Obama is using pressure tactics to make the rebel attorney generals come down from their stand and agree to the settlement deal with the banks. The recalcitrant attorney generals do not want a $20 billion settlement but a $200 billion one. But aside from the amount the people have a right to know what led to the foreclosure crisis.

In the last week, lenders from different courts of the nation which are overcrowded with foreclosure cases gathered at a discussion session where they put up matters of bank honesty and attorney civility in foreclosure issues and estimated nearly 350,000 pending foreclosure cases in Florida.

Voters worried and resigned to foreclosure woes have little time to think about politics. None of the politicians have come up with any plausible solution; it is doubtful if they will. Obama has launched a new plan for underwater homeowners that have relaxed eligibility criteria but will it too meet with failure?

There was mixed reaction from the onlookers viewing the protest demonstrators participating in Occupy Wall Street. One felt that their demands were justified but the anger should be directed against the legislators and not the banks.New York’s Mayor said they could stay on so long as they abided by the law.

All eyes are focused on Nevada in the next presidential elections. The dominating issue is miserable economic condition of the state. It is doubtful if the Democrats will be able to repeat their success story of 2008. Meanwhile the Republicans are busy about choosing their candidate.

The biggest owners of shadow inventory are the government owned entities of Fannie Mae, Freddie Mac and FHA. There are indications that these agencies will be disposing of their units fast. But other financial entities are sitting on their units without taking action afraid of flooding the market.

In Chicago the neutering and spaying programme has brought down the number of stray animals but the numbers being left behind in shelters by owners unable to care for them have been increasing. Simultaneously the pet product industry has been growing year over year.

For half a century from the 1960s the Blacks benefited the most and now with the deficit running for consecutive years they will suffer the most as regards joblessness, pay cuts, cuts in benefits and loss of property. Already Blacks are raising their voices against Obama.