Midnight Links 11-18(19?)

November 19, 2009

Rep. DeFazio calls for Geithner and Summers to be fired (YouTube) Geithner has done many other things wrong besides paying out 100% to AIG’s counterparties. Slamming banks together to avoid resolving their balance sheets was another big one. As for Summers, I still don’t understand why he’s so revered at the top of Democratic policy circles. His prior support of the CFMA and Gramm, Leach, Bliley — two of the biggest regulatory blunders of our time — should be enough to disqualify him from his current post.

FHA-backed lending is a train wreck says Toll (Gittelsohn, Bloomberg) Maybe a reader can correct me, but I’m guessing Toll Brothers, because it’s a higher-end builder, doesn’t rely much on FHA-backed lending to move its inventory. Still, it’s interesting that a homebuilder would criticize the government for providing too loose credit. Homebuilders wouldn’t have much of a business without it.

Jobless benefits to end for 1 million in January (Eckholm, NYT)

Audit the Fed effort under threat in House (Grim, HuffPo)

Cash for caulkers (Leonhardt, NYT)

Costco no longer carrying Coke products (AP)

California faces new $21 billion budget hole (Goldmacher, LA Times) CA lawmakers have more tough decisions to make…

On the shoreline (Boston Globe) The latest from the Globe’s Big Picture blog.

Students unhappy with big tuition hike at UCLA. Education is expensive and CA’s public university students have benefited from state subsidies for years. With CA’s budget in tatters, the free ride is over


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You are right, we don’t know what time of day it is. From Dusk till (sic) Dawn traders.

Posted by Casper | Report as abusive

Look for a drop in the obesity and diabetes rates of CostCo shoppers. Thanks, Coke, for pricing yourself out of my way.

Posted by no-friends | Report as abusive

“Jobless benefits to end for 1 million in January (Eckholm, NYT)”
At some point, the BLS data will show unempolyment going down (because it tracks unemployment claims) but everyone will know that more and more people don’t have jobs. Trust in government will go down some more

Posted by fresno dan | Report as abusive

Rolfe — Toll Brothers (and ALL high end homebuilders) do rely on FHA loans, albeit indirectly. The link between access to financing for lower-mid end homes feeds a material portion of those who sell their house to move up to higher end Toll housing (mcmansions). Best, WM

Posted by Wallace Manzes | Report as abusive