Olbermann Rescinds Charity Offer for Cowardly Hannity

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"Mancow Muller had the guts to put his mouth where his mouth was, and the guts to admit he was dead wrong."

Faiz Shakir
May 23, 2009 - Think Progress

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Last month on his Fox News show, torture enthusiast Sean Hannity claimed he would agree to be waterboarded "for charity…for the troops's families." MSNBC's Keith Olbermann immediately took up Hannity's pledge, offering $1,000 to charity for every second Hannity withstood waterboarding.

Over the next 30 days, Hannity went completely silent on his pledge, opting not to go anywhere near the subject of waterboarding again. Olbermann repeatedly reminded Hannity of his pledge to donate to charity in his name, but to no avail.

Last night on Countdown, Olbermann announced that he was rescinding the offer to Hannity, and instead giving $10,000 to charity following radio host Erich "Mancow" Muller's waterboarding attempt. Olbermann promised to donate to the charity Veterans of Valor, founded by Sgt. Klay South, who administered the waterboarding to Muller. Olbermann revealed that Mancow's publicist had contacted Olbermann's show yesterday to see whether Olbermann would make a similar offer to Mancow as he did for Hannity:

OLBERMANN: Mancow Muller had the guts to put his mouth where his mouth was, and the guts to admit he was dead wrong. As you saw, he not only said it is torture, but that he had nearly drowned as a boy, and it is drowning, and that he would have admitted to anything to make it stop.

So the offer to the coward Hannity — a thousand dollars a second he lasted on the waterboard — is withdrawn.

And to Mr. Muller, whose station's publicity person contacted us yesterday saying she'd heard I'd offered ten thousand dollars to anybody who would do what he did –

You got it. Ten thousand dollars to the military-families charity of the man who did the waterboarding, Veterans Of Valor. [...]

As to Hannity, you are now unnecessary.

Flag this messageBush's Shocking Biblical Prophecy Emerges: God Wants to "Erase" Mid-East Enemies "Before a New Age Begins"

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Bush explained to French Pres. Chirac that the Biblical creatures Gog and Magog were at work in the Mid-East and must be defeated.

Clive Anderson
May 25, 2009 - CounterPunch

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The revelation this month in GQ Magazine that Donald Rumsfeld as Defense Secretary embellished top-secret wartime memos with quotations from the Bible prompts a question. Why did he believe he could influence President Bush by that means?

The answer may lie in an alarming story about George Bush's Christian millenarian beliefs that has yet to come to light.

In 2003 while lobbying leaders to put together the Coalition of the Willing, President Bush spoke to France's President Jacques Chirac. Bush wove a story about how the Biblical creatures Gog and Magog were at work in the Middle East and how they must be defeated.

In Genesis and Ezekiel Gog and Magog are forces of the Apocalypse who are prophesied to come out of the north and destroy Israel unless stopped. The Book of Revelation took up the Old Testament prophesy:

"And when the thousand years are expired, Satan shall be loosed out of his prison, And shall go out to deceive the nations which are in the four quarters of the earth, Gog and Magog, to gather them together to battle and fire came down from God out of heaven, and devoured them."

Bush believed the time had now come for that battle, telling Chirac:

"This confrontation is willed by God, who wants to use this conflict to erase his people's enemies before a New Age begins".

The story of the conversation emerged only because the Elyse Palace, baffled by Bush's words, sought advice from Thomas Romer, a professor of theology at the University of Lausanne. Four years later, Romer gave an account in the September 2007 issue of the university's review, Allez savoir. The article apparently went unnoticed, although it was referred to in a French newspaper.

The story has now been confirmed by Chirac himself in a new book, published in France in March, by journalist Jean Claude Maurice. Chirac is said to have been stupefied and disturbed by Bush's invocation of Biblical prophesy to justify the war in Iraq and "wondered how someone could be so superficial and fanatical in their beliefs".

In the same year he spoke to Chirac, Bush had reportedly said to the Palestinian foreign minister that he was on "a mission from God" in launching the invasions of Iraq and Afghanistan and was receiving commands from the Lord.

There can be little doubt now that President Bush's reason for launching the war in Iraq was, for him, fundamentally religious. He was driven by his belief that the attack on Saddam's Iraq was the fulfilment of a Biblical prophesy in which he had been chosen to serve as the instrument of the Lord.

Many thousands of Americans and Iraqis have died in the campaign to defeat Gog and Magog. That the US President saw himself as the vehicle of God whose duty was to prevent the Apocalypse can only inflame suspicions across the Middle East that the United States is on a crusade against Islam.

There is a curious coda to this story. While a senior at Yale University George W. Bush was a member of the exclusive and secretive Skull & Bones society. His father, George H.W. Bush had also been a "Bonesman", as indeed had his father. Skull & Bones' initiates are assigned or take on nicknames. And what was George Bush Senior's nickname? "Magog".

Job Losses Push Safer Mortgages to Foreclosure

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Peter S. Goodman and Jack Healy
May 24, 2009 - The New York Times

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As job losses rise, growing numbers of American homeowners with once solid credit are falling behind on their mortgages, amplifying a wave of foreclosures.

In the latest phase of the nation's real estate disaster, the locus of trouble has shifted from subprime loans — those extended to home buyers with troubled credit — to the far more numerous prime loans issued to those with decent financial histories.

With many economists anticipating that the unemployment rate will rise into the double digits from its current 8.9 percent, foreclosures are expected to accelerate. That could exacerbate bank losses, adding pressure to the financial system and the broader economy.

"We're about to have a big problem," said Morris A. Davis, a real estate expert at the University of Wisconsin. "Foreclosures were bad last year? It's going to get worse."

Economists refer to the current surge of foreclosures as the third wave, distinct from the initial spike when speculators gave up property because of plunging real estate prices, and the secondary shock, when borrowers' introductory interest rates expired and were reset higher.

"We're right in the middle of this third wave, and it's intensifying," said Mark Zandi, chief economist at Moody's Economy.com. "That loss of jobs and loss of overtime hours and being forced from a full-time to part-time job is resulting in defaults. They're coast to coast."

Those sliding into foreclosure today are more likely to be modest borrowers whose loans fit their income than the consumers of exotically lenient mortgages that formerly typified the crisis.

Economy.com expects that 60 percent of the mortgage defaults this year will be set off primarily by unemployment, up from 29 percent last year.

Robert and Kay Richards live in the center of this trend. In 2006, they took a 30-year, fixed-rate mortgage — a prime loan — borrowing $172,000 to buy a prefabricated house. They erected the building on land they owned in the northern Minnesota town of Babbitt, clearing the terrain of pine trees with their own hands.

Mr. Richards worked as a truck driver, hauling timber from a nearby mill. His wife oversaw the books. Together, they brought in about $70,000 a year — enough to make their monthly mortgage payments of $1,300 while raising their two boys, now 11 and 16.

But their truck driving business collapsed last year when the mill closed. Mr. Richards has since worked occasional stints for local trucking companies. His wife has failed to find clerical work.

"Every month that goes by, you get a little further behind," Mr. Richards said.

Last June, they missed their first payment, and they have since slipped $10,000 into arrears. They are trying to persuade their bank to cut their payments ahead of a foreclosure sale.

From November to February, the number of prime mortgages that were delinquent at least 90 days, were in foreclosure or had deteriorated to the point that the lender took possession of the home increased more than 473,000, exceeding 1.5 million, according to a New York Times analysis of data provided by First American CoreLogic, a real estate research group. Those loans totaled more than $224 billion.

During the same period, subprime mortgages in those three categories increased by fewer than 14,000, reaching 1.65 million. The number of similarly troubled Alt-A loans — those given to people with slightly tainted credit — rose 159,000, to 836,000.

Over all, more than four million loans worth $717 billion were in the three distressed categories in February, a jump of more than 60 percent in dollar terms compared with a year earlier.

Under a program announced in February by the Obama administration, the government is to spend $75 billion on incentives for mortgage servicing companies that reduce payments for troubled homeowners. The Treasury Department says the program will spare as many as four million homeowners from foreclosure.

But three months after the program was announced, a Treasury spokeswoman, Jenni Engebretsen, estimated the number of loans that have been modified at "more than 10,000 but fewer than 55,000."

In the first two months of the year alone, another 313,000 mortgages landed in foreclosure or became delinquent at least 90 days, according to First American CoreLogic.

"I don't think there's any chance of government measures making more than a small dent," said Alan Ruskin, chief international strategist at RBS Greenwich Capital.

Last year, foreclosures expanded sharply as the economy shed an average of 256,000 jobs each month. Since then, the job market has deteriorated further, with an average of 665,000 jobs vanishing each month.

Each foreclosure costs lenders $50,000, according to data cited in a 2006 study by the Federal Reserve Bank of Chicago, so an additional two million foreclosures could mean $100 billion in lender losses.

The government's recent stress tests of banks concluded that the nation's 19 largest could be forced to write off as much as a fresh $600 billion by the end of 2010, bringing their total losses to $1 trillion. The Federal Reserve concluded that these banks needed to raise another $75 billion.

Many economists pronounce that assessment reasonable, while cautioning that it could become inadequate if foreclosures continue to accelerate.

"The margin for error is not that big," said Brian Bethune, chief United States financial economist for HIS Global Insight. "It's kind of like, 'Let's keep our fingers crossed that we've seen the worst.' "

Among prime borrowers, foreclosure rates have been growing fastest in states with particularly high unemployment. In California, for example, the unemployment rate rose to 11.2 percent from 6.4 percent for the year that ended in March, while the foreclosure rate for prime mortgages nearly tripled, reaching 1.81 percent.

Even states seemingly removed from the real estate bubble are seeing foreclosures accelerate as the recession grinds on.

In Minnesota, three of every five people seeking foreclosure counseling now have a prime loan, according to the nonprofit Minnesota Home Ownership Center.

In Woodbury, Minn., Rick and Christine Sellman are struggling to persuade their bank to reduce their $2,200 monthly mortgage on their five-bedroom home.

Mr. Sellman, a construction worker, found some work putting in asphalt driveways last summer, but he is now receiving unemployment. Ms. Sellman's scrapbooking businesses shut down last summer. Since then, they have slipped $19,000 behind on their mortgage.

"We were always up on our house payments," Ms. Sellman said. "You work so hard to keep what you have, and because of circumstances beyond our control now, there's nothing we can do about it."