Random Links XXXX

Junior Liens & Obama Housing Bailout:

http://online.wsj.com/article/SB123871391215884547.html

http://www.housingwire.com/2009/04/03/viewpoint-discovering-second-liens/

I’m surprised this wasn’t flagged as a possible problem from the get-go.  Someone forgot to read Calculated Risk:

http://www.calculatedriskblog.com/2008/02/bair-on-principal-reduction.html

http://www.calculatedriskblog.com/2008/01/economics-of-second-liens.html

http://www.calculatedriskblog.com/2007/12/mud-luscious-balloons-for-ubernerds.html

Bankruptcy for Financials: Not sure of the feasibility, but worth considering….

Extraterritorial Constitution: Boumediene’s slippery slope.  Shucks & other comments.

Quants: Confessions of a programmer who wrote software to aid securitization.

Robotic Nation, Babysitter Edition: Another means whereby technology may render illegal immigrants obsolete.

Alcubierre Warp Drive & Quantum Mechanics: Alas.

China’s “Legless” Stimulus: Why China’s massive stimulus may be overrated.

Unemployment & Trading Down: And people wonder why I only spend a quarter of my income….

Depression 2009: How a modern depression might look.

Iowa Gay Marriage & Slippery Slopes:

…it’s a mistake to just factually dismiss the claims that slippage is possible. When we’re dealing with a legal system that’s built on analogy and precedent (both binding precedent and persuasive precedent), the possibility of a slippery slope has to be taken seriously.

Perhaps such slippage would be good, or even if it isn’t good, the same-sex marriage decision is so good that it should be embraced regardless of the risk of slippage. But I don’t think it’s credible at this point to just casually dismiss the possibility of slippage in this area, given how many slippery slope effects we have already seen.

Amnesty for Vietnam Draft Dodgers: Something I came across when trying to figure out why this amnesty was so controversial.

Bank Loan Losses:

http://zerohedge.blogspot.com/2009/04/mike-mayo-seven-deadly-sins-of-banking.html

http://ftalphaville.ft.com/blog/2009/04/06/54515/move-over-meredith/

Foreign Policy & the Financial Crisis:  America as Tallest Pygmy:

http://www.wilsoncenter.org/index.cfm?fuseaction=wq.essay&essay_id=517090

http://drezner.foreignpolicy.com/posts/2009/04/06/puzzling_through_the_geopolitical_implications_of_the_financial_crisis

Suburbia:

Apparently, rumors of suburbia’s death may be greatly exaggerated.  Even w/ pricey oil, suburbs don’t die – they just become mini-cities.  Instead of people moving closer to the amenities & jobs of the city, they stay in suburbia, and those amenities & jobs move out to them.  For those desirous of lower oil consumption:  note that the development of such “peripheral cities” in the suburbs could still enable reduced commuting times & lower oil consumption.  OTOH, the cursed suburbs would still survive….

SF Loanwords

Economic Excess Capacity

P2P Lending Crackdown

Credit Crunch, Small Business Edition:

Deflation Watch, Consumer Haggling Edition:

Newspapers + LBO + Economic Crisis = Dead Newspapers

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