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Archive for October 21st, 2010

Chicago Sheriff ‘Will Not Enforce Foreclosure Evictions’ By Bankers

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October 21, 2010: Reuters Editors / Reuters via CNBC Chicago – October 19, 2010

CHICAGO – Two of the largest U.S. mortgage servicers have said they will resume home foreclosures, but a big-city sheriff has news for them: he won’t enforce their foreclosure evictions.

The sheriff for Cook County, Illinois, which includes the city of Chicago, said on Tuesday he will not enforce foreclosure evictions for Bank of America Corp, JPMorgan Chase and Co. and GMAC Mortgage/Ally Financial until they prove those foreclosures were handled “properly and legally.” Bank of America, the largest U.S. mortgage servicer, and GMAC, on Monday both announced rollbacks from their foreclosure moratoriums.

The announcement by Cook County Sheriff Thomas Dart comes after weeks of damaging accusations of shoddy paperwork that may have caused some people to be illegally evicted from their homes. “I can’t possibly be expected to evict people from their homes when the banks themselves can’t say for sure everything was done properly,” Dart said in the statement.

“I need some kind of assurance that we aren’t evicting families based on fraudulent behavior by the banks. Until that happens, I can’t in good conscience keep carrying out evictions involving these banks,” he added. Bank of America, GMAC and JPMorgan Chase along with their subsidiaries, make up around a third of the roughly 3,700 eviction orders filed at the Cook County sheriff’s office, the statement said.

The foreclosure controversy, which has drawn public outrage and sparked government probes, has threatened bank earnings and the health of the fragile housing market. Two years ago Dart refused to carry out foreclosure evictions in cases where renters apparently had not been informed that they were about to be evicted from buildings in which their landlords had fallen into foreclosure. Some 20 Cook County sheriff’s deputies execute around 14,000 foreclosure and rental eviction notices every year.

The Producers: Part 3/14

The Tonka Report Editor’s Note: This video was posted by Michael Rivero of What Really Happened.com with the following commentary in response after this article was posted on his website. I defer to Mike

That may deal with the symptoms, but not the disease. There would not be a firestorm of foreclosures at all had the bankers not engaged in a scheme to over-sell mortgage backed securities for billions, then crashed the housing market to cover their tracks! All the poverty, debt, homelessness, and starvation Americans are dealing with every day was caused by the criminal bankers. Stopping the foreclosures does not even begin to redress the wrongs done to the nation by the bankers!

This is the scene in the show “The Producers” in which the accountant tells the producer that it might be possible to make more money by over-subscribing a show designed to fail then by actually working to produce a hit. All very funny in the stage play and the film until you realize that this is exactly what the nation’s financial corporations have done to us all! They over-subscribed the mortgage backed securities, making billions by re-selling the same mortgages over and over again up to 20 times, then foreclosed on the properties to cover the over-subscription!

And Congress, themselves invested in the firms that owned those mortgage backed securities, went along with the scam!

The housing market is being intentionally crashed by the banks and the US Government! – Mike Rivero

Albeit I agree with Mike, I think he understates the importance of a County Sheriff making this statement. Your County Sheriff is the most powerful elected official that trumps even your city Mayor… This is huge! – SJH

Link to original article below…

http://www.cnbc.com/id/39745284

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Most Americans Believe Obama Should Be A ‘One-Term’ President

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October 21, 2010: Clemente Lisi / New York Post – October 21, 2010

A majority of Americans don’t think President Obama deserves to keep his job, a poll released today shows.

With less than two weeks to go before the midterm elections, a survey conducted by Gallup shows that only 39 percent of Americans think Obama deserves to be re-elected in 2012.

A staggering 54 percent think he should be a one-term president, the poll found.

Earlier this year, between 46 and 48 percent of Americans said Obama should be re-elected. The survey also shows that Obama has averaged a job approval rating of 44.7 percent during the first seven quarters of his presidency.

Obama’s average approval rating has declined each quarter since he took office nearly two years ago — falling by more than two percentage points in the most recent quarter to establish a new low. Similar Gallup polling conducted in the past shows a lot can happen over the next two years for Obama.

At this time in 1994, for example, only 38 percent said former President Bill Clinton deserved a second term. Clinton cruised to win re-election two years later over Kansas Sen. Bob Dole. In 2002, 62 percent of Americans said former President George W. Bush deserved to be re-elected as the country unified around him following the 9/11 attacks. Two years later, Bush narrowly defeated Massachusetts Sen. John Kerry to keep his job.

With the midterm elections looming, Obama’s declining public support means the Democratic Party is vulnerable to heavy losses in Congress. Gallup said that the president’s party has traditionally lost an average of 36 House seats when his approval rating is below 50 percent. However, Ronald Reagan was in a similar bind two years into his presidency in 1982, but recovered in time to win a second term.

The Tonka Report Editor’s Note: Obama was a pacifier to allow the looting and wars to continue! – SJH

Link to original article below…

http://www.nypost.com/p/news/national/most_americans_believe_obama_will_wnYTmuds5FiTX2MQiBh4hN?sms_ss=email&at_xt=4cc083107a0b7a42,0

Breathtaking Ride On The Lockheed U-2 Spy Plane At 70,000 Feet

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October 21, 2010: Steven John Hibbs / The Tonka Report (TTR) – October 21, 2010

This is an absolutely breathtaking video taken aboard a Lockheed U-2 reconnaissance aircraft by James May of Top Gear at 70,000 feet. 

But first, a brief history of the U-2 is in order to help put the historical significance of the technology in perspective to fully understand…

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The Lockheed U-2, nicknamed “Dragon Lady”, is a single-engine, very high-altitude reconnaissance aircraft operated by the United States Air Force and previously flown by the Central Intelligence Agency.

It provides day and night, very high-altitude (70,000 feet / 21,000 meters), all-weather surveillance.[1] The aircraft is also used for electronic sensor research and development, satellite calibration, and satellite data validation.

Development: In the early 1950s, with Cold War tensions on the rise, the U.S. military required better strategic reconnaissance to help determine Soviet capabilities and intentions. The existing surveillance aircraft were primarily bombers converted for reconnaissance duty, vulnerable to anti-aircraft artillery, missiles, and fighters. It was thought an aircraft that could fly at 70,000 feet (21,000 m) would be beyond the reach of Soviet fighters, missiles, and even radar.[2] This would allow “overflights”—knowingly violating a country’s airspace—to take aerial photographs.

Under the code name “AQUATONE”, the Air Force gave contracts[3] to Bell Aircraft, Martin Aircraft, and Fairchild Engine and Airplane to develop proposals for the new reconnaissance aircraft. Officials at Lockheed Aircraft Corporation heard about the project and asked aeronautical engineer Clarence “Kelly” Johnson to come up with a design. Johnson was a brilliant designer, responsible for the P-38 Lightning, and the P-80. He was also known for completing projects ahead of schedule, working in a separate division of the company jokingly called the Skunk Works.

Johnson’s design, called the CL-282, married long glider-like wings to the fuselage of another of his designs, the F-104 Starfighter. To save weight, his initial design didn’t even have conventional landing gear, taking off from a dolly and landing on skids. The design was rejected by the Air Force, but caught the attention of several civilians on the review panel, notably Edwin Land, the father of instant photography. Land proposed to CIA director Allen Dulles that his agency should fund and operate this aircraft. After a meeting with President Eisenhower, Lockheed received a $22.5 million contract for the first 20 aircraft. It was renamed the U-2, with the “U” referring to the deliberately vague designation “utility”.

The first flight occurred at the Groom Lake test site (Area 51) on 1 August 1955, during what was only intended to be a high-speed taxi run. The sailplane-like wings were so efficient that the aircraft jumped into the air at 70 knots (130 km/h).[4]

James Baker developed the optics for a large-format camera to be used in the U-2 while working for Perkin-Elmer. These new cameras had a resolution of 2.5 feet (76 cm) from an altitude of 60,000 feet (18,000 m).[4] Balancing is so critical on the U-2 that the camera had to use a split film, with reels on one side feeding forward while those on the other side feed backward, thus maintaining a balanced weight distribution through the whole flight.

When the first overflights of the Soviet Union were tracked by radar, the CIA initiated Project RAINBOW to reduce the U-2’s radar cross section. This effort ultimately proved unsuccessful, and work began on a follow-on aircraft, which resulted in the Lockheed A-12 Blackbird [image above]. Manufacturing was restarted in the 1980s to produce TR-1/U-2R aircraft.

Read more at this link: http://en.wikipedia.org/wiki/Lockheed_U-2

James May From Top Gear Rides In A U-2 Spy Plane

The Tonka Report Editor’s Note: The U.S. had this technology in 1955 – 55 years ago! Can anyone imagine what has been developed since 1955 that has been deliberately hidden from the American people? Also, notice at 3:03 of the video, they nonchalantly spot an aircraft spraying a chemtrail over 4 miles below them… – SJH

Link to original article below…

https://stevenjohnhibbs.wordpress.com/2010/10/21/breathtaking-ride-on-the-lockheed-u-2-spy-plane-at-70000-feet/