pkarnig’s posthaven

But financial burdens for big banks are not all that’s at stake here. Perhaps even more significant are the social costs associated with mortgage paperwork improprieties and any attempt to brush them under the rug.

“If the public gains the impression that the government is providing concessions to large banks in order to ensure the smooth processing of foreclosures,” the report contends, “the people’s fundamental faith in due process could suffer.”

And along with it, their faith in the government.

This is really what this issue is all about: Is our government in place to support the people or big business. It certainly looks to me like the latter. What do you think?

In testimony before a House Financial Services subcommittee, Phyllis Caldwell, chief of Treasury's Homeownership Preservation Office, said her department has pursued "non-monetary remedies" but has not actually imposed any fines on banks for not complying with the administration's flagship $50 billion foreclosure prevention program.

Even in the midst of a growing controversy over allegedly fraudulent foreclosure paperwork, Treasury has not imposed any penalties on banks.

By many estimates, the Home Affordable Modification Program, which was launched last year, has been a failure. Although about 1.5 million borrowers were encouraged to sign up during its first year, 40 percent of those were kicked out of the program after initiating "trial" modifications, HuffPost's Shahien Nasiripour and Arthur Delaney reported. The program was intended to help up to 4 million homeowners avoid foreclosure.

In his latest report to Congress, the special inspector general for TARP Neil Barofsky said the mortgage-modification program can actually cause borrowers to go into foreclosure, due to extra fees that can accumulate on modified loans. The Government Accountability Office reported in March and in June not only that Treasury has not levied any fines on mortgage companies, but also that it hasn't even finalized guidelines for doing so.

THIS IS A FINAL urgent call for Obama to FIRE GEITHNER! He's done nothing but coddle the fraudsters at the dire expense of the middle class. Geithner has proven time and again that he works at the behest of plutocrats and not the 98%.

HAMP is a great program that's been indecently run. The government should have been in charge of administrating HAMP from the beginning, not the banksters whose bottom line is improved from foreclosure rather than a HAMP award. LOOSE Geithner, and put Warren in his place.

Here’s the thing: Mr. Obama still has immense power, if he chooses to use it. At home, he has the veto pen, control of the Senate and the bully pulpit. He still has substantial executive authority to act on things like mortgage relief — there are billions of dollars not yet spent, not to mention the enormous leverage the government has via its ownership of Fannie and Freddie. Abroad, he still leads the world’s greatest economic power — and one area where he surely would get bipartisan support would be taking a tougher stand on China and other international bad actors.

tell your friends to tell their friends to tell Obama we need you to act presidential and fight for the middle class that elected you. Not the fat cats in the banks and big business, they have had it good for too long.

Apple co-founder Steve Wozniak shared his thoughts on Android, the iPhone, Nokia, and more in an interview with De Telegraaf, a Dutch newspaper.

Rivalry between Google's Android operating system and Apple's iPhone has intensified recently, and Wozniak seems to think Android may come out ahead.

According to a translation of the article, Wozniak predicts Android will, before long, be on par with the iPhone and may even overtake it.

The point is: Apple has the better product and will continue to dominate the high end, high margin part of the business. How can this come as a surprise to anyone?