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On banks, oil, and candidates. Oh my! |
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First, from the corporate world…
In a little financial consolidation, Bank of America made headlines today for “agreeing to buy” mortgage lender Countrywide Financial (not exactly a hostile takeover) which is in financial ruin due to the infamous “subprime” crisis.
More so than farms or refineries, it is giant agribusinesses such as Monsanto and Cargill that are profiting on ethanol.
And in a victory for oil companies (and some well-greased civil servant in Abuja) the Nigerian government has decided to allow gas flaring in the Niger Delta after all.
For something completely refreshing, a roundup on the 2008 presidential race…
Gentlemen, please stop saying demeaning things like “Iron my shirt!” at Hillary rallies. You are improving her turnout.
Texas’ most famous OBGYN, Congressman Ron Paul, is the only Republican candidate who seems to think invading Iran is a bad idea.
Though he’s happy to remind us he has plenty of money, Rudy Giuliani has asked his leading campaign staff to kindly work for free this month.
Ever the performer, the good Reverend Huckabee seems confused on his views on teaching evolution.
An Obama supporter hates on the “sunny bipartisan talk.”
Kucinich highlights the need for greater election integrity.
And speaking of all things subprime, a brilliant quote from Hillary, as she addressed a largely Latino community on “unscrupulous” lending and poverty: “We treat these problems like one is guacamole and the other is chips when…they go together!“
That bailout of Countrywide is a huuuge risk. The buyout buoys Countrywide’s stock, of course, but if we haven’t seen the worst of the subprime crisis, soon Bank of American will be in trouble. So, the bet is we’ve seen the worst of the foreclosures already. I can’t say I’m confident in that assessment…