Shock Therapy for Wall Street: JPMorgan Suspends 56,000 Foreclosures; GMAC and BOA Many More - By Ellen Brown, Truth-out.org (4/10/10) PDF Print E-mail
By Ellen Brown, Truth-out.org   
Sunday, 03 October 2010 22:00

“Maybe this is like shock therapy. Maybe this will actually get the lenders to the table and encourage them to work out deals that are to the benefit of everybody.”

Economist Karl E. Case, quoted in The New York Times.

The hits are coming fast and furiously. It appears major Wall Street mortgage lenders could again be in serious trouble – and looking again for handouts.

On September 20th, Ally Financial Inc., which owns GMAC Mortgage, the nation’s 4th largest lender, halted evictions and the resale of repossessed homes in 23 states. This was after a document processor for the company admitted that he had signed off on 10,000 pieces of foreclosure paperwork a month without reading them. The 23 states were all those where foreclosures must be approved by a court, including New York, New Jersey, Connecticut, Florida and Illinois.

On September 24th, Representatives Alan Grayson (D-FL), Barney Frank (D- MA) and Corrine Brown (D-FL) directed a letter to Fannie Mae questioning its use of “foreclosure mills,” which were described as “law firms representing lenders that specialize in speeding up the foreclose process, often without regard to process, substance or legal propriety.” The letter followed a report by the Florida attorney general’s office in August that it was investigating three law firms that had allegedly fabricated documents in thousands of cases to obtain final judgments of foreclosure.



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The Impending Collapse Of Israel In Palestine - By Prof. Francis Boyle (1/10/10) PDF Print E-mail
Prof. Francis Boyle   
Friday, 01 October 2010 09:18

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Hungry In Gaza, More And More - By Inter Press Service (1/10/10) PDF Print E-mail
Inter Press Service   
Thursday, 30 September 2010 20:10

GAZA CITY - "Sometimes, for a day or two we don't even have bread, nor flour to make bread. There's a store nearby that, when we are truly desperate, lets us take a bag of bread or something simple, on credit. I owe them a lot of money for the food I've brought from them, but I still can't pay them."

Umm Khamis Khattab, 52, lives in a single, bare-bones room in central Gaza's Bureij refugee camp. Khamis, her disabled son, 30, is married but has no source of income.

"Our situation is very bad. We used to receive financial support because my son is disabled. Now, we get nothing. After my husband died five years ago, his family tried to help us, for a short while. But they can't take care of themselves, let alone us," says the widow. "So we get by on hand-outs from neighbours now and then."



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Israel Can't Refute UN Flotilla Probe - By Rev. Ted Pike (1/10/10) PDF Print E-mail
Rev. Ted Pike   
Thursday, 30 September 2010 20:03

On Sept 22, the United Nations Human Rights Council released its blistering, 56-page report on Israel’s attack of the Free Gaza flotilla. Israeli Prime Minister Netanyahu promptly proclaimed it “biased and distorted.” Israel directed all Zionist organizations worldwide to do likewise. Yet for nearly a week no substantive rebuttal has come from world Zionism. Even Israel’s dependable PR pit bull, the Anti-Defamation League, was silent—until Tuesday.

After six days of silence, here is the best defense ADL’ s Abe Foxman can muster:

Once again an investigative committee appointed by the Human Rights Council produced a predictably prejudiced report with one goal: to demonize Israel. Moreover, this report is unnecessary given the fact that Israel is currently conducting a thorough and transparent investigation into the incident through the Turkel Commission, and a committee was established by UN Secretary-General Ban Ki-moon to monitor the progress of the Israeli and Turkish investigations.



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Global Governance 2025: At A Critical Juncture (30/9/10) PDF Print E-mail
Administrator   
Thursday, 30 September 2010 09:59

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