Richmond, CA aims to make Wall St pay for the housing bubble

Richmond, California, … is spearheading a plan (paywall) to expropriate mortgages from the banks and trusts that hold them, so they cannot force any more foreclosures. Although it could expand the scope of this already controversial public policy, known as “eminent domain,” some think expropriating mortgages may be the best way to make the US financial-services industry accountable for causing a housing bubble and financial crisis.

The reasoning behind the expropriations is as follows. When a homeowner cannot meet mortgage payments or is “underwater”—owes more money to the bank than the home is worth—the bank has little leeway to offer easier payment terms, because mortgages are generally packaged up and sold to investors as mortgage-backed securities. These investors have little incentive to bend; in fact, it makes more sense for them to drag out lengthy foreclosure proceedings, because banks and other mortgage servicers have been able to manipulate federal programs meant to help homeowners get back on their feet in the process.

That’s part of why the delinquency rate on home loans—the percentage of homeowners late on their payments and at risk of foreclosure—has fallen only slightly since it peaked at at 11.3% in 2010. In the first quarter of 2013, 9.7% of single-family residential mortgages were delinquent. Mortgage servicer Fannie Mae estimates that 7.5 to 9.5 million homes (pdf) are likely to go into delinquency in the next few years.

delinquency rate single family homes q1 2013 us

Foreclosures—particularly on a large scale—are terrible for communities. Homeowners frequently gut and abandon their homes, which soon become targets for squatters. Crime generally joins that. So Richmond is at serious risk; about half of its homeowners are underwater on their loans.

The city’s plan is therefore to use eminent domain to forcibly buy mortgages from banks and bond investors. Then—with the help of San-Francisco-based investment firm Mortgage Resolution Partners—it will reduce the principal homeowners have left to pay and refinance the rest, modifying the mortgages in a way banks can’t or won’t.

Banks, asset managers, and other financial services firms have been fighting tooth and nail against this policy ever since a variant of the idea was first presented in 2008. Their reasoning is hardly complicated; local governments would determine the fair values of mortgages (pdf) based not only on the initial value but the homeowner’s likelihood of default, and the banks will have to put the losses on their books. …

Ancient history: 9/11 “Hijackers” Trained on U.S. Military Bases

In case you missed it the first time around:

In original reports (i.e., not simply going off the reports of other news agencies) by Newsweek, the Los Angeles Times, the New York Times, the Washington Post, Associated Press, and Gannett News Service, the below accused 9/11 hijackers have been named as having trained at U.S. military bases:


  • Saeed Alghamdi (United Airlines 93)
  • Ahmed Alnami (United Airlines 93)
  • Ahmed Alghamdi (United Airlines 175)
  • Hamza Alghamdi (United Airlines 175)
  • Mohamed Atta (American Airlines 11)
  • Abdulaziz Alomari (American Airlines 11)

Below are some of the details from said reports: …

Cruelty in Maternity Wards: Fifty Years Later

Abstract: Fifty years have passed since a scandal broke over inhumane treatment of laboring women in U.S. hospitals, yet first-person and eyewitness reports document that medical care providers continue to subject childbearing women to verbal and physical abuse and even to what would constitute sexual assault in any other context. Women frequently are denied their right to make informed decisions about care and may be punished for attempting to assert their right to refusal. Mistreatment is not uncommon and persists because of factors inherent to hospital social culture. Concerted action on the part of all stakeholders will be required to bring about systemic reform.

“Cruelty in Maternity Wards” was the title of a shocking article published just over 50 years ago in Ladies’ Home Journal in which nurses and women told stories of inhumane treatment in labor and delivery wards during childbirth (Schultz, 1958). Stories included women being strapped down for hours in the lithotomy position, a woman having her legs tied together to prevent birth while her obstetrician had dinner, women being struck and threatened with the possibility of giving birth to a dead or brain damaged baby for crying out in pain, and a doctor cutting and suturing episiotomies without anesthetic (he had once nearly lost a patient to an overdose) while having the nurse stifle the woman’s cries with a mask.

The article shook the country and triggered a tsunami of childbirth reform that included the founding of the American Society for Psychoprophylaxis in Obstetrics, now known as Lamaze International. Nonetheless, as Susan Hodges (2009) recently noted in her guest editorial published in The Journal of Perinatal Education, despite enormous differences in labor and delivery management, decades later, inhumane treatment remains distressingly common. American childbearing women still suffer mistreatment at the hands of care providers, ranging from failure to provide supportive care to disrespect and insensitivity to denial of women’s right to make informed decisions to common use of harmful medical interventions to outright verbal, physical, and even sexual assault. Furthermore, the more extreme examples are not aberrations but merely the far end of the spectrum. Abuse, moreover, results from factors inherent to the system, which increases the difficulties of implementing reforms.


According to (an online resource devoted to helping individuals recognize, address, and prevent domestic violence), domestic violence and emotional abuse encompass “name-calling or putdowns,” “keeping a partner from contacting their family or friends,” “actual or threatened physical harm,” “intimidation,” and “sexual assault” (“Domestic Violence Definition,” 2009, para. 2). In all cases, the intent is to gain power over and control the victim. One could add that perpetrators, obstetric staff or otherwise, feel entitled to exert this control on grounds of the victim’s inferior position vis-à-vis the perpetrator as the following illustrate: …

Back to Eden Film review

If you’ve been paying attention to what’s happening in the world you know that there is a time coming when the price of food will increase radically and food availability will decrease. If you have the space for a garden, a practical system for gardening could be of economical value, or even survival necessity. Years ago, I lived in a cooperative where we exchanged work at an organic farm for organic food. So I have a little experience with practical gardening techniques. There is a movie called Back to Eden that really explains a practical system that once in place is relatively labor free. If you have even limited resources you can set up this system and it will operate on minimal watering. You have to see this film, it’s absolutely revolutionary. This is the way to decentralize food distribution. You can find out about it at

FEMA Preparing for Something Big

FEMA recently contacted My Patriot Supply, a provider of bulk food reserves, requesting “immediate delivery” of truckloads of food within a 24 hour period. Instead of soliciting for the food in the normal manner via the Federal Business Opportunities website and thereby saving money, FEMA is now directly contacting suppliers in order to secure overnight deliveries of bulk food. The snapshot above shows one of the emails My Patriot Supply received from FEMA.

While it’s certainly not unusual for FEMA to be buying storable food, the rushed manner with which the federal agency is now conducting such business has raised a few eyebrows, prompting the owner of My Patriot Supply to ask, “Why the sudden sense of urgency? What do they know that we do not?”

“I’m not one to cry that the sky is always falling, but when DHS/FEMA make a move to quietly buy up emergency food supplies and ask how much we can ship within 24 hours…I think this is far enough outside the realm of what is “normal” to beg some questions,“ remarked the company’s owner.

“In recent years the Federal Emergency Management Agency (FEMA) has been regionalizing disaster supplies and rapidly procuring hundreds of millions of ready-to-eat meals, blankets, and body bags. Coupled with the Department of Homeland Security’s suspiciously massive purchases of ammunition, firearms, and riot gear, it is becoming increasingly clear that the U.S. government is positioning itself in advance of an as of yet unknown widespread calamity,” writes Mac Slavo.

Indeed, FEMA is not the only branch of the Department of Homeland Security demanding the immediate delivery of provisions within as quick a time frame as possible.

As we highlighted back in May, the DHS itself released a market survey asking companies if they were able to provide 2 million rounds of ammunition within a 30-60 day period….

What they’re preparing for is the controlled implosion of the economy to coincide with whatever hellish false flag attack they’ve cooked up.  We the people have built an empire for them and now they’re ready to take possession of it.

Boston Globe Tweeted Re: Bombing Exercise 2 Hours Earlier

12:53 PM – 15 Apr 13
Officials: There will be a controlled explosion opposite the library within one minute as part of bomb squad activities.

And now it seems the boston bombing WAS carried out by a “right wing gun toting constitutionalist conspiracy theorist” after all.  But was he hooked on crazy ideas about government corruption and misconduct before or after he was recruited and trained by the CIA in chechnya?

Look for the rest of the brain washers to parrot this new propaganda line in a bid to regain the  momentum they lost in the initial bungling.

Interesting site:

Scientocracy: science of democracy #7

There are three main rules to joining the Illuminati secret society: 1. Complete secrecy, 2. obedience to their hierarchy, and 3. no division among members. This being the case one might think that there would be no chance of Illuminati members betraying one another. They may betray all outsiders, but not each other. However, joining the Illuminati isn’t like joining an exclusive country club–it’s like entering a prison from which there is no escape. The leadership of the Illuminati are generationally wealthy aristocrats who really just use those who are below them in the hierarchy. You can’t rise up into the hierarchy, you have to be born into it. Think of the prisoner dilemma in game’s theory. The prisoners always betray each other even when there really isn’t a reason to. The lower ranking Illuminati aren’t loyal to each other. Anyone steps out of line and he gets reported to the hierarchy. The way that the generationally wealthy get that way isn’t by being hard working or smart but through the Judas Principle; this means that you get other people to trust you then you betray them when it is most profitable to do so. The movie, SOCIAL NETWORK, tells the story of a young man who becomes a billionaire by systematically betraying his friends and anyone he partners with. The betrayals of the Rothchilds and the Rockefellers are legendary. And the power of the New World Order/Illuminati is based on betrayal. Freemasons are told that when the New World Order becomes an all powerful world government, they will be the favored insiders. But there are plans to betray the Freemasons when the time is right. The same is true of every group that cooperates with the New World Order agenda. The Jewish people will be the chosen ones, the muslims will take over the world, China will become the new world superpower, conservative Christians will spread the gospel to all corners of the world, atheistic communism will be the new world paradigm, Luciferians of the world unite. Everyone is lied to by the New World Order. Even the high ranking wealthy aristocrats all have plans to betray each other, even thou they all act like friends now. You may have noticed that the so called 1% movement was funded by wealthy interests. This is because it was a psy-op. The way to prevent division among the wealthy is to get them to think that the other 99% is out to get them. Therefore all the wealthy have to pull their wagons into a circle and be loyal to one another. But this is a false paradigm. The real threat to the wealthy isn’t the middle-class or the poor. The real threat to the average multi-millionaire is the inbred, generational billionaires whose wealth is built on betrayal and whose power is based in criminal secret societies. Even the members of the Committee, the all powerful rulers of the New World Order/Illuminati must in the end betray each other. They are like persons in a lifeboat who because of the necessity of their situation are loyal and cooperative with one another. But when their situation changes, as it must, their loyalty to each other will end. This is the problem of internal entropy within the ruling elite. The secrecy and amorality which has become the basis of their great power cannot help but to destroy them in the end. This isn’t just wishful thinking on my part–this is more than a theory–it is a mathematical certainty that the New World Order/Illuminati will destroy itself. I have enough insider information to know that this is the unavoidable fate of the New World Order empire–powerful thou it is right now. Even the most intelligent members of the Committee know this to be true. This global plutocracy will systematically fall apart. In order to save civilization, effective democracies must be reasserted into the wake of the failing plutocracy. This is where the Scientific Activist comes in. Scientocracy can be used to awaken people to the harm caused by the global plutocracy, and it can be used to build up effective democracies. I understand why some people don’t like the term Scientocracy. They fear it will be a soulless form of democracy based on amoral, atheistic scientism. But I don’t believe in Scientism. I believe in God. I just know from history that Religionism can’t be an effective form of government. People of differing faiths can work together to create a moral form of secular democracy. We may all conceive of God in different ways, but all who love God have good hearts, and people of good heart can make democracy work. Science doesn’t have all the answers. But science does create useful tools. The Technocrats serve their plutocratic masters using some of these tools. The Scientific Activist needs to use the tools of science to make international democracy work. This is the high purpose of Scientocracy. There is information in the behavioral sciences that can be applied in benevolent ways. Neurology, biology, and quantum physics give insight into the interconnection of all human beings and the interdependence of all life. Computer technology can be used to create new disciplines of political science in which the problems of running a large democracy can be solved. Consider the potentials of game’s theory, chaos theory, complexity theory, and other new mathematical disciplines. Stop and think for a moment what happened after the fall of the empire created by Alexander the Great; instead of a single unified empire, a collection of independent nations emerged in the regions once conquered by Alexander. But these independent nations remained interconnected through trade and cultural exchange. This resulted in one of the most creative cultural eras in the history of the world. After the fall of the New World Order/Illuminati, there will also be the potential to create an era of positive internationalism based on a standardized form of benevolent democracy. A science of democracy (whether or not it is called Scientocracy) will be essential to creating such a world.

American Nuclear Power Fizzles, Pops, Smolders

Even though the American government has done everything possible to encourage nuclear power – by wholly subsidizing nuclear power, reducing safety standards after Fukushima, forcing Japan to re-start its nuclear program, covering up the severity of the Fukushima accident, raising acceptable radiation limits and agreeing to buy radioactive Japanese seafood – the so-called “nuclear renaissance” is over in the U.S. (and worldwide).

Duke Energy charged its ratepayers $1.5 billion dollars to build a nuclear power plant in Florida, and then pulled the plug … and refused to refund the money to its ratepayers.

An attempt to secretly ramp up production at the San Onofre plant in California caused massive problems at the plant.  An internal letter reveals that the plant operator knew of defects at the crippled reactors … but misled federal regulators to get and expedited license.  A judge has now permanently shut down the plant.

Virtually all other American nuclear rectors have suffered problem after problem, and plans for new plans have been mothballed.

The problem is that America’s nuclear reactors are old … and are falling apart piece by piece.

But – even after the Fukushima meltdown – regulators have reduced safety standards.

The Nuclear Regulator Commission say that the risk of a major meltdown at U.S. nuclear reactors is much higher than it was at Fukushima (and Fukushima is worse than ever.)…

We’ve sounded the alarm for years that a large solar flare – like the one we had in 1859 – could cause worldwide nuclear meltdowns … and numerous other problems.

2 weeks ago, we just barely dodged the bullet.

Washington Examiner reports:

The earth barely missed taking a massive solar punch in the teeth two weeks ago, an “electromagnetic pulse” so big that it could have knocked out power, cars and iPhones throughout the United States….

It would cost a pittance to protect our nuclear plants from such a flare.

But it’s hard to get politicians’ attention when they’re focused on throwing money at corporate welfare queens, insane military and security boondoggles and pork, harmful quantitative easingunnecessarynuclear subsidies,  the failed war on drugs, and other frivolities.

Transparency in all things