Clipmarks | kmcolo's Pops

Why polls are underestimating Obama's chances

Sat, 11 Oct 2008 12:23:43 GMT

clipped by: jklugman
clipper's remarks: Ezra Klein posts correspondence with Princeton political scientist Larry Bartels about why current polls are underestimating the support Obama will receive in the election.

Clip Source: www.prospect.org

First, there is a fairly strong tendency for late shifts in preferences to favor the incumbent party when the economy is strong and the out-party when the economy is weak; that makes Sen. Obama's position stronger than it looks in current polls.

Second,

given the pattern of new registrations and the apparent strength of the two campaigns' voter mobilization efforts, Sen. Obama seems more likely to benefit than to lose support from unexpected turnout.

Third, the possibility that undecided white voters may, in the end, be unable to bring themselves to vote for Sen. Obama on racial grounds makes his position somewhat more precarious than it would otherwise be. It is very difficult to estimate the importance of the racial factor (that is, the extent to which racial antipathy is not already reflected in current polls), but my guess is that this is less important than the other two factors, both of which seem likely to work in Sen. Obama's favor.

Tags: ezra klein, barack obama, john mccain, larry bartels, survey, poll, polls, elections

Two Small Banks Fail, Bring 2008 Tally To 15

Sat, 11 Oct 2008 16:03:25 GMT

clipped by: Forbes Markets

Clip Source: www.reuters.com

U.S. regulators took over two small banks on Friday, in Michigan and Illinois, bringing the tally of bank failures to 15 so far this year.

The Federal Deposit Insurance Corp. said it had seized Main Street Bank of Northville, Michigan, and Meridian Bank of Eldred, Illinois.

Main Street Bank had total assets of $98 million and total deposits of $86 million as of October 7, the FDIC said, while Meridian Bank had $39.2 million in total assets and $36.9 million in total deposits as of September 25.

The two failures are expected to cost the U.S. bank deposit insurance fund, that stood at around $45 billion at the end of June, between $46 million and $53.5 million, the FDIC said.

Tags: credit crisis, bank failures, fdic

Headless Horseman Dog Costume

Sun, 12 Oct 2008 00:19:35 GMT

clipped by: jklugman

Clip Source: mfrost.typepad.com

Tags: cute overload, animals, dogs

Fannie Mae & Freddie Mac not the cause of the subprime mortgage meltdown

Sun, 12 Oct 2008 01:34:03 GMT

clipped by: jklugman
clipper's remarks:

Between 2004 and 2006, when subprime lending was exploding, Fannie and Freddie went from holding a high of 48 percent of the subprime loans that were sold into the secondary market to holding about 24 percent, according to data from Inside Mortgage Finance, a specialty publication. One reason is that Fannie and Freddie were subject to tougher standards than many of the unregulated players in the private sector who weakened lending standards, most of whom have gone bankrupt or are now in deep trouble.

During those same explosive three years, private investment banks — not Fannie and Freddie — dominated the mortgage loans that were packaged and sold into the secondary mortgage market. In 2005 and 2006, the private sector securitized almost two thirds of all U.S. mortgages, supplanting Fannie and Freddie, according to a number of specialty publications that track this data.

Clip Source: www.mcclatchydc.com

Subprime lending offered high-cost loans to the weakest borrowers during the housing boom that lasted from 2001 to 2007. Subprime lending was at its height vrom 2004 to 2006.

Federal Reserve Board data show that:

_ Private firms made nearly 83 percent of the subprime loans to low- and moderate-income borrowers that year.

Conservative critics claim that the Clinton administration pushed Fannie Mae and Freddie Mac to make home ownership more available to riskier borrowers with little concern for their ability to pay the mortgages.

Tags: fannie mae, freddie mac, subprime mortgage meltdown

A personal bailout plan? Live within your means

Sun, 12 Oct 2008 02:46:09 GMT

clipped by: rmowery
clipper's remarks: some common sense, but good reminders.

Clip Source: www.thenewstribune.com

A personal bailout plan? Live within your means

With or without all the bailout blather, many consumers have felt crunched for months. We all need to build a bailout, especially since economists say the fallout from the financial crisis is expected to drive a U.S. recession well into 2009.

After a big drop on the Dow, people just aren’t going to start this week by saying, “Oh well, glad that mess is over.” The aftershock will continue.

We’ll still open stinging statements for 401(k) plans. We’ll still feel on edge about the possibility of losing a job.

Credit markets will take time to adjust, and experts say the process could be slow, even after the House and Senate approved the strongly debated $700-billion financial rescue plan last week.

“Don’t expect much of an improvement for two or three months,” said Brian Bethune, chief U.S. economist at consulting firm Global Insight in Lexington, Mass.

So logically, we’d all be better served by engineering our own rescue plan. Some strategies:

Tags: personal finance, money management, emergency funds, funding, credit

Taking stock of what’s right with the United States

Sun, 12 Oct 2008 04:41:04 GMT

clipped by: arifsali
clipper's remarks: Good read, feel good.

Clip Source: www.paulding.com

The U.S. financial crisis has shaken investor confidence in the U.S. economy, and for good reason. After nearly a decade of excessive borrowing and lax financial regulation, the economy is in the grips of a painful deleveraging process. Bank failures, home foreclosures, credit card delinquencies — these variables and others have brought the U.S. economy to a virtual standstill.

Against this dire backdrop, we thought it would be a good time to step back from the drama of Wall Street and Washington and unemotionally reassess the prospects of the U.S. economy. Below is a list of items that we believe show what is right with the United States from an economic and market perspective, offered in an effort to help investors think rationally about the economy’s future.

1. The United States is the largest and most productive economy in the world.1

2. The United States is the world’s leading manufacturer of goods.2

3. The United States is the largest exporter of goods and services in the world.3

Tags: united states, finance, economy

Fabrice explains who's really behind the financial meltdown...

Sun, 12 Oct 2008 08:27:23 GMT

clipped by: rmowery

Clip Source: markpincus.typepad.com

Fabrice explains who's really behind the financial meltdown...

I'm reposting this from my friend fabrice grinda who explains who is really responsible for this mess.

Its ridiculous to hear a people say that capitalism doesn't work or that this was a few greedy bankers. Capitalism is a machine and we are the operator. We don't blame our car when we crash it.

As a society and as individuals we are loth to take responsibility for our actions. We much prefer finding scapegoats or blaming circumstances. I was recently asked who was to blame for this crisis.

The culprits include:

· The American Dream: Guilty of having changed from being the opportunity of becoming successful through arduous effort, perseverance and determination regardless of your starting circumstances to the pursuit of home ownership.

· Politicians: Guilty of pushing home ownership as an end in itself and of distorting the tax code accordingly thus encouraging individuals to pile on debt.

Tags: economy, homeowners, bankers, fannie, freddie

Taliban in Pakistan persecute Pushtun Artists

Sun, 12 Oct 2008 10:26:15 GMT

clipped by: Gul Agha

Clip Source: www.ndtv.com

Gulzar Alam's songs filled Peshawar's air not long ago, when the city was a different place with music, theater and even a bazaar for musicians and artists.

Dabgari Bazaar was famous for its artists and musicians. But the artists and musicians have gone and this whole area has been commercialized.

It is to this reality that Pushtu singer Gulzar Alam has returned to after years in self imposed exile in Balochistan -- only because the liberal Awami National Party has formed the government. (Watch)

"Then a time came in our province that culture, arts and music were banned. Tape recorders were forcibly removed from people's private cars and public transport. And there was a ban on musical functions. And that time we suffered a lot, our whole community of artists just fled the country."

For now, Gulzar keeps the music only to himself. His neighbours have asked him not to gather musicians around so the Taliban are not provoked into punishing the entire neighbourhood.

Tags: terrorism, pakistan, afghanistan

I'll Take Hope Over Fear and Loathing, Thank You Very Much

Fri, 10 Oct 2008 06:00:26 GMT

clipped by: dulios
clipper's remarks: I am by training a historian. My focus of study has been 20th century Europe and the rise of fascism. The "othering' taking place on the right and from the Republican candidates themselves is horrifying to behold. Who's to blame for the economic crisis? Barney Frank (faggot!), ACORN (niggers!), Barack Hussein Obama (half-breed Muslim!). I see it on the internet, I see it on TV, I see it in newspapers, I see it here on ClipMarks: race-baiting, fear-mongering, scapegoating.

Enough! Not here! Not now! Not ever again!

If I may quote Obama, "Not this time!

Clip Source: mediamatters.org

Savage: "I fear that Obama will stir up a race war ... in order to seize absolute power"

During the October 8 broadcast of his nationally syndicated radio show, Michael Savage invited callers to discuss what they "fear the most if [Sen. Barack] Obama wins" the presidential election. After airing a clip of the Rev. Jeremiah Wright, Savage said: "I fear that Obama will stir up a race war. You want to ask me what I fear? I think Obama will empower the racists in this country and stir up a race war in order to seize absolute power." Savage later said: "I want you to call this show and tell me what you fear about Barack Hussein Obama as president."

SAVAGE: Oh no, I want everyone to strip off all of their social constraints right now on this show. And I want them to get down to the core fear that they have for Obama. I want to hear it on this show, and I thank you. And you can call me at 1-800-449-8255. Don't hold anything back.

Tags: race

Former governor Milliken backs away from McCain

Fri, 10 Oct 2008 21:00:04 GMT

clipped by: monstersmom

Clip Source: www.mlive.com

former Republican Gov. William Milliken is expressing doubts about his party's nominee.

"He is not the McCain I endorsed,"

"He keeps saying, 'Who is Barack Obama?' I would ask the question, 'Who is John McCain?' because his campaign has become rather disappointing to me.

"I'm disappointed in the tenor and the personal attacks on the part of the McCain campaign, when he ought to be talking about the issues."

Lincoln Chafee, a former Republican U.S. senator from Rhode Island, said he's voting for Obama and urging others to do likewise.

"That's not my kind of Republicanism," said Chafee, who now calls himself an independent. "I saw what Bush and Cheney did. They came in with a (budget) surplus and a stable world, and look what's happened now. In eight short years they've taken one peaceful and prosperous world, and they've torn it into tatters."

As for McCain's choice of Alaska Gov. Sarah Palin for his running mate, "there's no question she's totally unqualified," Chafee said.

Palin's mob

Thu, 09 Oct 2008 22:43:44 GMT

clipped by: deb2012
clipper's remarks: "Obama is a one man terror cell"

Clip Source: www.youtube.com

[Video]

Tags: politics

Afghanistan code red

Thu, 09 Oct 2008 23:37:40 GMT

clipped by: deb2012

Clip Source: www.washingtonpost.com

The White House has launched an urgent review of Afghanistan policy, fast-tracked for completion in the next several weeks, amid growing concern that the administration lacks a comprehensive strategy for the foundering war there and as intelligence officials warn of a rapidly worsening situation on the ground.

Analysts have concluded that reconstituted elements of al-Qaeda and the resurgent Taliban are collaborating with an expanding network of militant groups, making the counterinsurgency war infinitely more complicated.

Alarms were first sounded early this year,

But seven months would pass before the administration, distracted by issues as serious as the Iraq war and as far afield as the Olympics, was seized with the urgency to put a new strategy in place.

the temporary deployment of 3,500 more Marines, an appeal for more NATO troops and presidential authorization for U.S. commando raids into Pakistan -- the downward spiral continued

U.S. military deaths

have risen to the highest levels

Tags: war on terror, politics

Virus that kills cancer cells

Thu, 09 Oct 2008 15:51:43 GMT

clipped by: mona

Clip Source: www.scientificblogging.com

The Senecavirus is a "new" virus, discovered several years ago by Neotropix Inc., a biotech company in Malvern, Pennsylvania. It was at first thought to be a laboratory contaminant, but researchers found it was a pathogen, now believed to originate from cows or pigs. Further investigation found that the virus was harmless to normal human cells, but could infect certain solid tumors, such as small cell lung cancer, the most common form of lung cancer.

the virus demonstrates cancer-killing specificity that is 10,000 times higher than that seen in traditional chemotherapeutics, with no overt toxicity

"It will be critically important to find out what region of its structure the virus is using to bind to tumor cells, and what those cancer cell receptors are," Reddy says. "Then we can, hopefully, improve Senecavirus enough to become a potent agent that can be used with many different cancers."

The Ad ABC won't run

Thu, 09 Oct 2008 16:44:08 GMT

clipped by: deb2012
clipper's remarks: ABC protecting it's big-oil advertising revenue. You can go to their site and tell ABC how foolish they're being right now.
http://www.wecansolveit.org/page/s/ABC

Clip Source: www.youtube.com

[Video]

Tags: alternative energy, energy

Bush to America: Hang in there

Thu, 09 Oct 2008 00:25:00 GMT

clipped by: rmowery

Clip Source: ap.google.com

Bush to America: Hang in there

WASHINGTON (AP) — President Bush on Tuesday told a country engulfed by dire economic news that it should not expect a sudden recovery, but rather a gradual rebound that will test people's patience.

Pounding home a sober tone, Bush said about a dozen times that the nation is enduring "tough times."

"I know that the days are dim right now for a lot of folks," Bush said. "But I firmly believe tomorrow is going to be brighter."

Just not literally tomorrow.

The government's unprecedented plan to buy up Wall Street's failed assets has not kept the stock market from plunging or the credit crisis from imperiling financial markets around the globe. That, in turn, has exacerbated the confusion of the public, which was told repeatedly that the government plan was a rescue.

So the White House, led by Bush, is sending this message: Hang in there, America. The massive federal intervention will just take time to work.

Tags: bush, chantilly, economy, pep talk, finance, retirement, housing