Mercury Rising 鳯女

Politics, life, and other things that matter

Archive for December 7th, 2007

Friday Cat Blogging

Posted by MEC on December 7, 2007

“I’m a cat, and you’re not.”

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Posted in Alexander the Great, Friday Cat Blogging | 4 Comments »

More Smoke and Mirrors from Bush

Posted by MEC on December 7, 2007

A surprise, not. As soon as I learned that Bush had a proposal to ease the mortgage crisis, I knew it was aimed at helping the mortgage industry, not at helping people keep their homes.

As Edmund L. Andrews says right up front in the New York Times, it is an industry-led plan. I’d have been shocked if it wasn’t.

Although Mr. Bush unveiled the plan at the White House on Thursday, its terms were set by the mortgage industry and Wall Street firms. The effort is voluntary and it leaves plenty of wiggle room for lenders. Moreover, it would affect only a small number of subprime borrowers.

Actually, I don’t think Bush’s proposal is even intended to help the mortgage industry, because there’s little incentive for lenders to voluntarily freeze interest rates.

“Why would anybody in his right financial mind agree to a five-year price freeze, especially when we’re staring in the face of possible inflation?” asked Roger W. Kirby, managing partner at Kirby McInerney, which has represented investors in class-action lawsuits over securities. “Mr. Paulson has overestimated the generosity of people on Wall Street.”

It looks to me like just another empty gesture to give the appearance of doing something about the problem while really doing nothing at all. We’ll get lots of headlines that mislead people into thinking that desperate debtors will get some relief, and that’s all that will happen.

Posted in capitalism as cancer, mortgage crisis | 2 Comments »

The Associated Press Hits a New Low

Posted by MEC on December 7, 2007

The Associated Press thinks we need to know, and should care, about whether Gennifer Flowers would vote for Hillary Clinton.

…I suspect what this is really about is that the Associated Press thinks we needed to be reminded of the “bimbo eruptions” in Senator Clinton’s husband’s presidential campaign. Subtle — but effective?

Posted in beat the press, Clinton Rules | 3 Comments »

“Philosophically Opposed” To The Filibuster?

Posted by Phoenix Woman on December 7, 2007

I guess that must be only when Democrats are using it, because when his fellow Republicans do it Norm Coleman doesn’t mind at all (especially if it involves saving the hyper-rich from having to pay anything near their fair share).

Posted in 'starving the beast', (Rich) Taxpayers League, 2008, Norm Coleman, Republicans, Republicans acting badly, taxes | Comments Off on “Philosophically Opposed” To The Filibuster?

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