Diminished Expectations isn't my first effort, and while it is flawed and prone to excess from time to time... its a lot better than this.
h/t The wife...I had forgotten about it.
Sunday, December 14, 2008
Obama is ineligible to be president because he was born outside the United States. If he was born outside the United States or U.S. territories, this might indeed have been a legitimate Constitutional issue. The problem with this theory is that no one has been able to provide any credible evidence that Barack Obama was born anywhere other than Hawaii. Claims that he was born in Kenya have been based on fanciful claims woven out of thin air and a faulty translation of a conversation with his grandmother purposefully taken out of context. There is no documentation or testimony to support this claim. None.
The two government-sponsored mortgage giants have long maintained they were merely unwitting victims of a financial act of God. That is, while the rest of the market went crazy over subprime and "liar" loans, Fan and Fred claimed to be the grownups of the mortgage market. There they were, the fable goes, quietly underwriting their 80% fixed-rate 30-year mortgages when -- Ka-Pow! -- they were blindsided by the greedy excesses of the subprime lenders who lacked their scruples.
But previously undisclosed internal documents that are now in Mr. Waxman's possession and that we've seen tell a different story. Memos and emails at the highest levels of Fannie and Freddie management in 2004 and 2005 paint a picture of two companies that saw their market share eroded by such products as option-ARMs and interest-only mortgages. The two companies were prepared to walk ever further out on the risk curve to maintain their market position.
Read the whole thing.
An Italian TV station has aired the film Brokeback Mountain for the first time, but with one noticable difference. All the love scenes between Heath Ledger and Jake Gyllenhaal's characters had been cut!
This is roughly analogous to cutting the crime parts out of The Godfather. As the kids say ...LOL.