Dateline Phoenix (UK.Reuters): “Today, as a result of declining home values, millions of families are “underwater,” which means they owe more on their mortgages than their homes are worth. These families are unable to sell their homes, and unable to refinance them. So in the event of a job loss or another emergency, their options are limited. “Right now, Fannie Mae and Freddie Mac — the institutions that guarantee home loans for millions of middle-class families — are generally...
Monthly Archives: February 2009
Pilot Error In Buffalo….A Sad Conclusion
From the Wall Street Journal: Investigators examining last week’s Continental Connection plane crash have gathered evidence that pilot commands — not a buildup of ice on the wings and tail — likely initiated the fatal dive of the twin-engine Bombardier Q400 into a neighborhood six miles short of the Buffalo, N.Y., airport, according to people familiar with the situation. The commuter plane slowed to an unsafe speed as it approached the airport, causing an automatic stall warning, these people...
Roland Burris Must Resign
With investigations underway in Illinois, an ethics probe launched in the Senate, and more and more evidence that he’s a lying, corrupt scoundrel, it is indeed time for Roland Burris to resign. The Washington Post From the moment that Mr. Burris was selected, he strove to portray himself as a blameless public servant. The sad pictures of Mr. Burris being cast out into the rain by the Democratic leadership of the Senate, which initially refused to seat him, turned...
Into the Frying Pan
Following fast on the heels of President Obama signing the stimulus bill on Tuesday came the news that he “would send an additional 17,000 American troops to Afghanistan this spring and summer, putting his stamp firmly on a war that he has long complained is going in the wrong direction.” The new order from the Obama administration increses the troop level in Afghanistan by nearly 50% and White House officials said, “ further decision on sending more troops will...
Stimulus Signed, Go Out and Spend?
President Obama has signed the Stimulus Bill and the hope is that putting the plan into action will jumpstart the economy and bring some relief to recession weary Americans. Word has it that President Obama has also readied “a new $50 billion foreclosure rescue for legions of Americans who are in danger of losing their homes.” White House press secretary, Robert Gibbs, said today that President Obama has also “not ruled out a second stimulus package. Let’s hope we don’t need...
Is It Time for Burris to Go?
Is it time for Senator Roland Burris to go? Just when we thought the whole Burris/Blago spectacle might be over, there are new revelations and Burris is now coming clean, admitting that he did seek “to raise campaign funds for then-Gov. Rod Blagojevich at the request of the governor’s brother at the same time he was making a pitch to be appointed to the Senate seat previously held by President Barack Obama.” Burris’ latest comments in Peoria Monday night were the...
Dick’s Last Ditch
In the final days of the Bush presidency, Dick Cheney apparently lost his Svengali hold over Bush. The Daily News reports that Cheney ”launched a last-ditch campaign to persuade his boss to pardon Lewis (Scooter) Libby – and was furious when President George W. Bush wouldn’t budge.” In multiple conversations, both in person and over the telephone, Cheney tried to get Bush to change his mind. Libby was convicted of perjury and obstruction of justice in the federal probe of...
Tuesday Morning Blues and News
California for all intents and purposes is in the toilet economically speaking. Things have gone from bad to worse out there, as Governor Schwarzenegger is now preparing to send out 20,000 pink slips. That will leave many more Californians singing the blues. If there’s any bright news at all coming from the state that’s been hit so hard from the recession, it’s the fact that Los Angeles Mayor Antonio Villaraigosa unveiled a new plan on Monday that is being...
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