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Flotsam and Jetsam

Five to eight billion dollars buys a lot of pigs ears and kibble. Okay, maybe the inheritance tax shouldn’t be completely repealed.

John Judis defends his criticism of Barack Obama for courting the Teamsters by offering to lift governmental oversight despite ongoing concerns of corruption in the Teamsters’ Chicago local, writing:

And it is especially surprising that Obama, who has based his campaign on a pledge of good government, would make at least what appears to be a sordid bid for the Teamster’s endorsement. Either he is guilty of willful ignorance about a powerful segment of the Chicago political scene, or he is, for better or worse, another example of that well known species, politicus hypocriticus.

Dick Grasso proves that if you have enough money and guts not to cower before Eliot Spitzer, you can prevail.

Obama did “better than average” with a discounted home loan, but at least the funds didn’t come from a convicted felon.

I don’t buy that Barack Obama is seeking to emulate George W. Bush, but I do agree that all this flip-floppery shows that not even his campaign doubts most Americans are center/right voters when it comes to the presidency.

The New York Times provides some unintended levity, admitting that the pending foreclosure legislation is dumb policy, but somehow proves more government intervention (with more dumb policies?) is just what we need:

The foreclosure prevention bill is not a cure-all, by any means, but is a way to try to break the cycle. It would allow many troubled borrowers to exchange their unaffordable loans for new mortgages guaranteed by the federal government — as long as the lender agreed to reduce the existing loan balance to 85 percent of the home’s current value. It is questionable whether lenders would be willing to take the loss, and there’s nothing in the law to prod them to do so.Still, the bill’s passage, which should be the Senate’s priority next week, would be an overdue acknowledgment that the foreclosure mess requires government intervention.

If there are still over 16,000 left I don’t have to worry. Wait — 16,000?!



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