TU Cent Thoughts, 08/05/2007

[greybeta]

Adminisration
Hello, new friends! Goodbye, former friends.

LJ bans two users
Freedom of speech is not unlimited freedom of speech. People forget they've clicked "I Agree" on a ToS full of clauses that allows LJ to legally ban those users.

Republicans debate
Apparently, national security and abortion are the defining topics of the Republican party. Besides lambasting the Democrats, of course.

One final today, one final tomorrow
Then I'm done with summer classes! Wahoo!

Verse of the Day
"A wise man will hear and increase learning, and a man of understanding will attain wise counsel."
~Proverbs 1:5

Convos of the Day
D2: People don't believe me when I say I'm kind of lucky.
M: They've never played poker with you. They've never seen you win ten coin flips in a row. Without even looking at your cards.

Quote of the Day
"Life is like a game of cards. The hand that is dealt you is determinism; the way you play it is free will."
~Jawaharlal Nehru

Link of the Day
American Home Mortage files for bankruptcy
The housing bubble has burst, and this is yet more proof of it.

Sports Report
Bonds 755. Arod 500. Glavine 300. And yet, fantasy football is more important to more Americans than anything else sports-related!

Entertainment
I recently watched Ratatouille, Transformers, and The Simpsons Movie. I happened to like them all, so I recommend watching them sometime. The only one I would recommend watching seeing in the theaters is Transformers, the other two are high quality rentals.

Heat wave
It's hot.

Question
Would you rather be thought of as a nice or kind person?

Comments

[kmg-365.livejournal.com]

An interesting question, and I'm surprised that the media hasn't covered that angle yet. I'm sure most consumers of the news are more interested in hearing about how this affects them than what percentage of their overall loan portfolio contained sub-prime loans.

The homeowners' loans will most likely be purchased by another financial institution (possibly at a discount), and the homeowner would send their check to a different bank.

Their loans would not evaporate. I'm not sure if the terms of their loans could change, since when an institution purchases a loan, they are purchasing the loan as issued under the terms of the contract.

[greybeta.livejournal.com]

The media probably hasn't covered it yet because it would be considered speculation to report on something that the court hasn't ruled on yet. They've only filed for Chapter 11 Bankruptcy, so they're probably waiting to see what the ruling will be.

[fub.livejournal.com]

because it would be considered speculation
And that has stopped the media since when...?

The article says something about a few other money lenders going under -- surely what has happened to the carcass can be reported on, since it is a similar case?

[greybeta.livejournal.com]

The article says something about a few other money lenders going under -- surely what has happened to the carcass can be reported on, since it is a similar case?
It says something about other money lenders going down, but they don't mention them by name. They talk about New Century Financial only because New Century Financial has already gone under. Technically, proper journalism requires you to wait until the carcass is proclaimed dead before you can report on it. Or at least that's what I learned from my time as an editor for my college newspaper.

[fub.livejournal.com]

The homeowners' loans will most likely be purchased by another financial institution (possibly at a discount), and the homeowner would send their check to a different bank.
Very plausible.