The president makes another speech

Our president will make another speech tonight. Who will he expropriate next?More: The government is screwing over the Forgotten Man again--promoting bad behavior:

The Obama plan and Hope for Homeowners are subsidizing the banks that service the loans for losses that they often won't even take. The parties that are actually doing the loan forgiveness and should be paid, if anyone should be paid (and I don't think anyone should, because the government shouldn't be interfere at all) are the investors holding the mortgage-backed securities.

The contracts between banks and investors are usually pretty clear that it's either the original terms of the loan or foreclosure. They state that loans can only be modified for the best interest of the investor, if they even allow modification (which in the case of the Frey lawsuit vs. Countrywide, they apparently don't). The government is paying and pressuring banks to ignore their fiduciary duties and rip off investors, including pension and mutual funds with mortgage-backed securities that serve middle-class savers

Consider that investors aren't generally plutocrats, but you and me, via our pension funds, 401Ks and mutual funds, and the need for a Tea Party for the forgotten men seems even clearer.

Chicago Tea Party Friday at 11, Daley Plaza. Details and RSVP here. Nationwide Chicago Tea Party info here.

P.S. Is he going to lecture us again tonight? 'We can't simply spend as we please' Is the White House a Glass House?