Mercury Rising 鳯女

Politics, life, and other things that matter

Archive for July 3rd, 2008

Another One Bites The Dust

Posted by Phoenix Woman on July 3, 2008

Another ginned-up effort by the WaPo to invent scandal where none exists has been promptly squashed:

So Obama’s rate was 30 basis points better than the average. However, the amount of the loan and the nature of the property are not the only factors that determine a mortgage rate. Another major consideration is the creditworthiness of the borrower. According to current rate quotes from myFICO.com, a borrower with very good credit can expect a mortgage rate about 30 basis points better than someone with pretty good credit, and a borrower with excellent credit can expect about a 50 basis point discount.

Unless the Washington Post has access to Obama’s FICO score — and unless it has rented an apartment to him, it probably doesn’t — it is missing a pretty important piece of information on what Obama’s mortgage rate ought to have been. What was Obama’s FICO score? I don’t know, but considering that…
* Obama had just gotten a $2.27 million book deal from Random House — about $1 million more than the value of the mortgage.

* The Obamas each had exceptionally secure jobs that paid them a combined annual salary of about $500,000 per year.

* The Obamas had just sold their condo, on which they had realized a $137,500 profit.

* The Obamas were prominent public figures whose political futures depended in part on maintaining a reputation for responsibility and trustworthiness.

* The Obamas are known to be relatively thrifty and have no credit card debt but substantial savings.

…I would think that the Obamas were exceptionally creditworthy. So indeed, Obama received a “discount” — the same discount that any borrower in his position would have received.

I suspect this is all about trying to gin up a FauxGate around Obama to try and drown out the icky news about McCain: Most notably, the news from Thad Cochran that John Sidney McCain III, during a 1987 diplomatic mission to Nicaragua with several other Republican Senators led by Bob Dole, actually physically slammed around a Sandinista associate. Just the kinda guy I want holding the briefcase with the launch codes. NOT.

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Posted in 2008, anti-truth, banking, Barack Obama, beat the press, GOP/Media Complex, John McCain, media, Media machine, mediawhores, WTF? | 1 Comment »

This Looks Pretty Cool

Posted by Phoenix Woman on July 3, 2008

Let the wind charge your batteries while you ride your bike.

Posted in energy, environment, Good Things, renewable energy, saving the earth, sustainability | 4 Comments »

 
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