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PIRÆUS PICTURE Co. is a fresh video enterprise with the heart of cinema. Piraeus’ first political ad ousted 4 term incumbent, Jim Camblos as the Virginia Commonwealth's Albemarle's Attorney. The ad was commissioned by a local PAC, Crime Victims United of VA. Camblos blamed the ads in his concession speech. ...read more
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"Politics is the art of the possible" - Otto von Bismarck
Glenn Greenwald: An Interview with The Art of the Possible
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Commenter Micha questions whether or not we should have any kind of bailout at all. He correctly notes that the way the administration is aggressively trying to intimidate members of Congress into accepting the flawed Paulson plan is very reminiscent of 2003. Micha asks: (more…)
Jackson have posted before about how publicly built highways are not an expression of the free-market. Now, via Yglesias, we see another way in which our tax dollars go to support the automobile’s dominance in America — subsidized parking.
Daniel Gross, one of my favorites on Slate, explains in no uncertain terms why the senate’s “Foreclosure Prevention Act” is such a terrible idea. (more…)
In my post, After Greed comes Fear, I excoriated the role of the unregulated market in the current sub-prime mess we’re in. Quasibill cried foul, pointing out quite rightly that the whole concept of mortgage-backed securities started off with Fannie Mae, Freddie Mac and all the rest of those cutely acronym-portmanteau-ed government-sponsored enterprises. To quote ‘Bill directly, “to lay this turd at the feet of “unregulated markets” has the causation entirely backwards.”
My response? I both agree with ‘Bill, and I stand by my post. It is possible for there to be both simultaneously too much government influence AND too little regulation. Read on… (more…)
There have been so many defaults on mortgages and the housing market is in such freefall that the chief investment analyst at Johnson Illington told NPR that for now at least, nobody want’s to touch them.
JOHNSON: If there are no buyers and you can’t sell it, it’s probably worth nothing…when you can’t sell a security, it’s really worthless.