to attacks on the person or hurtful slanders of the beliefs and feelings of others … all within the broad confines of considered and thoughtful reason.
Does 2fer2 rise to these basic requirements?
Each member of the community might wish to ponder this question, given the larger discussing of Limbaugh et al, and the fact that loose words do have consequences when “believed” by the gullible … going to war without reason, and “voting” against one’s interest come readily, for example, to mind.
Anyone who finds credible, useful, or humanely considered, wee 2fer2′s palaver, is most happily welcome to do so …
I do not … and am sorely vexed in seeking to discover what positive things 2fer2 adds to the conversation, to understanding, to tolerance, or to encouraging the courage our today and tomorrows shall require of us … all.
DW
Oooo, 161, that’s gonna hurt.
I went back on shooter’s past comments. In some quarters they would be referred to as “sh*t flicking,” not serious comments. In our local newspaper the comments are so hateful, so unproductive, so utterly without merit that it is a lucky thing that to get registered to be able to use the comment section is almost impossible. Therefore no one is tempted to really engage with the writers, which would do no good anyway. FDL has a position that is shared by most of its readers. I really don’t want to waste time with those trying to pick a fight with us. This site is invaluable for getting analysis scarcely available anywhere else. Let the trolls read it and sputter in their “comments.”
I think we need to give them a lick now and then, if it’s only in passing.
And I don’t think we should start banning people unless they’re using language that is out-and-out racist or sexist or calling for violence, etc.
So far, he’s just basically full of shit. No biggie. If we feel like dog-piling, then dog pile, but my 2C is that we shouldn’t be like the rightwing blogs, where one of us wouldn’t last a day, no matter how reasonable we were.
The thing about “shooter” is that his comments are not well thought-out or insightful so they are easily refuted. A better handle for him would be “target242″.
Fluke is rejecting Limbaugh’s “apology”:
http://news.yahoo.com/sandra-fluke-says-rush-limbaughs-apology-doesnt-change-160325037–abc-news.html
http://www.thenation.com/article/166500/explainer-why-do-we-need-volcker-rule
is an excellent summary of both Volker rule and finance reform in general, and why OWS’s comment about how the proposed rule is too nuanced with too many requirements for the regulator to determine intent is spot on and needs to be reflected in the final rule.
Thanks for the link to the Mike Konczal posting.
I just wasn’t thinking correctly this morning, thanks for pointing that out:)
Susan, calling herself Yves is making a habit of leaving out data in her exposes on her site. I long ago lost respect for the rich and top management as either talented or smart, and now I am losing respect for Web sites that get a million hits a month.
There are hourly ads in Florida on TV and radio, and in print media, that explain Florida’s deficiency laws, and how a foreclosure, or the return of the deed, do not end your problems. Over the past few years I’ve written more than a few entries to my diary at FDL that explain this.
Yet “Yves” portrayed this as Banks breaking the law (albeit she did not say they were).
Folks, Florida, and over 40 other states, have deficiency laws where banks can go after you for the difference between current market and the principal on your mortgage note. It is easily taken care of but it requires being taken care of (bankruptcy comes to mind).
Susan says that there are banks not only going after deficiencies, but there are those that try to get the equivalent of foreclosure money twice. A search of Lexus/Nexis reveals no such cases. I sure wish she would document her claims with at least one such case. I don’t doubt it could happen, errors occur in life, but it would be easily defeated in court – and again I can’t find any such cases.