That is why they were called "subprime" morgages

Minorities Affected Most as New York Foreclosures Rise

Think about it...

Instapundit:

BUT WILL SOCIALIZED MEDICINE PAY FOR THEM? Tiny implants for treating chronic pain. “A tiny injectable implant, smaller than a grain of rice, might one day take the place of large neural stimulators used to treat chronic pain and other neurological disorders. The novel device, under development by MicroTransponder, a Dallas-based startup, owes its small size to the use of RFID (radio-frequency identification) technology like that used to tag clothes to prevent shoplifting.”

Hah! Under socialized medicine, there will be NO money for this type of research in the first place....

Can't be much more fun than this...

Daily Pundit:

"Hmm. Panetta is Obama’s guy, installed to prevent the CIA from launching attacks on the president. So this can mean only one thing: Nancy Pelosi is being given a taste of the White House Whipping Stick.

Hey, you got any more popcorn over there?"

Quote of the Day...

The Speculist:

Okay, so the reason that we spend so much on seniors is that seniors are the people who do most of the dying in our population, and dying is an expensive proposition when you're (pardon the expression) dead-set against it.

Such a great person....

Oprah to Planet Earth: Drop Dead:

"Now, a lot of people don’t want anybody else to have private jets. They don’t want other people to drive nice cars, live in nice homes, eat at expensive restaurants, or otherwise enjoy the fruits of their success. They want other people to feel guilty about it. They want other people to limit their consumption in order to “save the planet.”

Why, one such wildly successful hypocrite might even have a “Going Green 101″ episode of her insanely popular daytime talk show, and invite Al Gore on to talk about “Global Warming 101.” (They’ve all got to be entry-level courses, see, because you’re stupid.) But eventually, when the hysteria starts to die down and she realizes she’s not going to make any more money from WE’RE ALL GONNA DIE, she might just drop the facade and admit that being rich and using up all kinds of precious natural resources is super-awesome."

Amazing disconnect...

Obama’s Signal to Israel: Submit:

"By what reasoning has the administration decided that pushing Israel to permit a new Palestinian state would — in any way — diminish the threat from Iran? Do they believe that Iran’s (or, I should say, the Iranian leadership’s) genocidal hostility toward Israel is the result of lack of progress toward an independent Palestinian state in the West Bank and Gaza? Will the Iranian leadership, which has characterized Israel as a “cancerous tumor,” declared that “Israel must we wiped off the map,” and promised that “Israel is destined for destruction and will soon disappear,” change its mind if Israel enters into negotiations with the Palestinians?

“Obama will be a great friend to Israel.” So said a Jewish Democrat in a pre-election debate with me. I asked her whether she had any hesitations about someone who had been steeped in academic pieties and Hyde Park left-wing intellectual fashions, and who had tamely absorbed Reverend Wright’s sermons for 20 years? Her response was to mouth some of the platitudes about support for Israel that were to be found on the Obama campaign’s website. I wonder if she is having doubts now."

The Hugo Chavez approach...

Health-Care Industry Kowtows:

"Groups that could be expected to resist the further nationalization of health care are shouldering their way to the bargaining table in the hopes of protecting themselves from the worst of legislation they consider inevitable. For a president who made a cottage industry of hope during his campaign, Obama is benefiting from rank fear in his dealings with potentially recalcitrant business interests, from Chrysler’s secured creditors to the health-care industry — get on board or get run over."

Bait and switch...

Megan McArdle:

"Obama's spending is not the only reason the deficits are so big--not by a long shot. But he is using the sticker shock to slide in big spending plans without paying for them. And while the US can certainly afford one $1.4 trillion year, it probably cannot afford 10 $600+ billion years. As private credit markets recover, government credit markets will start to reflect that reality.

That's not to say that disaster is at hand. Obviously, I am not fond of all the new spending plans, so I (and you) should be mindful of a possible tendency towards wishful thinking. And this is early days--sometimes a bad bond auction is just a bad bond auction. But I imagine that Larry Summers had at least one sleepless night."

The truth is always in the details...

TigerHawk:

"As expanded by this latest release, the Obama administration’s tax program has taken on an everything-but-the-kitchen-sink quality. One lesson here is never to underestimate the energy and persistence of this administration. But even though some new details on previous proposals were contained in this release, particularly on the international tax provisions, this document seems to raise as many questions as it answers.

Additionally, many of the groups that the administration has criticized in the press in recent months – financial institutions, insurance companies, oil and gas companies, private equity and hedge funds, and high income/high net worth taxpayers – will find that this budget only further underscores those sentiments."

Quote of the Day...

Instapundit: "Nothing takes the shine off a political party like giving its politicians a free hand . . . ."

Read it all...

The President’s silly health care announcement

We're Saved!!!! Er..... Maybe not

The April Numbers Are In:

"Oh my. It appears that his economists can’t predict very well (that fills me with confidence), and that his stimulus package is providing absolutely no benefit.

And it certainly doesn’t look like his plan has “saved or created 150,000 jobs.”"

Idiot quote of the day...

ProfessorBainbridge.com:

"'You don't need banks and bondholders to make cars,' said one administration official."

But what more would you expect from a bureaucrat?

The true meaning of 'Irony"...

Eco-sailors rescued by oil tanker:

"An expedition team which set sail from Plymouth on a 5,000-mile carbon emission-free trip to Greenland have been rescued by an oil tanker."

This is exactly what they mean by "Gorging the Beast"...

Stop ObamaCare:

"The cost estimates paint a very grim picture of the future of health care and federal budgets under the Democrats' plans, and the greatest vulnerability of ObamaCare is that it will inevitably lead to rationing of health care. This is something the public, rightly, fears above all else. There are really only two ways to keep costs under control: by building a real marketplace in which cost-conscious consumers make choices or by imposing arbitrary limits, determined by the government, on care. As the Democrats have rejected the first option they will quickly have no choice but to adopt the second.

The Obama team hopes that by enacting the expansions of coverage but not the needed cost-controls this year, they can create unalterable facts on the ground without having a real debate about rationing. Then in a year or two, they will come back, as all government health insurance programs do, and insist on stricter controls in the name of protecting the Treasury. It is clear they are already contemplating this next step, with growing talk of federal 'effectiveness research' and Obama's recent musings in the New York Times Magazine about whether his own grandmother should have been allowed to have a hip replacement in her final months. Above all else, Republicans must make it clear to the electorate that if Obama prevails with his plan, the government"

Bend over, America. Here comes da' judge....

Stop ObamaCare:

"But the Obama plan, whatever its tactical cleverness, will suffer from the key drawbacks of all government-financed and managed health insurance. It would make the government the gatekeeper--the controller of prices and the provider of coverage. Health care decisions would increasingly be made in Washington and subject to political pressures that take into account neither patient needs nor economic realities. The cost of the program would be such that the effort to pay for it would become the central concern of American politics--rendering essentially untenable any effort to roll back government spending or reform federal tax law. As we see around the world, health care is the key to public enmeshment in ballooning welfare states, and passage of ObamaCare would deal a heavy blow to the conservative enterprise in American politics.

The combination of a plan that obscures the flaws that killed HillaryCare and the daunting Democratic majority in both houses of Congress has left many Republicans fatalistic. GOP leaders in Congress seem to be looking for ways to compromise at the edges or to live with what emerges. They take the successful enactment of some version of ObamaCare almost for granted. And yet Obama's plan is enormously vulnerable. Its sheer size and ambition argue against any notion that it will easily pass, and certain features suggest specific weaknesses that ought to draw"

Reminds me of "Putney Swope"....

Barack Obama's rich supporters fear his tax plans show he's a class warrior