Posted on 10/07/2010 8:03:55 AM PDT by STARWISE
Both the left and right sides of the blogosphere are buzzing about a bipartisan TARP-style banking bailout bill that somehow reached President Obama’s desk in the legislative rush before Congress adjourned for the midterm election break.
The sordid episode underscores everything I’ve spotlighted about the culture of corruption over the last two years — sabotage of the deliberative process, circumventing of rules, backroom deals, and contempt for the will of the people.
Yes, the Vampire Congress strikes again.
The bill is HR3808, the “Interstate Recognition of Notarizations Act of 2010,” which requires courts to accept as valid notarized letters made out of state, making it harder to challenge the authenticity of foreclosure and other legal documents. Here’s the legislative history of the bill.
Reuters lays out the basic story:
*snip*
And now, the dirty details of the legislative legerdemain that paved the bill’s path to Obama’s desk:
After languishing for months in the Senate Judiciary Committee, the bill passed the Senate with lightning speed and with hardly any public awareness of the bill’s existence on September 27, the day before the Senate recessed for midterm election campaign.
The bill’s approval involved invocation of a special procedure. Democratic Senator Robert Casey, shepherding last-minute legislation on behalf of the Senate leadership, had the bill taken away from the Senate Judiciary committee, which hadn’t acted on it.
The full Senate then immediately passed the bill without debate, by unanimous consent. No debates.
No amendments.
No roll call votes.
More:
The House had passed the bill in April. The House actually had passed identical bills twice before, but both times they died when the Senate Judiciary Committee failed to act.
Some House and Senate staffers said the Senate committee had let the bills languish because of concerns that they would interfere with individual state’s rights to regulate notarizations.
Senate staffers familiar with the judiciary committee’s actions said the latest one passed by the House seemed destined for the same fate. But shortly before the Senate’s recess, Judiciary Committee Chairman Patrick Leahy pressed to have the bill rushed through the special procedure, after Leahy “constituents” called him and pressed for passage.
The staffers said they didn’t know who these constituents were or if anyone representing the mortgage industry or other interests had pressed for the bill to go through.
These staffers said that, in an unusual display of bipartisanship, Senator Jeff Sessions, the committee’s senior Republican, also helped to engineer the Senate’s unanimous consent for the bill.
Neither Leahy’s nor Session’s offices responded to requests for comment Wednesday.
Unanimous consent should be abolished.
It is unconstitutional (imho). The constitution requires all bills to be voted on. This is not a vote. They can spin it or use lawyer logic all they want, it is not a vote.
Something is going on they don’t want us to know about. Dad said a month ago the stock market would be manipulated before the election to look like it was getting healthier (Soros?).
Is there something else going on they are trying to protect?
You have to look at this law in the context of all of the recent (and apparently credible) allegations of fraudulent documents being used in foreclosure procedures. Do you think it coincidental that a bill making it harder to challenge such documents suddenly was rushed through the Senate shortly after this story started breaking?
I don't. I don't blindly trust corporate interests any longer, the financial crises has shown they have serious ethical problems that have been wedded to the other ethical problems that many of our elected officials carry.
YES, TERM LIMITS IS THE ONLY WAY. Career politicians are corrupt by definition.
...requires courts to accept as valid document notarizations made out of state, making it harder to challenge the authenticity of foreclosure and other legal documents.
Large banks want to reduce costs. It’s expensive to have a large bank, nationwide. Frankly, they don’t know the local markets, anywhere. But, wither selling, holding, packaging mortgages, or later foreclosing, they have you, via Uncle Sam, to pick up the losses. Private profit, public losses.
Now local banks don’t get bailed out if they make a local market error. Like us, local banks exist in local free market, and like us, exist only to be squeezed for taxes to support Washington, and large institutions, like the banks, GM, Amtrack, Unions.
The houses are in a state, the title in in a county. It should be delt with closest to the citizen and their property.
Pretty soon the corporations will want to foreclose out of one court in North Dakota, and if you or your lawyer can’t make it there for the 20 second hearing, tough luck.
But right now, the same large sloppy banks that got bailed out financially, and legally for writing all these bad notes, and made huge profits, now they don’t want to pick up the costs of foreclosing on them. Again, the citizens in general, spread out in various ways, pick up the cost of doing their national business model, they keep the savings and get the profits.
Another thing. These are zombie banks. They are dead. Both Republicans and Democrats are, after the first round of massive bailouts, desperate to, by hook or crook, get money into these banks. Otherwise there will be a second bailout or collapse of these banks, and then armed revolution and federal officials hanging from lamp posts. They really need a second bailout, or to be shut down. ( No private person or institution would every buy these toxic banks ) So the solution, bi-partisan in Congress is to rigg the game every which way to strip costs for these banks, and get them money.....all...all at the expense of the average citizen. But it has to be done without us catching on.
BtW, I believe in rapid, legal foreclose and do not and didn’t support Obama’s or anyone else so called modification efforts.
The sooner the house market clears, legally, the better.
But in this case, this is not what is going on behind the scenes.
Ha! So the neo-cons and RINOs are trying to get ahead of the tea parties in order to save their business-as-usual politics.
Step 1. Defeat the Rats.
Step 2. Throw out these corrupt Pubbies..
EXACTLY.
Especially because the same bill was introduced (by the same scum-sucking Republican) in the last session of Congress - and it went nowhere.
This session, it started going places as soon as the depositions of the robo-signers started hitting the ‘net in April...
Coincidence? I suppose some people still believe in the Tooth Fairy.
I’m not one of them, however.
First these coporations, really Washington’s Mini-Me’s got the bailouts.
Then they got the Federal Reserve Zero Interest money, rapping savers, pension funds( but, F’m, they’re sheeple ),
Now they are getting a sweetheart deal in clearing up these bad morgages.
It’s nice to be joined at the hip with the Fed, and Washington.
Like GW Bush’s Home Ownership Society, and Bwarny Fwank with his Democrat friends in Franny, and Fredie, it’s a bi-partisan porking. Again.
( What partisan? When ever it’s us, working stiff against big anything....unions, banks, corporations....there is no partisan for us. Renaming a post office? yeah, they put on a big show. Dog and pony. The important stuff? All aboard the public rape train, no stopping! )
Thank God he did. If foreclosures are stopped for good, we’ll never get out of this mess. If MBS are determined to be worthless on technicalities, our banking system would crumble. Yes, every bank - from the smallest credit union to JP Morgan Chase - would fail and the dollar would be destroyed.
The US wouldn’t be able print enough money to prevent it.
Think about it - any Senator could have stopped unanimous consent by objecting and no one did, not even Jim DeMint.
Maybe you’d prefer deadbeats being able to stay in their houses rent-free, regardless of the consequences for the rest of us?
Now Malkin’s site is saying that Obambi plans to veto it. Given what he wants for our country, what does that tell you?
Compared to what? The banks being forced for once to confront the consequences of their irresponsibility that led up to this mess? Seems to me the banks are the ones getting the free rent so far in this mess.
“Deemed as passed” again? This “Uber Czar” thing is working pretty good!
What does it say that it cleared the donk-dominated Senate with hardly a murmur of dissent?
There was no dissent. All it would have taken was one senator to say no.
“If MBS are determined to be worthless on technicalities...”
Technicalities???
So, not having title is just a technicality?????
There was a Freeper today I was posting with. Their mom paid OFF HER HOUSE SEVEN YEARS AGO AND HAS NOT GOT TITLE YET!!!!!!
technicality my @$$$$!!!!
As to clearing the market, yes, that DOES need to happen.
Does it need to happen AT THE EXSPENSE OF PROPERTY RIGHTS???
DOES IT?????
Sounds like an attempt at entrapment. What are you, a cop?
Lacking a title is now a technicality?
SECTION 1. SHORT TITLE.
This Act may be cited as the `Interstate Recognition of Notarizations Act of 2010′.
SEC. 2. RECOGNITION OF NOTARIZATIONS IN FEDERAL COURTS.
Each Federal court shall recognize any lawful notarization made by a notary public licensed or commissioned under the laws of a State other than the State where the Federal court is located if–
(1) such notarization occurs in or affects interstate commerce; and
(2)(A) a seal of office, as symbol of the notary public’s authority, is used in the notarization; or
(B) in the case of an electronic record, the seal information is securely attached to, or logically associated with, the electronic record so as to render the record tamper-resistant.
SEC. 3. RECOGNITION OF NOTARIZATIONS IN STATE COURTS.
Each court that operates under the jurisdiction of a State shall recognize any lawful notarization made by a notary public licensed or commissioned under the laws of a State other than the State where the court is located if–
(1) such notarization occurs in or affects interstate commerce; and
(2)(A) a seal of office, as symbol of the notary public’s authority, is used in the notarization; or
(B) in the case of an electronic record, the seal information is securely attached to, or logically associated with, the electronic record so as to render the record tamper-resistant.
NOPE. I am just pissed.
It’s just an idea and I just shared it.
If it comes back on me later, and there is a price to pay, I am sure I can count on you to point the finger directly at me.
I should thank you in advance.
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