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OT: Finances and dogs

From an investment newsletter:

Even though the government appears unable to run its own two mortgage companies, OBAMA! wants to create an entirely new regulatory agency to police the financial decisions you make. I'm not making this up. The new agency ? the Financial Protection Agency ? will be led by a so-called financial regulatory "czar," who will determine if the financial products you're offered (credit cards, mortgages, home-equity loans) are "fair."

According to the legislation that's now proposed (Financial Protection Agency Act of 2009), the government will design a set of "standard" financial products that financial-products companies will be forced to offer. And the agency will have the power to forbid financial firms from making any competing offers if the government deems these products to be harmful.

Not only does OBAMA! intend to control what kinds of financial products you are allowed to use, he's installing a leading intellectual mother hen to be in charge of the whole thing ? Cass Sunstein. Sunstein is a

55-year-old lawyer who has never worked ? not one day in his life ? outside the government or the academy. He is currently the Felix Frankfurter professor of law at Harvard Law School. His new book is literally called "Nudge." (The full title is Nudge: Improving Decisions About Health, Wealth, and Happiness.) This guy clearly believes he knows what's best for you. He wrote a book to prove it. And damn it, you're going to do what he says.

If that doesn't scare the crap out of you, consider his previous book,

2004's The Second Bill of Rights: FDR's Unfinished Revolution and Why We Need It More than Ever. In this tome, Sunstein explains why every American ought to have a legal right to a home, health care, and protection against "monopolies." He also believes the Internet weakens democracy (see his arguments in yet another book, Republic.com). The government, Sunstein seems to believe, can provide you with everything you need... as long as you'll stop thinking for yourself and turn your Internet browser off.

Someone reading this Digest is undoubtedly saying to his wife right now, "Porter is overdoing it again because some Harvard lawyer wants to trample on his precious civil rights." And you might be right. But try to explain this one to me: In 2004, Sunstein wrote another book, called Animal Rights. In the book, Sunstein argues animals ought to have standing in Federal courts. He wants to create an animal plaintiff bar. (Again... I'm not making this up.)

Not walking your dog enough? Tell the pooch to call Sunstein & Sunstein, where you don't pay until your owner does.

Reply to
Robert Baer
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Hey Bob,

Do you do any electronics? Really? Any?

Tim

-- Deep Friar: a very philosophical monk. Website:

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Reply to
Tim Williams

Robert Baer a écrit :

I thought I've read from you, once, that you said you've taken your lesson and stopped posting craps.

Or was I mistaken?

--
Thanks,
Fred.
Reply to
Fred Bartoli

Well I don't need this because I know how to read, and I read the FINE PRINT. I also know how to add. And I know the amount charged for interest is more important than the monthly payment (See "I know how to add".).

However, there are quite a few people I know who can't add, don't read the fine print, and only care about how much the payment is. If I ask them how many years the loan is for, they say they don't know. If I ask how much the interest rate is, they say they don't know!

One of these people is a high school graduate and he can't look up a phone number in a phone book! I am serious! He asks for help.

Well someone signed that guy up for a mortgage he could not afford. He could not keep up with the payments. The house was foreclosed on. Also they put in the mortgage contract a $5,000.00 final balloon payment. Being as he could never manage his money, he would never have been able to handle that. I live across the street and my interest and payments are HALF of what he was suckered into paying! For pretty much the same value homes.

So either we educate these people, which might create a problem at election time as people would no longer be sheep doing as they are told, or protect them from themselves. And perhaps we need to protect the banks from themselves as well. They make these loans and on their books show a total collection of $450,000.00 over 30 years for a $60,000.00 house loan, but no one seems to realize these people are not going to be able to afford the payments for very long when reality sets in.

Reply to
Bill
e

When flipping through TV channels I heard "Quick, what's the phone number for 911?!". I think, I hope, that it was a comedy show ;)

-Dave Pollum

Reply to
Dave Pollum

One of Homer Simpson's lines.

--
Paul Hovnanian     mailto:Paul@Hovnanian.com
------------------------------------------------------------------
If Bill gates had a dime for every windows machine that crashed...
Wait a minute, he does!
Reply to
Paul Hovnanian P.E.

I make and sell (programmable) high voltage shunt regulators (guaranteed to 200C), done work on HV supplies, vegetable florescence, and am working on a controller now.

Reply to
Robert Baer

Ahh...you do not want to know what our beloved government is doing?

Reply to
Robert Baer

Interesting. Do you post about any of it?

I'm trying to decide if you belong in my killfile. Would you recommend it?

Tim

--
Deep Friar: a very philosophical monk.
Website: http://webpages.charter.net/dawill/tmoranwms
Reply to
Tim Williams

The shunt regulators can be found on our site oil4lessllc.com and

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. Decision is up to you.

Reply to
Robert Baer

Well, you kind of sound like you belong in mine.

Good Luck! Rich

Reply to
Rich Grise

Why are there so few 911 calls in Washington, DC?

The bureaucrats can't find the eleven on their phone.

Cheers! Rich

Reply to
Richard the Dreaded Libertaria

They'll just issue everybody one of these:

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(the emperor's new clothes.)

Cheers! Rich

Reply to
Richard the Dreaded Libertaria

I presume you noticed that i posted the Mosley patent; the basis of Titan's shunt regulator (at the time our competitor), and then proceeded to post two "public patents" that were significant improvements - thus handing then on a platter ways to have a better and less expensive to build product. Their way was to take the leads of the discrete parts, hand twist them together and solder. Very labor intensive and thus expensive to make. They never took the hint. They just reduced their sales price from $400 each to $200 each and we promptly followed suit. I think that the reason they quit making and selling them was: (1) very little profit, (2) units did not work well at high temperature, (3) a number literally fell apart at high temperature, (4) very noisy.

Reply to
Robert Baer

Better than the eleven joke..

Reply to
Robert Baer

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