Conservatives, led by the Wall Street Journal have been complaining about this problem for at least 15 years, and what was the reaction? The Democrats and their allies, the thugs of the financial industry, disparaged and in one case the head of Fannie Mae attempted to get a Journal editor fired. Sounds like Blagojevich doesn't it? |
Thursday, January 08, 2009
Blago-Rama
Me Too
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The "Crime"
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Fauxtography Today (Part 56,826)
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And Watch For More Of The Same Cr*p From Obambi
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Wednesday, January 07, 2009
Retread Update
Denizens of Slashdot's copylefty comment boards are reacting to Obama's appointment of music industry litigator Tom Perrelli as Associate Attorney General. And they are not pleased with The One for tapping someone Slashdot terms "The Recording Industry of America's favorite courtroom lawyer." A collection of some of my favorite Slashdotter comments: |
Memory Holed (Part 7,896,376)
MICKEY KAUS BUSTS REVISIONIST ACCOUNTS of the Iraq Study Group: “I must have missed the part of the blueprint where the Iraq Study Group called for the Petraeus ’surge’ strategy.” |
Tuesday, January 06, 2009
Stupidity
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"Rights"
Compounding our problems, the West has been in an extended ideological slide of its own. It is not just that our elites have become unmoored from the traditional anchors of our ethics and morality (religion, tradition) but they have adopted as their ideological underpinnings a new variant on the Marxist mantra. We have gone from "to each according to his need, from each according to his ability" to a more nuanced and contemporary "to each according to his desires, from each according to his willingness to donate (sometimes under coercion) his time, energy, and money." Most young people of my children's generation have thousands of mp3's on their iPods and yet have paid for none of them. In my own field, Medicine, the idea that the "consumer" should actually pay for their health care has become an outmoded object of ridicule. |
Be Confident
In its latest push to compel confidence, for instance, the authorities are placing enormous pressure on the Financial Accounting Standards Board to suspend “mark-to-market” accounting.
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Neither Should Be Left In Charge
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Monday, January 05, 2009
Nazi Nancy
Speaker Pelosi plans to erase House rules that were written around Newt Gingrich’s "Contract with America" which would effectively silence the minority. After decades of Democrat control of the House of Representatives, gross abuses to the legislative process and several high-profile scandals contributed to an overwhelming Republican House Congressional landslide victory in 1994. So... this is what hope and change looks like. |
Don't Be Rude Now...
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Malodorous Chutzpah Thy Name Is Bill
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Pay To Play (D-How Ya Doin'?)
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Saturday, January 03, 2009
What Will They Come Up With Next?
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Friday, January 02, 2009
CO2 Below The Surface
Secondly, it shows that there are huge year-to-year fluctuations in the amount of extra CO2 that shows up at Mauna Loa. Most of these fluctuations are due to El Nino and La Nina events. |
Thursday, January 01, 2009
Heresy
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Welcome To The Bill And W Depression
As an REO (foreclosed properties) valuation analyst I see first hand all over the country what is really happening. The real net to the investor is often less than 30% of UPB. I also see the trends daily in price drops, activity and new properties coming on the market. There were one million foreclosures in 2008 and easily 2.5M in 2009 based on current monthly foreclosure activity (ex. there were 250k notices filed in October alone. All of this real activity is evidence that the problem is worse than being let on. Values are likely to drop at least as much again as they already have in most markets except those that have already dropped 30% or more like Phoenix, Miami, San Fransisco and Los Vegas. This essentially means the housing market has already entered a full blown depression and we are maybe at the midpoint. The Feds cannot manipulate real supply and demand. Thats econ 101. Thank Bill Clinton for his "housing for everyone" mantra. |
Uncertainty
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Indistinction
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Or Is The Warming The Result Of The Cloud Change?
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Wednesday, December 31, 2008
If The OHsu Fits
In his December 22 letter, Cohen also noted that Hsu was already "notorious for his political activities" and that it was "inevitable" that his client's "connections" to Bill and Hillary Clinton "and other democratic notables--including perhaps the president-elect--will be introduced at trial." Before becoming a key fundraiser for Hillary Clinton's presidential bid, Hsu co-hosted a 2005 California fundraiser for Obama's political action committee and introduced the Illinois Democrat to Marc Gorenberg, a Silicon Valley venture capitalist who later joined the Obama campaign's national finance committee. Prosecutors allege that Hsu directed his investors to donate money to specific candidates, and then reimbursed them in violation of federal campaign laws. |
Looking Away
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Impossible?
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Of A And B
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Tuesday, December 30, 2008
The "Vacuum"
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Believe It
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The Amazing Coincidence
in an amazing coincidence, it is the failure -- or the expected failure -- of entities with heavy exposure to toxic mortgages that is putting extreme financial strain on those who sold insurance. But the problem can't possibly be the toxic mortgages encouraged by Washington, according to the politicians. It must be the system of insuring against the collapse of those who bought the mortgages. |
Fanning The Lazy
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Alarmed And Begging For Rescue
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Government Is Here To "Help"
Reason TV has a video of a panel discussion that really articulates the frustration that libertarians feel about the financial bailout. As Tim Cavanaugh points out, the bailout redistributes from the prudent to the profligate. As Veronique de Rugy points out (footnoting Andrei Shleifer, et al), when people lose confidence and trust in one another, their confidence in government increases. Thus, government failure that undermines confidence winds up reinforcing the demand for government! Bernanke, Geithner, and Paulson were hailed as saviors, even though they could just have easily been portrayed as bumblers. The whole thing was portrayed as government having no choice but to come in and clean up the private sector's mess, rather than an ill-conceived attempt to stop markets from adjusting to a mess that was created by a combination of market failure and government failure. |
More Head Banging Goodness
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Cracked
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Sunday, December 28, 2008
Sad To Say...
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Dave Barry's Real Life
Some may call this satire. Others may call it, well, real life. Dave Barry really may not be making this up. |
Saturday, December 27, 2008
Unfair
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A Quote You Can't Place -- Why Not?
Anyone paying attention to politics circa 2006 would reasonably guess that it's a quote from some famous Democrat about George Bush. But it isn't -- the answer is here at the end of the second paragraph.
Did that make you blush? Then don't forget to take the "Who said it?" quiz (second item down) while you're flustered -- you may miss a few there too...
Friday, December 26, 2008
Unfathomable
"Even the Rabbi and his wife at Nariman House were sexually
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