patrick.net

I must say, I find anal sex rather icky too. I would not fire anyone over that, unless they don't thoroughly wash their hands after sex.

On Tuesday, Bloomberg News reported that the top Democrat and Republican on the House Financial Services Committee, Barney Frank of Massachusetts and Spencer Bachus of Alabama, respectively, said that mortgage-bond investors should be liable for deceptive lending practices.

Congressman Bachus issued a statement saying there has been no specific agreement or decision on provisions in any subprime lending reform legislation. Congressman Frank's office confirmed the no-agreement agreement on the phone. A hearing is scheduled for Tuesday, April 17.

Let's hope the committee calls some mortgage-bond investors to testify. If they can be sued for someone else's actions, they aren't going to buy any mortgage bonds. Period.

Higher yields may compensate an investor for increased risk, but they don't offer adequate protection against class- action lawsuits.

Precedent

Chairman Frank might want to call some folks from the state of Georgia, where the enactment of a Fair Lending Act in 2002 rocked the mortgage industry.

The law assigned liability for predatory lending to everyone along the food chain, from lender to securitizer to investor.

The reaction was predictable. Many lenders pulled out of the state, the rating agencies refused to evaluate the pools of home loans and the secondary market dried up.

The law, which took effect in October 2002, was amended the following March ``to address a number of unintended consequences'' and to limit assignee liability.

New Jersey's Home Ownership Security Act of 2002 had to be amended in 2004, too, because ``the market shut down,'' according to Robert Levy, executive director of the Mortgage Bankers Association of New Jersey. The amended law put limitations on assignee liability.

Liability ``does apply to high-cost mortgage loans, which carry more than 4.5 percent in points and fees and an interest rate greater than 8 percentage points over the comparable maturity Treasury,'' he says.

Aligned and Assigned

There is no market for securitized high-cost loans, Levy says, and not many loans originated.

Which is probably what Congress is getting at. The common theme to the hearings on subprime lending has been that Wall Street is ``eager to securitize, rate and buy as long as the originators feed the beast,'' Laperriere says. ``Many members of Congress want the major players in the secondary market -- holders of mortgage-backed bonds and the investment banks -- to have their interests more aligned with homeowners.''

It would seem a lot easier to fix the problem at the source, tightening regulations on the lenders themselves.

But hey, we still have two final stages of dying before the bubble is fully exorcised: depression and acceptance. If Congress follows through on its legislative reforms of the subprime market, the housing recession may turn into a depression. If that happens, can the rest of us find acceptance?

I must say, I find anal sex rather icky too. I would not fire anyone over that, unless they don’t thoroughly wash their hands after sex.

Especially in the food industry.

Bap33,

On illegal immigrants and welfare, I largely agree with you. I think both encourage the sort of lawlessness and culture of dependence that degrade the economy and social life in this country.

However, you hate beyond just disagreeable neighbors. You also want more than to be left in peace. You also want to impose your belief of God and law on others, who may have a different view.

Peter P

A company can fire anyone at any time without reason. CA is not a "right to work" state, but an "employment at will" state. The exceptions are that companies have to abide by their own self-imposed HR/personnel policies, and that companies cannot fire people solely based upon a protected status. Protected status includes, race, religion, ethnicity, age beyond 40, and in some areas sexual orientation.

I have fired many people. I am safe firing anyone even in those protected groups, and have done so more than once. I am not safe if later someone can come back and show that I *only* fire people in those groups (or a vast majority). By the way, I have never given a *reason* when I fired anyone. It is purely a separation without cause or explanation, even if they know why it has occurred, I don't reference or create a case on that.

So in practice, the only companies that have to fear legal retribution besides a small, unlucky few who get singled out by pressure groups are *big* companies and *stupid* companies. By stupid I mean small companies that go overboard on trying to appear progressive and shackle themselves with restrictive employment policies.

RE: borders

IF

1. minimum wage is repealed
2. welfare is abolished
3. flat tax is implemented

the need for a physically border will be greatly reduced.

So in practice, the only companies that have to fear legal retribution besides a small, unlucky few who get singled out by pressure groups are *big* companies and *stupid* companies.

I agree.

Also, the only persons, natural or corporate, that have to fear legal retribution are those who cannot afford legal representations.

RE: borders

I am for the elimination of all borders once the American hegemony is complete.

* I won't hold my breath.

* I won't hold my breath (waiting for DS' witty reply).

Brand,

(slightly sheepishly) Yes, phrasing scoutmasters as "fired" was overplaying my hand. I'm actually rather uncomfortable with that decision (I think it should receive rational basis scrutiny and while there's no strong evidence that gay men are more significantly more likely to be pedophiles, it should be left to the boy scouts to make that decision), though I think sexual preference discrimination should endure strict scrutiny in the employment context.

Bap33 says: perfect world?? country?? state?? county?? town?? street?? home?? room?? self …… it all stems from self Astrid. Any answer would just promote self. I believe in God, not man. I belive I was blessed to be born in the greatest country, in the best state, grew up and live in a nice county, in a small town that was awesome before the “invasion”, on a quiet street (until lately), in an itty bitty shack with a warm, dry, room. I do not deserve any of this. It is all a blessing. I did not win a lottery. But, I’m here legally. Should we desolve all borders Astrid?

Invasion?!? How is it that a country of immigrants can believe that it is under invasion from immigrants?!? Nationalist policy can make sense, but it is even more interesting when spouted by first or second generation immigrants who are trying to justify why others of their former nationality should be barred from entry. I have mine, thus nobody else should get theirs. Isn't that the logic?

I won a lottery. Of the 5-6 billion people alive, I was born in the United States of America.

My grandparents were born mostly in shacks, and a very few in farmhouses. Don't wave warm, dry and safe like it's some kind of flag. Circumstances change. Locales change. Even values change.

The more I see, the more I think that individuals aggregated together are more intelligent than the aggregate of individuals.

I prefer to be dominated by the Canadians, especially if the French Canadians are in charge of food.

I prefer to be dominated by the Canadians, especially if the French Canadians are in charge of food.

Ooh, French food. The only thing I remember of Quebec City was Fondue.

Canadians are cool.

Canada has 1/10 the population of USA and arguably more natural resources. No wonder they can afford some social programs.

Anyway, humanity sucks.

astrid: My whole point was that parents risk their children by sending them away with a stranger for long periods of time. Isn't that an idiotic thing to do under any circumstances?!? I have known scoutmasters that I thought were... of the opposite persuasion, but did not doubt them as people.

Parents are lazy. If you want to know that somebody isn't molesting your kid, BE OUT IN THE GODDAMN WOODS WITH THEM. I'd love to see a case study of scout troops with molester problems, on an axis with troops that had plenty of dads out there with them. Why are dads so totally wuss about a few bugs and chopping wood? You're wearing a football jersey and rooting fanatically for the home team, aren't you?

Maybe it's not the kids who need manliness lessons. Maybe it's you. A bunch of pretend manly guys who go to the gym to build fake muscles, wear fashionable "stubble" and then can't start a fire in your own goddamn charcoal grill. Yeah, YOU. That guy. Mr. "I look like Paul Bunyan", but don't know which end of an axe is sharp.

[/rant]

Bap33,

I'm a woman, so I hope when you say "you" you did not mean me.

As for the rest. I'm a "lib" and I don't share your view of God. However, if you can tolerate my existence, I can certainly tolerate you.

But nevertheless, people like you really do scare me. You see things in black and white, "libs"are black and the Bushies, no matter how much they lie, cheat and steal, are still God's own knights in shining armor. I'm damn scared.

you see there …… Astrid you have no trouble putting thoughts in my head. Hate??

Your head must be awfully damned empty then...

You hate Astrid, not me. You say I want to empose my beliefs in God and the law ??? Really ?? You know Astrid, the laws that protect you and me are based DIRECTLY on biblical law. So, by proxy, you follow Gods laws by choice already, without any forced compliance from me. Aint that cool?

Ok, I give you the Ten Commandments argument. But considering that God wins the war, why are you complaining that astrid loses the very tiny battle?

Brand, please put up the Boy Scouts creedo so we can go through it together. Thanks.

What's a "creedo"? I assume you mean the Scout Law: A scout is... trustworthy loyal helpful friendly courteous kind obedient cheerful thrifty brave clean and reverent.

I am not interested in going through the Scout Law with some random person, any more than I am interested in going through the Ten Commandments with an atheist. The Scout Law, the Ten Commandments, Christianity and the American value system are ingrained social constructs that are not purely syntactic in nature. The sematics far supercede the mere words.

Can we talk about cakes?

This is a strawberry thread after all.

Brioches actually make great strawberry shortcakes.

Qu'ils mangent de la brioche.

How about some 70% cocoa dark chocolate cake?

Peter P: In the last few days I find myself longing for the buttery taste of yellowfin or sake. But given my overly conservative "it it ain't made of beef, it ain't goin' in my mouth" married friends, how do I get them out to some good sushi?

There is actually an independent sushi chef in town who has a very small restaurant. A ronin chef, if you will.

I prefer to eat it thus:

cut some brioche into 1" slices
toast the brioche slightly
puree some frozen strawberry, adding a little sugar to taste
whip up some heavy whip cream or have some vanilla ice cream handy
assemble

Bap33,

I think fundamentally, we agree on a lot of things. Our semantics do get in the way of communication a lot of times. We agree on illegal immigration, on the welfare state, on the breakdown of the family and the self indulgence and excess of modern life.

However, I do not want to brush aside our differences as if it does not exist. Doing so would be disrespecting your intelligence and the depth of your belief. It is there and it goes deeper than disagreeing on individual issues. We have very different world views and your expressed belief before doesn't really leave a place for "libs" like me. If I've sounded overly hostile and "hateful," it comes out of my sense of futility.

I think I'm going to be sick tomorrow from eating my homemade chicken wing confit.

The ACLU does not recieve any government funding, not even the tax break that non-profits recieve. I know because I have been a member for a decade.

Thanks for reminding me to renew my membership.

Oh no. A liberal declaring futility debating with a conservative.

astrid says: However, I do not want to brush aside our differences as if it does not exist. Doing so would be disrespecting your intelligence and the depth of your belief. It is there and it goes deeper than disagreeing on individual issues. We have very different world views and your expressed belief before doesn’t really leave a place for “libs” like me. If I’ve sounded overly hostile and “hateful,” it comes out of my sense of futility.

C'mon, astrid. I feel like we're singing, Cooooom-bay-ah, My Lord, cooom-bay-ah. But not with the Lord, and maybe not with cooom-bay-ah, since that might be perceived as "foreign". Freedom isn't a bunch of citizens in a circle around a campfire singing hippie songs.

I'm not sure what Bap33's worldview is. I'm not sure I value it. I'm tired of a society where I have to "value" every viewpoint--metrosexual dads whining that food should be brought to us on campouts, gay scoutmasters asking for unrestricted access to little boys, ambitious minorities complaining about the glass ceiling and the white men complaining that anti-glass ceiling initiatives cost them advancement.

I'm just a dude who wants to find a normal wife so I can teach my kids how to use a pocket knife, chop wood, believe in God, understand classical ethics and have a critical scientific mind. Is that too much to ask? :)

Peter P: In the last few days I find myself longing for the buttery taste of yellowfin or sake. But given my overly conservative “it it ain’t made of beef, it ain’t goin’ in my mouth” married friends, how do I get them out to some good sushi?

Bring them to a place with beef sashi or tataki. Try Kampachi as well. :)

There is actually an independent sushi chef in town who has a very small restaurant. A ronin chef, if you will.

Where?

my “thoughts” comment was supposed to say Astrid is able to read my mind — thoughts in my head that way — tell what I’m thinking .. ect. My writtten communications stink.

Women are generally more psychic than men.

Butterfish sashimi is also good. IIRC it was also one of the favorites of MarinaPrime.

Brand,

(I miss the good ole days when I could run to an airport 10 minute before departure time and still catch the plane.)

Be careful with those dangerous pocket knives (and dangerous perfume bottles), I've lost quite a few to airport security.

I don't like the schizophrenic nature of modern American society. On one hand, it wants everything to be packaged, sanitized, side curtain airbagged and beeped out. On the other hand, it glamorizes violence and courts danger. (The two impulses meet in Iraq). People nowadays are detached from how their food is produced, from their family members, from the consequences of their actions and even from their very own mortality.

Hmm, normal wife you say. Good luck. Maybe if SQT or SFWoman gets divorced or cloned, you could have a shot :)

"no matter how much they lie, cheat and steal, are still God’s own knights in shining armor. I’m damn scared"

In another words.
"I did not have sex with that woman."

In another words.
"We should raise taxes for social problems due to irresponsible people".

Hum!!!! As a native Californian nothing scares me more than liberals from the east coast coming into our state and telling us how to run it. I have to hand it to the NYC liberals who failed in their social experiment with NYC back in the 70s. Made a nice mess...

astrid: You can't clone SFWoman. There is no replicating a smart woman who forms her own opinions and arrives at a sensible conclusion.

Peter P.: Alas, I can locate sushibykevin.com no longer. Perhaps the ronin has caved to corporate pressures. He was a sushi chef with French influences. Very good. About $20-40 per head if you wanted a very nice meal, close to the university and rather intimate.

I miss the good ole days when I could run to an airport 10 minute before departure time and still catch the plane.

It is called a private jet. You can get there 10 minutes after the "departure" time and it may still wait for you. :)

Perhaps the ronin has caved to corporate pressures.

Sad. :(

$20 - $40 per head for a nice sushi meal is more than reasonable.

more than reasonable

I meant "very reasonable."

Space Ace,

I've got plenty of bones to pick with the Clintonites and I'm firmly against Hilary '08. However, lying about an embarrassing sexual escapade with a consenting intern in a dead end inquiry into a land deal gone bad is a lot less serious than lying about weapons of mass destruction and already getting 3,200 young Americans killed.

The Clintonites and the current Democratic congress is also a lot more fiscally responsible than the Bushies, even if they are not as fiscally responsible as I want them to be.

Anyways, why the hell would I tell Californians how to run their completely messed up state (messed up all by themselves via Prop 13 and whatnot)? My name is astrid, not Atlas.

To be clear, California is a right to work state. Randy confused that in his point. Unions cannot bar non union people from working, that is what right to work means. It is an at will state for separation, the two are not mutually exclusive.

As for proving discrimination, the statistical measure is the 4/5ths rule. In other words protected groups need to be promoted or benefit at at least 80% of the majority population rate of the firm. So if 60% of white applicants are successful 48% of protected applicants for hire or promotion should be successful. Even if it is not diliberate the EEOC can bring allegations forward on the legal theory of adverse impact.

I think many people here belong to libertarian group. They enjoy social liberty but they also hate welfare to some degree.

Welfare is the best way to protect poverty. Not poor people. Poverty.

My name is astrid, not Atlas.

Astrid Shrugged.

$

Peter P,

Tempting but no. Wastes too much fuel. Even if I had the money for a corporate jet, I hope I will choose to fly commercial.