Nordwave Florida

Nearly one in three borrowers who applied for a mortgage last year was denied as lenders kept their standards tight as the mortgage crisis accelerated, the government reported Wednesday.

In its annual look at mortgage practices among lending institutions, Federal Reserve said the denial rate for all home loans was about 32 percent last year — about the same as in 2007, but up from 29 percent in 2006. The denial rates for blacks and Hispanics were more than twice as high as the rate for white borrowers.

The report highlights massive changes in the lending industry after the housing market bust. Overall loan applications were down by a third from a year earlier, and were half the level in 2006.

Loans backed by the Federal Housing Administration soared to 21 percent of all loans made last year from less than 5 percent in both 2005 and 2006.

For black borrowers, more than half of all loans were FHA-insured, more than triple a year earlier. For Hispanics, that number shot up to 45 percent, more than four times as high as in 2007. That was troubling news for consumer advocates.

“I’m hard-pressed to believe that many of those borrowers couldn’t have been served by the private sector,” said John Taylor, chief executive of the National Community Reinvestment Coalition, a consumer group in Washington. “It implies that the industry has shut down in serving this population.”

http://news.yahoo.com/s/ap/20090930/ap_on_bi_ge/us_lending_discrimination

The U.S. and five other world powers go to the table with Iran on Thursday to demand a freeze of its nuclear activities, and a senior U.S. official said Washington may seek rare face-to-face talks with Iranian diplomats.

Even as they prepared for Thursday’s talks, the U.S. and its allies were contemplating new and tighter sanctions on Tehran, in a clear signal of expectations that the negotiations may again end in failure.

U.S. Secretary of State Hillary Rodham Clinton suggested all six — the five permanent U.N. Security Council members and Germany — were of one mind on the need for Iran to meet international concerns on its refusal to stop uranium enrichment and heed other U.N. Security Council demands.

“We support what the international community has said with a unified voice,” she told reporters at the United Nations.

Iran’s choice, she said, is to agree to measures that “would guarantee that what they’re doing is solely for peaceful purposes — and the alternative track, which is greater isolation and international pressure.”

With the stakes raised by Tehran’s revelation last week of a secret uranium enrichment site, a move by the U.S. to break precedent and meet directly with Iran would reflect the Obama administration’s determination to get results at Thursday’s gathering.

Briefing reporters in Geneva, a senior U.S. official raised the possibility of a meeting between the Americans, represented by William Burns, the under secretary of state for political affairs, and Iran’s chief negotiator Saeed Jalili. He spoke on condition of anonymity because of the private nature of the talks.

http://news.yahoo.com/s/ap/eu_iran_nuclear_talks;_ylt=Aov9Eub8XgPuMdNpHyftXzis0NUE;_ylu=X3oDMTM3bTFuaGgxBGFzc2V0A2FwLzIwMDkwOTMwL2V1X2lyYW5fbnVjbGVhcl90YWxrcwRjcG9zAzYEcG9zAzMEcHQDaG9tZV9jb2tlBHNlYwN5bl9oZWFkbGluZV9saXN0BHNsawN3ZXN0Z29lc3RvaXI-

The Fed upgraded its view of the economy Wednesday, declaring: “Economic activity has picked up following its severe downturn.”

But forget all the talk about recovery, V-shaped or otherwise. The economy is actually worse today vs. during the depths of the recession, according to Peter Schiff, president of Euro Pacific Capital and author of Crash Proof 2.0.

“Ben Bernanke is keeping his record of perfection intact of never getting anything right. Once again he’s gotten it wrong,” Schiff says. “If the Fed really thought the economy was sound, why does he have it on life support? If he pulls the plug, our sick economy is going to die.”

Although the Fed never said the economy is “sound”, Schiff is referring to the FOMC’s renewed pledge that “economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period.”

Nothing that’s occurred in the past six months has changed Schiff’s view that America’s economy is headed for disaster. In fact, he’s even more convinced a true “currency crisis” awaits, and that China will soon stop enabling our reckless borrowing, the basis our “phony” economy. The coming collapse of the dollar and bursting of the Treasury bubble will have devastating consequences for ordinary Americans, and any investors based in dollars, he says.

The economy today is “worse [because] we are much more deeply indebted than in March,” Schiff declares. “We’ve dug ourselves a deeper hole.”

http://finance.yahoo.com/tech-ticker/article/342659/Bernanke-Is-Wrong!-The-Economy-Is-Getting-Worse-Not-Better-Schiff-Says?tickers=^DJI,^GSPC,SPY,DIA,TBT,UDN,GLD

General Motors Co. will shut down Saturn now that a deal with former race car driver and auto dealer magnate Roger Penske has collapsed, marking the end of a brand that was supposed to revolutionize the way small cars were built and sold in America.

The deal with Penske was supposed to be finalized Wednesday. But the unexpected end came when his company, Penske Automotive Group Inc., was unable to find a manufacturer to supply vehicles for the brand’s dealerships. GM had agreed to keep building Saturn models like the Aura, Outlook and Vue through at least 2011, but after that, Saturn would have to come up with its own products.

Penske’s tentative deal buy Saturn was announced in early June.

“This is very disappointing news and comes after months of hard work by hundreds of dedicated employees and Saturn retailers who tried to make the new Saturn a reality,” GM CEO Fritz Henderson said. He said Saturn and its dealership network will be phased out.

Although the sales price was never disclosed, Penske was to get Saturn’s roughly 350 dealerships and promised to retain 13,000 employees.

Penske spokesman Anthony Pordon said the company had reached a tentative deal with another automaker to make cars for Saturn, but that company’s board of directors rejected the agreement. He would not identify the other automaker.

http://finance.yahoo.com/news/GM-to-shut-down-Saturn-after-apf-433359878.html?x=0&sec=topStories&pos=main&asset=&ccode=

OKLAHOMA CITY – The FBI says it did not edit videotapes of the aftermath of the 1995 bombing of the Oklahoma City federal building before turning them over to an attorney who is conducting an unofficial inquiry into the bombing.

The FBI turned over more than two dozen tapes taken from security cameras on buildings and other locations around the federal building to Salt Lake City attorney Jesse Trentadue, who obtained them through the federal Freedom of Information Act. Trentadue said the tapes are blank at various times in the minutes before the blast.

“They have been edited,” Trentadue said Wednesday.

The soundless recordings show people rushing from nearby buildings immediately after a 4,000 pound fertilizer-and-fuel-oil bomb detonated in front of the Alfred P. Murrah Federal Building on April 19, 1995, killing 168 people, including 19 children, and injuring hundreds more.

Some show people fleeing through corridors cluttered with debris. None shows the actual explosion that ripped through the federal building.

Trentadue said the absence of footage before the blast indicates something was on the tapes that the FBI did not want to make public.

“They don’t do anything by accident,” he said.

http://news.yahoo.com/s/ap/20090930/ap_on_re_us/us_bombing_video

Al-Qaida leader Osama bin Laden warned the American people over their government’s close ties with Israel in an apparently new audio tape posted on an Islamist Web site on Monday.

“The time has come for you to liberate yourselves from fear and the ideological terrorism of neo-conservatives and the Israeli lobby,” Bin Laden’s latest tape said.

“The reason for our dispute with you is your support for your ally Israel, occupying our land in Palestine.”

The message, entitled “A statement to the American people”, was around 11 minutes long and was posted a few days after the eighth anniversary of the September 11, 2001 attacks.

Reuters was not immediately able to verify its authenticity but the Web site often is used by supporters of al-Qaida.

In the tape, the Al-Qaida leader said there had been no real change in American policy because U.S. President Barack Obama had retained people like U.S. Defense Secretary Robert Gates from the administration of former President George W. Bush.

“If you think about your situation well, you will know that the White House is occupied by pressure groups,” Bin Laden said.

“Rather than fighting to liberate Iraq — as Bush claimed — it (the White House) should have been liberated.”

More:
http://www.haaretz.com/hasen/spages/1114445.html

Executive Summary – The USA state of Montana has signed into power a revolutionary gun law. I mean REVOLUTIONARY. The State of Montana has defied the federal government and their gun laws. This will prompt a showdown between the federal government and the State of Montana. The federal government fears citizens owning guns. They try to curtail what types of guns they can own. The gun control laws all have one common goal – confiscation of privately owned firearms.

Montana has gone beyond drawing a line in the sand. They have challenged the Federal Government. The fed now either takes them on and risks them saying the federal agents have no right to violate their state gun laws and arrest the federal agents that try to enforce the federal firearms acts. This will be a world-class event to watch. Montana could go to voting for secession from the union, which is really throwing the gauntlet in Obamas face. If the federal government does nothing they lose face. Gotta love it.

Important Points – If guns and ammunition are manufactured inside the State of Montana for sale and use inside that state then the federal firearms laws have no applicability since the federal government only has the power to control commerce across state lines. Montana has the law on their side. Since when did the USA start following their own laws especially the constitution of the USA, the very document that empowers the USA.

Silencers made in Montana and sold in Montana would be fully legal and not registered. As a note silencers were first used before the 007 movies as a device to enable one to hunt without disturbing neighbors and scaring game. They were also useful as devices to control noise when practicing so as to not disturb the neighbors.

Silencers work best with a bolt-action rifle. There is a long barrel and the chamber is closed tight so as to direct all the gases though the silencer at the tip of the barrel. Semi-auto pistols and revolvers do not really muffle the sound very well except on the silver screen. The revolvers bleed gas out with the sound all over the place. The semi-auto pistols bleed the gases out when the slide recoils back.

Silencers are maybe nice for snipers picking off enemy soldiers even though they reduce velocity but not very practical for hit men shooting pistols in crowded places. Silencers were useful tools for gun enthusiasts and hunters.

There would be no firearm registration, serial numbers, criminal records check, waiting periods or paperwork required. So in a short period of time there would be millions and millions of unregistered untraceable guns in Montana. Way to go Montana.

Discussion – Let us see what Obama does. If he hits Montana hard they will probably vote to secede from the USA. The governor of Texas has already been refusing Federal money because he does not want to agree to the conditions that go with it and he has been saying secession is a right they have as sort of a threat. Things are no longer the same with the USA. Do not be deceived by Obama acting as if all is the same, it is not.

http://www.panamalaw.org/montana_governor_signs_new_gun_law.html

Henrik Holappa Arrested Part 2 on eNationalist Radio

My guest today was Elena Haskins of elanahaskins.com and wakeupordie.com to discuss respect for women, Henrik Holappa’s heroic stance in Finland and America against gang rape, and the outrage of this political refugee & arrest for his opinions in the land of the free and home of the brave. We also discussed William the Conqueror and the Normans, white-hyper-individualism, Dr. William Pierce and publisher Willis Carto.

http://www.enationalist.com/forum/showthread.php?t=23298