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And I'm ending up having to stay another day, endure another beesabohl game... but this is life. Please let me know what's been happening, and I hope to be able to catch up by tomorrow night.....
XOXOXOX
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love, 99
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Democrats, Obama willing to scale back energy and climate change billI'm getting this sick feeling in the pit of my stomach that Alex Jones' maniacal raving about the NWO wasichu planning to make us all carbon tax slaves in their relentless drive to rule the world might be a little closer to the truth than most of us dared fear. I mean, whut's this about everything being negotiable accept the price on carbon? That is about the same as saying, Yes! Write up a few thousand pages of NO energy or climate improvement measures whatsoever, but don't fuck with the carbon tax.
By DARREN SAMUELSOHN | 6/29/10
Key Senate Democrats offered, during a White House meeting with President Barack Obama and skeptical Republicans on Tuesday, to scale back their ambitious plans to cap greenhouse gases across multiple sectors of the economy.
Sens. John Kerry and Joe Lieberman told reporters after the 90-minute West Wing meeting that Obama held firm in his calls for a price on greenhouse gases. But they said the president acknowledged that he could agree to a more limited climate and energy bill than any the senators had previously drafted.
“We believe we have compromised significantly, and we’re prepared to compromise further,” Kerry said.
"The president was very clear about putting a price on carbon" and curbing greenhouse gases, he added.
Lieberman said a couple of Republicans in the meeting promised to keep talking about the prospect of a less-ambitious climate program that includes a price on carbon, though he wouldn't name names.
Kerry and Lieberman released a climate bill last month that capped greenhouse gases emitted by power plants, transportation and trade-sensitive manufacturers.
Reaction to their bill has been lukewarm, and the duo said they would keep talking to senators on both sides of the aisle during the coming weeks to try to find a deal that could win 60 Senate votes.
Asked whether a power plant-specific bill was in the cards, Kerry replied, “There are any number of varieties. That could be one of them."
Energy and Natural Resources Committee Chairman Jeff Bingaman confirmed on Monday that he's drafting legislation to cap greenhouse gases just from power plants.
Republican Sens. Lamar Alexander, Susan Collins, Judd Gregg, Richard Lugar, Lisa Murkowski, Olympia Snowe and George Voinovich also attended the White House meeting, but left with a very different message than their Democratic counterparts.
“We’ve got to take a national energy tax off the table in the middle of a recession,” said Alexander, chairman of the Senate GOP Conference.
Gregg, who previously has backed emission limits just on power plants, urged Democratic leaders to focus solely on an energy bill that includes incentives for renewables, but no price on carbon emissions. "Our goal should be reducing our dependence on oil from people don't like us,” he said.
Obama’s meeting with the senators, including Majority Leader Harry Reid, ran overtime. It was originally scheduled to last less than an hour.
The White House press office also abruptly canceled a brief pool spray during which TV cameras and reporters were to be shuttled in for remarks by the president. White House officials said the cancellation was because of "scheduling considerations."
A White House statement released after the meeting acknowledged tensions in the room.
"The president told the senators that he still believes the best way for us to transition to a clean energy economy is with a bill that makes clean energy the profitable kind of energy for America’s businesses by putting a price on pollution – because when companies pollute, they should be responsible for the costs to the environment and their contribution to climate change. Not all of the senators agreed with this approach, and the president welcomed other approaches and ideas that would take real steps to reduce our dependence on oil, create jobs, strengthen our national security and reduce the pollution in our atmosphere."
Obama indicated he saw "a strong foundation and consensus on some key policies.
"There was agreement on the sense of urgency required to move forward with legislation and the president is confident that we will be able to get something done this year," the White House added.
About half of U.S. mortgages seen underwater by 2011No, really.
Wed, Aug 5, 2009, 5:12pm, EDT
By Al Yoon
NEW YORK (Reuters) - 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.
Deutsche's dire assessment comes amid a bolt of evidence in recent months that point to stabilization in the U.S. housing market after three years of price drops. This week, the National Association of Realtors said pending home sales rose for a fifth straight month in June. A widely watched index released in July showed home prices in May rose for the first time since 2006.
Covering 100 U.S. metropolitan areas, Deutsche Bank in June forecast home prices would fall 14 percent through the first quarter of 2011, for a total drop of 41.7 percent.
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.
If in your travels you meet the Buddha, throw him through your tv set.
—Davis Fleetwood