By Alexis Stodghill on Oct 7th 2010 4:00PM
Filed under: News, Housing, Mortgage
As the
Business Insider is reporting, President Barack Obama is finally showing a spine. As much as I love the president, he has been entirely too conciliatory toward politicians who seem hell bent on selling out the American middle class at all costs. The president, constantly seeking fair compromise while Republicans go for blood, has watered down useful plans like health care reform in the process, and even tabled no-brainer issues like repealing tax breaks for the rich. Obama's desire to
"reach across the aisle" has effectively forced him to abandon the mandate for change that helped get him elected.
Well,
finally, "No Drama Obama" will take no more. The
Daily Beast has put it succinctly:
President Obama will "pocket veto" a bill that passed through Congress that could have made it easier for banks to foreclose on homeowners. The Interstate Recognition of Notarizations (IRON) Act was supposed to make it easier for states to recognize documents notarized in other states; however, the bill passed through Congress with almost no debate, and so it fell to consumer groups to point out that it could have the unintended consequence of making it easier for banks to remove homeowners from their homes. The pocket veto is when the president refuses to sign a bill, and Congress must be adjourned for a pocket veto to take effect.
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Recent Obama Photos
President Barack Obama and First Lady Michelle Obama makes their way into the East Room for a Medal of Honor presentation ceremony October 6, 2010 at the White House in Washington, DC.
AFP PHOTO/Mandel NGAN
AFP
BlackVoices.com
Recent Obama Photos
President Barack Obama and First Lady Michelle Obama makes their way into the East Room for a Medal of Honor presentation ceremony October 6, 2010 at the White House in Washington, DC.
Recent Obama Photos
President Barack Obama addresses the 2010 Fortune Most Powerful Women Summit at the Mellon Auditorium October 5, 2010 in Washington, DC.
Recent Obama Photos
First Lady Michelle Obama smiles as U.S. President Barack Obama delivers remarks during a Diplomatic Corps Reception on October 5, 2010 in Washington, D.C. Obama welcomed foreign diplomats during a reception, and spoke on various topics from global economic growth to peace in the Middle East.
Recent Obama Photos
House Majority Leader Steny Hoyer of Md. applauds at right as President Barack Obama walks out to speak at a campaign rally for Maryland Gov. Martin O'Malley, Thursday, Oct. 7, 2010, at Bowie State University in Bowie, Md.
Recent Obama Photos
President Barack Obama (L) signs the Reducing Over-Classification Bill as Rep. Jane Harman (D-CA) looks on in the Oval Office of the White House October 7, 2010 in Washington, DC. Harman introduced the bill with the aim of reducing government secrecy.
Recent Obama Photos
President Barack Obama, and his daughters Sasha, right, and Malia, second from right, walk across the South Lawn of the White House after stepping off of Marine One in Washington, Sunday, Oct. 3, 2010, as they return from Camp David.
Recent Obama Photos
President Barack Obama waves as he and first lady Michelle Obama, left, and their daughters Sasha, right, and Malia, second from right, walk across the South Lawn of the White House after stepping off of Marine One in Washington, Sunday, Oct. 3, 2010, as they return from Camp David.
Recent Obama Photos
This handout photo provided by the Supreme Court show President Barack Obama greeting Justice Elena Kagan outside the Justices' Conference Room prior to her Investiture Ceremony, Friday, Oct. 1, 2010, at the court in Washington. At center is Chief Justice John Roberts.
Recent Obama Photos
President Barack Obama speaks on the economy to a group gathered at the Southhampton Recreation Association on September 29, 2010 in Richmond, Virginia. The past two days President Obama has traveled to battle ground states speaking about the economy and made his final stop in Richmond speaking to voters in the district of House Minority Whip Eric Cantor (R-VA).
Recent Obama Photos
President Barack Obama speaks at an event presented by GEN44 and the Democratic National Committee at DAR Constitution Hall on September 30, 2010 in Washington, DC. GEN44 And The Democratic National Committee Present BoB DAR Constitution Hall Washington, DC United States September 30, 2010.
Recent Obama Photos
Seriously, haven't the banks had an easy enough time during the foreclosure crisis? Banks such as Wells Fargo have already gotten off scott free for targeting people of color for bad subprime loans (unless you count them being sued by one entity --
the city of Baltimore). Now the industry is trying to use the legislative system to make it even easier to take back the homes they should never have approved people for in the first place.
At this point, between the bank bailout and the bailout of the investment banking industry, somebody has to put their foot down. I am so glad that this person is President Barack Obama. The use of taxpayers' dollars and the systems of government by financial institutions to support their own profit-taking at the expense of consumers is reaching a shameless high. For some reason, Republicans for the most part seem eager to help. Obama has finally realized that now is the time to stop working peaceably with them.
Related:
+It's Not Black People on Welfare:
30% of Taxes Goes to Social Security, Medicare & Medicaid
+Mayor Cory Booker Comments on
Zuckerberg's $100 Million Education Gift to Newark
Now that the president seems ready, willing and able to take a stand on what could be unpopular issues, he should tackle
African American unemployment. Who knows? He might even be able to prevent
black folks from rioting over the issue.
Juuuust kidding...
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Comments: (11)
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By: Wallace D.Johnson, Jr on 10/09/2010 10:00AM
We get you "Daddy Long" Short "Third Leg"! LMAO!!!!!!!
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By: Teco on 10/09/2010 12:19PM
Hey William, you are to stupid to read so stop
trying to spread your REDNECK gossip of lies.
Try taking your dummmm ass to school. Gun ownership
should be the least of your concerns. "IDIOT"
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By: ADRIAN HARRIS OF SOUTH GEORGIA GO!! GRAMBLING STATE UNIVERSITY!!! GO!!! WORLD CLASS DRIVE!!! on 10/09/2010 2:22PM
HAIL!!! ABBA!! HAIL YE!! GOD THE FATHER ALMIGHTY!!! EXPLAINER OF YOURSELF; THE AWSOME!!!! HAIL!!! MASCULINE SALUTATIONS TO YOU ENERGY BENDER/BINDER!!! HAIL!! SEPIA SPECTRUM PEOPLE!!!! READ THE COMMENTS OF THE ARTICLE, HAVE NO THOUGHTS ON IT DIRECTLY RIGHT NOW EXCEPT MAYBE A FEW POINTS. BUT SOMETHING I FOUND ON THE WEB ABOUT OUR BROTHER SUPERMAN'S EXPLOITS, BESIDES OUR "SISTER SUPERWOMAN WIFE OF THE PRESIDENT BEING NAMED BY "FORBES MAGAZINE" AS THE MOST POWERFUL WOMAN ON EARTH". NICE MATCH TO GO ALONG WITH THE "PRESIDENT OF THE UNITED STATES", "THE MOST POWERFUL MAN ON EARTH". HAVE ALSO NOTICED THAT THE TWO MOST POWERFUL HUMANS ON PLANET EARTH ARE....BLACK, AFRICAN AMERICANS, MALE AND FEMALE, THE SON AND DAUGHTER OF SLAVERY AND DIASPORA LIKE THE REST OF US, IN LOVE, HAVE CHILDREN.....AND YOU NEED MORE PROOF THAT THERE IS A GOD. BUT NOT PREACHING; NOT MY DICIPLINE. ON WHAT I READ: IT SEEMS THAT OUR PRESIDENT IS SUFFERING FROM THE LACK OF A ADEQUATE PR TEAM. HIS SUCESSES: (1)THE TARP BAILOUT FUNDS; HAVE BEEN LARGELY BEEN REPAID TO DATE. OF THE $700,000,000,000(700 BILLION DOLLARS) ALLOCATED, LESS THAN HALF(1/2) OF THIS MONEY ACTUALLY GOT DISPERCED AND 50 BILLION DOLLARS($50,000,000,000) OF THIS LESS THAN HALF HAVE YET TO BE REPAID. BY THE TIME ALL THE MONEY IS RETURNED, AND IT LOOKS LIKE PRETTY SOON, THE GOVERNMENT WILL LIKELY HAVED TURNED A "SMALL PROFIT" SINCE THE MONEY WAS "LENT WITH INTEREST". MOST ECONOMIST AGREE THAT THIS MONEY WAS NEEDED TO "PREVENT" A "TOTAL COLLAPSE OF THE U.S. FINANCIAL SECTOR" WHERE "MOST" OF OUR "CAPITAL SOURCES AND PENSION PLANS ARE HIGHLY DEPENDENT UPON". (2)STIMULUS PACKAGE: ADMINISTERED AND SCHEDULED UNDER BUDGET WITH FEW CLAIMS OF FRAUD AND ABUSE WHICH ALWAYS HAPPENS WITH ANY GOVERNMENT PACKAGE OR PROGRAM AT HIGH RATES. NOT THIS ONE. NEXT; IT DELIVERED THE JOBS IT PROMISED. THE "CBO" HAS FORECAST IT MAY MEET THE 3.5 MILLION JOBS PROMISED BY THE END OF THIS YEAR. NEARLY 1/3 OF THE PACKAGE WAS MADE OF TAX CUTS FOR FAMILIES AND SMALL BUSINESSES AND ANOTHER 1/3 FOR UNEMPLOYMENT BENEFITS AND PAYMENTS TO THE STATES TO STAVE OFF AN ECONOMIC DEPRESSION. MOST ECONOMIST AGREE THAT WITHOUT THE STIMULUS PACKAGE, WE'D BE PUSHING A 12%(PERCENT) UNEMPLOYMENT RATE HAD NOTHING BEEN DONE. (3)THE AUTO MANUFACTORS BAILOUT: 2/3'S OF THIS MONEY HAS BEEN REPAID AND NIETHER GM(GENERAL MOTORS) OR CHRYSLER IS ANYWHERE NEAR EXTINCTION ANYMORE. WITHOUT THE PRESIDENT'S INTERVENTION, THE ABOVE WOULD HAVE HAD A JOB DESTROYING RIPPLE EFFECT ON THE MANY OTHER COMPANIES WHICH FEED ON THE AUTO INDUSTRY WHICH WOULD HAVE JEOPORDIZED THE PENSIONS OF COUNTLESS FORMER AUTOWORKERS. WHO KNOWS WHAT WOULD HAVE FINCIALLY FALLEN OUT AFTER THIS. (4) THE $250,000,000 DOLLARS OF AID GIVEN TO OUR HISTORICALLY BLACK COLLEGES AND UNIVERSITIES(HBCU'S) TO AID US IN OUR FIGHT. IN THE HISTORY OF THIS AMERICA, NO CENTRAL GOVERNMENT HAS EVER PAID ANY FINANCIAL ATTENTION TO OUR POOR, COURAGEOUS, INCREDIBLE, SUCESSUFUL SELVES. THERE IS MORE, LIKE THE PULLOUT OF IRAQ BUT THAT'S IT FOR MY SORE BEHIND! NEXT TIME Y'ALL!!! DRINK PLENTY OF WATER AND EAT GOOD LOW FAT FOOD. EXCERCISE IF IT IS POSSIBLE AND LET'S PRAY!!! YES HELL WE DID!!! BYE Y'ALL!!! LOVE NOW!!!!
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By: Daniel on 10/09/2010 2:55PM
The headline is quite offensive.
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By: Jay on 10/09/2010 3:46PM
Mr. william, you are just like a child, complaining because you don't like spinach. What about the other food in your tray?
I WILL ADVICE YOU TO STOP BEING SELFISH! look at the cumulative great accomplishments of the commander in chief. He might not have started the Empire state building, neither did he reduce the unemployment rate to 3%. The fact is that President Bush "did us". He assumed an immersely unruly atmospere. You guys have to give him more than 4 years to accomplish his aims. Be human and stop being judgemental. The president might not have done everything the way I will applaud, however, he has done much more positive things, as long I am concerned.
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By: clifton ford on 10/09/2010 6:20PM
Anybody that can not spell, surely don't need to own a handgun or any other dangerous weapon! ROTFL
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By: SANDEE on 10/09/2010 6:39PM
YOU SHOULD BE WORRYING ABOUT THE FACT THAT YOU CAN'T SPELL. WHERE DID YOU GO TO SCHOOL AND WHO LET YOU GRADUATE? IDIOT!!!!!! SHAMEFUL!!!!!!!!!!!!
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By: poetrysez on 10/09/2010 8:15PM
Kudos Mr. President ;}
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By: s walker on 10/09/2010 8:34PM
William ,I am seriously tired of this nonesense with you tea baggers, moaning and groaning over your guns already. You must be compleately spineless or such a nitwit that . Your only means of resolving an issue is to exhibit a lock and load episode. You had eight years to to make a difference in all aspect of this country , For all people of this country. However, you chose to continue a century old tradition .Of us against them.For your information The President of these United State, is Mr.Barack Obama the last person on his mind is you and your guns. so get a life, And accept the fact that you verbally agressive gops are running one thing and that's your mouth...OOOOOOK,
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By: EB on 10/10/2010 12:35PM
"Pimp-Slap"?--Please be for real.
First, do you really think that the black people on BV can only relate to street talk?
Secondly, passing legislation that will only "delay" the inevitable for those people in foreclosure is a waste of our taxpayer dollars.
But even more importantly, why should taxpayers who struggle to stay current on their mortgages "bail out" those who knew that they could not afford their investments? Real Estate is not free and this legislation is just another political gimmie-lend-me, let me have.
And if Mr. President wants to pimp-slap somebody then he should pimp-slap himself for pimping out the black community.
He should also pimp-slap himself for appointing his friend Austin Goolesby as his Chief Economic Advisor knowing full well that Mr. Goolsby wrote a published paper that supported Sub-Prime Loans--the very culprits that have been identified as the direct cause of the mortgage problems.
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