Thursday, March 19, 2009

Biggie Shortie

Photo Credit: Faithmouse on Fleshbot

Bernie went to court and I missed out on going to see him! Feng Shui consultant that lost 2/3's of her investments wonders how he was able to swindle all that money from everyone, perhaps he himself was a Feng Shui consultant of Portfolios.
Cramer Vs. Stewart
Free Space for Artists in Braddock! Does anyone want to move out there and start something?
Natasha Richards dies from ski-related head injury
Obama Administration and Congress do not care about you

Saturday, March 7, 2009

Can You Ear Me Now?

New Dora doll silhouette outrages moms that don't want their girls to grow up wishing they had long legs, negative torso, and an abnormally large head (photo credit - Nickelodeon and NY Daily News).
Employment Rate up to 8.1%, the highest it has been in 25 years... as was the 7.6% in January. The breakdown: 681,000 in December; 655,000 in January; and now 651,000in February.
We have been in a recession since December 2007 and have lost 4.4 million jobs (almost half that number in the past 3 months)
Details of Chris Brown and Rihanna domestic abuse released, finally. What a poor display of social responsibility from the both of them, especially her.
Hillary Clinton in Turkey
8 Dead in Pakistan bombing
"I am proud that we passed a recovery plan free of earmarks..."
- Barack Obama (as if the Republicans don't do it too)
Pork and Beans Breakdown
8,000 Earmarks for $8 Billion:

$1.6 M for pig odor research in Iowa (findings will be used to end the cause of bellybutton odor)
$143K for Las Vegas Natural History Museum (special "Life of the Neon Light" wing will be dedicated to the Demcratic Party)
$238K for the Polynesian Voyaging Society in Hawaii
1.7 M for Honey Bee Factory in Texas
$1 M for Cricket control in Utah (Plans to end the desire of stepping on grass to make the chirping stop)
$925K towards Sustainable Energy in Las Vegas
*Argued that it's only a tiny fraction of the overall bill (less than 1%), Senators are smiling about the earmarks that they had passed in it - Joe Lieberman claimed that not all of his earmarks that were passed were authorized, but most of them are "good ones," and he is willing to defend them
*Congressional Democrats are getting 60% of the earmarks (favors are owed for the President's agenda to be implemented)
*Earmarks = Jobs

Thursday, March 5, 2009

Much Ado About Health Care

Judge attacked, Defendant carrying scissor/hair-clipper weapon for 2 weeks was killed
School bus drunk driver, Students told their parents that bus driver hit mailbox on the way home and parents decided to report it
Eagle bursts through windshield on interstate 80
Camp Lejeune bus accident on Highway 17: tour buses carrying 100's, 7 marines injured, 1 critically injured
Michael Jackson, 50 and father of 3, calls it a comeback for 2009 - there will be a series of concerts in London to follow, Jackson hasn't done anything since 2001 - also filing suit against Julian's auction house for attempting to auction rhinestone trimmed socks and other priceless items
Chris Brown has hearing today for Rhianna face punches
Karl Rove summoned to court! Rove and Harriet Myers testifying for the firing of 8 U.S. Attorneys, not under oath and is also behind closed doors - boo! Federal Judge struck down Bush's move for executive privilege. Rove claims he has nothing to hide, but Justice department found improper political context
Opening bell for Wall Street today - Dow Jones is down 117 points
General Motors maybe filing for bankruptcy: if it can't implement it's turn around plan
Government spends more than $2 trillion on health care a year: Obama is trying to get hospitals, doctors, drug maker execs, and insurance company execs all "at the bargaining table" to come up with a plan for his health care summit at the White House today
Nadya Suleman auditioning for the role of Christine Collins in the Changeling
Missing NFL players off the coast of Florida
Breaking News: Man cooks eggs and starts building fire in PA
Rep. Zach Wamp (House Appropriations committee) gets a reaction out of MSNBC reporter by saying "Health care is a privilege" - other famous quotes from the convo:
"Well it's probably the next major step towards Socialism... I hate to sound so harsh..."
"So the Devil is in the details and we're waitin for those details"
"Just because Republicans made a lot of mistakes, doesn't mean Democrat's have to make those same mistakes times 5 or times 10"
"Half of 'em choose to what's called 'go naked' and just take a risk of getting sick, they end up in the emergency room and cost you and me a whole lot more money"
"How many illegal immigrants are there in this country today getting our health care? Gobs of em!"
Mrs. Bush (Barb) had open heart surgery, in recovery in intensive care, operation was a success, she's already been on the phone calling people
Is everyone tired about hearing about the monkey attack and outraged about monkey legislation?
Rush Limbaugh is still an idiot, Michael Steele is a pussy
According to Roger Simon, Michael Steele (RNC) "thinks the Republican party has to reach out and become an off-the hook, hip-hop party that reaches out to minorities, especially those in the cities and the suburbs."
I should write a book about how lipstick clad 13 yr olds should not write books and be used as a revival of a failed ideology that erroneously fronts a racist/homophobic/ignorant base. Jonathan, do you really know what filibuster means?

Constitutional Act of the Day: Depository Institutions Deregulation and Monetary Control Act

Passed in 1980
Gave Federal Reserve greater control over non-member banks:
1) Forced banks to play by their rules
2) Allowed mergers amongst banks - practice that had happened, but seemed to really pick up post-1980
3) Raised deposit insurance from $40,000 to $100,000
4) Allowed credit unions and savings and loans to offer checkable deposits (faster access to funds on demand, no interest, say goodbye to saving and hello to spending!)
5) Federal Reserve Board of Governors no longer had the power of setting interest rates for savings accounts (repealed some of Glass-Steagull and Regulation Q)
6) Allowed Institutions unregulated charging of interest rates

Paying Down the House

The Obama plan for foreclosures:
$75 Billion mortgage fix
Aim to help 4 million people to avoid foreclosure
The government owns Fannie Mae and Freddie Mac, which guarantee/own most of the mortgages in the country under $700,000, now can pretty much do whatever they want/need by leveraging the portfolio they now have in housing to lower interest rates (includes commandeering your house if needed... I kid)
Possible by using Net Present Value Test: is there greater value when putting them (people that have been in default) into a loan modification?
Criticisms/Possible Problems:
Take a borrower currently in default and put them into a loan modification plan, then the recidivism (re-default) rate has been over 50% in a normal market which could be a far greater percentage with the state of the current market
Lower interest rates without qualifications: people don't qualify due to income/LTV issues
Incentives to borrowers to make them stay in their house and make payments is counter-intuitive, it's what they should be doing in the first place