Notaries, Foreclosures, and Congress Bits
A bit of drama today revolving around Foreclosure-Gate saga. Yves Smith had a tip that big time investor John Paulson was sending henchmen to Washington to try and get the notary bill pushed through:
Apparently he still has a substantial long position, because today a Paulson operative was making the rounds in DC, throwing temper tantrums about the impact various investigations might have on the residential mortgage backed securities market. He was particularly upset about the fact that the theory that we have discussed on this blog, that the problems facing deals where the notes were not properly conveyed (which we think are pervasive) are not easily remedied. As we have discussed, the “fixes” for the note conflict both with the provisions of the pooling and servicing agreement and New York Trust law.What a loser.
There was plenty of confusion around if the bill could be passed (over-ride pocket veto) due to the Senate still being in session. Maybe there was enough concern that the clowns in DC would pass this thing at midnight (like the unlimited FRE/FNM assistance at Christmas!) so the president himself showed some balls and outright vetoed the bill once and for all. Thanks CONgress, try again? Thanks Mr. President, at least now a bailout will have to be debated before we all get screwed.
The only other economics story I wanted to touch on is a wonderful piece over at The Automatic Earth which is this weekends must read:
Wile E.'s Suspended Reality
Snippet to get you to go over there:
According to the official mantra, letting the main banks go belly-up would kill the entire system. Letting millions of Americans go belly-up, not so much. It's all a matter of priorities, don't you know, and you, yeah you, are not the priority.Indeed.
In the End, There Can be Only Friday
Friday is like a peek inside my mind, I know, that is some scary stuff!
Will Anyone Listen?
I got an email tip that robots have been made that are using brain transplants from living things! One step closer every day it seems:
The Singularity is Near: Robot with Rat Brain
10 years from now when you are fighting a resistance war against the machines (if you live) they will all say "Economic Disconnect KNEW this would happen!".
Two items caught my eye today:
Japanese Flower has Biggest Genome in the World
A rare flower known as Paris japonica has a genome 50 times bigger than humans'. With 149 billion base pairs of DNA, it's the biggest genome in the world, and stretched out end-to-end it would be taller than Big Ben.I am not sequencing that thing!
The Thing will Have a Prequel
If you know the old film with Kurt Russel, you will be excited! April 2011.
I found some top flight funnies for tonight!
If you have ever done work at an academic lab this song by UCSF Biology Grad students will crack you up to no end:
I found this one and I knew I had a winner! Please load "Pole Dance Ruins Wedding" and enjoy!:
And do not ask me how I came across a pole dancing video......
Finally I actually had to ask myself what I would do in this situation as the opportunity would be golden indeed:
I am going to make this into a poster I think!
Films for Review
Some films you may want to check out. No embeds to save space, but the link will be a cool scene I promise.
-I really like GATTACA.
-I cannot believe some folks think "Tombstone" was a better film than "Wyatt Earp" and thus they must be crazy as there is NO comparison at all.
-Do not bother with the remake, stay true to the real "Red Dawn".
Out on the street, I'm stalking the night
I can hear my heavy breathing.
Paid for the kill but it doesn't seem right
Something there I can't believe in.
Reader Scharfy wanted a little Glen Fry and "Smugglers Blues" and I think it makes a great open:
"You be cool for 20 hours and I'll pay you 20 grand"
Nice! Great pick.
Reader C-T wanted some Talking Heads with "Naive Melody" and I had forgotten this tune:
Gawains requested "Sabbra Cadabra" from Sabbath so how can I dsay no?:
Hey Gawains, if you have the time I would love your full take on this document mess we are in. You are on the ground after all and a guest post spot is always yours if you want it!
I really think I have had this one up before, but a search cannot find it! In any case, I had the film "Tough Enough" on my mind and so enjoy "Rainbows Never Touch the ground" from the film:
I like it.
Step it up with Rob Base and "It Takes Two":
You remember that one?
Two to go! Two songs to say so much.
Please enjoy John Stewart's masterpiece song "Gold":
All time classic, and yes that is Stevie Nicks on support vocals! Too sweet.
Oh, it is last call! I hate last call! Still, it is what it is.
EconomPic started off with his video of the week (just 1 Jake??? LOL) and of course that got me thinking about the amazing talent that was Layne Staley and how he threw it all away for garbage.
Anyways, here is a live acoustic version of the Alice in Chains song "Would". I was going to try and play a newer version with the new lead singer, but he sucks and is no match for Staley:
Just unreal. For the full on studio version go here.
Have a good night.