Tuesday, October 14, 2008

Why does Charles Schumer hate Mary Landrieu?


Any good Republican can tell you that CREW is just a liberal front group, so it's interesting to see the GOP cite CREW when campaigning against Landrieu. I'm sure that the state GOP will consider CREW a reputable organization when David Vitter seeks re-election.

Back to New Orleans matters in future posts, but I've been busy and that was quick and easy.

Update: The title was a reference to the second link above. Of course, Minnesota Republicans claim the CREw is a "Team Franken front group." The point isn't to defend Landrieu, although the original report was a bit inflammatory, but to establish that Republicans campaigning in Louisiana consider CREW a reputable source of information.

On the subject of Republicans, what Clinton initiative are they going to blame this on?
The troubles sound familiar. Borrowers falling behind on their payments. Defaults rising. Huge swaths of loans souring. Investors getting burned. But forget the now-familiar tales of mortgages gone bad. The next horror for beaten-down financial firms is the $950 billion worth of outstanding credit-card debt—much of it toxic.
Sure, the credit-card market is just a fraction of the $11.9 trillion mortgage market. But sometimes the losses can be more painful. That's because most credit-card debt is unsecured, meaning consumers don't have to make down payments when opening up their accounts. If they stop making monthly payments and the account goes bad, there are no underlying assets for credit-card companies to recoup. With mortgages, in contrast, some banks are protected both by down payments and by the ability to recover at least some of the money by selling the property.

I don't get the title.
Maybe it was too quick and easy, click the second link. I'll have to make that little more obvious when I get the chance.
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