Fannie and Freddie Start Returning Fraudulent Mortgages to Banks, But Crime Goes Unpunished
By Numerian Posted by Michael Collins
Citizens carry the load for bad loans by Wall Street
In a February regulatory filing with the SEC, Fannie Mae and Freddie Mac, now owned by the federal government, say they intend to return $21 billion in home mortgages to banks in 2010. Four commercial banks now dominate the home mortgage market: Citigroup, JP Morgan Chase, Bank of America, and Wells Fargo, and they will receive the bulk of these repurchases. Since the banks sold these mortgages to these agencies for full value, they must buy them back at full value, but at least one bank, JP Morgan Chase, says these mortgages will then be immediately written down by 50%.
PermalinkWhy Switzerland Is Still Free and America Is Not
by Ron Holland
The American Time magazine article headline asks, "Will Switzerland Vote to Ban Minarets on Mosques?"
Swiss citizens are becoming concerned about the threat that Islam presents to their traditional culture, economy and religious institutions. As an American, I know how I would vote were I Swiss but the decision will be made by the Swiss electorate as they have this referendum right on all issues.
In Switzerland, the people still rule and have the ultimate right to decide decisions above the government or parliament. Through the right of referendum they can cancel legislation and with the initiative they can pass or create legislative action on issues parliament refuses to act upon.
The bias and closed statist views shown in the article is business as usual for the US media elites out to protect the American political establishment and are so evident in this headline and article. It isn’t the question they asked but rather the question they didn’t dare ask is the "700-lb gorilla in the room."
Targeting Israeli Apartheid
by Stephen Lendman
Reports like the Cape Town, South Africa-based Human Sciences Research Council's (HSRC) May 2009 one titled, "Occupation, Colonialism, Apartheid" highlight what many others understand, including former UN Special Human Rights Rapporteur for Occupied Palestine, John Dugard, stating in January 2007:
"Israel is clearly in military occupation of the OPT (Occupied Palestinian Territories). At the same time, elements of the occupation constitute forms of colonialism and of apartheid, which are contrary to international law."
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