Treasury opens talks on Fannie, Freddie http://bit.ly/9gDZmW
Banks, who want a cut of the action and free Federal guarantee against default, need to get real. This ‘no risk’ approach won’t do anything to stabilize the dysfunctional, volatile Home Loan Market.
If we are going to take the time to restructure home loans and reduce risk, the banks will have to pay for this free default insurance and riskier loans will have higher indemnity fees.
The goal of restructuring is not to create windfall profit for banks and insulate them from risk. The goals should be to introduce stability, reduce inflated home values gracefully, thereby increasing affordability, and reduce risk by shifting to lenders.
Pakistan’s problems persist, despite fresh funds http://bit.ly/axRH9S – Wave after wave of disasters hit densely populated areas, destroying infrastructure, cutting channels of communication and supply, isolating millions for weeks and months, exposing them to disease and the weather.
While mankind struggles to deal with these relentless assaults, they add to the scope, intensity and frequency of their occurrence.
- Unchecked population increases
- Migration of people to already over packed population centers
- Expanded consumption of fossil fuels degrading atmospheric balance
- Dumping human and industrial waste into water systems
- Depletion of natural food resources
While the human race is delusional enough to believe the universe we live in is around for their edification, the reality is that we have become a boil on the backside of the cosmos and are about to be popped out of existence.
The real issue is not with Islam, or any religion, for that matter. It’s when passion is co-opted for political purposes. This disease is found in quasi-religious demonization of pregnant mothers seeking abortion, stoning of arranged brides denying their abusive husbands, slanderous character assignation of immigrant workers, social scorning on homeless victims of the GOP Great Depression, vilification of inconvenient scientific theory…….. It goes on and on and reads like a GOP political campaign strategy.
The Military has done whatever they were asked in Iraq. They did their job. Private contractors, though, failed to do theirs, while they were paid as if they did.
This catastrophic failure of Rumsfeld’s move to privatize the military and establish Corporate control in place of Executive government control, was as sinister as it was flawed.
Regarding an article by Douglas Schoen in the Daily Beast:
“The GOP now holds a six- to seven-point advantage in the generic vote for Congress……”. This observation of public opinion, while being one that is often repeated, is about as meaty as Epistulae Obscurum, Virorum. It’s similar to asking someone if they’d like to live near Yellowstone Park, without telling them what it will be like when they get there.
‘Do you prefer a Republican over a Democrat’ will produce one set of responses, while ‘Do you prefer Boehner over Pelosi’ produces another. For all the fear and loathing the GOP has fueled, they have failed to identify an individual on their side that is a more attractive alternative. Does the public, for example, want Newt, Sarah or Paul over Barack Obama?
Reporting on irrelevant polling results says more about the reporter’s need to promote controversy for self-aggrandizement, than his ability to illuminate the national dialog.