Detroit Is Tanking, But Toyota's in Trouble, Too | Autopia from Wired.com: "Toyota's stock nosedived 17 percent last week -- its greatest decline in 18 years -- after the company announced it will see an operating profit of just $6.9 billion, a 73.6 percent decline over last year. That's far worse than expected, and it underscores not only the dismal state of the domestic auto market but some strategic mistakes Toyota made on its way to becoming the biggest automaker in the world."
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What the heck. Let's bail them out too. The article says auto sales dropped 32% in October. Not their fault. Shovel the money at them.
Wednesday, November 12, 2008
The Great TARP Bait and Switch: "This morning Treasury Secretary Henry Paulson addressed a skeptical press about the latest plans for those 700 billion dollars that were appropriated for the 'TARP' -- or Troubled Asset Recovery Program. Now Paulson says Treasury won't buy those 'Trouble Assets' -- one of the many metamorphoses this program has had in its young life.
In the meantime, care to apply for some TARP money? Turns out there's a five-page, downloadable document to fill in -- if you're interested...here's the link.
And here's ABC's Dan Arnall on whether there has been, as he puts it, a 'Great TARP Bait & Switch'."
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All you troubled condos and HOAs, better get to work on that 5 page form. Pretty soon you will be standing behind Iceland.
In the meantime, care to apply for some TARP money? Turns out there's a five-page, downloadable document to fill in -- if you're interested...here's the link.
And here's ABC's Dan Arnall on whether there has been, as he puts it, a 'Great TARP Bait & Switch'."
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All you troubled condos and HOAs, better get to work on that 5 page form. Pretty soon you will be standing behind Iceland.
IBDeditorials.com: Editorials, Political Cartoons, and Polls from Investor's Business Daily -- Another Brick In 'The Wall'?
IBDeditorials.com: Editorials, Political Cartoons, and Polls from Investor's Business Daily -- Another Brick In 'The Wall'?: "Transition: Jamie Gorelick may be back, this time as attorney general. It was her 'wall of separation' that that left us blind pre-9/11. And let's not forget her admirable service at Fannie Mae."
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I hope this rumor is groundless.
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I hope this rumor is groundless.
MotherJones Blog: Was Obama Economic Envoy Part of the Problem?
MotherJones Blog: Was Obama Economic Envoy Part of the Problem?
Obama is sending former Congressman Jim Leach to the G-20 summit. When he was in Congress he chaired the House Banking Committee and was one of the major proponents of passage of the Gramm-Leach-Bliley legislation (see that "Leach" in the title?). That's the bill that ended the separation of commercial and investment banking. You know--the law that Obama said was passed because of evil "special interests" and caused the collapse of the credit markets? Republicans blamed in on government forcing banks to lend to unqualified people, but Democrats pointed to deregulation of the financial markets. They also demonized Phil Gramm on that score, and here is Leach on the same bill.
Obama is sending former Congressman Jim Leach to the G-20 summit. When he was in Congress he chaired the House Banking Committee and was one of the major proponents of passage of the Gramm-Leach-Bliley legislation (see that "Leach" in the title?). That's the bill that ended the separation of commercial and investment banking. You know--the law that Obama said was passed because of evil "special interests" and caused the collapse of the credit markets? Republicans blamed in on government forcing banks to lend to unqualified people, but Democrats pointed to deregulation of the financial markets. They also demonized Phil Gramm on that score, and here is Leach on the same bill.
Ahead of the Bell: American Express seeks $3.5B: Financial News - Yahoo! Finance: "Earlier this week, American Express received approval from the Federal Reserve to become a bank holding company, which is a similar structure to traditional commercial banks. The credit card company now has access to financing from the Fed and the ability to grow a large deposit base. The increased funding opportunities through government programs, including the potential $3.5 billion investment, could be a huge boost to American Express as one of its primary sources of funding has nearly disappeared amid the ongoing credit crisis. American Express relied on packaging pools of credit card debt and selling them to investors in the securitization market. As investors have shied away from purchasing all but the safest forms of debt, the market for credit card-backed securities has dwindled. American Express is also facing a slowdown in the broader economy, which has led to more customers missing payments and cutting back on spending, hurting the company's profitability."
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Well, of course. Why shouldn't the federal taxpayers "invest" in American Express? Their venture into peddling securitized credit card debt has proven to be a mistake, and we taxpayers are supposed to insure them against business risks. Along with the auto industry. And the banks. And the insurance companies. And the states. And the cities.
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Well, of course. Why shouldn't the federal taxpayers "invest" in American Express? Their venture into peddling securitized credit card debt has proven to be a mistake, and we taxpayers are supposed to insure them against business risks. Along with the auto industry. And the banks. And the insurance companies. And the states. And the cities.
US May Lose Its 'AAA' Rating - General * Europe * News * Story - CNBC.com
US May Lose Its 'AAA' Rating - General * Europe * News * Story - CNBC.com: "'The U.S. might really have to look at a default on the bankruptcy reorganization of the present financial system' and the bankruptcy of the government is not out of the realm of possibility, Hennecke said."
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Maybe the federal government should get in its own bailout line. That would turn it into a circle, and people can just walk around and around.
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Maybe the federal government should get in its own bailout line. That would turn it into a circle, and people can just walk around and around.
Tuesday, November 11, 2008
Voting Machines Elect One Of Their Own As President | The Onion - America's Finest News Source
Voting Machines Elect One Of Their Own As President | The Onion - America's Finest News Source
Given the problems that both major party candidates had, this comes as no surprise.
Given the problems that both major party candidates had, this comes as no surprise.
FHA Issues New Guidelines to Curb the Practice of ‘Buy and Bail’ | RISMedia
FHA Issues New Guidelines to Curb the Practice of ‘Buy and Bail’ | RISMedia: "The practice of “buy and bail” is where the home buyer purchases (the “buy”), for example, a more affordable dwelling with the intention to cease making payments on the previous home’s mortgage (the “bail”). Among the various reasons for a home buyer to engage in this practice may be they owe the bank more money than the house is worth, they could no longer afford their monthly mortgage payments, or they simply have found a more affordable or nicer home and can’t sell the home they are vacating.
But how can homeowners get a loan for a new home if they are barely able to make their current payments? In many cases, they tell the underwriters they plan to rent out the first house and seek to use that income to qualify for a new mortgage on their new principal residence. In essence, they are trying to qualify and secure the mortgage on the new home before the severely negative consequences the “pending” foreclosure on the first home will have on their credit rating. According to FHA, the practice of “buy and bail” poses a risk to FHA, FHA-approved lenders, and consequently to FHA’s ability to help new homeowners.
On September 19, 2008, FHA released Mortgagee Letter 2008-25, which addresses underwriting instructions for converting existing owner-occupied homes to rentals. The purpose of these news guidelines is to prevent FHA loans from being used in “buy and bail” situations."
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Where do people learn about all these devious little strategies? All I know how to do is buy a house, make the payment, sell the house, buy another house, make the payments...repeat until hit by taxi while crossing street in downtown Chicago.
But how can homeowners get a loan for a new home if they are barely able to make their current payments? In many cases, they tell the underwriters they plan to rent out the first house and seek to use that income to qualify for a new mortgage on their new principal residence. In essence, they are trying to qualify and secure the mortgage on the new home before the severely negative consequences the “pending” foreclosure on the first home will have on their credit rating. According to FHA, the practice of “buy and bail” poses a risk to FHA, FHA-approved lenders, and consequently to FHA’s ability to help new homeowners.
On September 19, 2008, FHA released Mortgagee Letter 2008-25, which addresses underwriting instructions for converting existing owner-occupied homes to rentals. The purpose of these news guidelines is to prevent FHA loans from being used in “buy and bail” situations."
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Where do people learn about all these devious little strategies? All I know how to do is buy a house, make the payment, sell the house, buy another house, make the payments...repeat until hit by taxi while crossing street in downtown Chicago.
Fannie Mae, Freddie Mac and Feds to Speed Up Home Loan Modifications - FOXBusiness.com
Fannie Mae, Freddie Mac and Feds to Speed Up Home Loan Modifications - FOXBusiness.com: "Sources told FOX Business Network that Fannie Mae, Freddie Mac and U.S. government officials will announce later Tuesday that they will hasten efforts to modify hundreds of thousands of loans that are past due. The goal is to bring the ratio of household debt to income for the borrowers down to 38%. U.S. government officials also plan to encourage large banks that hold loans to take similar steps.
The program will be an extension of HOPE NOW alliance, which was announced last year and is designed to prevent foreclosures by reworking the terms of mortgages."
The program will be an extension of HOPE NOW alliance, which was announced last year and is designed to prevent foreclosures by reworking the terms of mortgages."
Council ranks term 'British' with 'negroes' and bans it in case it upsets Scots, Welsh and minorities | Mail Online
Council ranks term 'British' with 'negroes' and bans it in case it upsets Scots, Welsh and minorities | Mail Online: "The word ‘British’ can be as offensive as ‘negro’ and ‘half-caste’, according to a race relations body.
The publicly-funded organisation’s views have been adopted by Caerphilly council in South Wales for a leaflet advising staff on how to deal with the public.
In a section on what words or phrases not to use to avoid causing offence, the leaflet solemnly informs the council’s 9,000 workers: ‘The idea of “British” implies a false sense of unity – many Scots, Welsh and Irish resist being called British and the land denoted by the term contains a wide variety of cultures, languages and religions.’"
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The nation's official name is "The United Kingdom of Great Britain and Northern Ireland," so whaat do you call people from that nation, if not British? Do we call them "Uniteds"? "Kingdomites"? How about "UKs"?
I hope this madness doesn't spread across the pond. If the PC police start saying we can't call ourselves Americans there will be a revolution.
The publicly-funded organisation’s views have been adopted by Caerphilly council in South Wales for a leaflet advising staff on how to deal with the public.
In a section on what words or phrases not to use to avoid causing offence, the leaflet solemnly informs the council’s 9,000 workers: ‘The idea of “British” implies a false sense of unity – many Scots, Welsh and Irish resist being called British and the land denoted by the term contains a wide variety of cultures, languages and religions.’"
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The nation's official name is "The United Kingdom of Great Britain and Northern Ireland," so whaat do you call people from that nation, if not British? Do we call them "Uniteds"? "Kingdomites"? How about "UKs"?
I hope this madness doesn't spread across the pond. If the PC police start saying we can't call ourselves Americans there will be a revolution.
Sacramento Bee -- Capitol Alert
Sacramento Bee -- Capitol Alert: "Assembly Speaker Karen Bass said today that the nation's most populous state deserves the same bailout consideration given to financial and other industries teetering on the verge of disaster.
'We can't let one of the world's largest economies go over the cliff,' she told reporters.
Bass, D-Los Angeles, made the comments shortly after the Legislative Analyst's Office released a report projecting that the state faces a $27.8 billion shortfall over the next 20 months.
Bass said she is aware that California's congressional delegation and House Speaker Nancy Pelosi are 'working on an economic stimulus plan (and) talking about assistance to states.'"
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Bass says all they want is a measly 5 or 6 billion. That would still leave another 20 billion or so to cover, but maybe they they sell the freeway system to the Chinese.
'We can't let one of the world's largest economies go over the cliff,' she told reporters.
Bass, D-Los Angeles, made the comments shortly after the Legislative Analyst's Office released a report projecting that the state faces a $27.8 billion shortfall over the next 20 months.
Bass said she is aware that California's congressional delegation and House Speaker Nancy Pelosi are 'working on an economic stimulus plan (and) talking about assistance to states.'"
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Bass says all they want is a measly 5 or 6 billion. That would still leave another 20 billion or so to cover, but maybe they they sell the freeway system to the Chinese.
Obama asks Bush to provide help for automakers - International Herald Tribune
Obama asks Bush to provide help for automakers - International Herald Tribune: "The struggling auto industry was thrust into the middle of a political standoff between the White House and Democrats on Monday as President-elect Barack Obama urged President George W. Bush to support immediate emergency aid."
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I think "help for autoWORKERS" would be a more accurate characterization of this proposal.
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I think "help for autoWORKERS" would be a more accurate characterization of this proposal.
WHO TV - Des Moines: Citigroup imposing foreclosure moratorium
WHO TV - Des Moines: Citigroup imposing foreclosure moratorium: "NEW YORK (AP) - Citigroup is the latest big bank to announce a moratorium on foreclosures to trim its losses from bad mortgages.
Citigroup says if a borrower is in his principal residence, is working with the bank in good faith, and has enough income for affordable mortgage payments, it won't initiate a foreclosure or complete a foreclosure sale."
Citigroup says if a borrower is in his principal residence, is working with the bank in good faith, and has enough income for affordable mortgage payments, it won't initiate a foreclosure or complete a foreclosure sale."
A Town Drowns in Debt as Home Values Plunge - NYTimes.com
A Town Drowns in Debt as Home Values Plunge - NYTimes.com: "Because of plunging home values, almost 90 percent of homeowners here owe more on their mortgages than their houses are worth, according to figures released Monday. That is the highest percentage in the country. The average homeowner in Mountain House is “underwater,” as it is known, by $122,000."
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Submitted for your consideration: Mountain House, California, where 90% of the population is upside down on the mortgage. Fred Pilot found this one.
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Submitted for your consideration: Mountain House, California, where 90% of the population is upside down on the mortgage. Fred Pilot found this one.
Poll shows lukewarm support for federal auto bailout - USATODAY.com
Poll shows lukewarm support for federal auto bailout - USATODAY.comGM stock went from $90 per share 8 years ago to a princely $2.80 today. How can people not be lukewarm about seeing their tax dollars blown on a company that so obviously is doomed?
Mayors want part of auto bailout | The Detroit News | detnews.com
Mayors want part of auto bailout | The Detroit News | detnews.com: "STERLING HEIGHTS -- The mayors of four large Metro Detroit communities on Monday called for a share of the federal bailout sought by Detroit's Big Three automakers to help redevelop shuttered facilities and factories.
The mayors of Warren, Sterling Heights, Livonia and Dearborn met at the Sterling Heights Public Library for about an hour to discuss the proposal. The mayors were joined by representatives from Gov. Jennifer Granholm's office, Michigan's congressional delegation, the Michigan Economic Development Corp., the Southeast Michigan Council of Governments and the Michigan Municipal League.
The four city leaders -- Warren Mayor James Fouts, Sterling Heights Mayor Richard Notte, Dearborn Mayor Jack O'Reilly and Livonia Mayor Jack Kirksey -- are calling for the proposed federal bailout of the auto industry to include a provision that would give their communities and others like them 20 percent of the assessed value of properties owned by car companies or auto parts makers within their borders for redevelopment."
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Cities in the bailout line--just as I predicted. This $700 billion isn't going to go far at this rate.
The mayors of Warren, Sterling Heights, Livonia and Dearborn met at the Sterling Heights Public Library for about an hour to discuss the proposal. The mayors were joined by representatives from Gov. Jennifer Granholm's office, Michigan's congressional delegation, the Michigan Economic Development Corp., the Southeast Michigan Council of Governments and the Michigan Municipal League.
The four city leaders -- Warren Mayor James Fouts, Sterling Heights Mayor Richard Notte, Dearborn Mayor Jack O'Reilly and Livonia Mayor Jack Kirksey -- are calling for the proposed federal bailout of the auto industry to include a provision that would give their communities and others like them 20 percent of the assessed value of properties owned by car companies or auto parts makers within their borders for redevelopment."
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Cities in the bailout line--just as I predicted. This $700 billion isn't going to go far at this rate.
Final salary pension schemes facing 'extinction' after credit crunch drives them £100bn into red | Mail Online
Final salary pension schemes facing 'extinction' after credit crunch drives them £100bn into red | Mail Online: "In a sign of the growing pensions apartheid, they say it is only private sector workers who will lose out.
Public sector workers have nothing to worry about. Around 90 per cent have a protected pension, and the Government is controversially ignoring the demands for these generous schemes to be cut back."
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This is Britain, but the same dynamic is at work here. Public employees often have their pension benefit levels guaranteed by their state constitution.
Public sector workers have nothing to worry about. Around 90 per cent have a protected pension, and the Government is controversially ignoring the demands for these generous schemes to be cut back."
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This is Britain, but the same dynamic is at work here. Public employees often have their pension benefit levels guaranteed by their state constitution.
Circuit City files for bankruptcy protection: Financial News - Yahoo! Finance
Circuit City files for bankruptcy protection: Financial News - Yahoo! FinanceThe company also said it cut 700 more jobs at its Richmond, Va., headquarters, after announcing a week ago that it would close 20 percent of its stores and lay off thousands of workers.
In court documents, Chief Financial Officer Bruce H. Besanko cited three factors: erosion of vendor confidence, decreased liquidity and the global economic crisis.
In court documents, Chief Financial Officer Bruce H. Besanko cited three factors: erosion of vendor confidence, decreased liquidity and the global economic crisis.
Monday, November 10, 2008
ABC News: Meet America's First Transgender Mayor
ABC News: Meet America's First Transgender Mayor: "The first time Stu Rasmussen was elected mayor of Silverton, Ore., he wore shirts and pants. This time around, after a landslide victory, he will be stepping into office donning a dress and makeup."
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The mayor says this is a conservative town, and "The community was very receptive and accepting, with a few exceptions."
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The mayor says this is a conservative town, and "The community was very receptive and accepting, with a few exceptions."
Architecture: A City That's Built at the Bottom of a Lake
Architecture: A City That's Built at the Bottom of a Lake: "Here's something you don't see every day: a town built in the middle of a lake. Not on an island, but actually below water level. It's the ancient city of Seuthopolis, in Bulgaria, which was discovered in 1948. Six years later, a dam was destroyed and it was covered in water, ending up at the bottom of a huge lake. Now, the city is being unearthed via the most insane architectural project ever."
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This is cool.
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This is cool.
Belief that country heading in right direction is at all-time low - CNN.com: "Only 16 percent of those questioned in a new CNN/Opinion Research Corporation survey released Monday say things are going well in the country today. That's an all-time low. Eighty-three percent say things are going badly, which is an all-time high."
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You could say Bush is not a hard warm-up act to follow, except that when he leaves the stage will be on fire.
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You could say Bush is not a hard warm-up act to follow, except that when he leaves the stage will be on fire.
Daily Express | UK News :: TV chefs send sales of liver, kidneys and tripe soaring: "SALES of offal are on the up thanks in part to TV celebrity chefs.
Figures yesterday revealed that sales of liver, kidneys and tripe have shot up by nearly 70 per cent since 2003. Such cuts are often cheaper for families on a budget."
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Seems that Gordon Ramsay favors the odd pile of guts, so the fans are following suit. Next up: how to cook what you found in a dumpster.
Auto Makers Force Bailout Issue - WSJ.com: "The auto-industry crisis is forcing a broader debate over how far the government should go to prop up ailing industries, as the Bush administration resists Democrats' request to use part of the $700 billion financial-rescue fund to aid Detroit's three struggling car makers."
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I see a big difference between bailing out financial institutions and auto makers. The former were basically solvent until recently when the housing market crashed and a series of unusual events occurred. Yes, they made mistakes, but they were functioning in their market. The auto makers have been in trouble for at least 35 years due to their high labor costs (that they contracted for with the UAW), consumer dissatisfaction with their product, and other things that won't change if they get money from the taxpayers. I can see the financial sector making a comeback. I can't see the automakers doing that. So it seems like just giving money to these companies so they can keep paying their workers for a while longer, so they can build some more cars that don't sell particularly well (to the people who bailed them out), and then in a few more years they will be back for another bailout. Maybe instead of the taxpayers bailing them out, Americans could just buy their cars. I drive a Ford Freestyle myself, and I consider that my contribution to the bailout.
HOA bans rain barrels in woman's front yard | WCNC.com | Local News for Charlotte, North Carolina | Local News
HOA bans rain barrels in woman's front yard | WCNC.com | Local News for Charlotte, North Carolina | Local News: "While rain barrels conserve water, not everyone at St. Ives is happy about them. The St. Ives Homeowners Association newsletter says it all. 'The installation of these barrels will not be permitted in front of any property.' That's right. The HOA says rain barrels are not allowed in front of homes, even though Von Hedrich uses shrubbery to camouflage them."
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At this rate, pretty soon HOAs will find themselves getting crossways with the hippies who are headed for Washington to run the country for the next four years. Thanks to Fred Pilot for this link.
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At this rate, pretty soon HOAs will find themselves getting crossways with the hippies who are headed for Washington to run the country for the next four years. Thanks to Fred Pilot for this link.
Pol Who Peed on Crowd Swears Off Booze | NBC New York
Jersey City Councilman Who Peed on Crowd Swears Off Booze | NBC New York: "The New Jersey councilman who allegedly urinated on a crowd of concertgoers from the balcony of a Washington, D.C. nightclub swore off booze on Sunday -- two days after he was busted for the embarrassing stunt."
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Let's see if any HOA directors can top that.
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Let's see if any HOA directors can top that.
Bloomberg.com: Worldwide
Bloomberg.com: Worldwide: "Nov. 10 (Bloomberg) -- The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral. Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson said in September they would comply with congressional demands for transparency in a $700 billion bailout of the banking system. Two months later, as the Fed lends far more than that in separate rescue programs that didn't require approval by Congress, Americans have no idea where their money is going or what securities the banks are pledging in return."
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I wonder what would have happened in the election if McCain had come out in opposition to the bailout. It would have passed anyway, but I have yet to meet anybody who thinks it was a great idea.
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I wonder what would have happened in the election if McCain had come out in opposition to the bailout. It would have passed anyway, but I have yet to meet anybody who thinks it was a great idea.
Sunday, November 09, 2008
As US churches mark election, Obama skips services - Boston.com
As US churches mark election, Obama skips services - Boston.com: "CHICAGO—His name was invoked at church services nationwide on Sunday, but President-elect Obama didn't attend any of them. He went to the gym instead."
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Definitely a safer bet than listening to Jeremiah Wright. The article reminds us that he has been saying since he ditched his toxic pastor in May that he was looking for a new church. I assume he was waiting to see whether it would be in Chicago or DC, not to mention that he has been done more flying around the country than a UPS pilot. Now he needs a church in the district. I wonder if he will choose Foundry United Methodist. That's the power church the Clintons attended.
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Definitely a safer bet than listening to Jeremiah Wright. The article reminds us that he has been saying since he ditched his toxic pastor in May that he was looking for a new church. I assume he was waiting to see whether it would be in Chicago or DC, not to mention that he has been done more flying around the country than a UPS pilot. Now he needs a church in the district. I wonder if he will choose Foundry United Methodist. That's the power church the Clintons attended.
Foreclosures Pick Pockets of Homeowners Associations - washingtonpost.com: "If you live in a neighborhood that has a homeowners association, brace yourself. Neighbors losing their homes to foreclosure and short sales not only are dragging down your property values but also are setting you up for higher fees. There's even a threat that your entire neighborhood could grow shabby over time, if cash runs short for upkeep."
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Oh, and did we neglect to mention that there is even a threat that you will get socked with a five-figure special assessment?
My Way News - Regulators shut banks in Texas, California
My Way News - Regulators shut banks in Texas, California: "WASHINGTON (AP) - Regulators shut down Houston-based Franklin Bank and Security Pacific Bank in Los Angeles on Friday, bringing the number of failures of federally insured banks this year to 19."
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I banked at Security Pacific for many years. It was everywhere in Southern California. What a strange feeling to read that they are shut down.
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I banked at Security Pacific for many years. It was everywhere in Southern California. What a strange feeling to read that they are shut down.
Obama's Heightened Security Turns Neighborhood Into Virtual Fortress - FOXNews.com Elections
Obama's Heightened Security Turns Neighborhood Into Virtual Fortress - FOXNews.com Elections: "President-elect Barack Obama's Chicago neighborhood has become a very different place to live now that Secret Service agents have turned the once easy-going area into a virtual fortress to protect the next president, The Times of London reported."
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Hyde Park...a gated community.
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Hyde Park...a gated community.
Big-box stores closing across West Valley
Big-box stores closing across West Valley: by Erin Zlomek - Nov. 7, 2008 07:36 AM
The Arizona Republic
"Big-box retailers that once aggressively expanded across the West Valley while home construction was on the rise are closing en masse as the difficult economy continues to hurt business."
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This is turning into suburbanization in reverse.
The Arizona Republic
"Big-box retailers that once aggressively expanded across the West Valley while home construction was on the rise are closing en masse as the difficult economy continues to hurt business."
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This is turning into suburbanization in reverse.
Saturday, November 08, 2008
Latest News | Top Stories | News Articles
Latest News | Top Stories | News Articles: "CLEVELAND (AP) -- A contractor who found $182,000 in Depression-era currency hidden in a bathroom wall has ended up with only a few thousand dollars, but he feels some vindication. The windfall discovery amounted to little more than grief for contractor Bob Kitts, who couldn't agree on how to split the money with homeowner Amanda Reece."
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Look on the bright side. At least there was no HOA to cite them for not getting the work approved in advance.
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Look on the bright side. At least there was no HOA to cite them for not getting the work approved in advance.
Deborah Howell - An Obama Tilt in Campaign Coverage - washingtonpost.com
Deborah Howell - An Obama Tilt in Campaign Coverage - washingtonpost.com: "The Post provided a lot of good campaign coverage, but readers have been consistently critical of the lack of probing issues coverage and what they saw as a tilt toward Democrat Barack Obama. My surveys, which ended on Election Day, show that they are right on both counts."
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Just in time.
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Just in time.
Friday, November 07, 2008
National Underwriter Property & Casualty
Mortgage Insurance Fraud Seen Spurring Policy Cancellations: "According to Susman Godfrey, grounds for rescission cited by mortgage insurers include cases where loan originators and underwriters approved loans using grossly inflated statements of borrower income and assets, fraudulent employment and occupancy information, and false debt-to-income ratios. There are also cases where banks and other entities created pools of bad loans, and then shifted losses to mortgage insurers by lying about the quality of the loans, the firm noted."
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Thanks to Fred Pilot for this link.
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Thanks to Fred Pilot for this link.
His Job at Bear Gone, Mr. Fox Chose Suicide - WSJ.com
His Job at Bear Stearns Gone, Mr. Fox Chose Suicide - WSJ.com: "Barry Fox, a research supervisor who worked for nine years at the brokerage firm, took a drug overdose and then jumped from his 29th-floor apartment the evening in May after he learned he wouldn't be hired by J.P. Morgan Chase & Co., which was about to buy his firm."
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Honeywell to move 700 jobs out of U.S.
Honeywell to move 700 jobs out of U.S.: "The announcement came two days after Barack Obama, who has promised to take a hard line with companies that move manufacturing jobs overseas, was elected the 44th U.S. president."
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Thursday, November 06, 2008
Bloomberg.com: Worldwide
Bloomberg.com: Worldwide: "Las Vegas Sands Corp., billionaire Sheldon Adelson's casino company, fell the most in New York trading since going public after saying it may default on debt and face bankruptcy. The casino owner, which had $8.8 billion in long-term debt at the end of June, said in a regulatory filing today that it probably won't meet the requirements of loans arranged by Citigroup Inc., Goldman Sachs Group Inc. and Lehman Brothers Holdings Inc. unless it cuts spending on developments, boosts earnings at its Las Vegas Strip casinos and raises more capital. The reversal of fortune is a black eye for the 75-year-old Adelson, who was once America's third-richest man on the strength of his Las Vegas Sands holdings. The Las Vegas-based company's dwindling cash flow is threatening $16 billion worth of developments in Macau, China, and Singapore, where Las Vegas Sands is building resorts to cater to wealthy Asian gamblers. "
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I neglected to put casinos on the bailout list. Consider the omission corrected.
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I neglected to put casinos on the bailout list. Consider the omission corrected.
Breitbart.tv » Governor Announces Plan To Stop Calif Foreclosures
Breitbart.tv » Governor Announces Plan To Stop Calif Foreclosures: "KOVR: The Republican administration on Wednesday announced a plan to encourage lenders to modify existing home loans as a way of keeping people out of foreclosure. The governor also proposed a 90-day moratorium for homeowners facing default on their loans. Lenders, however, would still be able to exempt themselves under certain circumstances."
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I think something has to be done at the bottom of the ladder.
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I think something has to be done at the bottom of the ladder.
Breitbart.tv » Governor Announces Plan To Stop Calif Foreclosures
Breitbart.tv » Governor Announces Plan To Stop Calif Foreclosures: "KOVR: The Republican administration on Wednesday announced a plan to encourage lenders to modify existing home loans as a way of keeping people out of foreclosure. The governor also proposed a 90-day moratorium for homeowners facing default on their loans. Lenders, however, would still be able to exempt themselves under certain circumstances."
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I think something has to be done at the bottom of the ladder.
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I think something has to be done at the bottom of the ladder.
Solar power game-changer: 'Near perfect' absorption of sunlight, from all angles
Solar power game-changer: 'Near perfect' absorption of sunlight, from all angles: "Researchers at Rensselaer Polytechnic Institute have discovered and demonstrated a new method for overcoming two major hurdles facing solar energy. By developing a new antireflective coating that boosts the amount of sunlight captured by solar panels and allows those panels to absorb the entire solar spectrum from nearly any angle, the research team has moved academia and industry closer to realizing high-efficiency, cost-effective solar power."
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This has the potential to revolutionize energy generation for residential use and transportation.
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This has the potential to revolutionize energy generation for residential use and transportation.
Wednesday, November 05, 2008
Obama's housing plan not enough to fix problems - International Herald Tribune
Obama's housing plan not enough to fix problems - International Herald Tribune: "His plan includes a 10 percent mortgage tax credit for homeowners who don't itemize their taxes, and a change in the bankruptcy law to allow judges to modify mortgages for financially distressed homeowners. Obama's Web site also says he will 'fight mortgage fraud and protect consumers against abusive lending practices,' and standardize loan forms to make it easier for borrowers to understand the true costs. But those proposals will have a minimal impact on the more than 4 million homeowners who are behind on their mortgages. They probably won't prop up home prices, which are down 18 percent from the peak. Nor will they bolster the confidence of consumers who have lost their jobs or are afraid they will. And Obama's plan won't make banks more willing to lend to consumers with less than perfect credit scores, or tiny down payments."
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Web site, schmeb site. It's about hope and change, people!
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Web site, schmeb site. It's about hope and change, people!
Tuesday, November 04, 2008
Black Man Given Nation's Worst Job | The Onion - America's Finest News Source
Black Man Given Nation's Worst Job | The Onion - America's Finest News Source: "WASHINGTON—African-American man Barack Obama, 47, was given the least-desirable job in the entire country Tuesday when he was elected president of the United States of America. In his new high-stress, low-reward position, Obama will be charged with such tasks as completely overhauling the nation's broken-down economy, repairing the crumbling infrastructure, and generally having to please more than 300 million Americans and cater to their every whim on a daily basis. As part of his duties, the black man will have to spend four to eight years cleaning up the messes other people left behind. The job comes with such intense scrutiny and so certain a guarantee of failure that only one other person even bothered applying for it."
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America's Finest News Source captures the essence of current events.
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America's Finest News Source captures the essence of current events.
But Where Did Bush Go Wrong? - HUMAN EVENTS
But Where Did Bush Go Wrong? - HUMAN EVENTS: "The GOP needs to confront the truth: The failure of the Bush presidency lies not in a failed execution of policy but in the policies themselves and the neoconservative ideology that informed them. Yet, still, the party remains in denial, refusing to come to terms with the causes of its misfortune. One expects they will be given the time and opportunity for reflection soon."
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Pat Buchanan is not overburdened with redeeming qualities, but in these few sentences I think he makes a good point. The Republican party needs to rethink itself. The Bush mix of neoconservative interventionism in foreign policy, religion-based social policies, and free market economics won't sell in this country anymore--at least, that's the way it looks today.
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Pat Buchanan is not overburdened with redeeming qualities, but in these few sentences I think he makes a good point. The Republican party needs to rethink itself. The Bush mix of neoconservative interventionism in foreign policy, religion-based social policies, and free market economics won't sell in this country anymore--at least, that's the way it looks today.
Virginia reports some early voting problems - Virginia Politics -
Virginia reports some early voting problems - Virginia Politics -: "'Apparently what is happening is some of the problems that are occurring is voters coming in out of the rain with wet hands and wet clothes,' Pollard said, adding that the board has received multiple reports of the problem. 'Ballots are getting wet and affecting the machines. You need to be sure to dry your hands before completing your ballot.'"
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See? I told you Karl Rove was tuning up the Hurricane Machine.
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See? I told you Karl Rove was tuning up the Hurricane Machine.
Jonathan Martin's Blog: Professor ousted after tearing down McCain yard signs - Politico.com
Jonathan Martin's Blog: Professor ousted after tearing down McCain yard signs - Politico.com: "The St. Olaf (Minn.) professor who recounted tearing down McCain campaign signs in a well-read Huffington Post item has resigned."
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Wow. That's a pretty heavy punishment for something like this. It isn't as though he ran people down with his car for wearing McCain buttons.
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Wow. That's a pretty heavy punishment for something like this. It isn't as though he ran people down with his car for wearing McCain buttons.
Flag-waving gunman closes Calif. highway for hours - Yahoo! News
Flag-waving gunman closes Calif. highway for hours - Yahoo! News: "The man agreed to give up after he was allowed to attach a Barack Obama campaign sign and the flag to the overpass railing, said police Sgt. Jim Pfleging."
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Was he clinging to the gun, or just the railing?
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Was he clinging to the gun, or just the railing?
YouTube - Obama Is Going To Pay For My Gas And Mortgage!!!
YouTube - Obama Is Going To Pay For My Gas And Mortgage!!!
I guess some people are reading between the lines of Obama's speeches.
I guess some people are reading between the lines of Obama's speeches.
asahi.com（朝日新聞社）：Home, sweet home, where the gates stay locked - English
asahi.com（朝日新聞社）：Home, sweet home, where the gates stay locked - JAPAN: "For well-heeled Japanese fixated on security and social status, an exclusive residential development in the upmarket district of Ashiya, Hyogo Prefecture, offers a living experience unlike anywhere else in the country."
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And they "live in a country with one of the lowest crime rates in the OECD," which suggests that a lot of this is about physical isolation from those of lesser means.
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And they "live in a country with one of the lowest crime rates in the OECD," which suggests that a lot of this is about physical isolation from those of lesser means.
Monday, November 03, 2008
Election 2008 :: Karl Rove
Election 2008 :: Karl Rove: "The final Rove & Co. electoral map of the 2008 election cycle points to a 338-200 Barack Obama electoral vote victory over John McCain tomorrow, the largest electoral margin since 1996."
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The Evil One takes time away from tuning up his Hurricane Machine to predict an Obama landslide. I notice that he gives Florida, Virginia, Ohio, and Pennsylvania to Obama. The way I see the race, those are the key states. They add up to 81 electoral votes. McCain would have to win all of them to win the election with a bare 281 electoral votes (it takes 270 to win). I don't think that is possible, which is why I have been saying for a long time that Obama will win. But it would be quite a disaster for Republicans if McCain lost all of them, as Rove predicts. It could be closer than 338-200, especially if Obama's "bankrupt them" comments about the coal industry hurt him in PA.
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The Evil One takes time away from tuning up his Hurricane Machine to predict an Obama landslide. I notice that he gives Florida, Virginia, Ohio, and Pennsylvania to Obama. The way I see the race, those are the key states. They add up to 81 electoral votes. McCain would have to win all of them to win the election with a bare 281 electoral votes (it takes 270 to win). I don't think that is possible, which is why I have been saying for a long time that Obama will win. But it would be quite a disaster for Republicans if McCain lost all of them, as Rove predicts. It could be closer than 338-200, especially if Obama's "bankrupt them" comments about the coal industry hurt him in PA.
News : Colony's homeowners association files for bankruptcy protection : EUROPE : Culture & Arts
News : Colony's homeowners association files for bankruptcy protection : EUROPE : Culture & Arts: "The Colony Beach & Tennis Club's homeowner's association has filed for bankruptcy to shield itself from a $12 million lawsuit filed by the club's management for repairs and upgrades to the venerable resort."
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Homeowners more realistic about house values: "The Zillow 'Homeowner Confidence Survey,' released Wednesday, found that 49 percent of homeowners said they think their own home's value has increased or stayed the same over the past year. The report said nearly 74 percent of homes nationwide have lost value in the past 12 months.
The report also found that nationwide homeowners are not quite as confident as they were in the second quarter, when 62 percent said their homes either increased in value or remained the same."
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So our unrealistic expectations of our home's value are getting slightly less unrealistic.
Tonight at 10:00: Citizenship Test | Today's TMJ4 - Milwaukee, Wisconsin News, Weather, Sports, WTMJ | Local News
<b>Tonight at 10:00:</b> Citizenship Test | Today's TMJ4 - Milwaukee, Wisconsin News, Weather, Sports, WTMJ | Local News: "TODAY’S TMJ4’s John Mercure spent an afternoon at the mall, and was more than a little surprised at some of the answers he got.
John Mercure: “Can you name one state that borders Mexico?”
“Umm, Canada,” one woman said.
John Mercure: “What is the name of our National Anthem?”
“The Declaration of Independence?” one person said."
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Should have asked them the big followup: "How many times are you going to vote for Obama tomorrow?"
John Mercure: “Can you name one state that borders Mexico?”
“Umm, Canada,” one woman said.
John Mercure: “What is the name of our National Anthem?”
“The Declaration of Independence?” one person said."
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Should have asked them the big followup: "How many times are you going to vote for Obama tomorrow?"
Frozen mice cloned - are woolly mammoths next? | Science | Reuters
Frozen mice cloned - are woolly mammoths next? | Science | Reuters: "'There is hope in bringing Ted Williams back, after all,' cloning and stem cell expert John Gearhart of the University of Pennsylvania said in an e-mail. The family of Williams, the Boston Red Sox hitter, had his body frozen by cryogenics firm Alcor after he died in 2002. Gearhart was only half-joking and said the study 'may now stimulate the small industry of freezing parts of us before we die to bring us back in the future.'"
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I think cryogenic companies will be experiencing a boom tomorrow.
Hey, maybe the Republicans can bring back Ronald Reagan. Judging from what I hear on TV and radio, he's the only candidate they want.
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I think cryogenic companies will be experiencing a boom tomorrow.
Hey, maybe the Republicans can bring back Ronald Reagan. Judging from what I hear on TV and radio, he's the only candidate they want.
RON HART: Looking forward to being less productive : NewsHerald.com: "I really do not want to be that 'greedy' guy whom Obama so hates. 'Greedy,' loosely defined in Obamanomics, is 49 percent of voters. For the record, if you make $249,000 per year or less you are fine; somewhere around $250,000 and above, you are officially evil and he is coming after you. I want to appease the new administration and not be too productive. So, upon Obama's passing his new redistribution plan, I will slow my work schedule, lay off a few people (Obama's got their back) and let someone else bust his tail since I will now be able to get 'redistributed wealth' from those poor fools who are ambitious, energetic, work hard and have made good decisions."
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This column is funny, but the topic is serious. If Obama wins, I think a whole lot of wealthy individuals and businesses will be pulling back and waiting for a more favorable climate in Washington. Why take the risk of losing your money when, if you succeed, the gains will be more heavily taxed so the feds can "spread it around"? And with the guarantee of increased regulation, the chances of success are reduced or eliminated entirely. Obama made it pretty clear for the coal industry: build a coal fired power plant if you like, but the Obama Administration will see to it that you go bankrupt paying the penalties for the greenhouse gas emissions. The price of electricity will "skyrocket" under his policies, he says.
Should be an interesting four years for the business community, what with that target pinned to their chest.
Townhall.com::Blog
Did the Examiner bury the lede?: "Leaving these quotes buried in a fifty-three minute, 336MB video is not, in my own judgment, quite as bad as the Los Angeles Times' making (and then hiding behind) an unethical promise to a source not to release a videotape of another newsworthy event (the Khalidi dinner). But certainly when we see how the Chronicle's top writers and editors used such pathetic and compromised judgment in picking and choosing what to report as newsworthy from the Obama interview, the public has even more reason to doubt that the LA Times has been forthcoming, fair, and complete in its reporting on the videotape it's still concealing entirely."
Palin suggests Chronicle withheld Obama remarks
Palin suggests Chronicle withheld Obama remarks--Chronicle denies it: "John Diaz, editor of The Chronicle's editorial pages, said the paper not only posted the entire audio and video of the Obama interview, but promoted it to readers.
'How can anyone suggest that we hid an interview that we did, immediately put up on the Web - and advertised to our readers?' said Diaz. 'We promoted it like hell ... and I'm sure the Clinton campaign and the McCain campaign scrubbed it. You can still find the whole 48 minutes and 33 seconds online.'"
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This is one of those "dog that didn't bark" situations, I guess. If it was there, why did neither Clinton nor McCain make something of it? Strange.
'How can anyone suggest that we hid an interview that we did, immediately put up on the Web - and advertised to our readers?' said Diaz. 'We promoted it like hell ... and I'm sure the Clinton campaign and the McCain campaign scrubbed it. You can still find the whole 48 minutes and 33 seconds online.'"
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This is one of those "dog that didn't bark" situations, I guess. If it was there, why did neither Clinton nor McCain make something of it? Strange.
What We Know About Obama by Stanley Kurtz on National Review Online
What We Know About Obama by Stanley Kurtz on National Review Online: "Reflecting on all that I’ve written about Barack Obama over these past six months, four inter-related points stand out: Obama’s radicalism, his stealthy incrementalism, his interest in funding and organization-building, and his willingness to use — or quietly support — Alinskyite intimidation tactics. Since we stand on the cusp of the election, I’ll lay out the bottom line. For those who want to know more, go back and read the detailed studies on which I base these conclusions."
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Kurtz has done a series of detailed and carefully-researched pieces on Obama. This one is a summary.
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Kurtz has done a series of detailed and carefully-researched pieces on Obama. This one is a summary.
STEALING AN ELECTION - New York Post: "WHETHER or not Barack Obama wins election tomorrow, his campaign has exposed some gaping weaknesses in the electoral process - and some even more serious problems with today's mass media."
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Instapundit strikes.
Sunday, November 02, 2008
Bank of America agrees to halt 2,000 foreclosures in the Valley
Bank of America agrees to halt 2,000 foreclosures in the Phoenix area: "Last month, BofA agreed to modify loans for struggling borrowers if attorneys general from Arizona, Texas, Ohio, Iowa and Washington halted legal action against Countrywide. That action is based on the lender's 'alleged use of deceptive practices' in its mortgage-lending business, according to Goddard. The deal requires BofA to place a temporary hold on foreclosures on loans made up until the end of 2007 and work with buyers to make their mortgage payments more affordable so they have the option of staying in their homes."
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I'm sure these 2000 owners (and the 11,000 coming later) didn't do anything wrong, like give false information on their mortgage applications about their income, or buy way beyond their means, or anything like that.
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I'm sure these 2000 owners (and the 11,000 coming later) didn't do anything wrong, like give false information on their mortgage applications about their income, or buy way beyond their means, or anything like that.
Appeals court rules against Hillsmere association - Annapolis - (HometownAnnapolis.com)
Appeals court rules against Hillsmere association in adverse possession case- Annapolis - (HometownAnnapolis.com): "The swath of land at issue, which ranges from 8- to 80 feet wide, goes from the main beach to a marina, and passes behind 17 homes. It originally was community property, but over the years the homeowners living next to it have put up fences and hedges to protect their privacy. They also have installed bulkheads to stop erosion.The homeowners association overlooked those construction projects until 2002, when a homeowner built a pier, despite the association's objections. That brought the dispute to a head, resulting in the lawsuit. Five Hillsmere residents - Gregory and Susan Singleton, Parviz Sahandy and Edward and Leah Hertz - said the homeowners association had waived its rights to the property, and that they now own the land that stretched between their homes and the water."
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Fred Pilot sent along this report of an unusual appellate court decision where owners acquired common area by adverse possession.
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Fred Pilot sent along this report of an unusual appellate court decision where owners acquired common area by adverse possession.
'My Heart and My Values Didn't Change'
'My Heart and My Values Didn't Change': "In Bush, Loyalists See a Good and Steadfast Man Who Has Gotten a Bad Rap"
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In other news, there are Bush loyalists.
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In other news, there are Bush loyalists.
Hidden Audio: Obama Tells SF Chronicle He Will Bankrupt Coal Industry | NewsBusters.org
Hidden Audio: Obama Tells SF Chronicle He Will Bankrupt Coal Industry | NewsBusters.org: "So if somebody wants to build a coal-powered plant, they can; it's just that it will bankrupt them because they're going to be charged a huge sum for all that greenhouse gas that's being emitted."
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He said this in January, and he said it to something that calls itself a major newspaper, and it somehow stays hidden until two days before the election.
Think this would have made a difference in Pennsylvania?
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He said this in January, and he said it to something that calls itself a major newspaper, and it somehow stays hidden until two days before the election.
Think this would have made a difference in Pennsylvania?
Austerity style: Men of Britain, put down your hair gel - Features, Fashion - The Independent: "Of all the many effects of the current global economic meltdown – the plunge in property prices, inflation, rising unemployment – perhaps the greatest change will be in attitudes and, as a result, in behaviour. For men, this change could even be epochal: we may be witnessing a return to the virtues and values of an earlier generation. No one – no one sensible – would advocate a regression to the days when men were men, women were downtrodden and children were terrified, but perhaps, in tough times, some stiffening of masculine sinew is required. Maybe it's time to put some hair back on the nation's chest. Perhaps the word 'product' will once again indicate something we make, rather than something we wear in our hair."
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Don't hold your breath.
San Pablo's funding gamble pays off - ContraCostaTimes.com
San Pablo's funding gamble pays off - ContraCostaTimes.com: "SAN PABLO — They're raising fees in Walnut Creek, sapping reserves in Antioch and San Leandro, slashing jobs in Oakland, Hayward and San Mateo, shaving mental health services in Berkeley and mulling rolling 'brownouts' at fire stations in Alameda. The mounting loss of sales and property tax revenues has forced painful choices upon cities and counties across the East Bay. Yet one city barely feels the pinch. In San Pablo, home to some of the East Bay's poorest households and highest unemployment, City Hall sits high-and-dry amid a raging fiscal storm. Here, tax revenue takes a back seat to a far different budget model: Jackpot economics. Nearly a decade ago, the city hitched its fate to Indian gaming in a controversial pact with the Lytton Band of Pomo Indians that is now paying big dividends."
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Gee, there's an improvement. Instead of taxpayers getting the bill, the city gets a cut of gambling losses.
Thanks to Fred Pilot for the link.
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Gee, there's an improvement. Instead of taxpayers getting the bill, the city gets a cut of gambling losses.
Thanks to Fred Pilot for the link.
Pantagraph.com | News | Banks asking for credit card debt forgiveness: "Americans are lumbering under about $900 billion in credit card debt, according to the latest available Federal Reserve figures. People who are in credit counseling, on average, carry seven cards. Many of the people now having trouble making their credit card payments are in a double or triple whammy: their mortgages or car loans also may be under stress. And for many, the torrent of envelopes bearing credit card offers at low initial rates - much like the old 'teaser' rates on subprime mortgages - has recently been replaced by more somber notices of crimped credit lines, hikes in interest rates or even accounts being closed as lenders tighten the reins to reduce their risk. The new proposal pitched to federal regulators by the Financial Services Roundtable, which represents more than 100 big banks and other financial companies, and the Consumer Federation of America, would allow lenders to reduce by as much as 40 percent the amount of credit card debt owed by deeply indebted consumers in a pilot program."
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Great. Now these folks will race out and charge more stuff.
Thanks to Fred Pilot for this link and the two that follow.
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Great. Now these folks will race out and charge more stuff.
Thanks to Fred Pilot for this link and the two that follow.
Gambling Capital Is Flush With Empty Houses - washingtonpost.com
Gambling Capital Is Flush With Empty Houses - washingtonpost.com: "LAS VEGAS There are 6 million empty homes in the United States. Or 6.2 million, to be slightly more precise."
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There are ghost towns being born all over, many of them with ghost HOAs.
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There are ghost towns being born all over, many of them with ghost HOAs.
Task force targets home buyers, brokers who lied on mortgage applications - ContraCostaTimes.com
Task force targets home buyers, brokers who lied on mortgage applications - ContraCostaTimes.com: "A law enforcement task force is investigating thousands of Bay Area homeowners, mortgage agents, investors and others who may have committed mortgage fraud, the latest fallout from a housing bubble that wrecked the finances of countless people.
Federal, state, and local investigators who make up the 30-member task force have begun to probe as many as 11,000 cases involving people who may have committed fraud during the residential real estate frenzy, said Assistant U.S. Attorney Susan Badger. She heads the task force on behalf of the U.S. attorney's office in San Francisco.
Some local mortgage agents say at least one-third — and perhaps one-half — of the home loans that were written in the East Bay at the height of the housing bubble were loans with fraudulent documentation about income and debt of borrowers."
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Well, incarceration was the fitting end to the Enron, Worldcom, etc., corporate financial scandals of six years ago. Why not lock up some of these mortgage crooks, including the owners? They need a place to live anyway.
Federal, state, and local investigators who make up the 30-member task force have begun to probe as many as 11,000 cases involving people who may have committed fraud during the residential real estate frenzy, said Assistant U.S. Attorney Susan Badger. She heads the task force on behalf of the U.S. attorney's office in San Francisco.
Some local mortgage agents say at least one-third — and perhaps one-half — of the home loans that were written in the East Bay at the height of the housing bubble were loans with fraudulent documentation about income and debt of borrowers."
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Well, incarceration was the fitting end to the Enron, Worldcom, etc., corporate financial scandals of six years ago. Why not lock up some of these mortgage crooks, including the owners? They need a place to live anyway.
News 8 :: KFMB Stations, San Diego, California
Chain lady has a history?: "Fifty-four-year-old June Reyno has spent the last three days chained to her front porch, saying she won't give in and lose her home to foreclosure. But documents show this isn't the first, second or even the third time she's lost a piece of property because she's defaulted on her loan.
'We actually only have the one home left,' said Reyno.
Fifty eight documents over three years. They're public records that show Reyno has been buying, selling, renting and defaulting on payments for properties throughout Riverside County."
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Somebody gave the press the full story and they printed it for a change. Refreshing.
'We actually only have the one home left,' said Reyno.
Fifty eight documents over three years. They're public records that show Reyno has been buying, selling, renting and defaulting on payments for properties throughout Riverside County."
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Somebody gave the press the full story and they printed it for a change. Refreshing.
Saturday, November 01, 2008
Daley's plan to charge for dumpsters dumped on :: CHICAGO SUN-TIMES :: Politics
Daley's plan to charge for dumpsters dumped on :: CHICAGO SUN-TIMES :: Politics: "Business groups, condominium associations and aldermen on Friday dumped all over Mayor Daley's plan to charge an annual fee as high as $300 for every one of their garbage dumpsters.
Daley wants to raise up to $9 million during part of 2009 — and at least $25 million in subsequent years — by requiring businesses and condo associations to buy annual permits for their over-sized garbage containers."
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Another distinction for Chicago, to go with the highest sales tax in the nation. And the highest murder rate. And the harshest gun ban. And the crookedest city and county and state governments. Not that any of these are related. Just saying.
Daley wants to raise up to $9 million during part of 2009 — and at least $25 million in subsequent years — by requiring businesses and condo associations to buy annual permits for their over-sized garbage containers."
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Another distinction for Chicago, to go with the highest sales tax in the nation. And the highest murder rate. And the harshest gun ban. And the crookedest city and county and state governments. Not that any of these are related. Just saying.
toledoblade.com -- Media in the tank for Obama
toledoblade.com -- Media in the tank for Obama: "'After all this time with him, I still can't say with certainty who he is,' wrote Peter Nicholas of the Los Angeles Times on Tuesday about Mr. Obama, with whom he's spent roughly 18 hours a day for most of this campaign."
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Jack Kelly's headline, not mine. What astounds me is that some intelligent Obambites try to feebly argue that the media is not in the tank for The One. But as Madison said in Federalist No. 10, our reason is always in the service of our self interest, and that's just human nature.
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Jack Kelly's headline, not mine. What astounds me is that some intelligent Obambites try to feebly argue that the media is not in the tank for The One. But as Madison said in Federalist No. 10, our reason is always in the service of our self interest, and that's just human nature.
McCain, the battle-scarred warrior, fights on
McCain, the battle-scarred warrior, fights on: "Hopelessness, McCain says on the campaign trail, is 'an enemy who defeats your will.' 'I felt those things once before,' he says of his years in Vietnam. 'I will never let them in again.'"
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He may not have made all the decisions right in this campaign, but nobody can ever question his heart. This is a man who practically defines the word "indomitable."
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He may not have made all the decisions right in this campaign, but nobody can ever question his heart. This is a man who practically defines the word "indomitable."
6 states=60% of those who are upside down: "Here's a shocker: almost half of Nevada homeowners with a mortgage owe more to the bank than their homes are worth. Here's another: If you add in the homeowners like them in California, Arizona, Florida, Georgia and Michigan, together they account for nearly 60 percent of all homeowners who are ``underwater'' on their mortgages. Nationwide, almost one out of every five homeowners with a mortgage owes more to their lender than their properties are worth. According to a report released Friday by First American CoreLogic, if you subtract those states, the rate drops to about one in 10."
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And what percentage of those who are underwater are swimming in common interest housing's pool? The article goes on to quote Dr. Doom, Nourel Roubini, as saying that by the time the housing market bottoms out (you mean it hasn't, yet?), 40% of all owners will be upside down.
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And what percentage of those who are underwater are swimming in common interest housing's pool? The article goes on to quote Dr. Doom, Nourel Roubini, as saying that by the time the housing market bottoms out (you mean it hasn't, yet?), 40% of all owners will be upside down.
FIRE - FIRE Launches New Journal, ‘The Lantern,’ on Anniversary of University of Delaware Thought Reform Case
FIRE - FIRE Launches New Journal, ‘The Lantern,’ on Anniversary of University of Delaware Thought Reform Case: "FIRE is proud to announce the forthcoming debut of The Lantern: The Journal of the Foundation for Individual Rights in Education, FIRE's newest publication. The first issue of The Lantern will feature a comprehensive article on the indoctrination program implemented in 2007 by the University of Delaware's Office of Residence Life, which used mandatory activities to coerce students to change their thoughts, values, attitudes, beliefs, and habits to conform to a highly specified social, environmental, and political agenda. The article explains the program's invasive thought-reform activities, the horrified reactions of students and the press, and FIRE's response one year ago this week."
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The Foundation for Individual Rights in Education has taken on numerous universities and colleges where freedom of expression and belief were under attack. If the public really understood what goes on in academia they would be outraged, but most of what happens in academia stays in academia.
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The Foundation for Individual Rights in Education has taken on numerous universities and colleges where freedom of expression and belief were under attack. If the public really understood what goes on in academia they would be outraged, but most of what happens in academia stays in academia.
Upsurge of West Nile virus linked to foreclosures, study finds - Los Angeles Times
Upsurge of West Nile virus linked to foreclosures, study finds - Los Angeles Times: "One of the nation's worst-hit cities for foreclosures in 2007 -- Bakersfield -- became an epicenter of West Nile virus that year largely because of mosquitoes breeding in abandoned swimming pools, UC Davis and Kern County scientists reported Thursday.
The Central Valley city had 140 diagnosed cases, up from 51 in 2006, or a 275% increase. Over the same period, mortgage delinquency notices went up by 300%.
Since the mortgage crisis began, public health officials throughout the state, particularly in Southern California, have complained that neglected pools are contributing to West Nile infections."
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Associations are imploding, and so far that issue has not had much coverage from the press. Maybe spreading West Nile will get people's attention. Thanks to Fred Pilot for the link.
The Central Valley city had 140 diagnosed cases, up from 51 in 2006, or a 275% increase. Over the same period, mortgage delinquency notices went up by 300%.
Since the mortgage crisis began, public health officials throughout the state, particularly in Southern California, have complained that neglected pools are contributing to West Nile infections."
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Associations are imploding, and so far that issue has not had much coverage from the press. Maybe spreading West Nile will get people's attention. Thanks to Fred Pilot for the link.
Friday, October 31, 2008
Daily Business Review: News Item
Daily Business Review: News Item: "A surge in municipal bond defaults has combined with problems among bond insurers and the bankruptcy of investment banking giant Lehman Brothers to make public sector finance more cumbersome.
Municipal bond defaults across the nation jumped from January through September to $2.44 billion from $324 million for all of last year, said Richard Lehmann, president of Miami Lakes-based Income Securities Advisor.
Lehmann said the widespread credit crunch could expose weaknesses on municipal balance sheets including “horrendous unfunded pension liabilities that states and municipalities have incurred over that last 10, 20 years that they don’t have the means to pay.”"
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This site requires registration.
Municipal bond defaults across the nation jumped from January through September to $2.44 billion from $324 million for all of last year, said Richard Lehmann, president of Miami Lakes-based Income Securities Advisor.
Lehmann said the widespread credit crunch could expose weaknesses on municipal balance sheets including “horrendous unfunded pension liabilities that states and municipalities have incurred over that last 10, 20 years that they don’t have the means to pay.”"
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This site requires registration.
Struggling IndyMac borrowers may be in the dark about offer to lower their mortgage payments - Los Angeles Times
Struggling IndyMac borrowers may be in the dark about offer to lower their mortgage payments - Los Angeles Times: "The Federal Deposit Insurance Corp.'s program to lower loan payments for struggling borrowers with mortgages from IndyMac Bank has been lauded by consumer advocates and government leaders as a model of foreclosure prevention.
But when the FDIC, which is running IndyMac, mailed out 35,000 letters offering homeowners a chance to rework the terms of their mortgages, more than half the borrowers were apparently so discouraged, scared or stressed out that they didn't bother to respond."
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You have to love the media. Look at the helpful excuses they offer as the only possible explanations: they were "discouraged, scared, or stressed out."
I could add one or two to that list, but they would have a bit of a critical edge. Things like intelligence, a sense of personal responsibility, opening your mail...old fashioned notions like that.
But when the FDIC, which is running IndyMac, mailed out 35,000 letters offering homeowners a chance to rework the terms of their mortgages, more than half the borrowers were apparently so discouraged, scared or stressed out that they didn't bother to respond."
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You have to love the media. Look at the helpful excuses they offer as the only possible explanations: they were "discouraged, scared, or stressed out."
I could add one or two to that list, but they would have a bit of a critical edge. Things like intelligence, a sense of personal responsibility, opening your mail...old fashioned notions like that.
Jonathan Martin's Blog: Conservatives plan secret post-election strategy session - Politico.com
Jonathan Martin's Blog: Conservatives plan secret post-election strategy session - Politico.com: "Two days after next week's election, top conservatives will gather at the Virginia weekend home of one of the movement's most prominent members to begin a conversation about their role in the GOP and how best to revive a party that may be out of power at both ends of Pennsylvania Avenue next year."
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I have some suggestions for that meeting:
1. Resolve that nobody with the name "Bush" will ever be nominated by the party to serve in any executive, legislative, or judicial capacity.
2. Develop foreign policies that are not based on the world as it was in 1980.
3. Develop economic policies that are not based on the world as it was in 1880.
4. Develop social policies that are not based on the world as it was in 1780.
That should get them off to a good start.
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I have some suggestions for that meeting:
1. Resolve that nobody with the name "Bush" will ever be nominated by the party to serve in any executive, legislative, or judicial capacity.
2. Develop foreign policies that are not based on the world as it was in 1980.
3. Develop economic policies that are not based on the world as it was in 1880.
4. Develop social policies that are not based on the world as it was in 1780.
That should get them off to a good start.
Pajamas Media » Ask Dr. Helen: Is It Time to ‘Go John Galt’?
Pajamas Media » Ask Dr. Helen: Is It Time to ‘Go John Galt’?"Do you ever wonder after dealing with all that is going on with the economy and the upcoming election if it’s getting to be time to “go John Galt”? For those of you who have never read Ayn Rand’s Atlas Shrugged, the basic theme is that John Galt and his allies take actions that include withdrawing their talents, “stopping the motor of the world,” and leading the “strikers” (those who refuse to be exploited) against the “looters” (the exploiters, backed by the government)."
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That dynamic is already at work. The stock market reflects a fear that Obama will be elected. One thing is certain. Obama/Pelosi/Reid will not succeed in taxing the living daylights out of the upper 5% of the income distribution and giving everybody else a tax break, while expanding federal spending on health care, education, food stamps, etc., etc. That just won't happen. The rich won't sit around letting their money be taken. They will put it where the Democrats can't get it. The middle class, however, lacks those options and will get soaked for the cost of trying to turn the US into Sweden, if that's what comes own the pike. Maybe the Democrats will rethink their policies once they control everything.
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That dynamic is already at work. The stock market reflects a fear that Obama will be elected. One thing is certain. Obama/Pelosi/Reid will not succeed in taxing the living daylights out of the upper 5% of the income distribution and giving everybody else a tax break, while expanding federal spending on health care, education, food stamps, etc., etc. That just won't happen. The rich won't sit around letting their money be taken. They will put it where the Democrats can't get it. The middle class, however, lacks those options and will get soaked for the cost of trying to turn the US into Sweden, if that's what comes own the pike. Maybe the Democrats will rethink their policies once they control everything.
Almost 10 million homeowners are 'underwater' or just above - Oct. 31, 2008: "NEW YORK (CNNMoney.com) -- At least 7.5 million Americans owe more on their mortgages than their homes are currently worth, according to a real estate research firm's report released Friday. In other words: If they sold their homes today, they'd have to bring a check to the closing. Ouch. Another 2.1 million people stand right on the brink, according to the report by First American CoreLogic. Their homes are worth less than 5% more than the mortgages they're paying on them."
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Nevada: 48%. Michigan: 39%. And the list goes on.
Thursday, October 30, 2008
TG Daily - MIT scientists baffled by global warming theory, contradicts scientific data
TG Daily - MIT scientists baffled by global warming theory, contradicts scientific data: "Boston (MA) - Scientists at MIT have recorded a nearly simultaneous world-wide increase in methane levels. This is the first increase in ten years, and what baffles science is that this data contradicts theories stating man is the primary source of increase for this greenhouse gas. It takes about one full year for gases generated in the highly industrial northern hemisphere to cycle through and reach the southern hemisphere. However, since all worldwide levels rose simultaneously throughout the same year, it is now believed this may be part of a natural cycle in mother nature - and not the direct result of man's contributions."
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Perhaps Al Gore is the source of all this natural methane. Just a thought.
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Perhaps Al Gore is the source of all this natural methane. Just a thought.
The Lawyers Who May Run America | ABA Journal - Law News Now
The Lawyers Who May Run America | ABA Journal - Law News Now
List of attorneys who Obama would likely appoint to run many federal agencies and the USSC. Interesting reading. Scroll to the bottom for a link to the ones McCain would appoint if he were to pull off the biggest upset in the history of presidential elections.
List of attorneys who Obama would likely appoint to run many federal agencies and the USSC. Interesting reading. Scroll to the bottom for a link to the ones McCain would appoint if he were to pull off the biggest upset in the history of presidential elections.
Found in a rundown Boston estate: Barack Obama’s aunt Zeituni Onyango - Times Online: "Zeituni Onyango, the aunt so affectionately described in Mr Obama’s best-selling memoir Dreams from My Father, lives in a disabled-access flat on a rundown public housing estate in South Boston. A second relative believed to be the long-lost “Uncle Omar” described in the book was beaten by armed robbers with a “sawed-off rifle” while working in a corner shop in the Dorchester area of the city. He was later evicted from his one-bedroom flat for failing to pay $2,324.20 (£1,488) arrears, according to the Boston Housing Court."
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I guess he's too busy taking care of those people in his infomercial last night. I tried to order a George Foreman grill but the lines were busy.
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I guess he's too busy taking care of those people in his infomercial last night. I tried to order a George Foreman grill but the lines were busy.
Wednesday, October 29, 2008
Snow blankets London for Global Warming debate • The Register
Snow blankets London for Global Warming debate • The Register: "Snow fell as the House of Commons debated Global Warming yesterday - the first October fall in the metropolis since 1922. The Mother of Parliaments was discussing the Mother of All Bills for the last time, in a marathon six hour session.
In order to combat a projected two degree centigrade rise in global temperature, the Climate Change Bill pledges the UK to reduce its carbon dioxide emissions by 80 per cent by 2050."
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You can't make this up.
In order to combat a projected two degree centigrade rise in global temperature, the Climate Change Bill pledges the UK to reduce its carbon dioxide emissions by 80 per cent by 2050."
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You can't make this up.
The 10 worst presidents to have held office - The Times US presidential rankings - Times Online
The 10 worst presidents to have held office - The Times US presidential rankings - Times Online
They have W at #37 out of 42, behind Warren Harding and Herbert Hoover. Ow.
They have W at #37 out of 42, behind Warren Harding and Herbert Hoover. Ow.
Conservatives say Bush and McCain destroyed Republican Party | Countdown to Crawford | Los Angeles Times
Conservatives say Bush and McCain destroyed Republican Party | Countdown to Crawford | Los Angeles Times
The recriminations are well under way. This can be made complicated or simple. The simple version is that the Republicans were once regarded as solid on the economy and on foreign policy and now all that is gone. After 12 years of Republicans controlling Congress, they were out. After 8 years of Bush, they are probably about to be out. They are now regarded as profligate spenders who wrecked the world's strongest economy, they have the corruption label on their foreheads (add Ted Stevens now), and they are now seen as failures in foreign policy.
It isn't Bush or McCain alone, but this entire party is in serious trouble from top to bottom and coast to coast, and the word "destroyed" may not be much of an exaggeration. Bush has, in truth, taken his party down hard, but he had a lot of help from the Republican Congress.
In their most optimistic moments they seem to be hoping the Democrats turn out to be even worse when they are in total control of the national government. I think getting your own act together may be a better plan.
The recriminations are well under way. This can be made complicated or simple. The simple version is that the Republicans were once regarded as solid on the economy and on foreign policy and now all that is gone. After 12 years of Republicans controlling Congress, they were out. After 8 years of Bush, they are probably about to be out. They are now regarded as profligate spenders who wrecked the world's strongest economy, they have the corruption label on their foreheads (add Ted Stevens now), and they are now seen as failures in foreign policy.
It isn't Bush or McCain alone, but this entire party is in serious trouble from top to bottom and coast to coast, and the word "destroyed" may not be much of an exaggeration. Bush has, in truth, taken his party down hard, but he had a lot of help from the Republican Congress.
In their most optimistic moments they seem to be hoping the Democrats turn out to be even worse when they are in total control of the national government. I think getting your own act together may be a better plan.
Woman in Chains Fights Eviction | NBC San Diego: "June Reyno, her husband and their five dogs have lived in their Mira Mesa home for nearly 20 years. Now, they are being evicted, but June Reyno is not having it.
She's defying the eviction by chaining herself to her home.
The San Diego Sheriff's Department is expected to come out to the Reyno's home sometime Monday or Tuesday. Reyno said she will remain chained to her home until 'the California State Legislature elected officials respond to these massive evictions and foreclosures that are going on in our county.'"
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These folks have an ARM and the payments are now...drum roll...$5800 per month. Two points. First, how can you live in a house for 20 years and be paying $5800 per month? How could you not be in a nice 5% 30 year loan by now instead of a nasty ARM? Second, to afford payments like that you would need an income of at least $300,000 per year. Something here doesn't make sense.
She's defying the eviction by chaining herself to her home.
The San Diego Sheriff's Department is expected to come out to the Reyno's home sometime Monday or Tuesday. Reyno said she will remain chained to her home until 'the California State Legislature elected officials respond to these massive evictions and foreclosures that are going on in our county.'"
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These folks have an ARM and the payments are now...drum roll...$5800 per month. Two points. First, how can you live in a house for 20 years and be paying $5800 per month? How could you not be in a nice 5% 30 year loan by now instead of a nasty ARM? Second, to afford payments like that you would need an income of at least $300,000 per year. Something here doesn't make sense.
Local News | Developer suggests sex emporium for Olympia | Seattle Times Newspaper
Local News | Developer suggests sex emporium for Olympia | Seattle Times Newspaper: "OLYMPIA — A developer says if he can't build a new grocery store in Olympia he'll build a sex emporium on the site."
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Hey, maybe this will turn out to be a more popular development idea than the grocery store.
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Hey, maybe this will turn out to be a more popular development idea than the grocery store.
Obama's 'Redistribution' Constitution - WSJ.com
Obama's 'Redistribution' Constitution - WSJ.com: "On the Supreme Court, six of the current nine justices will be 70 years old or older on January 20, 2009. There is a widespread expectation that the next president could make four appointments in just his first term, with maybe two more in a second term. Here too we are poised for heavy change.
These numbers ought to raise serious concern because of Mr. Obama's extreme left-wing views about the role of judges. He believes -- and he is quite open about this -- that judges ought to decide cases in light of the empathy they ought to feel for the little guy in any lawsuit."
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I guess this must be what the nation wants, because if you are paying any attention at all you know this.
These numbers ought to raise serious concern because of Mr. Obama's extreme left-wing views about the role of judges. He believes -- and he is quite open about this -- that judges ought to decide cases in light of the empathy they ought to feel for the little guy in any lawsuit."
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I guess this must be what the nation wants, because if you are paying any attention at all you know this.
Obama Accepting Untraceable Donations
The way things look at this point, the political weather forecast is a 95% chance of an Obama victory, followed by a major depression accompanied by accusations of campaign finance violations and voter fraud. Hard to see past that, due to heavy cloud cover over Obama's intentions, but the winds blowing from Congress are coming from the extreme left.
For what it's worth, here is my take on the election. The Republican Party as a whole has lost this election on the economy. It isn't Bush, McCain, or the voters alone--it is all of them. The party in the electorate (the voters), the party in government (the Bush administration), and the party's nominee and his campaign are collectively the reason they are losing the election for lack of apparent concern about the economy.
The voters nominated somebody who confesses he knows nothing about economics and thinks that is funny rather than shocking, and he has proved it. McCain ran mainly on foreign policy, and he won the nomination because the conservative base split between the religious conservatives who wanted Huckabee and the economic conservatives who wanted Romney. So the result was a choice who didn't inspire either group, and who had to gin up his disappointed base. McCain tried to shore up the religious right by taking Palin over Romney, who he dislikes and who would have alienated religious bigots. So that was two chances the party had to show some concern for the economy by putting Romney on the ticket. But both the top and bottom of the ticket went elsewhere: to all these voters who think morality and religion issues are paramount (Palin), and to those who are big on McCain's hawkish foreign policy. So, the voters said, the economy be damned.
Bush failed to anticipate the economic meltdown or prepare the nation for it. Maybe he thought it would happen after the election. Instead of handling this problem responsibly and with an eye to the future, he went on TV and freaked out a month before the election. He scared the living crap out of the country so he could get his $700 billion bailout passed on an emergency basis, without careful examination of the consequences. Sound familiar? That seems to be the only way he can do anything.
The election was probably lost for the Republicans on that day. But the final straw was when McCain first said the fundamentals of the economy were sound, and then almost immediately switched to saying the world is ending. He then proceeded with the debacle of suspending his campaign, canceling the debate, letting the Democrats make a fool of him in Washington, going to the debate, and then rebranding his candidacy as the Anti-Obama Campaign. How can anybody feel confident in McCain as the president to get us through this economic crisis after that performance?
At this point the electorate is focused on the economy like a laser beam and they are not happy. They are scared and angry. They want to vote for a better economy, and that means doing something different. Their choices are:
1. Obama, who has been hammering the economy as a main campaign theme for a year and a half, versus
2. McCain, who brings a hard-line foreign policy, a VP who is dearly loved by the religious right, and a campaign that is heavily focused on his opponent's past associations with leftists. His campaign lacks any consistent, high-profile, positive, economic policy theme--at least, one that distinguishes him from "the failed policies of the Bush Administration."
Add to that the fact that the major media folks are working overtime to protect Obama from McCain's criticisms and you have the makings of a Republican debacle on Tuesday.
But make no mistake: the Republicans should not blame the media or fraud for what looks like an impending electoral catastrophe. The Republican party, in all its aspects, has only itself to blame.
The way things look at this point, the political weather forecast is a 95% chance of an Obama victory, followed by a major depression accompanied by accusations of campaign finance violations and voter fraud. Hard to see past that, due to heavy cloud cover over Obama's intentions, but the winds blowing from Congress are coming from the extreme left.
For what it's worth, here is my take on the election. The Republican Party as a whole has lost this election on the economy. It isn't Bush, McCain, or the voters alone--it is all of them. The party in the electorate (the voters), the party in government (the Bush administration), and the party's nominee and his campaign are collectively the reason they are losing the election for lack of apparent concern about the economy.
The voters nominated somebody who confesses he knows nothing about economics and thinks that is funny rather than shocking, and he has proved it. McCain ran mainly on foreign policy, and he won the nomination because the conservative base split between the religious conservatives who wanted Huckabee and the economic conservatives who wanted Romney. So the result was a choice who didn't inspire either group, and who had to gin up his disappointed base. McCain tried to shore up the religious right by taking Palin over Romney, who he dislikes and who would have alienated religious bigots. So that was two chances the party had to show some concern for the economy by putting Romney on the ticket. But both the top and bottom of the ticket went elsewhere: to all these voters who think morality and religion issues are paramount (Palin), and to those who are big on McCain's hawkish foreign policy. So, the voters said, the economy be damned.
Bush failed to anticipate the economic meltdown or prepare the nation for it. Maybe he thought it would happen after the election. Instead of handling this problem responsibly and with an eye to the future, he went on TV and freaked out a month before the election. He scared the living crap out of the country so he could get his $700 billion bailout passed on an emergency basis, without careful examination of the consequences. Sound familiar? That seems to be the only way he can do anything.
The election was probably lost for the Republicans on that day. But the final straw was when McCain first said the fundamentals of the economy were sound, and then almost immediately switched to saying the world is ending. He then proceeded with the debacle of suspending his campaign, canceling the debate, letting the Democrats make a fool of him in Washington, going to the debate, and then rebranding his candidacy as the Anti-Obama Campaign. How can anybody feel confident in McCain as the president to get us through this economic crisis after that performance?
At this point the electorate is focused on the economy like a laser beam and they are not happy. They are scared and angry. They want to vote for a better economy, and that means doing something different. Their choices are:
1. Obama, who has been hammering the economy as a main campaign theme for a year and a half, versus
2. McCain, who brings a hard-line foreign policy, a VP who is dearly loved by the religious right, and a campaign that is heavily focused on his opponent's past associations with leftists. His campaign lacks any consistent, high-profile, positive, economic policy theme--at least, one that distinguishes him from "the failed policies of the Bush Administration."
Add to that the fact that the major media folks are working overtime to protect Obama from McCain's criticisms and you have the makings of a Republican debacle on Tuesday.
But make no mistake: the Republicans should not blame the media or fraud for what looks like an impending electoral catastrophe. The Republican party, in all its aspects, has only itself to blame.
Tuesday, October 28, 2008
Riley: Feds should back JeffCo on efforts to avoid bankruptcy - Business News from The Birmingham News - al.com: "Gov. Bob Riley told Birmingham business leaders today that Uncle Sam should provide a financial backstop for Jefferson County's efforts to restructure or refinance its sewer debt, preventing the nation's largest ever municipal bankruptcy filing."
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Moving forward in the bailout conga line?
Home Value Highwire
Home Value Highwire: "GAITHERSBURG, Md. - A Maryland woman is among the thousands of people losing their homes to foreclosure. But she's actually using the situation to her advantage. While she foreclosed a couple of years ago, she's still living in the home - and paying nothing"
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She's been living in this $400,000 home for 42 months and hasn't paid a dime on the mortgage. She expects to drag it out another month or so before Wells Fargo gets her butt out. It was a no-document loan. She was making less than $32,000 per year.
She says, "It just means that I'm smart."
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She's been living in this $400,000 home for 42 months and hasn't paid a dime on the mortgage. She expects to drag it out another month or so before Wells Fargo gets her butt out. It was a no-document loan. She was making less than $32,000 per year.
She says, "It just means that I'm smart."
Some first-time home buyers say market is just right | HamptonRoads.com | PilotOnline.com
Some first-time home buyers say market is just right | HamptonRoads.com | PilotOnline.com: "Despite the housing downturn and recent turmoil in the financial and credit markets, some first-time home buyers have forged ahead, hoping to take advantage of a combination of favorable factors: plenty of available homes, relatively low interest rates and falling prices that are making homes more affordable."
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Wait, what?
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Wait, what?
'Good Samaritan' saves crying woman's foreclosed home - CNN.com
'Good Samaritan' saves crying woman's foreclosed home - CNN.com
Don't miss this one. Marilyn Mock, first rate human being.
Don't miss this one. Marilyn Mock, first rate human being.
Goodbye gov? :: CHICAGO SUN-TIMES :: Michael Sneed
Goodbye gov? :: CHICAGO SUN-TIMES :: Michael Sneed: "Sneed hears a plan is afoot to impeach Gov. Blagojevich following the presidential election next month. Word is the votes are there. Stay tuned."
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His job approval rating was 13% last week. I can't imagine that 13 out of every 100 Illinois residents are that stupid, but there you go. It would be fun to have a post-election impeachment just to get us over campaign withdrawal syndrome. And Blagojevich has more than earned an impeachment trial. He is the worst governor I have ever seen. The state is in a complete shambles.
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His job approval rating was 13% last week. I can't imagine that 13 out of every 100 Illinois residents are that stupid, but there you go. It would be fun to have a post-election impeachment just to get us over campaign withdrawal syndrome. And Blagojevich has more than earned an impeachment trial. He is the worst governor I have ever seen. The state is in a complete shambles.
The Columbus Dispatch : Judge rules Ohio homeless voters may list park benches as addresses
The Columbus Dispatch : Judge rules Ohio homeless voters may list park benches as addresses: "COLUMBUS, Ohio (AP) - A federal judge in Ohio has ruled that counties must allow homeless voters to list park benches and other locations that aren't buildings as their addresses. U.S. District Judge Edmund Sargus also ruled that provisional ballots can't be invalidated because of poll worker errors."
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But there is no way to validate an "address" like that. Utility bill, state ID, all that antiquated kind of stuff. That's because here on Earth, people are supposed to actually reside in a precinct in order to vote there. But in La La Land, where this judge lives, people just say they live wherever they choose and presto-they vote there. And why stop there? Go ahead and let them register in 25 different precincts with 25 different park bench addresses. ID? Who needs that? Some people don't have that, either.
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But there is no way to validate an "address" like that. Utility bill, state ID, all that antiquated kind of stuff. That's because here on Earth, people are supposed to actually reside in a precinct in order to vote there. But in La La Land, where this judge lives, people just say they live wherever they choose and presto-they vote there. And why stop there? Go ahead and let them register in 25 different precincts with 25 different park bench addresses. ID? Who needs that? Some people don't have that, either.
Homeowner's Obama sign stirs controversy in Pflugerville | News for Austin, Texas | KVUE.com | Local News
Homeowner's Obama sign stirs controversy in Pflugerville | News for Austin, Texas | KVUE.com | Local News: "Homeowner Melanie Fish has political signs in her yard, but those aren't the ones in question. It's the one on her fence that the homeowners association is telling her to take down."
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The sign is 8 x 4 ft. Maybe a little large?
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The sign is 8 x 4 ft. Maybe a little large?
Monday, October 27, 2008
Cost of crash: $2,800,000,000,000 | Business | The Guardian: "Autumn's market mayhem has left the world's financial institutions nursing losses of $2.8tn, the Bank of England said today, as it called for fundamental reform of the global banking system to prevent a repeat of turmoil 'arguably' unprecedented since the outbreak of the first world war."
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$2.8 trillion here, and another few trillion there, and pretty soon it starts to add up to some serious money.
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$2.8 trillion here, and another few trillion there, and pretty soon it starts to add up to some serious money.
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