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| Permalink View Article Stats (3 comments) Promoted to Headline (H2) on 1/23/12: Obama to Use Pension Funds of Ordinary Americans to Pay for Bank Mortgage "Settlement" Quicklink submitted by Amanda Lang (Add your own quicklinks easily with the OpEdNews Quick Link Browser bookmark) |
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 White Collar Crime Pays...and Pays by Eyewash for Flickr |
Obama's latest housing market chicanery should come as no surprise. As we discuss below, he will use the State of the Union address to announce a mortgage 'settlement' by Federal regulators, and at least some state attorneys general. It's yet another gambit designed to generate a campaign talking point while making the underlying problem worse. The president seems to labor under the misapprehension that crimes by members of the elite must be swept under the rug because prosecuting them would destablize the system. What he misses is that we are well past the point where coverups will work, and they may even blow up before the November elections. If nothing else, his settlement pact has a non-trivial Constitutional problem which the Republicans, if they are smart, will use to undermine the deal and discredit the Administration. To add insult to injury... |
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Who is the author
by Christie on Monday, Jan 23, 2012 at 11:06:39 PM
The author is Yves Smith...click on "View Article"
by Amanda Lang on Tuesday, Jan 24, 2012 at 11:14:11 AM
Two articles at NakedCapitalism
by Mike Preston on Monday, Jan 23, 2012 at 11:24:44 PM