Barney Frank wants to replace Fannie and Freddie

This off the Fox News crawl. I'm agin it. Frannie Mae and Freddie Mac are largely responsible for causing Great Depression 2.0. They should be disbanded, and their management prosecuted.
Barney claims the new organization would subsidize the housing market. I say we should stop subsidies to housing. Housing doesn't need subsidy, other wise known as giving taxpayer money to builders, realtors, home owners, and banks.
Home mortgages are attractive investments just as they are. The loan is secured by real property which the lender can seize if the borrow doesn't make his payments. The collateral is fixed and immobile, the lender cannot drive it out of state. The borrower is highly motivated to keep up the payments, if only to avoid harsh criticism by his spouse when the the couple is evicted.
If the lender makes a realistic appraisal of the property value, and insists that the borrower put up 10 or 20 percent of the value in cash, and the borrower isn't spending more than 25% of his income on payments, the loan is highly likely to get repaid. They used to say "safe as houses" to describe a secure investment. Banks can do very well loaning on mortgages at 6 percent and paying depositors 3 percent, keeping the spread between loan rates and depositors interest rates.
Home mortgages used to work that way. First house I ever bought, back in the '70s the bank loan officer interviewed me and the wife, and then went to the property and appraised it himself. No mortgage broker and the bank loaned its own money, not Fannie's, and held the note til we sold the house.

Environmental Impact Statements on new wells

In an effort to slow down oil drilling, the Obama administration will require a full environmental impact statement to be filed for each new well drilled. Work cannot start until the paperwork is finished. Of course we all know what the environmental impact of an oil well blowout is, it's horrendous. Ixtoc I, and BP have made that abundantly clear. We don't need paperwork to inform us of that. But if we make the paperwork burden heavy enough maybe those pesky oil companies will stop drilling. We can all freeze to death in the dark rather than risk an oil spill.

How to loose WWII

The Germans lost by frittering away their industrial capacity building too many different types of weapons. Both Heinz Guderian and Albert Speer complained about this in their post war memoirs. I have a lovely coffee table book of the German air force listing every aircraft they developed. During WWII the germans developed 143 different warplanes, of which a whopping big 58 went into production. The other 85 designs went no farther than prototypes.
In contrast, the highly organized US Army Air Force numbered all it's designs. Over all of WWII, USAAF sponsored a mere 67 designs, of which only 14 went into production. Estimating that the less organized US Navy, which did not number it's designs, added perhaps another 50% to both numbers, we have maybe 100 American designs, with a mere 21 going into production. In short, the Americans out produced the Germans by concentrating on building a few, but superior, types of aircraft.
Plain old capitalism was more effective at marshaling the nation's industrial power than National Socialism was.

NPR discovers yet another problem.

Listening to NPR on the clock radio this morning. They did a long piece on the need for new regulations of chemicals. They never did get around to discussing the problem[s] with chemicals, but they had a solution. Companies would be required to submit massive paperwork on every chemical made or used. Poorly educated bureaucrats would be given authority to ban just about anything they pleased, when ever they pleased.
Sounds like another bit of economic stimulus :-)

Swett Equity

Watching Katrina Swett, Democratic candidate for US house on channel 9. She just said "Give the middle class a $150 tax rebate and they will go out and spend it".
That happens not to be the case. Middle class citizens are frightened of losing their jobs. Give 'em $150 and they will save it or pay down bills with it. They ain't gonna buy anything except groceries until they feel secure in their jobs.

Gene Makes Superbugs Resistant to Drugs

So reads the headline on a Wall St Journal Story. It quotes "Lancet Infectious Diseases" who says that a new gene dubbed NDM-1 gives bacteria the ability to produce a chemical that protects them against most antibiotics. The new strain of bacteria was found in 180 cases in India and Pakistan, and in a few British citizens who had had surgery in India. Three cases have appeared in the US, all from people who had medical treatment in India.
So another superbug joins Methicillin Resistant Staphlococcus Aureus (MRSA). Medical authorities blame excessive use of antibiotics for the rise of antibiotic resistant germs. So long as we feed antibiotics to farm animals to make them grow faster, we are going to have resistant bacteria cropping up.
Since antibiotics cure patients, the drug companies are not interested in creating new ones. After a few doses, the patient recovers. Drug companies like expensive drugs that don't actually cure anything so the patient keeps buying more of them.

To Big to Fail oughta meet Anti Trust

Great Depression 2.0, still ongoing, was triggered by foolish actions by a handful of big Wall Street operations. When a brain dead executive has control of massive amounts of cash, he can do a lot more damage than a similar executive at a smaller firm. When big outfits like Fannie Mae or AIG go belly up, Uncle Sam bails them out lest their failure throw the economy into a tail spin. This time Uncle spent carloads of cash bailing them out and the economy still tanked. Effective use of taxpayer funds that.
And, when us customers are shopping, we get a better deal if we have a lot competing companies to buy from. If a super biggie is the only game in town, we are going to get robbed.
So, for all these reasons, super big companies are a bad idea. We used to have a Sherman Anti Trust Act, enforced by the US justice department. Back in the good old days they broke up Standard Oil and the telephone company, and tried to break up IBM. Used to be, the Anti Trust division of Justice could put the kibosh on mergers if they deemed the merged company would be too big.
Far as I know, Sherman Anti Trust Act is still on the books, but the Justice department hasn't enforced it for 20 years or more. Which is why we have AIG and Microsoft out crashing the economy and abusing customers.
Let's bring back the Anti Trust lawyers and sic 'em on any company that controls more than 50% of any market.