Welcome back to LibertyWeek, where your hosts Richard Morrison and Cord Blomquist bring you the best in news and views, always from the perspective of free markets and limited government. This week we start with praise for the new look and feel of OpenMarket.org: the blog you want to read. We then move on to the most delicious edition of Scandal Watch yet – the arrest of Illinois Gov. Rod Blagojevich on federal charges of “staggering” corruption. After that we look at the demise of Rep. William “Freezer Cash” Jefferson, the rise of Rep.-Elect Anh “Joseph” Cao, investigations into the mortgage mess, how taxpayers get trashed by recycling mandates and a debate over the ethics of scalping tickets in Olympic News.
# Special thanks to Josh Barro for the Tweet of the Week.
December 15th, 2008 at 12:18 am
We see men dominating the government or corporate leadership and stewardship. They are idealistic to tackle and resolve government and economic issues. In Washington DC on Tuesday, December 9th, the mortgage firms were subject to a hearing by the House Oversight Committee where they were grilled by Congress over their corporate strategies that led to the near destruction of their companies. What had apparently happened was that the leadership of those companies had invested in mortgage backing for their cash flow. So they basically bought other people’s debt, thinking that it meant instant cash flow, especially when they raised the interest rates on the mortgages that they purchased. Borrowers who had borrowed money from irresponsible lenders started defaulting on their loans, thus, the companies that had bought their debt began to stagger towards the brink. House Oversight Committee Chairman Henry Waxman called their action irresponsible, especially after senior risk managers had questioned the call to make and invest in such loans. This shocking incident emphasizes the importance of being extremely responsible with your finances. Click to read more on Fast Payday Loans.
December 15th, 2008 at 12:21 am
We see men dominating the government or corporate leadership and stewardship. They are idealistic to tackle and resolve government and economic issues. In Washington DC on Tuesday, December 9th, the mortgage firms were subject to a hearing by the House Oversight Committee where they were grilled by Congress over their corporate strategies that led to the near destruction of their companies. What had apparently happened was that the leadership of those companies had invested in mortgage backing for their cash flow. So they basically bought other people’s debt, thinking that it meant instant cash flow, especially when they raised the interest rates on the mortgages that they purchased. Borrowers who had borrowed money from irresponsible lenders started defaulting on their loans, thus, the companies that had bought their debt began to stagger towards the brink. House Oversight Committee Chairman Henry Waxman called their action irresponsible, especially after senior risk managers had questioned the call to make and invest in such loans. This shocking incident emphasizes the importance of being extremely responsible with your finances. Click to read more on Fast Payday Loans.