MEXICANOCCUPATION.blogspot.com
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Go to http://www.MEXICANOCCUPATION.blogspot.com
Utah has long protected illegal immigrants and provided them with endless public benefits, including discounted tuition at public colleges and universities. Last year it became the first state to offer a special class of driver’s licenses for illegal immigrants who will be ineligible to obtain the cards when new federal security standards kick in.
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FROM JUDICIAL WATCH
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Utah Wants To Give Illegal Immigrants Work Permits
Last Updated: Wed, 02/16/2011 - 4:57pm
In a bizarre effort to resolve Utah’s immigration crisis, state lawmakers are considering measures to grant illegal aliens work permits as well as English and civics classes.
The move comes as states and municipalities nationwide craft legislation to actually reduce their illegal immigrant populations, not accommodate them. Incredibly, some of the Utah measures have bipartisan support and a good chance of becoming law by the end of the legislative session.
Illegal alien advocates are calling it a rare but meaningful middle ground in the scorching immigration debate, which has transformed into a hostile clash between local governments and the feds. In one corner is a federal government that fails miserably to fulfill its duty of securing the Mexican border and enforcing immigration laws. In the other are perpetually frustrated local governments taking matters into their own hands.
Usually they introduce bills to rid their communities of illegal immigrants, which is why Utah stands out. Introduced by a Republican state congressman, one of the laws allows illegal immigrants already living in the state to register for a guest worker permit. Family members of permit holders could also stay under the proposal. A House committee approved the guest worker bill this week which means it will continue debate on the House floor.
A second bill, known as the Pilot Accountability Permit Program, would grant the state’s estimated 110,000 illegal immigrants a sort of de facto amnesty. Drafted by a Democratic state senator and a Republican state congressman, the measure also gives illegal aliens work permits if they pass criminal background checks, pay taxes and enroll in English and civics classes.
Passing it will increase public safety and address voter frustration in a “fair and rigorous way,” according to Jeremy Peterson, the Ogden Republican behind the law. He assures that no kind of amnesty will be granted, just that undocumented aliens will be allowed to work and the state can keep track of the “responsible members” of the illegal immigrant community.
Utah has long protected illegal immigrants and provided them with endless public benefits, including discounted tuition at public colleges and universities. Last year it became the first state to offer a special class of driver’s licenses for illegal immigrants who will be ineligible to obtain the cards when new federal security standards kick in.
Friday, February 18, 2011
JUDICIAL WATCH - Arizona Continues to Fight OBAMA & MEXICO'S ASSAULT
MEXICANOCCUPATION.blogspot.com
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Go to http://www.MEXICANOCCUPATION.blogspot.com
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SUPPORT JUDICIAL WATCH AND THE FIGHT AGAINST OBAMA – LA RAZA & MEXICO’S ASSAULT ON LEGALS OF ARIZONA!
OBAMA’S LONG HISTORY OF HISPANDERING AND OPEN BORDERS AGENDA
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Lou Dobbs Tonight
Monday, September 28, 2009
And T.J. BONNER, president of the National Border Patrol Council, will weigh in on the federal government’s decision to pull nearly 400 agents from the U.S.-Mexican border. As always, Lou will take your calls to discuss the issues that matter most-and to get your thoughts on where America is headed.
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From the Desk of Judicial Watch President Tom Fitton:
JW’s New Client: Arizona State Legislature Seeks to Intervene in Federal Lawsuit to Defend AZ Immigration Law
As you no doubt recall, the Obama administration has sued the State of Arizona over its new get-tough illegal immigration law, S.B. 1070. Judicial Watch has been representing Arizona State Senate President Russell Pearce in court against this shameless legal assault. And just last week we added a new client: The Arizona State Legislature.
On Friday, February 11, 2011, we filed a “Motion to Intervene” on behalf of the Arizona State Legislature in the Obama Justice Department lawsuit against the state of Arizona. Governor Jan Brewer paved the way for this intervention when she signed emergency legislation on February 7, 2011, authorizing the Arizona Legislature to retain counsel to help defend S.B. 1070.
Here’s a squib from our motion:
Under a newly enacted Arizona law, the Legislature has been authorized to defend S.B. 1070….Through this Motion, the Legislature now seeks permission to intervene as a defendant (joining the State of Arizona and Governor Brewer) for the purpose of defending its enactment, S.B. 1070, and the interests of the people of Arizona.
In the motion, the Legislature argued that it “has a paramount interest in seeing that [the law’s] enactment is upheld.”
In addition to the “Motion to Intervene,” Judicial Watch also filed a “Proposed Answer in Intervention” on behalf of the Arizona Legislature. The court filing counters the allegations proffered by the Obama Justice Department in its complaint challenging S.B. 1070. Among the Arizona Legislature’s key arguments:
• [The Arizona Legislature] has a right to protect its citizens.
• Arizona has a right to self defense under the Constitution, particularly when the federal government fails to protect it.
• [The Arizona Legislature] complied with all relevant federal, state and local laws, including the Arizona Constitution and the [U.S.] Constitution [in crafting S.B. 1070].
• SB 1070 is not preempted by federal law or the Constitution. SB 1070 does not conflict with federal law, does not constitute an improper regulation of immigration, and Congress has not fully occupied the field.
So how did all of this end up in court in the first place?
On April 23, 2010, Governor Brewer signed into law S.B. 1070. On July 6, 2010, the Obama Justice Department filed a lawsuit challenging the law and requesting a preliminary injunction to prevent the law from being enforced. (As you may recall from the February 4, 2011, edition of the Weekly Update, Judicial Watch uncovered documents proving the Obama Justice Department worked hand-in-hand with the radical leftist ACLU to craft their respective legal strategies. More on that here.)
On July 28, 2010, U.S. District Court Judge Susan Bolton allowed some provisions of the law to be enforced while granting the Obama administration an injunction on other key provisions until the Court could determine whether or not these provisions are constitutional. The State of Arizona appealed Judge Bolton’s ruling which is now under review by the U.S. Court of Appeals for the Ninth Circuit.
In our opinion, the Arizona State Legislature represents the people of Arizona and is right to defend S.B. 1070 against the Obama administration’s legal attack. The people of Arizona have suffered the effects of rampant illegal immigration for far too long.
The Obama administration has taken a dangerous and nonsensical approach to illegal immigration, failing to secure the borders while at the same time attacking Arizona for simply trying to enforce the law and protect its citizens. We look forward to standing with the Arizona State Legislature, Arizona State Senate President Russell Pearce, Arizona House Speaker Kirk Adams and the people of Arizona in defense of the rule of law.
JW considers this work on behalf of S.B. 1070 to be, perhaps, the most important litigation we’ve undertaken in our 17-year history. So much is at stake in this lawsuit. States across the country continue to struggle with the devastating consequences of illegal immigration. They’re looking to Arizona (and, I’m proud to say, your Judicial Watch) for guidance as to what they can do legally to protect themselves. The Obama administration, meanwhile, has fostered an air of lawlessness in response, enacting stealth amnesty, encouraging sanctuary cities to continue their illegal behavior, and then attacking states that try to enforce the law. Enough is enough.
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APPARENTLY THE U.S. CHAMBER of COMMERCE, ENEMY No. 1 OF THE (LEGAL) AMERICAN WORKER, HAS GOTTEN THEIR CLAW$$$ ON BOTH PARTIES AND DEMANDED OPEN AND UNSECURE BORDERS FOR THE EASE OF ILLEGALS INTO OUR JOBS!
AT A TIME WHEN THE MEXICAN DRUG CARTELS HAVE PROCLAIMED THE U.S. “AZTLAN” FREE OF BORDERS AND RIPE FOR THE LOOTING, OBAMA HAS CUT OUR DEFENSE AGAIN. EVEN AS HE FINDS BILLIONS TO SQUANDER ON MUSLIM DICTATORS OVER THERE!
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GOP Joins Obama To Cut Border Security Funding
Last Updated: Tue, 02/15/2011 - 1:55pm
Crucial border security programs are on the chopping block under a government spending bill proposed by Republicans, who have long called for strengthening security along the notoriously violent and porous southern border.
The hypocritical move essentially puts Republicans on the same page as Democrats on a contentious issue that has long been the source of partisan battles. President Obama’s proposed 2011 budget, revealed just a few weeks ago, reduces the number of Border Patrol agents along the Mexican border by 180 and cuts $226 million in funding for an electronic “virtual fence.”
The Republican government spending bill introduced just days ago slashes $600 million from border security and immigration enforcement funds. It would not reduce the number of Border Patrol agents but would decrease funding for border security fencing and technology by $350 million and a federal employment verification program (known as E-Verify) by about $33 million.
House Republicans are touting the budget proposal as the “largest single discretionary spending reduction in the history of Congress.” It cuts government spending by a much-needed $100 billion at a time when the nation’s debt is $14 trillion, according to a statement released by the House Appropriations Committee. The entire Continuing Resolution can be viewed on the committee’s website.
Ironically, Republicans blasted President Obama for not taking immigration enforcement seriously when his budget proposal was made public earlier this month. A ranking member of the House Judiciary Committee, Lamar Smith of Texas, even accused the commander-in-chief of leaving the nation vulnerable to future terrorist attacks by underfunding key national security programs along the southwest border.
Other high-profile Republicans have also denounced the administration’s efforts to secure the Mexican border. Among them is House Speaker John Boehner, who recently said “the violence on America’s border is out of control and the federal government isn't doing its job.” Boehner was also critical of border enforcement under the George W. Bush administration.
Now both parties have come together to slash funding for border security and the timing could not be worse. Mexican drug-cartel violence hit record levels in 2010 and more than 13,000 people were murdered in disturbing and cruel ways not commonly seen in previous years. In some areas the violence has spilled into U.S. communities, forcing local law enforcement agencies to create special units dedicated to combating criminal activity related to illegal immigration and Mexican drug cartels.
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MEXICANOCCUPATION.blogspot.com
OBAMA HAS HAD ONE AGENDA FROM DAY ONE: Service his big bankster donors and make sure they’re making staggering profits and safe from prison, and keeping our borders open for hordes more Mexican looters!
OBAMA’S ONLY JOBS PLAN IS CALLED AMNESTY!
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“The president's straddling can work for the time being. But unless he wants to end up in the sawdust, acrobat Obama will eventually have to hop on one horse and lead the way. That would have to be the horse named "Enforcement First." CHRISTIAN SCIENCE MONITOR
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“What's needed to discourage illegal immigration into the United States has been known for years: Enforce existing law.” ….. CHRISTIAN SCIENCE MONITOR
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latimes.com
Opinion
California must stem the flow of illegal immigrants
The state should go after employers who hire them, curb taxpayer-funded benefits, deploy the National Guard to help the feds at the border and penalize 'sanctuary' cities.
Illegal immigration is another matter entirely. With the state budget in tatters, millions of residents out of work and a state prison system strained by massive overcrowding, California simply cannot continue to ignore the strain that illegal immigration puts on our budget and economy. Illegal aliens cost taxpayers in our state billions of dollars each year. As economist Philip J. Romero concluded in a 2007 study, "illegal immigrants impose a 'tax' on legal California residents in the tens of billions of dollars."
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But President Obama lit the fuse in February when he signed the massive expansion of the State Children’s Health Insurance Program (SCHIP). That law loosened eligibility requirements for legal immigrants and their children by watering down document and evidentiary standards – making it easy for individuals to use fake Social Security cards to apply for benefits with little to no chance of getting caught. In addition, Obama’s S-CHIP expansion revoked Medicaid application time limits that were part of the 1996 welfare reform law. Immigration activists see the provisions as first steps toward universal coverage for illegals.
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WHILE BARACK OBAMA GIVES HIMSELF A B+ (HIS BANKSTERS GAVE HIM THE GRADE) JUDICIAL WATCH’S GRADE IS A BIT MORE REALISTIC:
JUDICIAL WATCH.org
With trillion dollar bailouts, government-run healthcare, banks and car companies, ACORN corruption, attacks on conservative media, illegal alien amnesty, unprecedented and dangerous new rights for terrorists, perks for campaign donors—this is the Obama legacy—and we haven't even gotten through the first year of his presidency!
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New Stealth Federal Funding Bill for La Raza
Which brings us to an extraordinary matter of some urgency. Several weeks before the White House and its Senate allies announced their big "breakthrough" legislation (S.1348), radicals in the House quietly introduced legislation to pump $5 million directly into La Raza next year — and $10 million per year for "each fiscal year thereafter."
H. R. 1999, entitled the Hope Fund Act of 2007, should truthfully be labeled the "Perpetual Funding of La Raza Radicals Act."
"This is country belongs to Mexico" is said by the Mexican Militant. This is a common teaching that the U.S. is really AZTLAN, belonging to Mexicans, which is taught to Mexican kids in Arizona and California through a LA Raza educational program funded by American Tax Payers via President Obama, when he gave LA RAZA $800,000.00 in March of 2009!
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OBAMA STACKS HIS ADMINISTRATION WITH LA RAZA FASCIST PARTY MEMBERS!
Immigration will be Obama's Waterloo. We now know Obama is a closet leftist radical who has a tin ear when it comes to listening to the American people. Obama has appointed immigration radicals to high positions in his Administration such as Hilda Solis (Secretary of Labor), Senior White House Advisor Celia Munoz (former Sr. Vice President of La Raza), and ICE’s William Hurtt. These actions stand in stark contrast to the clearly expressed will of the vast majority of American people, who want our existing immigration laws enforced, our border brought under control, and no grant of amnesty to millions of law breaking illegal aliens who are wreaking havoc on our society -- and who cost taxpaying Americans a lot of money. The American public will not permit mass amnesty to be granted to illegal aliens -- before or after November. Too many American citizens and legal residents understand the enormous stakes at play (including the very future of this country). Obama sees 12-20 million new voter registration cards – and he does not care if they are submitted by people who have no right to be in our country, whose first act coming here was to break our laws, and who if granted amnesty will literally bankrupt us.
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Obama soft on illegals enforcement
Arrests of illegal immigrant workers have dropped precipitously under President Obama, according to figures released Wednesday. Criminal arrests, administrative arrests, indictments and convictions of illegal immigrants at work sites all fell by more than 50 percent from fiscal 2008 to fiscal 2009.
The figures show that Mr. Obama has made good on his pledge to shift enforcement away from going after illegal immigrant workers themselves - but at the expense of Americans' jobs, said Rep. Lamar Smith of Texas, the Republican who compiled the numbers from the Department of Homeland Security's U.S. Immigration and Customs Enforcement agency (ICE). Mr. Smith, the top Republican on the House Judiciary Committee, said a period of economic turmoil is the wrong time to be cutting enforcement and letting illegal immigrants take jobs that Americans otherwise would hold.
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MOST OF THE FORTUNE 500 ARE GENEROUS DONORS TO LA RAZA – THE MEXICAN FASCIST POLITICAL PARTY. THESE FIGURES ARE DATED. CNN CALCULATES THAT WAGES ARE DEPRESSED $300 - $400 BILLION PER YEAR!
“The principal beneficiaries of our current immigration policy are affluent Americans who hire immigrants at substandard wages for low-end work. Harvard economist George Borjas estimates that American workers lose $190 billion annually in depressed wages caused by the constant flooding of the labor market at the low-wage end.” Christian Science Monitor
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OBAMA’S LONG HISTORY OF HISPANDERING….
Lou Dobbs Tonight
CNN -- July 27 Pilgrim: Well presidential candidate Senator Barack Obama voiced support for yesterday's court ruling that struck down Hazleton's illegal immigration law. Senator Obama called the federal court ruling a victory for all Americans. The senator said comprehensive reform is needed so local communities do not continue to take matters into their own hands. Senator Obama was a supporter of the Senate's failed immigration bill, which would have given amnesty to millions of illegal aliens.
FROM CREOLE FOLKS
Obama Seeks Brother of "Chicago Mob Boss" for Top White House Post
The roaches and con-artist, fake journalist on cable news are all lying about William Daley being all this and all that, this man is an open borders, down with America, free trade globalist. MSNBC and Gretta "the Scientology" Van Susteren from Fox News are knowingly deceiving the public about D. Issa & his letter to "business owners"=which they made into such a BIG DAM DEAL, but no one says anything when Barrack Hussein Obama, comes around with all of these shady bankers, hedge fund managers and Wall St. Tycoons, which he puts in his cabinet. All of Obama's meeting with Wall Street asking, "What can I do for you?" is never something covered by Keith Oberman or Rachel Maddow.
(Bloomberg) -- President Barack Obama is considering naming William Daley, a JPMorgan Chase & Co. executive and former U.S. Commerce secretary, to a high-level administration post, possibly White House chief of staff, people familiar with the matter said.
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BUSH WAR PROFITEER, DIANNE FEINSTEIN IS A MAJOR DONOR TO BARACK OBAMA AND HAS THEREFORE AVOIDED ANY CRIMINAL INVESTIGATIONS INTO HER HUSBANDS NUMEROUS CONFLICTS OF INTERESTS AND DEALS WITH RED CHINA.
Lou Dobbs Tonight Friday, May 16, 2008
Some in Congress are once again trying to push piecemeal immigration reform through the back door. Sen. Diane Feinstein of California attached a farm worker program to the multibillion dollar Iraq war funding bill yesterday which would grant temporary amnesty to 1.3 million farm workers and their families over the next five years.
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Lou Dobbs Tonight
Wednesday, October 28, 2009
And WAYNE ALLYN ROOT, author of The Conscience of a Libertarian, says he sees parallels between President Obama and… Bernard Madoff. So does Root smell a big political Ponzi
scheme brewing? The former Libertarian vice presidential candidate will explain.
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Lou Dobbs Tonight
Thursday, October 22, 2009
The federal government has declared war on Sheriff JOE ARPAIO of Maricopa County, Arizona, for enforcing our nation’s immigration laws. “America’s Toughest Sheriff” will give Lou an update.
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Lou Dobbs Tonight
Friday, October 16, 2009
E-Verify- the single most successful federal program aimed at keeping illegal immigrants out of the workforce- is once again threatened. This time, E-Verify was stripped from a Senate Amendment behind closed doors and without explanation. Instead of becoming a permanent program E-verify has been reduced to only three years. Critics are calling this a stall tactic and an attempt at killing an employment enforcement system. We will have a full report tonight.
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Lou Dobbs Tonight
Thursday, October 15, 2009
E-Verify -- the single most successful federal program aimed at keeping illegal immigrants out of the nation's workforce is once again being threatened. Permanent reauthorization for the program -- which has a 99.7-percent accuracy rate -- has been pulled from pending legislation. Now the program is set to expire in just 3-years. The change was made behind closed doors in the Senate -- without public comment or debate.
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Lou Dobbs Tonight
Wednesday, October 14, 2009
New attempts to put comprehensive immigration reform back on the front burner. Congressman Luis Gutierrez -- the chair of the Democratic Caucus Immigration Task Force -- is unveiling new legislation that would call for amnesty for the up to 20 million illegal immigrants in this country.
Congressman Gutierrez will join me tonight
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Lou Dobbs Tonight
Tuesday, October 6, 2009
The Obama administration could be weakening a successful joint federal and local program aimed at keeping illegal immigrants off our streets. "287 G" gives local police the training and authority to enforce federal immigration law. Supporters of the program believe the ministration wants to limit the program to criminal illegal immigrants already in custody -- limiting the investigative authority of police.
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Lou Dobbs Tonight
Monday, October 5, 2009
And Father PATRICK BASCIO has a remarkably different perspective on illegal immigration from that of most Christian clergymen-one he’s outlined in a remarkable new book entitled
On the Immorality of Illegal Immigration: An Alternative Christian View.
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Lou Dobbs Tonight
Monday, September 28, 2009
And T.J. BONNER, president of the National Border Patrol Council, will weigh in on the federal government’s decision to pull nearly 400 agents from the U.S.-Mexican border. As always, Lou will take your calls to discuss the issues that matter most-and to get your thoughts on where America is headed.
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Lou Dobbs Tonight
Tuesday, September 08, 2009
Federal contractors now must use E-verify to check the status of their employees on federal projects. The rule which goes into effect today will affect almost 169,000 contractors and some 3.8 million workers. The E-verify program has an accuracy rating of 99.6% but has been repeatedly challenged by the U.S. Chamber of Congress. We will have a full report
tonight.
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CNN NOW REPORTS THERE ARE NEARLY ONE MILLION MEX GANG MEMBERS IN THIS NATION!
Lou Dobbs Tonight
And there are some 800,000 gang members in this country: That’s more than the combined number of troops in our Army and Marine Corps. These gangs have become one of the principle ways to import and distribute drugs in the United States. Congressman David Reichert joins Lou to tell us why those gangs are growing larger and stronger, and why he’s introduced legislation to eliminate the top three international drug gangs.
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Lou Dobbs Tonight
Thursday, September 18, 2008
Another victory for American workers in Arizona. Yesterday, the Ninth Circuit Court of Appeals upheld the get-tough employer sanctions law in the state. The law hits employers who knowingly hire illegal aliens with strict penalties and in some cases even strips businesses of their licenses. A lower court upheld the same law in February. But open-borders and amnesty groups along with the business lobby are considering yet another appeal.
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Lou Dobbs Tonight
Monday, February 11, 2008
In California, League of United Latin American Citizens has adopted a resolution to declare "California Del Norte" a sanctuary zone for immigrants. The declaration urges the Mexican government to invoke its rights under the Treaty of Guadalupe Hidalgo "to seek third nation neutral arbitration of disputes concerning immigration laws and their enforcement." We’ll have the story.
Mexican President Felipe Calderon is in New York today on the first leg his five day tour across America to meddle in immigration issues in the United States. This is his first visit to the U.S. since he became President in 2006, but he will not meet with President Bush or any of the presidential candidates, who he has accused of spewing anti immigrant rhetoric. Join us for that report.
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Lou Dobbs
Tonight Wednesday, March 5, 2008
Immigration experts are appearing on Capitol Hill today to release the results of a study showing the cost of illegal immigration on the criminal justices system in the 24 U.S. counties bordering Mexico–more $1 billion in less than a decade.
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CA OPERATES YEARLY DEFICITS OF $20 BILLION, AND PAYS OUT $20 BILLION IN SOCIAL SERVICES TO ILLEGALS! DO THE MATH!
Lou Dobbs Tonight
Wednesday, June 10, 2009
Gov. Schwarzenegger said California is facing “financial Armageddon”. He is making drastic cuts in the budget for education, health care and services. But there is one place he isn’t making cuts… services for illegal immigrants. These services are estimated to cost the state four to five billion dollars a year. Schwarzenegger said he is “happy” to offer these services. We will have a full report tonight.
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Lou Dobbs Tonight
Thursday, May 28, 2009
Plus drug cartel violence is spreading across our border with Mexico further into the United States. Mexican drug cartels are increasingly being linked to crimes in this country. Joining Lou tonight, from our border with Mexico is the new “border czar” Alan Bersin, the Department of Homeland Security Assistant Secretary for International Affairs and Special Representative for Border Affairs.
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Lou Dobbs Tonight
Monday, April 20, 2009
And compelling new evidence that H-1B visas for foreign workers lower the pay of information technology workers in this country. Critics say the report, by NYU’s Stern School of Business and Pennsylvania’s Wharton School, proves that corporate elites are importing cheap overseas labor simply to lower the wages of American workers. We’ll have a special report.
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Lou Dobbs Tonight
Thursday, April 9, 2009
Plus, outrage after President Obama prepares to push ahead with his plan for so-called comprehensive immigration reform. Pres. Obama is fulfilling a campaign promise to give
legal status to millions of illegal aliens as he panders to the pro-amnesty, open borders lobby. Tonight we will have complete coverage.
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Lou Dobbs Tonight
Monday, February 16, 2009
Construction of the 670 miles of border fence mandated by the Bush administration is almost complete. The Border Patrol says the new fencing, more agents and new technology
have reduced illegal alien apprehensions. But fence opponents are trying to stop the last few miles from being finished. We will have a full report, tonight.
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Plus, even open border advocates agree that the most effective way of fighting illegal immigration is to crack down on the employment of illegal aliens. Yet, those same groups are
opposed to E-Verify, which has an initial accuracy rate of 99.6% making it one the most accurate programs ever. E-Verify was stripped from the stimulus bill but who stripped it out and who is opposed to verifying employment status is still not clear.
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Lou Dobbs Tonight
Friday, October 17, 2008
Tonight, a Supreme Court ruling is putting our democracy at risk. The court today overturned a federal appeals court decision that would have forced Ohio to do more to verify questionable voter registrations. We’ll have the very latest in our special report.
Plus, in the War on the Middle Class tonight, a government program is found to be rampant with fraud and abuse, giving even more American jobs to foreign workers. A new Department of Homeland Security report shows cases of violations, forgery and shell businesses in the H-1B visa program. We’ll have that and much more.
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Lou Dobbs Tonight
Tuesday, January 13, 2009
In Colorado, over 1,300 illegal aliens are being investigated for applying for improper tax refunds. The ACLU has written a letter to the judge threatening to sue if the judge convenes a grand jury to investigate the case. We will have all the latest developments of the case as well as the ACLU’s bullying in pursuit of their amnesty agenda.
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Lou Dobbs Tonight
Tuesday, February 3, 2009
And WILLIAM GHEEN, the president of Americans for Legal Immigration, breaks down his push for E-Verify—and why the Obama administration is wrong to delay its implementation when it comes to federal contractors.
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MEXICANOCCUPATION.blogspot.com
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Go to http://www.MEXICANOCCUPATION.blogspot.com and read articles and comments from other Americans on what they’ve witnessed in their communities around the country. While most of the population of California is now ILLEGAL, the problems, costs, assault to our culture by Mexico is EVERYWHERE. copy and pass it to your friends.
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Report Illegals & Employers Toll Free... (866) 347-2423
INS National Customer Service Center Phone: 1-800-375-5283.
http://www.ice.gov/ ICE, ice, ICE
http://www.reportillegals.com/
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Colorado Alliance for Immigration Reform
www.CAIRCO.org
http://www.FAIRUS.org
http://www.JUDICIALWATCH.org
http://www.ALIPAC.us
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Go to http://www.MEXICANOCCUPATION.blogspot.com
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SUPPORT JUDICIAL WATCH AND THE FIGHT AGAINST OBAMA – LA RAZA & MEXICO’S ASSAULT ON LEGALS OF ARIZONA!
OBAMA’S LONG HISTORY OF HISPANDERING AND OPEN BORDERS AGENDA
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Lou Dobbs Tonight
Monday, September 28, 2009
And T.J. BONNER, president of the National Border Patrol Council, will weigh in on the federal government’s decision to pull nearly 400 agents from the U.S.-Mexican border. As always, Lou will take your calls to discuss the issues that matter most-and to get your thoughts on where America is headed.
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From the Desk of Judicial Watch President Tom Fitton:
JW’s New Client: Arizona State Legislature Seeks to Intervene in Federal Lawsuit to Defend AZ Immigration Law
As you no doubt recall, the Obama administration has sued the State of Arizona over its new get-tough illegal immigration law, S.B. 1070. Judicial Watch has been representing Arizona State Senate President Russell Pearce in court against this shameless legal assault. And just last week we added a new client: The Arizona State Legislature.
On Friday, February 11, 2011, we filed a “Motion to Intervene” on behalf of the Arizona State Legislature in the Obama Justice Department lawsuit against the state of Arizona. Governor Jan Brewer paved the way for this intervention when she signed emergency legislation on February 7, 2011, authorizing the Arizona Legislature to retain counsel to help defend S.B. 1070.
Here’s a squib from our motion:
Under a newly enacted Arizona law, the Legislature has been authorized to defend S.B. 1070….Through this Motion, the Legislature now seeks permission to intervene as a defendant (joining the State of Arizona and Governor Brewer) for the purpose of defending its enactment, S.B. 1070, and the interests of the people of Arizona.
In the motion, the Legislature argued that it “has a paramount interest in seeing that [the law’s] enactment is upheld.”
In addition to the “Motion to Intervene,” Judicial Watch also filed a “Proposed Answer in Intervention” on behalf of the Arizona Legislature. The court filing counters the allegations proffered by the Obama Justice Department in its complaint challenging S.B. 1070. Among the Arizona Legislature’s key arguments:
• [The Arizona Legislature] has a right to protect its citizens.
• Arizona has a right to self defense under the Constitution, particularly when the federal government fails to protect it.
• [The Arizona Legislature] complied with all relevant federal, state and local laws, including the Arizona Constitution and the [U.S.] Constitution [in crafting S.B. 1070].
• SB 1070 is not preempted by federal law or the Constitution. SB 1070 does not conflict with federal law, does not constitute an improper regulation of immigration, and Congress has not fully occupied the field.
So how did all of this end up in court in the first place?
On April 23, 2010, Governor Brewer signed into law S.B. 1070. On July 6, 2010, the Obama Justice Department filed a lawsuit challenging the law and requesting a preliminary injunction to prevent the law from being enforced. (As you may recall from the February 4, 2011, edition of the Weekly Update, Judicial Watch uncovered documents proving the Obama Justice Department worked hand-in-hand with the radical leftist ACLU to craft their respective legal strategies. More on that here.)
On July 28, 2010, U.S. District Court Judge Susan Bolton allowed some provisions of the law to be enforced while granting the Obama administration an injunction on other key provisions until the Court could determine whether or not these provisions are constitutional. The State of Arizona appealed Judge Bolton’s ruling which is now under review by the U.S. Court of Appeals for the Ninth Circuit.
In our opinion, the Arizona State Legislature represents the people of Arizona and is right to defend S.B. 1070 against the Obama administration’s legal attack. The people of Arizona have suffered the effects of rampant illegal immigration for far too long.
The Obama administration has taken a dangerous and nonsensical approach to illegal immigration, failing to secure the borders while at the same time attacking Arizona for simply trying to enforce the law and protect its citizens. We look forward to standing with the Arizona State Legislature, Arizona State Senate President Russell Pearce, Arizona House Speaker Kirk Adams and the people of Arizona in defense of the rule of law.
JW considers this work on behalf of S.B. 1070 to be, perhaps, the most important litigation we’ve undertaken in our 17-year history. So much is at stake in this lawsuit. States across the country continue to struggle with the devastating consequences of illegal immigration. They’re looking to Arizona (and, I’m proud to say, your Judicial Watch) for guidance as to what they can do legally to protect themselves. The Obama administration, meanwhile, has fostered an air of lawlessness in response, enacting stealth amnesty, encouraging sanctuary cities to continue their illegal behavior, and then attacking states that try to enforce the law. Enough is enough.
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APPARENTLY THE U.S. CHAMBER of COMMERCE, ENEMY No. 1 OF THE (LEGAL) AMERICAN WORKER, HAS GOTTEN THEIR CLAW$$$ ON BOTH PARTIES AND DEMANDED OPEN AND UNSECURE BORDERS FOR THE EASE OF ILLEGALS INTO OUR JOBS!
AT A TIME WHEN THE MEXICAN DRUG CARTELS HAVE PROCLAIMED THE U.S. “AZTLAN” FREE OF BORDERS AND RIPE FOR THE LOOTING, OBAMA HAS CUT OUR DEFENSE AGAIN. EVEN AS HE FINDS BILLIONS TO SQUANDER ON MUSLIM DICTATORS OVER THERE!
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GOP Joins Obama To Cut Border Security Funding
Last Updated: Tue, 02/15/2011 - 1:55pm
Crucial border security programs are on the chopping block under a government spending bill proposed by Republicans, who have long called for strengthening security along the notoriously violent and porous southern border.
The hypocritical move essentially puts Republicans on the same page as Democrats on a contentious issue that has long been the source of partisan battles. President Obama’s proposed 2011 budget, revealed just a few weeks ago, reduces the number of Border Patrol agents along the Mexican border by 180 and cuts $226 million in funding for an electronic “virtual fence.”
The Republican government spending bill introduced just days ago slashes $600 million from border security and immigration enforcement funds. It would not reduce the number of Border Patrol agents but would decrease funding for border security fencing and technology by $350 million and a federal employment verification program (known as E-Verify) by about $33 million.
House Republicans are touting the budget proposal as the “largest single discretionary spending reduction in the history of Congress.” It cuts government spending by a much-needed $100 billion at a time when the nation’s debt is $14 trillion, according to a statement released by the House Appropriations Committee. The entire Continuing Resolution can be viewed on the committee’s website.
Ironically, Republicans blasted President Obama for not taking immigration enforcement seriously when his budget proposal was made public earlier this month. A ranking member of the House Judiciary Committee, Lamar Smith of Texas, even accused the commander-in-chief of leaving the nation vulnerable to future terrorist attacks by underfunding key national security programs along the southwest border.
Other high-profile Republicans have also denounced the administration’s efforts to secure the Mexican border. Among them is House Speaker John Boehner, who recently said “the violence on America’s border is out of control and the federal government isn't doing its job.” Boehner was also critical of border enforcement under the George W. Bush administration.
Now both parties have come together to slash funding for border security and the timing could not be worse. Mexican drug-cartel violence hit record levels in 2010 and more than 13,000 people were murdered in disturbing and cruel ways not commonly seen in previous years. In some areas the violence has spilled into U.S. communities, forcing local law enforcement agencies to create special units dedicated to combating criminal activity related to illegal immigration and Mexican drug cartels.
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MEXICANOCCUPATION.blogspot.com
OBAMA HAS HAD ONE AGENDA FROM DAY ONE: Service his big bankster donors and make sure they’re making staggering profits and safe from prison, and keeping our borders open for hordes more Mexican looters!
OBAMA’S ONLY JOBS PLAN IS CALLED AMNESTY!
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“The president's straddling can work for the time being. But unless he wants to end up in the sawdust, acrobat Obama will eventually have to hop on one horse and lead the way. That would have to be the horse named "Enforcement First." CHRISTIAN SCIENCE MONITOR
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“What's needed to discourage illegal immigration into the United States has been known for years: Enforce existing law.” ….. CHRISTIAN SCIENCE MONITOR
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latimes.com
Opinion
California must stem the flow of illegal immigrants
The state should go after employers who hire them, curb taxpayer-funded benefits, deploy the National Guard to help the feds at the border and penalize 'sanctuary' cities.
Illegal immigration is another matter entirely. With the state budget in tatters, millions of residents out of work and a state prison system strained by massive overcrowding, California simply cannot continue to ignore the strain that illegal immigration puts on our budget and economy. Illegal aliens cost taxpayers in our state billions of dollars each year. As economist Philip J. Romero concluded in a 2007 study, "illegal immigrants impose a 'tax' on legal California residents in the tens of billions of dollars."
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But President Obama lit the fuse in February when he signed the massive expansion of the State Children’s Health Insurance Program (SCHIP). That law loosened eligibility requirements for legal immigrants and their children by watering down document and evidentiary standards – making it easy for individuals to use fake Social Security cards to apply for benefits with little to no chance of getting caught. In addition, Obama’s S-CHIP expansion revoked Medicaid application time limits that were part of the 1996 welfare reform law. Immigration activists see the provisions as first steps toward universal coverage for illegals.
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WHILE BARACK OBAMA GIVES HIMSELF A B+ (HIS BANKSTERS GAVE HIM THE GRADE) JUDICIAL WATCH’S GRADE IS A BIT MORE REALISTIC:
JUDICIAL WATCH.org
With trillion dollar bailouts, government-run healthcare, banks and car companies, ACORN corruption, attacks on conservative media, illegal alien amnesty, unprecedented and dangerous new rights for terrorists, perks for campaign donors—this is the Obama legacy—and we haven't even gotten through the first year of his presidency!
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New Stealth Federal Funding Bill for La Raza
Which brings us to an extraordinary matter of some urgency. Several weeks before the White House and its Senate allies announced their big "breakthrough" legislation (S.1348), radicals in the House quietly introduced legislation to pump $5 million directly into La Raza next year — and $10 million per year for "each fiscal year thereafter."
H. R. 1999, entitled the Hope Fund Act of 2007, should truthfully be labeled the "Perpetual Funding of La Raza Radicals Act."
"This is country belongs to Mexico" is said by the Mexican Militant. This is a common teaching that the U.S. is really AZTLAN, belonging to Mexicans, which is taught to Mexican kids in Arizona and California through a LA Raza educational program funded by American Tax Payers via President Obama, when he gave LA RAZA $800,000.00 in March of 2009!
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OBAMA STACKS HIS ADMINISTRATION WITH LA RAZA FASCIST PARTY MEMBERS!
Immigration will be Obama's Waterloo. We now know Obama is a closet leftist radical who has a tin ear when it comes to listening to the American people. Obama has appointed immigration radicals to high positions in his Administration such as Hilda Solis (Secretary of Labor), Senior White House Advisor Celia Munoz (former Sr. Vice President of La Raza), and ICE’s William Hurtt. These actions stand in stark contrast to the clearly expressed will of the vast majority of American people, who want our existing immigration laws enforced, our border brought under control, and no grant of amnesty to millions of law breaking illegal aliens who are wreaking havoc on our society -- and who cost taxpaying Americans a lot of money. The American public will not permit mass amnesty to be granted to illegal aliens -- before or after November. Too many American citizens and legal residents understand the enormous stakes at play (including the very future of this country). Obama sees 12-20 million new voter registration cards – and he does not care if they are submitted by people who have no right to be in our country, whose first act coming here was to break our laws, and who if granted amnesty will literally bankrupt us.
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Obama soft on illegals enforcement
Arrests of illegal immigrant workers have dropped precipitously under President Obama, according to figures released Wednesday. Criminal arrests, administrative arrests, indictments and convictions of illegal immigrants at work sites all fell by more than 50 percent from fiscal 2008 to fiscal 2009.
The figures show that Mr. Obama has made good on his pledge to shift enforcement away from going after illegal immigrant workers themselves - but at the expense of Americans' jobs, said Rep. Lamar Smith of Texas, the Republican who compiled the numbers from the Department of Homeland Security's U.S. Immigration and Customs Enforcement agency (ICE). Mr. Smith, the top Republican on the House Judiciary Committee, said a period of economic turmoil is the wrong time to be cutting enforcement and letting illegal immigrants take jobs that Americans otherwise would hold.
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MOST OF THE FORTUNE 500 ARE GENEROUS DONORS TO LA RAZA – THE MEXICAN FASCIST POLITICAL PARTY. THESE FIGURES ARE DATED. CNN CALCULATES THAT WAGES ARE DEPRESSED $300 - $400 BILLION PER YEAR!
“The principal beneficiaries of our current immigration policy are affluent Americans who hire immigrants at substandard wages for low-end work. Harvard economist George Borjas estimates that American workers lose $190 billion annually in depressed wages caused by the constant flooding of the labor market at the low-wage end.” Christian Science Monitor
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OBAMA’S LONG HISTORY OF HISPANDERING….
Lou Dobbs Tonight
CNN -- July 27 Pilgrim: Well presidential candidate Senator Barack Obama voiced support for yesterday's court ruling that struck down Hazleton's illegal immigration law. Senator Obama called the federal court ruling a victory for all Americans. The senator said comprehensive reform is needed so local communities do not continue to take matters into their own hands. Senator Obama was a supporter of the Senate's failed immigration bill, which would have given amnesty to millions of illegal aliens.
FROM CREOLE FOLKS
Obama Seeks Brother of "Chicago Mob Boss" for Top White House Post
The roaches and con-artist, fake journalist on cable news are all lying about William Daley being all this and all that, this man is an open borders, down with America, free trade globalist. MSNBC and Gretta "the Scientology" Van Susteren from Fox News are knowingly deceiving the public about D. Issa & his letter to "business owners"=which they made into such a BIG DAM DEAL, but no one says anything when Barrack Hussein Obama, comes around with all of these shady bankers, hedge fund managers and Wall St. Tycoons, which he puts in his cabinet. All of Obama's meeting with Wall Street asking, "What can I do for you?" is never something covered by Keith Oberman or Rachel Maddow.
(Bloomberg) -- President Barack Obama is considering naming William Daley, a JPMorgan Chase & Co. executive and former U.S. Commerce secretary, to a high-level administration post, possibly White House chief of staff, people familiar with the matter said.
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BUSH WAR PROFITEER, DIANNE FEINSTEIN IS A MAJOR DONOR TO BARACK OBAMA AND HAS THEREFORE AVOIDED ANY CRIMINAL INVESTIGATIONS INTO HER HUSBANDS NUMEROUS CONFLICTS OF INTERESTS AND DEALS WITH RED CHINA.
Lou Dobbs Tonight Friday, May 16, 2008
Some in Congress are once again trying to push piecemeal immigration reform through the back door. Sen. Diane Feinstein of California attached a farm worker program to the multibillion dollar Iraq war funding bill yesterday which would grant temporary amnesty to 1.3 million farm workers and their families over the next five years.
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Lou Dobbs Tonight
Wednesday, October 28, 2009
And WAYNE ALLYN ROOT, author of The Conscience of a Libertarian, says he sees parallels between President Obama and… Bernard Madoff. So does Root smell a big political Ponzi
scheme brewing? The former Libertarian vice presidential candidate will explain.
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Lou Dobbs Tonight
Thursday, October 22, 2009
The federal government has declared war on Sheriff JOE ARPAIO of Maricopa County, Arizona, for enforcing our nation’s immigration laws. “America’s Toughest Sheriff” will give Lou an update.
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Lou Dobbs Tonight
Friday, October 16, 2009
E-Verify- the single most successful federal program aimed at keeping illegal immigrants out of the workforce- is once again threatened. This time, E-Verify was stripped from a Senate Amendment behind closed doors and without explanation. Instead of becoming a permanent program E-verify has been reduced to only three years. Critics are calling this a stall tactic and an attempt at killing an employment enforcement system. We will have a full report tonight.
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Lou Dobbs Tonight
Thursday, October 15, 2009
E-Verify -- the single most successful federal program aimed at keeping illegal immigrants out of the nation's workforce is once again being threatened. Permanent reauthorization for the program -- which has a 99.7-percent accuracy rate -- has been pulled from pending legislation. Now the program is set to expire in just 3-years. The change was made behind closed doors in the Senate -- without public comment or debate.
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Lou Dobbs Tonight
Wednesday, October 14, 2009
New attempts to put comprehensive immigration reform back on the front burner. Congressman Luis Gutierrez -- the chair of the Democratic Caucus Immigration Task Force -- is unveiling new legislation that would call for amnesty for the up to 20 million illegal immigrants in this country.
Congressman Gutierrez will join me tonight
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Lou Dobbs Tonight
Tuesday, October 6, 2009
The Obama administration could be weakening a successful joint federal and local program aimed at keeping illegal immigrants off our streets. "287 G" gives local police the training and authority to enforce federal immigration law. Supporters of the program believe the ministration wants to limit the program to criminal illegal immigrants already in custody -- limiting the investigative authority of police.
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Lou Dobbs Tonight
Monday, October 5, 2009
And Father PATRICK BASCIO has a remarkably different perspective on illegal immigration from that of most Christian clergymen-one he’s outlined in a remarkable new book entitled
On the Immorality of Illegal Immigration: An Alternative Christian View.
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Lou Dobbs Tonight
Monday, September 28, 2009
And T.J. BONNER, president of the National Border Patrol Council, will weigh in on the federal government’s decision to pull nearly 400 agents from the U.S.-Mexican border. As always, Lou will take your calls to discuss the issues that matter most-and to get your thoughts on where America is headed.
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Lou Dobbs Tonight
Tuesday, September 08, 2009
Federal contractors now must use E-verify to check the status of their employees on federal projects. The rule which goes into effect today will affect almost 169,000 contractors and some 3.8 million workers. The E-verify program has an accuracy rating of 99.6% but has been repeatedly challenged by the U.S. Chamber of Congress. We will have a full report
tonight.
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CNN NOW REPORTS THERE ARE NEARLY ONE MILLION MEX GANG MEMBERS IN THIS NATION!
Lou Dobbs Tonight
And there are some 800,000 gang members in this country: That’s more than the combined number of troops in our Army and Marine Corps. These gangs have become one of the principle ways to import and distribute drugs in the United States. Congressman David Reichert joins Lou to tell us why those gangs are growing larger and stronger, and why he’s introduced legislation to eliminate the top three international drug gangs.
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Lou Dobbs Tonight
Thursday, September 18, 2008
Another victory for American workers in Arizona. Yesterday, the Ninth Circuit Court of Appeals upheld the get-tough employer sanctions law in the state. The law hits employers who knowingly hire illegal aliens with strict penalties and in some cases even strips businesses of their licenses. A lower court upheld the same law in February. But open-borders and amnesty groups along with the business lobby are considering yet another appeal.
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Lou Dobbs Tonight
Monday, February 11, 2008
In California, League of United Latin American Citizens has adopted a resolution to declare "California Del Norte" a sanctuary zone for immigrants. The declaration urges the Mexican government to invoke its rights under the Treaty of Guadalupe Hidalgo "to seek third nation neutral arbitration of disputes concerning immigration laws and their enforcement." We’ll have the story.
Mexican President Felipe Calderon is in New York today on the first leg his five day tour across America to meddle in immigration issues in the United States. This is his first visit to the U.S. since he became President in 2006, but he will not meet with President Bush or any of the presidential candidates, who he has accused of spewing anti immigrant rhetoric. Join us for that report.
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Lou Dobbs
Tonight Wednesday, March 5, 2008
Immigration experts are appearing on Capitol Hill today to release the results of a study showing the cost of illegal immigration on the criminal justices system in the 24 U.S. counties bordering Mexico–more $1 billion in less than a decade.
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CA OPERATES YEARLY DEFICITS OF $20 BILLION, AND PAYS OUT $20 BILLION IN SOCIAL SERVICES TO ILLEGALS! DO THE MATH!
Lou Dobbs Tonight
Wednesday, June 10, 2009
Gov. Schwarzenegger said California is facing “financial Armageddon”. He is making drastic cuts in the budget for education, health care and services. But there is one place he isn’t making cuts… services for illegal immigrants. These services are estimated to cost the state four to five billion dollars a year. Schwarzenegger said he is “happy” to offer these services. We will have a full report tonight.
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Lou Dobbs Tonight
Thursday, May 28, 2009
Plus drug cartel violence is spreading across our border with Mexico further into the United States. Mexican drug cartels are increasingly being linked to crimes in this country. Joining Lou tonight, from our border with Mexico is the new “border czar” Alan Bersin, the Department of Homeland Security Assistant Secretary for International Affairs and Special Representative for Border Affairs.
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Lou Dobbs Tonight
Monday, April 20, 2009
And compelling new evidence that H-1B visas for foreign workers lower the pay of information technology workers in this country. Critics say the report, by NYU’s Stern School of Business and Pennsylvania’s Wharton School, proves that corporate elites are importing cheap overseas labor simply to lower the wages of American workers. We’ll have a special report.
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Lou Dobbs Tonight
Thursday, April 9, 2009
Plus, outrage after President Obama prepares to push ahead with his plan for so-called comprehensive immigration reform. Pres. Obama is fulfilling a campaign promise to give
legal status to millions of illegal aliens as he panders to the pro-amnesty, open borders lobby. Tonight we will have complete coverage.
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Lou Dobbs Tonight
Monday, February 16, 2009
Construction of the 670 miles of border fence mandated by the Bush administration is almost complete. The Border Patrol says the new fencing, more agents and new technology
have reduced illegal alien apprehensions. But fence opponents are trying to stop the last few miles from being finished. We will have a full report, tonight.
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Plus, even open border advocates agree that the most effective way of fighting illegal immigration is to crack down on the employment of illegal aliens. Yet, those same groups are
opposed to E-Verify, which has an initial accuracy rate of 99.6% making it one the most accurate programs ever. E-Verify was stripped from the stimulus bill but who stripped it out and who is opposed to verifying employment status is still not clear.
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Lou Dobbs Tonight
Friday, October 17, 2008
Tonight, a Supreme Court ruling is putting our democracy at risk. The court today overturned a federal appeals court decision that would have forced Ohio to do more to verify questionable voter registrations. We’ll have the very latest in our special report.
Plus, in the War on the Middle Class tonight, a government program is found to be rampant with fraud and abuse, giving even more American jobs to foreign workers. A new Department of Homeland Security report shows cases of violations, forgery and shell businesses in the H-1B visa program. We’ll have that and much more.
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Lou Dobbs Tonight
Tuesday, January 13, 2009
In Colorado, over 1,300 illegal aliens are being investigated for applying for improper tax refunds. The ACLU has written a letter to the judge threatening to sue if the judge convenes a grand jury to investigate the case. We will have all the latest developments of the case as well as the ACLU’s bullying in pursuit of their amnesty agenda.
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Lou Dobbs Tonight
Tuesday, February 3, 2009
And WILLIAM GHEEN, the president of Americans for Legal Immigration, breaks down his push for E-Verify—and why the Obama administration is wrong to delay its implementation when it comes to federal contractors.
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MEXICANOCCUPATION.blogspot.com
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Go to http://www.MEXICANOCCUPATION.blogspot.com and read articles and comments from other Americans on what they’ve witnessed in their communities around the country. While most of the population of California is now ILLEGAL, the problems, costs, assault to our culture by Mexico is EVERYWHERE. copy and pass it to your friends.
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Report Illegals & Employers Toll Free... (866) 347-2423
INS National Customer Service Center Phone: 1-800-375-5283.
http://www.ice.gov/ ICE, ice, ICE
http://www.reportillegals.com/
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Colorado Alliance for Immigration Reform
www.CAIRCO.org
http://www.FAIRUS.org
http://www.JUDICIALWATCH.org
http://www.ALIPAC.us
FORBES - California In Meltdown Paying For Mexican LA RAZA Occupation
MEXICANOCCUPATION.blogspot.com
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Go to http://www.MEXICANOCCUPATION.blogspot.com and read articles and comments from other Americans on what they’ve witnessed in their communities around the country. While most of the population of California is now ILLEGAL, the problems, costs, assault to our culture by Mexico is EVERYWHERE. copy and pass it to your friends.
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CALIFORNIA – A STATE FILLED WITH ILLEGALS AND CORRUPT SELF-SERVING POLITICIANS SERVING THEIR CORPORATE RAPIST PAYMASTERS.
“So what about California? The economic well-being of many metropolitan areas in the Golden State has been sinking precipitously since 2006. This year, three California regions--Oakland, Sacramento and San Bernardino-Riverside--have sunk down into the bottom 10 on the large cities list. That's a phenomenon we've never seen before--and never expected to see.” FORBES
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CALIFORNIA IN MELTDOWN: JOBS GO FIRST TO ILLEGALS. MEXICAN GANGS HAVE INFESTED ALL CITIES. THE STATE OF CA PAYS OUT $20 BILLION PER YEAR IN SOCIAL SERVICES TO ILLEGALS. THE STATE HAS THE LARGEST, AND MOST EXPENSIVE PRISON SYSTEM IN THE COUNTRY, HALF THE PRISON POPULATION ARE ILLEGALS FROM MEXICO.
THERE ARE ONLY EIGHT (8) STATES WITH A LARGER POPULATION THAN LOS ANGELES COUNTY, WHERE HALF THE JOBS GO TO ILLEGALS USING STOLEN SOCIAL SECURITY NUMBERS. THIS COUNTY PAYS OUT $600 MILLION DOLLARS A YEAR TO ILLEGALS ON WELFARE, AND HIS MEXICO’S “ANCHOR” BABY BIRTHING CENTER.
BUT WHO PAYS FOR THE MEXICAN OCCUPATION AND EVER EXPANDING WELFARE STATE?
THE MEXICAN TAX-FREE UNDERGROUND ECONOMY IS CALCULATED TO BE $2 BILLION PER YEAR!
THERE HAVE BEEN MORE THAN 2,000 CALIFORNIANS MURDERED BY ILLEGALS THAT FLED BACK OVER THE BORDER TO AVOID PROSECUTION.
THERE IS NOT ONE DEM IN CA THAT IS NOT LA RAZA ENDORSED, AND WORKS CEASELESSLY FOR VARIOUS AMNESTY PLOYS!
FEINSTEIN, BOXER, PELOSI, AND WAXMAN ALL WANT OPEN BORDERS, NO E-VERIFY, CONTINUED OBAMA NON-ENFORCEMENT OF LAWS PROHIBITING THE EMPLOYMENT OF ILLEGALS AS WELL AS NO ENGLISH ONLY, AND NO I.D. TO EASE ILLEGALS INTO VOTING BOOTHS!
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CA – NO LEGAL NEED APPLY!
CA – MEXICO’S WELFARE OFFICE!
CA – MEX GANG STATE!
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OBAMA KNOWS HE WORKS FOR HIS BANKSTER DONORS, WHICH IS WHY EVEN AS A NATION CONTINUES TO SPIRAL DOWN, OBAMA’S BANKSTER DONORS ARE PULLING IN MASSIVE PROFITS, STAGGERING BONUSES, AND CONTINUED UNINTERRUPTED CRIME WAVE!
IT’S A BIT DIFFERENT FOR OTHER SECTORS WHERE OBAMA IS ASSAULTING THE AMERICAN WORKER, TYPICAL ON BEHALF OF JOBS FOR ILLEGALS FIRST!
THE REASON OBAMA BROUGHT IN DALEY WAS TO OPERATE J.P. MORGAN’S INTERESTS FROM THE WHITE HOUSE BY THIS MORGAN BANKSTERS, AND BECAUSE DALEY IS AN ADVOCATE FOR OPEN BORDERS LIKE OBAMA!
“Unfortunately, there's not much in the way of short-term--or perhaps even medium- or long-term--hope for a strong rebound in those places. President Obama seems determined to give the automakers, for whom Michigan is home base, far rougher treatment than what he meted out to ailing companies in the financial sector.”
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FORBES.com
New Geographer
Worst Cities For Jobs
Joel Kotkin, 04.28.09, 12:00 AM ET
One of the saddest tasks in the annual survey of the best places to do business I conduct with Pepperdine University's Michael Shires is examining the cities at the bottom of the list. Yet even in these nether regions there exists considerable diversity: Some places are likely to come back soon, while others have little immediate hope of moving up. (Please also see "Best Cities For Jobs" for further analysis.)
The study is based on job growth in 336 regions--called Metropolitan Statistical Areas by the Bureau of Labor Statistics, which provided the data--across the U.S. Our analysis looked not only at job growth in the last year but also at how employment figures have changed since 1996. This is because we are wary of overemphasizing recent data and strive to give a more complete picture of the potential a region has for job-seekers. (For the complete methodology, click here.)
First let's deal with the perennial losers, the sad sacks of the American economy. Mostly cities in the nation's industrial heartland, these places have ranked toward the bottom of our list for much of the past five years. Eleven of the bottom 16 regions on our list are in two states, Ohio and Michigan. In fact, the Wolverine State alone accounts for bottom four cities: Jackson, Michigan, Detroit, Saginaw and Flint.
In Depth: Worst Big Cities For Jobs
In Depth: Worst Medium-Sized Cities For Jobs
In Depth: Worst Small Cities For Jobs
Unfortunately, there's not much in the way of short-term--or perhaps even medium- or long-term--hope for a strong rebound in those places. President Obama seems determined to give the automakers, for whom Michigan is home base, far rougher treatment than what he meted out to ailing companies in the financial sector.
In addition, new environmental regulations may not help auto production, since it necessitates some carbon-spewing and therefore perhaps unacceptable levels of greenhouse gas emission.
However, not all of Michigan's problems stem from Washington or the marketplace. Many of the locations at the bottom of the list remain inhospitable to business. To be sure, housing is cheap--in Detroit, property values are fast plummeting toward zero--but running a business can be surprisingly expensive in these hard-pressed places.
In fact, according to a recent survey by the Tax Foundation, Ohio has an average tax burden roughly similar to New York, California, Massachusetts and Connecticut. But while the others are comparatively high-income states, Ohio residents no longer enjoy that level of affluence.
Can these places come back? It is un-American to abandon hope, but there needs to be a radical shift in strategy to focus on creating new middle-class jobs. Some Midwestern cities, like Kalamazoo and Indianapolis, have made some successful efforts to diversify their economies, encouraging start-ups and trying to be business-friendly.
But those are exceptions. Cleveland, one of our worst big cities, could spark a renaissance by revamping its port and nearby industrial hinterland. Once the world economy improves, it could re-emerge--building on the existing knowledge and skills of its production- and design-savvy population--as a hub for manufacturing and exports.
But right now, Cleveland does not seem to be pursuing such opportunities. As Purdue's Ed Morrison has pointed out, local leaders there seem to "confuse real estate development with economic development."
So Cleveland will focus on inanities such as convention business and tourism, believing we all fantasize about a week enjoying the sights along Lake Erie. Yet even high-profile buildings like the Rock and Roll Hall of Fame and Museum, completed in 1986, have not transformed a gritty old industrial town into a beacon for the hip and cool.
Old industrial cities like Cleveland are better off focusing on their locational advantages--access to roads, train lines and water routes--while offering a safe, inexpensive and friendly venue for ambitious young families, immigrants and entrepreneurs.
Meanwhile, cities with formerly robust economies--like Reno, Nev., Las Vegas, Orlando, Fla., Tampa, Fla., Fort Lauderdale, Fla., West Palm Beach, Fla., Jacksonville, Fla., and Phoenix--are more likely to rebound. These areas topped our list for much of the 2000s; their success was driven first by surging population and job growth and later by escalating housing prices.
But the collapse of the housing bubble and a drop in large-scale migration from other regions has weakened, often dramatically, these perennial successes. "We could rely on 1,000 people a week moving into the area," notes one longtime official in central Florida. "These people needed services, houses and bought stuff. Now the growth is a 10th of that."
Instead of waiting for the real estate bubble to return, these areas should choose to focus on boosting employment in fields like medical services, business services and light manufacturing. In much of Florida and Nevada, there's also a need to shift away from a reliance on tourism, an industry that pays poorly on average and is always subject to changes in consumer tastes.
We can even be cautiously optimistic about some of these former superstars. After all, observes Phoenix-based economist Elliot Pollack, the existing reasons for moving to Arizona, Nevada or Florida--warm weather, relatively low taxes and generally pro-business governments--have not disappeared. "There's no change in the fundamentals," he argues. "It's a transition. It's ugly, and there's pain, but it's still a cycle that will turn."
Once the economy stabilizes, Pollack says he expects the flow of people and companies from the Northeast and California to Phoenix and other former hot spots will resume, once again lured by inexpensive real estate, better conditions for business and a generally more up-to-date infrastructure.
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The Problem with California
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So what about California? The economic well-being of many metropolitan areas in the Golden State has been sinking precipitously since 2006. This year, three California regions--Oakland, Sacramento and San Bernardino-Riverside--have sunk down into the bottom 10 on the large cities list. That's a phenomenon we've never seen before--and never expected to see.
Like other Sun Belt communities, California suffered disproportionately from the housing bubble's bust, which has devastated both employment in construction-related industries as well as much of the finance sector. But some, like economist Esmael Adibi, director of the Anderson Center for Economic Research at Chapman University, where I teach, thinks a real estate turnaround may be imminent.
Among the first to predict the potential for a real estate bubble back in 2005, these days Adibi is more upbeat, pointing to rising sales of single-family homes, particularly at the lower end of the market. California's inventory of unsold homes is now down to about six months' worth, a figure well below the national average of 9.6 months.
(ILLEGALS STILL POUR OVER OUR OPEN BORDERS AND INTO OUR JOBS AND WELFARE LINES DAILY)
It seems not everyone is ready to abandon the Golden State--but still, recovery in California may prove weaker than in surrounding states. One forecaster, Bill Watkins, even predicts unemployment could reach 15% next year, up from about 11% today. California, most likely, will see only an anemic recovery in 2010 even if growth picks up elsewhere.
Much of the problem lies with the state's notoriously inept government. The enormous budget deficit will almost certainly lead to tax increases, which will fall mostly on the state's vaunted high-income entrepreneurial residents. Stimulus funds won't do much good either, Adibi notes, since "the state is grabbing all of the federal stimulus money" to keep itself afloat.
A draconian regulatory environment also could dim California's prospects for growth. Despite double-digit unemployment, the state seems determined not only to raise taxes but also to tighten its regulatory stranglehold.
This is a stark contrast to what happened in the 1990s during the last deep recession. At that time, leaders from both political parties pulled together to reform the state's regulatory and tax environment. Almost everyone recognized the need to improve the economic climate.
But an even deeper recession, it seems, hardly troubles today's dominant players--public employees, environmental activists and gentry liberals who largely live along the coast. The state has recently passed a draconian Assembly bill aimed to offset global warming by capping greenhouse gas emissions--a measure that seems designed to discourage productive industry.
"This is becoming a horrible place to produce anything," says Watkins, who is executive director of the Economic Forecast Project at the University of California, Santa Barbara.
California's lawyers, though, might stay busy. Attorney General Jerry Brown has threatened to sue anyone who grows their business in unapproved, environment-threatening ways. To be sure, this promise may have relatively little impact on the more affluent, aging coastal communities--but it could wreak havoc on younger, less tony areas in the state's interior. Many of the local economies there still reply on resource-dependent industries like oil, manufacturing and agriculture.
It's sad because California has the capacity to recover more quickly than the rest of the country if the state moderates its spending and stops regulating itself into oblivion. This current round of legislation is so dangerous precisely because it could eviscerate the heart of the economy by slowing down entrepreneurial growth, the state's greatest asset.
Even in hard times, there are people with innovative ideas trying to bring them to market--and not just in Hollywood- and Silicon Valley-based industries but in a broad range of fields, from garments to agriculture, aerospace and processed foods. The desire to increase regulation reflects a peculiar narcissism and arrogance of the state's ruling elites, who believe the genius of San Francisco's venture capitalists and Los Angeles' image-makers alone are enough to spark a powerful recovery.
This is delusional. True, California still has a lead in everything from farm products to films to high-tech manufacturers. But it has been slowly losing ground--to both other states and overseas competitors. CEOs and top management might stay in the Golden State, but they increasingly send outside its borders all jobs that don't require access to the local market, genius scientists or talented entertainers.
"There's a feeling in California that we will come back, no matter what, because we are California," Watkins says. "The leadership is swallowing Panglossian Kool-aid. Some very smart people, a beautiful climate and nice beaches is not enough to guarantee a strong recovery."
Joel Kotkin is a presidential fellow in urban futures at Chapman University. He is executive editor of newgeography.com and writes the weekly New Geographer column for Forbes.
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MEXIFORNIA
IN ANY CALIFORNIA CITY, IT WILL BE ILLEGALS THAT GET JOBS FIRST. IN SILICON VALLEY, IT WILL BE THE IMPORTED CHINESE AND INDIANS THAT WILL GET JOBS FIRST.
WORST BIG CITIES FOR JOBS: HERE’S CALIFORNIA’S SHARE
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No. 10: Riverside-San Bernardino-Ontario, Calif.
The mortgage crisis and housing bust in this populous suburban area south of Los Angeles led to a halt in home building and a subsequent drop in natural resources, mining and construction jobs, which declined 23.6% between 2007 and 2008. Overall employment declined by 6.2% in the last year and 38.5% over the last decade, sinking the Inland Empire into the first major downturn in its recent history. Yet it’s not all negative. Home sales are up, which may mean that this once vibrant area could come back sooner than many expect.
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No. 7: Sacramento-Arden Arcase-Roseville, Calif.
The real estate bust in California's capital and its surrounding areas has stunted job growth. Construction and natural resources jobs fell by 30.4% between 2005 and 2008. The housing crisis is accompanied by ones in the financial services and manufacturing industries, in which jobs declined 14.8% and 12%, respectively, over the last three years. The year between 2007 and 2008 saw a 3.9% overall decline in jobs. Employment in education and health services has been the area's saving grace; jobs in that sector increased 23.5% between 2003 and 2008.
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No. 5: Oakland-Fremont-Hayward, Calif.
The financial services sector of this metropolitan area, across the bay from San Francisco, which includes urban Oakland and the surrounding suburbs, lost 21.1% of its jobs between 2003 and 2008. Construction jobs were hit almost as hard, dropping 18% over the same period. However, the Bay Area, bolstered by colleges in and around San Francisco and Berkeley, saw a 1.6% increase in education and health services jobs last year. But, overall, job losses in this northern California region totaled 3.7% from 2007 to 2008.
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No. 4: Santa Ana-Anaheim-Irvine, Calif.
The fallout from real estate speculation and a longstanding tech boom in this region, which is south of Los Angeles and includes some of the toniest coastal real estate in the nation, has slowed employment to a crawl. Here, between 2005 and 2008, jobs in construction declined 17.8%, and jobs in information declined 10%. Employment in financial services, a field that especially boomed in Irvine, dropped by 22% over the same years. Much of this was tied to mortgage related companies. Overall, the area saw a 4% decline in jobs between 2007 and 2008. Dropping home prices and rising sales suggest a slow recovery could be on the way though.
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CA CONTRIBUTION TO WORST MEDIUM SIZED CITIES FOR JOBS
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No. 10: Santa Rosa-Petaluma, Calif.
"Best of the worst" is a dubious honor. But for the cities of Santa Rosa and Petaluma, home to just under 500,000 people north of San Francisco, the news isn't all bad. Despite cumulative job losses of 4.5% between 2007 and 2008, these communities have seen an 8.2% overall uptick in jobs if you consider data since 1997. The drops are biggest in one predictable sector: the construction sector which saw a double digit decline in jobs, largely from the collapse of the bay area’s housing bubble. Retail and financial services employers also cut workers, with each sector losing about 10% of its jobs.
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CA CONTRIBUTION TO WORST SMALL CITIES FOR JOBS:
No. 7: Redding, Calif.
Partly because of the housing slump affecting many Sun Belt states, between 2005 and 2008 jobs in the natural resources, mining and construction sector contracted by 41%. Overall employment has dropped 10% since 1997. In the last year, Redding also saw double-digit job loss in the wholesale, information and transportation and utilities sectors. While government positions account for 22.8% of all jobs--and their number has been increasing over the last five years--the Redding Record Searchlight has reported that the city may have to lay off 60 workers.
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WORST PLACES IN COUNTRY BY CNBC
1. El Centro, California
Population: 41,241
Lose your job in El Centro and it may be quite some time before you find another one. One in four people here are out of work and the city holds the not-so distinguished honor of having the highest unemployment rate — 27.5 percent — in the country (close behind is Yuma, Ariz., with 27.2 percent unemployment).
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The desert city, which is located in Imperial County just across the border from Mexicali, has a jobless rate triple the national average of 9.5 percent thanks to the seasonal fluctuations of field laborers. Field work is the county's third-largest employment sector after government, transportation and utilities, according to AOL News.
"Its location across the border from a much larger Mexican city means that there is a large floating labor force," Jim Gerber, an economics professor and director of the international business program at San Diego State University, told AOL News.
"The data for Imperial County is skewed by this, such that the layoffs and out-of-work laborers are not actually counted correctly."
Even with the ebb and flow of its working population, things are still pretty bleak in El Centro. Last year, the city's cemetery went into foreclosure.
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6. Los Angeles, California
Population: 3,849,378
If you don't really care about breathing, Los Angeles is a great place. The metro area that stretches from Long Beach to Riverside has the worst ozone pollution in the country, according to the American Lung Association's State of the Air report for 2010. Along with being tops in ozone pollution, L.A. is ranked third in year-round particle pollution, and fourth in short-term particle pollution.
Ozone is the byproduct of pollutants released by cars, chemical plants, refineries, and other sources. It exists naturally in the upper atmosphere of the Earth, but when emitted at ground level, it's considered a harmful outdoor pollutant. Inhaling ozone can cause wheezing, coughing, chest pain, throat irritation, congestion, and can make people more susceptible to respiratory illnesses such as bronchitis and pneumonia, according to the US Environmental Protection Agency. Think about that next time you drive in Los Angeles, which also lays claim the worst traffic in the country.
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Lou Dobbs Tonight Friday, May 16, 2008
Some in Congress are once again trying to push piecemeal immigration reform through the back door. Sen. Diane Feinstein of California attached a farm worker program to the multibillion dollar Iraq war funding bill yesterday which would grant temporary amnesty to 1.3 million farm workers and their families over the next five years.
FORBES:
LOS ANGELES AMONG FORBES’ ‘TOP 10 U.S. CITIES IN FREEFALL’
Forbes has released its list of 'Top 10 U.S. Cities In Freefall', and California has the dubious distinction of appearing thrice. The greater Los Angeles, Riverside and Sacramento areas all made the list, only Florida had more cities represented. In compiling the list, Forbes used six metrics, including the percent the median home price has fallen since its individual peak, how many people were moving in and out of these metros, and percent change in unemployment.
Of California's woes, Forbes writes:
Riverside, Los Angeles and Sacramento are suffering because of the knocks they took after their inflated housing markets began to plummet. Unemployment in the City of Angels has nearly tripled in three years, to 12%. Riverside's unemployment has also ballooned, to 15%. Meanwhile Sacramento saw a 75% drop in new building permits. These are troubling signs for Cali metros, but not surprising. The end of the state's home-price climb triggered more than just a housing slump.
"In California, so many jobs were concentrated in construction," says Michael Fratantoni, vice president of research at the Mortgage Bankers Association, the professional association for real estate financiers. "Jobs building single family homes wound up not being sustainable, and there were a lot of job losses."
The Forbes report comes on the heels of California's most recent jobless report, which put the state's unemployment rate at a record 12.6% for March. However, in what might be an encouraging sign for the region, KPCC reports today that foreclosures in LA County are down 43.5% for the first quarter of 2010 compared to last year.
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LOS ANGELES UNDER MEX OCCUPATION:
Additionally, the county spends $550 million on public safety and nearly $500 million on healthcare for illegal aliens.
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JUDICIAL WATCH.org
County’s Monthly Welfare Tab For Illegal Aliens $52 Million
09/07/2010
As the mainstream media focuses on a study that reveals a sharp decline in the nation’s illegal immigrant population, monthly welfare payments to children of undocumented aliens increased to $52 million in one U.S. county alone.
The hoopla surrounding last week’s news that the annual flow of illegal immigrants into the U.S. dropped by two-thirds in the past decade overlooked an important matter; the cost of educating, incarcerating and medically treating illegal aliens hasn’t decreased along with it, but rather skyrocketed to the tune of tens of billions of dollars annually.
THIS FIGURE DOES NOT INCLUDE EXTRA MILLIONS PAID FOR ANCHOR BABIES
Those figures don’t even include the extra millions that local municipalities dish out on welfare payments to the U.S.-born children of illegal immigrants, commonly known as anchor babies. In Los Angeles County alone that figure increased by nearly $4 million in the last year, sticking taxpayers with a whopping $52 million tab to provide illegal immigrants’ offspring with food stamps and other welfare benefits for just one month.
That means the nation’s most populous county, in the midst of a dire financial crisis, will spend more than $600 million this year to provide families headed by illegal immigrants with welfare benefits. In each of the past two years Los Angeles County taxpayers have spent about half a billion dollars just to cover the welfare and food-stamp costs of illegal immigrants. Additionally, the county spends $550 million on public safety and nearly $500 million on healthcare for illegal aliens.
About a quarter of the county’s welfare and food stamp issuances go to parents who reside in the United States illegally and collect benefits for their anchor babies, according to the figures from L.A. County’s Department of Social Services. Nationwide, Americans pay around $22 billion annually to provide illegal immigrants with welfare perks that include food assistance programs such as free school lunches in public schools, food stamps and a nutritional program (known as WIC) for low-income women and their children.
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Lou Dobbs Tonight
Monday, February 11, 2008
In California, League of United Latin American Citizens has adopted a resolution to declare "California Del Norte" a sanctuary zone for immigrants. The declaration urges the Mexican government to invoke its rights under the Treaty of Guadalupe Hidalgo "to seek third nation neutral arbitration of disputes concerning immigration laws and their enforcement." We’ll have the story.
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latimes.com
Opinion
California must stem the flow of illegal immigrants
The state should go after employers who hire them, curb taxpayer-funded benefits, deploy the National Guard to help the feds at the border and penalize 'sanctuary' cities.
Illegal immigration is another matter entirely. With the state budget in tatters, millions of residents out of work and a state prison system strained by massive overcrowding, California simply cannot continue to ignore the strain that illegal immigration puts on our budget and economy. Illegal aliens cost taxpayers in our state billions of dollars each year. As economist Philip J. Romero concluded in a 2007 study, "illegal immigrants impose a 'tax' on legal California residents in the tens of billions of dollars."
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MEXICANOCCUPATION.blogspot.com
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“Through love of having children, we are going to take over.” AUGUSTIN CEBADA, BROWN BERETS, THE LA RAZA FASCIST PARTY
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The National Council of La Raza (NCLR) is not only one of the wealthiest and most politically powerful militant organizations in the country, it is also notoriously racist and subversive. The group's name, "La Raza," means "The Race," by which they are referring to ethnic Mexicans, or more broadly to "hispanics" or "latinos." And it is quite clear from their decades of vitriolic rhetoric — both spoken and written — that the La Raza activists are trying to engender not only race consciousness amongst hispanic U.S. citizens and Mexican migrants, but also racial militancy and animosity toward "Gringo America."
NCLR: Agents for the Government of Mexico?
Especially troubling is NCLR's leading role in the Fundacion Solidaridad Mexicano Americana (Foundation for Mexican-American Solidarity, FSMA), an organization founded and funded by the government of Mexico and directed by the Mexican Ministry of Foreign Affairs and Ministry of Public Education. Both of these ministries have been engaged in efforts aimed at demanding full political rights for illegal aliens in the U.S. and indoctrinating America's Hispanic population in radical, racist La Raza ideology.
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HEARD ENGLISH TODAY?
1 IN 5 BIRTHS IN LOS ANGELS ARE BY ILLEGALS. THAT DOES NOT COUNT THE NUMBER OF HISPANIC BIRTHS THAT ARE LEGAL! A CHILD BORN IN OUR BORDERS FROM ILLEGALS FROM MEXICO IS STILL A MEX CITIZEN!
HERE’S THE PICTURE IF WE DON’T END THE MEX INVASION:
LOS ANGELES TIMES
60 million Californians by mid-century
Riverside will become the second most populous county behind Los Angeles and Latinos the dominant ethnic group, study says. By Maria L. La Ganga and Sara LinTimes Staff Writers
July 10, 2007
Over the next half-century, California's population will explode by nearly 75%, and Riverside will surpass its bigger neighbors to become the second most populous county after Los Angeles, according to state Department of Finance projections released Monday. California will near the 60-million mark in 2050, the study found, raising questions about how the state will look and function and where all the people and their cars will go. The latest numbers figure the state will be much more crowded than earlier estimates (by nearly 5 million) and that it will take a bit longer than previously thought for Latinos to become the majority of California's population: 2042, not 2038.The figures show that the majority of California's growth will be in the Latino population, said Dowell Myers, a professor of urban planning and demography at USC, adding that "68% of the growth this decade will be Latino, 75% next and 80% after that."That should be a wake-up call for voting Californians, Myers said, pointing out a critical disparity. Though the state's growth is young and Latino, the majority of voters will be older and white — at least for the next decade."The future of the state is Latino growth," Myers said. "We'd sure better invest in them and get them up to speed. Older white voters don't see it that way. They don't realize that someone has to replace them in the work force, pay for their benefits and buy their house."
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Go to http://www.MEXICANOCCUPATION.blogspot.com and read articles and comments from other Americans on what they’ve witnessed in their communities around the country. While most of the population of California is now ILLEGAL, the problems, costs, assault to our culture by Mexico is EVERYWHERE. copy and pass it to your friends.
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CALIFORNIA – A STATE FILLED WITH ILLEGALS AND CORRUPT SELF-SERVING POLITICIANS SERVING THEIR CORPORATE RAPIST PAYMASTERS.
“So what about California? The economic well-being of many metropolitan areas in the Golden State has been sinking precipitously since 2006. This year, three California regions--Oakland, Sacramento and San Bernardino-Riverside--have sunk down into the bottom 10 on the large cities list. That's a phenomenon we've never seen before--and never expected to see.” FORBES
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CALIFORNIA IN MELTDOWN: JOBS GO FIRST TO ILLEGALS. MEXICAN GANGS HAVE INFESTED ALL CITIES. THE STATE OF CA PAYS OUT $20 BILLION PER YEAR IN SOCIAL SERVICES TO ILLEGALS. THE STATE HAS THE LARGEST, AND MOST EXPENSIVE PRISON SYSTEM IN THE COUNTRY, HALF THE PRISON POPULATION ARE ILLEGALS FROM MEXICO.
THERE ARE ONLY EIGHT (8) STATES WITH A LARGER POPULATION THAN LOS ANGELES COUNTY, WHERE HALF THE JOBS GO TO ILLEGALS USING STOLEN SOCIAL SECURITY NUMBERS. THIS COUNTY PAYS OUT $600 MILLION DOLLARS A YEAR TO ILLEGALS ON WELFARE, AND HIS MEXICO’S “ANCHOR” BABY BIRTHING CENTER.
BUT WHO PAYS FOR THE MEXICAN OCCUPATION AND EVER EXPANDING WELFARE STATE?
THE MEXICAN TAX-FREE UNDERGROUND ECONOMY IS CALCULATED TO BE $2 BILLION PER YEAR!
THERE HAVE BEEN MORE THAN 2,000 CALIFORNIANS MURDERED BY ILLEGALS THAT FLED BACK OVER THE BORDER TO AVOID PROSECUTION.
THERE IS NOT ONE DEM IN CA THAT IS NOT LA RAZA ENDORSED, AND WORKS CEASELESSLY FOR VARIOUS AMNESTY PLOYS!
FEINSTEIN, BOXER, PELOSI, AND WAXMAN ALL WANT OPEN BORDERS, NO E-VERIFY, CONTINUED OBAMA NON-ENFORCEMENT OF LAWS PROHIBITING THE EMPLOYMENT OF ILLEGALS AS WELL AS NO ENGLISH ONLY, AND NO I.D. TO EASE ILLEGALS INTO VOTING BOOTHS!
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CA – NO LEGAL NEED APPLY!
CA – MEXICO’S WELFARE OFFICE!
CA – MEX GANG STATE!
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OBAMA KNOWS HE WORKS FOR HIS BANKSTER DONORS, WHICH IS WHY EVEN AS A NATION CONTINUES TO SPIRAL DOWN, OBAMA’S BANKSTER DONORS ARE PULLING IN MASSIVE PROFITS, STAGGERING BONUSES, AND CONTINUED UNINTERRUPTED CRIME WAVE!
IT’S A BIT DIFFERENT FOR OTHER SECTORS WHERE OBAMA IS ASSAULTING THE AMERICAN WORKER, TYPICAL ON BEHALF OF JOBS FOR ILLEGALS FIRST!
THE REASON OBAMA BROUGHT IN DALEY WAS TO OPERATE J.P. MORGAN’S INTERESTS FROM THE WHITE HOUSE BY THIS MORGAN BANKSTERS, AND BECAUSE DALEY IS AN ADVOCATE FOR OPEN BORDERS LIKE OBAMA!
“Unfortunately, there's not much in the way of short-term--or perhaps even medium- or long-term--hope for a strong rebound in those places. President Obama seems determined to give the automakers, for whom Michigan is home base, far rougher treatment than what he meted out to ailing companies in the financial sector.”
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FORBES.com
New Geographer
Worst Cities For Jobs
Joel Kotkin, 04.28.09, 12:00 AM ET
One of the saddest tasks in the annual survey of the best places to do business I conduct with Pepperdine University's Michael Shires is examining the cities at the bottom of the list. Yet even in these nether regions there exists considerable diversity: Some places are likely to come back soon, while others have little immediate hope of moving up. (Please also see "Best Cities For Jobs" for further analysis.)
The study is based on job growth in 336 regions--called Metropolitan Statistical Areas by the Bureau of Labor Statistics, which provided the data--across the U.S. Our analysis looked not only at job growth in the last year but also at how employment figures have changed since 1996. This is because we are wary of overemphasizing recent data and strive to give a more complete picture of the potential a region has for job-seekers. (For the complete methodology, click here.)
First let's deal with the perennial losers, the sad sacks of the American economy. Mostly cities in the nation's industrial heartland, these places have ranked toward the bottom of our list for much of the past five years. Eleven of the bottom 16 regions on our list are in two states, Ohio and Michigan. In fact, the Wolverine State alone accounts for bottom four cities: Jackson, Michigan, Detroit, Saginaw and Flint.
In Depth: Worst Big Cities For Jobs
In Depth: Worst Medium-Sized Cities For Jobs
In Depth: Worst Small Cities For Jobs
Unfortunately, there's not much in the way of short-term--or perhaps even medium- or long-term--hope for a strong rebound in those places. President Obama seems determined to give the automakers, for whom Michigan is home base, far rougher treatment than what he meted out to ailing companies in the financial sector.
In addition, new environmental regulations may not help auto production, since it necessitates some carbon-spewing and therefore perhaps unacceptable levels of greenhouse gas emission.
However, not all of Michigan's problems stem from Washington or the marketplace. Many of the locations at the bottom of the list remain inhospitable to business. To be sure, housing is cheap--in Detroit, property values are fast plummeting toward zero--but running a business can be surprisingly expensive in these hard-pressed places.
In fact, according to a recent survey by the Tax Foundation, Ohio has an average tax burden roughly similar to New York, California, Massachusetts and Connecticut. But while the others are comparatively high-income states, Ohio residents no longer enjoy that level of affluence.
Can these places come back? It is un-American to abandon hope, but there needs to be a radical shift in strategy to focus on creating new middle-class jobs. Some Midwestern cities, like Kalamazoo and Indianapolis, have made some successful efforts to diversify their economies, encouraging start-ups and trying to be business-friendly.
But those are exceptions. Cleveland, one of our worst big cities, could spark a renaissance by revamping its port and nearby industrial hinterland. Once the world economy improves, it could re-emerge--building on the existing knowledge and skills of its production- and design-savvy population--as a hub for manufacturing and exports.
But right now, Cleveland does not seem to be pursuing such opportunities. As Purdue's Ed Morrison has pointed out, local leaders there seem to "confuse real estate development with economic development."
So Cleveland will focus on inanities such as convention business and tourism, believing we all fantasize about a week enjoying the sights along Lake Erie. Yet even high-profile buildings like the Rock and Roll Hall of Fame and Museum, completed in 1986, have not transformed a gritty old industrial town into a beacon for the hip and cool.
Old industrial cities like Cleveland are better off focusing on their locational advantages--access to roads, train lines and water routes--while offering a safe, inexpensive and friendly venue for ambitious young families, immigrants and entrepreneurs.
Meanwhile, cities with formerly robust economies--like Reno, Nev., Las Vegas, Orlando, Fla., Tampa, Fla., Fort Lauderdale, Fla., West Palm Beach, Fla., Jacksonville, Fla., and Phoenix--are more likely to rebound. These areas topped our list for much of the 2000s; their success was driven first by surging population and job growth and later by escalating housing prices.
But the collapse of the housing bubble and a drop in large-scale migration from other regions has weakened, often dramatically, these perennial successes. "We could rely on 1,000 people a week moving into the area," notes one longtime official in central Florida. "These people needed services, houses and bought stuff. Now the growth is a 10th of that."
Instead of waiting for the real estate bubble to return, these areas should choose to focus on boosting employment in fields like medical services, business services and light manufacturing. In much of Florida and Nevada, there's also a need to shift away from a reliance on tourism, an industry that pays poorly on average and is always subject to changes in consumer tastes.
We can even be cautiously optimistic about some of these former superstars. After all, observes Phoenix-based economist Elliot Pollack, the existing reasons for moving to Arizona, Nevada or Florida--warm weather, relatively low taxes and generally pro-business governments--have not disappeared. "There's no change in the fundamentals," he argues. "It's a transition. It's ugly, and there's pain, but it's still a cycle that will turn."
Once the economy stabilizes, Pollack says he expects the flow of people and companies from the Northeast and California to Phoenix and other former hot spots will resume, once again lured by inexpensive real estate, better conditions for business and a generally more up-to-date infrastructure.
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The Problem with California
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So what about California? The economic well-being of many metropolitan areas in the Golden State has been sinking precipitously since 2006. This year, three California regions--Oakland, Sacramento and San Bernardino-Riverside--have sunk down into the bottom 10 on the large cities list. That's a phenomenon we've never seen before--and never expected to see.
Like other Sun Belt communities, California suffered disproportionately from the housing bubble's bust, which has devastated both employment in construction-related industries as well as much of the finance sector. But some, like economist Esmael Adibi, director of the Anderson Center for Economic Research at Chapman University, where I teach, thinks a real estate turnaround may be imminent.
Among the first to predict the potential for a real estate bubble back in 2005, these days Adibi is more upbeat, pointing to rising sales of single-family homes, particularly at the lower end of the market. California's inventory of unsold homes is now down to about six months' worth, a figure well below the national average of 9.6 months.
(ILLEGALS STILL POUR OVER OUR OPEN BORDERS AND INTO OUR JOBS AND WELFARE LINES DAILY)
It seems not everyone is ready to abandon the Golden State--but still, recovery in California may prove weaker than in surrounding states. One forecaster, Bill Watkins, even predicts unemployment could reach 15% next year, up from about 11% today. California, most likely, will see only an anemic recovery in 2010 even if growth picks up elsewhere.
Much of the problem lies with the state's notoriously inept government. The enormous budget deficit will almost certainly lead to tax increases, which will fall mostly on the state's vaunted high-income entrepreneurial residents. Stimulus funds won't do much good either, Adibi notes, since "the state is grabbing all of the federal stimulus money" to keep itself afloat.
A draconian regulatory environment also could dim California's prospects for growth. Despite double-digit unemployment, the state seems determined not only to raise taxes but also to tighten its regulatory stranglehold.
This is a stark contrast to what happened in the 1990s during the last deep recession. At that time, leaders from both political parties pulled together to reform the state's regulatory and tax environment. Almost everyone recognized the need to improve the economic climate.
But an even deeper recession, it seems, hardly troubles today's dominant players--public employees, environmental activists and gentry liberals who largely live along the coast. The state has recently passed a draconian Assembly bill aimed to offset global warming by capping greenhouse gas emissions--a measure that seems designed to discourage productive industry.
"This is becoming a horrible place to produce anything," says Watkins, who is executive director of the Economic Forecast Project at the University of California, Santa Barbara.
California's lawyers, though, might stay busy. Attorney General Jerry Brown has threatened to sue anyone who grows their business in unapproved, environment-threatening ways. To be sure, this promise may have relatively little impact on the more affluent, aging coastal communities--but it could wreak havoc on younger, less tony areas in the state's interior. Many of the local economies there still reply on resource-dependent industries like oil, manufacturing and agriculture.
It's sad because California has the capacity to recover more quickly than the rest of the country if the state moderates its spending and stops regulating itself into oblivion. This current round of legislation is so dangerous precisely because it could eviscerate the heart of the economy by slowing down entrepreneurial growth, the state's greatest asset.
Even in hard times, there are people with innovative ideas trying to bring them to market--and not just in Hollywood- and Silicon Valley-based industries but in a broad range of fields, from garments to agriculture, aerospace and processed foods. The desire to increase regulation reflects a peculiar narcissism and arrogance of the state's ruling elites, who believe the genius of San Francisco's venture capitalists and Los Angeles' image-makers alone are enough to spark a powerful recovery.
This is delusional. True, California still has a lead in everything from farm products to films to high-tech manufacturers. But it has been slowly losing ground--to both other states and overseas competitors. CEOs and top management might stay in the Golden State, but they increasingly send outside its borders all jobs that don't require access to the local market, genius scientists or talented entertainers.
"There's a feeling in California that we will come back, no matter what, because we are California," Watkins says. "The leadership is swallowing Panglossian Kool-aid. Some very smart people, a beautiful climate and nice beaches is not enough to guarantee a strong recovery."
Joel Kotkin is a presidential fellow in urban futures at Chapman University. He is executive editor of newgeography.com and writes the weekly New Geographer column for Forbes.
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MEXIFORNIA
IN ANY CALIFORNIA CITY, IT WILL BE ILLEGALS THAT GET JOBS FIRST. IN SILICON VALLEY, IT WILL BE THE IMPORTED CHINESE AND INDIANS THAT WILL GET JOBS FIRST.
WORST BIG CITIES FOR JOBS: HERE’S CALIFORNIA’S SHARE
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No. 10: Riverside-San Bernardino-Ontario, Calif.
The mortgage crisis and housing bust in this populous suburban area south of Los Angeles led to a halt in home building and a subsequent drop in natural resources, mining and construction jobs, which declined 23.6% between 2007 and 2008. Overall employment declined by 6.2% in the last year and 38.5% over the last decade, sinking the Inland Empire into the first major downturn in its recent history. Yet it’s not all negative. Home sales are up, which may mean that this once vibrant area could come back sooner than many expect.
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No. 7: Sacramento-Arden Arcase-Roseville, Calif.
The real estate bust in California's capital and its surrounding areas has stunted job growth. Construction and natural resources jobs fell by 30.4% between 2005 and 2008. The housing crisis is accompanied by ones in the financial services and manufacturing industries, in which jobs declined 14.8% and 12%, respectively, over the last three years. The year between 2007 and 2008 saw a 3.9% overall decline in jobs. Employment in education and health services has been the area's saving grace; jobs in that sector increased 23.5% between 2003 and 2008.
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No. 5: Oakland-Fremont-Hayward, Calif.
The financial services sector of this metropolitan area, across the bay from San Francisco, which includes urban Oakland and the surrounding suburbs, lost 21.1% of its jobs between 2003 and 2008. Construction jobs were hit almost as hard, dropping 18% over the same period. However, the Bay Area, bolstered by colleges in and around San Francisco and Berkeley, saw a 1.6% increase in education and health services jobs last year. But, overall, job losses in this northern California region totaled 3.7% from 2007 to 2008.
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No. 4: Santa Ana-Anaheim-Irvine, Calif.
The fallout from real estate speculation and a longstanding tech boom in this region, which is south of Los Angeles and includes some of the toniest coastal real estate in the nation, has slowed employment to a crawl. Here, between 2005 and 2008, jobs in construction declined 17.8%, and jobs in information declined 10%. Employment in financial services, a field that especially boomed in Irvine, dropped by 22% over the same years. Much of this was tied to mortgage related companies. Overall, the area saw a 4% decline in jobs between 2007 and 2008. Dropping home prices and rising sales suggest a slow recovery could be on the way though.
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CA CONTRIBUTION TO WORST MEDIUM SIZED CITIES FOR JOBS
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No. 10: Santa Rosa-Petaluma, Calif.
"Best of the worst" is a dubious honor. But for the cities of Santa Rosa and Petaluma, home to just under 500,000 people north of San Francisco, the news isn't all bad. Despite cumulative job losses of 4.5% between 2007 and 2008, these communities have seen an 8.2% overall uptick in jobs if you consider data since 1997. The drops are biggest in one predictable sector: the construction sector which saw a double digit decline in jobs, largely from the collapse of the bay area’s housing bubble. Retail and financial services employers also cut workers, with each sector losing about 10% of its jobs.
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CA CONTRIBUTION TO WORST SMALL CITIES FOR JOBS:
No. 7: Redding, Calif.
Partly because of the housing slump affecting many Sun Belt states, between 2005 and 2008 jobs in the natural resources, mining and construction sector contracted by 41%. Overall employment has dropped 10% since 1997. In the last year, Redding also saw double-digit job loss in the wholesale, information and transportation and utilities sectors. While government positions account for 22.8% of all jobs--and their number has been increasing over the last five years--the Redding Record Searchlight has reported that the city may have to lay off 60 workers.
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WORST PLACES IN COUNTRY BY CNBC
1. El Centro, California
Population: 41,241
Lose your job in El Centro and it may be quite some time before you find another one. One in four people here are out of work and the city holds the not-so distinguished honor of having the highest unemployment rate — 27.5 percent — in the country (close behind is Yuma, Ariz., with 27.2 percent unemployment).
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The desert city, which is located in Imperial County just across the border from Mexicali, has a jobless rate triple the national average of 9.5 percent thanks to the seasonal fluctuations of field laborers. Field work is the county's third-largest employment sector after government, transportation and utilities, according to AOL News.
"Its location across the border from a much larger Mexican city means that there is a large floating labor force," Jim Gerber, an economics professor and director of the international business program at San Diego State University, told AOL News.
"The data for Imperial County is skewed by this, such that the layoffs and out-of-work laborers are not actually counted correctly."
Even with the ebb and flow of its working population, things are still pretty bleak in El Centro. Last year, the city's cemetery went into foreclosure.
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6. Los Angeles, California
Population: 3,849,378
If you don't really care about breathing, Los Angeles is a great place. The metro area that stretches from Long Beach to Riverside has the worst ozone pollution in the country, according to the American Lung Association's State of the Air report for 2010. Along with being tops in ozone pollution, L.A. is ranked third in year-round particle pollution, and fourth in short-term particle pollution.
Ozone is the byproduct of pollutants released by cars, chemical plants, refineries, and other sources. It exists naturally in the upper atmosphere of the Earth, but when emitted at ground level, it's considered a harmful outdoor pollutant. Inhaling ozone can cause wheezing, coughing, chest pain, throat irritation, congestion, and can make people more susceptible to respiratory illnesses such as bronchitis and pneumonia, according to the US Environmental Protection Agency. Think about that next time you drive in Los Angeles, which also lays claim the worst traffic in the country.
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Lou Dobbs Tonight Friday, May 16, 2008
Some in Congress are once again trying to push piecemeal immigration reform through the back door. Sen. Diane Feinstein of California attached a farm worker program to the multibillion dollar Iraq war funding bill yesterday which would grant temporary amnesty to 1.3 million farm workers and their families over the next five years.
FORBES:
LOS ANGELES AMONG FORBES’ ‘TOP 10 U.S. CITIES IN FREEFALL’
Forbes has released its list of 'Top 10 U.S. Cities In Freefall', and California has the dubious distinction of appearing thrice. The greater Los Angeles, Riverside and Sacramento areas all made the list, only Florida had more cities represented. In compiling the list, Forbes used six metrics, including the percent the median home price has fallen since its individual peak, how many people were moving in and out of these metros, and percent change in unemployment.
Of California's woes, Forbes writes:
Riverside, Los Angeles and Sacramento are suffering because of the knocks they took after their inflated housing markets began to plummet. Unemployment in the City of Angels has nearly tripled in three years, to 12%. Riverside's unemployment has also ballooned, to 15%. Meanwhile Sacramento saw a 75% drop in new building permits. These are troubling signs for Cali metros, but not surprising. The end of the state's home-price climb triggered more than just a housing slump.
"In California, so many jobs were concentrated in construction," says Michael Fratantoni, vice president of research at the Mortgage Bankers Association, the professional association for real estate financiers. "Jobs building single family homes wound up not being sustainable, and there were a lot of job losses."
The Forbes report comes on the heels of California's most recent jobless report, which put the state's unemployment rate at a record 12.6% for March. However, in what might be an encouraging sign for the region, KPCC reports today that foreclosures in LA County are down 43.5% for the first quarter of 2010 compared to last year.
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LOS ANGELES UNDER MEX OCCUPATION:
Additionally, the county spends $550 million on public safety and nearly $500 million on healthcare for illegal aliens.
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JUDICIAL WATCH.org
County’s Monthly Welfare Tab For Illegal Aliens $52 Million
09/07/2010
As the mainstream media focuses on a study that reveals a sharp decline in the nation’s illegal immigrant population, monthly welfare payments to children of undocumented aliens increased to $52 million in one U.S. county alone.
The hoopla surrounding last week’s news that the annual flow of illegal immigrants into the U.S. dropped by two-thirds in the past decade overlooked an important matter; the cost of educating, incarcerating and medically treating illegal aliens hasn’t decreased along with it, but rather skyrocketed to the tune of tens of billions of dollars annually.
THIS FIGURE DOES NOT INCLUDE EXTRA MILLIONS PAID FOR ANCHOR BABIES
Those figures don’t even include the extra millions that local municipalities dish out on welfare payments to the U.S.-born children of illegal immigrants, commonly known as anchor babies. In Los Angeles County alone that figure increased by nearly $4 million in the last year, sticking taxpayers with a whopping $52 million tab to provide illegal immigrants’ offspring with food stamps and other welfare benefits for just one month.
That means the nation’s most populous county, in the midst of a dire financial crisis, will spend more than $600 million this year to provide families headed by illegal immigrants with welfare benefits. In each of the past two years Los Angeles County taxpayers have spent about half a billion dollars just to cover the welfare and food-stamp costs of illegal immigrants. Additionally, the county spends $550 million on public safety and nearly $500 million on healthcare for illegal aliens.
About a quarter of the county’s welfare and food stamp issuances go to parents who reside in the United States illegally and collect benefits for their anchor babies, according to the figures from L.A. County’s Department of Social Services. Nationwide, Americans pay around $22 billion annually to provide illegal immigrants with welfare perks that include food assistance programs such as free school lunches in public schools, food stamps and a nutritional program (known as WIC) for low-income women and their children.
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Lou Dobbs Tonight
Monday, February 11, 2008
In California, League of United Latin American Citizens has adopted a resolution to declare "California Del Norte" a sanctuary zone for immigrants. The declaration urges the Mexican government to invoke its rights under the Treaty of Guadalupe Hidalgo "to seek third nation neutral arbitration of disputes concerning immigration laws and their enforcement." We’ll have the story.
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latimes.com
Opinion
California must stem the flow of illegal immigrants
The state should go after employers who hire them, curb taxpayer-funded benefits, deploy the National Guard to help the feds at the border and penalize 'sanctuary' cities.
Illegal immigration is another matter entirely. With the state budget in tatters, millions of residents out of work and a state prison system strained by massive overcrowding, California simply cannot continue to ignore the strain that illegal immigration puts on our budget and economy. Illegal aliens cost taxpayers in our state billions of dollars each year. As economist Philip J. Romero concluded in a 2007 study, "illegal immigrants impose a 'tax' on legal California residents in the tens of billions of dollars."
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MEXICANOCCUPATION.blogspot.com
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“Through love of having children, we are going to take over.” AUGUSTIN CEBADA, BROWN BERETS, THE LA RAZA FASCIST PARTY
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The National Council of La Raza (NCLR) is not only one of the wealthiest and most politically powerful militant organizations in the country, it is also notoriously racist and subversive. The group's name, "La Raza," means "The Race," by which they are referring to ethnic Mexicans, or more broadly to "hispanics" or "latinos." And it is quite clear from their decades of vitriolic rhetoric — both spoken and written — that the La Raza activists are trying to engender not only race consciousness amongst hispanic U.S. citizens and Mexican migrants, but also racial militancy and animosity toward "Gringo America."
NCLR: Agents for the Government of Mexico?
Especially troubling is NCLR's leading role in the Fundacion Solidaridad Mexicano Americana (Foundation for Mexican-American Solidarity, FSMA), an organization founded and funded by the government of Mexico and directed by the Mexican Ministry of Foreign Affairs and Ministry of Public Education. Both of these ministries have been engaged in efforts aimed at demanding full political rights for illegal aliens in the U.S. and indoctrinating America's Hispanic population in radical, racist La Raza ideology.
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HEARD ENGLISH TODAY?
1 IN 5 BIRTHS IN LOS ANGELS ARE BY ILLEGALS. THAT DOES NOT COUNT THE NUMBER OF HISPANIC BIRTHS THAT ARE LEGAL! A CHILD BORN IN OUR BORDERS FROM ILLEGALS FROM MEXICO IS STILL A MEX CITIZEN!
HERE’S THE PICTURE IF WE DON’T END THE MEX INVASION:
LOS ANGELES TIMES
60 million Californians by mid-century
Riverside will become the second most populous county behind Los Angeles and Latinos the dominant ethnic group, study says. By Maria L. La Ganga and Sara LinTimes Staff Writers
July 10, 2007
Over the next half-century, California's population will explode by nearly 75%, and Riverside will surpass its bigger neighbors to become the second most populous county after Los Angeles, according to state Department of Finance projections released Monday. California will near the 60-million mark in 2050, the study found, raising questions about how the state will look and function and where all the people and their cars will go. The latest numbers figure the state will be much more crowded than earlier estimates (by nearly 5 million) and that it will take a bit longer than previously thought for Latinos to become the majority of California's population: 2042, not 2038.The figures show that the majority of California's growth will be in the Latino population, said Dowell Myers, a professor of urban planning and demography at USC, adding that "68% of the growth this decade will be Latino, 75% next and 80% after that."That should be a wake-up call for voting Californians, Myers said, pointing out a critical disparity. Though the state's growth is young and Latino, the majority of voters will be older and white — at least for the next decade."The future of the state is Latino growth," Myers said. "We'd sure better invest in them and get them up to speed. Older white voters don't see it that way. They don't realize that someone has to replace them in the work force, pay for their benefits and buy their house."
Is The American Dreams DEAD? Not According To Obama For Illegals! VIVA LA RECONQUISTA!
MEXICANOCCUPATION.blogspot.com
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Go to http://www.MEXICANOCCUPATION.blogspot.com and read articles and comments from other Americans on what they’ve witnessed in their communities around the country. While most of the population of California is now ILLEGAL, the problems, costs, assault to our culture by Mexico is EVERYWHERE. copy and pass it to your friends.
THERE IS A DIRECT LINK BETWEEN THE BANKSTERS, LA RAZA INVASION, LOSS OF JOBS, AND FORECLOSURES! OBAMA IS OWNED BY THIS BANKSTERS, AND WORKS FOR LA RAZA!
OBAMA’S BANKSTER DONORS DOIN’ GOOD! PROFITS UP! FORECLOSURES UP! BANK NO REGULATION GUARANTEED! BAILOUTS FOR BUYOUTS…. And not a single bankster donor in prison!
BUSH WAR PROFITEER, AND BANKSTER SLUT, DIANNE FEINSTEIN HAS TAKEN HUGE BRIBES TO DO THE BANKSTERS’ BIDDING! RIGHT NEXT TO HER FAT ASS WAS BARBARA BOXER!
LA RAZA DONORS, WELLS FARGO, MADE MASSIVE PROFITS (WE’RE NOW DOUBLING SO THE BANKSTERS CAN BUY OTHER BANKSTERS) OFF CRAPO LOANS TO ILLEGALS. FEINSTEIN WORKS HARD FOR OPEN BORDERS, MORE ILLEGALS, NO E-VERIFY AND INSTANT NO AMNESTY, LIKE OBAMA.
IN PART TO KEEP THE SUPPLY OF BANKSTER VICTIMS COMING, BUT ALSO TO KEEP HER BIG AG BIZ DONOR HAPPY WHO DEPEND ON THE MISERABLE WAGES THEY PAY TO ILLEGAL FARM WORKERS, STATISTICALLY ONE-THIRD OF WHICH WILL END UP ON WELFARE.
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“Top subprime lenders included Wells Fargo; Countrywide, purchased by Bank of America; Washington Mutual, now part of JPMorgan Chase; CitiMortgage, part of Citigroup; First Franklin (now closed), purchased by Merrill Lynch, which was purchased by Bank of America; ChaseHome Finance, JPMorgan Chase; Ownit, partly owned by Merrill Lynch, which was later purchased by Bank of America; and EMC, part of Bear Stearns, which was purchased by JPMorgan Chase. Most of the rest depended on massive loans from Wall Street. Many of these lenders were sued by states for fraud and paid billions in settlements.”
WHAT DID THE BANKSTERS KNOW ABOUT OUR ACTOR OBAMA THAT WE DIDN’T KNOW?
Records show that four out of Obama's top five contributors are employees of financial industry giants - Goldman Sachs ($571,330), UBS AG ($364,806), JPMorgan Chase ($362,207) and Citigroup ($358,054).
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“Obama's rhetoric covered the whole financial industry, but the key changes will affect only a few high-profile players, including JPMorgan Chase & Co., while sparing investment banks like Goldman Sachs Group Inc.”
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Lou Dobbs Tonight
Thursday, July 9, 2009
And Harvard economics professor JEFFREY MIRON will weigh in on the state of the U.S. economy—and why the only plausible argument for bailing out banks crumbles on close examination.
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"There is a populist and conservative revolt against Wall Street and financial elites, Congress and government," Democratic pollster Stanley Greenberg warned in an analysis this week. "Democrats and President Obama are seen as more interested in bailing out Wall Street than helping Main Street."
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THE AMERICAN DREAM IS ALIVE AND WELL! IT’S SIMPLY RESERVED FOR BANKSTER CRIMINALS! THAT IS OBAMAnation!
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Bob Herbert / Syndicated columnist
For millions of Americans, it's twilight in America
Long-term joblessness is a recipe for societal destabilization, writes columnist Bob Herbert. It should not be tolerated in a country with as much wealth as the United States. It's destructive, and it's wrong.
Bob Herbert
Syndicated columnist
The Ronald Reagan crowd loved to talk about morning in America. For millions of individuals and families, perhaps the majority, it's more like twilight — with nighttime coming on fast.
Look out the window. More and more Americans are being left behind in an economy that is being divided ever more starkly between the haves and the have nots. Not only are millions of people jobless and millions more underemployed, but more and more of the so-called fringe benefits and public services that help make life livable, or even bearable, in a modern society are being put to the torch.
Employer-based pensions, paid vacations, health benefits and the like are going the way of phone booths and VCRs. As poverty increases and reliable employment becomes less and less the norm, the dwindling number of workers with any sort of job security or guaranteed pensions (think teachers and other modestly compensated public employees) are being viewed with increasing contempt. How dare they enjoy a modicum of economic comfort?
It turns out that a lot of those jobs were never so secure, after all. As the Center on Budget and Policy Priorities tells us:
"At least 44 states and the District of Columbia have reduced overall wages paid to state workers by laying off workers, requiring them to take unpaid leave (furloughs), freezing hew hires, or similar actions. State and local governments have eliminated 407,000 jobs since August 2008, federal data show."
We have not faced up to the scale of the economic crisis that still confronts the United States.
Standards of living for the people on the wrong side of the economic divide are being ratcheted lower and will remain that way for many years to come. Forget the fairy tales being spun by politicians in both parties — that somehow they can impose service cuts that are drastic enough to bring federal and local budgets into balance while at the same time developing economic growth strong enough to support a robust middle class. It would take a Bernie Madoff to do that.
In the real world, schools and libraries are being closed and other educational services are being curtailed. Police officers are being fired. Access to health services for poor families is being restricted. "At least 29 states and the District of Columbia," according to the budget center, "are cutting medical, rehabilitative, home care, or other services needed by low-income people who are elderly or have disabilities, or are significantly increasing the cost of these services."
For a variety of reasons, there are not enough tax revenues being generated to pay for the basic public services that one would expect in an advanced country like the U.S. The rich are not shouldering their fair share of the tax burden. The wars in Afghanistan and Iraq continue to consume an insane amount of revenue. And there are not enough jobs available at decent enough pay to ease some of the demand for public services while at the same time increasing the amount of taxes paid by ordinary workers.
The U.S. cannot cut its way out of this crisis. Instead of trying to figure out how to keep 4-year-olds out of pre-kindergarten classes, or how to withhold lifesaving treatments from Medicaid recipients, or how to cheat the elderly out of their Social Security, the nation's leaders should be trying seriously to figure out what to do about the future of the American work force.
Enormous numbers of workers are in grave danger of being left behind permanently. Businesses have figured out how to prosper without putting the unemployed back to work in jobs that pay well and offer decent benefits.
Corporate profits and the stock markets are way up. Businesses are sitting atop mountains of cash. Put people back to work? Forget about it. Has anyone bothered to notice that much of those profits are the result of aggressive payroll-cutting — companies making do with fewer, less-well-paid and harder-working employees?
For U.S. corporations, the action is increasingly elsewhere. Their interests are not the same as those of workers, or the country as a whole. As Harold Meyerson put it in The American Prospect: "Our corporations don't need us anymore. Half their revenues come from abroad. Their products, increasingly, come from abroad as well."
U.S. workers are in a world of hurt. Anyone who thinks that politicians can improve this sorry state of affairs by hacking away at Social Security, Medicare and the public schools are great candidates for involuntary commitment.
New ideas on a grand scale are needed. The U.S. can't thrive with so many of its citizens condemned to shrunken standards of living because they can't find adequate employment. Long-term joblessness is a recipe for societal destabilization. It should not be tolerated in a country with as much wealth as the United States. It's destructive, and it's wrong.
Bob Herbert is a regular columnist for The New York Times.
August 21, 2010
Janet Tavakoli.President, Tavakoli Structured Finance
August 15, 2010
How to Thwart the Assassins of the American Dream
Arianna Huffington's new book, Third World America: How Our Politicians are Abandoning the Middle Class and Betraying the American Dream, paints a grim picture of the State of the Union:
"Every day, Americans, faced with layoffs and tough economic times, are forced to use their credit cards to pay for essentials such as food, housing, and medical care -- the costs of which continue to escalate. But, as their debt rises, they find it harder to keep up with their payments. When they don't, banks, trying to offset losses in other areas, turn around, hike interest rates, and impose all manner of fees and penalties..."
Third World America, (P. 77)
Our mediocre grammar school and high school educational system continues its downward slide. The Great Recession is squeezing school budgets. We are failing our children, our most important resource of all.
In 2009, the American Society of Civil Engineers gave the nation's infrastructure a near failing D rating:
"Flip on a light switch, and you are tapping into a seriously overtaxed electrical grid. Go to the sink, and your tap water may be coming to you through pipes built during the Civil War. Take a drive, and pass over pothole-filled roads and cross-if-you-dare bridges. The evidence of decay is all around us." (P. 95)
The over-hyped American Recovery and Reinvestment Act of 2009 earmarked only $72 billion of the $787 billion appropriation of taxpayer dollars to projects to improve the country's infrastructure.
Meanwhile, multi-national corporations avoid taxes, sheltering $700 billion in foreign earnings to end up with a measly $16 billion (2.3%) tax bill. GM is among those companies, yet it took almost a half billion dollars in bailout loans. Boeing and KBR Halliburton are among the defense contractors that avoid taxes, while enjoying government contracts worth tens of billions.
Banks (not Fannie and Freddie) Crippled the Housing Market
Fannie and Freddie do not make loans. They purchase mortgage loans and earn fees for guaranteeing payments on the loans. According to the Mortgage Bankers Association, in 2006, Fannie and Freddie accounted for 33% of total mortgage backed securities issuance. In the first half of 2010, they accounted for around 64% of new issuance. They were forced to pick up the slack and buy more when Wall Street's private label securitization Ponzi scheme blew up.
Fannie and Freddie are Wall Street's dumping ground. They would have had problems on their own, but their problems would not have been close to their current scale, and they did not create the housing bubble.
Congress twisted arms to make Fannie and Freddie buy more than $300 billion of phony "AAA" rated mortgage-backed securities from banks, not counting loans that didn't meet their stated requirements. Today Fannie and Freddie want banks to repurchase tens of billions of these loans, since they fail to meet representations and warranties, and the banks are fighting this obligation.
Top subprime lenders included Wells Fargo; Countrywide, purchased by Bank of America; Washington Mutual, now part of JPMorgan Chase; CitiMortgage, part of Citigroup; First Franklin (now closed), purchased by Merrill Lynch, which was purchased by Bank of America; ChaseHome Finance, JPMorgan Chase; Ownit, partly owned by Merrill Lynch, which was later purchased by Bank of America; and EMC, part of Bear Stearns, which was purchased by JPMorgan Chase. Most of the rest depended on massive loans from Wall Street. Many of these lenders were sued by states for fraud and paid billions in settlements.
According to Inside Mortgage Finance, the top mortgage backed securities underwriters during 2005-2006, only two of the subprime abuse years, included now defunct Lehman Brothers ($106 billion); RBS Greenwich Capital ($99 billion); Countrywide Securities, which is now part of Bank of America ($74 billion); Morgan Stanley ($74 billion);Credit Suisse First Boston ($73 billion); Merrill Lynch ($67 billion); Bear Stearns, which is now part of JPMorgan Chase ($61 billion); and Goldman Sachs ($53 billion).
The above doesn't even include the credit derivatives, collateralized debt obligations (CDOs), and structured investment vehicles (SIVs) that amplified losses. Yet, Arianna notes how America imploded while bankers soared:
"Someone like [Robert] Rubin is able to wreak destruction, collect an ungodly profit, then go along his merry way, pontificating about how 'markets have an inherent and inevitable tendency -- probably rooted in human nature -- to go to excess, both on the upside and the downside.' This from the man who, as Bill Clinton's Treasury secretary, was vociferous in opposing the regulation of derivatives -- a key factor in the current economic crisis -- and who lobbied the Treasury during the Bush years to prevent the downgrading of the credit rating of Enron -- a debtor of Citigroup." (P. 150)
Robert Rubin operated an economic wrecking-ball from prestigious positions of influence including former co-chairman of Goldman Sachs, director of the National Economic Council, former Treasury Secretary under President Bill Clinton, board member and senior "risk wizard" counselor at Citigroup, member of the President's Advisory Committee for Trade Negotiations, member of the SEC's Oversight and Financial Services Advisory Committee, unofficial econmic adviser to President Obama, and co-chairman of the Council on Foreign Relations.
Rubin is just one example of the many bankers, who helped destroy the economy while creating a connected financial oligarchy.
Hide Billions of Losses, Take Bailouts, Collect Billions, Skip Jail
Instead of apologizing for screwing up, the banks demanded the Great Bailout. At the start of the meltdown, the IMF and the U.S. administration estimated losses of $2 to $2.5 trillion. Unemployment and the losses are now shockingly worse. What was merely a recession escalated into the Great Recession.
How big are the actual losses? No one knows.
After destroying the value of major banks, culprits used their enormous political influence -- funded with taxpayer dollars -- to get Congress to force the accounting board to change accounting rules (as of April 2009) so banks don't have to recognize losses until they sell the assets.
According to William K. Black, after the much tinier S&L crisis, there were over 1,000 successful felony prosecutions, several thousand successful enforcement actions, and roughly 1,000 successful civil actions.
This time Congress gave us the Great Cover-up. Bank officers dodged jail time and collected billions in bonuses. As one of my South American friends observes, he's witnessed this third-world corruption before, and this time it's in English.
Banks Stall the Recovery and Prolong the Great Recession
Unemployment marched upward, delinquencies soared, and banks stalled foreclosures. The longer banks delay foreclosures and sales, the longer they can avoid acknowledging losses. Phony accounting and zero cost funding from taxpayers created an illusion of recovery.
Stalling helps banks while they pressure Congress to bail out failed mortgages with taxpayer dollars. Instead of working out mortgages with homeowners, they can wait for a government program to buyout or subsidize their failing loans. The markets aren't recovering, because banks own colossal chunks of mystery-meat assets.
It's a black hole of debt. If banks were forced to price these assets at market values and sell them, the market would clear, and the market would make a faster recovery. When Japan did this, it stalled its economy for twenty years, and it still hasn't recovered.
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Go to http://www.MEXICANOCCUPATION.blogspot.com and read articles and comments from other Americans on what they’ve witnessed in their communities around the country. While most of the population of California is now ILLEGAL, the problems, costs, assault to our culture by Mexico is EVERYWHERE. copy and pass it to your friends.
THERE IS A DIRECT LINK BETWEEN THE BANKSTERS, LA RAZA INVASION, LOSS OF JOBS, AND FORECLOSURES! OBAMA IS OWNED BY THIS BANKSTERS, AND WORKS FOR LA RAZA!
OBAMA’S BANKSTER DONORS DOIN’ GOOD! PROFITS UP! FORECLOSURES UP! BANK NO REGULATION GUARANTEED! BAILOUTS FOR BUYOUTS…. And not a single bankster donor in prison!
BUSH WAR PROFITEER, AND BANKSTER SLUT, DIANNE FEINSTEIN HAS TAKEN HUGE BRIBES TO DO THE BANKSTERS’ BIDDING! RIGHT NEXT TO HER FAT ASS WAS BARBARA BOXER!
LA RAZA DONORS, WELLS FARGO, MADE MASSIVE PROFITS (WE’RE NOW DOUBLING SO THE BANKSTERS CAN BUY OTHER BANKSTERS) OFF CRAPO LOANS TO ILLEGALS. FEINSTEIN WORKS HARD FOR OPEN BORDERS, MORE ILLEGALS, NO E-VERIFY AND INSTANT NO AMNESTY, LIKE OBAMA.
IN PART TO KEEP THE SUPPLY OF BANKSTER VICTIMS COMING, BUT ALSO TO KEEP HER BIG AG BIZ DONOR HAPPY WHO DEPEND ON THE MISERABLE WAGES THEY PAY TO ILLEGAL FARM WORKERS, STATISTICALLY ONE-THIRD OF WHICH WILL END UP ON WELFARE.
*
“Top subprime lenders included Wells Fargo; Countrywide, purchased by Bank of America; Washington Mutual, now part of JPMorgan Chase; CitiMortgage, part of Citigroup; First Franklin (now closed), purchased by Merrill Lynch, which was purchased by Bank of America; ChaseHome Finance, JPMorgan Chase; Ownit, partly owned by Merrill Lynch, which was later purchased by Bank of America; and EMC, part of Bear Stearns, which was purchased by JPMorgan Chase. Most of the rest depended on massive loans from Wall Street. Many of these lenders were sued by states for fraud and paid billions in settlements.”
WHAT DID THE BANKSTERS KNOW ABOUT OUR ACTOR OBAMA THAT WE DIDN’T KNOW?
Records show that four out of Obama's top five contributors are employees of financial industry giants - Goldman Sachs ($571,330), UBS AG ($364,806), JPMorgan Chase ($362,207) and Citigroup ($358,054).
*
“Obama's rhetoric covered the whole financial industry, but the key changes will affect only a few high-profile players, including JPMorgan Chase & Co., while sparing investment banks like Goldman Sachs Group Inc.”
*
Lou Dobbs Tonight
Thursday, July 9, 2009
And Harvard economics professor JEFFREY MIRON will weigh in on the state of the U.S. economy—and why the only plausible argument for bailing out banks crumbles on close examination.
*
"There is a populist and conservative revolt against Wall Street and financial elites, Congress and government," Democratic pollster Stanley Greenberg warned in an analysis this week. "Democrats and President Obama are seen as more interested in bailing out Wall Street than helping Main Street."
*
THE AMERICAN DREAM IS ALIVE AND WELL! IT’S SIMPLY RESERVED FOR BANKSTER CRIMINALS! THAT IS OBAMAnation!
*
Bob Herbert / Syndicated columnist
For millions of Americans, it's twilight in America
Long-term joblessness is a recipe for societal destabilization, writes columnist Bob Herbert. It should not be tolerated in a country with as much wealth as the United States. It's destructive, and it's wrong.
Bob Herbert
Syndicated columnist
The Ronald Reagan crowd loved to talk about morning in America. For millions of individuals and families, perhaps the majority, it's more like twilight — with nighttime coming on fast.
Look out the window. More and more Americans are being left behind in an economy that is being divided ever more starkly between the haves and the have nots. Not only are millions of people jobless and millions more underemployed, but more and more of the so-called fringe benefits and public services that help make life livable, or even bearable, in a modern society are being put to the torch.
Employer-based pensions, paid vacations, health benefits and the like are going the way of phone booths and VCRs. As poverty increases and reliable employment becomes less and less the norm, the dwindling number of workers with any sort of job security or guaranteed pensions (think teachers and other modestly compensated public employees) are being viewed with increasing contempt. How dare they enjoy a modicum of economic comfort?
It turns out that a lot of those jobs were never so secure, after all. As the Center on Budget and Policy Priorities tells us:
"At least 44 states and the District of Columbia have reduced overall wages paid to state workers by laying off workers, requiring them to take unpaid leave (furloughs), freezing hew hires, or similar actions. State and local governments have eliminated 407,000 jobs since August 2008, federal data show."
We have not faced up to the scale of the economic crisis that still confronts the United States.
Standards of living for the people on the wrong side of the economic divide are being ratcheted lower and will remain that way for many years to come. Forget the fairy tales being spun by politicians in both parties — that somehow they can impose service cuts that are drastic enough to bring federal and local budgets into balance while at the same time developing economic growth strong enough to support a robust middle class. It would take a Bernie Madoff to do that.
In the real world, schools and libraries are being closed and other educational services are being curtailed. Police officers are being fired. Access to health services for poor families is being restricted. "At least 29 states and the District of Columbia," according to the budget center, "are cutting medical, rehabilitative, home care, or other services needed by low-income people who are elderly or have disabilities, or are significantly increasing the cost of these services."
For a variety of reasons, there are not enough tax revenues being generated to pay for the basic public services that one would expect in an advanced country like the U.S. The rich are not shouldering their fair share of the tax burden. The wars in Afghanistan and Iraq continue to consume an insane amount of revenue. And there are not enough jobs available at decent enough pay to ease some of the demand for public services while at the same time increasing the amount of taxes paid by ordinary workers.
The U.S. cannot cut its way out of this crisis. Instead of trying to figure out how to keep 4-year-olds out of pre-kindergarten classes, or how to withhold lifesaving treatments from Medicaid recipients, or how to cheat the elderly out of their Social Security, the nation's leaders should be trying seriously to figure out what to do about the future of the American work force.
Enormous numbers of workers are in grave danger of being left behind permanently. Businesses have figured out how to prosper without putting the unemployed back to work in jobs that pay well and offer decent benefits.
Corporate profits and the stock markets are way up. Businesses are sitting atop mountains of cash. Put people back to work? Forget about it. Has anyone bothered to notice that much of those profits are the result of aggressive payroll-cutting — companies making do with fewer, less-well-paid and harder-working employees?
For U.S. corporations, the action is increasingly elsewhere. Their interests are not the same as those of workers, or the country as a whole. As Harold Meyerson put it in The American Prospect: "Our corporations don't need us anymore. Half their revenues come from abroad. Their products, increasingly, come from abroad as well."
U.S. workers are in a world of hurt. Anyone who thinks that politicians can improve this sorry state of affairs by hacking away at Social Security, Medicare and the public schools are great candidates for involuntary commitment.
New ideas on a grand scale are needed. The U.S. can't thrive with so many of its citizens condemned to shrunken standards of living because they can't find adequate employment. Long-term joblessness is a recipe for societal destabilization. It should not be tolerated in a country with as much wealth as the United States. It's destructive, and it's wrong.
Bob Herbert is a regular columnist for The New York Times.
August 21, 2010
Janet Tavakoli.President, Tavakoli Structured Finance
August 15, 2010
How to Thwart the Assassins of the American Dream
Arianna Huffington's new book, Third World America: How Our Politicians are Abandoning the Middle Class and Betraying the American Dream, paints a grim picture of the State of the Union:
"Every day, Americans, faced with layoffs and tough economic times, are forced to use their credit cards to pay for essentials such as food, housing, and medical care -- the costs of which continue to escalate. But, as their debt rises, they find it harder to keep up with their payments. When they don't, banks, trying to offset losses in other areas, turn around, hike interest rates, and impose all manner of fees and penalties..."
Third World America, (P. 77)
Our mediocre grammar school and high school educational system continues its downward slide. The Great Recession is squeezing school budgets. We are failing our children, our most important resource of all.
In 2009, the American Society of Civil Engineers gave the nation's infrastructure a near failing D rating:
"Flip on a light switch, and you are tapping into a seriously overtaxed electrical grid. Go to the sink, and your tap water may be coming to you through pipes built during the Civil War. Take a drive, and pass over pothole-filled roads and cross-if-you-dare bridges. The evidence of decay is all around us." (P. 95)
The over-hyped American Recovery and Reinvestment Act of 2009 earmarked only $72 billion of the $787 billion appropriation of taxpayer dollars to projects to improve the country's infrastructure.
Meanwhile, multi-national corporations avoid taxes, sheltering $700 billion in foreign earnings to end up with a measly $16 billion (2.3%) tax bill. GM is among those companies, yet it took almost a half billion dollars in bailout loans. Boeing and KBR Halliburton are among the defense contractors that avoid taxes, while enjoying government contracts worth tens of billions.
Banks (not Fannie and Freddie) Crippled the Housing Market
Fannie and Freddie do not make loans. They purchase mortgage loans and earn fees for guaranteeing payments on the loans. According to the Mortgage Bankers Association, in 2006, Fannie and Freddie accounted for 33% of total mortgage backed securities issuance. In the first half of 2010, they accounted for around 64% of new issuance. They were forced to pick up the slack and buy more when Wall Street's private label securitization Ponzi scheme blew up.
Fannie and Freddie are Wall Street's dumping ground. They would have had problems on their own, but their problems would not have been close to their current scale, and they did not create the housing bubble.
Congress twisted arms to make Fannie and Freddie buy more than $300 billion of phony "AAA" rated mortgage-backed securities from banks, not counting loans that didn't meet their stated requirements. Today Fannie and Freddie want banks to repurchase tens of billions of these loans, since they fail to meet representations and warranties, and the banks are fighting this obligation.
Top subprime lenders included Wells Fargo; Countrywide, purchased by Bank of America; Washington Mutual, now part of JPMorgan Chase; CitiMortgage, part of Citigroup; First Franklin (now closed), purchased by Merrill Lynch, which was purchased by Bank of America; ChaseHome Finance, JPMorgan Chase; Ownit, partly owned by Merrill Lynch, which was later purchased by Bank of America; and EMC, part of Bear Stearns, which was purchased by JPMorgan Chase. Most of the rest depended on massive loans from Wall Street. Many of these lenders were sued by states for fraud and paid billions in settlements.
According to Inside Mortgage Finance, the top mortgage backed securities underwriters during 2005-2006, only two of the subprime abuse years, included now defunct Lehman Brothers ($106 billion); RBS Greenwich Capital ($99 billion); Countrywide Securities, which is now part of Bank of America ($74 billion); Morgan Stanley ($74 billion);Credit Suisse First Boston ($73 billion); Merrill Lynch ($67 billion); Bear Stearns, which is now part of JPMorgan Chase ($61 billion); and Goldman Sachs ($53 billion).
The above doesn't even include the credit derivatives, collateralized debt obligations (CDOs), and structured investment vehicles (SIVs) that amplified losses. Yet, Arianna notes how America imploded while bankers soared:
"Someone like [Robert] Rubin is able to wreak destruction, collect an ungodly profit, then go along his merry way, pontificating about how 'markets have an inherent and inevitable tendency -- probably rooted in human nature -- to go to excess, both on the upside and the downside.' This from the man who, as Bill Clinton's Treasury secretary, was vociferous in opposing the regulation of derivatives -- a key factor in the current economic crisis -- and who lobbied the Treasury during the Bush years to prevent the downgrading of the credit rating of Enron -- a debtor of Citigroup." (P. 150)
Robert Rubin operated an economic wrecking-ball from prestigious positions of influence including former co-chairman of Goldman Sachs, director of the National Economic Council, former Treasury Secretary under President Bill Clinton, board member and senior "risk wizard" counselor at Citigroup, member of the President's Advisory Committee for Trade Negotiations, member of the SEC's Oversight and Financial Services Advisory Committee, unofficial econmic adviser to President Obama, and co-chairman of the Council on Foreign Relations.
Rubin is just one example of the many bankers, who helped destroy the economy while creating a connected financial oligarchy.
Hide Billions of Losses, Take Bailouts, Collect Billions, Skip Jail
Instead of apologizing for screwing up, the banks demanded the Great Bailout. At the start of the meltdown, the IMF and the U.S. administration estimated losses of $2 to $2.5 trillion. Unemployment and the losses are now shockingly worse. What was merely a recession escalated into the Great Recession.
How big are the actual losses? No one knows.
After destroying the value of major banks, culprits used their enormous political influence -- funded with taxpayer dollars -- to get Congress to force the accounting board to change accounting rules (as of April 2009) so banks don't have to recognize losses until they sell the assets.
According to William K. Black, after the much tinier S&L crisis, there were over 1,000 successful felony prosecutions, several thousand successful enforcement actions, and roughly 1,000 successful civil actions.
This time Congress gave us the Great Cover-up. Bank officers dodged jail time and collected billions in bonuses. As one of my South American friends observes, he's witnessed this third-world corruption before, and this time it's in English.
Banks Stall the Recovery and Prolong the Great Recession
Unemployment marched upward, delinquencies soared, and banks stalled foreclosures. The longer banks delay foreclosures and sales, the longer they can avoid acknowledging losses. Phony accounting and zero cost funding from taxpayers created an illusion of recovery.
Stalling helps banks while they pressure Congress to bail out failed mortgages with taxpayer dollars. Instead of working out mortgages with homeowners, they can wait for a government program to buyout or subsidize their failing loans. The markets aren't recovering, because banks own colossal chunks of mystery-meat assets.
It's a black hole of debt. If banks were forced to price these assets at market values and sell them, the market would clear, and the market would make a faster recovery. When Japan did this, it stalled its economy for twenty years, and it still hasn't recovered.
*
OBAMA PROMISES BAHRAIN DICTATORS: I'll Kiss Your Muslim Ass (almost as bad) As I Do My Saudis Bed Partners!
Nicholas D. Kristof / Syndicated Columnist
Protests in Bahrain: a clash of U.S. interests and values
America has important interests at stake in Bahrain — but also important values, writes columnist Nicholas D. Kristof, who hopes our cozy relations with those in power won't dull our appreciation that history is more likely to side with protesters being shot with rubber bullets than with the regimes doing the shooting.
By Nicholas D. Kristof
Syndicated columnist
Related
MANAMA, Bahrain — The gleaming banking center of Bahrain, one of those family-run autocratic Arab states that count as U.S. allies, has become the latest reminder that authoritarian regimes are slow learners.
Bahrain is another Middle East domino wobbled by an angry youth — and it has struck back with volleys of tear gas, rubber bullets and even buckshot at completely peaceful protesters.
In the early-morning hours Thursday here in the Bahrain capital, it used deadly force to clear the throngs of pro-democracy protesters who had turned Pearl Square in the center of the city into a local version of Tahrir Square in Cairo. This was the last spasm of brutality from a regime that has handled protests with an exceptionally heavy hand — and like the previous crackdowns, this will further undermine the legitimacy of the government.
"Egypt has infected Bahrain," a young businessman, Husain, explained to me as he trudged with a vast protest march snaking through the capital, Manama. Husain (I'm omitting some last names to protect those involved) said that Tunisia and Egypt awakened a sense of possibility inside him — and that his resolve only grew when Bahrain's riot police first attacked peaceful protesters.
When protesters held a funeral march for the first man killed by police, the authorities here then opened fire on the mourners, killing another person.
"I was scared to participate," Husain admitted. But he was so enraged that he decided that he couldn't stay home any longer. So he became one of the countless thousands of pro-democracy protesters demanding far-reaching change.
At first the protesters just wanted the release of political prisoners, an end to torture and less concentration of power in the al-Khalifa family that controls the country. But, now, after the violence against peaceful protesters, the crowds increasingly are calling for the overthrow of the al-Khalifa family. Many would accept a British-style constitutional monarchy in which King Hamad, one of the al-Khalifas, would reign without power. But an increasing number are calling for the ouster of the king himself.
King Hamad gave a speech regretting the deaths of demonstrators, and he temporarily called off the police. By dispatching the riot police early Thursday morning, King Hamad underscored his vulnerability and his moral bankruptcy.
All of this puts the United States in a bind. Bahrain is a critical United States ally because it is home to the American Navy's Fifth Fleet, and Washington has close relations with the al-Khalifa family. What's more, in some ways Bahrain was a model for the region. It gives women and minorities a far greater role than Saudi Arabia next door, it has achieved near universal literacy for women as well as men, and it has introduced some genuine democratic reforms. Of the 40 members of the (not powerful) Lower House of Parliament, 18 belong to an opposition party.
Somewhat cruelly, on Wednesday I asked the foreign minister, Sheik Khalid Ahmed al-Khalifa, if he doesn't owe his position to his family. He acknowledged the point but noted that Bahrain is changing and added that some day the country will have a foreign minister who is not a Khalifa. "It's an evolving process," he insisted, and he emphasized that Bahrain should be seen through the prism of its regional peer group. "Bahrain is in the Arabian gulf," he noted. "It's not in Lake Erie."
The problem is that Bahrain has educated its people and created a middle class that isn't content to settle for crumbs beneath a paternalistic Arab potentate — and this country is inherently unstable as a predominantly Shiite country ruled by a Sunni royal family. That's one reason Bahrain's upheavals are sending a tremor through other gulf autocracies that oppress Shiites, not least Saudi Arabia.
Bahrain's leaders may whisper to U.S. officials that the democracy protesters are fundamentalists inspired by Iran. That's ridiculous. There's no anti-Americanism in the protests — and if we favor "people power" in Iran, we should favor it in Bahrain as well.
Walk with protesters here, and their grievances seem eminently reasonable. One woman, Howra, beseeched me to write about her brother, Yasser Khalil, who she said was arrested in September at the age of 15, for vague political offenses. She showed me photos of Yasser injured by what she described as beatings by police.
Another woman, Hayat, said that she had been shot with rubber bullets twice this week. After hospitalization (which others confirmed), she painfully returned to the streets to continue to demand more democracy. "I will sacrifice my life if necessary so my children can have a better life," she said.
America has important interests at stake in Bahrain — but also important values. I hope that our cozy relations with those in power won't dull our appreciation that history is more likely to side with protesters being shot with rubber bullets than with the regimes doing the shooting.
Nicholas D. Kristof is a regular columnist for The New York Times.
Protests in Bahrain: a clash of U.S. interests and values
America has important interests at stake in Bahrain — but also important values, writes columnist Nicholas D. Kristof, who hopes our cozy relations with those in power won't dull our appreciation that history is more likely to side with protesters being shot with rubber bullets than with the regimes doing the shooting.
By Nicholas D. Kristof
Syndicated columnist
Related
MANAMA, Bahrain — The gleaming banking center of Bahrain, one of those family-run autocratic Arab states that count as U.S. allies, has become the latest reminder that authoritarian regimes are slow learners.
Bahrain is another Middle East domino wobbled by an angry youth — and it has struck back with volleys of tear gas, rubber bullets and even buckshot at completely peaceful protesters.
In the early-morning hours Thursday here in the Bahrain capital, it used deadly force to clear the throngs of pro-democracy protesters who had turned Pearl Square in the center of the city into a local version of Tahrir Square in Cairo. This was the last spasm of brutality from a regime that has handled protests with an exceptionally heavy hand — and like the previous crackdowns, this will further undermine the legitimacy of the government.
"Egypt has infected Bahrain," a young businessman, Husain, explained to me as he trudged with a vast protest march snaking through the capital, Manama. Husain (I'm omitting some last names to protect those involved) said that Tunisia and Egypt awakened a sense of possibility inside him — and that his resolve only grew when Bahrain's riot police first attacked peaceful protesters.
When protesters held a funeral march for the first man killed by police, the authorities here then opened fire on the mourners, killing another person.
"I was scared to participate," Husain admitted. But he was so enraged that he decided that he couldn't stay home any longer. So he became one of the countless thousands of pro-democracy protesters demanding far-reaching change.
At first the protesters just wanted the release of political prisoners, an end to torture and less concentration of power in the al-Khalifa family that controls the country. But, now, after the violence against peaceful protesters, the crowds increasingly are calling for the overthrow of the al-Khalifa family. Many would accept a British-style constitutional monarchy in which King Hamad, one of the al-Khalifas, would reign without power. But an increasing number are calling for the ouster of the king himself.
King Hamad gave a speech regretting the deaths of demonstrators, and he temporarily called off the police. By dispatching the riot police early Thursday morning, King Hamad underscored his vulnerability and his moral bankruptcy.
All of this puts the United States in a bind. Bahrain is a critical United States ally because it is home to the American Navy's Fifth Fleet, and Washington has close relations with the al-Khalifa family. What's more, in some ways Bahrain was a model for the region. It gives women and minorities a far greater role than Saudi Arabia next door, it has achieved near universal literacy for women as well as men, and it has introduced some genuine democratic reforms. Of the 40 members of the (not powerful) Lower House of Parliament, 18 belong to an opposition party.
Somewhat cruelly, on Wednesday I asked the foreign minister, Sheik Khalid Ahmed al-Khalifa, if he doesn't owe his position to his family. He acknowledged the point but noted that Bahrain is changing and added that some day the country will have a foreign minister who is not a Khalifa. "It's an evolving process," he insisted, and he emphasized that Bahrain should be seen through the prism of its regional peer group. "Bahrain is in the Arabian gulf," he noted. "It's not in Lake Erie."
The problem is that Bahrain has educated its people and created a middle class that isn't content to settle for crumbs beneath a paternalistic Arab potentate — and this country is inherently unstable as a predominantly Shiite country ruled by a Sunni royal family. That's one reason Bahrain's upheavals are sending a tremor through other gulf autocracies that oppress Shiites, not least Saudi Arabia.
Bahrain's leaders may whisper to U.S. officials that the democracy protesters are fundamentalists inspired by Iran. That's ridiculous. There's no anti-Americanism in the protests — and if we favor "people power" in Iran, we should favor it in Bahrain as well.
Walk with protesters here, and their grievances seem eminently reasonable. One woman, Howra, beseeched me to write about her brother, Yasser Khalil, who she said was arrested in September at the age of 15, for vague political offenses. She showed me photos of Yasser injured by what she described as beatings by police.
Another woman, Hayat, said that she had been shot with rubber bullets twice this week. After hospitalization (which others confirmed), she painfully returned to the streets to continue to demand more democracy. "I will sacrifice my life if necessary so my children can have a better life," she said.
America has important interests at stake in Bahrain — but also important values. I hope that our cozy relations with those in power won't dull our appreciation that history is more likely to side with protesters being shot with rubber bullets than with the regimes doing the shooting.
Nicholas D. Kristof is a regular columnist for The New York Times.
Truly What Has Barack Obama Done About Foreclosures? NADA! IT'S WHAT HE'S DONE ABOUT EVERYTHING!
EVEN AS OBAMA, AND HIS HAREM OF BANKSTERS DEMS WORK FOR AMNESTY, THEY HAVE NO REAL PLAN TO DEAL WITH FORECLOSURES, OR JOBS….EXCEPT FOR ILLEGALS!
THE BANKSTER PRESIDENT
“Wells Fargo, for instance, which has leeched $25 billion in bailout money, bought an inadvertently hilarious full-page ad in The Times to whine about the junkets to Las Vegas and elsewhere it was forced to cancel because of public outrage.” --- Maureen Dowd, NYTimes
*
Lou Dobbs Tonight
Monday, November 12, 2007
Mortgage giants Wells Fargo and Bank of America are accused of slapping dubious fees on homeowners struggling to save their homes. With fewer new mortgages being written, these
companies appear to be leaning on these lucrative fees to stay profitable—with devastating consequences for homeowners. We’ll have that report.
*
latimes.com
California might join probe of lenders that seized homes
Some banks filed faulty paperwork in the 23 states where the courts handle foreclosures. They 'might not be complying with other state laws as well,' says a spokesman for state Atty. Gen. Jerry Brown.
By E. Scott Reckard and Alejandro Lazo, Los Angeles Times
October 12, 2010
California officials are considering joining a multistate investigation of whether lenders have violated foreclosure laws when seizing houses from delinquent borrowers.
OBAMA IS BOUGHT AND OWNED BY BANKSTERS! HE WILL NEVER STAND UP TO THEM!
U.S. Atty. Gen. Eric Holder said last week that his office was looking into the reports of improper foreclosures. But David Axelrod, a senior advisor to President Obama, indicated during a "Meet the Press" interview Sunday that the administration is leaning against trying to impose a wholesale freeze on home seizures.
"I'm not sure about a national moratorium because there are, in fact, valid foreclosures that … probably should go forward," Axelrod said. "But we are working closely with these institutions to make sure that they expedite the process of going back and reconstructing these and throwing out those that don't work."
OBAMA IS BOUGHT AND OWNED BY BANKSTERS! HE WILL NEVER STAND UP TO THEM!
JPMorgan Chase & Co. of New York and Detroit-based Ally Financial Inc. (formerly GMAC Inc.) have acknowledged that employees signed thousands of affidavits certifying facts underlying home seizures without reading the documents.
JP Morgan Chase and Ally — the third- and fifth-largest U.S. loan servicers, respectively — have suspended evictions in the judicial foreclosure states to ensure that paperwork is correct.
Bank of America Corp., the No. 1 loan servicer, announced last week that it would stop taking over homes in all 50 states while it makes sure it is in compliance with state laws. BofA spokesman Dan Frahm said that the Charlotte, N.C.-based bank had in some cases found procedural errors that could be corrected but that it found no problems with the data supporting the foreclosures. "We intend to complete the review and begin scheduling foreclosure sales again within weeks," he said.
Wells Fargo & Co., the San Francisco bank that is the second-largest mortgage servicer, has said it is satisfied that it has handled home seizures properly. It has not suspended any foreclosures.
*
US banks and corporations announce huge pay packages for 2009
Wells Fargo executives double their compensation
By Andre Damon
11 March 2010
US corporations are beginning to release figures on CEO pay for last year. Multi-million dollar packages are the norm in a year that saw the continued deterioration in the living conditions of the vast majority of the population.
Each of the top five executives at Wells Fargo at least doubled their compensation last year over 2008. The five men each received over $11 million in 2009, while Wells Fargo’s chief executive, John Stumpf, took home $21.3 million, far higher than his 2008 package of $8.8 million.
These latest reports come in the wake of Barack Obama’s statement last month that he does not “begrudge” the bonuses of Goldman Sachs CEO Lloyd Blankfein and JPMorgan Chase CEO Jamie Dimon. Blankfein got a $9 million bonus lat year, while Dimon received $16 million. (Their total packages have not yet been released).
“I’M NOT HERE TO PUNISH MY BANKSTER DONORS THAT DESTROYED THE LIFE SAVINGS OF MOST OF THIS NATION. I’M HERE TO SERVICE THEM FOR ANY AND ALL THEY WANT!” Barack Obama, the Bankster President (La Raza Party).
Obama defended the bonuses on the grounds that Blankfein and Dimon are “savvy businessmen.” This statement gave what amounted to official carte blanche for the multi-million-dollar bonuses paid to hundreds of other “savvy businessmen,” even as the government oversees a massive attack on the living conditions of the vast majority of the population.
*
Or when you consider that the top four mortgage lenders as of the first quarter of the year were Wells Fargo, BofA, Chase and Citi. Together they accounted for more than half of all residential loans originating in the period.
*
David Lazarus
June 21, 2009
Denial, noun: An unconscious defense mechanism characterized by refusal to acknowledge painful realities, thoughts or feelings.
-- The American Heritage
Medical Dictionary
The banking industry wasted no time last week declaring its opposition to President Obama's proposal for a regulatory agency that would protect consumers from rapacious lending practices.
While acknowledging that "regulatory reform is badly needed," Edward Yingling, president of the American Bankers Assn., said the new agency would have "powers to mandate loans and services that go well beyond consumer protection."
The Financial Services Roundtable said it applauded "modernizing regulation of the financial services industry." But it too opposes the new agency "because it will not adequately serve the best interests of consumers and their financial institutions."
The Consumer Bankers Assn. chimed in by saying the proposed agency "would create a maze of regulations suppressing creativity and product innovation."
These guys just don't get it.
The reason Obama wants to create a Consumer Financial Protection Agency isn't that he's hell-bent on imposing his will on banks. It's that banks have consistently proved themselves unworthy of customers' trust.
From runaway credit card interest rates to mortgages that turn into one-way trips to foreclosure, lenders have repeatedly demonstrated their inability to deal with customers fairly and responsibly.
Instead, they place their own interests ahead of all other considerations, and in so doing expose frequently unsophisticated consumers to enormous risk and financial ruin.
The banks have only themselves to blame for why a Consumer Financial Protection Agency is needed.
"They wrecked the system," said Gail Hillebrand, senior attorney with Consumers Union. "What they're saying is that they want to keep doing business as usual. But business as usual has failed us."
In announcing measures to improve oversight of financial markets, Obama said that "a culture of irresponsibility" had taken root on Wall Street and elsewhere.
Acknowledging that many people took out loans they couldn't afford, he said "there were also millions of Americans who signed contracts they didn't always understand offered by lenders who didn't always tell the truth."
The Consumer Financial Protection Agency would be charged with ending deceptive practices and ensuring that information provided by lenders is accurate and easy to understand.
What's truly shocking is that this sort of thing has to be legislated. You'd think banks would be able to compete and succeed by treating customers with integrity. But left to their own devices, they do just the opposite.
"Companies compete not by offering better products but more complicated ones, with more fine print and more hidden terms," Obama said.
So like naughty children, they get a time out and some new rules to follow.
Wayne Abernathy, a spokesman for the American Bankers Assn., told me his industry has gotten a bum rap. Major lenders aren't to blame for problems making consumers' lives miserable, he said.
"I can't deny that's the impression out there," Abernathy said. "But it's not us."
He said the real culprits were smaller financial institutions operating primarily at the state level that were reckless in their lending practices.
"When their products blow up, we get tarnished," Abernathy said.
Well, no.
At least not when you consider that American Express, Bank of America, Capital One, Citigroup, Discover and JPMorgan Chase account for about 80% of the credit card industry.
Or when you consider that the top four mortgage lenders as of the first quarter of the year were Wells Fargo, BofA, Chase and Citi. Together they accounted for more than half of all residential loans originating in the period.
Obama is targeting the big boys because all roads lead to their doors. And it could be argued that if anyone should know better, they should.
It could also be argued that these guys should have nothing to fear from a Consumer Financial Protection Agency if, as they say, their business is already on the up and up. What's a little accountability among friends?
Banks say a new regulatory agency would increase their costs. Since when has treating people respectfully added to expenses? They say it will stifle creativity and innovation. That just sounds like an excuse for laziness.
The simple fact is that banks have lost consumers' trust and the onus is on them to earn it back. And while they're doing so, government regulators will be watching to make sure everyone plays nicely.
That's why we need a Consumer Financial Protection Agency.
THE BANKSTER PRESIDENT
“Wells Fargo, for instance, which has leeched $25 billion in bailout money, bought an inadvertently hilarious full-page ad in The Times to whine about the junkets to Las Vegas and elsewhere it was forced to cancel because of public outrage.” --- Maureen Dowd, NYTimes
*
Lou Dobbs Tonight
Monday, November 12, 2007
Mortgage giants Wells Fargo and Bank of America are accused of slapping dubious fees on homeowners struggling to save their homes. With fewer new mortgages being written, these
companies appear to be leaning on these lucrative fees to stay profitable—with devastating consequences for homeowners. We’ll have that report.
*
latimes.com
California might join probe of lenders that seized homes
Some banks filed faulty paperwork in the 23 states where the courts handle foreclosures. They 'might not be complying with other state laws as well,' says a spokesman for state Atty. Gen. Jerry Brown.
By E. Scott Reckard and Alejandro Lazo, Los Angeles Times
October 12, 2010
California officials are considering joining a multistate investigation of whether lenders have violated foreclosure laws when seizing houses from delinquent borrowers.
OBAMA IS BOUGHT AND OWNED BY BANKSTERS! HE WILL NEVER STAND UP TO THEM!
U.S. Atty. Gen. Eric Holder said last week that his office was looking into the reports of improper foreclosures. But David Axelrod, a senior advisor to President Obama, indicated during a "Meet the Press" interview Sunday that the administration is leaning against trying to impose a wholesale freeze on home seizures.
"I'm not sure about a national moratorium because there are, in fact, valid foreclosures that … probably should go forward," Axelrod said. "But we are working closely with these institutions to make sure that they expedite the process of going back and reconstructing these and throwing out those that don't work."
OBAMA IS BOUGHT AND OWNED BY BANKSTERS! HE WILL NEVER STAND UP TO THEM!
JPMorgan Chase & Co. of New York and Detroit-based Ally Financial Inc. (formerly GMAC Inc.) have acknowledged that employees signed thousands of affidavits certifying facts underlying home seizures without reading the documents.
JP Morgan Chase and Ally — the third- and fifth-largest U.S. loan servicers, respectively — have suspended evictions in the judicial foreclosure states to ensure that paperwork is correct.
Bank of America Corp., the No. 1 loan servicer, announced last week that it would stop taking over homes in all 50 states while it makes sure it is in compliance with state laws. BofA spokesman Dan Frahm said that the Charlotte, N.C.-based bank had in some cases found procedural errors that could be corrected but that it found no problems with the data supporting the foreclosures. "We intend to complete the review and begin scheduling foreclosure sales again within weeks," he said.
Wells Fargo & Co., the San Francisco bank that is the second-largest mortgage servicer, has said it is satisfied that it has handled home seizures properly. It has not suspended any foreclosures.
*
US banks and corporations announce huge pay packages for 2009
Wells Fargo executives double their compensation
By Andre Damon
11 March 2010
US corporations are beginning to release figures on CEO pay for last year. Multi-million dollar packages are the norm in a year that saw the continued deterioration in the living conditions of the vast majority of the population.
Each of the top five executives at Wells Fargo at least doubled their compensation last year over 2008. The five men each received over $11 million in 2009, while Wells Fargo’s chief executive, John Stumpf, took home $21.3 million, far higher than his 2008 package of $8.8 million.
These latest reports come in the wake of Barack Obama’s statement last month that he does not “begrudge” the bonuses of Goldman Sachs CEO Lloyd Blankfein and JPMorgan Chase CEO Jamie Dimon. Blankfein got a $9 million bonus lat year, while Dimon received $16 million. (Their total packages have not yet been released).
“I’M NOT HERE TO PUNISH MY BANKSTER DONORS THAT DESTROYED THE LIFE SAVINGS OF MOST OF THIS NATION. I’M HERE TO SERVICE THEM FOR ANY AND ALL THEY WANT!” Barack Obama, the Bankster President (La Raza Party).
Obama defended the bonuses on the grounds that Blankfein and Dimon are “savvy businessmen.” This statement gave what amounted to official carte blanche for the multi-million-dollar bonuses paid to hundreds of other “savvy businessmen,” even as the government oversees a massive attack on the living conditions of the vast majority of the population.
*
Or when you consider that the top four mortgage lenders as of the first quarter of the year were Wells Fargo, BofA, Chase and Citi. Together they accounted for more than half of all residential loans originating in the period.
*
David Lazarus
June 21, 2009
Denial, noun: An unconscious defense mechanism characterized by refusal to acknowledge painful realities, thoughts or feelings.
-- The American Heritage
Medical Dictionary
The banking industry wasted no time last week declaring its opposition to President Obama's proposal for a regulatory agency that would protect consumers from rapacious lending practices.
While acknowledging that "regulatory reform is badly needed," Edward Yingling, president of the American Bankers Assn., said the new agency would have "powers to mandate loans and services that go well beyond consumer protection."
The Financial Services Roundtable said it applauded "modernizing regulation of the financial services industry." But it too opposes the new agency "because it will not adequately serve the best interests of consumers and their financial institutions."
The Consumer Bankers Assn. chimed in by saying the proposed agency "would create a maze of regulations suppressing creativity and product innovation."
These guys just don't get it.
The reason Obama wants to create a Consumer Financial Protection Agency isn't that he's hell-bent on imposing his will on banks. It's that banks have consistently proved themselves unworthy of customers' trust.
From runaway credit card interest rates to mortgages that turn into one-way trips to foreclosure, lenders have repeatedly demonstrated their inability to deal with customers fairly and responsibly.
Instead, they place their own interests ahead of all other considerations, and in so doing expose frequently unsophisticated consumers to enormous risk and financial ruin.
The banks have only themselves to blame for why a Consumer Financial Protection Agency is needed.
"They wrecked the system," said Gail Hillebrand, senior attorney with Consumers Union. "What they're saying is that they want to keep doing business as usual. But business as usual has failed us."
In announcing measures to improve oversight of financial markets, Obama said that "a culture of irresponsibility" had taken root on Wall Street and elsewhere.
Acknowledging that many people took out loans they couldn't afford, he said "there were also millions of Americans who signed contracts they didn't always understand offered by lenders who didn't always tell the truth."
The Consumer Financial Protection Agency would be charged with ending deceptive practices and ensuring that information provided by lenders is accurate and easy to understand.
What's truly shocking is that this sort of thing has to be legislated. You'd think banks would be able to compete and succeed by treating customers with integrity. But left to their own devices, they do just the opposite.
"Companies compete not by offering better products but more complicated ones, with more fine print and more hidden terms," Obama said.
So like naughty children, they get a time out and some new rules to follow.
Wayne Abernathy, a spokesman for the American Bankers Assn., told me his industry has gotten a bum rap. Major lenders aren't to blame for problems making consumers' lives miserable, he said.
"I can't deny that's the impression out there," Abernathy said. "But it's not us."
He said the real culprits were smaller financial institutions operating primarily at the state level that were reckless in their lending practices.
"When their products blow up, we get tarnished," Abernathy said.
Well, no.
At least not when you consider that American Express, Bank of America, Capital One, Citigroup, Discover and JPMorgan Chase account for about 80% of the credit card industry.
Or when you consider that the top four mortgage lenders as of the first quarter of the year were Wells Fargo, BofA, Chase and Citi. Together they accounted for more than half of all residential loans originating in the period.
Obama is targeting the big boys because all roads lead to their doors. And it could be argued that if anyone should know better, they should.
It could also be argued that these guys should have nothing to fear from a Consumer Financial Protection Agency if, as they say, their business is already on the up and up. What's a little accountability among friends?
Banks say a new regulatory agency would increase their costs. Since when has treating people respectfully added to expenses? They say it will stifle creativity and innovation. That just sounds like an excuse for laziness.
The simple fact is that banks have lost consumers' trust and the onus is on them to earn it back. And while they're doing so, government regulators will be watching to make sure everyone plays nicely.
That's why we need a Consumer Financial Protection Agency.
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