the Fed did Indeed Cause the Housing Bubble

http://solari.com/blog/?p=2293 One story, for example, is the following: “In 1995, a senior Clinton Administration official shared with me the Administration’s targets for Fannie Mae and Freddie Mac mortgage volumes in low- and moderate-income communities. We had recently reviewed the Administration’s plans to increase government mortgage guarantees — most of these mortgages would also be pooled and sold as securities to investors. Even in 1995, I could see that these plans would create unserviceable debt loads in communities struggling with the falling incomes expected from globalization. Homeowners would default on mortgages while losses on mortgage-backed securities would drain retirement savings from 401(k)s and pension plans. Taxpayers would ultimately be hit with a large bill . . . but insiders would make a bundle. I looked at the official and said that the Administration was planning on issuing more mortgages than there were houses or residents. “Shut up, this is none of your business,” the official snapped back.”

The thing I miss most about NYC is all the elevators. I would quietly fart and then sneak out. That’s where I perfected my poker face.

It is my dream to drop a silent but deadly in a crowded elevator, but alas it has never came to be.

I’ve only done it before or after people have been on the elevator. Never during.

Drink iced coffee with lots of soy milk. You’ll be able to fart on demand and your prostate will thank you (not for the farts but for the soy isoflavinoidals).