Archive for February, 2009

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Gates of Vienna News Feed 2/23/2009
Our IV of email has been reconnected, and tips from the usual suspects are trickling back in. Check out the news stories from the UK — the behavioral sink, the financial crisis, fears of civil disorder, and the decline of the Labour Party, all mixed together. Thanks to Aeneas , C. Cantoni, Craig Karpel, Fjordman, Gaia, Henrik , heroyalwhyness, JD, KGS , Samhaldsfestarin, TB, Vlad Tepes , and all the other tipsters who sent these in. Headlines and articles are below the fold. - - - - - -

(AFX UK Focus) 2009-02-24 02:31 UPDATE 3-U.S. House to take up housing bill on Thursday (Interactive Investor)
WASHINGTON, Feb 23 (Reuters) - The U.S. House of Representatives is expected to vote on a bill on Thursday that would let bankruptcy judges erase some mortgage debt for troubled homeowners and shield mortgage servicers modifying loans from bondholder lawsuits. According to a summary, the legislation would also strengthen the capacity of the Federal Deposit Insurance Corp to deal with bank …

UK home repossessions rise to most in 12 years (Gulf Times)
LONDON: UK home repossessions rose to the highest since 1996 last year and may almost double in the next 12 months as Britain’s recession deepens, the Council of Mortgage Lenders said.

Five-point plan for big fat bonuses
February 21, 2009 – 9:56 am lFrom Pia Holm. I WOULD like to add my own comments to the article ‘Action group plan for cheaper mortgages’ of 11 February and congratulate Joe Castellino for his commendable proactive approach.Jersey Home Loans have in my opinion misled customers when they sold them a variable mortgage. It is entirely reasonable for customers to assume that rates would move in line with market indices, hence the word variable. Every mortgage provider in Jersey, and indeed the UK, ha

Sins of the Fathers
by John Needham, The Daniel Code Report | February 23, 2009 Print Linear thought is simple. We all get 2+2 = 4. What is not so simple is to reach the right answer when variables are involved. Hence to solve 2+X =Y requires assumptions, cognizance and eventually recognition. Nelson’s genius enabled him to measure truly the consequences of any decision. That genius worked on precise practical data…He felt he knew what would happen in a fleet action. Jellicoe did not know. Nobody knew…. Wins

From prudent to an imbecile in one foul swoop?
From prudent to an imbecile in one foul swoop? 2009 February 22 1 Comment tags: BBC, Britain, British Politics, Gordon Brown, Just Stupid, UK Politics by Will Rhodes A long time ago in a country far, far away a crisis hit the country which almost led to its demise. It all started on a very bright day for some bright spark who thought that leaning more money than a house was really worth would be a good idea - and then others began seeing that this was working, but didn’t look to the long

(AFX UK Focus) 2009-02-18 17:20 TEXT-Obama speech on home mortgage crisis (Interactive Investor)
Feb 18 (Reuters) - The following is the full text of President Barack Obama’s speech on his plan to combat the U.S. home mortgage crisis as prepared for delivery at 12:15 EST/1715 GMT. “I’m here today to talk about a crisis unlike any we’ve ever known — but one that you know very well here in Mesa, and throughout the Valley. In Phoenix and its surrounding suburbs, the American Dream is being …