Year: 2009

Sotomayor is approved to Supreme Court

I have blogged about this before; but I will write a few lines about it again. As much as I hate repeating myself. 🙄

Voting largely along party lines, the Senate on Thursday confirmed Judge Sonia Sotomayor as the 111th justice of the Supreme Court. She will be the first Hispanic and the third woman to serve on the court.

Chief Justice John G. Roberts Jr. was expected to administer the oath of office to Judge Sotomayor, 55, in the next few days, with a formal ceremony likely in September. She succeeds Justice David H. Souter, who retired in June.

Democrats celebrated the successful nomination and relatively smooth confirmation process as a bright spot in a summer when they have been buffeted by several challenges, including rocky progress on their attempts to overhaul the nation’s health care system, President Obama’s falling approval ratings, the climbing unemployment rate and other lingering economic problems.

Shortly after the vote, President Obama said he was “deeply gratified” and confident that Judge Sotomayor would become an outstanding justice. The ideals of “justice, equality, opportunity” that guide the high court are the very ones that made the judge’s “uniquely American story” possible in the first place, the president said.

via Senate Approves Sotomayor to Supreme Court – NYTimes.com.

As I have written here time and again, Elections have consequences and this, again, is one of the consequences of that election. The Republicans chose to run a rather idiotic political campaign through John McCain; one based upon fear and utter stupidity and they lost. They lost in 2006 and then lost horribly again in 2008. This also was the result of the Republican Party’s support of a Wilsonian style of rule for 8 years. This cost them horribly and rightfully so.

I hope that the Republican Party here in the next four to eight years will renounce this idiotic Wilsonian foreign policy nonsense and will develop a sensible approach to foreign policy. There are signs that some within that party are coming out from under the spell of the George W. Bush Wilsonian stupor. I hope that this will continue as time goes on.  The encouraging thing is that there are still some Conservatives on the bench and Mrs. Sotomayor is not the only person up there. There are some within Conservative ranks, which act as if she will be the only person in the Supreme Court; of course, that is foolishness. Hence the remark about fear mongering earlier.

Surprisingly there are some Progressive Liberals who do not believe that she is Liberal enough for the court; and likewise, there are some within the Gun Community, who believe that she is too liberal. The Lady cannot win, she is either one or the other, and she cannot be both! (Well, she could, but it would be weird! 😆 )

My feelings are this; time will tell. While I doubt highly that, her approval will drastically change anything in the short run; time will tell in the long run. This should give Conservatives and yes; Republicans pause and cause them to begin to think about the future of America. It should and I do say, Should; give them motivation to get off the stupidity and get back to the Business of saving this wonderful Republic of ours.

Yikes! – About half of U.S. mortgages are seen to be underwater by 2011

Tim Geithner call your office!

The percentage of U.S. homeowners who owe more than their house is worth will nearly double to 48 percent in 2011 from 26 percent at the end of March, portending another blow to the housing market, Deutsche Bank said on Wednesday.

Home price declines will have their biggest impact on prime “conforming” loans that meet underwriting and size guidelines of Fannie Mae and Freddie Mac, the bank said in a report. Prime conforming loans make up two-thirds of mortgages, and are typically less risky because of stringent requirements.

“We project the next phase of the housing decline will have a far greater impact on prime borrowers,” Deutsche analysts Karen Weaver and Ying Shen said in the report.

Of prime conforming loans, 41 percent will be “underwater” by the first quarter of 2011, up from 16 percent at the end of the first quarter 2009, it said. Forty-six percent of prime jumbo loans will be larger than their properties’ value, up from 29 percent, it said.

“The impact of this is significant given that these markets have the largest share of the total mortgage market outstanding,” the analysts said. Prime jumbo loans make up 13 percent of the total market.

via About half of U.S. mortgages seen underwater by 2011 | Reuters.

I wonder what “The One” will do about this? Cash for Refinancing?

Here’s why:

The drop in home prices is fueling a vicious cycle of foreclosures as it eliminates homeowner equity and gives borrowers an incentive to walk away from their mortgages. The more severe the negative equity, the more likely are defaults, since many borrowers believe prices will not recover enough.

Homeowners with the riskiest mortgages taken out during the housing boom have seen the greatest erosion in equity, in part because they were “affordability products” originated at the housing peak, Deutsche said. They include subprime loans, of which 69 percent will be underwater in 2011, up from 50 percent in March, Deutsche said,

Of option adjustable-rate mortgages — which cut payments by allowing principal balances to rise — 89 percent will be underwater in 2011, up from 77 percent, the report said.

Regions suffering the worst negative equity are areas in California, Florida, Arizona, Nevada, Ohio, Michigan, Illinois, Wisconsin, Massachusetts and West Virginia. Las Vegas and parts of Florida and California will see 90 percent or more of their loans underwater by 2011, it added.

“For many, the home has morphed from piggy bank to albatross,” the analysts said.

It is classic; The textbook reason why you DO NOT give home loans to high risk persons. Because they are the first to lose their jobs when the economy takes a dump.  This is the invention of the Clinton Administration. But yet, no one on the left wants to blame slick willy. Call it the Clinton bubble, call it a huge screw up by the Democrats. I call it reality. Welcome to the Obama Economy and the Democratic Future, brought to you by Clinton stupidity.

A Blogger friend of mine needs help

realmeHis name is Sammy, He is Jewish.

I razzed him once about something and pissed him off. After a while, I felt like a dick and apologized. After we became friends, I learned much about Sammy, I found out we had much in common.

Anyway, Sammy’s now looking at some hard times right now; I can relate; many can, times are tough. I however, have a safety net of sorts. Sammy does not, he is toughing it out and making due. Job prospects are bad and he might have swallow hard and do the Walmart thing.

If you can head on over to Sammy’s Blog and give a buck or two. Consider it an act of charity to a man, who is not drinking the Kool-Aid.

Click here to read Sammy’s Blog Posting.

…..and Thank you.

BREAKING NEWS: Democratic Rep Brad Miller's Life Threatened over Healthcare Bill

Sigh….Why do people do dumb crap like this?!?!?!

Rep. Brad Miller (D-NC) will not be hosting any town hall events this August — instead, he’s making himself available to constituents for one-on-one meetings about health care reform — and at least part of the reason is this: His offices have received threatening phone calls, including at least one direct threat against his life.

“We had no town hall events scheduled for the August recess anyway, but in light of everything that’s happened — we have received a threatening phone call in the D.C. office, there have been calls to the Raleigh office,” said Miller communications director LuAnn Canipe, in an interview with TPM. The threatening call in question happened earlier this week.

“The call to the D.C. office was, ‘Miller could lose his life over this,'” said Canipe. “Our staffer took it so seriously, he confirmed what the guy was saying. He said, ‘Sir is that a threat?’ and at that time our staffer was getting the phone number off caller ID and turning it over to the Capitol Police.”

They haven’t heard anything back from the police yet, but they did get the caller’s number. So this could develop into something soon enough.

via Dem Congressman’s Office: His Life Has Been Threatened Over Health Care Bill | TPMDC.

This is extremely wrong and very stupid.

Blue Crab Boulevard calls B.S.:

First of all – he had no town hall meetings scheduled – so what, exactly, is he canceling? Let’s face it, Propaganda Points Memo is not exactly a trustworthy source for anything resembling truth, but in this case, the claim is so egregious that it begs for confirmation.

Either produce a police report or stuff your report. This event, according to the report, was reported to the Capitol Police. Produce the report.

A congressman who had no plans to hold town hall meetings excitedly reporting that he is canceling all of his nonexistent town hall meetings stinks out loud of publicity stunt. Produce the report.

Or else you are a fraud. No middle ground here.

Well, I am not taking any chances. To All of the visitors here at PoliticalByline.com. Let me make this absolutely clear. I DO NOT CONDONE, AT ALL; THE USE OF THREATS  OF OR ACTUAL PHYSICAL VIOLENCE TO ACCOMPLISH A POLITICAL GOAL! THAT IS TERRORISM AND IT IS WRONG! 😡

I personally hope that whomever the bonehead was that made such a threat will end up spending some quality time behind bars. While I opposed to the socialism of the Liberal Left; this sort of nonsense is uncalled for and must be stopped. We have a peaceful process in this country, it is called political discourse and elections. Let us stick to that please. We are not Iran or North Korea people, let’s not act like them.

Others: Firedoglake, Now! Hampshire, Glenn Thrush’s Blog, Blue Crab Boulevard, Talking Points Memo and D-Day