November 28, 2010
End of an era.

Interesting article from Politico on one aspect of the last election that had not gotten much attention.  The wiping out of Democrats from state houses in the South.  The article focuses on Alabama in particular.  Democrats led both houses of since reconstruction.  Despite all outside assumptions about Alabama as solidly Republican this was somewhat of a counterfactual.  To be fair, several of the elected Democrats actually caucused with the Republicans prior to this election.  Despite this, the Democrats still maintained a majority in their caucus.  The partisan swing was bigger in name than it was in reality. 

There were several factors in Alabama that led up to this, notwithstanding the larger electoral shift of the last cycle.   More thoughts on this later.

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September 24, 2010
GMAC has a bit of a problem

The New York Times has an interesting article on the recent relevation that GMAC employees have been falsifying loan foreclosure documents.  When the lenders are attempting to foreclose on these properties they must prove legally that these documents are what they claim that they are and that they have reviewed the documents.  This is generally done through the use of a sworn affidavit.  The testimony from GMAC employees is that despite what they swore to be true they had not in fact reviewed the documents.   Without these affidavits the documents are inadmissible as evidence and the lender would be unable to establish that they own the home or the mortgage on that home.  Where they cannot prove ownership they cannot prove that they have the right to foreclose anymore than you could prove that you are entitled to foreclose on your neighbor. 

GMAC wants to act as if it is a minor technicality.  Their PR department might think so but I bet their legal department knows better.

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September 22, 2010

In Alabama we take our football seriously.  Maybe just a little too seriously.  I am sure his parents are proud.

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August 22, 2010
Amazing news from Chile

Was amazed tonight to see the thirty-three miners that were found alive after seventeen days.  Mining is dangerous work and some risks are not always avoidable. However, I have not seen the likely cause of this particular collapse and it may have been avoidable.  I was glad to see that these miners were able to make it to a safe room in the mine.  Impressive to see that Chile requires these safety precautions.  Hopefully the miners will be able to stay healthy for the next four months in the mine if that is what it takes to get them out.    

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August 12, 2010
News from the Gulf of Mexico

Spending the past few days at the Gulf of Mexico in Orange Beach, AL.  The wheather has been pretty good but the major question has been the oil.  That has been somewhat mixed.  The water seems clear for the most part but there are traces of oil to be seen.  Along the beach you can see where the sand is stained from the oil.  The waves crash along the beach and you can see the brown foam as the water crashes.  It looks like the foam from chocolate milk.   The beaches are not full but there are people enjoying the beach.  Some of them are swimming and enjoying the water.  Not my personal choice but they don’t seem the worse for it.

There are contractors out doing work on the beach.  There was as station about 200 yards from where I was however I could not tell exactly what it was they were doing.   Hopefully the beaches will be returned to normal soon.

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August 12, 2010
Dodd is afraid of Elizabeth Warren

This article address the reluctance of Senator Dodd to have Elizabeth Warren appointed to the new consumer financial refulatory administration.  The article discusses the actions but really does not get into the why.  I have no incite into Dodd but see the obvious reasons he would do so.  With a new agency there will be a slew of federal regulations to write that interpret the new statutes that created this agency.  The head of this agency will have a great deal of leeway in creating an administration and the regulations that will either actually do something or become a paper tiger.  With Warren at the helm it will be  safe bet that there will be a new agency that will have regulations that are extremely consumer friendly. 

That being said, some times people view legislation and regulation as a zero sum game.  The more regualation is inherently bad for the regulated.  I disagree.  Many times regulation acts as a brake on bad practices that are not good for either party.  This could be mining regulations that are in place to prevent injury to the miners but also prevent catastrophic losses to the mine operator.  In the context of banking regulations maybe they would prevent borrowers from taking on more debt than they could afford at they same time they prevent lenders from making lending decisions that end up ruining their business in the long term. 

I hope Warren is appointed to head the new agency.  She will take an agressive stance on behalf of the American people and set policies for a generation.

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August 6, 2010
Fugees divided on their choice for President of Haiti

A split among the Fugees on who should be President of Haiti.  Waiting for Outkast to weigh in before I make my decision on who to support.

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August 4, 2010
What makes for science in Alabama . . .

Apparently a professor at the University of South Alabama has been researching the science of the booty call.  Had no idea that Hugh Hefner had endowed a chair at a university.  Not sure what they will studying next and not sure that I would want to post it if I did.  This would be completely out of place on those google searches.

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August 4, 2010
Alabama Football - Behined the scenes

ESPN is doing a look behind the scenes of the Alabama program.  I look forward to seeing the finished project.  Expectations for the fall could not be higher and I hope they are right. 

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August 3, 2010
The end of the leak?

Today BP begins to seal the leak in the Gulf of Mexico.  Hopefully things go well of course.  After so many false kills in the past there is a certain skepticism that BP will get it done until they actually do.  I will be down in Gulf Shores, AL next week for a little vacation.  Should be a good trip with the family and will be interesting to see for myself how things have changed down there.  Reminds me of going out after the storm to see all the destruction that just occurred.  Something a little voyeuristic about such things but part of human nature I suppose. 

It should be a good trip regardless and hope to post some pictures of what I find. 

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