The World according to Europe

Soon to be Ex-Senator Craig made it into almost all newspapers, tabloids and serious. He’s dubbed the “Men’s Room Casanova”.

The crisis on the housing/financial markets still goes on making headlines. The President’s and Mr Bernanke’s announcements of help plans are being discussed all over Europe. There is no reason to relax, it seems. The Swiss “Tagesanzeiger” claims, the plans are a drop on a hot stone. They quote the Credit Suisse bank as saying: “First of all hedge-funds will reduce their credit-financed investments, The volume is immense: Of the $ 2.6 trillion invested in hedge-funds a total of $ 1.6 trillion is supposedly financed by credits. If funds managers reduced that volume only by standard volumes $ 360 billion would be going out of the shares markets.”(translation by me)

The repercussions of the financial markets crisis are badly felt elsewhere, too. Barclay’s bank has a hard time explaining away their seemingly desperate need for cheap money. The Guardian has more:

http://business.guardian.co.uk/story/0,,2160297,00.html

On top of all that: the focus is again on Iraq:

Peter Richards Saturday September 1, 2007 The Guardian

The former head of the British Army has attacked US postwar policy, calling it “intellectually bankrupt”.

http://www.guardian.co.uk/Iraq/Story/0,,2160384,00.html

And the London Times welcomes you to the US embassy in Baghdad: http://www.timesonline.co.uk/tol/news/world/iraq/article2364255.ece

Elsewhere in Europe:

The third anniversary of the Beslan massacre is today. Remember? Alleged Chechen rebels had taken the pupils of a school as hostages. In the botched police operation that followed 300 people died, 186 of them children. Until today the real background for the event remains as murky as many things in Putin’s Russia.

So, Good morning friends to a new day! May it bring better news than the last!

38 thoughts on “The World according to Europe

  1. CNN Headlines this morning is running a story that Craig is going to resign.

    Also Sen John Warner (R) is going to retire and not run again.

  2. So this is like a thinkfast it seems. That’s cool. I like the new picture. Lots of stuff to look at with shiny stuff and colors.

    Because I’m about to buy a home, I’m kinda pushin’ for more problems with the market. As long as know one loses and eye.

  3. Doro,

    “Men’s Room Casanova”

    Oh my god, that is so funny. How horribly embarrassing for him!

    I feel sorry that anyone feels like they must put themselves in that situation, but I can’t find it in myself to feel sorry for Craig.

  4. Is this true? Can this be possible?

    Finally a place where reasonable people can talk, away from the room temperature IQ trolls that pollute Think Progress?

    And just to make a comment on topic, any claims on the soundness of the American economy by the White House are nothing more than a attempts at hiding the hideous truth: Their handling of the economy has been poor -to say the least.

    Also, I wonder how Bush’s announcement that he is ready to step in and help the housing sector squares with the rightwingers’ “free markets” fantasy, and their protests against “government hand-outs”.

    Oh, I forgot: it’s ok if you are a Republican. My bad.

  5. Hopefully my last word on Senator Craig…

    Listen carefully to his conversation on tape with the cop, and when asked why his hand was under the divider, he replies that he doesn’t remember, but he was going to pick up a piece of “YOUR” toilet paper.
    Sure.

    When was the last time anyone in the history of public restrooms reached under the divider to pick up a piece of toilet paper in THE NEXT STALL>???

    Oh, come on now…

  6. I think I am going to go out and buy a house I know I can’t afford so I can have the government bail me out too!

    We all want them out of our bedrooms, but we want their help in paying for them.

    Just sayin’

  7. Hi bobbo!
    I distinctly heard the chymp say that “speculators” won’t be helped.
    Now how the hell is he going to distinguish dufus I(plural dufi?) who just aren’t smart enough to make decisions regarding finances from the intelligent but risk aware speculators who are going to get screwed?

  8. Robert,

    What government would that be? The mortgage company would happily help you get that house, and then re-sell it after the inevitable foreclosure.

    Government needs to regulate the mortgage industry, not bail people out.

  9. RUCerious

    Now how the hell is he going to distinguish dufus I(plural dufi?) who just aren’t smart enough to make decisions regarding finances from the intelligent but risk aware speculators who are going to get screwed?

    He can’t and shouldn’t. Find away to pay for it, or get ready to move. If someone has not educated themselves enough regarding finances, then they shouldn’t be buying a house.

    Zooey

    What government would that be? The mortgage company would happily help you get that house, and then re-sell it after the inevitable foreclosure.

    I was thinking of using Countrywide for my mortage. Don’t they come highly recomended by Jone Edwards.

    Government needs to regulate the mortgage industry, not bail people out.

    I disagree with the preditory lending practice, but I also believe in “caveat emptor” and only so much blame can be placed on the lender.

  10. Such a big heart, Robert.

    Mortgage companies use filthy lures and fancy language to get people to believe they can actually afford something they cannot.

    But let’s go ahead and blame the poor schmuck who just wants a little piece of the American Dream, and thinks he’s found a way to get it — the “nice” guy at Countrywide who’s working so hard to “help him out.”

    If you’re not “educated” you’re fair game. Is that it?

  11. Sorry, I have to agree with hacker bob on this one.

    My girlfriend and I saved up a big chunk of money that we wanted to put down on a house. We had 20% as is recommended, but after doing all of the math and figuring in taxes and the house payment, it was quite clear that we could still not afford the monthly costs, so we reinvested.

    Why should I have my taxes used to bail out people that weren’t smart enough to think for themselves. The government won’t help me buy a house, but they will use my money to bail somebody else out with my taxes.

    Nope. I don’t care how preditory the sub-prime lenders are.

    The people that run the Nigerian e-mail scam are preditory. Am I supposed to bail out every nincomepoop that gives aaway their life savings?

    No. Everybody knew that there was a overinflated housing bubble. Those that didn’t weren’t paying attention or were believing Bush’s bullshit. Everyone in the latter category I could care less abotu and the peole in the first category are too stupid to own a house.

  12. Zooey, I heard an ad for Countrywide just this morning on the way to work, zero down, low low rates, hurry up before rates increase, how can you afford not to…All the BS that got them where they are now, ya think they’d be backing off that shit at this point?
    Not.

  13. Mortgage companies use filthy lures and fancy language to get people to believe they can actually afford something they cannot.

    OK, there is this one little detail you are missing Zooey. The contract.

    If your contract states that you have X% interest (fixed) for Y # of years, and after that your interest rate raises/lowers to whatever the market rate is at the time (variable), and you do not understand the language, who’s at fault? The lender? No, you are because you did not do the research for yourself or educate yourself on the language or process of home buying.

    Anybody that thinks that someone that is in the business of lending money is a “nice guy” is a moron, and you know that. Just like anyone that thinks a military recruiter is a “nice,honest, young man.” Not all, (not many) are. It is up to YOU, the buyer, to protect yourself. Check the facts, educate yourself, THEN persue buying. Not the other way around.

    In short: Take PERSONAL responsability!

  14. Because I like your bald head?

    That wasn’t it.

    COMPLETELY OFF TOPIC OF ANY SORT.

    Best wishes for an American LEGEND and ORIGINAL

    Bo Diddley had a heart attack on Aug 28. I wish him well on his recovery.

  15. Yea, Zoo. There are dirtbag lenders (Countrywide for instance)

    But is it the lenders fault that you are not educated in the process enough to theor the bull shiite flag? No, they are counting on you being stupid. I know, shame on them. But it still does not remove you from your responsibility to educate yourself. There are legal services that will offer low cost contract advice. There is the internet for research. There is the library. There are countless ways to check, recheck, and check again if you are getting screwed.

    Before you say “But the poor can afford to do that.” Then you would have to agree that the poor can not afford to buy the house and should not be trying to. Again, their fault for taking on more than they can afford.

  16. I’m not saying people should not educate themselves or take responsibility for their actions, Robert.

    I’m saying we don’t live in a perfect world, people don’t always know they shouldn’t trust lenders. The mortgage companies who are predatory, are going out and finding these specific people — people who may never have even dreamed they could own a home (and they were right) — and then drag them into the pit of hell.

    You are still blaming the victim.

    Let’s take this to a ridiculous level, shall we?

    Blacks under Jim Crow laws discriminated against in horrifying ways. Jim Crow laws were un-Constitutional, but hey, if the blacks are too stupid to know that, it’s not America’s fault.

  17. I’m saying we don’t live in a perfect world, people don’t always know they shouldn’t trust lenders. The mortgage companies who are predatory, are going out and finding these specific people — people who may never have even dreamed they could own a home (and they were right) — and then drag them into the pit of hell.

    And I would reiterate that these are the same dumb people that believe Bush when he says the economy is great.

    To them I say “You should have listened to us dirty fucking hippys instead of making apologies for Bush.”

  18. Zooey,

    You make it sound like the preditory companies go knock people over the head, drag them into the office, and force them at gunpoint to buy these home or accept the terms of the contract. If that were the case, then I would see the problem differently.

    But using your logic, I am a Sexual Preditor when it comes to every woman I have slept with. After all, I pointed out all the benifits of sleeping with me and enticed them to have sex with me without having the certainty of the future.

    And one thing you are missing on your Jim Crow analogy:
    Blacks caught on and started freeing themselves. They inheriantly know it was wrong and started doing something about it.

  19. Hi Gregor, good to have you here. The one man of whose nickname I am immensely jealous. I wish I had thought of it.

    Ever more people that wrote comments which I enjoyed so much are showing up and I am gleeful like a little child.
    I even thought of going back to my english grammar book and make sure my posts don’t have commas where they don’t belong (I do that a lot) and apostrophies at all the wrong endings. I have the notion that this is one distinguished readership here.

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