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June 30, 2009

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Thomas Collins

OMG, WTF, BFF TM, ur taking LAT 2 sereasle!!! :-))

fdcol63

Here's a really absurd hypothetical:

What if we had a genuinely objective, fair and balanced press instead of overtly biased, liberal and partisan Democrat Party shills?

William Teach

I love this quote

“A curious thing is at play here,” Seglin continues. “Few people expect TMZ or Drudge or the National Enquirer to get things right or to report on issues of substance.

Nowadays, we do not expect the MSM to report on issues of substance, either. Through yesterday, it was still all MJ this and MJ that. Friday that is all you could get, despite one of the most important bills ever up fro vote in the House.

fdcol63

" ... Friday that is all you could get, despite one of the most important bills ever up fro vote in the House ..."

It's almost as if they wanted to divert our attention, huh?

Jane

Has technology’s ability to deliver information at such a rapid pace corrupted us?

It certainly hasn't corrupted the LA Times since it ignores all the news that doesn't benefit Obama.

Sue

“A curious thing is at play here,” Seglin continues. “Few people expect TMZ or Drudge or the National Enquirer to get things right or to report on issues of substance.

Few people expect the NYTs, the WaPo and LA Times to report on the magnificent abs of POTUS or the unbelievable guns on FLOTUS either. But they did and do. How do you tell one medium from the other? They both report on fluff.

matt

After reading so many stories in the LA Times over the years that were liberal/left fantasies, I canceled my subscription 2 years ago. There is little of substance as they have cut back on coverage to save money, but I do like to read their sports page on line.

fdcol63

The day after Obama won the election, I canceled my newspaper subscription.

Other than keeping track of the obits which I now do online, I haven't missed it at all.

Rick Ballard

Good news - Ras has Ogabe at -2. The trend in that data set is encouraging.

Danube of Thought

Hilarious. TM, you're on a roll.

Ras Index at minus two tosay.

narciso

This stupid MJ idiocy, which has for the while, cost Fox it's marquee spot is in keeping with it's Hearst populist half, as opposed to it's Lucean more staid half. Their counterparts with theNewhouse/Chicago Tribune with the exception of John Kass, where have they been hiding him, would make James Gordon Bennett gag.

Than again, the Enquirer, for their scoops on Edwards, has gotten practicallyeverything
wrong about her, as it's more upscale
relative VF has done. It's almost as if it is genetically impossible to get the facts on an honest public figure; since they have no experience at it. BTW if JM is around, from the twitter:

I dont support Waxman-Markey bill; I'll work w/AK Senators & others to address concerns, lacks flexibility needed to protect enviro & develp

GMax

Not only -2 but an overall +8 which is an all time low for him. And his strongly approve is now at 31% which is another all time low.

Its the Jimmy Carter impersonations. First with no preconditions Iran and vote fraud followed by brutal oppression, and then followed by the stunning encore of being an echo chamber for Castro and Chavez re Honduras. The Supreme Court ordered the lefty to cease and desist and finally had to ask the military to enforce their order. Obama reflexively sides with the brutal fascist dictator sentiment. Was it a tell on where the guy comes at every problem ?

Regardless, the public is figuring it out, and the blue dogs racing away from supporting Crap and Charade wont help.

Neo

Given that Congress had mistakenly gone into early mourning months before, I guess then that it's a good thing that Bob Hope finally died.

Parking Lot

((A curious thing is that neither the LA Times nor Mr. Seglin want to mention the John Edwards debacle, broken by the unexpectedly accurate National Enquirer after the national media turned a blind eye to the possible implosion of a major Democratic candidate.))

Maybe I'm dreaming about a time that never was ... time when journalists were like Clark Kent -- they lived for big scoops for the scoop's sake. Now the only scoops the legacy papers are interested in is hitting their poltical enemies. The tabs, meanwhile, for all their UFO sighting stories, don't care who they hit, and in that way the tabs are closer to honest, classical journalism than the snooty legacy papers.

Everyone mocks both the print and online tabs but like Regina Spektors Song 'Laughing at God,' people laugh at God at cocktail parties but no one laughs at God in a hospital; we laugh at the tabs when in line at the supermarket, but we don't laugh at the tabs when they break an important story.

When the online legacy media makes excuses for why they were scooped it begs the question, What if the online (and print) tabloids valued ivory tower politics above profit? John Edwards' dirty secret would now still be a secret and the tabs would now be bankrupt like the legacy newspapers.

Cecil Turner
Matt Drudge reported information on the Monica Lewinsky affair that Newsweek had been sitting on.
And broke the "blue dress" bit that proved it beyond a shadow of a doubt. And, of course, the Enquirer broke the Edwards affair that wasn't much of a secret . . .

But that's different. Those stories were available to the MSM, they just didn't care to cover 'em. They actually got beat on the Jackson thing, and apparently it stings.

Rick Ballard

GMax,

More cheer. The Bemuddled's generally punish and reward based in part on the movement of gas prices. Joe and Josephine punishing Ogabe with gas prices falling is a very good sign.

Watch for some jugging of the unemployment rate on Thursday. I believe we'll see another load of temp hires for the census tossed in to shave a tenth or two.

Parking Lot

((But that's different. Those stories were available to the MSM, they just didn't care to cover 'em. ))

of course they would have gladly covered a 'blue dress' story about Bush if they could have dug one up

Parking Lot

((OMG, WTF, BFF TM, ur taking LAT 2 sereasle!!! :-))))

ROFL

narciso

I mentioned that "Vanity UnFair" piece earlier, Geharty of the Campaign Spot has this rejoinder to Purdum's supposed insights:

Telepathy is a great and rare gift, and I envy reporters who have been granted it through genetic mutation.

Presuming that Purdum has not been studying at Xavier's School for Gifted Youngsters, would you look at Palin's behavior, tone, schedule, and activities since the conclusion of last year's campaign and characterize her as "tired and resentful"?

Danube of Thought

Spot on with the Clark Kent scoop thing, Parking Lot. It's a very fundamental change that's taken place, and it's now just about universal. The NYT and its wannabes have no interest in scoops that hurt Dems.

In addition to the good news from Ras, I came across this tidbit from Newsweek.com that is certain to bring a fiendish grin to the faces of many JOMers:

"The severity of Madoff's sentence changes his options. A lighter sentence might have allowed Madoff's team to negotiate his placement from medium security to low, based mostly on his age and notoriety, says Ellis; a 150-year sentence means he will now have to lobby to go from high security to medium. Medium security facilities look similar to low-security institutions, but the inmates are much more likely to be inside for violent crimes. If Madoff gets medium security, says Webster, 'He will be assaulted, there's no doubt about that.' It's that much of a certainty? 'God, yes. Oh, God, yes.'"

God yes!

Ignatz

Speaking of Madoff,

I see that 1300+/- people have filed claims totalling $13B+/-.
That's an average of $10 million per, not exactly chump change.

Wonder how many who invested with him really were poor dumb widders an orphuns and how many were sharpies who knew pretty well what was going on.

GMax

RB

Hard to fiddle with unemployment data for long, as its constantly revised and temp employment might smooth a bit but it cant be enough to really change perception, which is what really is driving the sobering of the muddle. Their perception is driven by all those folks they know that are unemployed now, and are not finding prospects and saying so at the local grocery or fill up lines. Since employment lags recovery, it will continue for some time.

And raising the muddle's utility bills, taxes and well just about everything that they can think of, is not going to change the perception in the least.

-10 by Christmas. Hide and watch.

bear1909

Ignatz said: "Wonder how many who invested with him really were poor dumb widders an orphuns and how many were sharpies who knew pretty well what was going on."

I know for a fact that an early-comer to the Madoff ponzi scheme, investing $5 million, was drawing $30,000.00 per month.

One of the first investors, a couple from New York, who recruited new investors for BM, said on tape in a documentary airing on PBS "We thought that God had chosen this for us to have."

My point: the glare of a $30,000.00 check in one's mailbox each month for years, and belief in Divine Providence to reinforce one's sense of entitlement to such riches IS BLINDING.

Now comes the financial detox phase. Only the strong will continue to build their lives. Many will perish as their cash jones drives them to lives of destitution and crimes trying to get that financial needle back into their veins.

Many banks, foreign and domestic were defrauded also, as well as charities and group investment organizations.... no telling how the small investors within those groups are faring.

But there were plenty of individuals who were in for $5 and $10 million each, who lost 50-75-100 percent of their "nest eggs". Grim reaping to be sure.

I know some 95 and 96 year old retirees who lost every cent. They were getting paid handsomely but no more. Evil? Naive? I don't really care.

What I do care about is the evaporation of private wealth in the face of a Federal Government that has produced a debt load that figures to be 90 per cent of GDP.

Indentured servitude is re-emerging here in the Colonies of Barry Soetoro and George Soros. Private individuals will not be able to pay their staggering state and federal tax bills let alone pay their heating and AC bills.

I am sure the government will have a "lifestyle" plan in order to help those in a pinch.

Get ready. Madoff provided the lube.

Bear1909 out.

Jim Rhoads a/k/a vjnjagvet

Bear's comment provoked me to put two and two together:

Obama is pulling a Madoff, only bigger.

peter

((OMG, WTF, BFF TM, ur taking LAT 2 sereasle!!! :-))))

ROFL

I confess, I had to look up BFF. (But I am so out of touch, I thought the Billy Mays who died was Sinatra's arranger in the late fifties.)

Parking Lot

((My point: the glare of a $30,000.00 check in one's mailbox each month for years, and belief in Divine Providence to reinforce one's sense of entitlement to such riches IS BLINDING.))

I disagree ... 6 per cent return on 5 million is $300,000 pa, or 30k a month for ten months ... and they probably were reinvesting a portion of their monthly $30K back into the Ponzi scheme, so I don't think the returns would have seemed that unrealistic to them. They probably worked hard for the first 5 million they invested, how sad to be ripped off by a con artist. No punishment for Madoff is good enough.

DebinNC

Dr. Melissa Clouthier asks , "Does the middle class and working poor know what the Democrats are doing to them?"

Hopefully, reality will eventually penetrate the msm's We ♥ Dems Curtain.

DebinNC

**Correction: "Do the middle class and working poor..." Sorry, Dr. C.

PeterUK

"Maybe I'm dreaming about a time that never was ... time when journalists were like Clark Kent ".

Some obviously still wear their shorts over their pants.

Parking Lot

(((But I am so out of touch, I thought the Billy Mays who died was Sinatra's arranger in the late fifties.)))

tttt :)

Buford Gooch

"I know for a fact that an early-comer to the Madoff ponzi scheme, investing $5 million, was drawing $30,000.00 per month. "

That's only a little above a 7% return, isn't it? That doesn't seem outrageous, based on Buffet et al.

clarice

OT--for Palinophiles from the Weekly Standard:
"Kristol: Liberal Media and GOP Hacks vs. Palin
Lefty journalist Todd Purdum has a hit piece in the new Vanity Fair on Sarah Palin. You don’t have to be a big Palin fan to recognize the article is full of dubious claims, and is dependent on self-serving stories provided on background by some of the people who ran the McCain campaign into the ground.

Here’s a highlight of Purdum’s reporting: “More than once in my travels in Alaska, people brought up, without prompting, the question of Palin’s extravagant self-regard. Several told me, independently of one another, that they had consulted the definition of ‘narcissistic personality disorder’ in the Diagnostic and Statistical Manual of Mental Disorders--’a pervasive pattern of grandiosity (in fantasy or behavior), need for admiration, and lack of empathy’--and thought it fit her perfectly.”

Is there any real chance that "several" Alaskans independently told Purdum that they had consulted the Diagnostic and Statistical Manual of Mental Disorders? I don’t believe it for a moment. I’ve (for better or worse) moved in pretty well-educated circles in my life, and I’ve gone decades without “several” people telling me they had consulted the Diagnostic and Statistical Manual of Mental Disorders.

Meanwhile, on the day Purdum’s piece hit the web (today), a journalist who had expressed suspicions in the past that elements of the McCain campaign had undercut Palin suddenly got a friendly e-mail from top McCain-Palin campaign strategist Steve Schmidt. This journalist hadn’t heard from Schmidt in months. Perhaps Steve was nervous someone would finger him for the Purdum piece. One reason people might do so is this passage in Purdum’s article: “All the while, Palin was coping not only with the crazed life of any national candidate on the road but also with the young children traveling with her. Some top aides worried about her mental state: was it possible that she was experiencing postpartum depression? (Palin’s youngest son was less than six months old.)” In fact, one aide who raised this possibility in the course of trashing Palin’s mental state to others in the McCain-Palin campaign was Steve Schmidt.

Posted by William Kristol on June 30, 2009 12:17 PM | Permalink
"

JM Hanes

OK, so I'm clueless, but what is TMZ?

Parking Lot beat me to it -- "speed over confirmed facts," formerly known as "scoop."

narciso:

I'm not sure whose twitter you were quoting? I just ran across this blow-by-blow account of passing Waxman-Markey, including a suggestion that Team Obama was multi-tasking at the luau.

Thomas Collins

JMH, see LUN for the answer to your query about TMZ.

Parking Lot and peter, thanks for noticing my Millenial Generation foreign language skills. I developed these skills while looking over the shoulders of my kids as they did the instant messaging and texting "thingies" (as they might refer to them). :-))

PeterUK

Clarice,
A lot of journalists are alcoholics.

clarice

Yes, they are ,PUK. I remember looking thru my rolodex years ago and realizing how many had died young after years of hard drinking--sometimes even from choking when they got to the solid portion of their meal.

bad

Clarice, let's not forget her menstrual cycle. All kinds of problems there...just ask icky andy.

Sue

Senator Al Franken. The senate should get lively.

larry

Fox sez mn supremes declared Franken winner 5-0.

Peter, I remember a Billy (no s) May whose band had a significant hit (playing in my head, but can't remember the name-instrumental. Maybe if I hum a few bars....) in the early 50's.

Seems this prez is on tv EVERY day. On now.

OT: DoT, re trashy crime novels, Lescroart's (lesskwah according to flyleaf) Dismas Hardy books are all good reads. Hillerman's Navajo police series is truly priceless. Elmore Leonard.

PeterUK

Clarice,
I knew a sub-editor who also ran a pub.Biggest piss artist I have ever met. We were drinking late with his wife when he came in,his face covered in scratches.Said he'd been mugged.When we stopped laughing someone dropped a coin on him to a rival newspaper.

Sue

Are the people in Minnesota retarded? No offense to any of my JOM buddies if you are in Minnesota. But come on. Jesse Ventura. Al Franken. I worked with a girl that was from Minnesota when Ventura and Bush were both governors. She brought me a coffee cup back from a visit home that said "my governor can beat up your governor". I assume that it wasn't specific to Bush but for any governor other than Jesse "the Body" Ventura. ::sigh::

Danube of Thought

Elmore Leonard is king.

Danube of Thought

Elmore Leonard is king.

JM Hanes

Sheesh Clarice:

Do Schmidt et al have any idea how reprehensible and sophomoric they look? Then there's stupid, not least of which in terms of their own future employment -- unless they've decided to seek their fortunes with Democrats. Having worked for McCain, that's certainly not out of the realm of possibility. Does anybody think McCain couldn't squash them flat, if their trash talk didn't serve his ego too?

Democrats may fear Palin, but folks like Todd Purdum know her name or picture on the cover sells a boatload of magazines. He's just vile enough to piggyback on the very woman he disparages. It would have wrecked the narrative if he, himself, had bothered to consult the DSM on postpartum depression, wouldn't it?

If the neurotic, self-annointed, elite didn't confine themselves to their allotted 1.5 children, they might actually know that by the time you've had six kids, there's almost nothing you can't handle with a baby on your arm -- or in the care of your five other mothers-little-helpers.

bad

Are the people in Minnesota retarded?

Welllllll, these are the same people who mandate the use of school bus fuel that freezes in the winter weather, rendering the buses inoperable.

RichatUF

off topic and via clarice: Good grief. The McCain campaign was about the worst run national campaign I've seen from fund raising, communications, radio and mail advertisments, and message. That those jackasses are still blaming the only good thing they did-putting Gov. Palin on the ticket and on the national stage-is mind boggling. When has is even been shown that the VP made the difference-Eagleton (though McGovern was going to lose regardless of whom he picked), maybe Johnson? It has been 7 months since the ticket lost, and they are still talking about the VP nominee. Did Kemp or Lieberman get this much attention after the fact?

bad

DoT, I've finished the first five Harry Bosch books.

Love 'em!!!

Sue

Did Kemp or Lieberman get this much attention after the fact?

No. But then, they weren't "beauty queens" with "working wombs". The only reason I got off my ass and voted for McCain was Sarah Palin. I would like to know how many votes McCain could have mustered on his own without her.

JM Hanes

Thanks TC. Wish I'd picked up some hand sanitizer on my last run to town.

bad

Sanford must be trying to piss off his wife enough so she'll divorce him.

Parking Lot

((Does anybody think McCain couldn't squash them flat, if their trash talk didn't serve his ego too? ))

I think McCain is distancing himself from Sarah because he's gunna try again ... to that end it serves his purpose to make it look like his loss was all her fault

narciso

I would compare this with Caligula's horse in the Senate, but I would invariably insult the horse,who's good for something.
Well there really wasn't most prospects for
a filibuster from this crew. It's really sad how easy these weasels/vermin/catfish
can sell out our future, as they say it's only a question of price.

Jane

Sanford must be trying to piss off his wife enough so she'll divorce him.

He needs to STFU.

RichatUF

Hell, Gov. Palin, in celebrating Seward's life and career, had 20,000 show up in Auburn, New York. Yea, the McCain debacle was all her fault. Idiots.

Porchlight

I had one of those Ventura bumper stickers, Sue. I mean not on my car but one that someone gave to me (I moved down to TX from MN just after Ventura was elected. I didn't vote for him).

But yeah, the people of MN ARE retarded. At least the libs in the Twin Cities area that decide elections.

I'm so disgusted that after being a lifelong fan, I even have a hard time rooting for the Twins or the Vikings anymore (I have zero interest in the Timberwolves anyway). Any state that would elect Franken doesn't deserve a winning sports team.

Sue

I think McCain is distancing himself from Sarah because he's gunna try again

Oh good lord. The only thing worse than that thought is the same one I had in 08. Huckabee.

Sue

(I moved down to TX from MN just after Ventura was elected. I didn't vote for him).

::whew:: I was afraid after I hit post I would piss off some very sweet people around here. I just can't believe they want to be represented by cartoon characters.

Porchlight

OT, sort of - just found out Joe the Plumber will be speaking at a local Tea Party event on Friday morning...

Porchlight

No worries, Sue, even if I had voted for Ventura I'm sure I would have regretted it long ago. I did vote for Clinton 2x, after all, so I have nothing to brag about. ;) Was a complete idiot in my twenties...

Sue

Porch,

I voted for Clinton once. And I wasn't in my twenties. We all have regrets. ::grin::

Captain Hate

Sanford must be trying to piss off his wife enough so she'll divorce him.

He's got me so pissed off that I almost hate the sight of his pathetic mug as much as Il Douche's.

Jane

What was the name of the blogger who did such a great job on the first Duke "rape" case?

hit and run

Bad:
Sanford must be trying to piss off his wife enough so she'll divorce him.

But turning our attention to much happier marriage news...

HAPPY ANNIVERSARY ANN!!!

She and Mr. Ann have been together since 8th grade.

That right there is awesome.

JM Hanes

Minnesota is, as Minnesota does. Meanwhile, if we have any Canadian lurkers, I'd like to thank you for sending some blissfully cool weather down our way. The respite from our sweltering NC summer days is much appreciated!

hit and run

KC Johnson, Jane.

http://durhamwonderland.blogspot.com/>Durham in Wonderland

trentk269

It’s one thing to marvel at how social media sites have helped spread Iranian news we might not have attained due to censorship -- and with such timeliness; it’s quite another to have become a culture that prizes speed over confirmed facts. Have our standards for accountability dissolved?

This from an organization that told us back in 1992 that Bill Clinton was actually a conservative,and wondered aloud why so many on the right held the Boy Wonder in such low esteem.

Ignatz

--What was the name of the blogger who did such a great job on the first Duke "rape" case?--

Sylvia?


Rick Ballard

JPM/Chase Tightens Serfs' Choke Collars

Five percent to transfer balances and five percent minimum monthly balance reduction. That ties right into the continuing drop in retail sales and the decline in consumer confidence.

Hey, Josephine. Do your and Joe's eyes always bulge like that or is today a special day?

Old Lurker

"Are the people in Minnesota retarded?

Welllllll, these are the same people who mandate the use of school bus fuel that freezes in the winter weather, rendering the buses inoperable."

Come on, Bad, you made that up, right???

fdcol63

Yeah, I find it hard to believe that "several" random people anywhere would even know what DSM-IV and ICD-9 classifications for specific mental conditions or disorders would be.

clarice

Schmidt deserves to be ridden out of town on a plank. And good for Kristol for dropping the dime on him today.

As for McCain--words fail.

Jane

Happy Anniversary Mr and Mrs Ann. How many years?

RichatUF

OL-

If only that were true.

Jane

Thanks Hit, I was hoping he would write about the new Duke case. Instead I learned that Jamie Gorelick is representing Duke in the Lacrosse case. Wow.

RichatUF

McCain has to be a real snake to not have muzzled his campaign staff. But then again these are the geniuses that thought it a good idea to have on staff a former Couric briefcase carrier who helped "set up" the Couric and Gibson interviews. Oh funny, exhibits 1 and 2 people point to to prove that Gov. Palin was not ready.

Rick Ballard

OL-Rich,

Please read that JPM/Chase link. My interpretation is that JPM/Chase is saying:

1. We don't want any new credit card customers (penalty for balance transfer).

2. We would sincerely like to be rid of all but the best of our current customer base (minimum reduction up 250%).

With 159 million cards out they're customer base would appear to be about 75% of the working age population (perhaps somewhat less due to multiple cards per family). I wonder how long it will take them to get that down to 100 million cards?

The credit card ABS should blow up in September. Who will be the first to drop? Last standing?

RichatUF

And since I'm just catching up, it looks as if Soros got his money's worth and was able to unseat Coleman.

Is it too early to start drinking?

bad

In other fun news, John Edwards' friend, Andrew Young, is pitching a book that says Edwards and Hunter made a sex tape together.

peter

Franken; a product of the long march philosophy of the left. They almost got away with stealing the 2000 Presidential election; realized that there was much power in the Secretaries of State of each of the states, and made a concerted effort to control those positions. There will be more theft in the future, and the GOP seems helpless to stop it as the whole trend snowballs.

narciso

Nah, that can't be right, 'the zelig of disaster'; check for lightning and meteor
strikes. Animal House is always helpful in these cases, Rich, specially Bluto's advice
to Flounder. Yes, they were incompetent at the 'epic fail' level.

Pagar

KC Johnson still posts on his Duke LaCrosse blog. It is the 2nd one listed on the JOM left column under Newsmakers Unclaimed. If you haven't been there in the past 24 hours, you may have not seen this.

http://durhamwonderland.blogspot.com/2009/06/iqbal-briefs-unindicted-players.html
RichatUF

Rick-

Seems reasonable. That is a massive increase in the minimum payment from 2% to 5%. One aspect I'm unclear about is whether they are trying to issue FDIC backed paper (say 2 and 3 years) on the receivables. With employment and consumer spending deteriorating and write-offs increasing, it does make since to get into shallower waters with a credit card portifolio: smaller book, better capitalized, excess reserves for losses...

Do you know if they issue retailer cards as well or do they only issue their own brand?

bad

If Michael Jackson is hundreds of millions of dollars in debt, why the fighting already over his will?

centralcal

bad: I think there is a belief that MJ's catalog of music will continue to make money long after his death (ala Elvis) and that there might eventually be some real $$$.

centralcal

Happy Anniversary, Ann and Hubby!

Pagar

There will be more theft in the future, and the GOP seems helpless to stop it as the whole trend snowballs.

One can rest assured that statement will be proven true. Obama moved Ron Sims to Washington to be #2 at HUD.

The Senate Banking Committee voted unanimously to approve Ron Sims' appointment as Deputy Secretary of HUD. Perhaps even the Republican members were impressed by Sims' pledge to manage the $39 billion HUD budget with "any accuracy any bank would envy",...

Read that whole article to find out why Ron Sims is so valuable to the Obama Administration.

If you want to read the latest on Ron Sims and see how he might protect the taxpayers money at HUD.

Ron Sims May Not Be A Great Manager

Auditors also discovered a vault filled money from transit fares was left open. And they found nearly $13,000 in checks that had accumulated on the desk of one county employee who didn't know what to with them.

Republican senators voted to seat this person at HUD.

Sound Politics . com is where to find all you need to know about Ron Sims.

Rick Ballard

Rich,

Apparently Chase has over 900 brands of credit cards. I'm not sure why they would bother with FDIC paper - deposits in commercial banks were up $196 billion in Q2 and total credit card balances dropped by $20 billion.

I lean towards a "we better claw back as much as we can as soon as we can" explanation. I don't think I'll put that in the "green shoots" column.

jean

Rick Why are companies ( Target,Dillards ,Macys ect.) still pushing credit cards?

Rick Ballard

Here is a ton of credit card factoids.

Joe and Josephine's eyes are still bulging - it looks like the monthly budget just took a solid hit in cash flow.

Porchlight

Ugh, I am so depressed and angry. At least two of my immediate family members and all of my friends in MN voted for the stupid assclown Franken. I'm going up to visit in a week and I don't even want to talk to (most of) these people.

Of course they all voted for Barry too. But somehow, this is worse.

bad

If Sanford keeps talking about his soulmate, Obama's new Domestic Violence czar is gonna be real busy.

PeterUK

Porchlight,
Like everything else politic has been dumbed down. Now the vote is for Celebrity Big Brother.

centralcal

bad: I am thinking Sanford wants the wife to divorce him. I see him resigning and flying off to Argentina first chance he gets.

I am utterly depressed about Senator Franken. The Dems deserve him, but I sure wish they had him while in the minority rather than in the majority.

Like Clarice, I say good for Bill Kristol. Schmidt and all the rest of the McCain riffraff - including Johnny Mac himself - need to just go away.

bad

Thanks for that credit card link, Rick. It's a pleasant suprise to see that 65% of college kids pay their balance in full every month. Of course, 100% would be preferable.

JM Hanes

Hey, I thought this was the Tabloid page!

By way of contrast, my absolutely fabulous daughter has just posted her first missive from northern Ghana, where she's working this summer. It looks like multiple entries, but it's all of a piece and reads from the top down.

That's her in the banner strip, relaxing on what I think was the Gobi Desert (a multiple choice quiz for Mom!). Further down the page, she's the one on the crocodile, of course -- click on the photo for a full size version, if croc teeth don't bother you. Apparently someone had to feed it a chicken first. She's always been careful to tell me about that sort of outing after she's done it.

I'm so proud of her.

Rick Ballard

Jean,

Models. Very good, very accurate credit repayment and risk models that were very efficient and produced decent income for a very long time. Like MBS but with even more history. I liked them just as much as anyone else - while they worked.

My assertion is that the number of suburbanites willing to toss in their keys just because their house was "underwater" at the moment marks a societal change that the models could not and did not capture. The CRA "cash for trash" was not, by itself, a big enough hole to sink the boat. It took the younger folks in the 'burbs walking away from mortgages into which they had dishonestly entered to take the cruise ship down below periscope depth.

The retailers will catch up to JPM fairly quickly. If you're getting a lot of offers it just might be a reflection on the fact that you have been judged as highly unlikely ever to take the collar.

Old Lurker

Rick, I too am in the "get it back as soon as you can camp". With a cap on rates, they no longer can offset the losses by charging the folks who pay for the deadbeats. So getting rid of the deadbeats is the plan...but good luck with that. Last I saw, banks had almost $1T in CC Debt outstanding, and with the number of unemployed soon to pass 10%, bad is getting very bad fast. This has been, right up there with commercial real estate debt, one of the big shoes about to fall.

BTW, your CC Facts link was very very interesting. If you weren't worried about the muddle, you will be when you scan down those facts.

hit and run

Wow JMH, how abfab!

Old Lurker

Bad, there was a report somewhere today that MJ claimed assets (Beatles rights and other music mostly) in 2007 north of $500M against debts of around $300M (my recall is not precise, but the ranges are right). So even if the assets are, to coin a phrase, Trumped up, there might be a nice spread left to fight over. It was interesting that he had only about $600,000 in cash, proving his spendthrift ways. Now that the spender in chief is gone, it might be interesting to follow that fight to see if there really is equity there.

If I can find the link, I'll post it.

Extraneus

Socialism over capitalism, huh? Heh. I remember how irritated my youthful liberalism used to get my father. Surely you're more understanding.

(Hopefully Schmidt can't get a job with Dems, either. Why would they be dumb enough to trust him?)

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Wilson/Plame