DOJ Issues 11 Subpoenas to Financial Institutions Over Mortgage Fraud

Obama created yet another “commission” to do the job another commission is already doing. However, Obama appointed Attorney General Eric Holder, who just happens to be tied to these banks who may have committed these mortgage fraud schemes.

WASHINGTON (Reuters) – The Justice Department issued civil subpoenas to 11 financial institutions as part of a new effort to investigate misconduct in the packaging and sale of home loans to investors, Attorney General Eric Holder said on Friday.

Holder declined to provide specifics, including the names of the firms.

“We are wasting no time in aggressively pursuing any and all leads,” Holder said at a news conference announcing details of a new working group to investigate misconduct in the residential mortgage-backed securities (RMBS) market, “you can expect more to follow.”

President Barack Obama said he directed Holder to create the new unit in his State of the Union speech late Tuesday, saying it was needed to “help turn the page on an era of recklessness.”

On Friday a slew of federal and state officials appeared at the news conference to provide details about the new group.

Housed within an earlier financial fraud task force that Obama created in 2009, it is expected to be staffed with around 50 attorneys, analysts and agents, officials said.

Two task forces?

Some skeptics have questioned whether the new group is largely a political move because the other fraud task force already exists.

Also, the Obama administration has received heat from left-leaning activist groups that believe a separate effort to investigate misconduct in processing foreclosures and servicing home loans may not be rigorous enough to extract a meaningful settlement.

In exchange for providing up to $25 billion in housing relief, much in the form of cutting mortgage debt for distressed borrowers, the top U.S. banks are expected to put behind them government lawsuits about lending and servicing abuses – but not securitization claims.

The banks involved in the discussions include Bank of America, Wells Fargo & Co, JPMorgan Chase & Co, Citigroup and Ally Financial Inc.

All who gave Obama more campaign cash than any other candidate in history.

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Darrell Issa Demands Access to Another US Attorney Who Supervised the Fast & Furious Gun Trafficking Scandal

Holder and company are trying their damnedest to hide the truth about the Obama administration’s participation in the Fast and Furious gun trafficking scandal that has already killed one known American, Border Agent Brian Terry, and an untold number of Mexicans. One US Attorney is already pleading the 5th Amendment. Now Darrell Issa (R-Calif) is demanding access to another US Attorney tied to the scheme.

WASHINGTON, D.C. – Oversight and Government Reform Committee Chairman Darrell Issa demanded in letter to Attorney General Holder that the Justice Department make Arizona U.S. Attorney’s Office Assistant United States Attorney Michael Morrissey available to speak with Committee investigators about his role in and knowledge of Operation Fast and Furious. His supervisor, Patrick Cunningham, has stated he will exercise his Fifth Amendment and refuse to answer any questions pertaining to Operation Fast and Furious – such an assertion is extremely rare and suggests possible criminal culpability on the part of a high ranking Justice Department official. Morrissey, who reported directly to Cunningham’s and was intimately involved with Operation Fast and Furious.

“Since August, the Department has identified Patrick Cunningham as the best person in the U.S. Attorney’s Office to provide information about Fast and Furious to the Committee,” Issa said in his letter to Holder. “The Department has refused to make Michael Morrissey and Emory Hurley, both Assistant United States Attorneys supervised by Mr. Cunningham, available to speak with the Committee, citing a policy of not making “line attorneys” available for congressional scrutiny. Mr. Morrissey, however, was Mr. Hurley’s direct supervisor, and an integral part of Fast and Furious. Importantly, both Morrissey and Hurley are unique in their possession of key factual knowledge about Fast and Furious not readily available from any other source.”

The Chairman also reiterated that the Justice Department still has not complied with the subpoenas issued to date, including subpoenaed documents from Cunningham, Morrissey and Hurley.

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Be sure to check out the Fast and Furious Investigative website>>>

3 Years and It’s Still the Same Thing…

The Numbers Don’t Lie…Numbers Before Obama and After Obama

As I continue to point out to all the Obama-fluffers in the world, the numbers don’t lie.

America Before President Obama Took Office and Now

 

	Before	Now	Change
Number of Unemployed1	12.0 Million	13.1 Million	+9%
Long-Term Unemployed2	2.7 Million	5.6 Million	+107%
Unemployment Rate3	7.8%	8.5%	+9%
“High Unemployment” States4	22	43	+95%
Misery Index5	7.83	11.46	+46%
Price of Gas6	$1.85	$3.39	+83%
“Typical” Monthly Family Food Cost7	$974	$1,013	+4%
Median Value of Single-Family Home8	$196,600	$169,100	-14%
Rate of Mortgage Delinquencies9	6.62%	10.23%	+55%
U.S. National Debt10	$10.6 Trillion	$15.2 Trillion	+43%

President Obama Leaves Event Promoting “Clean Energy” in a Motorcade of 22 Fossil-Fueled Vehicles (Video)

Hypocrite…

That’s how Obama rolls. Then the fleet of vehicles goes to the airport where Obama boards that fossil-fueled 747.

Obama Is Creating a Nation of Dependency…Food Stamps Usage Up 45%

 

Obama is using the Cloward-Piven Strategy. Overwhelm the system so it crashes.

Direct payments. The amount of money the federal government hands out in direct payments to individuals steadily increased over the past four decades, but shot up under Obama, climbing by almost $600 billion — a 32% increase — in his first three years. And Obama’s last budget called for these payments to climb another $500 billion by 2016, at which point they would account for fully two-thirds of all federal spending.

People getting benefits. According to the Census Bureau 49% now live in homes where at least one person gets a federal benefit — Social Security, workers comp, unemployment, subsidized housing, and the like. That’s up from 44% the year before Obama took office, and way up from 1983, when fewer than a third were government beneficiaries.

Food stamps. This year, more than 46 million (15% of all Americans) will get food stamps. That’s 45% higher than when Obama took office, and twice as high as the average for the previous 40 years. This surge was driven in part by the recession, but also because Obama boosted the benefit amount as part of his stimulus plan.

Disability. The number of people on Social Security disability has steadily climbed since the 1970s, thanks mainly to easier eligibility rules. But their numbers jumped 10% in Obama’s first two years in office, according to the Social Security Administration. That sharp rise was due largely to meager job prospects since the recession ended in 2009. When employment opportunities are scarce, experts note, many who could otherwise work sign up for disability benefits instead.

H/T to Investors

2011 Real GDP a Pathetic 1.7%

It’s OK America. Debbie Wasserman Shultz says the economy is turning around as the GDP numbers continue their downward revisions and the Federal Reserve is going to print a 3rd round of dollars to prop up this “recovering” economy.

That’s the final, pathetic growth number for 2011.

From Business Insider:

From the just-released GDP report:

Real GDP increased 1.7 percent in 2011 (that is, from the 2010 annual level to the 2011 annual level), compared with an increase of 3.0 percent in 2010.

The increase in real GDP in 2011 primarily reflected positive contributions from personal consumption expenditures (PCE), exports, and nonresidential fixed investment that were partly offset by negative contributions from state and local government spending, private inventory investment, and federal government spending.  Imports, which are a subtraction in the calculation of GDP, increased.

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Obama Claims He’s Not Campaigning…As He Travels Across the US Giving Campaign Speeches

Obama lies so much he believes his own lies. He wants his gullible followers to believe he isn’t campaigning while out giving campaign speeches in key swing states that are important to his reelection efforts. Obama’s next bumper sticker should be “Don’t believe your lying eyes.”

From ABCNews:

LAS VEGAS – President Obama refused to pick favorites in the Republican field or wade deeper into the heated primary-season rhetoric, declaring, “Until the Republicans have a nominee, we don’t have a campaign.”

In an interview with Spanish language network Univision, recorded in Arizona one day after his Tuesday State of the Union address, the president was challenged to defend his own campaign-style speeches as he travels the country. He denied that he is campaigning.

“My general instinct is to focus on doing my job because my attitude is, if I’m doing my job well, people will recognize it, and the politics will follow,” he said. “Some people may interpret that as campaigning. I consider that to be important to my leadership in governing this country.”

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According to Gallup, Obama is One of the Most Polarizing Presidents in US History

Didn’t Obama proclaim he would be the first “post-partisan” president?

From Politico:

President Barack Obama’s third year in office elicited some of the most polarized job approval ratings ever, as the differences between Republican and Democratic views of the president stood at near record highs, a new survey shows.

In 2011, 80 percent of Democrats approved of Obama’s job performance, compared to 12 percent of Republicans, according to Gallup.

The gap of 68 percent is the fourth-highest on record, going back to the Eisenhower administration, the pollster said.

Only President George W. Bush’s fourth, fifth and sixth years in office showed higher degrees of polarization.

It appears that the past decade has seen some of the most polarized views on the presidency. Together, the Bush and Obama administrations account for the seven most polarized years on record, and eight of the Top 10.

Despite all this, the polarization is likely to get even worse in 2012.

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Joe Biden’s Taliban Flip-Flop (Video)

As a Senator, Joe Biden said both al-Qaeda and the Taliban attacked the U.S. on 9/11. However, as Vice President, Joe Biden has declared that the same Taliban is now “not an enemy.” It’s no wonder Obama picked Joe. He’s a flip-flopper as well.