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Bomb kills 10 in beer garden northern Nigeria
Today's Headlines
Headline Comments [Views]
Page 6: Politix
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Page 4: Opinion
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Economy
George Will Discovers 'Reckless Endangerment'
Technically this is 'Opinion', but it is closer to fact than many MSM stories.
Most explanations of the financial calamity have been indecipherable to people not fluent in the language of "credit default swaps" and "collateralized debt obligations." The calamity has lacked human faces. No more.
Or ...look to the left. So to speak.
Put on asbestos mittens and pick up "Reckless Endangerment," the scalding new book by Gretchen Morgenson, a New York Times columnist, and Joshua Rosner, a housing finance expert. They will introduce you to James A. Johnson, an emblem of the administrative state that liberals admire.

Government having decided to dictate behavior that markets discouraged, Lenders promoted reckless borrowing, knowing they could off­load risk to purchasers of bundled loans, and especially to Fannie Mae. In 1994, subprime lending was $40 billion. In 1995, almost one in five mortgages was subprime. Four years later such lending totaled $160 billion.
Shocking! The government's hope to change to universal home ownership started the housing collapse!
Back in those days it was assumed that the money-well would never dry up...
"Reckless Endangerment" is a study of contemporary Washington, where showing "compassion" with other people's money pays off in the currency of political power, and currency.
That's the problem with Washington - it's always "other people's money."
Although Johnson left Fannie Mae years before his handiwork helped produce the 2008 bonfire of wealth, he may be more responsible for the debacle and its still-mounting devastations -- of families, endowments, etc. -- than any other individual. If so, he may be more culpable for the peacetime destruction of more wealth than any individual in history.

Morgenson and Rosner report. You decide.
Posted by: Bobby || 07/04/2011 07:30 || Comments || Link || E-Mail|| [351 views] Top|| File under:

#1  2008 BONFIRE NOT-OF-THE-VANITIES ...

versus

* NEWS KERALA > TWO OUT OF THREE AMERICANS SAY COUNTRY IS NO LONGER A SUPERPOWER, + regard the Year 2000-2010 period as a "Decade of Decline".

* FREEREPUBLIC > DOMINO'S, DENNY'S, + WENDY'S ALL AT RISK, GOING BROKE.

D *** NG IT, IFF ONLY THERE WAS A "SPEND, SPEND, SPEND", WHATS-A-DEFICIT/FREE-MARKET? FEDERAL-LEVEL ENTITY THAT COULD NATIONALIZE + SAVE THEM!

* DEFENCE.PK/FORUMS > DOES US BUDGET WOES MEAN BOTCHED END TO WOT? | GATES: DEFENSE NOT THE CAUSE OF US BUDGET DEFICIT.

ARTIC > retiring US SECDEF GATES = Obama Plan intentionally reduces USDOD-centric commitments or responsibilities, while simul increasing US engagement in strategic tradeoffs + acceptance of higher risks agz US National Security.

IIUC, THE USA = MAKING WILFUL "DEALS WID THE DEVIL" AGZ PAST POLICIES TO SET UP OWG-NWO???

Thus of course, US PRO-OWG = "GLOBALIST" CONCESSION(S) = the specter of Radical Islam launching CONVENTIONAL + NUCLEAR JIHAD [Nuc Terror]AGZ CONUS IN NEAR FUTURE???

* SAME > 16 REASONS WHY THE US CAN LONGER BE THE POLICE OF THE WORLD.

VERSUS

* PEOPLE'S DAILY FORUM > US WILL KEEP LEADERSHIP IN SPACE EXPLORATION FOR[next] HALF-CENTURY: NASA HEAD, despite the end of the US Space Shuttle Program.

ARTIC > NASA CHIEF > argues that, save for selective Govt. oversight, the US = NASA can transfer most functions as per LEO tranportation to the PRIVATE SECTOR, e.g. RELIABLE ASTRONAUT TRANSPORT by 2015 [to ISS, Moon?]???

NICE, but unfortunately also implies or infers that the US is directly to blame iff future US, POST-UN OWG-NWO SPACE DEFENSE CAUSES = OTHERWISE FAILS TO PREVENT COMET APOPHIS FROM SLAMMING INTO TERRA LUNA = THE MOON.

[THIRD SECRET OF FATIMA = "RIDERLESS WHITE HORSE/PEGUSAE here].

NO? Yokay, the B52's "LOVESHACK" MTV Video = THE-PLANET-NOT-THE-CAR "OH-H-H, MERCURY ... ".
Posted by: JosephMendiola || 07/04/2011 23:02 Comments || Top||


Home Front: Politix
Joe Biden joins Twitter
The famously verbose Mr Biden sent his first-ever Tweet on Monday, a July 4 message from himself and wife Jill Biden asking Americans to take time to think about U.S. troops and military families on US Independence Day.

His office announced the development with a post on the White House blog.

Given his gift for gab, as well as gaffes, Mr Biden might seem an unlikely candidate to say it in 140 characters or less. However his Tweets will be staff-written.
Posted by: tipper || 07/04/2011 15:40 || Comments || Link || E-Mail|| [354 views] Top|| File under:

#1  Twitter is for twits. Short Attention Span Theater.
Posted by: Alaska Paul || 07/04/2011 16:08 Comments || Top||

#2  What the hell is the purpose of Twitter, anyway? The only thing it seems to be "useful" for is letting a bunch twits celebrities engage their fingers (or thumbs) before putting their brains in gear. (Not that their brains are usually in gear anyway, no matter how long they take.)

"[Biden's] Tweets will be staff-written." Smart move to make that announcement; that way when he does get his hands on whatever it is you use, and makes his usual dumb remarks, he can blame a poor staffer. Wonder if the sacrifical staffer has already been chosen?
Posted by: Barbara || 07/04/2011 17:20 Comments || Top||

#3  Wonder if the sacrifical staffer has already been chosen?

Yes, he used to work for Anthony Weiner.
Posted by: Pappy || 07/04/2011 17:37 Comments || Top||

#4  Twitter is so Twits can send Tweets to other Twits.
Posted by: Deacon Blues || 07/04/2011 18:47 Comments || Top||

#5  I wonder when TOTUS will get his own Twitter account.
Posted by: CincinnatusChili || 07/04/2011 20:56 Comments || Top||

#6  "I wonder when TOTUS will get his own Twitter account."

Well, Bambi's already got the twit part down pat, CC. >:-(
Posted by: Barbara || 07/04/2011 21:45 Comments || Top||



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Two weeks of WOT
Mon 2011-07-04
  Bomb kills 10 in beer garden northern Nigeria
Sun 2011-07-03
  Assad sacks Hama governor
Sat 2011-07-02
  Swiss couple kidnapped in SW Pakistan: official
Fri 2011-07-01
  Report: U.S. Drone Wounds Top Islamists in Somalia
Thu 2011-06-30
  Pakistan tells US military to leave 'drone' attack base
Wed 2011-06-29
  Libyan rebels seize Gaddafi weapons depot
Tue 2011-06-28
  Breaking: Kabul Intercontinental Hotel under attack
Mon 2011-06-27
  Suicide car bomber kills 35 at Afghan clinic
Sun 2011-06-26
  25 killed in beer garden attack in Nigeria
Sat 2011-06-25
  60 dead in Afghanistan hospital bombing
Fri 2011-06-24
  Syrian Army Enters Village Bordering Turkey, Hundreds Flee
Thu 2011-06-23
  AL chief slams NATO bombing in Libya
Wed 2011-06-22
  Obama Opts for Faster Afghan Pullout
Tue 2011-06-21
  Assad holds hard line on unrest
Mon 2011-06-20
  Syrian dissidents set up 'national council'

Better than the average link...



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