Five years ago, I wrote off the Republican Liberty Caucus for dead.
Well, they're back, likely inspired by the Ron Paul and Tea Party movements, and they had a big night Tuesday.
6.09.2010
6.08.2010
President of bankrupt developer whines about the banks
You know this guy is full of crap if he gets me to defend Goldman Sachs.
In an op-ed in the Salem News, Michael D. "Mick" Pattinson, president of bankrupt developer Barratt American (builder of Leucadia's Rancho Tyvek Estates -- "Come for the tiny lots, stay for the low-income housing next door"), complains that it's not fair that some people on Wall Street recognized the housing bubble and bet that it would burst, or that some banks stopped lending to overleveraged developers as the housing market cratered.
The developer industry spent millions of dollars lobbying Congress to keep the housing bubble going with tax incentives, lax lending standards, and easy credit from an alphabet soup of government and quasi-government agencies including FHA, Fannie Mae, Freddie Mac, and the Federal Reserve. I didn't hear Mr. Pattinson complaining as he was getting rich from the funny-money-fueled bubble. In fact, Pattinson was a frequent contributor to the industry's lobbying PAC.
The housing crash was the inevitable result of the greatest asset bubble in the history of the world. Any builders who were overleveraged at the peak of the biggest bubble in history have only themselves to blame for their demise.
Pattinson's argument is equivalent to saying that Bernie Madoff's Ponzi scheme was a good thing, and the only problem was that investors stopped giving Madoff money to keep the Ponzi going.
Pattinson should stop trying to shift the blame to those who recognized the bubble, and apologize for the wreckage that his industry has caused the entire economy.
In an op-ed in the Salem News, Michael D. "Mick" Pattinson, president of bankrupt developer Barratt American (builder of Leucadia's Rancho Tyvek Estates -- "Come for the tiny lots, stay for the low-income housing next door"), complains that it's not fair that some people on Wall Street recognized the housing bubble and bet that it would burst, or that some banks stopped lending to overleveraged developers as the housing market cratered.
The developer industry spent millions of dollars lobbying Congress to keep the housing bubble going with tax incentives, lax lending standards, and easy credit from an alphabet soup of government and quasi-government agencies including FHA, Fannie Mae, Freddie Mac, and the Federal Reserve. I didn't hear Mr. Pattinson complaining as he was getting rich from the funny-money-fueled bubble. In fact, Pattinson was a frequent contributor to the industry's lobbying PAC.
The housing crash was the inevitable result of the greatest asset bubble in the history of the world. Any builders who were overleveraged at the peak of the biggest bubble in history have only themselves to blame for their demise.
Pattinson's argument is equivalent to saying that Bernie Madoff's Ponzi scheme was a good thing, and the only problem was that investors stopped giving Madoff money to keep the Ponzi going.
Pattinson should stop trying to shift the blame to those who recognized the bubble, and apologize for the wreckage that his industry has caused the entire economy.
Tomorrow's news today: primary election results
It looks like it was a good day nationally, and a bad day in California.
Senator Blanche ObamaCare Lincoln lost her primary in Arkansas and will be retiring, and conservative candidate Sharron Angle beat establishment candidate Sue Lowden in Nevada.
In California, no good news. Carly FAILorina, a RINO McCain-wannabe, beat libertarianish Tom Campbell and Tea Party favorite Chuck DeVore. In a year when Barbara Boxer should be vulnerable, FAILorina is so widely despised even among Republicans that she will lose in a landslide.
Meg Whitman won easily and has a decent chance to beat Jerry Brown, at which point she will establish the second Schwarzenegger administration.
Prop. 14, which will eliminate third-party candidates from the general election, passed.
More bad news: RINOs Abel Maldonado and Mike Villines, who voted for the biggest state tax increase in the history of the U.S., won their primaries for higher offices.
That's how I see it playing out. Any deviation in California would be upside from here.
UPDATE: OK, it looks like I may already be wrong on Arkansas. Let's hope I'm wrong on Prop 14 too.
UPDATE 2: Yippee!!! The vile Villines lost!
Senator Blanche ObamaCare Lincoln lost her primary in Arkansas and will be retiring, and conservative candidate Sharron Angle beat establishment candidate Sue Lowden in Nevada.
In California, no good news. Carly FAILorina, a RINO McCain-wannabe, beat libertarianish Tom Campbell and Tea Party favorite Chuck DeVore. In a year when Barbara Boxer should be vulnerable, FAILorina is so widely despised even among Republicans that she will lose in a landslide.
Meg Whitman won easily and has a decent chance to beat Jerry Brown, at which point she will establish the second Schwarzenegger administration.
Prop. 14, which will eliminate third-party candidates from the general election, passed.
More bad news: RINOs Abel Maldonado and Mike Villines, who voted for the biggest state tax increase in the history of the U.S., won their primaries for higher offices.
That's how I see it playing out. Any deviation in California would be upside from here.
UPDATE: OK, it looks like I may already be wrong on Arkansas. Let's hope I'm wrong on Prop 14 too.
UPDATE 2: Yippee!!! The vile Villines lost!
6.07.2010
Cooperation, Goldman style
You see what happens, Larry, when you subpoena the wrong guys?
Goldman Sachs buries Fincial Crisis Inquiry Commission under 2.5 billion pages.
HT: T-Dub
Goldman Sachs buries Fincial Crisis Inquiry Commission under 2.5 billion pages.
"We should not be forced to play 'Where's Waldo' on behalf of the American people," said Phil Angelides, the chairman of the inquiry commission, in an interview with reporters. "In our view their [Goldman Sachs] conduct has been extraordinary. They are outliers. The overwhelming number of people and institutions have complied and complied in a timely basis."
HT: T-Dub
6.06.2010
Helen Thomas
So we have to wait until they are 89 years old, senile, and possibly had a few cocktails at lunch before the leftists in the mainstream media tell us what they really think.
UPDATE: She's gone! I don't know if that's a good thing. I like having the most vocal leftists on display to prominently show the MSM's bias.
UPDATE: She's gone! I don't know if that's a good thing. I like having the most vocal leftists on display to prominently show the MSM's bias.
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