Mercury Rising 鳯女

Politics, life, and other things that matter

Archive for March 24th, 2010

Banks catch up with Mercury Rising

Posted by Charles II on March 24, 2010


Alistair Barr, Marketwatch:

Since the mortgage crisis hit in 2007, U.S. banks have tried many strategies to hold back the tidal wave of foreclosures. But one thing the industry has mostly avoided is cutting the principal owed on troubled home loans.

That changed Wednesday when Bank of America Corp. , the largest U.S. mortgage lender, unveiled a program to cut principal on up to 45,000 underwater home loans by as much as 30%.

Banks have been reluctant to cut principal on mortgages, because this would leave them having to take immediate losses on those loans. There’s also concern that more homeowners would try to get their principal reduced if they see others getting such treatment, leading to a costly free-for-all.

“Regulators and the government have been in favor of principal reductions, but banks have struggled to sell the idea to shareholders,” said Matt Albrecht, a financial-services analyst at Standard & Poor’s Equity Research, in an interview.

However, some homes have fallen so much in value that banks may be more open to principal reductions now, he added.

“The cost of foreclosures is greater than the 20% to 30% reduction in principal that the banks are discussing,” Albrecht said. “If they can reduce the principal a bit and ensure homeowners stay current, long term that works out better than going through foreclosure and flooding the market with more distressed homes.”

I posted this, what?– two years ago?

No, it was almost three years ago.

But the blogs are all run by DFHs who don’t know anything and are taking the jobs of the heroic journalists away from them.


Posted in blogs and blogging, mortgage crisis | 4 Comments »

The new epidemic: damaged brains

Posted by Charles II on March 24, 2010

No, I’m not talking about listeners of Rush Limbaugh and Glenn Beck, though they certainly are brain-damaged. I’m talking about crime victims, abused children, and most especially veterans. Mary Susan Littlepage:

New statistics show that the number of Iraq and Afghanistan veteran patients being treated for post-traumatic stress disorder (PTSD) and who have had PTSD claims approved increased. …

The statistics, prepared by the advocacy group Veterans for Common Sense (VCS) with information obtained from the Department of Veterans Affairs (VA), indicate that the number of Iraq and Afghanistan veterans treated by the VA increased from 480,000 reported in June 2009 up to 508,000 reported in September 2009.

Also, of those veterans treated by the VA, the number of patients who were diagnosed with at least one type of mental health condition, such as PTSD or TBI, were about half of the veterans treated both as of June last year and March this year.

Research is ongoing:

Of eight planned clinical trials, one that is to begin this spring will test the benefit of administering a synthetic form of a neuro-steroid drug to PTSD patients. The drug naturally appears in the brain, but at lower levels, among some PTSD patients. It is expected to help relieve some PTSD symptoms such as anxiety, rage and aggression.

Posted in science and medicine, veterans | 2 Comments »

Madness in Virginia

Posted by Charles II on March 24, 2010

Politico has a story (via David W. at The Sideshow) that makes it clear that right-wing extremists have turned to violence, precisely as they did in 1995.

Law enforcement authorities are investigating the discovery of a cut propane gas line at the Virginia home of Rep. Thomas Perriello’s (D-Va.) brother, whose address was targeted by tea party activists angry at the congressman’s vote for the health care bill.

An aide to the congressman confirmed to POLITICO that a line to a propane tank behind his brother’s home near Charlottesville had been sliced.

Why his brother’s house? Well… people who are so dim as to think that what just got passed as healthcare reform is “socialism” are very dim indeed. Here’s TPM:

In the Periello case, an activist named Mike Troxel of the Lynchburg Tea Party wrote a blog post telling activists to add a “personal touch” to their anger at Periello — who voted yes on the health care bill — by going to his house. But Troxel mistakenly posted the address of Periello’s brother….

And there’s one coda here, reported by the Danville News: Another tea party activist who reportedly posted Periello’s brother’s address online, Nigel Coleman of the Danville Tea Party, wrote in a blog comment after learning about the mistaken address: “Do you mean I posted his brother’s address on my Facebook? Oh well, collateral damage.”

Get it? It doesn’t matter who you kill, just as long as you kill someone. After all, for all anyone knows, the brother is a Tea Party Republican.

Posted in evil, health care, Republicans as cancer | Tagged: | 1 Comment »

Big Oil Funding Effort To Recall California’s Landmark Climate Law

Posted by Phoenix Woman on March 24, 2010

TerraPass has the skinny.

Go and spread the word, folks!

Posted in big money, capitalism as cancer, climate change, Oil | Comments Off on Big Oil Funding Effort To Recall California’s Landmark Climate Law

%d bloggers like this: