Friday, June 20, 2008
More and Better Democrats
Good for Congressman, and Senate candidate, Udall.
Earned himself a spot on the Eschaton challengers list.
As did Jim Himes.
Earned himself a spot on the Eschaton challengers list.
As did Jim Himes.
What Saint McCain Really Means
CJR:
CJR obviously misunderstands the role of the press in this campaign, which is to explain what they "know" John McCain really meant in such a way as to excuse every gaffe and to minimize any potential damage to him. Since at this point he's been on all sides of just about every issue, this involves making sure voters understand that whatever they think about the issues, John McCain agrees with them!
If a candidate for president unwittingly revealed, at a widely attended press conference, that he either didn’t understand a basic element of one of his own key policy proposals, or wanted to fool the public about it, you’d think the mainstream press would treat it as news. Apparently, you’d be wrong.
CJR obviously misunderstands the role of the press in this campaign, which is to explain what they "know" John McCain really meant in such a way as to excuse every gaffe and to minimize any potential damage to him. Since at this point he's been on all sides of just about every issue, this involves making sure voters understand that whatever they think about the issues, John McCain agrees with them!
Who Was Preznit On 9/11 Again?
All the conservative fearmongering about a Democratic president is only possible because the media has always conveniently let Bush off the hook for failing to do his job. It's especially galling because it's the job Bush regularly claims is his most important one.
What did that say again? Oh yes.
Now watch this drive!
What did that say again? Oh yes.
Bin Laden determined to strike in U.S.
Now watch this drive!
The End of Public Finance
As long as donation caps are kept in place, I really don't think the death of general election presidential public financing is anything to cry about.
Requirements
Philly Mayor Nutter:
That's the issue explained very succinctly. If developments are designed around the requirements of automobiles then you cannot maintain a walkable and desirable city. That isn't to say that cars should be completely exclued or ignored, just that they cannot, as they have been for so long, be the primary consideration.
"We are a walkable city, increasingly home to bicycles," Nutter declared. "We want to preserve our urban form. We do not want the automobile and its design requirements to dominate the landscape."
That's the issue explained very succinctly. If developments are designed around the requirements of automobiles then you cannot maintain a walkable and desirable city. That isn't to say that cars should be completely exclued or ignored, just that they cannot, as they have been for so long, be the primary consideration.
I'd Like 5 More Rail Lines
Guess I'll have to move to Houston.
Claims they'll be done by 2012. I haven't spent much time in Houston so I have no sense of where these lines go and if they're good projects. Wikipedia has more information.
City Council approved an agreement Wednesday with the Metropolitan Transit Authority, giving permission for the agency to build five light rail lines on Houston streets, but also pledging to make sure Metro does the job right.
The 13-2 approval came after weeks of discussion and questions from council members — and after Metro officials said they would reconsider plans to put part of the University line on Wheeler Avenue.
Claims they'll be done by 2012. I haven't spent much time in Houston so I have no sense of where these lines go and if they're good projects. Wikipedia has more information.
And Another Jenga Piece Comes Out
Who will get caught holding the bag?
Moody's Investors Service on Thursday stripped the insurance arms of Ambac Financial Group and MBIA of their AAA ratings, citing their impaired ability to raise capital and write new business.
...
MBIA said Moody's action will give some holders of guaranteed investment contracts the right to terminate the contracts or to require that additional collateral be posted. The company said it has "more than sufficient" liquid assets to meet those requirements.
Toast
Bloomberg on the arrested Bear Stearns guys:
Blog time is so confusing, so I had to look up when in the basic housing bubble/credit crisis timeline this happened. It was right at the peak of the subprime implosion.
``The subprime market is pretty damn ugly,'' Tannin wrote in one e-mail to Cioffi. ``If we believe the [CDO report is] ANYWHERE CLOSE to accurate I think we should close the funds now. The reason for this is that if [the CDO report] is correct then the entire subprime market is toast.''
Tannin sent the e-mail from a personal account, not the Bear Stearns system, to the personal e-mail account of Cioffi's wife, according to the indictment.
That e-mail and others cited in the indictment ``are really absolutely the key,'' said Villanova University Law School Dean Mark Sargent, who read the indictment.
``They show that they knew the funds were cratering, that the bottom had dropped out of the subprime market, and their leverage was putting enormous pressure on the fund,'' Sargent said.
Blog time is so confusing, so I had to look up when in the basic housing bubble/credit crisis timeline this happened. It was right at the peak of the subprime implosion.
Thursday, June 19, 2008
I've Already Seen This Show
It was called "Flip This House" and every episode I saw (3-4) ended with the flippers being unable to sell the house at a price they expected.
Abu G
What a wonderful administration.
Former Attorney General Alberto Gonzales, now under investigation for allegedly politicizing the Justice Department, ousted a top lawyer for failing to adopt the administration's position on torture and then promised him a position as a U.S. attorney to placate him, highly placed sources tell ABC News.
Gonzales, who was just taking over as attorney general, asked Justice Department lawyer Daniel Levin to leave in early 2005, shortly after Levin wrote a legal opinion that declared "torture is abhorrent" and limited the administration's use of harsh interrogation techniques.
...
Levin took the NSC job in March 2005. The U.S. attorney position never materialized, and sources close to Levin say he never believed Gonzales was serious. He went on to take a job in private practice.
Cuts
Wonder why this dateline is Bangalore.
Down about 25% since 2005.
BANGALORE (Reuters) - Washington Mutual Inc (NYSE:WM - News) said on Thursday it eliminated 1,200 jobs, following mortgage losses that some analysts have said will keep the largest U.S. savings and loan from turning a profit before 2010.
The cuts affect roughly 3 percent of the thrift's employee base. Washington Mutual has said it ended March with 45,883 employees, down from 49,403 at year-end.
...
At the end of 2005, well before the housing crisis began to take hold, the thrift had employed more than 60,000 people.
Down about 25% since 2005.
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