People’s spending choices are a good way to assess levels of hunger. If you’re a legislator in Frankfort? Don’t worry – this will go over your head. [The Economist]
Poor Bobbie Coleslaw skipped a Republican campaign event in Northern Kentucky to attend a fundraiser in Washington, D.C. It’s super-sad that she believes either of those two events will matter for her in the long run. [H-L]
Lobbyists are raising unlimited and undisclosed contributions to buy a supreme court seat. And the mouth-breathers still have the nerve to suggest this is an issue of free speech. [Alternet]
Mitch McConnell can’t help but be controlled by King Coal. Every other word he’s said lately is about how much of a devil the EPA is. Must be a big fundraiser coming up for him or some such. [H-L]
Kentucky’s gubernatorial race has turned into the second-most important in the country. Guess that’s what happens with the DGA starts talking it up and internal polling starts showing Beshear at risk of losing his seat. [Politico]
New home sales have taken a nose dive to the lowest level in nearly 50 years. But don’t worry, your politicians will tell you everything that it’s all puppies and rainbows. [Consumerist]
The Energy Tax Prevention Act? Really, Floridian Ed Whitfield? Let’s talk about comprehensive tax reform instead of aiding and abetting your special interest friends. [The Hill]
Steve Beshear really is wrong. Democrats are just afraid to criticize him because they’re afraid of David Williams. Partisanship wins the day. Again. [KY Club for Growth]
Rand Paul says “Obamacare” is dangerous. But he’s yet to offer any alternative that isn’t a bunch of hype spread on thick with faux savey changey bullshiz. Because he has no clue what the heck he’s doing on the health care front and isn’t getting traction elsewhere. [Roll Call]
Massey coal mines have been hit with a whopping 80 citations for safety violations. Meanwhile, the Kentucky Coal Association and its bloated pals like Jim Gooch continue to kill our Commonwealth with mountaintop removal. [HuffPo]
Earlier today, State House Republican Floor Leader Jeff Hoover called on House Speaker Greg Stumbo to bring legislators back to Frankfort on April 6 to override Governor Steve Beshear’s vetoes. [Press Release]
Legislative pay is in limbo for a special legislative session that lacks State Representatives. We’re just gonna keep flushing money down the toilet because that’s what we do in Kentucky. [Bluegrass Politics]
Gross person Newt Gingrich says his affair clarified why he needed to impeach President Bill Clinton. The blob’s hypocrisy is ripe. [Wonkette]
9 responses so far ↓
1 Novena // Mar 28, 2011 at 5:33 pm
“Coal Enough for You?’
Reporter: “Senator, why do you continue to disguise your huge support for the corporate coal industry by saying you’re so pro-jobs?”
Mitch: “Because, like my dear wife when she was Labor Secretary, we know Amurkins don’t shy from wanting jobs and working hard for their employers.”
Reporter: “Didn’t she say American workers had BO–or something like that?”
Mitch: “We, as a family, think of our workers as synonymous with the Almighty Dolla–I mean all mighty Amurkins.”
2 Anon // Mar 28, 2011 at 6:08 pm
“People are actually getting excited about the guy who engineered the 1995 government shutdown?I’m sorry, but that’s just sad.”
This is the most aggressive comment against Rand by Jake I read in some time. I’m not saying it’s wrong, I just noticed it.
3 Anon // Mar 28, 2011 at 6:09 pm
EDIT: Wrong quote. This is it: “Because he has no clue what the heck he’s doing on the health care front and isn’t getting traction elsewhere.”
4 George // Mar 28, 2011 at 8:37 pm
The Governor’s seat is not in danger when the RPK can’t get their members under the same banner.
5 jake // Mar 28, 2011 at 8:38 pm
Really? So Jeff Hoover’s stunt of sticking it to Greg Stumbo didn’t wake you folks up to the reality that the Republicans weren’t siding with Beshear after all?
HAHAHA.
6 James R. // Mar 28, 2011 at 10:43 pm
If you think housing has taken a hit lately, wait until the Republicans and Barack Obama get rid of Fannie Mae and Freddie Mac and the 30 year mortgage!!!!
Fannie and Freddie are what allows Americans to obtain 30 year financing on the their homes. Without the 30 year mortgage, the middle class would not exist. 30 year loans have only been around 50 years and the middle class did not exist in the 1930s.
Time people tell Obama and the Republicans you want Fannie and Freddie around, so average Joe can buy a home, and not just the wealthy.
7 Eric // Mar 29, 2011 at 1:43 am
James -
I know you mean well, really – but have you done your homework on Fanny and Freddie? Did the housing bubble show you nothing? Does the term “toxic loan” strike a chord?
The reason why many in Congress are considering Fanny and Freddie’s future is specifically BECAUSE many middle class (and below) people had home loans extended to them, for which they were not qualified. This was done indiscriminately because banks and other lenders KNEW that Fannie and Freddie (being government subsidized and guaranteed) would cover most if not all of any defaulted loans.
It would be wise on your part to do some research before you opine on a subject in which you seem to be out of your depth.
And by research I mean any publications other than “Soldier of Fortune” and “The Turner Diaries”…
God I’m hilarious….
8 James R. // Mar 29, 2011 at 9:42 am
Eric, you only think you are hilarious,
We live in a country where everyone wants things without having to work for them. Borrowers have the same responsibility in many cases as the banks. Both parties got what they wanted. Total free market leads to greed.
Fannie and Freddie for about 12 years had very lax loan qualifications. This is because of lax regulations. This was wrong and it changed abruptedly in late 2008. Those regulations have tightened up and that the problems that existed before do not exist anymore. Guidelines are like they were in 1985 now.
To obtain a 30 yr fixed rate today, you must be qualified like you had to be 25 years ago. If Fannie and Freddie go away, 30 year fixed rate loans will cease to exist. This is supported by Obama and Republicans. If this is what America thinks is a good idea, fine, but the fact is that most Americans who buy homes obtain a 30 year loan to do so.
That said, how many of PageOne readers have 30 year fixed rates? No one would if Fannie and Freddie did not exist, and this would lead to only the wealthy able to buy a home. How many could buy a home today if you had to get financing at a bank that would hold the loan and give you an 1-3 year adjustable rate mortgage?
9 Eric // Mar 29, 2011 at 12:14 pm
Actually, I really AM hilarious (just ask anyone), and you essentially impeached your own argument when you state that “…Borrowers have the same responsibility in many cases as the banks.”
The fact is, regardless of whether or not Fanny or Freddy exist, banks would still extend 30 year notes on houses, and have been doing so long before F&F were instituted. In fact, a 30-year fixed rate home loan is STANDARD.
I personally have NEVER heard of 1-3 year adjustable rate mortgage.
Anyone ?
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