Friday, January 27, 2012

'Toontime: the Sorry State of the Union

[credit: Nate Beeler, Washington Examiner]
And your option is....
[credit: Daryl Cagle, The Cagle Post]
But thanks to mo' money ($5million) from casino owner Sheldon Adelson, Newt is turning the Florida primary into a deadheat. Newt is shooting at Romney with both barrels, blasting Romney for investing in Goldman Sachs' Strategic Income Fund, 24% of which is in mortgage backed securities including adjustable rate mortgages from defunct lenders like Bear Stearns, Countrywide, Indy Mac and Washington Mutual. All of these were leading players in the sub-prime market which collapsed in the 2008 panic. Countrywide ranked first and Washington Mutual ranked fifth. About 5,000 foreclosure cases were filed in 2010 for Miami-Dade County alone (about 13% of Florida's population) on loans originated by these lenders. Nothing to get hung about; its capitalism...or maybe the curse of Cain!