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Stinnett Writes a Great Jesse McDermitt


From Mike D. Landfair on September 27, 2015

Stinnett Writes a Great Jesse McDermitt

Jesse McDermitt is my kind of guy. He is at home on and under the water as he is facing down bad guys. I model one of my book’s characters after Jesse; his morality, his guts, his fighting skills, his way with women. Of course my guy is better looking. I want to…

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Nevada Quakes

Nevada Quakes

Nevada Quakes

Yesterday, the corner of Nevada closest to the border of Oregon and California, had the second largest earthquake in 30 days, a 4.2 magnitude. In the last 30 days there have been 40 quakes over 2.5, 62 quakes of all magnitudes in the last seven days and 20 quakes, including the 4.2, in just the last day. The largest quake was a 4.7 on September 14th. Scientists are puzzled

College Football Upsets Week 4

#13 Oregon 13, #18 Utah 62 with 10:00 in 4th!!!
#20 Georgia Tech 20, Duke 34 Final
#22 BYU 0, Michigan 31 Final
#25 Missouri 13, Kentucky 21

Oregon State 24, Stanford 42 Final
Portland State 31 Western Oregon 0 at the half

Blood Moon This Weekend

I have written about the Blood Moons several times. Sunday night we get the final Blood Moon this weekend of four in the last two years.

Hang on to your hats. According to “Two Christian preachers with huge followings in the US claim the date of the last of four ‘blood moons’ over the past 18 months, due to occur on September 28, and following a papal visit to the US, will signal the second coming of Jesus Christ.

“At the same time, the world as we know it will be destroyed by major earthquakes amid heightened tensions in the Middle East and the possibility of a third world war.

“The two evangelists have been accused of peddling the false warnings in order to cash in on books they have penned about their predictions – one of which was turned into a movie.

“The pair claim Armageddon will occur at the conclusion of the ongoing ‘tetrad’ of blood moons, which began on April 15 last year, followed by another red-coloured lunar eclipse on October 8 last year, and a third on April 4 this year.”

A 100 Billion Dollar Fraud

Bill Bonner today compares the fraud of Volkswagen, a 100 Billion Dollar Fraud, to another fraud. As far as we know, nobody suffered as a result of Volkswagen, yet they will pay mightly. Fannie Mae on the other hand…let Bill Bonner tell it:

Yesterday also brought news of another corporate faux pas…

This time, by one of America’s government-sponsored mortgage giants, Fannie Mae.

The case also involved hiding something. But this time, the result was genuine suffering on behalf of millions of U.S. homeowners.

Fortune magazine reports:

On Monday afternoon, Thomas Lund [one of the highest ranking former officials of Fannie Mae] settled charges brought by the Securities and Exchange Commission back in 2011 that he helped deceive shareholders of Fannie Mae in the run-up to the financial crisis.

The suit claimed that Lund, who was the head of Fannie’s single-family division, helped hide more than $100 billion of subprime exposure from Fannie’s shareholders, allowing it to continue to back more and more risky loans.

Now, here we have a clearer case. Thanks in part to Mr. Lund’s chicanery, the bubble in mortgage finance caught investors unaware. This resulted in losses of at least $8 trillion in the U.S. stock market alone.

Mortgage debt had become a key component of Wall Street collateral. When housing prices fell, many of the big banks were faced with insolvency.

Arguably, in September 2008, this brought the entire financial industry – and the world economy – to the edge of collapse.

Losses in the housing market were colossal and came with great personal suffering. We don’t remember the number. But something like 10 million households found themselves “underwater,” with mortgage debt in excess of the value of their houses.

Millions of people lost their homes when lenders repossessed them.

Remember “jingle mail”?

Underwater homeowners had no choice: They just mailed their house keys back to the mortgage companies. Whole families were living in cheap motels and improvised lodgings.

You’d think Mr. Lund would want to duck. Surely, the SEC – when it ruled this week – would throw the book at him.

But wait. Mr. Lund was in finance, not manufacturing. He was not making cars. He was not making anything!

He was taking cheap money that didn’t belong to him (thanks to the Fed’s EZ money policies) and lending it to people who couldn’t pay it back.
Thomas Lund’s Parting Gift…
So, when Mr. Lund looked up at the judge on Monday… and said, “Judge, what will be my fine?”… the judge didn’t look at Mr. Lund and say, “Boy, you got 99.”

Instead, Fortune continues:

Lund’s penalty for his role: a mere $10,000. What’s more, the penalty won’t even be considered a fine. The SEC agreed to classify the payment officially as a “gift to the U.S. government,” not an actual punishment.

But the worst part is this: Lund won’t even pay the penalty. The agreement allows Fannie to make the payment for him, which it has agreed to do. And don’t forget: The government had to bail out Fannie and still controls it.

Of course, Lund was not a German industrialist. He was a true American crony.

College Football Upsets Week 3

The biggest upset of the day:
#2 Aabama 37, #15 Ole Miss 43

#6 USC 31, Stanford 41

In Oregon:
Oregon 61, Georgia State 28
Oregon State ahead of San Jose State

College Football Upsets Week 2

#18 Arkansas 12, Toledo 16
#20 Boise State 24, BYU 35

Both Oregon and Oregon State lose to the state of Michigan

How about Portland State 34, Idaho State 14!

2015 College Football Upsets Week 1

Update: One big 2015 College Football Upsets Week 1 I missed, “The (Washington State) Cougars christened the season on Saturday with a 24-17 home loss to Portland State, a team that they beat by 38 points one year ago.”

#15 Arizona State 17, Texas A&M 38 Final
#21 Stanford 6, Northwestern 16

And also in the Pac 12 No Upset, but

Washington 13, #23 Boise State 16

Oregon State won over Weber State – Yay! Beavers are undefeated this season.
#7 Oregon 61, Eastern Washington 42 BUT, where is the pass defense. Eastern Washington rolled up 438 through the air. Oregon meanwhile rolled up 485 yards rushing!

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