Occupy LA has enjoyed a special rapport with the police, city officials and the city council. They went to Councilman Richard Alarcon before they started their solidarity demonstration at City Hall. Alarcon was so inspired by his constituent's protest, he wrote the following three-page resolution. It's expected to pass sometime today:

WHEREAS, Angelenos, like citizens across the United States, are reeling from a continuing economic crisis that threatens our fiscal stability and our quality of life; and

WHEREAS, "Occupy Los Angeles" is fueled by Angelenos from all walks of life who have come together in a demonstration of solidarity with and support for the national movement started by the "Occupy Wall Street" protests that began 17 days ago; and

WHEREAS, on Saturday, October 1S\2011, "Occupy Los Angeles" started a peaceful protest on the Lawn of Los Angeles City Hall that continues through this day, and "Occupy Los Angeles" demonstrators are working to secure permits to continue the protest; and

WHEREAS, over 70 additional "Occupy" protests have taken root across the Country, from large demonstrations in Boston and San Francisco, to dozens of smaller ones in between, with many more being planned every hour, including a large-scale "Occupy Colleges" movement set to begin at 12 noon today on college campuses across the United States; and

WHEREAS, the protest in Liberty Plaza called "Occupy Wall Street" released its first official Resolution on September so", 2011, available at http://occupywallst.org/forum/first-official-release-from-occupy- wall-street/, providing an overview of the goals and unifying principles of the "Occupy" movement; and
WHEREAS, the "Occupy" demonstrations are a rapidly growing movement with the shared goal of urging U.S. citizens to peaceably assemble and occupy public space in order to create a shared dialogue by which to address the problems and generate solutions for economically distressed Americans; and

WHEREAS, the causes and consequences of the economic crisis are eroding the very social contract upon which the Constitution that the United States of America was founded; namely, the ability of Americans to come together and form a more perfect union, establish justice, insure domestic tranquility, provide for the common defense of, promote the general welfare of, and secure the blessings of liberty for all, allowing every American to strive for and share in the prosperity of our nation through
cooperation and hard work; and

WHEREAS, today corporations hold undue influence and power in our country, and the key to this power is the corporate claim to "personhood," an opinion both U.S. Supreme COUl1Justices Hugo Black and William O. Douglas declared should be reversed; and

influencing the selection of candidates, the outcome of elections, and policy decisions -- threatening the voices of the people; and

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(Hi, dday here from Hullabaloo and Calitics and my own site D-Day. Thanks to John for having me over for the week to fill in for Dave Neiwert.)

I don't think I'm being hyperbolic by saying that the average subprime mortgage broker should probably be in prison by now. They took loans that their customers had no possibility of paying back, often by forcing them into exotic arrangements where their payments would shoot up by double after a reset. They got bonuses for putting people into a higher interest rate than what the borrowers could qualify for. Now lots of those loans have gone sour, but the broker's company has already passed on that risk in the form of mortgage-backed securities. Indeed, these same lenders who preyed upon homeowners by getting them into residences they couldn't afford are now ripping them off again by setting up loan modification companies.

Yet the dangers assailing Mr. Soussana’s clients have yielded fresh business for him: Late last year, he and his team — ensconced in the same office where they used to broker mortgages — began working for a loan modification company. For fees reaching $3,495, with most of the money collected upfront, they promised to negotiate with lenders to lower payments on the now-delinquent mortgages they and their counterparts had sprinkled liberally across Southern California.

“We just changed the script and changed the product we were selling,” said Mr. Soussana, who ran the Los Angeles sales office of Federal Loan Modification Law Center. The new script: You got a raw deal, and “Now, we’re able to help you out because we understand your lender.” [...]

FedMod is but one example of how many of the same people who dispensed risky mortgages during the real estate bubble have reconstituted themselves into a new industry focused on selling loan modifications.

Despite making promises of relief to homeowners desperate to keep their homes, FedMod and other profit making loan modification firms often fail to deliver, according to a New York Times investigation based on interviews with scores of former employees and customers, more than 650 complaints filed with the Better Business Bureau, and documents filed by the Federal Trade Commission in a lawsuit against the company. The suit, filed in California federal court, asserts that FedMod frequently exaggerated its rates of success, advised clients to stop making their mortgage payments, did little or nothing to modify loans and failed to promptly refund fees. The suit seeks an end to FedMod’s practices, and compensation for customers.

“Our job was to get the money in and then we’re done,” said Paul Pejman, a former sales agent who worked out of FedMod’s two-story headquarters in Irvine, Calif. He recounted his experience, he said, because “I really feel bad.”

Before state regulators and the Feds figured out this was going on, hundreds of loan modification companies took probably billions from distressed homeowners and provided virtually nothing in return. They saw opportunity in crisis - and they also CREATED much of the crisis by selling the homes to people who couldn't afford them in the first place.

Special place in hell reserved for them...