April 20, 2014

Sunday Off-Topic (Moderated) Open Thread (042014)

Filed under: Lucid Links — Tom @ 6:05 am

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April 19, 2014

Saturday Off-Topic (Moderated) Open Thread (041914)

Filed under: Lucid Links — Tom @ 6:05 am

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April 18, 2014

Friday Off-Topic (Moderated) Open Thread (041814)

Filed under: Lucid Links — Tom @ 6:05 am

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Fantabulous “housing recovery” update:

The campaign to align staffing levels with mortgage production volume is continuing at Wells Fargo & Co., which has already cut thousands of mortgage jobs.

Mortgage Daily tracked more than 6,000 mortgage-related layoffs that took place during the fourth quarter at the San Francisco-based company.

Those layoffs were on top of 5,300 mortgage jobs that were eliminated in the third quarter at Wells Fargo.

April 17, 2014

Thursday Off-Topic (Moderated) Open Thread (041714)

Filed under: Lucid Links — Tom @ 6:05 am

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GM Risked Lives to Save 25 Cents Per Car — and the Obama administration’s stepchild wants to shield itself from accountability as a result of its 2009 bankruptcy subterfuge (“Oh, that was OLD GM, which is gone; we’re NEW GM”).

Really? If they’re so completely separate, then how about giving back the billions in corporate income taxes not paid because the Treasury Department allowed NEW GM to use OLD GM’s net operating loss carryforwards?

Even better idea — Let’s nuke this attempted defense, and see where it takes us:

… even if one were to believe that Old GM was somehow engaged in “fraud on the court” with respect to the ignition defect (overlooking the difficulty that the bankruptcy court was not a safety regulator and there is really nothing in the bankruptcy code or logic that requires extensive disclosure in a sale context about a liability that is not moving anywhere in the sale), it is hard to see how New GM could be tagged with the assumed fraud.

One has to demonstrate a “fraud on the court” to overcome a one-year “fraud by the seller” limitation on legal action. If it’s a “fraud on the court,” there’s apparently no time limit.

The problem with that defense is that NEW GM at the time of the bankruptcy was the government, which had exclusive control over the entire process, and arbitrarily doled out shares in the new company based on doing favors to its UAW employees and certain lenders and bondholders (while putting the screw to others).

If it can be shown in documentation or drawn out in sworn testimony that agents of the government (i.e., car czar Steve Rattner and his crew) knew about the ignition problem and did not disclose it to the court throughout the Chapter 11 proceedings … that sure looks like a “fraud on the court” to me. If so, NEW GM would and should indeed be “tagged with the assumed fraud,” and be forced to deal with the tort claims based on the problem it deliberately chose not to disclose.

Following logically from that, the “pump and dump” U.S. Treasury Department should be subject to a class action suit for waiting until it had fully exited GM to allow what its agents knew all along to finally see the light of day.

Also: At Huffington Post (!) — “So Much for the Great GM Bailout”

April 16, 2014

Wednesday Off-Topic (Moderated) Open Thread (041614)

Filed under: Lucid Links — Tom @ 6:05 am

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April 15, 2014

Tuesday Off-Topic (Moderated) Open Thread (041514)

Filed under: Lucid Links — Tom @ 6:05 am

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Fantabulous “housing recovery” update: “Mortgage originations have plummeted by more than 70 percent from a year ago at Citigroup Inc. and were down by more than a third from the prior quarter.”

April 14, 2014

Monday Off-Topic (Moderated) Open Thread (041414)

Filed under: Lucid Links — Tom @ 6:05 am

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9:00 a.m. — “Housing Recovery” Factoid of the Day“Mortgage production has never been this low during any quarter since Mortgage Daily began tracking Wells Fargo’s originations in 2003.”

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3:00 p.m. — An emailer reacted to my Saturday post about the Bundy standoff:

I love the comment below the picture: “I wish my Government would put this many resources on the southern border…..”

My friend told me the other day: “I wish the government would protect our borders the way they can protect a pheasant”!

It is time to point this out, the government can track down and find some guy who shot a moose in Alaska (the greatest frontier on Earth) outside of hunting season, but they can’t find one single illegal crossing a desert, and he is not even hiding.

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3:45 p.m.Daily Caller: “Most Americans don’t think Obama is black.” Well, that’s because he’s not.

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4:15 p.m. — Author Brad Thor and his family are leaving Chicago for Nashville. Why? ” I love Chicago + Illinois but the Democrat party left us no choice” (HT Twitchy).

April 13, 2014

Sunday Off-Topic (Moderated) Open Thread (041314)

Filed under: Lucid Links — Tom @ 6:05 am

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At the Sacramento Business Journal (HT Breitbart) — “The California High-Speed Rail Authority’s latest business plan suggests the agency could run out of money next year unless it overcomes legal and legislative funding hurdles.”

Additionally, back in February, “Lt. Gov. Gavin Newsom, once a strong supporter of California’s high-speed rail project, told a conservative radio show host … that he no longer backs the bullet train and would like to see the money diverted to other projects.”

Governor Jerry Brown is determined to get this Mother of All Boondoggles started so he can then dare opponents to stop it.

April 12, 2014

Saturday Off-Topic (Moderated) Open Thread (041214)

Filed under: Lucid Links — Tom @ 6:05 am

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April 11, 2014

Friday Off-Topic (Moderated) Open Thread (041114)

Filed under: Lucid Links — Tom @ 6:05 am

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April 10, 2014

Thursday Off-Topic (Moderated) Open Thread (041014)

Filed under: Lucid Links — Tom @ 6:05 am

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It was a year ago, it but deserves notice: On March 23, 2013, 46 Senators, including 44 Democrats and the two “Independent” leftists, voted AGAINST a Senate resolution “To uphold Second Amendment rights and prevent the United States from entering into the United Nations Arms Trade Treaty.” One of the “No” votes was Ohio’s own Sherrod Brown.

In September, the U.S. “became the 91st country to sign when U.S. Secretary of State John Kerry put pen to paper.” The treaty would still need to be ratified by the Senate to be valid under the Constitution, assuming anyone pays attention to that any more.

Despite reassurances to the contrary, there is every reason to believe that the U.N. treaty, if ever ratified, would be a wedge the world body would use to usurp national sovereignty.

We’re supposed to be reassured that the Obama administration negotiated the following language into the treaty before signing it: ”non-intervention in matters which are essentially within the domestic jurisdiction.” Sorry, guys. No sale, because it all depends on what “essentially” means; that word wouldn’t be there if they were truly serious.

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The incident involved happened in 2012, but the conditions creating such incidents have only gotten worse — “Car With ‘Co-Exist’ Bumper Sticker Runs Over Pro-Life Display”

April 9, 2014

Wednesday Off-Topic (Moderated) Open Thread (040914)

Filed under: Lucid Links — Tom @ 6:05 am

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April 8, 2014

Tuesday Off-Topic (Moderated) Open Thread (040814)

Filed under: Lucid Links — Tom @ 6:05 am

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April 7, 2014

Monday Off-Topic (Moderated) Open Thread (040714)

Filed under: Lucid Links — Tom @ 6:05 am

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April 6, 2014

Sunday Off-Topic (Moderated) Open Thread (040614)

Filed under: Lucid Links — Tom @ 6:05 am

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