Here is Warren Buffett interview by Tom Brokaw on Dateline NBC. Buffett is very positive on Obama’s leadership. (7 min):
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NYC, Politics, and Tech
Here is Warren Buffett interview by Tom Brokaw on Dateline NBC. Buffett is very positive on Obama’s leadership. (7 min):
Visit msnbc.com for Breaking News, World News, and News about the Economy
This is a great map from the Wall St Journal about the fighting in Gaza. Click on the image below to go to the interactive map. Once there, you can click on the calendar for day to day events.
From
:
Some parties in NY to celebrate the inaugural
The Living Liberally Inaugural Ball. Sunday, January 18th - 8pm Rush - 6th Avenue @ 16th Street
Date: from 1/19/2009 7:00 pm to 1/20/2009 1:00 am (Eastern Time)
I usually expect the occasional questionable or just plain corrupt contracting out of any government. The billions that have been wasted by
iraq, lost
or mis-managed for Katrina just leave me numb and not wanting to think about how poorly the federal government is managed.
But then along comes a report of some small (relatively, compared to $billions) graft and it leaves me thinking: “Does the corruption ever end under the Bush Administration”?
From Exclusive: Pentagon Pro-Troop Group Misspent Millions, Report Says | Danger Room from Wired.com
From fiscal years 2004 to 2007, the Inspector General’s report notes, Barber funneled $8.8 million in contracts to the public relations firm Susan Davis International — to set up the myriad events, and to promote the ASY “brand.” The work was incredibly lucrative; Davis’ executives made as much as $312,821 to $662,691 per year. “Paying a public relations contractor annual salaries approaching three-quarters of a million dollars does not appear to be a cost-effective means to support the ASY program and the war fighter,” the report observes.
But what made it even harder to stomach was that Davis was a friend of Barber’s, and a well-known Republican operative, according to former Defense Department lawyer Diane Beaver. Another half-million went to media consultant Mitch Semel, for web work.
Great takedown by Barry Ritholtz of this poorly reasoned NY Times Op-ed by Howard Husock
From More CRA Idiocy
The Community Reinvestment Act of 1977 was the next attempt to stop redlining. There were two main aspects of the CRA: First, it required banks to apply the same lending criteria in all communities. Credit Score, Loan-to-value, percentage of monthly take home, etc. had to be the same across different areas.
Second, the Community Reinvestment Act required banks to make good faith attempts to loan the money back to its own depositors. If you open up a branch in Harlem, you cannot suck up all the local business and residents cash, and then turn around and only lend it out to Tribeca condo buyers. You must make a fair attempt to loan the money locally. Banks have no obligation to open branches in Harlem, but if they did, they are required to at least try to lend the locals back their own money.
Note that there are no quotas, minimums or mandates. This is a very soft rating system.”
More on bogus claim the auto workers making $70/hour.
From Economic Scene – Figure Skews Debate of a Bailout for Detroit – NYTimes.com
“We’ve heard this garbage about 73 bucks an hour”, Senator Bob Casey, a Pennsylvania Democrat, said last week. “It’s a total lie. I think some people have perpetrated that deliberately, in a calculated way, to mislead the American people about what we’re doing here.”
Here’s a nice graphic:

I still think it’s too risky a time to buy a house. The real estate market won’t shoot up that fast if you mis-time it by a year!
This article is trying to suggest it may be a good time (interest rates may drop to 4.5%!!!!) but don’t miss out on those little nuggets of reality:
From It May Be Time to Think About Buying a House
buyers in 33 of the markets could see a decline by 2012, including potential six-figure drops on an average home in the New York City, Los Angeles, San Francisco and Seattle metropolitan areas.

Here is yet another diagram showing how the price/(yearly rent) ratio was historically stable around 15. Not the last few years. So either rents need to go up (not very likely) or house prices need to come down.
Moreover, the relationship between rent and home prices showed remarkable stability. In recent
decades, the median home price has been roughly 15 times median annual rent

Here’s a link to the original report
I like this saying:
I’ve never met a rich pessimist
Not sure why I’m obsessing about it but here’s a photo takedown of the Creationist Musuem
One of my fears, in the sense of something that would cause me to move to another country, was that “Intelligent Design” would start being taught in public school. This seemed horribly possible with the way the Bush administration was treating scientist and science based results. Maybe this is another thing that’ll change in the Obama administration.
From Back to Reality
In his disturbing book “Undermining Science: Suppression and Distortion in the Bush Administration,” the journalist Seth Shulman describes case after case of intimidation of scientists in government posts, the suppression of scientific evidence and the perpetuation of misinformation.