Obama nixes plan to tax motorists on mileage: "WASHINGTON – President Barack Obama on Friday rejected his transportation secretary's suggestion that the administration consider taxing motorists based on how many miles they drive instead of how much gasoline they buy.
'It is not and will not be the policy of the Obama administration,' White House press secretary Robert Gibbs told reporters, when asked for the president's thoughts about Transportation Secretary Ray LaHood's suggestion, raised in an interview with The Associated Press a daily earlier."
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Do you get the sense that this administration is basically winging it on everything? It isn't surprising, considering that we have a president who has never administered anything. Don't say "he ran his campaigns," because he didn't. He was the front man, not the guy who wrote the music.
Saturday, February 21, 2009
Pajamas TV - American Tea Party
Pajamas TV - American Tea Party
It will be interesting to see how far this goes and what it turns into.
It will be interesting to see how far this goes and what it turns into.
Colorado sends kisses to California : More Business : The Rocky Mountain News
Colorado sends kisses to California : More Business : The Rocky Mountain News: "Colorado is blowing kisses and singing love songs to California companies and talent, hoping to woo those fed up with the state's budget and political troubles.
The Metro Denver Economic Development Corp. has taken to the skies, YouTube, snail mail and newspapers to tell Golden State execs that the grass is greener, the taxes are lower and the business climate is better in the Centennial State."
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Hey, you mean there is a state that actually wants businesses?
The Metro Denver Economic Development Corp. has taken to the skies, YouTube, snail mail and newspapers to tell Golden State execs that the grass is greener, the taxes are lower and the business climate is better in the Centennial State."
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Hey, you mean there is a state that actually wants businesses?
THE FORECLOSURE FIVE - New York Post
THE FORECLOSURE FIVE - New York Post: "The beneficiaries of taxpayer charity will be highly concentrated in just five states - California, Nevada, Arizona, Florida and Michigan. That is not because the subsidized homeowners are poor (Californians with $700,000 mortgages are not poor), but because they took on too much debt, often by refinancing in risky ways to 'cash out' thousands more than the original loan. Nearly all subprime loans were for refinancing, not buying a home."
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Check the table for % of mortgages underwater.
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Check the table for % of mortgages underwater.
SNLBailoutSkit.wmv (video/x-ms-wmv Object)
SNLBailoutSkit.wmv (video/x-ms-wmv Object)
This hilarious skit is about how the housing market crashed. I am told it was spiked by Saturday Night Live, but I don't know. All I know is this contains some truth.
This hilarious skit is about how the housing market crashed. I am told it was spiked by Saturday Night Live, but I don't know. All I know is this contains some truth.
Orrick Argues for Vallejo Bankruptcy
Orrick Argues for Vallejo Bankruptcy: "With California's economic and budget woes capturing headlines this week, a three-judge panel of the 9th Circuit Court of Appeals heard arguments Thursday in Pasadena over one city's eligibility for bankruptcy protection."
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So far Vallejo, CA, has been the winner, but the municipal unions are challenging the city's eligibility for bankruptcy in court.
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So far Vallejo, CA, has been the winner, but the municipal unions are challenging the city's eligibility for bankruptcy in court.
ThePilot.com : Village, Pinewild Differ On 'Taking': "The attorney for the village of Pinehurst says a new lawsuit by Pinewild annexation opponents is wrong, filed in the wrong court and filed at the wrong time.
Pinewild resident Lydia Boesch and other plaintiffs in the suit want a state court to declare that annexation laws don't apply to gated communities such as Pinewild.
Their complaint asks the court to ' interpret the forced annexation statutes and declare that said statutes do not apply to private, gated common interest communities ' and declare that municipalities such as Pinehurst cannot use these laws 'to involuntarily annex private, gated common interest communities.'"
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This is an argument I have not run across. The village attorney, of course, says annexing a private community is no different than any other property. There is also a takings clause claim. These are intriguing ways to defend against annexation and it would be interesting to see their briefs.
Pinewild resident Lydia Boesch and other plaintiffs in the suit want a state court to declare that annexation laws don't apply to gated communities such as Pinewild.
Their complaint asks the court to ' interpret the forced annexation statutes and declare that said statutes do not apply to private, gated common interest communities ' and declare that municipalities such as Pinehurst cannot use these laws 'to involuntarily annex private, gated common interest communities.'"
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This is an argument I have not run across. The village attorney, of course, says annexing a private community is no different than any other property. There is also a takings clause claim. These are intriguing ways to defend against annexation and it would be interesting to see their briefs.
Chu jumps in 'deep end of the pool' - First Read - msnbc.com: "Energy Secretary Steven Chu may be a Nobel laureate Ph.D. in physics, but his first forays into energy policy suggest he's a neophyte when it comes to the ways of Washington."
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Such as, when asked what the Administration's message was for OPEC, which is meeting next month, he said he didn't know and felt "like I've been dumped into the deep end of the pool" or oil policy. And when asked about OPEC output levels, he said that was "not in my domain."
Oil policy isn't in the domain of the Secretary of Energy? Obviously he is talking complete nonsense. It is, and always has been.
Then later he said those answers reflected "more of my naivete than anything else."
I'd say "naivete" is the wrong word. "Ignorance" would be a better one, I think. Maybe being a Stanford University physics professor isn't the best preparation for that job.
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Such as, when asked what the Administration's message was for OPEC, which is meeting next month, he said he didn't know and felt "like I've been dumped into the deep end of the pool" or oil policy. And when asked about OPEC output levels, he said that was "not in my domain."
Oil policy isn't in the domain of the Secretary of Energy? Obviously he is talking complete nonsense. It is, and always has been.
Then later he said those answers reflected "more of my naivete than anything else."
I'd say "naivete" is the wrong word. "Ignorance" would be a better one, I think. Maybe being a Stanford University physics professor isn't the best preparation for that job.
Local News | $1.5M condo on $20K income? Prospective buyers lose $175K in Bellevue | Seattle Times Newspaper
Local News | $1.5M condo on $20K income? Prospective buyers lose $175K in Bellevue | Seattle Times Newspaper: "Six immigrants who were prequalified for huge mortgages are suing Bellevue Towers and JP Morgan Chase Bank after they lost a combined $174,050 in earnest money. They allege the preferred lender put down false numbers for their income, which made it possible to prequalify but not to qualify for the actual loan, resulting in the loss of their earnest money."
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Limo driver. Barely above minimum wage. Prequalified for a $724,000 loan...but sorry, now that we think about it...no. Too bad about that earnest money.
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Limo driver. Barely above minimum wage. Prequalified for a $724,000 loan...but sorry, now that we think about it...no. Too bad about that earnest money.
Friday, February 20, 2009
Open-primary proposal could shake up politics
Open-primary proposal could shake up politics: "SACRAMENTO — Among the final concessions Democrats granted to end the state's epic budget stalemate was a ballot measure that some say could open the Capitol's doors to moderates and forever change a polarized climate that often paralyzes the Legislature.
The proposal calls for open, nonpartisan primaries that would allow voters to cross party lines in elections for the Legislature, statewide elected officials and congressional districts, but not presidential primaries.
“It could be as significant as the Hiram Johnson reforms,” political analyst Allen Hoffenblum said, alluding to the Progressive-era governor who pushed through California's initiative, referendum and recall statutes in 1911.
Not everyone agrees, and the proposition on the June 2010 ballot almost certainly will face opposition from the state's political establishment and many powerful special interests."
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Thanks to Don Nordeen for this link. I'm not sure this will solve California's problems, but there must be some angry voters ready for change.
The proposal calls for open, nonpartisan primaries that would allow voters to cross party lines in elections for the Legislature, statewide elected officials and congressional districts, but not presidential primaries.
“It could be as significant as the Hiram Johnson reforms,” political analyst Allen Hoffenblum said, alluding to the Progressive-era governor who pushed through California's initiative, referendum and recall statutes in 1911.
Not everyone agrees, and the proposition on the June 2010 ballot almost certainly will face opposition from the state's political establishment and many powerful special interests."
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Thanks to Don Nordeen for this link. I'm not sure this will solve California's problems, but there must be some angry voters ready for change.
Surveillance cams help fight crime, city says :: CHICAGO SUN-TIMES :: Politics
Surveillance cams help fight crime, city says :: CHICAGO SUN-TIMES :: Politics: "Mayor Daley has argued that security and terrorism won’t be an issue if his Olympic dreams come true because, by 2016, there will be a surveillance camera on every street corner in Chicago."
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And this is supposed to be a good thing? Daley has always believed that government should have unlimited power over people, that he was born to rule all us peons, and that he and his corrupt family and friends are entitled to help themselves to whatever they want.
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And this is supposed to be a good thing? Daley has always believed that government should have unlimited power over people, that he was born to rule all us peons, and that he and his corrupt family and friends are entitled to help themselves to whatever they want.
Family to sell cave home on eBay - UPI.com: "FESTUS, Mo., Feb. 19 (UPI) -- A Missouri family says the credit crunch has forced them to put up for sale the 17,000-square-foot home they created in a cave.
Curt Sleeper told the St. Louis Post-Dispatch he and his family, like so many others, are victims of the credit crunch. He has been unable to obtain mortgage refinancing for the cave."
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At least they didn't have an HOA.
Thursday, February 19, 2009
Video - CNBC.com
The Chicago Board Options Exchange Tea Party
Don't miss this. CNBC's Rick Santelli broadcasting from the CBOE, showing you how they feel about the President's housing market proposals.
Don't miss this. CNBC's Rick Santelli broadcasting from the CBOE, showing you how they feel about the President's housing market proposals.
Barack Obama's Mortgage-Relief Plan Rewards Fraud and Defaulters - WSJ.com
Wall Street Journal: Barack Obama's Mortgage-Relief Plan Rewards Fraud and Defaulters - WSJ.com: "The recent history of mortgage modifications isn't encouraging. According to the December report by the Comptroller of the Currency and the Office of Thrift Supervision, 'The number of loans modified in the first quarter that were 30 or more days delinquent was 37 percent after three months and 55 percent after six months. The number of loans modified in the first quarter that were 60 or more days delinquent was 19 percent at three months and nearly 37 percent after six months.'
Said Comptroller John Dugan, 'One very troubling point is that, whether measured using 30-day or 60-day delinquencies, re-default rates increased each month and showed no signs of leveling off after six months and even eight months.'"
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This is a detailed and basically negative analysis of the Obama proposal. The biggest hole in the proposal that I see is the text I cut and pasted above. You can save people from default today, and you can give them a lower payment, but more than half of them will just default again. Some people will be helped, and that is a good thing, but is it worth the price?
The problems in the economy started with mortgages and housing prices, but now we are dealing with broader economic issues that will not be solved by fixing house payments at more reasonable levels.
Said Comptroller John Dugan, 'One very troubling point is that, whether measured using 30-day or 60-day delinquencies, re-default rates increased each month and showed no signs of leveling off after six months and even eight months.'"
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This is a detailed and basically negative analysis of the Obama proposal. The biggest hole in the proposal that I see is the text I cut and pasted above. You can save people from default today, and you can give them a lower payment, but more than half of them will just default again. Some people will be helped, and that is a good thing, but is it worth the price?
The problems in the economy started with mortgages and housing prices, but now we are dealing with broader economic issues that will not be solved by fixing house payments at more reasonable levels.
OKC officer pulls man over for anti-Obama sign on vehicle | NewsOK.com
OKC officer pulls man over for anti-Obama sign on vehicle | NewsOK.com: "An Oklahoma City police officer wrongly pulled over a man last week and confiscated an anti-President Barack Obama sign the man had on his vehicle."
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The sign said "Abort Obama, not the unborn." Despite receiving a completely satisfactory explanation from the man, these intrepid cops confiscated the sign, told the man he was "part of an investigation," and called the Secret Service. The Secret Service told the brain trust to give him back his sign.
If this had happened six months ago, and the offending sign insulted Bush, there would be a Congressional investigation and we'd be hearing about the emerging police state.
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The sign said "Abort Obama, not the unborn." Despite receiving a completely satisfactory explanation from the man, these intrepid cops confiscated the sign, told the man he was "part of an investigation," and called the Secret Service. The Secret Service told the brain trust to give him back his sign.
If this had happened six months ago, and the offending sign insulted Bush, there would be a Congressional investigation and we'd be hearing about the emerging police state.
Home sweet home - The Atlantic Business Channel
Megan McCardle: Home sweet home - The Atlantic Business Channel: "Well, the obvious point is that it represents a massive transfer to borrowers from lenders and the rest of us. As far as I can tell, there is no penalty for having borrowed more than you could realistically afford to repay--not so much as a speck of dirt on the credit report. The administration's release talks a lot about 'responsible homeowners', but very few responsible homeowners have payments that amount to 43% of their monthly income. There are exceptions, of course, such as people who have just lost their jobs, but most of the people being helped are, nearly definitionally, people who bought more house than they could afford in the belief that prices would keep rising indefinitely and they would make big bucks. It was leveraged investing, just like a hedge fund, and often at the same kind of leverage ratios."
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As jungles grow, a new debate on rain forests - International Herald Tribune
As jungles grow, a new debate on rain forests - International Herald Tribune: "Here, and in other tropical countries around the world, small holdings like Ortega de Wing's - and much larger swaths of farmland - are reverting back to nature, as people abandon their land and move to the cities in search of better livings.
These new 'secondary' forests are emerging in Latin America, Asia and other tropical regions at such a fast pace that the trend has set off a serious debate about whether saving primeval rain forest - an iconic environmental cause - may be less urgent than once thought. By one estimate, for every half a hectare of rain forest cut down each year, more than 20 hectares, or 50 acres, of new forest are growing in the tropics on land that was once farmed, logged or ravaged by natural disaster."
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Where is Sting when you need him?
These new 'secondary' forests are emerging in Latin America, Asia and other tropical regions at such a fast pace that the trend has set off a serious debate about whether saving primeval rain forest - an iconic environmental cause - may be less urgent than once thought. By one estimate, for every half a hectare of rain forest cut down each year, more than 20 hectares, or 50 acres, of new forest are growing in the tropics on land that was once farmed, logged or ravaged by natural disaster."
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Where is Sting when you need him?
Wednesday, February 18, 2009
VatorNews - Will Google be broken up? Shades of IBM?: "Christine Varney, nominated by President Obama to be the next U.S. antitrust chief, may be out to break up Google. Or at the least, she seems to be letting it known that she'll be keeping a close eye on it. Varney has described Google as a 'monopoly' that will be as powerful in the computing world as Microsoft was in the software."
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I hope the Obama administration has sense enough to leave Google alone. She said this back on June 19, before the stock market tanked. But the information on Christine Varney from her law firm's website shows that she is a major Democratic Party figure who has the clout to move the federal government against Google...and showing what may be a previous experience with Google that calls her objectivity into question:
"Christine has provided antitrust, competition policy, and regulatory advice to a variety of companies, including eBay, Fox Interactive Media/MySpace, Orbitz Worldwide, Inc., DoubleClick, Ernst & Young, EMI, Intelius, Advertising.com, American Hospital Association, Washingtonpost.Newsweek Interactive, Dow Jones & Company, AOL, Synopsys, Compaq Computer, Gateway, Netscape, The Liberty Alliance, and Real Networks....During her U.S. government tenure, Christine served as a Federal Trade Commissioner from 1994 to 1997. At the Federal Trade Commission, she was a leading official on a wide variety of Internet issues....In addition, she served as Chief Counsel to the Clinton/Gore Campaign, General Counsel to the 1992 Presidential Inaugural Committee, and General Counsel to the Democratic National Committee from 1989 to 1992."
Now check out this quote from the article I linked to, quoting her June 19 talk:
"I’m deeply troubled by their acquisition of DoubleClick, and I’m deeply troubled by their deal with Yahoo."
She is "deeply troubled" by their acquisition of DoubleClick, a company she "provided antitrust, competition policy, and regulatory advice to." Did she advise Doubleclick about defending against their acquisition by Google? If so, I think she isn't the person who should be deciding whether the feds should take on Google.
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I hope the Obama administration has sense enough to leave Google alone. She said this back on June 19, before the stock market tanked. But the information on Christine Varney from her law firm's website shows that she is a major Democratic Party figure who has the clout to move the federal government against Google...and showing what may be a previous experience with Google that calls her objectivity into question:
"Christine has provided antitrust, competition policy, and regulatory advice to a variety of companies, including eBay, Fox Interactive Media/MySpace, Orbitz Worldwide, Inc., DoubleClick, Ernst & Young, EMI, Intelius, Advertising.com, American Hospital Association, Washingtonpost.Newsweek Interactive, Dow Jones & Company, AOL, Synopsys, Compaq Computer, Gateway, Netscape, The Liberty Alliance, and Real Networks....During her U.S. government tenure, Christine served as a Federal Trade Commissioner from 1994 to 1997. At the Federal Trade Commission, she was a leading official on a wide variety of Internet issues....In addition, she served as Chief Counsel to the Clinton/Gore Campaign, General Counsel to the 1992 Presidential Inaugural Committee, and General Counsel to the Democratic National Committee from 1989 to 1992."
Now check out this quote from the article I linked to, quoting her June 19 talk:
"I’m deeply troubled by their acquisition of DoubleClick, and I’m deeply troubled by their deal with Yahoo."
She is "deeply troubled" by their acquisition of DoubleClick, a company she "provided antitrust, competition policy, and regulatory advice to." Did she advise Doubleclick about defending against their acquisition by Google? If so, I think she isn't the person who should be deciding whether the feds should take on Google.
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