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Archive for December 3rd, 2008

Federal Reserve: Community Reinvestment Act did not impact mortgage crisis

Posted by Charles II on December 3, 2008

Via Ritholtz.

Short form: Contrary to the assertions of critics, the evidence does not support the view that the CRA contributed in any substantial way to the crisis in the subprime mortgage market.

Long form.

Posted in mortgage crisis | 4 Comments »

Sixteen It Is

Posted by Phoenix Woman on December 3, 2008

Attackerman over at The Great FDL Borg reminds us of what certain TradMed pundits said about Obama’s deciding to keep Robert Gates on as Secretary of Defense:

Here’s Max Boot on the implications of Gates’ reappointment:

This all but puts an end to the 16-month timetable for withdrawal from Iraq…

And here’s Mara Liasson, the token liberal commentator on Fox News:

16 months has gone out the window, I think we can say that.

Why is Spencer reminding us of these pontifications? Because guess what — Gates has signed onto Obama’s timetable:

Defense Secretary Robert Gates signaled a willingness Tuesday to forge ahead with two key priorities for the incoming Obama administration: accelerating the U.S. withdrawal from Iraq and shutting down the Guantanamo Bay detention center.

As the only Republican Cabinet member asked to stay on by President-elect Barack Obama, Gates told reporters that military commanders are looking at ways to more quickly pull troops out of Iraq in light of the 16-month timetable that was a centerpiece of the Democrat’s campaign.

He also said it will be a high priority to work with the new Congress on legislation that will enable the U.S. to close the detention center at the U.S. naval base in Cuba, where about 250 terrorism suspects are still being held.

This really shouldn’t surprise anyone. Gates is part of the crowd that hung with Brent Scowcroft, and Scowcroft was one of the strongest voices opposing the 2002 PNAC-Platoon-planned invasion of Iraq. Whatever else Gates may be, he’s not particularly fond of wars of choice.

Posted in Barack Obama, Good Things, Iraq war | 6 Comments »

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