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SYNDICATED COLUMN: Lose Your House, Collect $300

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Ted Rall

Why Aren’t Rioters Burning Down the Banks?

One in ten Americans take such antidepressants as Prozac and Paxil. Among those in their 40s and 50s, it’s 23%. Maybe that’s why we’re so passive.

Like the blissed-out soma-sucking drones of Huxley’s “Brave New World,” we must be too drugged to feel, much less express, rage. How else to explain that furious mobs haven’t burned the banks to the ground?

Last week, as the media ginned up empty speculation about Hillary Clinton’s presidential prospects, and wallowed in nuclear cognitive dissonance — Iran, which doesn’t have nukes and says it doesn’t want them, is repeatedly called a grave threat worth going to war over, while North Korea, which does have them and won’t stop threatening to turn the West Coast of the U.S. into a “sea of fire,” is dismissed as empty bluster, nothing to worry about — the Office of the Comptroller of the Currency and the Federal Reserve released the details of the settlement between the Obama Administration and the big banks over the illegal foreclosure scandal.

Citibank, JPMorgan Chase, Bank of America, Wells Fargo and other major home mortgage lenders foreclosed upon and evicted millions of homeowners between the start of the housing collapse in 2007 and 2011. Millions of families became homeless, including 2.3 million children. The vast majority of these Americans are still struggling; many fell into poverty from which they will never escape.

Disgusting, amazing, yet true: the banks had no legal right to evict these people. In many cases, the banks didn’t have basic paperwork, like the original deed to the house. They resorted to “robo-signing” boiler room operations to churn out falsified and forged eviction papers. In others cases, people could have kept their homes if they’d been allowed to refinance — their right under federal law — but the banks illegally refused, giving them the runaround, repeatedly asking for the same paperwork they’d already sent in. Soldiers fighting in Afghanistan and Iraq, protected from foreclosure under U.S. law, came home to find their homes resold at auction. In other cases, banks even repossessed homes where the homeowner had never missed a mortgage payment.

The foreclosure scandal helped spark the Occupy Wall Street movement.

Promising justice and compensation for the victims, President Obama’s Justice Department joined lawsuits filed by the attorneys general of several states.

Last year, Obama announced that the government had concluded a “landmark settlement” with the banks that would “deliver some measure of justice for those families that have been victims of their abusive practices.” The Politico newspaper called the $26 billion deal “a big win for the White House.” $26 billion. Sounds impressive, right?

So…the envelope, please.

How much will the banks have to pay? What will people whose homes were stolen — there is no other word — receive? Now we know the details.

Remember what we’re talking about. Your house is your biggest asset. You own tens of thousands, in some cases hundreds of thousands of dollars in equity. One morning the sheriff comes. He throws you and your family out on the street. Your possessions are dumped on the lawn. You have nowhere to go. Your kids are crying. If you were struggling before, now you’re completely screwed. And the bank that did it had no legal basis whatsoever to do what they did.

They took your house, sold it, and pocketed the profits.

What would happen to you if you walked into Tiffany’s and stole a $200,000 necklace?

The details:

  • Even though they qualified for federal loan modifications, the banks seized 1.1 million homes, making 1.1 million families homeless after they were approved for refinancing. Since the average foreclosed home was worth $191,000, the banks stole $210 billion in homes. Under the “landmark settlement,” these wrongfully evicted Americans will receive $300 or $500 each, the value of a modest night out at a nice restaurant in Manhattan (two tenths of one percent of their loss).
  • 900,000 borrowers who were entitled under Obama’s Make Home Affordable program to refinancing were denied help and lost their homes. They get $300 or $600.
  • 420,000 homeowners who lost their homes while the banks intentionally dithered and “lost” their paperwork get $400 or $800.
  • 28,000 families who were entitled to protection against foreclosure under federal bankruptcy law, but got thrown out of their homes anyway, get $3,750 to $62,500.
  • 1,100 soldiers entitled to protection against foreclosure because of their military status get $125,000.
  • 53 families who weren’t late on their mortgages, never missed a payment, but got thrown out anyway, get $125,000.

So we’ve got more than 2.4 million families — that’s 5 million people — whose homes got bogarted by scumbag banksters. They’re getting a thousand bucks each on average. A thousand bucks for a two hundred thousand dollar theft! Not to mention the heartbreak and stress they suffered.

Why aren’t those five million people stringing up bank execs from telephone poles? It’s gotta be the Paxil.

But what really gets me is the 53 families who are getting $125,000 payouts for losing homes they were 100% up to date on.

Even if you’re a heartless right-winger, you’ve got to have a problem with a bank taking your house when you never missed a payment. Sorry, but these are multinational, multibillion dollar banks. They should pay these families tens of millions of dollars each.

Those 53 families should own Citibank, JPMorgan Chase, Bank of America and Wells Fargo.

Some perspective:

Citigroup CEO Vikram Pandit received $260 million in pay between 2007 and 2012, the height of the foreclosure scandal.

In 2011 alone, JPMorgan Chase CEO Jamie Dimon was given $23 million. In 2012, the company’s board of directors “punished” him for a $6 billion loss in derivatives trading by paying him “merely” $18.7 million.

In 2012 alone, Bank of America paid CEO Brian Moynihan $12 million; Wells Fargo paid $23 million to CEO John Stumpf.

Not bad for some of the worst criminals in history.

That’s how things work in the United States: the criminals get the big payouts. The people whose lives they destroy get $300.

(Ted Rall’s website is tedrall.com. His book “After We Kill You, We Will Welcome You Back As Honored Guests: Unembedded in Afghanistan” will be released in November by Farrar, Straus & Giroux.)

COPYRIGHT 2013 TED RALL

Rise of the Econotraitors

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Ted Rall

Both major political parties agree that deficit-reduction is suddenly the nation’s top priority. As budget cuts risk plunging the economy even further into recession/depression, no one stops to ask: why now?

Mutual Assured Governance

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Ted Rall

One year ago, Congressional Democrats and Republicans put into motion a time-bomb that would force them to come to terms over the federal budget: “the fiscal cliff” of across-the-board federal budget cuts, harsh austerity, just when the economy might be starting to recover.

SYNDICATED COLUMN: Will the Next 9/11 Arrive via Drone?

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Ted Rall

Aggressive Drone Wars Set a Dangerous Precedent

There’s no denying it: we Americans, we have a lot of nerve.

We love to pick fights, but when someone punches back, man, the whining never stops. And boy, do we love to escalate. Nuclear weapons? We invented the suckers, used them not once but twice – the only country that ever has – the only anybody who ever has – yet we have the balls to slap economic sabotage on the Iranians and North Koreans and smear them as “rogue states” for even thinking about trying to get their own. Which these nations only want – irony alert – because they’re afraid of us.

You know the pattern. We escalate the arms race with some nifty new gadget devilishly designed to kill and maim more efficiently and effectively, then we deploy brute economic and military force (along with wildly hypocritical propaganda about how we’re nice and peaceful and the most trustworthy bunch around) to keep those fancy new weapons all to ourselves for as long as possible. Like cyber warfare. We started it.

The first major state-against-state – completely unprovoked – first strike in cyberspace was the Stuxnet virus unleashed against Iranian nuclear power facilities. A joint American-Israeli effort, it wasn’t enough for us to mess with the Iranians. We had to gloat.

Now it’s drones. Beginning in 2004 with George W. Bush, the drone warfare program against the peoples of Afghanistan, Pakistan, Yemen, Somalia, Ethiopia and God knows where else was greatly escalated by an Obama administration marketing itself as a regime ending two wars in public (though not really) while it secretly expands America’s military footprint.

And jokes about it.

Operating as usual in full-on bully mode, the U.S. blithely acts as though it’s entitled to the perpetual exclusive right to invade other nation’s sovereign airspace at will. Rather than assume the dignified posture of silence or the embarrassed sheep business of a kid who got caught in the cookie jar, Obama officials even had the gall to get all sassy and file a formal diplomatic protest after the Iranians shot at one of their spy Predators in November. In a different world, one where Iran had the world’s largest military and was the world’s undisputed number-one arms dealer, the Islamic Republic could have made a credible case under international law for war against the U.S.

In an ideal world – i.e., the kind of society people of goodwill work to create – these devices would be illegal under international law. Like landmines, drones do a lot more harm than good. You’d might as well declare the First Amendment dead and gone now that private corporations, the FBI, CIA, local police and just about anyone else can scan the crowds at antigovernment protests and identify demonstrators with facial recognition software. Who is going to dare to make a radical statement now? As it is, you can’t count on cops not to shoot unarmed African-American men. How many more innocent civilians are going to die due to the faulty judgment of a drone pilot miles away? As the first country to develop drone technology, the U.S. had the chance to keep this genie stuffed inside its bottle; instead, we let the monster loose and told it to run wild.

It doesn’t take a genius military strategist to worry about drone weapons proliferation. The technology is relatively simple and cheap, so cheap that soldiers occupying Afghanistan use throwaway six-pound mini-drones slightly larger than paper airplanes to see what’s around the next mountain.

The FAA is rushing to approve licenses to “tens of thousands of police, fire and other government agencies able to afford drones lighter than traditional aircraft and costing as little as $300,” reports The New York Times, including everything from “remote-controlled planes as big as jetliners to camera-toting hoverers called Nano Hummingbirds that weigh 19 grams.” Police departments from Seattle to Gadsden, Alabama have already bought these creepy devices. And it’s now possible for a private citizen to buy his own drone for $300. A peeping Tom’s dream!

It was only a matter of time – not much time – before other countries followed suit. Which prompts two questions.

What’s to stop a hostile nation-state from attacking the United States with drones?

What if terrorists get drones?

Answer to the first question first: Nothing can stop a nation from Hellfiring us. While there are practical and economic barriers to entry that reduce nuclear proliferation, even the poorest nations can develop a scary drone program. Israel and its American ally claim to be terrified of the prospect of an Iranian nuclear attack against Tel Aviv, but the threat of a conventional weapons attack via drone is really what should be keeping policymakers up at night. Iran unveiled its Shahed 129 drone plane, a device that can fly 24 hours in a row, in September. That’s the one they plan to export. In September an Iranian drone launched from Lebanon successfully took pictures of Israeli military facilities.

The trouble isn’t just the drones themselves. It’s how the United States uses them: aggressively, prolifically, violently and with little concern for legal or diplomatic niceties. “Skip the drone debate, just kill the terrorists before they kill us,” reads the headline of a FoxNews piece by Erick Erickson, one of the Right’s most reliable cretins. But it’s not that simple. When the United States, the first nation to develop and deploy drones for surveillance and military attack purposes, asserts the right to “defend” itself by looking anywhere it wants and blowing up anyone it feels like, including its own citizens and people who have never expressed the slightest desire to attack the United States, it sets a precedent.

“More than 50 nations have or are trying to get [drone] technology,” notes The Times. “The United States will set the standard for them all.” Osama bin Laden said he wouldn’t have hesitated to use a nuke against the U.S. because Hiroshima and Nagasaki were civilian targets. Using the same reasoning as the Obama administration, why wouldn’t the government of Yemen be legally justified to deploy Yemeni drones over American airspace and use them to blow up any Americans or anyone else they felt like?

We don’t hold back. Why should anybody else?

While a nation-state might feel constrained by the international community, its allies or domestic public opinion from attacking civilian targets in the United States, an underground resistance organization would be far less likely to refrain from using drones to make a political statement and/or wage remote-control guerrilla warfare. Even terrorist groups care about PR – but, like bin Laden, they could easily make the case that we have it coming.

Though some commentators – mainly and interestingly, liberals aligned with the Obama administration, which makes one wonder if they’d change sides after a GOP electoral sweep – pooh-pooh the terrorist drone threat, this is one time when the smoke rising from the ashes of buildings in an American city isn’t a remote (no pun intended) possibility created by a fevered theorist but rather an absolute certainty. It isn’t a matter of if we’ll get hit by drones. It’s a matter of when.

(Ted Rall’s website is tedrall.com. His book “After We Kill You, We Will Welcome You Back As Honored Guests: Unembedded in Afghanistan” will be released in November by Farrar, Straus & Giroux.)

COPYRIGHT 2013 TED RALL

SYNDICATED COLUMN: Factchecking the Factcheckers

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Ted Rall

In a Media Without Real Journalists, Lies Become True

When fact-checking organizations like Politifact and Factcheck.org appeared a few years ago, they seemed like perfect antidotes to a lazy, corrupt and broke corporate media unable and/or unwilling to hold politicians to account for their lies. Cue Murphy’s Law: Rather than set a higher standard, independent fact-checkers gave mainstream journalists more excuses not to work.

“Perhaps the most jarring aspect of media factchecking is that many reporters see it as someone else’s job,” Peter Hart and Julie Hollar wrote in FAIR’s Extra! magazine.

This year’s presidential debates have been showcases of absentee journalism. With the exception of a single interjection by Candy Crowley (on a trivial point), all three moderators sat silently and passively as Barack Obama and Mitt Romney told one lie after another to an audience mostly composed of citizens who were paying attention to the campaign for the first time.

“My moderator mission was to stay out of the way of the flow,” said Jim Lehrer, moderator of debate number one.

Lame mission accomplished.

To make things worse, the pundits and journalists voters count upon to set things straight let the biggest lies and gaffes stand uncorrected. Even partisan screamers let us down: Fox News failed to call out Obama’s biggest fibs while MSNBC dropped the ball on Romney’s.

And the fact-checking commentariat let the ugliest and meanest sleeping dogs lie.

Last night’s third and final presidential debate included a few gaffes—my favorite was the geographically challenged Romney’s repeated statement that “Syria is Iran’s route to the sea“—Iran doesn’t have a border with Syria, nor is it landlocked—and the usual share of whoppers, most of which have gone unchallenged so long that people consider them facts.

Do politicians’ lies matter? You bet.

Whether people are deciding which of the two corporate major-party candidates to vote for, or they’re looking outside the system to a third party, voter boycott or revolution to overthrow the entire system, they can’t make an intelligent decision without knowing the pertinent facts. The myth of U.S. exceptionalism, for example, mistakenly teaches Americans that their country is #1; if they knew the truth, that the U.S. is behind much of the industrialized world by such measures as child poverty (we’re #34 out of the 35 industrialized nations, just ahead of Romania), they might decide to stop tolerating U.S.-style corporate capitalism.

Lies are the glue that hold a sick and sickening system together.

As far as I can tell, neither cable news networks, nor news websites, nor newspapers have questioned somewhere the following bipartisan lies, which all reared their heads at the third debate:

Obama said: “We ended the war in Iraq, refocused our attention on those who actually killed us on 9/11.”

Actually, 16,000 U.S. troops will remain after the “pullout.” Hilariously reclassified as “staff” of the U.S. embassy in Baghdad—world’s biggest force of security guards—American soldiers will be fighting alongside 3,500 to 5,000 private U.S.-paid mercenaries.

9/11 was not carried out, or planned, by citizens of Iraq or Afghanistan.

What if they gave a war, and people came, but nobody knew? Some antiwar voters will vote for Obama for ending a war he is actually continuing.

Obama said: “We killed bin Laden…when we bring those who have harmed us to justice, that sends a message…”

The president could have argued that bin Laden got what he deserved. Bringing someone to justice means placing them under arrest so their fate can be determined by a judge and jury in a court of law. If the president can get away with saying—and the media doesn’t question it—that an assassination is justice, then law and order no longer have any meaning.

We live in an authoritarian police state.

A police state full of lazy reporters.

Obama said: “Moammar Gadhafi had more American blood on his hands than any individual other than Osama bin Laden.”

Everyone “knows” bin Laden was behind 9/11. That he admitted it in a video. But though bin Laden never shied away from his involvement in terrorism—he admitted ordering the 1998 East Africa embassy bombings—he denied ordering 9/11. The translated “confession” was shown to have been faked by the CIA.

Obama said: “Iran is a threat to our national security and it’s a threat to Israel’s national security…And they have said that they want to see Israel wiped off the map.”

Though debunked, the oft-repeated canard that Iranian president Mahmoud Ahmadinejad wants to “wipe Israel off the map” is part of Democratic and Republican propaganda alike.

Jonathan Steele of the UK Guardian provides the best available translation of what Ahmadinejad really did say: “The Iranian president was quoting an ancient statement by Iran’s first Islamist leader, the late Ayatollah Khomeini, that ‘this regime occupying Jerusalem must vanish from the page of time,’ just as the Shah’s regime in Iran had vanished. He was not making a military threat. He was calling for an end to the occupation of Jerusalem at some point in the future. The ‘page of time’ phrase suggests he did not expect it to happen soon.”

A top Israeli official, intelligence and atomic energy minister Dan Meridor, agreed recently that Ahmadinejad never used that “wipe off the map” phrase, which doesn’t exist in Farci. Meridor says that Ahmadinejad  and Ayatollah Ali Khamenei said “that Israel is an unnatural creature, it will not survive. They didn’t say, ‘We’ll wipe it out.'”

Romney again repeated his meaningless line that Iran is “four years closer to a nuclear weapon.” By the same logic, Iran was eight years loser to a nuclear weapon during Ronald Reagan’s two terms as president.

Bob Schieffer asked Romney: “What if the prime minister of Israel called you on the phone and said: Our bombers are on the way. We’re going to bomb Iran. What do you say?” Romney replied: “Our relationship with Israel, my relationship with the prime minister of Israel is such that we would not get a call saying our bombers are on the way or their fighters are on the way. This is the kind of thing that would have been discussed and thoroughly evaluated well before that kind of action.”

Romney can’t be that sure. Israeli officials have told their U.S. counterparts that they won’t ask permission before attacking Iran—and will give us no more than 12 hours advance notice.

Romney lied less but his biggest lie was the biggest.

“America’s going to…continue to promote principles of peace,” he said in his closing statement.

It must have been difficult for the audience, who’d promised to keep quiet, not to laugh out loud. America? Peaceful?

Unless they believe that stuff about Obama ending the war in Iraq.

(Ted Rall‘s latest book is “The Book of Obama: How We Went From Hope and Change to the Age of Revolt.” His website is tedrall.com.)

COPYRIGHT 2012 TED RALL

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4520 Main St., Kansas City, Mo. 64111; (877) 682-5425 / TED RALL ONLINE: rall.com

RALL     10/23/12

Mini Drones

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Ted Rall

U.S. troops will soon carry six-pound “Switchblade” drones, a new generation of remote-controlled weapons whose tiny warheads can kill enemy soldiers with pinpoint accuracy. How small can we go?

SYNDICATED COLUMN: Our Suicidal Ruling Class

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Ted Rall

Why Won’t the Rich and Powerful Try to Save Themselves?

I spent last week at Occupy Miami and Occupy Fort Lauderdale. One question came up several times: What if the system responds—or pretends to respond—to our demands? What if the political class agrees to create more jobs, help the unemployed, let distressed homeowners keep their houses?

Then the Occupy movement (and American progressivism) will be out of business. “President Obama could finish us off over night,” I said. “A speech would be enough. He wouldn’t even have to do anything.”

Obama could announce a big jobs bill, knowing full well that Congressional Republicans would kill it. It would probably increase his reelection prospects.

But don’t worry.

He won’t.

He can’t.

America’s corporate rulers and their pet politicians know that people are furious. They understand that their actions and policies are accelerating the pace of income inequality and creating a growing, permanently alienated underclass.

They know history. Sooner or later, the downtrodden rise up, overthrow and kill their oppressors.

It’s not a nice way to rule. Nor is it smart. So—if all it would take for America’s masters to save themselves from the raging mobs of the not-so-distant future are a few empty words, why not try?

There’s no doubt about the nature or scale of the problem. Economists from left to right agree that the United States suffers from high structural inequality. “At least five large studies in recent years have found the United States to be less mobile than comparable nations,” reported The New York Times on January 5th. According to a Swedish study 42 percent of American boys raised by parents whose incomes fall in the bottom 40 percent of wage earners remain in the bottom 40 percent as adults—a much higher rate than such nations as Denmark (25 percent) and England (30 percent), “a country famous for its class constraints.”

To be poor in the United States is not unusual. Half of Americans live under two times the poverty line. But the depth and persistence of poverty in America is unique among developed industrialized nations. The gap between the poor and the rich is bigger. Mobility—access to the American Dream—is less.

Born rich? You’ll more likely to die rich in the U.S. than in other countries. Born poor? You’re likelier to die poor.

“Miles Corak, an economist at the University of Ottawa, found that just 16 percent of Canadian men raised in the bottom tenth of incomes stayed there as adults, compared with 22 percent of Americans. Similarly, 26 percent of American men raised at the top tenth stayed there, but just 18 percent of Canadians.”

When family background determines your fate you look for other options. Like getting rid of the system that makes things that way for your kids and their kids. That’s what happened in France in 1789 and Russia in 1917 and China in 1949.

There is no better predictor of revolution than an absence of economic mobility.

Right-wing extremists dismiss empirical data with anecdotal evidence. “If America is so poor in economic mobility, maybe someone should tell all these people who still want to come to the U.S.,” Stuart Butler of the Heritage Foundation told the Times.

Someone should.

Most Americans are poor. They don’t need to read these studies. They’re living them. Which is why they want politicians to create big jobs programs, raise wages, establish permanent unemployment benefits (standard in Europe) and impose a moratorium on foreclosures. The polls are clear.

No one cares about Iran’s supposed nuclear weapons program.

Yet here we are in the heat of a presidential election year, and no candidate—not “liberal” Obama, not the weird Republican, Ron Paul, no one—is talking about the issues Americans care about.

During the 1930s and 1960s liberal leaders ended street protests by promising change. Why not now? Why isn’t anyone promising to address income inequality? They could lie and break their promises later.

First, the rich are feeling squeezed. The global capitalist system no longer has much room to expand. Emerging markets have emerged. Globalization is not only nearly out of steam, it’s allowing the weakest trading partners to drag down their healthier partners. Feeling squeezed, our rulers aren’t in the mood to be generous. They’d rather loot the scraps of the pending collapse than expand the social safety net.

Second, the ruling classes have fooled themselves into believing that they no longer need to exploit workers in order extract surplus value. They make their profits without us in massive arbitrage transactions that collect spreads from borrowed money. To be sure, it’s a bubble. It’ll burst. But it feels good now.

Third, the rich think they can insulate themselves from the roiling masses of the dispossessed, safe behind high-tech alarm systems inside their gated communities. Arrogance rules.

Louis XVI had good security too.

Finally, there has always been a division within the elites between enlightened liberals and hardass thieves. The liberals don’t like us; they fear us. So they try to keep us satisfied enough not to revolt. The thieves count on brute force—cops, pepper spray, camps—to keep the barbarians at bay. The balance of power has shifted decisively to the thieves—which is why figures like Obama can’t even pretend to care about the issues most important to the great majority of people.

(Ted Rall is the author of “The Anti-American Manifesto.” His website is tedrall.com.)

COPYRIGHT 2012 TED RALL

The Environment is a Pass-Fail Class

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Ted Rall

A writer to TIME magazine pointed out (accurately) that there are thousands of oil wells that operate at sea without an accident. It’s a distinction without a difference—one that merely proves why offshore drilling is too big a risk.

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