Disqus - Latest Comments for RichardfromHB

Re: Jump in Foreclosures Reaches Historic High in March

RichardfromHB — Mon, 20 Apr 2009 11:23:10 -0000

Larry Summers was specifically asked on Meet the Press about foreclosure assistance. He just went to his "get the overall economy jump startrd" talking point. He never mentioned foreclosure assistance in during the lengthy interview. This is not a man of the people.

Re: Norm Coleman's never-ending death row appeal

RichardfromHB — Wed, 08 Apr 2009 12:34:43 -0000

The Minnesota Supreme Court, when it refused to order that Franken be seated before the election contest was completed, did a lot of thinking, and writing (see http://www.courts.state.mn.us/opinions/sc/curre... ) about when an election must be certified. In short, there's not a lot of doubt that Pawlenty must sign the certificate when the state court contest is over. Minnesota Law (Minn. Stat. § 204C.40, subd. 2) does not allow him to wait "years" for Norms federal suits to be finished. Here's what the Minnesota Supreme Court said with Slip Opinion Page citations.

Page 16:

The plain language of Minn. Stat. § 204C.40, subd. 2, provides that no election certificate can be issued in this Senate race until the state courts have finally decided the election contest pending under chapter 209.

Page 11:

The term “contest” in Minn. Stat. § 204C.40, subd. 2, refers to contests initiated pursuant to the general election laws of this state—that is, chapter 209—and not to the potential continuation of that contest into the United States Senate.

Seems pretty clear, and good for Al, that Governor Pawlenty must certify the election after the upcoming state supreme court appeal. Without that certification, Pawlenty is not acting in the manner which the law specifically requires, and denying his constituents their second US senator. Would Minnesotans like that?

So, the only way for Norm to use up his newly found $30,000 ceiling on individual election contest contributions is to get an order from the federal courts that prevents Pawlenty from issuing any certificate. If the order, called a "stay" is denied, the fight is over and Al gets seated as a matter of law. Let's all hope that Al's lawyers are researching the federal stay cases for every argument.

Interestingly, Pawlenty today is quoted agreeing with my analysis that the certification only waits for the conclusion of state court appeals, but expects it to take a "few more months". http://washingtonindependent.com/37489/pawlenty...

Re: Bankruptcy Reform Meets Unlikely Foe

RichardfromHB — Wed, 28 Jan 2009 14:25:39 -0000

I have personally witnessed many of my acquaintences in the OC who had been employed in the sub-prime mortgage field, now switch to staffing the weekend auctions of foreclosed properties.. I wonder if they see anyone that recognises them as double bottom feeders. Good riddance to Ameriquest and all their ilk.

Re: Citibank adding new $50 million jet to corporate fleet

PacificGatePost — Wed, 28 Jan 2009 00:42:46 -0000

It's easy to reply to public pressure. What is wrong is that the agreements controlling these bailouts are, .... where and what exactly?

Re: Citibank adding new $50 million jet to corporate fleet

RichardfromHB — Tue, 27 Jan 2009 15:51:20 -0000

Huffington Post is reporting that Obama nixed this.
http://www.huffingtonpost.com/2009/01/27/obama-...

Re: "Semi-nationalization" is out and "nationalization" appears to be in

RichardfromHB — Fri, 16 Jan 2009 17:17:22 -0000

We're debating terminology, Gemany wants an "I'm sorry," from their bankers. German President Horst Köhler, former head of the International Monetary Fund. asked bank managers to apologize for their role in the financial crisis. http://www.spiegel.de/international/business/0,... Accountability seems outside the lines being discussed to date. Even Bernie Made Off with Your Money is under house arrest in his luxury home. What to do; surprise, corporate interests control America. And by the way, the US Supreme Court defines corporations' first amendment rights to include campaign contributions. So we're doomed to the best politicians that money can buy.

Re: New Yorkers Favor Cuomo to Replace Clinton -- Political Wire

Canary_in_coalmine — Fri, 16 Jan 2009 11:36:44 -0000

Are they limiting the poll to NY voters ONLY??? The numbers are quite different when that is taken into consideration.

Re: New Yorkers Favor Cuomo to Replace Clinton -- Political Wire

Klaus — Thu, 15 Jan 2009 21:07:26 -0000

Looks like either of them would do fine. Paterson needs to go ahead and pick which of the dynasties he prefers.

Re: New Yorkers Favor Cuomo to Replace Clinton -- Political Wire

RichardfromHB — Thu, 15 Jan 2009 20:21:04 -0000

Over at Daily kos:
Research 2000 for Daily Kos. 1/12-14. Likely voters. MoE 4% overall, 5% for Democratic oversample (No trend lines)

Approval/Disapproval/No opinion

Cuomo (D) 53/26/21
Kennedy (D) 58/32/9
Israel (D) 17/6/77

King (R) 39/41/20
Giuliani (R) 38/56/6

Democratic head-to-heads

Kennedy 31
Cuomo 26
Israel 2
Undecided 41

Unlike polling from Quinnipiac and PPP (PDF), this R2K edition shows both Cuomo's (+27) and Kennedy's (+26) net favorability to be nearly identical.

Re: Bush Obama now talking $300 bn in tax cuts

RichardfromHB — Mon, 05 Jan 2009 15:46:50 -0000

If we deficit spend enough to make China nervous about the real value of all our debt, we will spend our way into national bankruptcy. I see an Argentina style debt nationalization in our future, because we won't be willing to make the tough belt-tightening needed in the future to pay off the debt. Any politician that proposes it would be thrown out of office. We could stave this off somewhat with a carbon tax on gas etc., a return to actually taxing high income persons, or other income measures. Enron paid NO tax in the last five years of its existence, but had almost 800 off-shore penergy trading "partnerships" which were totally legal, and donated 1/4 million to Bushes inaugeration committee. It's cheaper to buy influence than pay taxes. As Ross Perot said so long ago: The problem is that no one wants to pay for the party.

Re: Cabinet Watch: Janet Napolitano

RichardfromHB — Fri, 21 Nov 2008 13:56:55 -0000

Recent news has McCain strongly in favor of her appointment. This is smart stuff by Obama who is courting the maverick McCain on many levels, even forgiving/protecting his best friend in the Senate, Lieberman. There is no such thing as the "magic 60" for Obama, and I bet the two moderate republican Senators from Maine get a lot of love too.

Re: McCain Eager For Napo To Head To DHS

RichardfromHB — Fri, 21 Nov 2008 13:48:15 -0000

This is smart stuff by Obama. While the MSM are tittering about the 60 seat control in the Senate, Obama is courting maverick McCain on several fronts. I bet the Dems give the two moderate republicans from Maine a lot of love too.

Re: Time to boycott Utah, and Marriott?

RichardfromHB — Wed, 05 Nov 2008 17:17:36 -0000

The Mormons also sponsor about 75% of the Boy Scout Troops in the US.

Re: What's Next

RichardfromHB — Tue, 04 Nov 2008 15:10:46 -0000

Getting Obama in is just the start; there is much work to do. We have to clean up the Bush end game which is threatening to just plunder the country. Paulson is negotiating the purchase of stock and warrants at about twice the going market rate. This gives about ½ of the taxpayer’s money to Goldman Sachs, his old employer, and the other banks involved right away. Check it out at: http://www.thenation.com/doc/20081110/greider2
We have to spur them for more help on home foreclosures. Obama took a public position favoring a home loan modification program administered by Bankruptcy judges be included in the bailout/rescue. Reps said thanks, but no thanks to the proposal and it was transformed into a toothless program without the judges. Obama lobbied Dems for support basically saying that the proposal could be brought up again after the election when they would likely be in a stronger position. Fast forward. 7.5 million home owners are under water, where they owe more than their home is worth and the number is going up. Check it out at:
http://money.cnn.com/2008/10/30/real_estate/und...
We're now looking at 80,000 home foreclosures a month with more ARM resets to occur over the next three to four years. Check it out at:
http://money.cnn.com/2008/10/23/real_estate/for...
The nationwide Help for Homeowners program modified a total of 42 mortgages in the first half of October 2008. Check it out at: http://www.housingwire.com/2008/10/31/questions...
An early recipient of bailout funding, PNC Financial took Billions of funds and promptly bought up a competitor. Check it out at:
http://www.mlive.com/businessreview/annarbor/in...
Then PNC opposed any modifications of mortgages it holds, claiming a constitutional right against "impairment of contract". What's really going on? Existing Federal law for years has given bankruptcy judges the power to modify mortgages for second, vacation, or investment homes (and luxury boat loans) so that the debtors can keep them after declaring bankruptcy; but not primary residences. Reps claim its "socialist" to have the same protection for folk that actually live in the home. Redistribution to the elites justified with a "trickle-down" is good, but life as we know it will end when the theory is modified to a bottom-up approach? The vast number of non-performing mortgages could be restored to some level of performance, and their derivatives could hence regain value using an effective mortgage modification program. It is unlikely under the current administration where Sec. Paulson gives away $7.7 Billion bonus to PNC Financial to do mortgage modifications and doesn't require that ANY mortgages actually be modified for our kid's Billions. Check it out at:
http://seekingalpha.com/article/101965-hedge-fu...
Similarly, Chase is taking it’s bailout and holding it for acquisitions instead of lending it out to consumers, builders, factory owners, etc. Check it out at:
http://www.nytimes.com/2008/10/25/business/25no...
Moreover, the firms that are bailed out are using taxpayer funds to raise year-end bonuses and executive salaries. Check it out at:
http://www.time.com/time/business/article/0,859...
http://www.bloomberg.com/apps/news?pid=20601109...
($20 Billion in bonuses to be paid this year in two firms)
Also Goldman Sacks:
http://www.dailymail.co.uk/news/worldnews/artic...
AIG spent Billions in dividends through first ½ of 2008: http://www.slate.com/id/2203416/
There's still a lot of work to do.

Re: BREAKING: AP: Sarah Palin Abused Her Power

RichardfromHB — Fri, 10 Oct 2008 22:01:06 -0000

Monegan may get himself a "golden parachute" Sarah may have given him a cause of action for damages for wrongful termination. It is enough to make out a case for Monegan if the refusal to terminate the trooper was a "substantial" or "motivating factor" in her descision to terminate him. Methlin v. Bartholomew (Alaska 1998) 971 P.2d 151 at page 154. And there are lots of similar cases.