Police remove Eric Cantor protesters from a hotel ballroom they rented

If you think it's extreme that Paul Ryan is now charging constituents $15 admission to his town hall events, now it appears that constituents can't even pay to be in a room next to a public event hosted by Eric Cantor.

Here's the story. This August, Eric Cantor's congressional office did not hold any town hall events for his constituents. Instead, yesterday his campaign hosted a "Cantor Advisory Council Meeting," which is a quarterly event designed primarily for his supporters. Cantor describes the advisory councils as being "open to the public," but this one was only advertised on a local tea party website. Additionally, media are barred from attending the events.

Sensing an opportunity to confront Eric Cantor over the lack of congressional action on jobs, over 200 local activists led by Progress Virginia and Virginia Organizing rented the ballroom above the one in which the advisory council was being held. However, about an hour before the meeting was scheduled to begin, hotel management appeared with a large police presence and told the activists to leave.

"Hotel management told us we had to leave immediately," saod Anna Scholl of Progress Virginia. Scholl added that about a dozen sheriff's deputies accompanied hotel management to make the demand.

When the protesters asked why they had to leave a ballroom which they had rented, hotel management at first told the protesters that someone in their group had been smoking indoors. "That was not true," according to Scholl. She noted that "someone in our group is pregnant."

When asked for another reason, management then told the protesters that the hotel was not comfortable with competing events. This is even though the activists had rented the ballroom a few days beforehand. Additionally, Scholl pointed out that "Cantor had the only other event" in the hotel that night.

A phone call was placed to the hotel to discuss the matter, but they declined to answer any questions.

The activists went along peacefully and ended up holding a rally in the parking lot of a Toys "R" Us across the street from the hotel. Blue Virginia has a video:

When asked about the protest later that evening, Cantor told local news that they were an "unproductive distraction." Here's a video of some of Cantor's interview:

There is no evidence that Cantor's campaign was involved in the hotel management's last-minute decision to remove the protesters from the ballroom. However, the shifting rationale offered by hotel management, along with the timing of their decision, is curious.


Source: http://feeds.dailykos.com/~r/dailykos/index/~3/ri5WFRu-3rw/-Police-remove-Eric-Cantor-protesters-from-a-hotel-ballroom-they-rented

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U.S. Can Rediscover Its Awesome Self-Belief

Richard Littlejohn, Daily Mail
By Richard Littlejohn Last updated at 9:29 AM on 3rd September 2011Defiance: Firefighters raise the Stars and Stripes in the ruins of the Twin TowersThat’s the trouble with you Americans. You expect nothing bad to happen, while the rest of the world expects only bad to happen.’Out of the mouths of babes. Or in this case Svetlana, the one-legged Russian babe in the hit HBO series The Sopranos.Her post 9/11 pearl of wisdom leaves mob boss Tony Soprano baffled. The quizzical expression on his face is priceless. He’s as utterly bewildered as his fellow Americans...

Source: http://www.realclearpolitics.com/2011/09/03/us_can_rediscover_its_awesome_self-belief_262819.html

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NYT: U.S. will sue big banks over misleading mortgages

FHFA Logo
(Wikimedia Commons)

This looks very promising:
The federal agency that oversees the mortgage giants Fannie Mae and Freddie Mac is set to file suits against more than a dozen big banks, accusing them of misrepresenting the quality of mortgage securities they assembled and sold at the height of the housing bubble, and seeking billions of dollars in compensation.

Among those expected to be sued by the Federal Housing Finance Agency are Bank of America, JPMorgan Chase, Goldman Sachs and Deutsche Bank.

The suits will argue the banks, which assembled the mortgages and marketed them as securities to investors, failed to perform the due diligence required under securities law and missed evidence that borrowers? incomes were inflated or falsified. When many borrowers were unable to pay their mortgages, the securities backed by the mortgages quickly lost value.

A beautifully concise summary. The banks of course blame the larger economic downturn rather than their own complicity in causing the larger economic downturn.

Investors fear that if banks are forced to pay out billions of dollars for mortgages that later defaulted, it could sap earnings for years and contribute to further losses across the financial services industry, which has only recently regained its footing.

Sure. Holding banks accountable for their crimes could hurt their bottom lines. And sending thieves to prison could hurt their abilities to steal more.

The suits are being filed now because regulators are concerned that it will be much harder to make claims after a three-year statue of limitations expires on Wednesday, the third anniversary of the federal takeover of Fannie Mae and Freddie Mac.

Good move. Good timing.


Source: http://feeds.dailykos.com/~r/dailykos/index/~3/nGGN0zsC2Tk/-NYT:-US-will-sue-big-banks-over-misleading-mortgages

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Suddenly, Republicans stop taking credit for jobs reports

Steve Benen rightly mocks the GOP's selective amnesia on jobs report data. Earlier this year they were taking credit for job growth. For example:

Eric Cantor Tweet
Indeed, job growth wasn't bad in the first four months of 2011, averaging about 178,500 jobs per month.

But that was before any of the GOP's economic policies had taken effect. Over the last four months, we've seen the impact of April's budget deal compounded by a summer of hostage-taking over the debt ceiling, culminating in a deal that in their own words gave them 98 percent of what they wanted.

And ever since the GOP started getting its way, job growth has declined sharply, averaging just 39,500 jobs over the last four months, a drop of 139,000 jobs per month from the first four months of the year.

So whatever they're doing isn't working. No wonder they've stopped taking credit.


Source: http://feeds.dailykos.com/~r/dailykos/index/~3/2EKrXTWdUtE/-Suddenly,-Republicans-stop-taking-credit-for-jobs-reports

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