The Senate has passed a pork laden version of the Wall Street Welfare bill. Included for fun are provisions like this: SEC. 503. EXEMPTION FROM EXCISE TAX FOR CERTAIN WOODEN ARROWS DESIGNED FOR USE BY CHILDREN. (a) IN GENERAL.—Paragraph (2) of section 4161(b) is amended by redesignating subparagraph (B) as sub301 paragraph (C) and by […]
During late August and Early September, the Halifax Bank of Scotland (HBOS) began to collapse. The UK was eager to prevent this at all costs, as Halifax bank is a major player in the UK. In a deal brokered in part by UK Prime Minister Gordon Brown himself, Loyds TSB would buy out the Halifax […]
Readers will recall that I have been against the massive, wasteful bailout bill that is still before congress. My position has been that the $700 Billion allocated cannot and will not fix the problem, if for no other reason than the problem is several orders of magnitude larger than that figure. This collapse is powered […]
Plus ça change, plus c’est la meme chose: “I am often made aware of the utter uselessness and folly of seeking to vindicate my character…from the simple fact that although foul aspersions can be bruited far and wide, held to the fluttering breeze by every press and rolled as sweet under every tongue, yet while […]
I know there are plenty of folks (somewhere) who think that throwing $700 Billion down a deep debt hole was going to fix things. Let me help you out. Consider the graph below from Credit Suisse What this shows is that the first rate resets for the Subprime loans has mostly passed. So people who […]
So it seems that the biggest boondoggle of them all is in the pipeline to become law. Crooked high dollar investors are about to be forgiven of all they owe from bad debts, with the cost transfered to the common taxpayer. This is often referred to in economic circles as a “Moral Hazard“. Wikipedia puts […]
Not many marriages last 50 years, particulary not in Hollywood, and especially not when both parties are well-known actors. But Paul Newman and Joanne Woodward managed that on a very public stage, and the montage of clips below gives you an idea of the fire in the dance: Hat tip to American Digest. ..bruce w..
Sadly, there is no surprise that the current government is stalking it’s way towards the largest block grant to the wealthy ever. Word from the press that the congress has come up with a $700B plan to save the bank accounts of people who make more money in a day than many folks will see […]
Like Phil at Bad Astronomy, I’ve always been intrigued by Antarctica and have wanted to visit there. But this video clip gives a brief — but sufficient — glimpse into the cold, dark, windy hell that Antarctica can be: http://view.break.com/487339 – Watch more free videos Wowza. That looks like “ten steps and die” weather. ..bruce […]
Another perspective on the continuing crisis
There will come soft rains and the smell of the ground, And swallows circling with their shimmering sound; And frogs in the pools singing at night, And wild plum trees in tremulous white; Robins will wear their feathery fire, Whistling their whims on a low fence-wire; And not one will know of the war, not […]
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