More Subprime Analysis
An excellent post on the relationship between the ballooning interest rates, mortgage defaults and adverse selection:
…when the major cause of large-scale defaults is not the fecklessness of the borrowers but rather the fact that the market equilibrium has high interest rates that are themselves both the consequence and cause of high default rates, that the government has a market-making role to play by providing guarantees. This seems to me to be a good logic.
Bonus Link and another.
Technorati Tags: economy, mortgage, interest, adverse selection
Sphere: Related ContentMore Texas Liveblogging
Also Twitterer @marlaerwin and @lonesoph1st
Update: For Travis County updates, follow @lnewcomer and @MikeChapman on Twitter. (h/t ChristianBurns)
Technorati Tags: texas county convention
County Conventions Liveblogged on Twitter
Today are the Texas and California county Democratic conventions (with one Texas exception, happening tomorrow), and some of my twitter buds are liveblogging via Twitter. Here’s an excerpt from @lnewcomer‘s (web site here) live stream:
Momocrats Socalmom (Donna) and Glennia are at the California State Convention (which you can also view via webcast at their web site) are also liveblogging:
Glennia:
- Speeches seem to cover the same topics: education, Iraq, global warming, healthcare. Beat McCain. about 2 hours ago from web
- John Garamendi gave a good speech. Hit the highlights. No body has beaten Jerry Brown. He rocks AND rolls. about 2 hours ago from web
- Next up: Cal Controller John Chiang. about 3 hours ago from web
Donna is sending updates to the blog.
It’s all very interesting and in the case of Texas, in particular, is a real exercise in civics. We never learned stuff about the kind of efforts at voter suppression that have gone on in Texas in school. Eye-opening stuff. JavaJenn will be blogging her experience at Collin County’s convention — the only one postponed until tomorrow because of issues with venue and accessibility.
Technorati Tags: conventions, state, caucus, delegates, Texas, California, Momocrats
Sphere: Related ContentWhat Part of Unconstitutional Doesn’t the Press Understand?
Listen up, press corps!
When a Federal Court declares an election unconstitutional, it means the election results don’t count..
What that SHOULD mean to you is that you quit yammering about the Michigan delegates and THINK.
The challenge was not brought by a Democrat; it was brought by the AFL-CIO on behalf of the Green, Libertarian and Reform parties. It concerned issues of voter lists and which parties received them.
The judge ruled the primary law unconstitutional, the election results null, and specifically did not order a revote.
You still with me, press? What does that mean, you ask? It means there are no results from Michigan with which to seat delegates in any apportioned manner. Period.
Imagine the backlash politically as a result of unelected delegates being seated in an undemocratic and unconstitutional election by Democrats. Ugly. Really ugly.
So quit yakkin’ about the Michigan delegates. If they want to take a delegation appointed at a state convention and allocate those delegates half to each candidate, I’m sure that can be done. But there will be no apportionment based on an incomplete ballot and an unconstitutional election.
Got it? Good. So seriously, stick a fork in it because that dead horse is beaten and done.
Technorati Tags: Democrats, Michigan, delegates, primary
Sphere: Related ContentObama Works – Imagine the Possibilities
This is what I imagine when I think about the Obama campaign and what they have accomplished in terms of grass-roots participation. Tons of energy is being poured into voter registration, getting out the vote, and calling voters. Imagine that energy being poured into improving communities in small, significant ways. A group of young people in Philadelphia did just that, and are calling on all of us to do the same.
This is the power of the people at its positive best. This is what happens when inspiration hits. Music is written in many different keys, some of it recorded, some of it played live, all of it inspiring, all of it a credit to the person who is offering hope and inspiration. I’m trying to think of some specific way a similar project could be started and carried out here? Is anyone else? Leave suggestions or comments about what you’re doing.
Technorati Tags: Obama Works, community, service, words in action
Sphere: Related ContentThe Pattern
This just dropped into my inbox from the Clinton campaign:
Have you noticed the pattern?
Every time our campaign demonstrates its strength and resilience, people start to suggest we should end our pursuit of the Democratic nomination.
Those anxious to force us to the sidelines aren’t doing it because they think we’re going to lose the upcoming primaries. The fact is, they’re reading the same polls we are, and they know we are in a position to win.
Um, no. We’re anxious to force you to the sidelines because your smarmy campaign tactics are so ugly they turn my stomach, and also because you’ve already lost the nomination. Why do I want to contribute to your cause when it’s over?
The email goes on to try to make the case that the “other side” thinks they’re going to lose the upcoming primaries. What Hillary still isn’t getting is that they don’t matter. Not even a little bit, because she has lost the nomination. Obama could give her back the Florida delegates and she’d still lose the nomination.
Michigan delegates, by the way, will not come into play because a Federal court declared Michigan’s primary unconstitutional and did not order a revote. Don’t be fooled into thinking this is about any candidate not wanting to count votes. It’s purely a matter of constitutionality and is out of the control of Hillary, the DNC, and anyone else who postures about it.
Technorati Tags: Clinton, campaign, fundraising, primary
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