Showing posts with label sub prime loans. Show all posts
Showing posts with label sub prime loans. Show all posts

Friday, November 7, 2008

Kennedy


I picked this up from an investment newsletter I get on a regular basis, although it had already made the news a few months back. Politics as usual....

Voters in Massachusetts have expressed overwhelming support for an energy-producing wind farm project that has been opposed by Sen. Ted Kennedy. The Cape Wind Project would erect 130 windmills in Nantucket Sound, off the coast of Massachusetts, and could provide three-fourths of the power needed by Cape Cod and nearby islands, which is now largely supplied by coal-fired plantsThe Cape Wind Project has been "frustrated at every turn by a handful of yachtsmen, Kennedy included," wrote columnist Froma Harrop, who is on the staff of the Providence Journal. A book by Peter Schweizer, "Do As I Say (Not As I Do): Profiles in Liberal Hypocrisy," also disclosed Kennedy’s efforts to torpedo the wind farm. "The Cape Wind Project would be built in Nantucket Sound, about six miles off the coast from the Kennedy compound in Hyannis," Schweizer explained."The problem was not aesthetic; the Kennedys wouldn't be able to actually see the turbines from their home. Instead Robert Kennedy Jr., who had been beating the drum for alternative sources of energy for more than a decade, complained that the project would be built in one of the family's favorite sailing and yachting areas."
– NewsMax

That's not the Kennedy castle on the left - it's an old European castle with a huge, protective moat around it. The Kennedys don't need a moat, they have something a lot better - friends in very high places.

Friday, September 19, 2008

High Finance again


We can now all relax. Uncle Sam has decided to bail out whoever got into hot water with all the sub-prime lending done in the last five years. AIG, Bear Stearns, Merril Lynch, Fannie Mae, Washington Mutual - you name it. The government can do it because it can either print money or issue bonds. Unfortunately, most of the bonds will be bought by foreign governments, not U.S. citizens. That's the scary part. The stock market is up so the hemlines will be going up too. It's not all gloomy news. Now, real estate has to pick up again, but builders need financing, too. It's up to the banks now. Please.