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NRSC admits responsiblity for `hicky' language

That National Republican Senatorial Committee is copping to the casting call for "hicky blue collar" workers for an NRSC ad in West Virginia, admitting that its vendor was responsible for the language and terminating its relationship with that vendor.

The NRSC sends over a statement:

"This morning, the NRSC learned that our vendor Jamestown Associates was responsible for the offensive language surrounding our independent expenditure ad in West Virginia. When originally confronted last week, they flatly denied having anything to do with the unacceptable language and we took them at their word . Upon learning these facts this morning, the NRSC immediately fired Jamestown Associates."

The NRSC had previously denied up and down that the committee or its vendor was responsible for the language, instead blaming it on a casting agent that had been contacted by the NRSC's vendor. And for my part, I wrote that until further evidence emerged to the contrary, it was unfair to pin this on them. But the NRSC is now admitting its previous statements were wrong:

"Because we did not know the truth, we have made incorrect statements over the last eight days, and we regret doing so. The NRSC unequivocally denounces the offensive language that Jamestown Associates used in producing this ad. We apologize to any West Virginia voter who may have been offended by this firm's actions, and we extend our apologies to Kathy Wickline and all those who were misled as a result of Jamestown Associates' actions. The NRSC will have no further dealings, now or ever, with Jamestown Associates, but they were our vendor and we take responsibility for this unfortunate matter."

The NRSC's admission came after Politico reported this morning that the person who the NRSC blamed was denying any involvement in use of the "hicky" language -- and had supplied an email proving it.

Mystery solved.

UPDATE, 12:14 p.m.: The Kathy Wickline referenced in the NRSC statement is the person who was originally (and wrongly) blamed for the language.

By Greg Sargent  | October 14, 2010; 11:51 AM ET
Categories:  2010 elections, Senate Republicans  
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Comments

An independent expenditure is an independent expenditure


Manchin should not be trying to blame Raese personally.


IN fact, Manchin is talking down to West Virginians by implying that they don't understand independent expenditures - and Manchin is trying to FOOL the voters by not making that distinction clear.


.

Posted by: SaveTheRainforest | October 14, 2010 11:57 AM | Report abuse

Financial Crisis Issues

SSUES

1) WHY is Obama being "soft" on the banks on the issue of potentially fraudulent documents being presented in Courts ??

If you or I did that, we would be in jail


2) IF the Statute of Frauds is involved, and signatures are required to transfer mortgages - Obama can't just WAIVE that - it is a matter for the Courts of the 50 States

3) Obama has been SAYING he wants modifications - however, Obama is NOT asking the banks for modifications in this situation -

THAT is precisely what the lawyers of the homeowners is looking for - some leverage on the banks in order to negotiate modifications.

SO - if Obama is attempting to move everything forward quickly, Obama IS WORKING AGAINST HIS OWN POLICY OF GETTING THE BANKS TO ENTER INTO MODIFICATIONS.

Posted by: SaveTheRainforest | October 14, 2010 12:03 PM | Report abuse

Not again. I haven't seen this much obsession over a Hicky since I last attended a showing of The Ice Man Cometh.

Posted by: Liam-still | October 14, 2010 12:06 PM | Report abuse

Financial Crisis Issues

1) WHY is Obama being "soft" on the banks on the issue of potentially fraudulent documents being presented in Courts ??

If you or I did that, we would be in jail


2) IF the Statute of Frauds is involved, and signatures are required to transfer mortgages - Obama can't just WAIVE that - it is a matter for the Courts of the 50 States

3) Obama has been SAYING he wants modifications - however, Obama is NOT asking the banks for modifications in this situation -

THAT is precisely what the lawyers of the homeowners is looking for - some leverage on the banks in order to negotiate modifications.

SO - if Obama is attempting to move everything forward quickly, Obama IS WORKING AGAINST HIS OWN POLICY OF GETTING THE BANKS TO ENTER INTO MODIFICATIONS.

Posted by: SaveTheRainforest | October 14, 2010 12:07 PM | Report abuse

HA!!!!!!!!!!

Exactly!!!!!

OT:

This is beyond outrageous:

* Bankers Ignored Signs of Trouble on Foreclosures *

At JPMorgan Chase & Company, they were derided as “Burger King kids” — walk-in hires who were so inexperienced they barely knew what a mortgage was.

At Citigroup and GMAC, dotting the i’s and crossing the t’s on home foreclosures was outsourced to frazzled workers who sometimes tossed the paperwork into the garbage.

[...]

“We waited and waited and waited for wide-scale loan modifications,” said Sheila C. Bair, the chairwoman of the Federal Deposit Insurance Corporation, one of the first government officials to call on the industry to take action. “They never owned up to all the problems leading to the mortgage crisis. They have always downplayed it.”

http://www.nytimes.com/2010/10/14/business/14mortgage.html

Get pissed off. This needs to be prosecuted to the fullest extent of the law.

Please contact your congresscritters and governors.

Posted by: Ethan2010 | October 14, 2010 12:07 PM | Report abuse

O/T:

STRF:

I see you are concerned about foreclosuregate.

Tell me,


Do YOU see the Chamber of Congress INSISTING on INVESTIGATIONS like YOU are?


And, they are nOT investigating, then WHY are they NOT investigating?


WHY Not, SAVE THE RaiNfoREst, WHY NoT??


Or do YOU wear BLINDERS on your NOse so that you think that the STENCH only comes in the LEFT noSTRIL???????


Posted by: Papagnello | October 14, 2010 12:08 PM | Report abuse

Papagnello | October 14, 2010 12:08 PM

LOL! You probably shouldn't be making fun of the crazy guy.

For one thing he is in the middle of an identity crisis; yesterday he changed his name to Classic777 or something to that effect. Today he is bombing threads with inane, poorly spelled, badly formatted nonsense. Even if he had a rational thought in his head he has proven incapable of expressing it.

For another thing, crazy people are dangerous. Mocking them is easy, but keep in mind that they tend to stockpile firearms and take direction from people like Glen Beck and Mark Levin.

Doesn't this blog have a moderator?

Posted by: PaciolisRevenge | October 14, 2010 12:17 PM | Report abuse

Ethan, I'd like to se Matt Taibbi do a big, dig-deep story on Hank Paulsen that covers his time at Goldman and then extends to his time at Treasury, along with all the G&S folks who migrated back and forth between G&S and government.

Or, Greg?

It's not so much Paulsen as "villain," either; it's the system. It's rotten as hell.

Posted by: BGinCHI | October 14, 2010 12:17 PM | Report abuse

Papagnello at 12:08 PM

I'm not sure what you are talking about - there should be investigations.

First - the question is WHO owns the mortgages?

The Justice Department should be investigating FRAUD - AND throwing the bankers in JAIL.


The FDIC and the Federal Agencies which regulate the Banks - they should be asking this question: Are the POTENTIAL LIABILITIES of the banks so great that they should be declared insolvent ???


The Fraud is so great - at a minimum the banks should be REQUIRED to place into RESERVES enough funds to cover the losses.


AND the losses to the CDO holders, NOT just on the homeowner side.


CLAWBACKS

- ALL salaries and BONUSES should be CLAWED BACK FOR THE LAST SEVEN YEARS.

- These are ill-gotten gains as a result of FRAUD

- Foreclose on THEIR houses - that is the ONLY FITTING and PROPER RESULT.

HOW about that ???

Posted by: SaveTheRainforest | October 14, 2010 12:18 PM | Report abuse

What I am saying, STRF, is that there are probably no guiltless politicians, on either side of the aisle. So start screaming about the stench coming from the right side.

Posted by: Papagnello | October 14, 2010 12:24 PM | Report abuse

PaciolisRevenge at 12:17 PM

Your comment is highly offensive.

In addition, you are making charges which have no basis.


You are hostile - and you are not engaging in civil discussion.


May I suggest that you actually address the topics under discussion.


That would help.

.

Posted by: SaveTheRainforest | October 14, 2010 12:26 PM | Report abuse

Good for the NRSC. Admirable.

Posted by: sbj3 | October 14, 2010 12:31 PM | Report abuse

Papagnello

I thought you were actually trying to talk about what should be done about the foreclosure situation.

Remember - these issues do not simply involve the homeowners - the questions involve the CDO holders as well.


The CDO holders can argue that they really do not OWN the mortgages which are supposed to be in their portfolios - and therefore they deserve compensation from the big banks.

If there is paperwork still to be done - the CDO holders and the mortgage portfolios can argue that they don't want non-performing mortgages - (those mortgages were never properly assigned)

BESIDES, this presents the whole issue of FRAUD before the Courts - if the big banks need a Court order to place a mortgage in a portfolio - the portfolios can say - "WE were promised good mortgages, not bad ones"


The paperwork problem really opens up the issue of Fraud.

ALSO non-performing asset may have serios problems in getting assigned to the portfolios - due to the Trust Law.


Posted by: SaveTheRainforest | October 14, 2010 12:32 PM | Report abuse

"Ethan, I'd like to se Matt Taibbi do a big, dig-deep story on Hank Paulsen..."

Yes.

That and a really detailed analysis of any connection between the massive foreclosure/mortgage fraud with packaging mortgages into credit default swaps. I'm not an expert on any of this, but imho ANY connection there is vitally important. This is systemic fraud on an unprecedented scale.

* US bank stocks roiled by foreclosure concerns *

There are also deepening worries that the use of so-called "robo-signers" to stamp mortgage documents could backfire on banks and lead to fines. The Financial Times on Thursday reported that legal documents show Wells Fargo may have been among the banks using robo-signers.

Barclays analyst Jason Goldberg said investors were seeing credit default spreads widen amid new concerns about mortgage repurchase requests, and JPMorgan's highlighting of the issue on Wednesday was spooking investors.

"It looks like there is a long tail to this cycle," Goldberg said.

http://www.reuters.com/article/idUSN1411762020101014

* Too Big to Fail Rears Its Head Again *

Rep. Alan Grayson (D-Fla.) has gone further, proactively asking the Financial Stability Oversight Council — created by the Dodd-Frank financial regulatory reform law — to step in to stop foreclosures and monitor the banks, just in case.

“There are now trillions of dollars of securitizations of these loans in the hands of investors,” Grayson wrote in a letter (PDF) to the Council, which includes Treasury Secretary Timothy Geithner and Federal Deposit Insurance Corp. Chair Sheila Bair. “The trusts holding these loans are in a legal gray area, as the mortgage titles were never officially transferred to the trusts. The result of this is foreclosure fraud on a massive scale, including foreclosures on people without mortgages or who are on time with their payments. The liability here for the major banks is potentially enormous, and can lead to a systemic risk.”

http://washingtonindependent.com/100638/too-big-to-fail-rears-its-head-again

* Top 10 Loan Servicers; Confusion on JP Morgan's MERS Relationship; Money Flowing into Mortgage Banking Deals *

Just who is servicing all those loans out there? Bank of America is #1 with $2.1 trillion (20% of the market). Wells is #2 with $1.8 trillion (17% of the market). Chase has $1.4 trillion for about 13% of the market, Citi has about $700 billion for a 6% market share, and GMAC/Ally has about $300 billion for 3% of the market. The next five are USB, SunTrust, PHH, OneWest Bank and PNC, all with less than $200 billion and all with less than a 2% market share. In total there is about $10.6 trillion of 1-4 unit servicing outstanding. These 10 companies have about 70% of all residential servicing!

http://www.mortgagenewsdaily.com/channels/pipelinepress/10142010-mers-jobless-claims-chase.aspx

All 3 of these are MUST-READS!

Posted by: Ethan2010 | October 14, 2010 12:49 PM | Report abuse

OMG - they lied!

Posted by: rlj1 | October 14, 2010 12:51 PM | Report abuse

can anyone imagine the teeth gnashing had it been a Democratic vender?

Posted by: angriestdogintheworld1 | October 14, 2010 12:59 PM | Report abuse

How can you tell a lie and not know you're lying? Typical of Republicans to lie to get out of a lie they already told.

Posted by: denise4925 | October 14, 2010 1:05 PM | Report abuse

Papagnello

I thought you were actually trying to talk about what should be done about the foreclosure situation.

Remember - these issues do not simply involve the homeowners - the questions involve the CDO holders as well.


The CDO holders can argue that they really do not OWN the mortgages which are supposed to be in their portfolios - and therefore they deserve compensation from the big banks.

If there is paperwork still to be done - the CDO holders and the mortgage portfolios can argue that they don't want non-performing mortgages - (those mortgages were never properly assigned)

BESIDES, this presents the whole issue of FRAUD before the Courts - if the big banks need a Court order to place a mortgage in a portfolio - the portfolios can say - "WE were promised good mortgages, not bad ones"


The paperwork problem really opens up the issue of Fraud.

ALSO non-performing asset may have serios problems in getting assigned to the portfolios - due to the Trust Law.


Posted by: SaveTheRainforest | October 14, 2010 1:11 PM | Report abuse

"The NRSC's admission came after Politico reported this morning that the person who the NRSC blamed was denying any involvement in use of the "hicky" language -- and had supplied an email proving it."

So them telling the truth after they've been caught in a lie is "admirable?"

Talk about low bars.

Posted by: PaciolisRevenge | October 14, 2010 1:13 PM | Report abuse

Republicans tell the Truth - AFTER being CAUGHT in a LIE!
shocking.....

Posted by: angie12106 | October 14, 2010 1:20 PM | Report abuse

The ISSUE: WHO IS TALKING DOWN TO THE VOTERS IN WEST VIRGINIA?


An independent expenditure REQUIRES a firewall - therefore Raese can NOT be held responsible for any of this - certainly not vendor email.

Manchin - he IS TALKING DOWN TO VOTERS

Manchin is pretending that Voters will never understand INDEPENDENT EXPENDITURES.


It is simple - Raese - Not Responsible


Manchin - Wrong

Posted by: SaveTheRainforest | October 14, 2010 1:22 PM | Report abuse

@Paciolis

You just don't fully understand the disingenuous nature of SBJ. Here's how it breaks down:

Republicans have a bar set about a mile underground, while Dems would have to hitch a ride on the Space Shuttle to clear the bar he holds them to.

You know...that's if you ignore the fact that he almost always hides himself behind other conservative's opinions, and rarely makes a arguement that isn't willfully dishonest or blatently hypocritical.

Posted by: TheBBQChickenMadness | October 14, 2010 1:23 PM | Report abuse

How do we know that they are telling the truth now, and who is going to take on the job of tracking if the firm, gets any business in the future, through a go-between. It looks far more likely, that the NRSC bought themselves a fall guy, to take the blame, after their lies had been exposed. I smell a cover up.

Posted by: Liam-still | October 14, 2010 1:24 PM | Report abuse

@BBQ: "You just don't fully understand the disingenuous nature of SBJ."

Oh go to heck. Read the Politico article.

Posted by: sbj3 | October 14, 2010 1:57 PM | Report abuse

Why is anyone surprised that the GOP elite think of their base as hicks? They just exploit the ignorant for votes, why would they have any respect for them?

Posted by: fingersfly | October 14, 2010 2:13 PM | Report abuse

GOP is a bunch of lying sacks of manure?

Yawn.

What's new?

Posted by: trenda | October 14, 2010 2:37 PM | Report abuse

Yes, very admirable, sbj3. They got caught and admitted they did what they got caught doing.

Posted by: Observer691 | October 14, 2010 2:58 PM | Report abuse

@observer: "They got caught"

Jamestown Associates got caught.

Posted by: sbj3 | October 14, 2010 3:21 PM | Report abuse

How do we know that they are telling the truth now, and who is going to take on the job of tracking if the firm, gets any business in the future, through a go-between. It looks far more likely, that the NRSC bought themselves a fall guy, to take the blame, after their lies had been exposed. I smell a cover up.

Posted by: Liam-still | October 14, 2010 3:26 PM | Report abuse

It figures... The party of personal responsibility, again, takes none!!!!!!!

Posted by: wise_pharaoh | October 14, 2010 3:43 PM | Report abuse

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