A Reverse Mortgage Smear Piece on Mnuchin

found online by Raymond

 
From libertarian Michael A. LaFerrara:

The bank that originated the loan went defunct and was taken over by the government in 2008. The remaining assets were eventually bought by a private investment group, which completed the foreclosure on behalf of Fannie Mae, the government sponsored enterprise, after paying off the back taxes. Afterwards, Fannie Mae bought the house for $100 at a sheriff’s sale, evicted the woman, and resold the house. The entire saga spanned 2007, when the owner fell behind on payments, to 2016, when a judge approved the eviction.

The article reads like a typical human interest story—until you get to the real purpose of the article near the end. It turns out that Steven Mnuchin, the current Secretary of the Treasury, was part of the investor group that bought the original banks remaining assets, which included Turano’s Fannie Mae-owned mortgage. After Mnuchin left, the bank was investigated by HUD for how it carried out foreclosures under rules that HUD itself set. (The article doesn’t report that second part.) The investigation was cited through a report by Bloomberg News.

Whatever the investigation yields, what that has to do with this woman’s plight is lost on me.

– More –
 

Trump as Prelude, and the Challenge Ahead

found online by Raymond

 
From Infidel753:

Charles Blow recently put into words what millions who have been following the news must be thinking. Since we’ve known for months that the Russian regime interfered in our election, including by spreading fake news designed to undermine Hillary, Trump should not be regarded as legitimately President, at least until a thorough investigation is completed. Blow calls for a “pause” in Trump’s administration — a cessation, at least until the investigations are finished, of his authority to carry out any substantive actions.

The problem, of course, is that no one has the authority to impose and enforce such a “pause”, nor does Blow suggest how it could be done, other than that “the American people must demand” it.

– More –
 

Kennedy – Trump Review

from Raymond

 
Burr is severely under the weather. We expect him back next week.

We do have an interesting on-line discussion initiated by Burr’s long-time conservative friend T. Paine in response to a piece contrasting the leadership of Presidents John F. Kennedy and Donald Trump.

From T. Paine:

Kudos to you on a very good article, Mr. Deming.

I concur with all of your assertions and findings.

I do note, with some sense of irony, how John Fitzgerald Kennedy as a comparatively economic and foreign policy conservative would never garner the support, let alone the nomination of this party for president in present day America. Such is the “progress” of the Democrat Party since his untimely death.

From Burr Deming:

Thank you, T. Paine. Valued praise from an excellent conservative advocate.

I almost hesitate at asking the obvious:

In what respect do you believe President Kennedy would differ from today’s mainstream Democrats.

Would he oppose affordable healthcare?
Voting rights?
Nuclear arms control?

I’ll go hide now, in trembling anticipation of an acerbic response that will make me wish I hadn’t asked.

From T. Paine:

I thought I had provided some insight as to why I thought that he was different from today’s typical Democrats when I stated that he was a “comparatively economic and foreign policy conservative.” Perhaps I needed more specificity.

JFK was not a reflexive Keynesian always seeing the need to prime the government pump with increased spending. He understood that targeted and appropriate tax cuts would cause “a rising tide that lifts all boats”. Today he would be demonized for his “tax cuts for the rich” by our brothers and sisters on the Left.

Further, he (perhaps more than any other president) understood the dangers of communist expansion. He was not a foreign policy appeaser and dove accordingly. This too would garner the scorn from many good folks in the Democrat party.

Also, he understood the importance of service and work rather than supporting the low expectations of dubiously necessary entitlements. “My fellow Americans, ask not what your country can do for you, ask what you can do for your country.”

That seems to be in direct contrast with the entitlement mentality that often permeates most of the mainstream Democrat thinking today.

Those are just a few examples. I wait with breathless anticipation for you to respond and tell me why I am unequivocally wrong, my friend.

From Burr Deming:

Thank you, T. Paine.

Actually, even Maynard Keynes was not a reflexive Keynesian. He, like Kennedy, like today’s Democratic policy-makers, operated on the basis of available economic evidence. Kennedy is, in fact, considered by many economists to be the first Keynesian President.

As to Keynesian economics itself, I do not think it means what you think it means. It has to do with money supply as economic stimulus, whether from tax cuts or spending. Deficits are a good thing during a recession. Surpluses are a good thing during rapid economic expansion. Kennedy bought into that on the basis of evidence.

Evidence since then indicates that the Republican version of another Keynesian idea, supply-side economics, does not work as well. More than Kennedy and Keynes, the GOP strain of Keynes seeks to target the top 1% for the largest cuts on the theory that those are job producers.

History now shows that targeting low and middle income people for tax cuts produces greater economic stimulus. That is why those groups now pay a lower tax rate than they did when President Obama inherited the Bush recession. In fact many Republicans want to target lower income groups with higher taxes.

As to the use of the military, I don’t think President Kennedy would have objected to the Obama formulation. President Obama campaigned explicitly on opposition only to dumb wars, not to all wars. His foreign policy was consistent with that.

Kennedy’s economic proposals included Medicare, opposed by Republican conservatives. His plans included more help to the struggling underclass. As he mentioned to one economist: “First we’ll have your tax cut, then we’ll have my expenditures program.” I suspect he would have wanted to expand on Obamacare.

He famously offered this moral proposal for public policy: “If a free society cannot help the many who are poor, it cannot save the few who are rich.”

Conservatives have forever embraced liberals after they are gone. Conservatives angrily opposed liberals Abraham Lincoln, Martin Luther King, and John F. Kennedy, for example. Some consider their later embrace as a sign of social progress because it signals conservative acceptance of earlier liberal principles.

I think of it as somewhat ghoulish. Conservatives cast upon these liberal heroes their own historical inaccuracies, then embrace them on that basis. They do this only after they, and the threats they pose to conservative orthodoxy, are gone.

US News and World Report has an interesting analysis of how that process helps conservatives hold the memory of President Kennedy. You may also be interested in the Kennedy Center’s take on President Obama and the Kennedy legacy.

I hope that helps, T. Paine.

Additional snarky wisdom from Dave Dubya did make Aunt Tildy a little nervous:

It’s inspiring how Dear Leader takes full responsibility and never passes the buck, amirite?

Let JFK speak for himself:

“If by a ‘Liberal’ they mean someone who looks ahead and not behind, someone who welcomes new ideas without rigid reactions, someone who cares about the welfare of the people-their health, their housing, their schools, their jobs, their civil rights and their civil liberties-someone who believes we can break through the stalemate and suspicions that grip us in our policies abroad, if that is what they mean by a ‘Liberal’, then I’m proud to say I’m a ‘Liberal.’”

Now TP can translate this for us, because I’m pretty sure he understands more about what liberals think than we do. 😉

There is No Such Thing as a “Bible-Believing” Christian

found online by Raymond

 
From John Pavlovitz:

We need to be honest here, friends: There is no such thing as a “Bible-Believing” Christian.

There are Bible-reading Christians, Bible-studying Christians, Bible-preaching Christians, and even Bible-loving Christians—but no one believes it in the way they say they believe it when they say that they are “Bible-believing”.

– More –
 

GOP Health-Care Not Designed to Actually Work

found online by Raymond

 
From Jonathan Bernstein:

The repeal and replace bill is, finally, out.

The reviews (see this morning’s Early Returns for links) from both liberals and conservatives were … well, are you familiar with the critical reaction to “The Phantom Menace”? “Howard the Duck”? Let’s just say that the enthusiasm was severely constrained.

After all, the bill will almost certainly mean fewer people are covered, with poor and lower-middle income folks losing out. So liberals aren’t going to like it. Much of the structure of the Affordable Care Act remains, so small-government conservatives aren’t going to like it.

In other words, it’s not exactly designed to pass and become a law that actually works. Speaker Paul Ryan might get the necessary 218 Republicans to close their eyes, hold hands, and jump over a cliff in order to get the bill to the Senate. It’s still unlikely that the bill will pass in the Senate, where Republicans have a much slimmer majority.

– More –
 

Open Investing in Start-Ups

found online by Raymond

 
From The Moderate Voice:

Small entrepreneurial businesses are the heart of an innovative economy. They have been the backbone of the creative US dominance for our entire history. Brilliant, creative, hard-working minds dream and then build businesses. They start in the proverbial “garage,” grow into a small incubator space, then into a small building and ultimately into large companies. See Microsoft, Facebook and Express Scripts.

Other entrepreneurs design a game-changing technology that one of the giants acquires. Most fail, in one form or another. Some have great ideas, game-changing ideas, but can’t secure funding to move out of their garage.

One of the reasons for this is the current state of securities regulations. The JOBS Act helped and was a good start. Congress and the President should consider whether any federal regulations should apply to companies raising less than five million dollars. In particular, start-ups who are just trying to get their idea off the ground.

Eliminate all federal laws, regulations and rules relating to raises of capital under five million dollars.

– More –