Elections have consequences…. Except perhaps when we vote on computers . (H/T Lambert)
Glenn Greenwald is attempting to unravel the mystery of last week’s bomb plot. It’s making my head spin but, Glenn’s sticking with it. He’s got three updates to his post now. And I’m sure there’s more to come:
Wait: I read in the NYT on Sunday that “evidence was mounting that the top leadership of Al Qaeda in the Arabian Peninsula, including the radical American-born cleric Anwar al-Awlaki, was behind the attempted attacks.” Today, however, in that very same paper, I learn that “American and Yemeni officials still have little hard evidence about who was involved in the thwarted attack” and “evidence is elusive.” How can evidence of the culprits simultaneously be “mounting” and “elusive”?
The reality, as today’s version of the NYT makes clear, is that the U.S. has no idea who is responsible for sending these bombs. So in the dark are they that Homeland Security actually blamed two Yemeni schools that don’t even seem to exist, with the only one remotely similar to it being one sponsored by the State Department.
From Naked Capitolism I’m reading about Title Insurance … I’ve been wondering about the poor people who’ve bought houses that were foreclosed under questionable circumstanes:
We’ve noted that title insurers have been refusing to eat the risk in foreclosure sales when they can’t verify the chain of title from local records. Of course, the idea that title insurance was ever really intended to be insurance in the first place is questionable: the title insurers only step up when they can verify that there appears to be absolutely no risk. A one-time client, a major NYC developer and Forbes 400 member, established a title insurer for his own residential deals because he saw the premium as free money.
Some have taken the route of writing qualified policies, but buyers appear to be waking up to that. So the industry response increasingly appears to be to have the bank selling the real estate indemnify the title insurer. Since the biggest servicers also happen to be the biggest banks in the US, this effectively means that the risk of clouded title in foreclosures is being absorbed by TBTF banks, and hence by taxpayers.
I could talk about polls and “change” but, why? The elections will be over soon enough. And we’ll all be here watching the returns when they do. Right?
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