Archive for June 4th, 2008


Attention cannibals: Do not eat Democrats

Alferd Packer was an American cannibal who was sentenced to prison in 1874. The judge was especially upset that he’d eaten Democrats. and, according to a local newspaper, said -

“Stand up yah voracious man-eatin’ sonofabitch and receive yir sintince. When yah came to Hinsdale County, there was siven Dimmycrats. But you, yah et five of ‘em, goddam yah. I sintince yah t’ be hanged by th’ neck ontil yer dead, dead, dead, as a warnin’ ag’in reducin’ th’ Dimmycratic populayshun of this county. Packer, you Republican cannibal, I would sintince ya ta hell but the statutes forbid it.”

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Massachusetts sue subprime lender Option One for racial discrimination

Charging that the subprime lender discriminated against blacks and Latinos by targeting them for the high-risk mortgages and by charging them higher application fees than it charged white customers.

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Obama on Israel

It’s the same old same old. Lefti on the News has direct quotes from Obama interspersed with humorous, biting commentary.

“There are those who would lay all of the problems of the Middle East at the doorstep of Israel and its supporters, as if the Israeli-Palestinian conflict is the root of all trouble in the region.”

Yeah, what a wacky idea.

There can not be peace in the Middle East until Palestinians have a place to call home. Seems simple enough to me. Until then they will be used as pawns by multiple governments (including Arab) for multiple ends and fanatics on all sides will continue to slaughter each other. Really, folks, what’s going on there now clearly isn’t working. If you want peace, all the players have to be at the table. Period.

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Court upholds Cuban Five convictions but vacates three sentences.

The three will be resentenced,  presumably to shorter prison terms.

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Why financial stocks could keep falling

A new FASB regulation means corporations can no longer, whether for legitimate reasons or otherwise, use special entities called QSPEs to keep transactions off their books. We’re talking trillions of dollars here that must come back on the books, presumably at least some it being losses.  Some companies and analysts are squealing about how this will hurt companies, but really,  this change is long overdue. The only way this regulation can be overridden is by a vote of Congress, who probably wouldn’t dare, even if they wanted to.

LIBOR three-month spreads are increasing. This means banks are getting nervous again about lending to each other.

While all this may seem arcane, it’s not. Both will affect us all in many ways, most notably through increased costs of borrowing and difficulties in getting loans or mortgages.

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Aftermath to Hillary Clinton’s non-concession

Jimmy Carter: Hillary as VP would be “worst mistake”

Dean, Pelosi, Reid set Friday deadline for superdelegates’ choices, move to force end to Clinton bid

CNN’s Jeffrey Toobin called her refusal “deranged narcissism,” while Huffington Post blogger Tom Hayden labeled it “political schizophrenia.”

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New England worried about heating oil prices for 2009

Real fear among many people I talk to locally. Those who aren’t wealthy can’t see a way to keep their homes heated and still afford to live in them. Those people with a couple of thousand in extra cash are opting for wood pellet stoves. My local wood stove retailer is seeing this, they used to sell a couple a week, now it is four or five a day.

We just moved back to California from Connecticut. Heating oil in Winter 2007 was $1.95 a gallon, which was considered very high. Our last bill (just before we sold the house) was on May 5 2008 at $3.72 a gallon. It was costing us $150 a week during the worst of winter with the thermostat set at 64 during the day and 55 at night. (We now live in the S.F. Bay Area where heating costs are way less and we don’t even have or need AC.)

An AP article says some heating oil suppliers are offering a lock-in prices for 2009 at $4.60. Yikes. The average home there uses 1,000 gallons a year, with the vast bulk of that in five months. So at $4.60 a gallon that works out to about $900 a month for the five months of cold weather or over $200 a week just to keep the house warm.

If these prices are not a bubble, then the Northeast is in serious trouble. Connecticut magnifies the problems by having extremely expensive electricity, nosebleed property taxes, and a comatose attitude towards energy conservation, efficiency, and planning for the future. Yet state government continues to appoint committees to determine why the young are leaving the state. That’s what I mean by comatose. The reasons are obvious. They can’t afford to stay and not much is going on anyway. (I grew up in Connecticut BTW.)

There were numerous reports in the media of people unable to pay heating bills or forced to keep the house at 55 degrees (or less) all the time and wear a hat and coat inside constantly.

What will they do next year if prices rise more? This is a regional problem that requires a regional (or national) solution. One big problem, at least in Connecticut, is that there are no county governments or regional authorities (except for a few water boards.) Instead you have the townships, who steadfastly and proudly refuse to share power or join forces with any other township, and the state government, and no entities in between the two. Such a quaint system might have worked in colonial times, but The World is Flat now, and dealing with a serious ongoing energy crisis will require cooperation, new ideas, thinking outside the box, and most of all, a regional plan. The alternative is to freeze in the dark.

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South San Francisco

These concrete letters are on a hill near where we live, and visible for miles. The industrial base is fast giving way to gentrification, however Wikipedia notes that “South San Francisco is considered to be the birthplace of the biotech industry.”

The city is separate from San Francisco, just a 10 minute BART ride away, and known as “South City” to all.

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