From:   Gabriel Johnson <gabjoh2@gmail.com>
Sent time:   Thursday, September 22, 2011 9:47:48 AM
To:   september17@googlegroups.com
Subject:   Re: [september17discuss] Five demands and banks
 

I'm not sure we want to start a *coup*… I also feel like that might

run us into a couple issues with the police, or something?

 

--glj

 

On Thu, Sep 22, 2011 at 11:41 AM, Mellow Yellow <disorganizecm@gmail.com> wrote:

> Hi Free Folks,

>

> This is a pretty radical proposal but I am gonna put it out there.

>

> No demands. Instead, we will live and practice and be the change we want to

> see. Our only "demand" is an invitation to all New Yorkers, all US citizens,

> and perhaps all peoples around the world living under corrupt, exploitative,

> violent and oppressive political or economic systems to JOIN US. Anyone who

> feel dis-enfranchised, voiceless, or lacks basic human rights or liberties

> should JOIN US. Anyone who wants to have a planet that will continue to

> sustain life should JOIN US.

>

> Liberty Plaza, quite simply, is a liberated zone, and we are forming a new

> government in opposition to the dominant systems. We are practicing direct

> participatory democracy, and we INVITE YOU TO JOIN US!

>

> The logical conclusion is admittedly a polarizing, but if Libyan "rebels"

> can claim to be legitimate government of that state, why can't we lay claim

> to a new legitimacy? We are a new state that explicitly rejects violence.

>

> I appreciate any responses or feedback on this suggestion.

>

> Mellow Yellow

>

> On Thu, Sep 22, 2011 at 9:48 AM, gail zawacki <witsendnj@gmail.com> wrote:

>>

>> I loved the chant at Copenhagen - System Change not Climate Change.

>> Growth is not sustainable on a finite earth.  We need to find new measures

>> of quality of life if we are going to survive.

>>

>> On Thu, Sep 22, 2011 at 9:22 AM, grimwomyn <grimwomyn@gmail.com> wrote:

>>>

>>> Yeah, I don't know that we even need to get too specific on the demands

>>> as the OWS effort has started people from all over the country talking about

>>> corporate control in their lives, and they are starting to wake up and

>>> recognize how it is inherently injurious. If we are truly here for the

>>> people, I think that informing on all the reasons corporate influence is

>>> damaging to society is a great start -- and it is not necessarily up to us

>>> to frame what the answers should be, we do have elected officials, we just

>>> need to shout and scream until they start examining options that will really

>>> help us.

>>> The lowering of interest rates by the Fed is useless to the rest of us.

>>> It is not systemic, what we really need to be pushing is the language of

>>> systemic change, what is being offered presently is business as usual to

>>> help the usual. I'm not sure we would even know what real change looks

>>> like... so reaching out to visionaries like Bernie Sanders and others will

>>> help that conversation along.

>>> The one demand? Try something like: ending corporate control, leave it

>>> open, not specific, so it can be debated by all.

>>> IMHO of course-- happy rainy thursday

>>>

>>> On Wed, Sep 21, 2011 at 11:30 AM, gail zawacki <witsendnj@gmail.com>

>>> wrote:

>>>>

>>>> Bravo Snafu for this:

>>>> corporate funding and the two-party system should be the two main

>>>> targets of a campaign for real democracy.

>>>>

>>>> On Wed, Sep 21, 2011 at 11:02 AM, Lisa Fithian <fithianl@igc.org> wrote:

>>>>>

>>>>> Hey all,

>>>>>

>>>>> Hope all are well –

>>>>>

>>>>> on the questions of demands.  Things suggested in the other email below

>>>>> require congressional action.    It might be great to ask the GA some

>>>>> questions like – do you know anyone who has lost their home, or do they come

>>>>> from a city that is losing needed services or do they know anyone in

>>>>> debt.    These might get you to some other possible demands…. Things that

>>>>> Wall Street can do immediately if there was political will…

>>>>>

>>>>>

>>>>>

>>>>> -          stop foreclosure keep millions in their homes

>>>>>

>>>>> -          stop bankrupting states and cities renegotiate debt at lower

>>>>> interest rates save public services

>>>>>

>>>>> -          drop student debt, forgive all loans

>>>>>

>>>>> -          stop excessive fees, et

>>>>>

>>>>>

>>>>>

>>>>> Banks touch every aspect of our lives.  From student loans to housing

>>>>> morgages, from banks to credit cards to debt cards, to food stamps,

>>>>>

>>>>>

>>>>>

>>>>> Just some thoughts

>>>>>

>>>>> Peace, Lisa

>>>>>

>>>>>

>>>>>

>>>>> SEE BELOW

>>>>>

>>>>> 1: draft old flier

>>>>>

>>>>> 2: JP Morgan fact sheet

>>>>>

>>>>>

>>>>>

>>>>> This is a draft of a flier I once worked on but never finished.

>>>>> Wanted to show how the big banks affect us.  With a bit more research you

>>>>> can tell a compelling story why the things above should happen

>>>>>

>>>>>

>>>>>

>>>>>

>>>>>

>>>>>

>>>>>

>>>>> JP MORGAN CHASE BANK AFFECTS:

>>>>>

>>>>> ·         Home owners: through mortgages and loans, refusing to

>>>>> negotiate on foreclosures, redlining in communities, leaving communities

>>>>> vacant and blithe, refusing to reduce principle, dealing with homes worth

>>>>> less now then is owed aka  “underwater”

>>>>>

>>>>>

>>>>>

>>>>> ·         Renters: if a house is foreclosed and you rent, you are out,

>>>>> you have no rights

>>>>>

>>>>>

>>>>>

>>>>> ·         Military Personal:. More than 20,000 veterans, reservists and

>>>>> active-duty troops lost the homes to foreclosure in 2010, the highest number

>>>>> since 2003.  JPMorgan Chase illegally overcharged 4,000 active service

>>>>> members for their mortgages improperly foreclosing on a number of them.

>>>>>

>>>>>

>>>>>

>>>>> ·         Students: college loans are now from banks not the

>>>>> government, high interest rates, loading kids out with credit cards,

>>>>> monopolizing debt card use, fees for card use and the list goes on….

>>>>>

>>>>>

>>>>>

>>>>> ·         Consumers: Credit card offers, new deals, hidden fees and

>>>>> high interest rates, penalties

>>>>>

>>>>>

>>>>>

>>>>> ·         Poor People: JP provides the debit cards for 43 million

>>>>> Americans on food stamps and gets a cut for each use

>>>>>

>>>>>

>>>>>

>>>>> ·         Bank Workers: opposing the right to a union

>>>>>

>>>>>

>>>>>

>>>>> ·         Small Businesses: Charging high fees for credit card use.

>>>>>

>>>>>

>>>>>

>>>>> ·         Utility Users: JP lobbyist are working hard to drive up the

>>>>> cost of home heating fuel to up their investments in dirty energy.  Public

>>>>> Citizen has a campaign

>>>>>

>>>>>

>>>>>

>>>>> ·         Health: Funding the Tobacco Industry, funding, investing in

>>>>> fossil fuel extraction

>>>>>

>>>>> ·         Community Development:

>>>>>

>>>>> ·         Farmers

>>>>>

>>>>>

>>>>>

>>>>> ·         War – JP invests in munitions

>>>>> http://www.banktrack.org/show/bankprofiles/jpmorgan_chase

>>>>>

>>>>>

>>>>>

>>>>>

>>>>>

>>>>>

>>>>>

>>>>>

>>>>>

>>>>> JPMORGAN CHASE

>>>>>

>>>>>

>>>>>

>>>>> Federal taxpayer bailout funds

>>>>> received:[1]                              $100.7 billion[i]

>>>>>

>>>>> Profits for the years

>>>>> 1996-2010:                                             $153.5 billion[ii]

>>>>>

>>>>> Profits since bailout

>>>>> (2009-2010):                                           $29.1

>>>>> billion[iii]

>>>>>

>>>>> 2010 bank account

>>>>> fees:                                                        $4.7

>>>>> billion[iv]

>>>>>

>>>>> 2010 credit card fee

>>>>> income:                                                  $5.9 billion[v]

>>>>>

>>>>> Chase bank teller wage:[2]

>>>>>                                                        $10.77/hour

>>>>> ($22,391/year)[vi]

>>>>>

>>>>> 2010 CEO Jamie Dimon total pay:

>>>>> $20.8 million[vii]

>>>>>

>>>>> 2010 CEO Jamie Dimon bonus:

>>>>> $19.2 million[viii]

>>>>>

>>>>> Projected annual dividend for CEO Jamie Dimon:                $6

>>>>> million[ix]

>>>>>

>>>>> 2010 bonuses and compensation:

>>>>> $28.4 billion[x]

>>>>>

>>>>> Bonuses and compensation for top 5 execs last 10 years:[3]  $804.2

>>>>> million[xi]

>>>>>

>>>>> Homes in foreclosure in lending or servicing portfolio:          $74.0

>>>>> billion[xii]

>>>>>

>>>>> Offshore subsidiaries in tax

>>>>> havens:[4]                                     53[xiii]

>>>>>

>>>>> Lobbying expenses since bailout (2009-2010):                      $15.7

>>>>> million[xiv]

>>>>>

>>>>> Political contributions in 2008 & 2010 federal elections:[5]       $9.7

>>>>> million[xv]

>>>>>

>>>>>

>>>>>

>>>>>

>>>>>

>>>>> FORECLOSURE CRISIS

>>>>>

>>>>>

>>>>>

>>>>> ·         Foreclosure Leader.  As of June 2010, JPMorgan Chase had

>>>>> $19.5 billion worth of foreclosed homes on its books—more than any other

>>>>> bank in the country.  Another $54.5 billion of mortgages that the bank

>>>>> services for other lenders was also in foreclosure.[xvi]

>>>>>

>>>>> ·         Foreclosure Fraud.  JPMorgan Chase employees admitted to

>>>>> signing 18,000 foreclosure documents per month without reviewing the

>>>>> information in each file to ensure that the bank had a legal right to

>>>>> proceed with foreclosure.[xvii]  The bank was forced to stop foreclosures in

>>>>> 41 states as a result of the robo-signing scandal,[xviii] which also led

>>>>> Attorneys General in all 50 states to launch investigations into foreclosure

>>>>> fraud.

>>>>>

>>>>> ·         Subprime Lending.  JPMorgan Chase had a hand in the worst of

>>>>> the subprime lending excesses, providing financing to the nation’s two

>>>>> largest subprime lenders, Countrywide and Ameriquest, which allowed them to

>>>>> originate subprime loans.  JPMorgan Chase also owned a major subprime lender

>>>>> and has acquired two banks that had large subprime operations.  Together,

>>>>> these firms issued over $295.3 billion in subprime loans from

>>>>> 2005-2007.[xix]

>>>>>

>>>>> ·         Loan Modifications.  Despite large incentives from taxpayers,

>>>>> as of January 2011, JPMorgan Chase had given permanent mortgage

>>>>> modifications to only 42% of its homeowners who are still eligible for the

>>>>> Obama Administration’s Home Affordable Modification Program (HAMP).  The

>>>>> bank had rejected 354,822 families from HAMP, almost as many as Bank of

>>>>> America (193,231) and Wells Fargo (172,278) combined.[xx]

>>>>>

>>>>> ·         Exploiting Military Members.  JPMorgan Chase overcharged

>>>>> 4,500 military members on their mortgages and improperly foreclosed on 18 of

>>>>> them.  Once the issue came under Congressional scrutiny, the bank announced

>>>>> it would take steps to correct the problems.[xxi]

>>>>>

>>>>> ·         Predatory Lending.  From 2006 through 2009, JPMorgan Chase

>>>>> (and mortgage lenders it has since acquired) was more than twice as likely

>>>>> to put African-American and Latino borrowers into higher-cost, subprime

>>>>> loans than white borrowers.  Furthermore, while mortgage lending to white

>>>>> borrowers only dropped 11% between 2006 and 2009, it dropped 51% for

>>>>> African-American borrowers and 63% for Latinos.[xxii]

>>>>>

>>>>>

>>>>>

>>>>>

>>>>>

>>>>> PUBLIC BUDGET CRISES

>>>>>

>>>>>

>>>>>

>>>>> ·         Interest rate swaps.  JPMorgan Chase had to pay a $722

>>>>> million fine to settle charges that it illegally paid off officials in

>>>>> Jefferson County, Alabama to secure interest rate swap deals that drove the

>>>>> county to the brink of bankruptcy.[xxiii]  Across the country, the bank is

>>>>> gouging state and local governments for more than $200 million a year on

>>>>> swap deals.[xxiv]  JPMorgan Chase sold governments these deals as a way to

>>>>> save money, but instead they have become a goldmine for the bank following

>>>>> the bailout, which is able to rake in millions at taxpayer expense.

>>>>>

>>>>> ·         Letters of credit.  JPMorgan Chase is squeezing state and

>>>>> local governments by making it tougher for them to renew letters of credit,

>>>>> a form of bond insurance that many cities and states need to keep bond

>>>>> interest rates from spiking up.[xxv]

>>>>>

>>>>> ·         Predatory loans to government.  JPMorgan Chase is making a

>>>>> profit by lending taxpayers their own money.  Even though the bank has

>>>>> access to ultra-cheap loans from the Federal Reserve, speculated to be as

>>>>> low as 0.5%, JPMorgan Chase is manipulating government budget processes and

>>>>> charging local and state governments much higher interest rates.  For

>>>>> instance, when Philadelphia was in a budget pinch in fall 2009, instead of

>>>>> passing the 0.5% interest rate onto taxpayers, the bank offered the city a

>>>>> 3% bridge loan that would reset to 8% if it wasn’t paid off in a few

>>>>> months.[xxvi]

>>>>>

>>>>> ·         Auction-rate securities.  After promoting auction-rate

>>>>> securities to local and state government borrowers as a low-risk, low-cost

>>>>> source of financing, JPMorgan Chase and other banks pulled their support for

>>>>> the market in early 2008, causing auctions to fail and leading to interest

>>>>> rates as high as 20% for government borrowers.  Then the banks charged local

>>>>> and state governments at least $1 billion in fees to convert their

>>>>> auction-rate bonds to safer forms of debt, “enriching JPMorgan Chase & Co.,

>>>>> Goldman Sachs Group Inc. and the rest of Wall Street that let the market

>>>>> fall apart,” according to Bloomberg.[xxvii]

>>>>>

>>>>>

>>>>>

>>>>>

>>>>>

>>>>> JOBS CRISIS

>>>>>

>>>>>

>>>>>

>>>>> ·         Small business lending.  Even though the bailout was intended

>>>>> to get banks to start lending again to stimulate the economy and spur job

>>>>> creation, JPMorgan Chase’s bailout did not translate into new credit for

>>>>> small businesses.  In fact, the bank made 18,699 loans through the Small

>>>>> Business Administration’s flagship 7(a) program in the two years before the

>>>>> bailout, and made only 4,636 loans into the two years since—a 75% decline.

>>>>> Meanwhile, the bank had $1.48 billion in outstanding insider loans to bank

>>>>> directors and their companies as of March 2009, more than any other

>>>>> bank.[xxviii]

>>>>>

>>>>>

>>>>>

>>>>> ·         Unemployment debit cards.  Several states use JPMorgan Chase

>>>>> debit cards to pay out unemployment and/or TANF benefits.  The bank takes

>>>>> advantage of Americans who have fallen on hard times by skimming fees off of

>>>>> their accounts.  For example, in Michigan benefit recipients have to pay $4

>>>>> if they go to a bank teller to withdraw money from their accounts more than

>>>>> once per pay period or $1 if they check their balance more than once per

>>>>> period.[xxix]

>>>>>

>>>>>

>>>>>

>>>>>

>>>>>

>>>>>

>>>>>

>>>>>

>>>>>

>>>>>

>>>>>

>>>>>

>>>>>

>>>>>

>>>>>

>>>>> From: september17@googlegroups.com

>>>>> [mailto:september17@googlegroups.com] On Behalf Of Doug Singsen

>>>>> Sent: Tuesday, September 20, 2011 7:23 PM

>>>>> To: september17@googlegroups.com

>>>>> Subject: Re: [september17discuss] Five demands from the NYCGA: how to

>>>>> link the struggle for democracy to the struggle for social and economic

>>>>> justice

>>>>>

>>>>>

>>>>>

>>>>> This is exactly what we need. Who wants to propose this in the GA?

>>>>> Unfortunately I'll be out of town for a week starting tomorrow so I can't do

>>>>> it myself.

>>>>>

>>>>> Doug S

>>>>>

>>>>> On Tue, Sep 20, 2011 at 7:52 PM, Snafu <snafu@thething.it> wrote:

>>>>>

>>>>> Hi all,

>>>>>

>>>>> I apologize for being off-list and off-the-streets for a few days, but

>>>>> I was lucky enough to become a father on September 17!

>>>>>

>>>>> I personally believe that the obstination of some members of the NYCGA

>>>>> on not having demands has proved disastrous and resulted in a PR debacle.

>>>>> Invariably, almost all mainstream media accounts of the protests note that

>>>>> the demonstrators have confused ideas and are probably motivated by merely

>>>>> ideological motives.

>>>>>

>>>>> Further, this refusal of having demands has nothing to do with the

>>>>> current movements in the Middle East, Spain and Greece all of which have

>>>>> clear and loud demands. In the case of Arab countries and Middle Eastern

>>>>> autocracies the demand cannot be but one (remove the dictator). In Greece

>>>>> and Spain the situation is more complex but the movements there have been

>>>>> able to develop specific analyses and requests. In particular the Joint

>>>>> Economics Working Group of Syntagma Square and Puerta del Sol have drafted a

>>>>> document (http://bit.ly/npCWkg) that lists a specific set of demands, such

>>>>> as the request of nationalizing the banks, withdrawing the EU/IMF Memorandum

>>>>> imposed on Greece, make the accounting records transparent, and so forth.

>>>>>

>>>>>

>>>>> As I have previously suggested, the three simple demands that the NYCGA

>>>>> should have raised in the call to Occupy Wall Street should have been:

>>>>>

>>>>> 1) Reintroduction of the Glass-Steagall Act, a law regulating the bank

>>>>> system that separated investment banks from commercial banks. This law,

>>>>> originally approved in 1933 and signed into law by FDR has been repealed in

>>>>> 1999. As Wikipedia simply states it, "Most economists believe this repeal

>>>>> directly contributed to the severity of the Financial crisis of 2007–2011 by

>>>>> allowing Wall Street investment banking firms to gamble with their

>>>>> depositors' money that was held in commercial banks owned or created by the

>>>>> investment firms." http://en.wikipedia.org/wiki/Glass–Steagall_Act

>>>>>

>>>>> 2) Immediate introduction of a Tobin Tax or Robin Hood Tax on all

>>>>> financial transactions both at a national and international level. On a

>>>>> national level, it would be sufficient for Congress to pass it. On an

>>>>> international level, the IMF could subordinate loans to countries in debt to

>>>>> the introduction of a Tobin Tax instead of requiring massive privatizations

>>>>> as it ordinarily does through the notorious structural adjustment programs.

>>>>> In Europe, Angela Merkel and Nicholas Sarkozy have officialized their

>>>>> support to the introduction of such tax in the EU about three weeks ago.

>>>>> Last June over 1,000 economist submitted a letter by 1,000 economists to the

>>>>> G20 last April that explains why the idea of a global Robin Hood Tax has

>>>>> “come of age.”

>>>>> (http://www.guardian.co.uk/business/2011/apr/13/robin-hood-tax-economists-letter)

>>>>> Robinhoodtax.org, a web site run by a British NGO that explains in very

>>>>> simple terms how it works and how much revenue it could generate. The NGO

>>>>> also has a Facebook page.

>>>>>

>>>>>

>>>>> 3) Raise taxes on qualified dividends and long-term capital gains by

>>>>> pairing the long-term capital gains tax rate (which applies to financial

>>>>> assets held for more than a year) to the ordinary income tax rates. At the

>>>>> moment, thanks to the Tax Reconciliation Act signed by Bush into law in 2006

>>>>> and extended by the Obama administration to 2012 and beyond, capital gains

>>>>> cannot be taxed more than 20% whereas income tax is taxed up to 35%. This

>>>>> means that if your wage falls for example in the $35,000-83,000 bracket

>>>>> your income tax is 25% whereas if you make 1, 10, or 100 million dollars on

>>>>> the stock market your pay 20% only. Even Warren Buffett says that this

>>>>> system is openly unjust and that the current taxation system is profoundly

>>>>> unbalanced and skewed towards financial profit.

>>>>> (http://www.nytimes.com/2011/08/15/opinion/stop-coddling-the-super-rich.html)

>>>>>

>>>>>

>>>>> These three proposals are far from revolutionary yet they could begin

>>>>> raising specific questions and help bring a variety of subjects into the

>>>>> conversation. The notion that a movement is defined by its demands is

>>>>> ridiculous. A social movement is much more than a set of demands yet demands

>>>>> help those who are not on your side understand who you are and where you

>>>>> come from.

>>>>>

>>>>> Two other critical points that should be discussed in the GA are the

>>>>> public funding of political campaigns and the two-party system. A paramount

>>>>> political objective should be to get corporations to stop funding political

>>>>> candidates. You cannot have real democracy with the current system of

>>>>> fundraising. A truly democratic system would give each citizen a tax bonus

>>>>> of the SAME AMOUNT and enable each one of us to decide how to allocate such

>>>>> money. A truly democratic society should also not rely on forms of political

>>>>> representation based on a majoritarian (first-past-the-post) electoral

>>>>> system. If we are the 99% of the country, then we ought to be able to

>>>>> convince the rest of the nation that the 99% counts in fact nothing. And

>>>>> corporate funding and the two-party system should be the two main targets of

>>>>> a campaign for real democracy.

>>>>>

>>>>> To sum up, the question of the redistribution of wealth and democratic

>>>>> control over the financial system cannot be disconnected from the question

>>>>> of political representation. Organizing a movement that fights "against

>>>>> representative politics" does not mean in my opinion to fight against *any*

>>>>> form of representation, but certainly against the current system of

>>>>> representation. We are over 6 billions on this planet. Thinking that each

>>>>> individual should have the right to decide on every issue in every part of

>>>>> the world at all times may sound fascinating but it is simply unrealistic

>>>>> and unrealizable. Whether we like it or not, we constantly delegate to

>>>>> others the understanding of issues and execution of tasks we simply do not

>>>>> have the time to understand and care about. (The worldwide

>>>>> professionalization of national armies and the advanced specialization of

>>>>> knowledge in scientific and academic research are just two notable cases in

>>>>> point).

>>>>>

>>>>> Thus the question is not how to abolish authority and representation

>>>>> per se but how to produce forms of representation that are truly

>>>>> representative, renewable and non-ossified. The NYCGA could be such a body,

>>>>> once we live behind the rather childish notion that demands define us and by

>>>>> defining us trap us in some blind alley from which we'll be unable to move

>>>>> forward.

>>>>>

>>>>> Cheers,

>>>>> Snafu

>>>>>

>>>>>

>>>>>

>>>>>

>>>>>

>>>>> ________________________________

>>>>>

>>>>> [1] Includes bailouts that the bank has paid back.

>>>>>

>>>>> [2] 25th percentile is $9.98 per hour and 75th percentile is $11.55 per

>>>>> hour.  $10.77 per hour is average of the two.

>>>>>

>>>>> [3] 2000-2009

>>>>>

>>>>> [4] Includes 50 JPMorgan Chase subsidiaries and 3 Washington Mutual

>>>>> subsidiaries.

>>>>>

>>>>> [5] Includes contributions made by the bank's political action

>>>>> committee and its employees in the 2008 and 2010 federal election cycles.

>>>>> Includes JPMorgan Chase and Bear Stearns.

>>>>>

>>>>> ________________________________

>>>>>

>>>>> [i] http://nomiprins.squarespace.com/storage/bailouttallyoct2010.pdf

>>>>>

>>>>> [ii] Capital IQ.

>>>>>

>>>>> [iii] Capital IQ.

>>>>>

>>>>> [iv]

>>>>> http://www.ffiec.gov/nicpubweb/NICDataCache/FRY9C/FRY9C_1039502_20101231.PDF,

>>>>> Item 5(b), Service Charges on Deposits.

>>>>>

>>>>> [v] Capital IQ.

>>>>>

>>>>> [vi]

>>>>> http://www.payscale.com/research/US/Job=Bank_Teller/Hourly_Rate/by_Employer

>>>>>

>>>>> [vii]

>>>>> http://online.wsj.com/article/SB20001424052748704101604576249092228969996.html

>>>>>

>>>>> [viii]

>>>>> http://online.wsj.com/article/SB20001424052748704101604576249092228969996.html

>>>>>

>>>>> [ix] http://www.nytimes.com/2011/03/17/business/17dividend.html

>>>>>

>>>>> [x] Capital IQ.

>>>>>

>>>>> [xi] Capital IQ.

>>>>>

>>>>> [xii]

>>>>> http://online.wsj.com/article/SB10001424052748703440004575548403873382036.html?KEYWORDS=%22home+loans+in+foreclosure%22

>>>>>

>>>>> [xiii] GAO-09-157, INTERNATIONAL TAXATION: Large U.S. Corporations and

>>>>> Federal Contractors with Subsidiaries in Jurisdictions Listed as Tax Havens

>>>>> or Financial Privacy Jurisdictions, Government Accountability Office, Dec

>>>>> 2008.

>>>>>

>>>>> [xiv] OpenSecrets.org

>>>>>

>>>>> [xv] OpenSecrets.org

>>>>>

>>>>> [xvi]

>>>>> http://online.wsj.com/article/SB10001424052748703440004575548403873382036.html?KEYWORDS=%22home+loans+in+foreclosure%22

>>>>>

>>>>> [xvii]

>>>>> http://www.google.com/hostednews/ap/article/ALeqM5jQnJ6629VrT7Nvy-O5KrMgEvvIygD9IHSPSG0?docId=D9IHSPSG0

>>>>>

>>>>> [xviii] http://www.nytimes.com/2010/10/18/business/18foreclosure.html

>>>>>

>>>>> [xix]

>>>>> http://www.publicintegrity.org/investigations/economic_meltdown/the_subprime_25/

>>>>>

>>>>>

>>>>> [xx]

>>>>> http://www.treasury.gov/initiatives/financial-stability/results/MHA-

>>>>> Reports/Documents/Jan_2011_MHA_Report_FINAL.PDF

>>>>>

>>>>> [xxi] http://www.americanbanker.com//bulletins/-1033032-1.html

>>>>>

>>>>> [xxii] Based on data from the Home Mortgage Disclosure Act Database.

>>>>>

>>>>> [xxiii]

>>>>> http://www.washingtonpost.com/wp-dyn/content/article/2009/11/04/AR2009110404582.html

>>>>>

>>>>> [xxiv] Based on SEIU analysis of Comprehensive Annual Financial Reports

>>>>> of more than 75 public entities across the country.

>>>>>

>>>>> [xxv]

>>>>> http://online.wsj.com/article/SB10001424052748704062604576106282512683312.html?mod=ITP_moneyandinvesting_0

>>>>>

>>>>> [xxvi]

>>>>> http://www.philly.com/philly/blogs/inq-phillydeals/JPMorgan_offers_Philly_emergency_cash_-_at_a_price.html

>>>>>

>>>>> [xxvii]

>>>>> http://www.bloomberg.com/apps/news?pid=newsarchive&sid=axksyBiC6q78

>>>>>

>>>>> [xxviii]

>>>>> http://blog.cleveland.com/business/2009/03/banks_lend_heavily_to_insiders.html

>>>>>

>>>>> [xxix]

>>>>> http://www.michigan.gov/documents/uia/Fee_schedule_FINAL_236570_7.pdf

>>>

>>

>

>

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