Apparently, this site has been blocked in some places. An email recently received:
I thought you needed to know that you are being censored at various US locations. I tried to access your site, a daily ritual over my morning coffee, and now suddenly my employer has labeled your site as "unacceptable". I am pursuing a redress and am hopeful that reason will prevail. The Tech folks have not given me any idea on why your site is suddenly blocked while Daily Kos is not....
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Who were the defaulters among holders of sub-prime loans?
The following report seems intended to show that whites were the main culprits. It fails to do that, however. It shows that it was mainly whites who got the loans but it does not show who were the main defaulters. I suspect that will be kept a deep, dark secret
ComplianceTech, a provider of technology and business intelligence for consumer lending institutions and government agencies, has released an industry report indicating that the majority of subprime-rate loans originated in 2006 were made to non-Hispanic Whites and upper-income borrowers (conventional, 1st lien, 1-to-4 family, owner-occupied, home purchase and refinance).The findings are contrary to the way subprime-rate lending has been portrayed. Frequent media portrayals and congressional dialogue refer to subprime-rate lending as a minority and low-income issue. Findings in the report are based on data submitted by lenders under the Home Mortgage Disclosure Act (HMDA) analyzed with the data-mining tool LendingPatterns(TM).
The report concluded that a disproportionate share of loans made to minorities and low-income borrowers were subprime-rate loans, but the majority of subprime-rate loans were made to non-Hispanic Whites and upper-income borrowers. Of the 1,917,809 subprime-rate loans originated in 2006, non-Hispanic Whites had 70.82 percent of the loans, and 56.23 percent of the subprime-rate loans. Upper-income borrowers had the highest share of the subprime-rate loans at 39.37 percent, followed by 27.55 percent for middle-income borrowers and 20.99 percent for moderate-income borrowers.
Contrary to popular belief, low-income borrowers had only 149,173, or 7.57 percent, of 2006 subprime-rateloans. The report also concluded that the majority of subprime-rate loans were originated in predominately-White geographic regions (areas representing census tracts less than 30 percent minority).
With One Month To Go: Why McCain Will Close and Win
By Hugh Hewitt
Because the country cannot afford the greatest gamble in its modern history at this moment in time. A confrontation with Iran looms and instability in Pakistan grows. The Islamist threat has been beaten back in Iraq, but continues to nurse its fanatical hatreds in many other places, from Waziristan to London. Israel is ringed not with an enemy that wants a state but by two enemies that want Israel to be destroyed.
The world's financial system is teetering, and the estrangement between the American people and their government has never been this deep in modern times.
The cost of energy has soared and will continue to climb. The entitlement trap has only grown worse in the three years since George Bush asked the Democrats to work with him on Social Security and they said no. The corrupt, self-dealing culture of the Beltway has poisoned the decision-making of many bureaucracies and in ways only the burdened know, and the credibility of the big media is shattered even as their audiences shrink and many of their news rooms come close to shuttering.
So, despite the rapture of college students and the registration of the homeless in Ohio, the common sense of Americans will override curiosity about Barack Obama and infatuation with his celebrity, and trust John McCain to pilot the country for the next four years.
Advice from Karl Rove
On experience, I'm all for it. But judgment is at least as important. Biden has 35 years in the Senate, yet his record on national-security issues during that span has been atrocious. He might be able to name Germany's chancellor, but he was wrong in his fierce opposition to Ronald Reagan in the 1980s and to the surge in 2007. Even Democrats don't see Biden as president. He got 0.9 percent of the vote in the Iowa caucuses. Forced out of the 1988 White House race for plagiarizing, he is that blend of longevity and long-windedness that Washington accepts as statesmanship.
McCain and Palin face an uphill struggle. Economic woes, war and the natural desire of Americans to give the other side a chance (after eight years with one party in the White House) should mean a big edge for Obama and Biden. But the race is tight, no candidate can get above 50 percent for more than a day or two, and it is likely to stay close right to the end.
The reason is, people have persistent doubts about whether Obama is qualified. NEWSWEEK's poll last month found that 47 percent felt Obama "has enough experience in politics and government to be a good president" but 46 percent said he didn't. In the recent ABC/Washington Post poll, 45 percent said Obama doesn't have "the needed experience," the same as last March. Even the late-September CBS News/New York Times poll found that while 46 percent feel "Obama has prepared himself well enough for the job of president," 45 percent do not. For good reason: Barack Obama has less than half a term in the Senate, where he's proposed little, accomplished less and spent virtually every day campaigning-as if being on the trail is a principal qualification for president.
McCain-Palin must deepen those doubts by pounding away on questions about Obama's character, judgment and values. Drawing on Obama's own record and statements, they need to paint him as a big spender, class warrior and cultural elitist; they need to say he's never worked across party lines or gotten his hands dirty solving big issues. But the duo must also give voters reasons to support them. They must crystallize a positive, forward-looking vision so people who see Obama as unqualified have something to hang on to. It can't be a laundry list of positions. McCain-Palin must offer a narrative about what they will do to help America see better days, especially on kitchen-table concerns.
For more postings from me, see OBAMA WATCH (2), TONGUE-TIED, EDUCATION WATCH INTERNATIONAL, GREENIE WATCH, POLITICAL CORRECTNESS WATCH, GUN WATCH, SOCIALIZED MEDICINE, FOOD & HEALTH SKEPTIC, AUSTRALIAN POLITICS, IMMIGRATION WATCH INTERNATIONAL, EYE ON BRITAIN and Paralipomena
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The Big Lie of the late 20th century was that Nazism was Rightist. It was in fact typical of the Leftism of its day. It was only to the Right of Stalin's Communism. The very word "Nazi" is a German abbreviation for "National Socialist" (Nationalsozialist) and the full name of Hitler's political party (translated) was "The National Socialist German Workers' Party" (In German: Nationalsozialistische Deutsche Arbeiterpartei)