ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Straws in the Wind 11-8-07

Updated on November 8, 2007

Straws in the Wind

Foreboding Headlines this morning:

Markets and Dollar Sink As U.S. Slowdown Grows; Homeowners Feel the Pinch of Lost Equity; Dow Falls 360--Oil is Pushing Gas Prices; House of Representatives Backs Broad Protections for Gay Workers; Ohio Goes After Failing Charter Schools; New York Attorney General Investigating Mortgages; Southwest Airlines Ends Open Boarding Policy--Business class fliers to get preference; Flying greatly increases risk of blood clots.


The Dow is down 187 points at 1:pm and NASDAQ has dropped even more as the decline has spread to the tech sector of the market. The talking heads on CNBC are debating whether we are headed for a recession. Maria Bartiromo commented that someone said "We can live with $100/barrel oil but what about $200/barrel oil--December 2008 oil futures are going for $200/barrel." Pessimism appears to be rife on Wall Street today.


NY attorney general, Andrew Cuomo, has subpoenaed Fannie Mae and Freddie Mac over what he calls "widespread collusion between real estate appraisers and lenders, including Washington Mutual, to inflate home values. "We believe it is widespread. It is prevalent," Cuomo said. First American, the country's largest title insurer is under investigation for artificially increasing appraisals in order to get Washington Mutual's business. And so the rot spreads increasingly throughout the mortgage industry from top to bottom. Somebody should do a story on honest mortgage lenders and appraisers if they can find one!


Bernanke calls on Congress to loosen FHA lending requirements; says subprime crisis is impacting wider economy; points out that creditworthy borrowers with subprime adjustable rate mortgages are finding it difficult to refinance their mortgages; advises people behind in their mortgage payments to contact their lenders ASAP and try to work out their situation short of foreclosure. He said banks are saying that borrowers frequently don't respond to their notices or attempts to reach people in trouble with their mortgages.


Cracks in the GOP base appeared this week as wingnut Pat Robertson announced his support for plain nut Rudy Giuliani despite Giuliani's past support for abortion and gay rights and his three marriages, while arch GOP movement conservative Paul Weyrich endorsed Mitt Romney and conservative right candidate, as he withdrew from the race for the GOP nomination, announced his support for John McCain. And many evangelicas are supporting Mike Huckabee as well as Chuck Norris for whatever that's worth. (Not much!) Is the GOP policy of sharp divisiveness based on race and cultural issues devised by Newt Gingrich and honed to a razor's edge by Tom DeLay coming unglued? Too early to tell for sure but it sure appears so.


Bernie Kerik, Mafia-connected NYC police commissioner under Giuliani and his business partner, was criminally indicted today for tax fraud, conspiracy and corrpution. On Giuliani's recommendation, Bush nominated Kerik for head of Homeland Security but he was withdrawn after the roaches started crawling out of the woodwork.


    0 of 8192 characters used
    Post Comment

    No comments yet.


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)