Congressional Black Caucus: Selling us out

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If any of the following Congressional Negroes belongs to you, y’all might wanna drop them a line and let them know that you don’t appreciate their voting to bail out crooked bankers and the largely white investor class that lost their shirts speculating in mortgage backed securities. 

Rep. Maxine Waters D-CA
Rep. Laura Richardson D-CA
Rep. Eddie Bernice Johnson D-TX
Rep. Artur Davis D-AL
Rep. Sanford Bishop D-GA
Rep. Corrine Brown D-FL
Rep. Alcee Hastings D-FL
Rep. Kendrick Meek D-FL
Rep. James Clyburn D-SC
Rep. Mel Watt D-NC
Rep. Chaka Fattah D-PA
Rep. Danny Davis D-IL
Rep. Keith Ellison  D-MN
Rep. Gwen Moore D-WI
Rep. Yvette Clarke D-NY
Rep. Greg Meeks D-NY
Rep. Charlie Rangel D-NY
Rep. Edolphus Towns D-NY

Bankers consciously conspired to disproportionately saddle people of color (mainly Blacks and Latinos) with predatory loans and other dangerous loan products which ruined their lives and destroyed their credit.  They sold the loans on the open market to the investor class at a profit until their colored victims started defaulting on their adjustable rate mortgages when the loans reset.

The Bailout package which failed the other day left the issue of predatory lending unaddressed.   Naomi Klein, author of the Shock Doctrine, which explains the phenomenon of Disaster Capitalism, is a primer for political activists wishing to understand the predatory habits of the right-wing and their enablers in the Democratic Party.   Miss Klein, a Canadian National, writes about how the right has used the crisis surrounding disasters both natural and manmade to unleash free market schemes on an unsuspecting public worldwide.   The credit crisis is just the latest scheme and its being used to bailout the very same people who pushed for the deregulation of the banking industry and caused the problems that threaten global economic collapse.

Dennis Kucinich, as always, hit the nail on the head.  He said on the floor:

Why aren’t we helping homeowners directly with their debt burden?  Why aren’t we helping American homeowners faced with bankruptcy? Why aren’t we reducing debt for Main Street instead of Wall Street? Isn’t it time for fundamental change in our debt based monetary system, so we can free ourselves from the manipulation of the Federal Reserve and the Banks? Is this the United States Congress or the Board of Directors of Goldman Sachs?  Wall Street is a place of Bears and Bulls.  It is not smart to force taxpayers to dance with Bears or follow to closely behind the Bulls.

None of the aforementioned Negroes is running for President and none needs the support of Wall Street to get re-elected.  What is most interesting about this list is the progressive names on it, along with those of the corporate whores, like Artur Davis and David Scott that have been identified by our friends at Black Agenda Report.   Yvette Clarke, Keith Ellison, Gwen Moore, Maxine Waters, and Mel Watt don’t belong on this list–their progressive voting records indicate that they know damn better.

I am particularly peeved by Sistah Waters and Brotha Watt.  As the senior African Americans serving on the House Financial Services Committee, Mr. Watt chairs the Subcommittee on Oversight and Investigations and Mrs. Waters chairs the Subcommittee on Housing & Community Opportunity.  They know full well how hard Banking institutions chafed under the Community Reinvestment Act that monitors how banks redline communites of color and deny them credit.  This predatory loan crisis has been an onging outrage and this bailout package does nothing to remedy the situation.

Unlike their chairman, the brilliant Barney Frank, neither Mrs. Waters or Mr. Watt is beholden to the financial services industry.   Barney Frank has taken in excess of $2,259 907 from the financial services, real estate, and insurance industries since 1989.   Moreover, Barney hasn’t had a competitive re-election bid in 26 years.   There isn’t any reason for their betrayal of the black community except for their alleigance to one woman: House Speaker Nancy Pelosi.    I like Nancy. I admire Nancy, but this bailout bill is not what progressive Democrats sent the Democratic majority to Washington for.   For 18 of the 41 member Congressional Black Caucus to capitulate to this bailout betrayal gives new meaning to the epithet House Negro.

36 thoughts on “Congressional Black Caucus: Selling us out

  1. Chesapeake

    The Bush administration offered up a “solution”, and instead of making a counter offer of their own solution, the democrats negotiated based on Bush’s terms and on the disastrous outlook he communicated. These events suggest that the democrats either don’t have a guiding baseline economic stategy and principle from which to work, or that they have them but are distracted by the “crisis.” I can’t figure any other reason democrats would effectively become supply-siders.

  2. Skep,

    I have not read the 110 page bail out plan that was rejected, and I don’t feel qualified to state exactly what the parameters of a rescue plan/bail out should look like. What I do know is that we can rant and rail against the bankers and investors who put us in this position, but we are in some deep s#$%. It would be economically catastrophic for us to do nothing and let the markets “correct” themselves. This would likely lead to massive unemployment, a huge erosion in the 401K plans that my parents, and perhaps your mother depends upon. It would be a disaster. We definitely need a responsible bail out plan, but we do need such a plan. For real…

  3. TripLBee,

    I am NOT claiming that we should do nothing. I think we should address the crisis by writing down the value of mortgages with predatory loan terms so people can stay in their homes. Defaulted mortgages got us in this credit crunch and ignoring that fact won’t get us out.

  4. Rick

    Trip, I’m convinced based on what I have seen/heard yesterday and today, that if in the future there are people standing on soup lines wrapped triple times around the block — in towns all over america — as a result of Politicians’ inability to pull their collective heads out of their (censored)-sses…there will still be some good folks who say this is a “Wall Street” problem.

  5. Rick

    Skep,
    Those mortgages whose values you want to write down are connected to what are called mortgage backed securities. Billions and Billions and Billions of them. If the values of those securities (assets on the balance sheet of banks) goes down below a certain point, then those same banks (or anyone else who holds the securities) go insolvent. That’s what’s already happening. Now the problem isn’t the bank going down per se. The problem is that when the bank (or whoever) goes down, they take everyone (not just wall street) with them. THAT is the problem. We are dealing with systemic risk,which creates a vicious feedback loop on the “real” economy (jobs, wages, access to credit, economic growth). Everything just stops…that’s where we are headed.

  6. Angie

    All of this makes my head hurt. I don’t even know where to begin trying to come up with a solution for all of this. Therefore, it is difficult for me to trust and feel confident with the plans that I have heard thus far.
    What I do appreciate, however, is all of the insight and information I find here. Thanks!

  7. Rick,

    If mortgages are made affordable, the value of the assets increases, not decreases. What in the hell can the investor class do with vacant property nobody can get the credit to buy. The value on most of these properties was overvalued anyway.

  8. Skep,

    I’m not sure what you’re suggesting. If you’re suggesting that the federal govt back the mortgages that have adjustable rates (I’m guessing that’s what you mean by predatory lending), my guess is that the bill will be substantially higher than $700B since a majority of loans made between 2002-2005 had those terms. I really don’t know how the federal govt. can rescue the homes of people who got sucked into what amounted to legalized real estate fraud. One thought I’ve had—and it is far from perfect—is that people who go into foreclosure not have their credit scores affected. My rationale is that housing prices need to come down…way down. If the people losing their homes today don’t get penalized for it, many of them will be able to afford to buy when the housing market settles. There may be a better idea out there, but I can’t see how we can afford to keep people in houses that they couldn’t afford in the first place, in spite of the fact that they’ve been defrauded.

  9. Rick

    Skep, what you propose sounds good. But there is a problem.

    A very big problem we face relates to what are known as ARMs (“Adjustable Rate Mortgages”)–fixed rate mortgages that began with a “teaser” low rate, and then reset after a number of years to a higher rate.

    Of the almost 3 million subprime loans in the U.S., almost 2/3rds are ARMs and about 30% of them will reset to the higher rate in the next 12 months. There are two sides to this catastrophe, and whatever is done about it, one side faces insolvency.

    IF the ARMs reset, some estimates are that the number of households that will go bankrupt is at least 1 million because there’s no way these borrowers can pay the higher rate. Some estimates are the average mortgage rate for ARMS will rise from an already high 8.8% to a crazy high 14.8%. But on top of that, the variance between the new rate and the initial teaser rate will be capitalised onto the debt. BIG PROBLEM…so ok I’m with ya: let’s just change the terms to make the loan more affordable.

    Well, there’s a slight problem with that too. The banks who bought the hundreds of billions of mortgage-backed securities (MBS) that are backed by the mortgage loans are dead because the bonds would be worth next to nothing (because of how the bonds and cash flow assumptions in the bonds are structured).

  10. Angie

    “Some estimates are the average mortgage rate for ARMS will rise from an already high 8.8% to a crazy high 14.8%.” Rick

    Um, what?

    Okay Rick, please explain something to me. Why didn’t these people qualify for a FHA loan with a fixed rate? Were all of these people’s credit rating and debt to income ratio that out of control? Or were these lenders just placing a shaft up the rear of unsuspecting, uneducated borrowers in a way that I cannot imagine?

    I have a couple more questions for y ou.
    * What do you think the solution is?
    * What should regular folks, like myself do to brace myself for what is to come? (Is there anything at all I can do?)
    * Will my mother’s teacher retirement be impacted by this. She’s currently receiving a monthly payment due to early retirement based on disability. From what I understand, many folks retirement is wrapped up in the financial markets. How worried should I be?

    Angie

  11. While I appreciate your frustration, have you considered that the more senior members that you called out supported the bill because they have a better understanding of the matter than we do?

    As stated before people are so business focusing on “wall street” problem as if these people are not our neighbors, or the companies involved do not do business with our employers.

    I work for a nonprofit healthcare organization that does not take federal dollars. donations are significantly down before this week. Companies are certainly not in a position to provide the type of support as in the past and individuals cannot make the difference up. They announced two weeks ago no layoffs – but given these two weeks, they will not be something they can maintain very long.

    It was suggested to me yesterday that we should just let the chips fall where they may. Sounds good but the guy getting the $18M parachute for three weeks of work is not going to be as impacted by the fallout as we are.

  12. Angie

    Hello Skep,

    I’m doing okay. My power was restored last Wednesday. So, my life is starting to look more like my version of normal **smile**
    However, I’m deeply concerned and on the verge of being livid about the number of folks that are still without power. I have family members that are still running generators and chilling water, insulin, and food in ice coolers. And can you believe that there are some in the city that do not have running water. What’s going on out here in Houston is a damn mess.

    FEMA’s response was piss poor. In a city/region of the state that nearly 7 million people reside, in the first two days after the storm, there were only 16 FEMA stations set up to provide the people with ice and water. The lines were miles long. And if you didn’t have a car to drive up to the POD’s (points of distributions ), your ass was stuck out. They were actually turning away women, who were walking up with their strollers, looking for ice to keep their baby formula cool.

    After the local news (And I will touch on that in a minute.) started exposing the ridiculous response from FEMA, POD’s started popping up all over Harris County and the surrounding counties. They also set up a few FEMA stations that allowed people to walk up. But if you were disabled, elderly, or could not walk to these walk-up stations, and you caught a ride with someone else, you were still stuck out. They were only giving a certain amount of ice and water to each vehicle. It didn’t matter if there were several families that were repping in the car.

    As for the destruction of property caused by the storm… Galveston Island has been relandscaped. The coast line has changed, hundreds are still missing, and thousands are homeless. And the folks that had homes on the coast, where the water line has risen, the state can now claim ownership of that property.

    And to add to the citizens misery, the Galveston city council had the unmitigated gall to increase the property taxes of home owners in Galveston a day or so ago. It’s just plain criminal and barbaric.

    Back to the news… In my opinion, and from what I have heard from friends and family in other parts of the country: The national news had ignored and under reported what went on in Houston, and also what is currently happening now.

    I wonder why.

    I can only guess that the Bush/Republican Machine is behind it. The third day after the storm, Bush brought his sorry tail out here and did a press conference. In his statement, he lied by stating, “The demands are being met.” That was a damn lie. People were suffering all over the city. What happened out here was a damn catastrophe.

    Yes, all races and income levels were without lights. But can you guess who took the hardest hit, who didn’t have money to buy a generator, who didn’t have a damn ride to get to the POD’s to get supplies? You know who…

    Do you know that many of our schools are still closed. Many children are just out of school, rather than being sent somewhere else. Do you want to guess what color the kids are that are still without lights at their homes and their schools?

    Skep, sorry for the rant. But I felt like I needed to speak up about what is happening out here. I wrote this response the other day to Rikyrah, but your blog ate it up. I was just too drained to rewrite it. So, I’m getting it off my chest now. Plus, I think that all brothas and sistas need to know what is happening in our American cities.

    Thanks for asking about me. Like I said, I’m doing okay.

    Peace and love,
    Angie B.

  13. Chesapeake

    Rick and Trip,

    I agree that something has to be done. However, the package is upside down. This economy and its markets will best be rescued by strenthening the consumers, savers, and small businesses that need capital. Secondarily, the banks and investors need security.

    Having had a chance to skim the bill, the bailout rescues the banks and investors, not the economy. As a premise, investors and banks invest with a high level of knowledge and sophistication. Their risks are calculated. Investors and banks are BSing about bringing the markets down because they’ll lose confidence. THEY’RE INVESTMENTS AND STRATEGIES HAVE NEVER BEEN INTENDED TO BE GUARANTEES. Thus, in a falling market, their investments WILL BE devalued. They know this. There is no good reason for us to pay face value for the bad paper. The deed of trust notes and MBS’s should be deeply discounted to maybe 65%, max.

    Those discounts should be passed to the debtors and victims of hurricane disasters. A portion of the $700B should go to the SBA to assist businesses and non-profits to prepare themselves to counsel and negotiate with predator victims the settlement their defaulted and defaulting mortgages. That would give relief to the homeowners, even if it means relinquishing the home, and training and work for some people. Scrutinized housing and credit markets can handle it from there.

    Also, the best way to assure that business owners get what they need is to allocate a good portion of that $700B to the SBA for administration – not put it in directly in the banks’ greedy hands. Speed up the already established SBA loan process.

    Help regular folks and the banks by artificially raising interest rates on savings accounts. A portion of the $700B should go to supplementing the augmented rate. This would help banks, too.

    Finally, before a culprit bank gets any relief, it should be required to make shareholder enacted changes in policy and management. It is ridiculous that we be forced to continue to throw good money after bad.

    These were part of my appeal to my congressman and senators. I held off from writing these things in this blog, but I wanted to share these ideas with you so that you can see why many people are scoffing at the administration’s and congress’ actions. Banks and investors could use some relief, yes, but I just believe that policy that directly protects working people is overdue. The working people’s qualified retirement plans will take hits, but only for a short-term. There are other ways.

  14. Tyren McGruder

    Ouch. Thought that Keith Ellison voted against the bill. Will have to recheck the voting and drop him a dime. Saw on “Countdown” Michele Bachmann (Bush Whore) tried to blame mess on poor blacks and minority loans. She needs to go. I don’t live in either district but will spread the word.

  15. RisingTide

    Skep,

    Stop being a silly goose. The mortgages are the lighter that lit the fuse to the dynamite. They ain’t the dynamite, and this is why we got problems. Nobody wants to explain why we got 45 trillion dollars of phantom money floating around in Credit Default Swaps.

    But if we let the banks fail, it won’t just be one bank. It’ll be them all. They all got together in circular firing squads and made loans and promises to each other that if one goes under, they all can’t fulfill.

    This is some serious bad fucking shit.

    Everyone, keep a month’s worth of money outta the bank. if the commercial paper market goes… bad times ahead.

  16. Chesapeake,

    I think all of us are guilty of Monday morning quarterbacking here. Yes, we’ve all been completely screwed by those who run commercial banks, investment banks, hedge funds, etc. Yes, the folks running these companies (especially on the investment banking and hedge fund side) made out like bandits. And most especially, our elected officials—especially this dumb ass president—completely abdicated the federal govt’s oversight responsibilities. But the fact of the matter is, we are all screwed if there is a domino effect of collapsing banks and companies. There is just no way around that. The best we can do now is to heavily regulate these industries to make sure this doesn’t happen again. (Geez, you’d think we would have learned something from the S&L meltdown!) But if we were to not do anything to prop up the banking/credit sector, my God, it would be a catastrophe.

  17. RisingTide

    We had GlasSteagal, dammit! We already MADE those fucking regs. Thank Clinton and Bush for deregulating us to DEATH.

  18. Chesapeake

    TripLBee,

    I feel you, and I’m witnessing personally the consequences.

    I’m just one of those who believe that a few bank and corporate failures will not collapse the economy. Most of them will be acquired by stronger, conservative banks and corporations. Some of them need to fail and be broken up. I know this position sounds punitive, but consider it paternalistic (a function of government). Just as you go after your children’s tails when warranted, we need to get after some banker and investor tail. They’ll recover and grow to appreciate it.

    As a practical matter: After last winter’s collapses, why in the hell are investors and banks still holding MBS’s? ‘Cause they GAMBLED rather than sell or convert the paper and take the softer “L” back then. That’s cool as long as they gambled their own money.

    Count me as a wacko who disagrees with the conventional wisdom that the money has to chase the banks to save the economy. Bush did it to us before; but we can’t afford to believe the argument that there are “weapons of mass destruction” lurking in this crisis if we don’t bail out banks and investors according to the present plan. I ain’t buying it. (Besides, the country survived the S&L meltdown.)

    Give the money, breaks, and services to the people and small businesses and let them save, buy, and invest the economy to recovery. The wise Pickens/Buffet/JPMC/BofA/Citi types will do the rest. This will prop up the markets. The money will find its way back up to the fat cats. Maybe by then they’ll be re-regulated so that the money will flow down and up and through the classes.

    I think there is another way around it.

  19. I have to say that I’m with Trip here.
    This is a credit crisis and, as counterintuitive as it may be, if there isn’t more access to credit (i.e., debt) I think ‘bad things’ will happen. I know, it’s vague and Bogeyman-ish to say ‘bad things’ will happen but, in my non-economist brain, that’s how I see it.

    The Times has a very non-jargon-filled explanation of this credit crisis and why it’s important to rescue the credit markets. It finally made sense to me.

    Do I want some suited bastard who got us in this mess to go home thinking he dodged a bullet? No. But then again, I’m not in the justice business. I’ll believe that so-and-so will get what’s his later. For now, though? I’m not gonna ding Danny Davis because he voted to keep our economy moving forward.

  20. RisingTide

    Chesapeake,

    Yeah. You try going without a paycheck for a month, because the commercial paper market broke down. Try all of America doing that, without ATMs working or nothin’. Dude, that’s some deep shit you want to throw us in.

    Just warning y’all.

    It’s bad either way, but this way is more entertaining!

  21. TripLBee

    Chesapeake,

    I know that Bush has no credibility left. He shouldn’t. But the overwhelming majority of economists are saying that we have to rescue the banking sector. It is not as if these bad debts just showed up on the ledgers two weeks ago. There is a panic in the market and panics are not governed by the free market laws. The reason the house of cards could collapse is because every debtor may start calling in their loans while creditors are refusing to lend. This can kill off the good with the bad. Many people think that’s already what’s happening. If we leave it up to the markets we are f#$%ed.

  22. Chesapeake

    Rising Tide and TripLBee, I disgree, but I understand your points. The bailout seems destined to happen.

  23. Rick

    “Okay Rick, please explain something to me. Why didn’t these people qualify for a FHA loan with a fixed rate? Were all of these people’s credit rating and debt to income ratio that out of control? Or were these lenders just placing a shaft up the rear of unsuspecting, uneducated borrowers in a way that I cannot imagine?” – Angie

    All of the above, and a whole lot more. Some qualified for a fixed rate, but assumed an unsuitable product either because they did not understand the risks, or the lenders purposely sold them a shady product to collect the origination fee. Others (buyers) took on the mortgage because they assumed the housing market would keep rising and they would sell their homes at a higher price (at a profit) before the mortgage rate reset. There is no one single reason, but many. Greed, lack of financial literacy/education, unscrupulous lenders, wrong assumptions. All of these are factors.

    “I have a couple more questions for you.”
    * What do you think the solution is?

    Recapitalize the banks via direct capital injections with American taxpayers getting a first claim on the bailed out banks’ assets. Let existing shareholders take the hit. this method is more direct. I’m not a big fan of buying these troubled assets, but it’s better than doing nothing.

    “* What should regular folks, like myself do to brace myself for what is to come? (Is there anything at all I can do?)”

    Pay off debts; keep emergency stash of safe investments in case of unforseen emergency (some recommend 6 months living expenses); keep a diversified portfolio; invest a little bit consistently over time…and for the long haul (never try to time the market); consult a professional for a plan tailored to meet individual circumstances. oh, don’t panic😉

    “* Will my mother’s teacher retirement be impacted by this. She’s currently receiving a monthly payment due to early retirement based on disability. From what I understand, many folks retirement is wrapped up in the financial markets. How worried should I be?”

    the pension fund may investments that have been impacted, but the extent will vary depending on how the fund is being managed. You’d have to look at the holdings in the plan, which I believe is public information. i believe there are restrictions on what pensions can invest in to protect retirees. relatedly, as a general principle, for self managed 401ks, folks closer to retirement should have less invested in risky assets like stocks and more in stable funds.

    disclaimer: all of the above is my humble opinion. individuals should consult a professional for more tailored advice specific to their situation.

  24. Rick

    Chesapeake wrote:
    “As a practical matter: After last winter’s collapses, why in the hell are investors and banks still holding MBS’s?”

    Because there were no buyers🙂 the credit markets have effectively been disrupted since Sugust 2007, and the MBS market in particular effectively frozen. I.e., no one’s buying, except at very distressed prices…as in 20 cents on the dollar. to sell at those prices means you have to mark your whole books down. And if many banks did that, they would technically be insolvent. Let me repeat: no one really cares if an individual bank goes belly up. the issue is who they take down when they go belly up. and the effects are being felt far from wall street. across the globe actually…

  25. marc

    Kucinich makes a relevant point… why is this issue not going to a subcommittee?
    The pretext to grab a lot of public money has arisen and the Bush Administration wants to grab it just as they are doing with the Iraq war.

    Of course the government can afford to BUY the mortagage securities. There is NO risk because these securities represent real assets (property). Putting 700 Billion back into the very same marketplace is a waste because it will just delay the inevitable. Property prices are too high and will continue to lower. The government needs to expedite this reduction.

    Politicians arent making any suggestions to change the system… did I miss it?
    By the way someone suggested raising interest rates… read about the list of mistakes that the US government made during the Great Depression.

    Realty Agents and Bankers have preyed on the poor. Misinformation and miseducation are why they own a disproportionate amount of subprime loans. Isnt it interesting how when the poor can longer afford to make their overcharged monthly payments the economy collapses?
    YES, look around and see that this country is built on exploiting the people on the bottom.

    Compare that to Europe where you can only borrow 3 times the amount of your yearly salary!
    That is right, by that standard you’d have to earn at least 150k per year to buy a 500k wood frame house in the suburbs. Now you know why so many Europeans live in social housing.

  26. First, it’s time to take another look at who betrayed the common folk and voted for the bailout. Michigan’s representatives were 9-6 against on Monday, but 9-6 for the more expensive bailout. I understand the 2 Republicans who changed their votes, but Rep. Kilpatrick makes no sense to me. Much of her district is lower or middle class and she’s a Democrat. Why get in bed with big business and the mortgage industry which has, for years, discriminated against Detroiters?

    Second, I agree with Chesapeake’s comments. Those who created this mess should have suffered the consequences. Anyone who’s foolish enough to think this bailout—especially with the addition $1 billion or so earmarks—will keep us from feeling any pain needs a reality check. The only difference is all of us, not just those who bought more house than they should have, are on the hook now.

    Coupled with the $390 billion foreclosure rescue plan, the $85 billion AIG rescue plan, and the bailout with earmarks, US taxpayers—you and me—have added $1.8 trillion to our debts, all to support big oil, big industry, and big finance.

    If the bailout is supposed to be so good for the country, when can we epect our dividend checks or tax rebates?

  27. DOUGLAS FIELD

    SENATOR OBAMA,DOES GOD NEED TO LOBBY OUR US CONGRESSIONAL LEADERS OF THE FREE WORLD FOR POORER AMERICAN’S,OR ARE YOU WATCHING OUT FOR THEM ??

    SURELY OUR US CONGRESS & US SUPREME COURT BOTH KNOW THE DIFFERENCE BETWEEN STATE MURDER & A POSSIBLE EXECUTION IN GEORGIA NEXT WEEK ???

    OUR US CONGRESSIONAL LEADERS OF THE FREE WORLD CONTINUE TO DENY MIDDLE CLASS AND WORKING POOR AMERICANS PROPER LEGAL REPRESENTATION EVEN THOUGH WRONGFUL EXECUTIONS & FALSE INCARCERATIONS CONTINUE ALL ACROSS AMERICA ???

    *** 700 BILLION $$$ AVAILABLE FOR US BAILOUT, & NO $$$ FOR ALL POORER AMERICANS PROPER LEGAL REPRESENTATION ???????

    WHERE ARE AMERICA ‘S RELIGIOUS LEADERS ??
    SENATOR OBAMA, THIS JUDICIAL INJUSTICE HAS BECOME AN AMERICAN ART FORM, AND NO LONGER CAN BE KEPT HIDDEN OR SECRET FROM THE AMERICAN PEOPLE EVEN IF CERTAIN (501c3) U$ RELIGIOU$ LEADER$ HAVE BEEN $ILENCED ??

    LETS ALL HOPE OUR MEDIA FRIENDS CONTINUE TO SHOW AN INTEREST IN REPORTING ON THIS AMERICAN HORROR FACING THESE (TENS OF THOUSANDS) FORGOTTEN AND TRAPPED POORER AMERICANS, AND HOW THIS PRESIDENTIAL CONTENDER HANDLES THIS VERY SERIOUS ISSUE FACING AMERICA’S LATINO AND BLACK AMERICAN COMMUNITIES ????

    WITH 80% OF THE BLACK AMERICAN VOTERS SAYING THEY SUPPORT SENATOR OBAMA IN THIS PRESIDENTIAL ELECTION, IT IS ONLY FAIR FOR EVERYONE TO KNOW PRIOR BEING ELECTED OUR NEXT PRESIDENT OF THE UNITED STATES HOW THIS DEMOCRATIC SENATOR TRULY FEELS ABOUT THIS AMERICAN JUDICIAL INJUSTICE CONTINUING TO INFLICT GRAVE HARM ON THE BLACK & LATINO AMERICAN FAMILIES AND THEIR COMMUNITIES NATIONWIDE ??????

    *** WHEN GOD’S FACE BECAME VERY RED ***
    THE US SUPREME COURT GAVE ENEMY COMBATANTS FEDERAL APPEAL HC RIGHTS LAWYERS AND PROPER ACCESS TO US FEDERAL COURTS,AND POORER AMERICANS (MANY EVEN ON DEATH ROW) ARE DENIED PROPER FEDERAL APPEAL LEGAL REPRESENTATION TO OUR US FEDERAL COURTS OF APPEAL, AND ROTTING IN AMERICAN PRISONS NATIONWIDE ?????????

    **** INNOCENT AMERICANS ARE DENIED REAL HC RIGHTS WITH THEIR FEDERAL APPEALS !
    THE AMERICAN PEOPLE ARE $LOWLY FINDING OUT HOW EA$Y IT I$ FOR MIDDLE CLA$$ AND WORKING POOR AMERICAN$ TO FALL VICTIM TO OUR U$ MONETARY JUDICIAL $Y$TEM.

    ****WHEN THE US INNOCENT WERE ABANDONED BY THE GUILTY ****
    The prison experts have reported that there are 100,000 innocent Americans currently being falsely imprisoned along with the 2,300,000 total US prison population nationwide.

    Since our US Congress has never afforded poor prison inmates federal appeal legal counsel for their federal retrials,they have effectively closed the doors on these tens of thousands of innocent citizens ever being capable of possibly exonerating themselves to regain their freedom through being granted new retrials.

    This same exact unjust situation was happening in our Southern States when poor and mostly uneducated Black Americans were being falsely imprisoned for endless decades without the needed educational skills to properly submit their own written federal trial appeals.

    This devious and deceptive judicial process of making our poor and innocent prison inmates formulate and write their own federal appeal legal cases for possible retrials on their state criminal cases,is still in effect today even though everyone in our US judicial system knows that without proper legal representation, these tens of thousands of innocent prison inmates will be denied their rightful opportunities of ever being granted new trials from our federal appeal judges!!

    Sadly, the true US *legal* Federal Appeal situation that occurs when any of our uneducated American prison inmates are forced to attempt to submit their own written Federal Appeals (from our prisons nationwide) without the assistance of proper legal counsel, is that they all are in reality being denied their legitimate rights for Habeas Corpus with our US FEDERAL COURTS and will win any future Supreme Court Case concerning this injustice!

    For our judicial system and our US Congressional Leaders Of The Free World to continue to pretend that this is a real and fair opportunity for our American Middle Class and Working Poor Citizens, only delays the very needed future change of Federal Financing of all these Federal appeals becoming a normal formula of Our American judicial system.

    It was not so very long ago that Public Defenders became a Reality in this country.Prior that legal reality taking place, their were also some who thought giving anyone charged with a crime a free lawyer was a waste of taxpayers $$.

    This FACADE and HORROR of our Federal Appeal proce$$ is not worthy of the Greatest Country In The World!
    ***GREAT SOCIETIES THAT DO NOT PROTECT EVEN THEIR INNOCENT, BECOME THE GUILTY!

    A MUST READ ABOUT AMERICAN INJUSTICE:
    1) YAHOO AND 2) GOOGLE
    MANNY GONZALES THE KID THAT EVERYONE FORGOT IN THE CA PRISON SYSTEM.
    ** A JUDICIAL RIDE OF ONES LIFE !

    lawyersforpooramericans@yahoo.com
    (424-247-2013)

  28. Spinster

    Although I live in the area of one of the Negroes who voted for the bailout, I’m still registered in my old neighborhood, so based on that I decided not to write to that representative. Once I change my address to vote in said Negro’s congressional district, said Negro will be hearing from me.

    I wrote to Senator Obama, asking that he say no to the bailout. I’m very disappointed that he voted for it. These crooks and thieves get bailed out, but honest hard-working Americans who wanted a piece of the American dream get no assistance? That’s that bullshit, for real.

  29. LAWYERS FOR POOR AMERICANS

    MEMBER US CONGRESSIONAL LAWYERS DENY POORER AMERICANS PROPER LEGAL REPRE SENTATION ????

    WHEN THE AMERICAN PUBLIC FOUND OUT THE TRUTH ABOUT THEIR IVORY TOWER US CONGRESS WHO COULD CARE LESS EVEN IF AMERICAN CITIZENS CONTINUE TO BE FALSELY IMPRISONED AND EXECUTED DUE TO A LACK OF PROPER LEGAL REPRESENTATION !!

    HAVING BEEN DENIED APPEAL LAWYERS FOR THREE YEARS ON DEATH ROW IN GEORGIA MR.TROY DAVIS IS NOW BEING EXECUTED FOR A CRIME HE MIGHT NOT HAVE EVEN BEEN INVOLVED WITH !!!

    SENATOR OBAMA PLEASE LET THIS COUNTRIES VOTERS KNOW YOUR FEELINGS AND THOUGHTS ABOUT A NEEDED FUTURE REPAIR AND RENOVATION OF OUR BROKEN JUDICIAL SYSTEM THAT CONTINUES TO ALLOW THE EXECUTION’S OF EVEN POSSIBLE INNOCENT AMERICAN’S LIKE TROY DAVIS OF GEORGIA ?????

    BEING THE WEALTHIEST COUNTRY IN THE WORLD SENATOR OBAMA, DON’T WE NEED AS THE LEADERS OF THE FREE WORLD TO BEGIN ONCE AGAIN TO RE-INVEST THE PROPER MONIE$ IN OUR OWN US JUDICIAL SYSTEM, ASSURING ALL OF OUR CITIZENS THEIR RIGHTS TO FAIR TRIALS WITH PROPER LEGAL REPRESENTATION ???

    DOES GOD NEED TO LOBBY OUR US CONGRESSIONAL LEADERS OF THE FREE WORLD ON BEHALF OF OUR poorer american’s SENATOR OBAMA,OR ARE YOU WATCHING OUT FOR THEM ??

    ***OUR US CONGRESS CONTINUES TO DENY MIDDLE CLASS AND WORKING POOR AMERICANS PROPER LEGAL REPRESENTATION EVEN THOUGH WRONGFUL EXECUTIONS & FALSE INCARCERATIONS CONTINUE ALL ACROSS AMERICA ???

    *** 700 BILLION $$$ AVAILABLE FOR US BAILOUT, & NO $$$ FOR ALL POORER AMERICANS PROPER LEGAL REPRESENTATION ? SENATOR OBAMA, THIS JUDICIAL INJUSTICE HAS BECOME AN AMERICAN ART FORM, AND NO LONGER CAN BE KEPT HIDDEN OR SECRET FROM THE AMERICAN PEOPLE EVEN IF CERTAIN (501c3) U$ RELIGIOU$ LEADER$ HAVE BEEN $ILENCED ??

    LETS ALL HOPE OUR MEDIA FRIENDS CONTINUE TO SHOW AN INTEREST IN REPORTING ON THIS AMERICAN HORROR FACING THESE (TENS OF THOUSANDS) FORGOTTEN AND TRAPPED POORER AMERICANS, AND HOW THIS PRESIDENTIAL CONTENDER HANDLES THIS VERY SERIOUS ISSUE FACING AMERICA’S LATINO AND BLACK AMERICAN COMMUNITIES ????

    WITH 80% OF THE BLACK AMERICAN VOTERS SAYING THEY SUPPORT SENATOR OBAMA IN THIS PRESIDENTIAL ELECTION, IT IS ONLY FAIR FOR EVERYONE TO KNOW PRIOR BEING ELECTED OUR NEXT PRESIDENT OF THE UNITED STATES HOW THIS DEMOCRATIC SENATOR TRULY FEELS ABOUT THIS AMERICAN JUDICIAL INJUSTICE CONTINUING TO INFLICT GRAVE HARM ON THE BLACK & LATINO AMERICAN FAMILIES AND THEIR COMMUNITIES NATIONWIDE ??????

    *** WHEN GOD’S FACE BECAME VERY RED *** THE US SUPREME COURT GAVE ENEMY COMBATANTS FEDERAL APPEAL HC RIGHTS LAWYERS AND PROPER ACCESS TO US FEDERAL COURTS,AND POORER AMERICANS (MANY EVEN ON DEATH ROW) ARE DENIED PROPER FEDERAL APPEAL LEGAL REPRESENTATION TO OUR US FEDERAL COURTS OF APPEAL, AND ROTTING IN AMERICAN PRISONS NATIONWIDE ?????????

    **** INNOCENT AMERICANS ARE DENIED REAL HC RIGHTS WITH THEIR FEDERAL APPEALS ! THE AMERICAN PEOPLE ARE $LOWLY FINDING OUT HOW EA$Y IT I$ FOR MIDDLE CLA$$ AND WORKING POOR AMERICAN$ TO FALL VICTIM TO OUR U$ MONETARY JUDICIAL $Y$TEM.

    ****WHEN THE US INNOCENT WERE ABANDONED BY THE GUILTY **** The prison experts have reported that there are 100,000 innocent Americans currently being falsely imprisoned along with the 2,300,000 total US prison population nationwide.

    ***WHERE ARE AMERICA’S RELIGIOUS LEADERS ??????? Since our US Congress has never afforded poor prison inmates federal appeal legal counsel for their federal retrials,they have effectively closed the doors on these tens of thousands of innocent citizens ever being capable of possibly exonerating themselves to regain their freedom through being granted new retrials.

    This same exact unjust situation was happening in our Southern States when poor and mostly uneducated Black Americans were being falsely imprisoned for endless decades without the needed educational skills to properly submit their own written federal trial appeals.

    This devious and deceptive judicial process of making our poor and innocent prison inmates formulate and write their own federal appeal legal cases for possible retrials on their state criminal cases,is still in effect today even though everyone in our US judicial system knows that without proper legal representation, these tens of thousands of innocent prison inmates will be denied their rightful opportunities of ever being granted new trials from our federal appeal judges!!

    Sadly, the true US *legal* Federal Appeal situation that occurs when any of our uneducated American prison inmates are forced to attempt to submit their own written Federal Appeals (from our prisons nationwide) without the assistance of proper legal counsel, is that they all are in reality being denied their legitimate rights for Habeas Corpus with our US FEDERAL COURTS and will win any future Supreme Court Case concerning this injustice!

    For our judicial system and our US Congressional Leaders Of The Free World to continue to pretend that this is a real and fair opportunity for our American Middle Class and Working Poor Citizens, only delays the very needed future change of Federal Financing of all these Federal appeals becoming a normal formula of Our American judicial system.

    It was not so very long ago that Public Defenders became a Reality in this country.Prior that legal reality taking place, their were also some who thought giving anyone charged with a crime a free lawyer was a waste of taxpayers $$.

    This FACADE and HORROR of our Federal Appeal proce$$ is not worthy of the Greatest Country In The World! ***GREAT SOCIETIES THAT DO NOT PROTECT EVEN THEIR INNOCENT, BECOME THE GUILTY !

    A MUST READ ABOUT AMERICAN INJUSTICE:
    1) YAHOO 2) GOOGLE
    (MANNY GONZALES THE KID THAT EVERYONE FORGOT IN THE CA PRISON SYSTEM.)
    ** A JUDICIAL RIDE OF ONES LIFE !

    ***Someone please tell our US Congress that the GED degree that Manny Gonzales acquired in prison is not a LAW DEGREE !!!!!!

    lawyersforpooramericans@yahoo.com (424-247-2013)

  30. DOUGLAS FIELD

    TROY DAVIS, PLEASE REMEMBER THAT AMERICA IS NOT THE OLD SOUTH ~ AFRICA !!!

    A $TATE ECONOMIC BOYCOTT OF GEORGIA INTERNATIONALLY WILL OBVIOU$LY BE THE END RE$ULT OF GEORGIA DECIDING TO MURDER A PO$$IBLE INNOCENT TROY DAVI$ WITHOUT A NEW AND FAIR TRIAL ?

    US CONGRESSIONAL MEMBERS WHO ARE ALSO LAWYERS BY TRADE, CONTINUE TO DENY poorer AMERICAN’S PROPER LEGAL REPRESENTATION !!!

    THE INTERNATIONAL COMMUNITY NEEDS TO BEGIN A FORMAL INVESTIGATION INTO THESE US CONGRESSIONAL CRIMES AGAINST HUMANITY, AND HUMAN RIGHTS VIOLATIONS BEING INFLICTED ON poorer AMERICAN’S LIKE MR.TROY DAVIS OF GEORGIA !!!

    HAVING BEEN DENIED APPEAL LAWYERS FOR THREE YEARS ON DEATH ROW IN GEORGIA MR. TROY DAVIS IS NOW BEING EXECUTED FOR A CRIME HE MIGHT NOT HAVE EVEN BEEN INVOLVED WITH !!!

    SENATOR OBAMA PLEASE LET THIS COUNTRIES VOTERS KNOW YOUR FEELINGS AND THOUGHTS ABOUT A NEEDED FUTURE REPAIR AND RENOVATION OF OUR BROKEN JUDICIAL SYSTEM THAT CONTINUES TO ALLOW THE EXECUTION’S OF EVEN POSSIBLE INNOCENT AMERICAN’S LIKE TROY DAVIS OF GEORGIA ?????

    BEING THE WEALTHIEST COUNTRY IN THE WORLD SENATOR OBAMA, DON’T WE NEED AS THE LEADERS OF THE FREE WORLD TO BEGIN ONCE AGAIN TO RE-INVEST THE PROPER MONIE$ IN OUR OWN US JUDICIAL SYSTEM, ASSURING ALL OF OUR CITIZENS THEIR RIGHTS TO FAIR TRIALS WITH PROPER LEGAL REPRESENTATION ???

    DOES GOD NEED TO LOBBY OUR US CONGRESSIONAL LEADERS OF THE FREE WORLD ON BEHALF OF OUR poorer american’s SENATOR OBAMA,OR ARE YOU WATCHING OUT FOR THEM ??

    ***OUR US CONGRESS CONTINUES TO DENY MIDDLE CLASS AND WORKING POOR AMERICANS PROPER LEGAL REPRESENTATION EVEN THOUGH WRONGFUL EXECUTIONS & FALSE INCARCERATIONS CONTINUE ALL ACROSS AMERICA ???

    *** 700 BILLION $$$ AVAILABLE FOR US BAILOUT, & NO $$$ FOR ALL POORER AMERICANS PROPER LEGAL REPRESENTATION ? SENATOR OBAMA, THIS JUDICIAL INJUSTICE HAS BECOME AN AMERICAN ART FORM, AND NO LONGER CAN BE KEPT HIDDEN OR SECRET FROM THE AMERICAN PEOPLE EVEN IF CERTAIN (501c3) U$ RELIGIOU$ LEADER$ HAVE BEEN $ILENCED ??

    LETS ALL HOPE OUR MEDIA FRIENDS CONTINUE TO SHOW AN INTEREST IN REPORTING ON THIS AMERICAN HORROR FACING THESE (TENS OF THOUSANDS) FORGOTTEN AND TRAPPED POORER AMERICANS, AND HOW THIS PRESIDENTIAL CONTENDER HANDLES THIS VERY SERIOUS ISSUE FACING AMERICA’S LATINO AND BLACK AMERICAN COMMUNITIES ????

    WITH 80% OF THE BLACK AMERICAN VOTERS SAYING THEY SUPPORT SENATOR OBAMA IN THIS PRESIDENTIAL ELECTION, IT IS ONLY FAIR FOR EVERYONE TO KNOW PRIOR BEING ELECTED OUR NEXT PRESIDENT OF THE UNITED STATES HOW THIS DEMOCRATIC SENATOR TRULY FEELS ABOUT THIS AMERICAN JUDICIAL INJUSTICE CONTINUING TO INFLICT GRAVE HARM ON THE BLACK & LATINO AMERICAN FAMILIES AND THEIR COMMUNITIES NATIONWIDE ??????

    *** WHEN GOD’S FACE BECAME VERY RED *** THE US SUPREME COURT GAVE ENEMY COMBATANTS FEDERAL APPEAL HC RIGHTS LAWYERS AND PROPER ACCESS TO US FEDERAL COURTS,AND POORER AMERICANS (MANY EVEN ON DEATH ROW) ARE DENIED PROPER FEDERAL APPEAL LEGAL REPRESENTATION TO OUR US FEDERAL COURTS OF APPEAL, AND ROTTING IN AMERICAN PRISONS NATIONWIDE ?????????

    **** INNOCENT AMERICANS ARE DENIED REAL HC RIGHTS WITH THEIR FEDERAL APPEALS ! THE AMERICAN PEOPLE ARE $LOWLY FINDING OUT HOW EA$Y IT I$ FOR MIDDLE CLA$$ AND WORKING POOR AMERICAN$ TO FALL VICTIM TO OUR U$ MONETARY JUDICIAL $Y$TEM.

    ****WHEN THE US INNOCENT WERE ABANDONED BY THE GUILTY **** The prison experts have reported that there are 100,000 innocent Americans currently being falsely imprisoned along with the 2,300,000 total US prison population nationwide.

    ***WHERE ARE AMERICA’S RELIGIOUS LEADERS ??????? Since our US Congress has never afforded poor prison inmates federal appeal legal counsel for their federal retrials,they have effectively closed the doors on these tens of thousands of innocent citizens ever being capable of possibly exonerating themselves to regain their freedom through being granted new retrials.

    This same exact unjust situation was happening in our Southern States when poor and mostly uneducated Black Americans were being falsely imprisoned for endless decades without the needed educational skills to properly submit their own written federal trial appeals.

    This devious and deceptive judicial process of making our poor and innocent prison inmates formulate and write their own federal appeal legal cases for possible retrials on their state criminal cases,is still in effect today even though everyone in our US judicial system knows that without proper legal representation, these tens of thousands of innocent prison inmates will be denied their rightful opportunities of ever being granted new trials from our federal appeal judges!!

    Sadly, the true US *legal* Federal Appeal situation that occurs when any of our uneducated American prison inmates are forced to attempt to submit their own written Federal Appeals (from our prisons nationwide) without the assistance of proper legal counsel, is that they all are in reality being denied their legitimate rights for Habeas Corpus with our US FEDERAL COURTS and will win any future Supreme Court Case concerning this injustice!

    For our judicial system and our US Congressional Leaders Of The Free World to continue to pretend that this is a real and fair opportunity for our American Middle Class and Working Poor Citizens, only delays the very needed future change of Federal Financing of all these Federal appeals becoming a normal formula of Our American judicial system.

    It was not so very long ago that Public Defenders became a Reality in this country.Prior that legal reality taking place, their were also some who thought giving anyone charged with a crime a free lawyer was a waste of taxpayers $$.

    This FACADE and HORROR of our Federal Appeal proce$$ is not worthy of the Greatest Country In The World! ***GREAT SOCIETIES THAT DO NOT PROTECT EVEN THEIR INNOCENT, BECOME THE GUILTY !

    A MUST READ ABOUT AMERICAN INJUSTICE:
    1) YAHOO 2) GOOGLE
    (MANNY GONZALES THE KID THAT EVERYONE FORGOT IN THE CA PRISON SYSTEM.)
    ** A JUDICIAL RIDE OF ONES LIFE !

    ***Someone please tell our US Congress that the GED degree that Manny Gonzales acquired in prison is not a LAW DEGREE !!!!!!

    lawyersforpooramericans@yahoo.com (424-247-2013)

  31. Peter

    boo hoo. People got greedy and over-reached, buying houses they could not afford. Blame the CBC for forcing FHA to make risky loans (unlikely to be paid back) to minorities, who were too uneducated to know not to take the bait.

    You can not legislatively force some fool to make smart financial choices.

    Differently put, if the minorities who were not qualified by the CBC/FHA scam into loans they could not afford, there would be a huge outcry of ‘racism’ because blacks would not get loan approvals at the same rate as white (who have much better credit and incrome in the aggregrate, not individual level).

    Can’t win folks. But you can hate whitey!

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