Obama Administration Blocks Legal Aid for Homeowners Facing Foreclosure

[Better Believe It]

Treasury Blocks Legal Aid for Homeowners Facing Foreclosure
By Katrina vanden Heuvel
December 9, 2010

With the media’s laser-like focus on the Obama-Republican tax deal, here’s a story that’s underreported: the Obama Administration’s coddling of the Big Banks and simultaneous neglect of homeowners facing foreclosure.

Consider this: the recent Fed audit revealed over $3.3 trillion in emergency assistance to the banks and other corporate behemoths during the financial crisis--no strings attached. Two trillion dollars to Morgan Stanley here, $600 billion to Goldman there, throw in a little chump change for McDonald’s, GE, others--no demands to increase lending to small businesses, or modify mortgages for unemployed homeowners, for example.

Then consider the 19 states which are recipients of the Hardest Hit Fund (HHF)--a portion of TARP money set aside to help homeowners in states struggling with the highest unemployment rates and steepest declines in the housing market.

Some of those states, including Ohio, let Treasury Secretary Tim Geithner know as far back as this past spring that they wanted to use some of those funds to assist legal aid groups that help individual homeowners. Seems like a reasonable request--unlike the absurdity of handing over trillions of dollars to robo-signing, foreclosure-mad banks, no questions asked.

Treasury solicited the opinion of an outside law firm, Squire, Sanders & Dempsey. Never mind that the firm’s clients include BB&T Corporation and payday lender CNG Financial Corp. The firm said, in essence--sorry, no can do on the legal aid. Not permitted under the TARP.

Huh? Hold on a sec--is this the same TARP that granted the Treasury Secretary all those “extraordinary powers” to protect people’s home values, preserve home ownership, promote economic growth, etc.?

Please read the full article at:

http://www.thenation.com/blog/156973/treasury-blocks-legal-aid-homeowners-facing-foreclosure

[MNBrewer]

1. LEAVE BRITTANY ALONE!!!

:sarcasm:

[readmoreoften]

2. Poor Obama. He's suffering so much. How could you do this to him?

[roguevalley]

63. I guess this is that famous change, as in small change or none

at all. What a great leader we have. Not.

[JDPriestly]

73. Chump change -- that's what they used to call it.

[caseymoz]

82. His approval ratings of us are down . . .

Jon Stewart.

[A wise Man]

90. Sorry.... this time

he did it to himself (and us). Shooting yourself in the foot and saying oops!!!!

[leftstreet]

3. Unbelievable

[GodlessBiker]

4. Holy christ. Corporate stooges. Fucking bastards.

[City Lights]

5. Ugh!

Rec'd.

[sasha031]

6. oh brother...

:-(

[Horse with no Name]

7. Get in line for your fucking pony!

I just wanted to make sure that you were told that!

[DeSwiss]

8. Show of hands of anyone who is surprised by this.......

- Right. They are all CORRUPT TO THE CORE.....

K&R

[Knight Hawk]

58. Well!

95% are anyway................

[caseymoz]

83. I'm surprised they're so brazen and arrogant about it.

They don't even seem to hide their contempt anymore.

[Autumn]

9. Let us all enjoy the daily

shit sandwich. K/R how bad does this have to get.

[geardaddy]

19. I prefer mine on whole grain bread.

K & R.

[femrap]

48. I can't eat wheat...so

mine will be on a gluten-free bun.

I still want to wake from this nightmare. Pleeeeeeeeeeeeeeeeeeeese.

[tavalon]

74. Two for gluten free shit sandwiches.

[geardaddy]

103. Whatever your pleasure...

that's the only choice you get. :)

I also want to wake from this nightmare.

[comtec]

108. In n Out uses large lettuce leaves

which is pretty nice.

that aside...

he's not even trying to pretend to be even moderate anymore.
my disappointment in this president only grows daily.
he was playing chess alright... with US

[femrap]

118. Good idea w/ the

lettuce leaves. I don't live where there is In n Out...I live in Dumfukistan, formerly known as Ohio.

[comtec]

124. it's a west coast chain, im in the Tundra known as minnesota

almost literally in the middle of nowhere, where the roads are not even named, and some not even paved!

I ask myself daily why am I here... but that's a rant for another time ^^

but yeah, large iceburg lettuce leaves work well as bun substitutes if you can find them.

[femrap]

125. I was thinking of getting a bread machine....

and using soy flour or some other flour to make bread with....not wheat flour.

The human body is so strange. In my forties, I had an allergic reaction to dairy...I got terrible sinus headaches. That left and now this reaction to wheat...bad stomach aches.

I hope I don't develop an allergic reaction to wine...or maybe I should..lol.

Keep warm up there...I bet your homes are built with very good insulation. Here is Dumfukistan...that's not the case. Crappy building codes.

I miss the Left Coast of N. CA.

[comtec]

126. soy and rice are nice, i've used both for cookies

the flavor is ... odd, but you get used to it.
the insulation here is strange.
Mostly the awesome gas heater in the living room keeps this place warm.
But yeah, Minnesota being a mostly blue state, I imagine its' building codes are pretty good.

I too miss N cal horribly, but I have issues I need to work out before I return.

Bummer about your food allergy.
I have Gout, so I cant have anything with legumes (peanuts), preserved meats, asparagus, or beer =<[br />age sucks!

[femrap]

128. shit....gout!

Can you drink wine?

Hell, I just want a toke.

A sedative from God/Goddess.

Take care.

[comtec]

129. i can drink wine, but i prefer pisan ambon

dutch liquor, tastes like bananas, rather nice.
I would kill for a green mixed like i got occasionally when I was in Holland.
Lord knows with my stress I could use it ><;

thank the goddess for her gifts ^^

merry part

[Angry Dragon]

10. They have to go to outside law firms??

not enough lawyers in treasury??

[Jackpine Radical]

17. But only the outsiders understand the delicate needs

of the big banks.

[blackspade]

25. That way they don't 'own' it

They can blame it on the law firm if there is a backlash.

[liberalhistorian]

94. Not only that, but a very biased one as well.

I'm originally from Cleveland, and Squire, Sanders and Dempsey is a HUGE worshipper at the corporate teat and they make no pretense about it. Now, as a private firm they certainly have the right to do that and to focus on the practice areas that they prefer. But it is the last firm that should have been solicited for this particular opinion, especially since its clients include some of the direct and indirect beneficiaries of TARP, which makes for a very obvious conflict.

[Ichingcarpenter]

11. Wall Street/Banks are in charge of the Economic Policies of the US Govt

It is really showing its ugly face day by day isn't it?

[TexasObserver]

12. I don't even know what to say any more.

He needs to start over, entirely. Go back and first do some research and find out what it means to be a Democrat.

[defendandprotect]

57. We don't have the time for that ....but obviously, Obama isn't sleep walking ....

or unaware of what he is doing --

Think we need to begin to judge just who Obama really is --

[liberation]

64. Wait...

... you mean to tell me a center-right politician is not the best proxy for the enactment of liberal policies. Whaaaaaa?

;-)

[defendandprotect]

65. We need the North Star to figure that one ... given that we have ...

a right wing party and a radical right wing party -- if Obama is in

the "center" of that -- he's Clarence Thomas, I think!!


:evilgrin:



:)

[Still a Democrat]

13. "TARP Funds Intended for Homeowners Facing Foreclosure Given to Law Firms by Obama Administration"

If they had done it.

[defendandprotect]

66. This is absolute cruelty ....

We already have such tremendous suffering among our citizens --

families -- the unemployed - the homeless -- and we've evidently

elected another administration that couldn't care less?

[Luciferous]

14. K&R

[QC]

15. How very, very hopeful and changealicious! n/t

[flvegan]

16. The hits keep coming.

Sigh.

[Supersedeas]

95. note your tone -- we'll have none of that purity and sanctimony for the likes of you

[Jackpine Radical]

18. Anybody keeping score?

I lost count months ago.

[Name removed]

21. Deleted message

Message removed by moderator. Click here to review the message board rules.

[displacedvermoter]

23. Match it against the list of accomplishments that keeps getting

posted hereabouts!

[Jakes Progress]

35. I tried to hang in there with him until he went after the school children

and began implementing ronald reagan's education plan.

[Name removed]

49. Deleted message

Message removed by moderator. Click here to review the message board rules.

[lark]

36. He gutted social security and gave the money to the rich

His cat food commission was where he totally crossed the line with me, tax cuts for the rich -which he obviously intended all along - are why he has to do this.

[Hell Hath No Fury]

27. I am.

I did it as a web project for the Bush years and, I am sad to say, I am reviving it for Obama. I let two years go by, biting my tongue with each new revelation. But I just can't do it anymore -- I'm not that kind of hypocrite. :(

[glitch]

41. Someone should write up a list of Obama's accomplishments.

:eyes:

edit: geeze I should have read down further before responding.

[sabrina 1]

20. "Access To Justice In U.S. At Third-World Levels", Says Survey

Access To Justice In U.S. At Third-World Levels

Why haven't more Americans successfully sued the banks that lured them into fraudulent mortgages, then foreclosed on them without the required paperwork?

It could be because the civil justice system in this country is essentially inaccessible to many Americans -- and when it does get accessed, is tilted toward the wealthy and moneyed interests.

That's certainly consistent with the finding of a world-wide survey unveiled Thursday morning that ranks the United States lowest among 11 developed nations when it comes to providing access to justice to its citizens -- and lower than some third-world nations in some categories.

Particularly when it comes to access to and affordability of legal counsel in civil disputes, the U.S. ranks 20 out of the 35 nations surveyed, below not only developed nations but also such countries as Mexico, Croatia and the Dominican Republic.

Is there any doubt left that this administration is working for Wall St?

Shameful!

[Name removed]

28. Deleted message

Message removed by moderator. Click here to review the message board rules.

[dixiegrrrrl]

47. Interestingly, bankruptcy courts often ARE looking at the paperwork.

Because they have to verify creditors, I guess.

But who wants to Claim bankruptcy to avoid getting screwed by your mortgage servicer??

edit...fingers outpaced brain.

[soryang]

22. For insight into systemic banking foreclosure fraud

Go to www.nakedcapitalism.com and www.4closurefraud.org. Their articles are supported by court documents and deposition transcripts. The fraud is unbelievable. Yves Smith author of Econned runs nakedcapitalism.com.

[Overseas]

24. Sanctimonious Dems following more cruel Republican Supply-Side economic policies.

Those economic royalists (aka sanctimonious greedy purists who Just Want More!) think more truckloads of cash will someday trickle down to the rest of us. We have been waiting for 30 years while our real wages declined and incomes at the top soared by hundreds of percent.

Maybe some really marvelous kind billionaire will build a homeless shelter for us someday.

We can pray.

Supply side has failed.

We desperately need Democratic demand-side policies again.

[Dappleganger]

26. So who's gonna help the little guy now

that this fairy tale's been shot to hell.

[bobbolink]

29. RAYGUN cut Legal Aid for Poor Folk decades ago, and there was little outcry.

Now, it is being cut for middle-class folk, and there will be much upset.

For some of us, it's a bit difficult to feel sorry for them. They shed no tears for us, now they can see how it feels.

[Wind Dancer]

31. Excuse me?????

There WAS quite a bit of outcry with Raygun's policies from those of us on the left!

You are using broad brush strokes to describe people which frankly makes you sound bitter and hateful. I'm getting tired of the lack of compassion for others I see on this board now. Geez!!!!

[bobbolink]

40. Outcry? A few people spoke up. PERIOD. The result? NO LEGAL AID FOR DECADES NOW.

What Legal Aid does now for poor people is pitiful.

YET, "progressives" can turn out in the millions over a war, or gay rights, or lots of other things, but poverty issues NEVER make it to the priority lists.

As a result, yes, poor people have no trust left in ANY party. Deal with that.

If there is now a loud outcry about the middleclass getting legal aid, it will cement just exactly what poor people think about the support we have in this nation.

Bash me all you want. I no longer give a shit. If, however, you don't believe me, then try LISTENING to what poor people think.

Just LISTEN. We get it.

[Name removed]

50. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Dhalgren]

97. Dead-on bob. Most "progressives" and "liberals" don't give

two shits for poor people. It is just a 'stance" they hold so they can fell good about themselves - not do anything about it. And when someone points out to them that the poor and working folks are generally dismissed, out-of-hand by "liberal" and "progressives", they get all indignant and outraged - not at the plight of the worse off in this shit-hole of a society, but at the temerity of the low-class ilk like us speaking thusly to our "betters".

+10,000 to you, bobbo...

[Cal Carpenter]

109. The very use of the term 'middle class'

relies on the existence of a lower class. It's quite simple. Yet time and time again I see comments here about 'poor people voting against their own interests' by supporting Repubs or not voting, an idea built on the concept that the Dems would support their interest. But in fact, *neither party* ever represents the interests of the poor and working class. It's shockingly obvious in this current administration but it's been the case since day 1.

The way things are going, all these people who fancy themselves part of the middle-class will see soon enough what it's like to really struggle.

[Dhalgren]

117. Very true. It is coming...

.

[Bluebear]

119. :nodding:

[bobbolink]

123. Thank you! That is exactly it! It reminds me of what Tony Campolo said during the Dem Convention.

He was telling the story about one of the classes he teaches, and said he walked in at the beginning of class and announced that (so many--sorry, don't remember the figure) thousands of people died of hunger in the last 24 hours.

The class met that with silence.

He exploded and said, "And you don't give a shit!"

And when the class then came awake and looked shocked, he said, "And what's worse is that you are more upset that I just said "shit" than you are that thousands died of hunger!"

Needless to say, he brought the house down!

:applause:

[fascisthunter]

121. YOU are right

[byrok]

30. knr

jesus, i've lost nearly everything. job, home, hope.

can't take much more.

:banghead:

[SOS]

96. Same here

Wife's old job gone, wife's new job getting hours cut, my hours getting cut, retirement wiped out, health insurance gone,
can't find a new job, independent book business wiped out, savings gone and debt piling up.

Our share of the trillions spent by the Feds:

$400 Making Work Pay tax credit which (of course) expires in three weeks.
The credit card bill. No financial help, but at least it's due the same day every month.

That's it. We're on our own.

[jtuck004]

32. Bush's lawyer said torture was ok. He was wrong too. Our administrations

need to get better counsel.

Or at least from someone with some compassion and sense.

[Hestia]

106. or find lawyers from schools other than Bob Jones & Liberty university. n/t

[jtuck004]

120. +1 AKA School of Hard Knocks (for someone else) n/t

[Bluebear]

33. Nothing shocks me anymore. nt

[glinda]

34. Bad people on both sides. This is so depressing.

[lastone]

37. looks like it's time for a revolution.

and not the tea party kind, where people are duped into doing anything the teevee tells them to. we need to stop the machine, put capitalism on hold and think of the necessities of the human race. these rich bastards are killing this country and could not give a shit as they export the labor force to countries who care less about their people and the misery these slave masters create.
I am sick of being pissed off - we need action.

[Wednesdays]

93. If the revolution doesn't involve breaking laws or physically hurting people, I'm in!

:toast::bounce:

[Dhalgren]

98. Any "revolution" that does not include "breaking laws" and

"hurting people" ain't no revolution. You think the rich folks are going to share the wealth with us rabble by us thinking good thoughts? I think that the rich and their functionaries have to be afraid of a revolution like the "French Revolution" or they will just laugh at us as they drive by in their Rolls Royces and moon us with their million dollar asses.

Remember the American Revolution?` Did those guys break laws and hurt people? What? Are they no longer good examples to follow?

It really doesn't matter, one way or the other, this country is nowhere near a revolution. It is going to get really bad over the next few years, then we will see what happens...

[Marr]

102. I'm on exactly the same page with you.

Power cedes nothing until it has to. Right now, the worst that liberals do is have a parade with cute signs.

But like you said, this country isn't anywhere near revolt, an I think it'd take more than the norm to get it there. The national character is one of subservience to authority.

[conspirator]

100. You live in dreamland. A revolution MUST break the law, cause the law is fucking RIGGED

The rich have written the laws and outlawed any measure that can actually change the structure of society.

[fascisthunter]

122. um... unfortunately lots of laws prevent people from revolting

I wish it was clean too....

[amborin]

38. K&R

[snot]

39. K&R'd

[Individualist]

42. K&R

[Waiting For Everyman]

43. The best way to stop the big banks - everywhere, around the world

is to back the homeowners fighting foreclosure. The evidence of the "big" crimes begins in the documents that the homeowners can legally get in defending themselves. They have mostly winning defenses but too few can afford an attorney. Without one, you may as well not even have any rights these days.

Fraudclosuregate came out of these defended cases, and there's much more scandal in them to get. Next, it goes to the whole securitization crime, with evidence of that in these cases too. From there, it goes to all the CDOs, and then on to nation-level scams like TARP. It's a chain of criminal dominoes, beginning with these homeowners, who are fighting alone but by the thousands out there unnoticed in the courts.

The evidence of crime in these cases can put all the big banks into receivorship. And that's where the banks need to go, if we're to take back our law and government - around the world, because they're global.

"This is a big f---ing deal." (as Biden said) That's why the banks are trying to "keep a lid on it" by refusing legal help to the homeowners. Geithner, complicit of course, doing the banks' bidding as usual.

It's systemic, it's all the banks, and it's consistent in all the cases. Janet Tavakoli called it "Fraud as a business model", the title of her presentation to the FHFA's Supervision Summit just yesterday. Article on it here...

http://www.market-ticker.org/akcs-www?post=174392

[defendandprotect]

59. Haven't they now pulled a BushvGore to appeal to the rw Supremes ....

to pull this out for them?

[tpsbmam]

44. And he has the gall to denigrate us when we call him out on this shit. Unbelievable. Sad K&R nt

[mdmc]

45. r

[ibegurpard]

46. disgusting but completely not shocking to me

[democracy1st]

67. matter of fact this is what I expect from this WH

[tavalon]

75. Yeah, my jaw hurts a lot less these days

I no longer drop it on a regular basis.

[laughingliberal]

51. K & R nt

[Better Believe It]

52. Never mind the big tent

[tpsbmam]

53. Ouch. So sad and so true! nt

[Bluebear]

60. +

[DirkGently]

54. Ugh.

[bertman]

55. I'm contributing a REC. nt

[defendandprotect]

56. More "Shock/Awe" -- two more years of this?

[BrklynLiberal]

61. wow...worser and worser..

[donco6]

62. K&R

[Hassin Bin Sober]

68. Anyone else think his time as a "community organizer" is a big fucking load of bullshit?

[Catherina]

76. That was just resume padding. The real organizing was over at U of Chicago n/t

[TheKentuckian]

69. Reagan's eighth term rocks on

[awoke_in_2003]

70. "He loved Big Brother". nt

[awoke_in_2003]

71. "He loved Big Brother". nt

[upi402]

72. I TOLD YA SO!!!!!

okay, i feel better


i'm going to the special place now

[indimuse]

77. who's defending THIS?? KNR!!!!!!!!!!!!!!! NT

[pam4water]

78. Not even surprised anymore :(

[FedUpWithIt All]

79. Of course he does...

x(

[old mark]

80. This must be part of that 3 dimensional chess I used to hear so much about...

I guess he will give another speech about how much he cares about the unemployed and the working poor, and throw in a line about the forclosures and DADT, too. Maybe when he lights up that christmas tree?

Oh, yeah and remember, the Republicans are taking over soon, so lets give Obama everything he wants now before that happens...

How many Democrats will run against him in 2012? Last week, I thought for sure he would run with no primary - now I am not so sure...


mark

[Stoic]

81. Two more years of this and then it get's really bad. n/t

[dgibby]

84. His next book should be titled "The Paucity of Hope".

Which one of the Naomi's warned us about the "Chicago Boys"? Talk about a prophet!

[Vinca]

85. Katrina just caused me to subscribe to the Nation.

She - and the other bona fide journalists who write for it - manage to cut through the fluff obstructing the real story and report the outrageousness that is our current state of affairs. (I swear . . . no one paid me for this post.)

[pokercat999]

86. For years 30+ they've been turning the screws on the middle

class and poor. Up until Cheney/Bush they were using simple hand operated screw driver screwing us slowly into dust. But with Cheney/Bush and continued by Obama they got out the high speed power driver.

This may actually be a good thing. The end is nearing for American democracy and the collapse of our economy, this is inevitable, IMHO, I think sooner is better than later.

[TeaBagsAreForCups]

87. Quel suprise...

...quel friggin' surpise.

[TomClash]

88. Incredible, inexcusable, incompetent nt

[xchrom]

89. recommend

[MissDeeds]

91. K&R

Another disgusting move by this administration.

[quickesst]

92. You get what you voted for.......

Most here have no room to bitch, and many good people are gone who do. Thanks.
quickesst

[xiamiam]

99. not quite..many of us voted for much needed change..which was the package

presented to us...that is what we didn't get..its taken a while for most to actually realize that. Now, it's out in the open and undeniable...which is a good thing because we can move forward with common understanding

[Hestia]

107. Exactly xiamiam - we were activally and consistently lied to for 2 years

by everybody. The very same people now are telling to buck up and get the fuck over it. Obama the campaigner was on our side, Obama the president has pretty much pissed on all the voters. You could see it this summer when he finally started campaigning for the Democrat's he approved of. It was stale, recycled bullshit and it showed in his eyes and on his face.

We voted for him in good faith and citizenship.

I can't figure out what to do now, other than leave the country. I never worshiped this man, but I did have faith that civility would come back, just plain common decency. Where do you go when that leaves, smacking you upside the head and blaming you for believing just one more time?

Did you know that 10,000 people left the country when SCOTUS anointed *? The IRS has actively been seeking these people who walked onto a plane and vanished in December 2000/early January 2001. I do wish I had been that prepared back then, and now.

[DainBramaged]

101. And some people here wonder why we are pissed off.....

Tony says, YOU FAIL

[struggle4progress]

104. It's mid-December: it doesn't make any sense to try to start now to engineer support

for another bill -- the lame duck is nearly over. Why wasn't Katrina vanden Heuvel beating a drum on this back in June?

[struggle4progress]

105. Here's the text of 110th Congress Public Law 343:

Perhaps someone will kindly point out under what monies under what section are alleged to be available for legal aid purposes

An Act

To provide authority for the Federal Government to purchase and insure
certain types of troubled assets for the purposes of providing stability
to and preventing disruption in the economy and financial system and
protecting taxpayers, to amend the Internal Revenue Code of 1986 to
provide incentives for energy production and conservation, to extend
certain expiring provisions, to provide individual income tax relief,
and for other purposes. <<NOTE: Oct. 3, 2008 - >>

Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,

DIVISION A--EMERGENCY <<NOTE: Emergency Economic Stabilization Act of
2008.>> ECONOMIC STABILIZATION
SECTION 1. <<NOTE: 12 USC 5201 note.>> SHORT TITLE AND TABLE OF
CONTENTS.

(a) Short Title.--This division may be cited as the ``Emergency
Economic Stabilization Act of 2008''.
(b) Table of Contents.--The table of contents for this division is
as follows:

Sec. 1. Short title and table of contents.
Sec. 2. Purposes.
Sec. 3. Definitions.

TITLE I--TROUBLED ASSETS RELIEF PROGRAM

Sec. 101. Purchases of troubled assets.
Sec. 102. Insurance of troubled assets.
Sec. 103. Considerations.
Sec. 104. Financial Stability Oversight Board.
Sec. 105. Reports.
Sec. 106. Rights; management; sale of troubled assets; revenues and sale
proceeds.
Sec. 107. Contracting procedures.
Sec. 108. Conflicts of interest.
Sec. 109. Foreclosure mitigation efforts.
Sec. 110. Assistance to homeowners.
Sec. 111. Executive compensation and corporate governance.
Sec. 112. Coordination with foreign authorities and central banks.
Sec. 113. Minimization of long-term costs and maximization of benefits
for taxpayers.
Sec. 114. Market transparency.
Sec. 115. Graduated authorization to purchase.
Sec. 116. Oversight and audits.
Sec. 117. Study and report on margin authority.
Sec. 118. Funding.
Sec. 119. Judicial review and related matters.
Sec. 120. Termination of authority.
Sec. 121. Special Inspector General for the Troubled Asset Relief
Program.
Sec. 122. Increase in statutory limit on the public debt.
Sec. 123. Credit reform.
Sec. 124. HOPE for Homeowners amendments.
Sec. 125. Congressional Oversight Panel.

<[Page 122 STAT. 3766>]

Sec. 126. FDIC authority.
Sec. 127. Cooperation with the FBI.
Sec. 128. Acceleration of effective date.
Sec. 129. Disclosures on exercise of loan authority.
Sec. 130. Technical corrections.
Sec. 131. Exchange Stabilization Fund reimbursement.
Sec. 132. Authority to suspend mark-to-market accounting.
Sec. 133. Study on mark-to-market accounting.
Sec. 134. Recoupment.
Sec. 135. Preservation of authority.
Sec. 136. Temporary increase in deposit and share insurance coverage.

TITLE II--BUDGET-RELATED PROVISIONS

Sec. 201. Information for congressional support agencies.
Sec. 202. Reports by the Office of Management and Budget and the
Congressional Budget Office.
Sec. 203. Analysis in President's Budget.
Sec. 204. Emergency treatment.

TITLE III--TAX PROVISIONS

Sec. 301. Gain or loss from sale or exchange of certain preferred stock.
Sec. 302. Special rules for tax treatment of executive compensation of
employers participating in the troubled assets relief
program.
Sec. 303. Extension of exclusion of income from discharge of qualified
principal residence indebtedness.

SEC. 2. <<NOTE: 12 USC 5201.>> PURPOSES.

The purposes of this Act are--
(1) to immediately provide authority and facilities that the
Secretary of the Treasury can use to restore liquidity and
stability to the financial system of the United States; and
(2) to ensure that such authority and such facilities are
used in a manner that--
(A) protects home values, college funds, retirement
accounts, and life savings;
(B) preserves homeownership and promotes jobs and
economic growth;
(C) maximizes overall returns to the taxpayers of
the United States; and
(D) provides public accountability for the exercise
of such authority ...

http://www.gpo.gov/fdsys/pkg/PLAW-110publ343/content-detail.html

[Recursion]

110. Sec. 109, conceivably (nt)

[struggle4progress]

111. Maybe. Section 110 looks a bit more promising. But these sections

might apply only to properties in which the Federal government has acquired some interest -- and if "assistance" isn't spelled out, the courts may defer to the agency's interpretation

[Recursion]

112. Oh, I'm not saying the lawyer was wrong

I have no idea and I'm not going to grind through that bill to find out. But if I were looking, those sections would be a good start.

[w4rma]

113. Obama: Uniting Republicans and Democrats against him. (nt)

[glinda]

114. Am kinda thinking that they use "Thetan" Scientology methods to control

people within our Government. Makes me wonder seriously when looking at Obama's behavior.

[Cal Carpenter]

115. This is something that would actually help people in need

Unlike Making Home Affordable act, or the health care act, or cash-for-clunkers, this would actually help poor people. It would actually allow for some possibility of justice for individuals who are powerless against the banks.

So of course it can't be approved. This is America for chrissakes. Where do you think you are, everyone-gets-a-pony-land?

[AllyCat]

116. There is no doubt who runs the show right now. Obama probably has had

little choice in the matter, but a fight would have been nice.

[Starry Messenger]

127. recommend.