Do I have this mortgage disaster right?

I just want to see if I can boil this whole thing down to the most basic elements possible.

Due to lessened regulations and requirements of creditworthiness, billions of dollars was loaned to people who couldn’t qualify for a debit card much less a mortgage.  Those same people re-and tri-financed the same property, often taking ARM loans with large balloon payments down the road.

Meanwhile the banks and mortgage entities packaged up these mortgages, borrowed on them, invested that borrowed money in bad decisions and bad investments and lost it all.  They basically went to Vegas with our money and thought they could win enough to pay it back and keep the extra.

Then people’s ARM payments came due and they started defaulting, leaving the banks and mortgage houses holding worthless paper on both sides of the equation.

And now we’re all paying for it dearly.  Do I have it about right?  I’m sure it’s infinitely more complicated, but is that the gist of things?  It’s not really the defaulting mortgages, as that is only 5% or so of all mortgages.  It’s the fact that the banks borrowed against the mortgages, sold and resold the debt and in the end were playing a shell game, except there was no ball under any of the shells.  Is that about right?

By the way, the fact that most of the lawmakers that created this mess are Democrats means nothing to me.  There were Republicans sitting right next to them in Congress who voted for all of this crap.  No one is innocent here.

Posted by JimK at 08:55 PM on September 29, 2008
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Categories: News,  Politics,  The Federal Government

Ping!  Fundraiser reminder

First of all, thank you SO much to every person that has already donated to the server fund.  Some of you did it anonymously, and some of you let me know.  Either way is cool, but those of you who let me know who you are...I’m trying to figure out something cool with which I can thank you.  At the very least I will address each of you individually, as I have developed at least that much class over the years. Well...almost.

As I said the last time, if you think we’re worth a few bucks...please hit the tip jar.  It’s not an emergency, it’s just a bit of a rough patch and this server never gets cheaper.  It never gets more expensive, thankfully, but it never gets cheaper.

All we’re asking for is a small contribution.  Think of it like buying us a pizza...or a couple of microbrews.  Just a few bucks to get the monkey called Softlayer (our hosting provider) off our backs.

Use Amazon.Com

Use PayPal:

As always...you rock.

Posted by JimK at 01:24 AM on September 15, 2008
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Categories: Personal,  Blegging

9/11, Seven Years Later

A few years ago I collected all my posts on the subject.  Last year I wrote this:

Four years ago these three links were collected...now it’s two years later. Part 1, part 2 and part 3.  Another one, from 2002.  Still pretty much feel like that, only totally disappointed that we didn’t just rebuild the big ugly bastards in the fastest Manhattan construction project in history.

Anyway, I’m not going to post anything else today.  I’m not interested in scoring political points today.  But that’s just me.  Everyone else can do whatever they want.  It’s still a free country, regardless of what some people might tell you.

I’m not going to say anything any better than that. except to say that you should be careful what you say and to whom you say it today if you play at political point scoring.  Memory is funny...people react strangely to things that normally they wouldn’t.  Maybe today is not the day to play gotcha politics.  Maybe today is the day to remember that we’re supposed to be an American family.

Posted by JimK at 02:00 PM on September 11, 2008
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Categories: 9/11
Tags: 9/11

It’s fundraising time…

People, you have no idea how little I want to write this post.  I have been putting it off forever, but numbers are numbers, and numbers don’t lie.  My numbers are telling me that I need to once again ask for the support and generosity of the readers of the blogs on our server.

If you read anything by me, Lee, any of the guys at MOA, Moorewatch or Right-Thinking or anyone else we host, and you think we’re worth a few bucks...please hit the tip jar.  It’s not an emergency, no one is dying, no one is losing their house, although our house is part of it - our tax bill went up because our house is worth more, so our mortgage escrow is short and you homeowners know what that means!  Monkeys on backs.

All we’re asking for is a small contribution.  Think of it like buying us a pizza...or a couple of microbrews.  Just a few bucks to get the monkey called Softlayer (our hosting provider) off our backs.

You people are awesome, and have always treated us well.  I hope that every reader of this site knows I appreciate the years of posting, comments and general yacking we’ve all done.

Posted by JimK at 03:34 AM on September 09, 2008
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Categories: Personal,  Blegging

McCain’s convention speech

As I expected, it didn’t wow me, but I didn’t hate it.  He was pretty reserved for McCain, and he pandered a bit to the hard religious right there at the end.  Part of why I don’t generally like him, that tendency to pander and call it “being a maverick,” but he did remind me of his good qualities.  So that’s something.  I’d be shocked to see the ratings for this approach 32-34 million.  I doubt he drew in new eyeballs.  Who doesn’t already know what John McCain is going to say?  He doesn’t generate excitement, which is a problem insofar as getting the media to talk about you in a positive way.

You know, like they were doing just two years ago before he started talking sense on the surge.  Remember when the media worshiped the ground he walked on, and Democrats would say “He’s the only Republican I would ever vote for?”

Yeah...me too.  They may not want me to remember it, but I do.

Posted by JimK at 04:22 PM on September 05, 2008
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Categories: News,  Politics

What liberal media?

As of 4-ish PM today (ignore the timestamp on this post.  I cannot for the life of me make the server and the blog and my personal account agree on what time it is):

Results 1 - 30 of about 9,379 for obama convention ratings
Results 1 - 30 of about 1,854 for palin convention ratings.

Note the dates on the stories crowing about Obama’s numbers.  The morning after the speech, all the media wanted to do was crow about how many people watched Jesus Barack Kennedy Obama descend from the heavens on a cloud of ether and save America from itself.  Today?  No one wants to talk about how the entire country watched the hockey mom bitchslap an entire political party and never even smudge her lipstick.  Instead they’re trying to denigrate her, to demean her public life, impugn her private life and make every effort to destroy her entire family JUST SO THEIR GOLDEN CHILD WON’T LOSE AN ELECTION.

Oh, that liberal media.

Sarah Palin knocked it out of the park last night and didn’t utter a word about gay marriage, abortion or any of the other divisive crap that has threatened to destroy the South Park Conservative/Libertarian support for the GOP.  She spoke about things we (by which I mean (Conservo-Libertarian Americans) care about, things we can actually do, things that can change.  She targeted the idiocy that comes out of the Obama camp.  She kept her family front and center and dared these idiots to keep picking on them.  She dared them to keep attacking her as a hick and a mom and inexperienced.  And they are taking the dare.

NEVER INTERRUPT YOUR ENEMY WHEN HE IS MAKING A MISTAKE.  Let them talk, Palin supporters.  Let them speak unopposed for a week or so.  Let them tell all women in America that you cannot have kids and a career.  Let them mock small towns.  Let them attack young mothers.  Let them alienate half of the country.  Let it happen.  Let them try to equate Barack running a campaign with Palin running a state.  Let them attack her for being mayor of a small town.  Not only can it not hurt Palin and McCain, it will hurt Barack and Biden

As I said in a comment over at Rachel Lucas’ blog last night...my “ROSLIN ‘08 - SO SAY WE ALL” shirt is now even cooler.  We can actually vote for Laura fraking Roslin.  Plus I got nominated and seconded by the commenters for Rachel’s coveted “Chuck Norris Action Jeans ‘Unique Hidden Gusset’ Award For Excellence In Commenting.  Which kicks so much ass.  I mean it obviously has to.  It’s Norris-y.

Hey, you know what would be the awesomest ticket ever? Palin/Lucas ‘12.  SO SAY WE ALL.  The White House would be full of dead caribou and huge lazy dogs, and Rachel would teach Maggie to eat reporters instead of possums.

That’s genius.  We need to make that happen.

Posted by JimK at 03:56 PM on September 04, 2008
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Categories: News,  Politics

McCain picks Palin

Sarah Palin on the Republican ticket is a great birthday present.  Thank you, Senator McCain.  It’s just what I wanted.

Donna asked me the other day who I thought McCain should pick as his Veep.  Sarah Palin was the only name I offered.  She’s smart, she’s an outsider, she’s tough and she can pull Hillary voters to her bosom.  She runs the most unforgiving state in the union.  She does all the things that male politicians pretend to do in order to get elected.  She’s young *with* experience.  I wish she was running at the top of the ticket instead of McCain.  I could see myself voting *for* her and not just against Biden and Obama.

Plus she’s cougar-riffic.  That can never be a bad thing.  FINALLY a brilliant decision by the McCain campaign.  Learn more about Sarah here.  There is a lot to like.

Think about the historical significance here.  We’re either going to get a black President or a woman as VP.  And yet all we hear is how racist and sexist this nation is.  Does. Not. Compute.

*UPDATE*

Some more thoughts.  Palin is now being attacked by the Obama camp for being the mayor of a small town with zero foreign policy experience.  What?  Her state borders Russia and Canada.  That’s more foreign policy experience right there than Obama, Biden and probably even McCain put together!  Actual, practical dealings with foreign governments count, Obama campaign idiots.

Sarah Palin is the perfect choice.  She is the past, a family-oriented conservative with a record of fiscal prudence, and she is the future, a strong, civic-minded woman with a love for guitar rock.  She can literally be the cornerstone upon which the GOP can rebuild after the destruction caused by the Bush/Rove/Cheney era.  They call Obama “The One” but even with the few things over which I disagree with palin, I think she’s the one.

Prediction: McCain/Palin victory, Palin heads a ticket in 2012 and Hillary locks it up for her side and we get a Hillary/Sarah race.  Now that;s some shit to look forward to...Palin won’t take none of that Clinton guff.

Posted by JimK at 01:38 PM on August 29, 2008
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Categories: News,  Politics

Obama picks Biden

Really?  Hopeyful Changitude means you pick an establishment old white man as your Veep?  That’s the new, different, special, Obama style of politics?  Sounds like precisely and exactly the same old kind of politics, only with cool catchphrases like “Sure, If you want!” and “Tax the rich!” and “Who’s Tony Rezko?”

Hopeyful Changitude.  The other white meat?

Posted by JimK at 02:34 PM on August 23, 2008
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Categories: News,  Politics

Woohoo!  Weight loss update

One word; Thinner.

Posted by JimK at 08:14 PM on August 18, 2008
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Categories: Personal

Silky Pony banging one on the side

Remember when the Democrats went apeshit over Larry Craig?  It wasn’t the fact that he may have asked for gay sex or was gay, it was the hypocrisy, remember?

Now think back to ALL THE FUCKING LECTURES from Elizabeth and John Edwards about morality, family, trust, etc.

Now laugh at the sheer fucking arrogance of those two.

And this is why Gotcha Politics is ruining this country and the world.  Six months from now a Republican will get gotted.  Then a Democrat.  Then a Republican.  And so on.  The media will promote the shit out of every Republican that gets caught and barely mention the Democrats, so bloggers and some conservative reporters will dig harder for (D) mis-steps.  And the cycle repeats ad infinitum.

STOP LECTURING PEOPLE ABOUT HOW TO LIVE THEIR GOD-DAMNED LIVES, ASSHOLES.  Just take care of infrastructure, trade, diplomacy and the occasional war.

Posted by JimK at 03:40 PM on August 08, 2008
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Categories: News,  Politics