The brighter side of the mortgage bubble

Marijuana growers are having no trouble buying houses to set up growing operations:
Officials with the U.S. Drug Enforcement Administration say the number of indoor marijuana plants seized by federal, state and local authorities in California has quadrupled in just the last three years, from at least 54,000 plants to nearly 200,000 in 2006.

Many of those seizures have occurred in middle-class and upscale suburbs, where the pot growers took advantage of cheap home financing — and minimal credit checks — to purchase homes and remodel them into sophisticated farms, authorities said.
When I was a kid, indoor growers were fly-by-night operators who rented houses and lived in constant fear that their landlords would need to inspect the property for some reason. Now, thanks to easy credit and liar loans, you don't need a job to buy a house.

Truly the American Dream.

CalPERS Fail

Despite the awesome bull market this year, CalPERS again missed its return target, earning only 5.8% vs. its required 6.8%. CalPERS has mi...