When home prices finally collapsed, these ticking time bombs exploded, saddling taxpayers with hundreds of billions of dollars of debt.
Sen. Richard Shelby • Saying why he thinks the financial reform bill should include Fannie Mae and Freddie Mac, two major mortgage companies that fell apart during the financial crisis. He thinks that the financial reform bill should do something about the mortgage giants, which he characterized as costing taxpayers significant amounts of money. During his statement, in response to Obama’s weekly radio address (which tackled health care’s successes), Shelby also criticized a proposed consumer protection watchdog bureau in the Federal Reserve for possibly raising costs for taxpayers. source
why? Blame it partly on Lala’s closing,
but we also think it’s a good
chance to reconsider our
short-form musical approach.
next We plan on trying different music features in the future. Our first was “Non-Expert Opinion.” We’ll keep you posted, guys. source
» Will the mixtape return eventually? Probably, but its form might change. We might also move it to Monday. Who knows? We might get lucky and iTunes will have a similar embed feature that uses HTML5 (hint, hint).
On the left: George Alan Rekers, a prominent anti-gay activist. On the right: A male escort who joined Rekers on a 10-day European trip. Oh boy.
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A 2003 ferry crash killed 11. The Staten Island Ferry crashed into the dock of the St. George’s terminal where it was coming into. “I felt this big boom, the whole building was trembling,” said Antonina Rose, who witnessed the crash from inside the terminal. Details are still coming in on this one. source
It’s a sad day when Glenn Beck (!) offers a more eloquent defense of constitutional rights than the normally statesmanlike senator from Connecticut.
Commentator David Frum • Regarding Joe Lieberman’s suggestion that those who show loyalty and support to terror organizations lose their citizenship. Frum notes in a number of ways why this is a stupid idea, specifically because there’s already legal precedent for this (the 1940 Nationality Act, which was limited in 1967 by the Supreme Court and expanded slightly by Congress) and that legal precedent would mean that the enemy combatant would have to go through a lengthy court case. Bet Lieberman didn’t think of that. source
one Bickhart was behind a Powerpoint presentation that compared Harry Reid to Scooby Doo and promised a fundraising campaign driven by “fear” of Obama.
two As a result of that Powerpoint, Bickhart’s compensation came under scrutiny. Dude got paid $370,000 over a nine month period – or more than the president.
three Then there was the strip club scandal. That little piece of drama caught the media’s attention and made Bickhart’s performance look even worse. See ya! source
Essentially, a giant bubble of methane made its way through the oil well, quickly moving through the drill column before exploding. So in other words, freak accident.
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10.5%the Nasdaq’s decline; it’s in a correction source
» Today’s action: It wasn’t much better than yesterday, honestly. The market bounced back and forth all morning before staying firmly in the down column. The Dow lost 140 points today, or 1.3 percent of its value. Sucks to own stocks, doesn’t it? source