Archive for category Political Mix
The Dumbest Stimulus Plan to Date
Posted by admin in Mixed Economy, Political Mix on December 5th, 2009
by Morgan Housel - Dec. 4, 2009
The Motley Fool
Look how far we’ve come, Fools: One year ago, banks were ridiculed for making so many bad loans. Today, they’re being threatened with fines for not making enough.
Earlier this year, the government enacted a $75 billion stimulus program to entice banks to modify mortgages. So far, the program has been a dud. In order to ensure that banks and mortgage servicers are doing their part, the Treasury warned on Monday that those not modifying fast enough “will be subject to consequences which could include monetary penalties and sanctions.”
Modify more mortgages, or be fined. Yikes. This is serious business. But why is the program failing so hard that banks and servicers have to be threatened with fines?
First, the numbers. There are two phases to the modification process: the trial modification, where a bank or servicer modifies the loan, and a second step, in which the modification is made permanent. In order to become permanent, borrowers have to make three on-time payments and document their financial condition.
So far, trial modifications have been on fire:
|
Month |
Trial Modifications Granted (cumulative) |
|---|---|
| May and Prior | 50,130 |
| June | 143,276 |
| July | 253,673 |
| August | 386,865 |
| September | 487,081 |
| October | 650,994 |
Source: makinghomesaffordable.gov.
No complaints there. The original goal was to hit 500,000 trial modifications by early November. Done and done.
Permanent modifications are another story. Data is hard to come by — the Treasury conveniently leaves out current figures — but with straight faces, the Treasury and Department of Housing and Urban Development recently predicted that 375,000 trial modifications will be made permanent by year end.
Now here comes the punchline: The Congressional Oversight Panel reports that from March until September, only 1,711 trial modifications were made permanent. Ouch.
Among these 1,711 permanent modifications, just one small servicer, Ocwen Financial Group (NYSE: OCN), claims it alone accounts for 44.6% of the total. Back out Ocwen’s percentage, and the rest of the mortgage industry made a nearly insignificant number of trial modifications permanent.
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The Anti-Arpaio Haymarket Squares Storm the Cronkite Building
Posted by admin in Mix Up TV, Political Mix on December 5th, 2009
By Stephen Lemons in Feathered Bastard - NewTimes.com
Fri., Dec. 4 2009 @ 7:02PM
Because I was upstairs at the Cronkite School building this past Monday watching Sheriff Joe get blistered by the journalism profs, then sung off the stage by the Freddie Mercury impersonators, I missed all the action taking place on the ground floor. There, a peaceful revolt was in full swing, with the anti-Joe forces storming the lobby, led by the Phoenix punkgrass group the Haymarket Squares.
The Haymarket Squares attack the Cronkite School with punkgrass
Named for the infamous Haymarket Square Riot of 1886, the folksy trio recall such politically-minded performers of yore as Pete Seeger and Woody Guthrie. In this video, they have the crowd clapping and singing along with them for their song “Sheriff Joe,” which includes some pretty cool lyrics. Check these out:
Law enforcement has become a joke around here
The biggest terrorist in town is ruling us with fear
Calls himself the toughest sheriff but we all know
He’s an evil old man that Sheriff Joe…
I particularly like the part where they reference some of the victims of Joe’s jails, such as Phillip Wilson, Deborah Braillard, and Jeremy Flanders.
In ‘96 an inmate took a tent stake to the head
In ‘03 the Aryans beat a man to death
A diabetic woman needed insulin and begged
Arpaio’s crew just let her die instead
Chilling words, and oh, so true, as New Times readers are well aware.
I’m looking forward to hearing the Haymarket Squares play live. Their next date is at Mardi Gras on the 11th, and they have their songs available on iTunes and elsewhere. We need more revolutionary-type music in this burg. Looks like the Haymarketers aim to provide it. More power to ‘em.
4 Ex-Governors, Older, Grayer and Craving Jobs of Yore
Posted by admin in Political Mix on December 5th, 2009
by Jennifer Steinhauer - Dec. 5, 2009
The New York Times
PORTLAND, Ore. — Over the course of the summer, four men of a certain age looked around their respective states and registered displeasure. They concluded that they could do things better — yet again.
The four are former governors who have grown old enough since leaving office to qualify for senior citizen discounts at the movies. Now they want their old jobs back.
One of them, Roy E. Barnes of Georgia, has added a passel of grandchildren — six to be exact — since he sat in the governor’s chair. Another, Terry E. Branstad of Iowa, was the state’s youngest governor ever when first elected — in 1982. A third, Jerry Brown of California, has traded in his groovy blue Valiant that he drove as governor for a Toyota Camry hybrid, which thieves recently removed the wheels from.
“I love Oregon,” said the fourth, John A. Kitzhaber, governor of this state for eight years. “It’s a state that’s not baked yet.”
Running again is “liberating,” Mr. Kitzhaber said. “I’m not afraid to lose. I don’t want to. But I’m not afraid.”
In terms of the fun factor, being a governor right now may fall somewhere between having blood drawn and scaling fish. Budgets are in turmoil, housing markets remain rocky and high unemployment has hobbled nearly every state. California’s economy is one of the hardest hit in the country, with nearly $20 billion in budget gaps looming, and Georgia, Iowa and Oregon are like the rest of the nation, reeling from joblessness and debt.
But all that has not stopped these men — and maybe a fifth. A former Maryland governor, Robert L. Ehrlich Jr., a Republican, has made noises about throwing his hat in the ring again, too.
While no group keeps official statistics, experts in both parties said they could not recall a time when so many individuals sought to recapture the governor’s seat in one election year. With 37 seats up for grabs in 2010, these old newcomers have introduced an unusual dynamic as both parties scramble to pick up new states.
The four former governors — all Democrats except Mr. Branstad, and with 10 terms of experience among them — say that they have no larger political goal beyond the return to the governor’s office, and that they were inspired by what each felt was an opportunity for a seasoned hand to steer his state through troubled times. In some cases, there was also a desire to right what they believe had been wronged in their absence.
“I’ve already lived in the governor’s mansion,” said Mr. Barnes, 61, who was ousted in 2002 after one term. “I don’t need another line on my résumé. I’m not seeking any higher office, and I don’t like flying in helicopters — I never understood how those things got off the ground anyway. I am running for one reason and one reason only, and that is to change a state headed in the wrong direction and to come back here and raise grandchildren. When you get to that point in political life, it is really comfortable.”
In the very nascent campaigns, all four men find themselves in fairly comfortable spots, with name recognition giving them a fund-raising edge over primary competitors. All are largely ahead in opinion polls.
Obama Tells Nation He’s Going Out For Cigarettes
Posted by admin in Political Mix on December 3rd, 2009
Dec. 1, 2009
TheOnion.com
WASHINGTON—During a nationally televised address Tuesday, a visibly tired and worn President Obama informed the country that he was going out for a pack of cigarettes and would be back in 10 minutes or so.
At press time, it was already getting dark and he had not yet returned.
“My fellow Americans, a year ago I was elected to the office of president of the United States,” Obama said. “With that responsibility comes a lot of expectations. A lot of pressure. I inherited a trillion-dollar deficit, two wars, a financial system in crisis, and a failing health care industry. I’ve been trying to piece it all back together, you know? Trying to be the man everyone elected me to be. The man of this White House. But sometimes—sometimes it’s like I’m suffocating.”
“Anyway, I’m going to go get some smokes, but I’ll…be right back,” added Obama, his voice trembling slightly. “Don’t wait up.”
Following the unexpected announcement, a solemn Obama reportedly grabbed his keys, hugged his two daughters for what witnesses called an extended period of time, kissed his wife on the forehead, and quietly whispered, “I love you.”
Secret Service agents later confirmed that a half-tearing, half-smiling Obama was greeted by Vice President Joe Biden in the White House Rose Garden. Kneeling on the lawn, Obama reportedly told “Big Joe” that he would be in charge of the country for a while, and that the vice president should keep an eye on Iraq and Iran while he was out.
“He’ll be back any minute now and everything will be okay again,” said press secretary Robert Gibbs, checking his watch. “Maybe the 7-Eleven he went to was out of his brand so he had to go somewhere else. Or maybe he got lost. Or…or maybe he just decided to stop and get some ice cream for everyone and that’s why he’s not back yet.”
“Yeah, that’s it,” Gibbs added. “That’s it.”
Sources within the administration confirmed that Obama has made no contact with members of his staff since leaving on the errand. Among those observed by reporters peering out an East Wing window awaiting his return were Defense Secretary Robert Gates and first daughter Sasha Obama, who said they initially thought they heard the president coming in through the visitor’s gate, but that it turned out just to be the White House dog, Bo.
Though many claimed it isn’t like the president to just up and leave, sources acknowledged that Obama has seemed distant in recent weeks, worrying aloud about how he’s going to keep the nation afloat during a crippling recession, or be a good role model to its more than 300 million citizens.
Zombi Reagan Raised From Grave To Lead GOP
Posted by admin in Mix Up TV, Political Mix on December 3rd, 2009
Bush administration paid for scapegoats
Posted by admin in Mix Up TV, Political Mix on December 3rd, 2009
Visit msnbc.com for breaking news, world news, and news about the economy
Fellow Iraqi turns tables on Bush shoe-thrower
Posted by admin in Political Mix, World News on December 3rd, 2009
by Sophie Hardach - Dec. 2, 2009 3:44 PM est
Reuters.com
PARIS (Reuters) - An Iraqi reporter imprisoned for throwing his shoes at President George W. Bush found himself on the receiving end of a similar footwear attack in Paris Tuesday.
Muntazer al-Zaidi, whose flare-up against Bush last December turned into a symbol of Iraqi anger, was speaking at a news conference to promote his campaign for victims of the war in Iraq when a man in the audience hurled a shoe at him.
It hit the wall next to his head and a scuffle ensued in the audience, television footage showed.
French media said the attacker was an exiled Iraqi journalist who spoke in defense of U.S. policy, accusing Zaidi of siding with a dictatorship, before throwing his shoe.
Zaidi’s own outburst summed up the feelings of many Iraqis about the U.S. military invasion of their country and the ensuing bloodshed and sectarian killing.
Millions of people around the world saw images of him shouting “this is a goodbye kiss from the Iraqi people, dog,” during a news conference by the former U.S. leader, before throwing his shoes at him.
Zaidi, a television reporter, was sentenced to three years’ imprisonment for assaulting a head of state. This was later reduced to one year and he was released in September.
He has alleged that he was tortured by guards after his arrest.
(Reporting by Sophie Hardach; editing by Andrew Dobbie)
