Huffpo Live provides PR spinning platform for bankster scheme exposed on Keiser Report!

Stacy Summary: In response to an expose by Teri Buhl, first discussed on Keiser Report, Huffington Post’s new online tv station provided a bizarre PR spinning platform that included John Cusack of all people to whitewash a dodgy eminent domain scheme in California:

What I find it interesting about this piece is the fact that both Cusack and Vlahoplus make it sound like their plan calls for eminent domain to be used on distressed or abandoned homes and not for non-distressed performing mortgages as Teri Buhl, Max Keiser, and Felix Salmon have pointed out.

Second, Cusack and Vlahoplus gloss over the legality of such a scheme. As Buhl, Keiser and Salmon have pointed out, this eminent domain scheme if enacted could very well be ruled unconstitutional by the federal courts.

Watch the Keiser Report coverage of the eminent domain for banksters story here (from 13.00):

23 thoughts on “Huffpo Live provides PR spinning platform for bankster scheme exposed on Keiser Report!”

  1. feral

    Why don’t you contact John Cusack and explain this issue to him?

    Actors will probably be like a very large percentage of the population – financially illiterate.

    People are having to look beyond MSM to become educated, when it comes to surviving financially

    Actors also have a responsibility to get their facts straight, especially if they are seen to be ‘liberal’ leaning (I use that in the English sense rather than American)

  4. Peter Jennings

    Actors can’t wait to sell you useless and worthless stuff on the box. As long as the cheque covers it, it’s ok for them to use their name, their fame and their talent to convince you to buy something they know nothing about or even detrimental to you.

    As for the huff post, I would have thought most thinking people have got their number by now.

  5. jonkirby2012.wordpress.com

    Yeah talk about a scam Max Stacy, I just received my claim form today
    You know on the House I use to own The Title now sits behind the Fed’s doorstep
    Where bond holders are gleefully desiding which family get how much of what.
    Anyway It’s good to know that most of the 50 or so States filed against the banks this class action suit of sorts and ready for this because they fraudulently would not refinance my house in my case 3 times . They ga=ive me in dollars as a settlement
    840 us dollars. I give them clear title deed land and house. I think even for the elite
    They sure are really cheap bastards. I like what the taxi driver said if it’s suppose to be the feds mission for the economy then return the titles to their rightfull owners and relief the debt. Oh yeah socialism is only for the rich . poor bas***ds.

  6. jischinger

    I can only take so much of HuffingtonPost – the list is long…

    I read Steve Dibert piece and watched the HP conversation and it reminded me of one of those old late night infomercials.

    Now maybe Cusack is being duped – he’s built some creds doing an interview with Turley, perhaps he is being unknowingly, actors…

    Arianna who is clearly pushing our latest war criminal Obama and taking Soros money has a reputation of making sure she profits from every deal she sticks her well manicured toe in has none. Anything she stands behind is to protect her own ass-ets and wealthy class. She’s done very well making bank off this financial crisis. People forget she was a republicans for decades and if you know anything about the Greek culture. Athenians vs Spartans… I ‘ll stop there

    FT, holding WFD John Vlahoplus, worked for Zurich Financial – umm… nuff said?

    Cusack needs to find some news friends, perhaps he should try Ralph Nader, Michael Hudson , Bill Black and even good ol Phil Donahue for starters and he’d be wise to take some time to listen to Max and Terry here.

    Mixing in with the people who either helped or contributed to this Financial Crisis is stepping into the dark side.

    When given an elixir for a what ails ya it’s always a good idea to read the ingredients – if one of them says snake oil best to put the bottle down.

  7. Dustbowl Daze

    I saw Alyona hanging out on MSNBC one day and now I see she’s over at Huff Post live. Then the other day I saw Lauren Lyster on Yahoo Finance and I think she was doing something on MSNBC recently as well, wasn’t she? I guess all the lame-o media organizations want to assimilate the RT folks into the Borg before the ratings get out of hand. Which big networks are going to try to lure Max and Stacy into the den of evil? :)

  8. jischinger

    @Dustbowl any of the anchors who move from RT are looking for a career boost and money, mostly money.

    If Max and Stacy ever moved I’m confident their principles wouldn’t change – money is important to live, but if you have integrity and what you need to live comfortably just making money is one of the most boring and dullest pursuits invented by man.

    This is my impression, my imagination of Max and Stacy – if RT went out of business or if they had to give up any of their principles – no longer had complete intellectual freedom on their show – in order to keep their position; even with the threat of never working in the business again, Max would quit and either start his own network online or take up painting – Stacy would keep writing and making films exposing corruption.

    But, that’s just my impression.

  11. Steve Dibert

    I’m amazed at the number of professional journalists and finance bloggers who liked my article even the journalists who disagreed with me liked it. I am truly honored. Thank you all!

    FYI-John Cusack saw it and kind of brushed it off. The only person who went medieval on me was Cusack’s hairstylist. She didn’t like that I said he looked like he “just rolled out of bed” in the Huff Post video.

  12. kdt

    HUMMM the ones MOST vocal offended and upset by this idea (besides you three) are the TBTF banks AND wallstreet ………………the people curently receving the payment streams from the properties , a group who were BAILED OUT more than once on the CONDITION that thet write the loans down and refi the resulting principal!!! had they done that we would in all likely hood have been spaired most of this BULLSHIT econimic MESS in a similar dynamic to iceland .
    but FINE it is unconstutional FUCKIT then im falling back on the FACT that the payment streams are themselves “the product of A CRIMINAL ENTERPRISE” and as such are them selves ILLEAGLE and NO BODY should be required to service them further…………… fuck EVERY BODY!!! and those “pensions” are PONZI schemes ANY WAY screw the people that payed in to them they were as stupid as the people that took the loans!!! and no matter how stupid people were to take the liers loans in the firstplace NO BODY INTENDED TO BECOME SLAVES TO THE BANKS ………..EVER!!! and liers loans are FRAUD and the resulting payments ILEAGLE you want to do this the hard way THAT is what ultimaily WILL go down becaus eventualy even THESE vetted and proven borrowers will EVENTULY relize that in fact they are paying TOO GOD DAMN much money to discharge these loans and further that in fact they will NEVER be free of them and at THAT point they WILL quit sending in payments it is INEVETABLE!!!! GOOD GOD the loans are worth more that DOUBLE the actual value of the property held AND THAT INFLATED VALUE is the actual isue here,IMHO!

    @sherbert ,Teri B, and Mr Maxwell is it NOT? tell me wtf happens to the upsidedown “rehypothicated” dritives parimid if the liers loans get writen down in total?………………..yea thought so the TBTF go directly up in flames along with the rest of this SCAM!!!
    so what is YOUR spin here wtf is THIS isue to YOU three ? OBVIOUSLY your NOT holding an upside down mortgage!!!! so you all must be tied to the payment streams some how , as in the TBTF are PAYING you to talk talk this isue and spin it there way.

    @sherbert seriously if im off base here PLEASE explain how! and also WHY you all are ending up on the SAME side of THIS isue as the TBTF morons and there walstreet minions? becaus ALL I see is an effort to acomplish what the TBTF claimed the bailout money was intended to do atleast in part, and head off the abandonment and eventual direct SIZURE of the derelict properties through the ACTUAL and UNAVOIDABLE use of these cities “emnit domain” to demo them!!! an EXPENCIVE prosess that will further stress already stressedout budgets AND how is it that we are REQUIRED to clean up there mess using “eminit domain” but can’t use it to prevent the mess from geting BIGGER.

  13. Nak

    As Buhl, Keiser and Salmon have pointed out, this eminent domain scheme if enacted could very well be ruled unconstitutional by the federal courts.???????
    The Supreme Court already ruled, in the case of Kelo v. City of New London, citizens have no fucking property rights. Justice Sandra Day O’Connor retired over the decision.

  14. Teri Buhl

    I was just thrilled Dibert called me the Lois Lane of financial jouranlism cuz as a little girl I was always playing pretend superman with neighborhood kids in So-Cal. Now I get to try and carry out her legend in real life.

  15. stacyherbert Post author

    @Nak – in the Kelo case, it was one lower middle class couple against the big pharma giant, Pfizer; in this case, it would be the biggest pension funds in the world against one gang of private equity guys in San Francisco; he who has the most money wins at the Supreme Court; and, furthermore, in the case of Kelo vs the City of New London, the case hinged on actual physical property for which the town was going to give them fair market value in order to redevelop the area per the plans of Pfizer, which has been there for decades and is one of the biggest employers in the area (my mom used to work there, in fact); in this case in California, it is a CONTRACT this private equity group wants to seize, not the properties and transfer them from one group of investors to another

    @Teri Buhl – you are the Lois Lane of financial journalism! @WilliamBanzai7 needs to do some artwork of you!

    @Dibert – are you going to publish the correspondence?

  16. Steve Dibert

    Nak,
    What you’re not getting is and what most people don’t get is this is not about property rights. It’s a question of does the local government have the right to seize private contracts between parties. MRP wants the local municipality to seize a performing mortgage from one group of investors and give it to another. MRP does NOT want distressed housing or properties that have been already foreclosed on and are now abandoned.

  17. Steve Dibert

    @stacy – probably not. It’s was filled with too much crazy talk about how I’m defaming Cusack and half of it didn’t make any sense. It sounded like it was written by Homer Simpson. I usually will post comments from people who disagree with me as long as their arguments are on point and contain some logic.

  18. Nak

    @dibert, stacy
    I guess Eminent Domain is then the correct term for this cherry picking scheme, property rights taken by the state and given to their cronies and now private contracts taken by the state and given to their cronies.

  19. jischinger

    “In July 2012, San Bernardino became the largest city ever to choose to file for protection under Chapter 9 of the U.S. Bankruptcy code.

    San Bernardino is the poorest city of its population size in California, and the second poorest in the US next to Detroit, Michigan.”

    They always take advantage of the poorest places and most vulnerable people first. That’s how they move in on the rest of the nation to commit their dastardly deeds.

    Terry and Steve please pass this on to activities in San Bernardino http://www.dcoh.org

  20. Steve Dibert

    @jischinger – I have an office in Detroit so you don’t have to tell me how bad the city is. Matter of fact, I’m working on something now that both the City of Detroit and Wayne County aren’t going to like. Send me a private email. My email is [email protected]

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