Monday, August 01, 2011

Breivik wins again

In typical Leftist kneejerk fashion, the first appearance in court by Breivik was held in secret, which is contrary to Norwegian custom, as I understand it.

So the government of Norway itself has confirmed Breivik's complaint that Norway and other European countries suppress speech of which they disapprove. They were so afraid of Breivik's "loony" ideas that they forbad Norwegians from hearing anything about them.

So they're not even smart Fascists. It confirms my contention that the ultimate cause of Breivik's appalling rampage was not Breivik's mental limitations but rather the Leftist government of Norway. If words are suppressed, bullets may be the only thing that can replace them.

If only Norway had a First Amendment .....

Another writer looks ahead to Breivik's next court appearance:
"There has been widespread support within Norway for a closed trial, to deny Breivik the platform he appears to be seeking. Given the scale of what has happened there is unquestionably something obscene about the prospect of watching him expound his lunatic worldview to an international audience.

But the fear that such exposure would necessarily boost Breivik’s cause, and encourage likeminded bigots elsewhere, must be resisted. In fact it is precisely on occasions like these that a vibrant public sphere matters most.

The belief that freedom of expression is the fundamental requirement of an open society is based on the idea that grievances like those which animate racist and xenophobic political groups throughout Europe are better aired in the context of civilized debate rather than allowed to fester in private societies.

Distasteful as it may seem to many of us, it is better in the long run for prejudices to be openly debated and defeated by better arguments. Otherwise the hatreds of these groups become self-reinforcing.

Prejudice and paranoia never survive the rigours of open debate, and the horrors of the massacre in Norway should not be allowed to obscure this important truth.

Source

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Unbelievable: Obama admin. trying to set up America for a second big bank crisis

The Department of Justice is executing a "Witch Hunt" against banks. Through the DOJ's Civil Rights Division, Attorney General Eric Holder is forcing banks to "relax their mortgage underwriting standards and approve loans for minorities with poor credit as part of a new crackdown on alleged discrimination," according to a published report by Investor's Business Daily after reviewing court documents.

The DOJ has already extorted $20 million for weak and poor credit loans from banks that "settled out of court rather than battle the federal government and risk being branded racist." The DOJ admits another 60 banks are already under "investigation." Holder's demanding the banks sign "non-disclosure" settlement agreements barring them from talking while allowing the DOJ to operate behind a curtain of secrecy.

The settlements already extracted from banks force them to make "prime-rate mortgages to low income blacks and Hispanics" with credit problems, even if they are living on welfare. According to IBD, the DOJ has ordered banks to advertise that minorities cannot be turned down for a loan "because they receive public aid, such as unemployment benefits, welfare payments or food stamps." No job; no problem!

In other words, the DOJ is forcing banks to make loans to people that they know don't qualify for them and likely won't be able to afford to repay them, which is precisely the kind of failed public policy that precipitated the financial collapse and recession in 2008.

The DOJ ordered Midwest BankCentre to provide "special financing" in the predominantly black areas of St. Louis for fixed prime rate conventional home loan financing for borrowers "who would ordinarily not qualify for such rates for reasons including the lack of required credit quality, income or down payment."

Eric Holder and the head of his Civil Rights Division, Tom Perez were both protégés of Janet Reno who launched a similar attack on banks in the early years of the Clinton Administration. That led to an expansion of the Community Reinvestment Act, CRA, and an explosion of forced lending to low-income, poor credit risk borrowers and the sub-prime mortgage industry that collapsed in 2008. Under the weight of massive guarantees of poor quality and defaulted mortgages, the federal government was forced to seize Fannie Mae and Freddie Mac. To date about $150 billion has been required to bailout the two agencies to keep them solvent.

Like Reno, Holder and Perez are pushing their own social agenda, and ramifications to the financial sector and total economy are meaningless to them. They willingly pervert the law and leverage the full weight of the Justice Department to intimidate banks to accomplish their objectives.

Credit analysis and repayment ability of the borrower matter none to Holder and Perez. To them, if a minority is turned down for a loan, it must surely be evidence of racial discrimination. Perez has gone so far as to compare bankers to the Ku Klux Klan. The only difference between bankers and the KKK, he says, is that bankers discriminate "with a smile" and "fine print," but they are "every bit as destructive as the cross burned in a neighborhood."

Holder and Perez appointed another Janet Reno alumnus, Eric Halperin, as Special Counsel for Fair Lending. Previously, Halperin was a lobbyist for the leftist Center for Responsible Lending (CRL) where he pressed congress and the various agencies for continued relaxing of lending standards. Just how objective do you suppose this "special lending cop" is in applying the law?

CRL's website reveals their leftist perspective and agenda; "lenders have strong incentives to engage in unfair, deceptive practices and to aggressively market loans designed to fail." That's pure hooey, of course. Banks make a profit if loans are paid back. They sustain losses when loans fail. But, this phony theory of "disparate impact" or "red-lining" has been used by the left for decades to convince politicians and bureaucrats to force unsound, unsafe lending practices, the consequences of which have been manifested in the current economic mess.

The forced settlements have gone well beyond lending. The concessions that DOJ has imposed have even required banks to fund inner-city "community organizers." According to IBD, "lenders are being forced to bankroll Acorn clones that often exist just to shake them down for risky loans."

As DOJ strong arms banks to relax lending standards to satisfy the Obama Administration's racialist social agenda, other federal agencies are telling banks to do just the opposite. "Banks are damned if they do, damned if they don't," according to Ernest Istook, a Heritage Foundation fellow and former Member of Congress who is critical of DOJ for forcing "affirmative action lending."

The current economic crisis has stressed even the strongest of banks. Bank safety and soundness examiners from the Federal Reserve, the OCC, FDIC, OTS, and NCUA have put the fear of God into banks all across the nation demanding tightened credit standards. They have forced banks to increase capital, add to reserves for losses, mark down asset value of existing credit assets, and questioned virtually every loan the banks make. The CEO of one historically successful community bank told me a regulator demanded, "You will not make another commercial real estate loan." How that bank was supposed to meet the needs of the small businesses in the community while not making loans on commercial real estate was of no concern to the regulator.

The newspapers are full of reports that the government has seized and closed banks, removed management and boards of directors, placed banks on written agreements so tightly drafted that the government has essentially assumed management of the bank while the shareholders, directors and management are still stuck with full risk and liability.

Banks are selling, consolidating, and closing all across America, and going with them is the access to capital and importantly the personal relationship that historically has been vitally important to the success of our entrepreneurial free-market economy. Over 1400 bank offices have closed in the last two years, and many more are expected in 2011. In the wake are exasperated small businessmen wondering what to do next.

If you're confused by the mixed signals and heavy-handedness of government, how would you like to be a banker? Little wonder that banks are afraid to lend and many are almost in lock down. Politicians can talk all they want about getting capital and the economy moving again, but the uncertainty and mixed signals coming from Washington are big reasons why both lenders and borrowers are hiding out in their bunkers.

Thomas Lifson, writing in American Thinker about the DOJ's witch hunt, notes that bankers tend to be "a cowardly lot when confronted by the power of the State." Who can blame them when the government has the power to lock their doors and seize their assets?

Lipson goes on, "Nobody in a highly regulated business wants the government publicly charging racism. A comparatively small group within the Civil Rights Division at the Justice Department has assumed the role of national bank regulators with the intent of favoring groups they support. It's a corruption of the legitimate role of government." Corruption may be an overly polite description.

Added to the bi-polar treatment from the DOJ and other regulators is the fact the very government that controls their every move is now a larger source of consumer credit that all of the private sector banks combined. Recently released Federal Reserve Bank data documents a remarkably rapid and substantial shift to the government as the new credit goliath.

As recently as 2006, the private banking sector provided $2 in outstanding home mortgages and consumer credit for every $1 of government financed loans. The data from the Fed, however indicates that government loans and guarantees now total $6.32 trillion, up from just $4.40 trillion at the end of 2006. For the same period, the private sector market share shrunk to $6.58 trillion from $8.48 trillion.

Curiously, the Fed doesn't count the half-trillion dollars worth of guaranteed student loans as part of the government's total. Historically, local banks originated and financed the Federal Family Education Loan program and the government insured the loans against any loss. But, in 2009 as part of the ObamaCare legislation, the private sector was completely eliminated and beginning in 2010 the government took total control of the entire program. When student loans are added, the government surpasses the entire private sector totals. Even without student loans, with the current trend the government is poised to eclipse the private lenders likely within the current quarter.

The almost overnight collapse of the market for mortgage backed securities as a result of the sub-prime lending debacle – largely precipitated by misguided federal policy forced on lenders – evaporated the private mortgage market, and left Fannie Mae and Freddie Mac – that had been seized by the government – as the only game in town for home mortgages.

In the blink of an eye, the federal government went from the small player facilitator to the dominant force in the financial industry dwarfing the combined efforts of the entire private sector competitors. Additionally, the Top Dog in the credit market place is also the all-powerful regulator over the little dogs in the private sector wielding absolute and largely unaccountable authority over their every move. Through the Federal Reserve, that same government controls the price, the access, the circulation, and amount of the currency on which the rest of the market must be dependent. With a national debt of $14.5 trillion and growing, the largest supplier of loans in the world also has the world's greatest demand for credit sucking up massive amounts of available investment capital to finance the growing national debt before the rest of the market gets a chance.

In reality, the federal government during the last two years has essentially seized the banking industry.

SOURCE

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Opposing the Health Law, Florida Refuses Millions

When it comes to pursuing federal largess, most of the states that oppose the 2010 health care law have refused to let either principle or politics block their paths to the trough. If Washington is doling out dollars, Republican governors and legislators typically figure they might as well get their share.

Then there is Florida. Despite having the country’s fourth-highest unemployment rate, its second-highest rate of people without insurance and a $3.7 billion budget gap this year, the state has turned away scores of millions of dollars in grants made available under the Affordable Care Act. And it is not pursuing grants worth many millions more.

In recent months, either Gov. Rick Scott’s administration or the state’s Republican-controlled Legislature has rejected grants aimed at moving long-term care patients into their homes, curbing child abuse through in-home counseling and strengthening state regulation of health premiums. They have shunned money to help sign up eligible recipients for Medicare, educate teenagers on preventing pregnancy and plan for the health insurance exchanges that the law requires by 2014.

While 36 states shared $27 million to counsel health insurance consumers, Florida did not apply for the grants. And in drafting this year’s budget, the Legislature failed to authorize an $8.3 million federal grant won by a county health department to expand community health centers.

In interviews, Mr. Scott, a Republican, and state legislative leaders were clear about their rationale. They said they detested everything about the federal health law, which was declared unconstitutional by a federal judge in a case filed by the state. Unless ordered to do otherwise by an appellate court, they said, they had no intention of putting it in place, even if that meant leaving money on the table.

“There are a lot of programs that the federal government would like to give you that don’t fit your state, don’t fit your needs and ultimately create obligations that our taxpayers can’t afford,” said Mr. Scott, a former hospital company executive who rose to political prominence by financing an advertising campaign against the health care legislation.

State Representative Matt Hudson, the chairman of the Health Care Appropriations Subcommittee, said his chamber’s leadership felt the same way.

“I do not believe that act is the right thing for the country or the right thing for Florida,” Mr. Hudson said, “and I am not going to start implementing things that I don’t believe in.” Asked whether states had the authority to stymie federal law, Mr. Hudson answered, “We’re not required to accept a grant.”

More HERE

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ELSEWHERE

Felons to Join the Upper Caste in San Francisco: "Under liberalism, America has become a class-based society. Some are born into privilege as a result of their skin color, but you can also enter the favored caste by being in the country illegally, by affirming your homosexuality, or — since 9/11/01 — by being Muslim. If none of those approaches works for you, just commit a felony and then move to San Francisco: San Francisco’s Human Rights Board wants to add ex-cons to the protected classes list that includes a person’s race and sex when it comes to housing and seeking employment. Only the lower castes can be denied jobs and housing, not special people like felons. As always with tyrannical moonbattery, lawyers will benefit from the pernicious law; it sets up endless opportunities for nuisance suits by ex-cons who aren’t given whatever they want."

Poll: Obama approval at new low (40%): "US President Barack Obama's job approval rating slumped to a personal low of 40 percent in a public opinion survey out Friday, a possible reflection of the political war over US debt. The respected Gallup polling organization said Obama had previously slipped to 41 percent several times since taking office in January 2009, but noted his approval rating was 50 percent as recently as June 7."

There is a new lot of postings by Chris Brand just up -- on his usual vastly "incorrect" themes of race, genes, IQ etc. -- though he has quite a bit to say about Breivik, this time

My Twitter.com identity: jonjayray. My Facebook page is also accessible as jonjayray (In full: http://www.facebook.com/jonjayray). For more blog postings from me, see TONGUE-TIED, EDUCATION WATCH INTERNATIONAL, GREENIE WATCH, POLITICAL CORRECTNESS WATCH, GUN WATCH, FOOD & HEALTH SKEPTIC, AUSTRALIAN POLITICS, IMMIGRATION WATCH INTERNATIONAL, EYE ON BRITAIN and Paralipomena

List of backup or "mirror" sites here or here -- for readers in China or for everyone when blogspot is "down" or failing to update. Email me here (Hotmail address). My Home Pages are here (Academic) or here (Pictorial) or here (Personal)

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The Big Lie of the late 20th century was that Nazism was Rightist. It was in fact typical of the Leftism of its day. It was only to the Right of Stalin's Communism. The very word "Nazi" is a German abbreviation for "National Socialist" (Nationalsozialist) and the full name of Hitler's political party (translated) was "The National Socialist German Workers' Party" (In German: Nationalsozialistische Deutsche Arbeiterpartei)

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