A rare 710-year-old copy of the Magna Carta was sold at auction for $21.3 million this week. The sale price made Bush regret, for the first time, that he sold the Bill of Rights for only $4.7 million.
A fire broke out in Dick Cheney's suite of offices, near the White House. The fire was traced back to an overheated paper shredder. The fact that the fire broke out on the same day that a federal judge ordered an investigation into the destruction of CIA interrogation tapes was just a coincidence, said an aide.
Home prices dropped around the country last month. Investors pining their hopes on median home prices of $3.7 million by 2020 expressed surprise and disappointment.
Britney's 16 year old sister Jamie Lynn Spears announced that she is pregnant. Defending her decision to keep the child and raise it herself, she said, "Our mother was young when she had us. Parenting is not that hard."
Storms have left residents of the midwest without power for 10 days. Al Gore, touring the region, said "Try going without any power for 10 years, then complain to me."
Two weeks away from the first contest in Iowa, Huckabee and Giuliani are in a tie for the Republican nomination and Clinton and Obama are tied for the Democratic nomination. Pundits and reporters could not be happier. "After a year of campaign coverage, we might finally have a story," said an excited Anderson Cooper.
The wives of David Letterman and Jay Leno are desperately working behind the scenes to end the writer's strike. "He still feels compelled to do stand up every night. He stands in front of the TV and tells me jokes," Leno's wife said, "but as it turns out, he is not that funny."
The Federal Reserve is proposing new regulations for the mortgage industry. "Under the new rules, those that issue subprime loans would have to show that borrowers can realistically afford to pay." Apparently, it never occurred to them that they could simply let the subprime lenders make bad loans but refuse to bail them out when borrowers default.
R World (Ron Davison muses aloud)
$250 billion is the estimated loss due to the sub-prime loan debacle. U.S. taxpayers will pay a huge share of this loss by financing the federal bailouts of the lenders and the mortgagees.
ReplyDeleteWhy did this catastrophe happen? Simple. Despite the obvious signs of impending doom since 2002, the consortium of powerful industry interests (banking, homebuilders, non-bank lenders, and governments that loved higher assessed values)worked together to prevent our elected and appointed officials from slowing the train before it went off the rails.
This is just another example to prove that government does not serve the nation at large. It serves those who buy it with thinly concealed bribes. This Bush administration was their perfect target.