| These Loans Were Made for Walking: The End of the Subprime Crisis
That would be a good payday even for the Wall Street crowd. Of course, the bank will take a big hit, since it will not be able to recover anything close to its original $400,000 loan, but that is not the homeowner's problem. Is it moral to just walk away from a loan and leave the bank holding the bag? That's an interesting question. We live in a country in which CEOs can run a corporation into the ground and then walk away with pay packages worth tens, or even hundreds, of millions of dollars. Equity and hedge fund managers, who rank among the richest people in the country, have successfully lobbied Congress so that they pay a lower tax rate on their earnings than schoolteachers and firefighters. After walking away with this multi-million dollar tax break, at least one prominent member of this crew has been leading the charge to cut Social Security, pointing out he doesn't need his Social Security check.
January 2006
And wouldn't have been a big deal at all if a man and a woman had been involved. DFO: Sorry, Hoss, I'm not going to see it. Besides, I'd never hear the end of it from my brother-in-law, who is a bonafide bronco-busting cowboy from eastern Montana, not a celluloid wannabe hired hand like Ledger and Gyllenhaal. I'd rather remember Ledger in "A Knight's Tale" or portraying Mel Gibson's son in "The Patriot." Chick flicks are bad enough. But a chick flick featuring dudes is worse. Give me "King Kong," "Lord of the Rings 2" or even "Indiana Jones" any day. Question: Are you going to see/have seen "Brokeback Mountain"? .
Shares in gold miner Newcrest drop on cost fears
SHARES in Australia's largest gold miner, Newcrest Mining, fell today after warning costs at its giant Telfer pit in Western Australia were rising. The miner also cut its 2008 production target for Telfer, but maintained its group annual forecast because the shortfall would be made up by its other mine in New South Wales. The company's production forecast was unchanged at between 1.81 and 1.89 million ounces of gold, and between 86,500 and 90,000 tonnes of copper. "Full year production guidance is maintained, with the trend of increasing quarterly production expected to continue for the remainder of the year,'' Newcrest said in its December quarter production report. In the December quarter Newcrest produced 456,618 ounces of gold, up 2 per cent on the September quarter, and achieved a gold price of $US870 an ounce, up 21 per cent.
Company in which O.C. has invested $80 million faces default
A company in which Orange County has invested $80 million may default Thursday. County Treasurer Chriss Street said he believes the county ultimately will get all its money back because "the underlying assets are paying." But the company, Whistlejacket Capital Ltd., just lost its would-be savior and is facing a cash crisis. Whistlejacket's woes point out the risks of Street's purchase of structured investment vehicles, or SIVs. Standard Chartered, the British bank that manages Whistlejacket, said Jan. 31 that it was going to put Whistlejacket on its books to prevent any loss to investors. Later, however, Whistlejacket's assets plummeted in value, leading to the appointment of a receiver and the bank's decision Wednesday not to bail out the $7 billion SIV.
Stocks Extend Losses In Midday Trading
Last month, NYSE Euronext agreed to buy the American Stock Exchange for $260 million in stock. Goldman Sachs Group GS gave up nearly 2% in the pre-open. Oppenheimer & Co. cut the investment bank to perform from outperform based on valuation. Oppenheimer also lowered its full-year earnings forecasts for 2008 and 2009. Yahoo YHOO lost 1% in pre-open trading. Banc of America Securities cut the Internet search firm to to neutral from buy, saying Yahoo (NASDAQ:YHOO) would face stiff regulatory hurdles if it accepts Microsoft's (NASDAQ:MSFT) MSFT $44.6 billion buyout offer. But BofA raised Yahoo's price target to 31 from 26. Yum Brands YUM gave up 2% in the pre-market. Late Monday, the operator of the Taco Bell, Pizza Hut and KFC chains reported a 5% rise in Q4 earnings, its weakest performance in eight quarters.
Wake Forest Baptist receives new cardiograph technology
Dr. Carlos M. Ferrario, director of hypertension and vascular research at Wake Forest University Baptist Medical Center, has partnered with CardioDynamics to examine ways to best diagnose patients and then develop personalized treatments. San Diego-based CardioDynamics, has provided Baptist with its Impedance Cardiography test machine and accompanying software to monitor specific factors of high blood pressure. "The accuracy of this technology...eliminates a lot of lost treatment time as a physician searches for the right medications for an individual patient," Ferrario said. "Quicker results mean higher patient confidence in the diagnosis and better compliance with the prescribed treatment." The machine is approved by Medicare and covered by many private insurers.
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Screw the Voters. Let Superdelegates Decide!
The Mississippi Freedom Democrats wanted nothing more than a few convention seats-seats to which they were entitled by open, fair elections in their home state. Walter Mondale, who was to become the architect of the current superdelgate system, refused to seat the elected delegates of color in 1964. Wait until 1968, Mondale insisted, as the representative of the Credentials Committee. The non-violent mass movements of the '60s, the passage of the Voting Rights Act, the rise of the feminist movement, the change in voting age, the anti-nuclear campaigns- all generated a groundswell of new voters in Democratic party politics. However, far from welcoming the newly enfranchised activists, party leaders were filled with fear-class and race fear. They never accepted the democratic reforms enacted in the 1970s, when youth and people of color participated for the first time in establishment politics.
Open Thread
He's the only one running that doesn't have scandal after scandal dragging behind him. If Romney isn't good enough for, then you will never ever be able to vote again! We got a clean cut all American man. He's well spoken. He has a sharp mind. He is a business genius, as described on Neil Cavuto's show. He knows we gotta rebuild the military, as well as keep the wheels rolling on the economy. Wanna bet he will not take the terror war seriously? I would think he would be very aggressive Please tell me why you are so down on the guy. Is it because he is a Mormon? .
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