Rep Mark Kirk, Republican from Illinois and candidate for US Senate, calls for the revival of a New Deal Institution: The Home Owners Loan Corporation, a government OWNED and FUNDED BANK for the purpose of MORTGAGE LOANS. Basically, a "public option" in the short run for banking to fix our mortgage crisis.
WASHINGTON – As the sub-prime mortgage crisis deepens, U.S. Rep. Mark Kirk (R-Ill.) today called for the temporary reinstitution of the Home Owners' Loan Corporation, one of Congress’s most successful efforts to protect homeowners from foreclosure in the 1930s. The Home Owners’ Loan Corporation for the 21st Century (HOLC21) would acquire defaulted loans from mortgage lenders and offer sustainable refinance options for homeowners, preventing further foreclosures. During 2008, 1.8 million sub-prime borrowers will see their adjustable rate mortgages reset upward, with increases every six months to follow.
The cash portion of the proceeds from the sale, the largest to date in AIG's ongoing restructuring efforts, will be used to redeem preferred interests with a liquidation preference of approximately $16 billion held by the Federal Reserve Bank of New York (FRBNY) in the special purpose vehicle formed to hold the interests in AIA, and to repay approximately $9 billion under the FRBNY Credit Facility.
During WWII, the Germans were bombing cities in England. Many English took to the countryside.
When they needed health care, they went to a doctor in the countryside. Being refugees, they couldn't pay. The doctors billed the UK government. The government paid. Because it was wartime and everyone had banded together for unity and the common good.
After the war was over, Britain just continued that same system, more or less.
The British system was born of common purpose, a belief in the unity of the nation, the feeling that circumstances should not deny you health care. It continues to serve those goals and ideals today.
"TARP stabilized our country’s financial system when confidence in financial markets around the world was being tested unlike any other period in our history," the bank’s president and chief executive, John Stumpf, said in a statement. "Its success also generated financial returns for taxpayers, including $1.4 billion in dividends paid to the U.S. Treasury by Wells Fargo."
"Now we’re ready to fully repay TARP in a way that serves the interests of the U.S. taxpayer, as well as our customers, team members and investors," Mr. Stumpf said.
The republicans in the Senate have delayed themselves into a buzzsaw, as MILLIONS of Americans find out that their health care insurance bills just went up hundreds of dollars a month at the time they can least afford it.
Doctors who pushed the group to oppose "don't ask, don't tell" say the policy forcing gay service members to keep their sexual orientation secret has "a chilling effect" on open communication between gays and their doctors.
Makes sense to me: as an NPR article this morning said, a doctor's note revealing homosexuality would prove a violation of DADT. I think we should wonder about a policy that has our servicemen and women guessing whether they should edit their statemetns to their own doctors.
Another interesting development concerning Hasan is that during the Presidential transition Obama’s transition team created a special task force to review Homeland security procedures and Nidal Hassan was PART OF THIS TASK FORCE, which gave him access to security procedures which could have given him the ability to move as he did at a secure military instillation. Follow this link to Appendix C "Task Force Participants." Continue until reaching page 29 and the eighth name in the left column is listed as, "Nidal Hasan Uniformed Services University School of Medicine."
Yep, that really WOULD be interesting so I followed the link, to..............a publication of George Washington University's think tank.
All the democratic programs increase, at least from the Bush years, the involvement of government and the power of government.
Health care reform, for one example, has at least a huge new amount of government control over private enterprise. It may involve a public option, basically a government run insurance company. It may involve single payer, making the government the sole insurer and responsible party for paying for your care.
Given that, why would ANY democrat say that politicians can't be trusted to do the right thing?
If you sincerely believe that the first, and preferred resort, of a politician is by nature to screw you, you don't want that program.
Well, the GOP spent a whole day wallowing in deep CONCERN over whether Obama's done enough for world peace for an award of the Nobel Prize.
Apparently they could only stand the pretense for a day. Peace of the grave is the neocon peace: deeply suspicious that anything other than Bushian war and hostility is a sell out, anyone who isn't shooting first is suspect.
And now, the RNC pushes all the buttons of xenophobia, race, fears of socialist world conspiracies and black helicopters:
You're going to be shocked at the fifth column that is ACORN and its fellow travelers.
Since the U.S. Senate voted 83-7 earlier this month to cut off funding for ACORN, the activist/voter registration group has become so controversial that some are calling for sanctions against groups associated with it.
The debate is invading the race for U.S. Senate in Illinois.
Republican U.S. Rep. Mark Kirk announced Friday he will hold a news conference calling on the U.S. Census Bureau to sever its ties to Illinois’ largest union, the Service Employees International Union, because, Kirk says, the group is too close to ACORN.
And in a completely coincidental bit of news
The union endorsed Kirk’s front-running Democratic rival for the Senate seat, Democrat Alexi Giannoulias, the previous day.
The United States is the 33rd best place in the world to be a mother , according to the 2015 State of the World's Mothers report prepared by Save the Children. And, adding insult to injury, 33rd is ...