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Day 21 10 May 2010

Posted by marisacat in DC Politics, Inconvenient Voice of the Voter, The Battle for New Orleans.

NOAA Ocean Explorer: Gulf of Mexico Expedition 2002

Close-up of mussels, Bathymodiolus childressi, from the Brine Pool. The expanded filaments on the mussel shells are byssal threads produced by the feet of the mussels and used to hold on to neighbors.

Image courtesy of Gulf of Mexico Expedition 2002
NOAA Ocean Explorer/ Photo from Miami Herald

From the Miami Herald, a McClatchy report:

BILOXI, Miss. — Nineteen days after oil started spewing into the Gulf of Mexico, experts appeared Sunday to have no certain plan for sealing anytime soon a runaway well 5,000 feet below the gulf’s surface.

Meanwhile, boychicks are a-prayin’

For now, making the cofferdam work is the priority, said Mark Proegler, a BP spokesman at a command center in Robert, La.

“I have every confidence we’ll find a good temporary solution,” Proegler said, while acknowledging that he could not give a time frame for when another solution could be in place. “We certainly have every hope and prayer that we find a solution as soon as possible to mitigate the oil flow.”

I for one have every confidence.

Surely 19 boats out there skimming is a TYPO?

Nineteen ships were plying the gulf, skimming oil from the surface, and the Coast Guard reported that it had recovered 91,000 barrels of an oil-water mix — about 10 percent of which is oil — from the spill.

Other reports floating around the Gulf are reporting much higher numbers of boats out there skimming…. Wonder which is right? Or is the idea to DESTROY the gulf so all the silly people begging for a livelihood on the water GO THE FUCK AWAY.

Have to wonder.

This being McClatchy we get some straight reporting… my confidence levels remain high.

It was [Coast Guard Commander] Allen who raised the possibility of using shredded tires and golf balls and other debris to help plug the gusher. He called the strategy a “junk shot,” designed to plug the blowout preventer — the safety mechanism that should have sealed off the well after the April 20 explosion.

“I think I hear an experiment,” said Robert Bea, an engineering professor at the University of California at Berkeley and oil pipeline expert who spent 18 years with Shell Oil. “They are pulling every trick known to bring this thing under control.”   [but do they have a magician in the house?  Mcat]

On Saturday, BP’s chief operating officer, Doug Suttles, said the process of injecting junk into the blowout preventer had “certain issues and challenges and risks with it.”

On Sunday, Proegler said only that the strategy was “another backup option. Subsea, we’re continuing to evaluate ways to overcome the challenges we encountered.”

He said there was no way to estimate when the leak would be contained and that no time has been set for another attempt to place the cofferdam.

“We’re trying to move as expeditiously as possible, but as safely as possible,” Proegler said. “We have every resource devoted to do this as quickly and safely as possible.”

Up a creek, no paddle.  That is what I hear.

Somebody needs to leak some internal BP, Dept of the Interior memos.  And fast.





1. marisacat - 10 May 2010

Here is a depressing read, from the AP:

Coast Guard crew finds Gulf oil’s smell ‘nasty’

By MELISSA NELSON Associated Press Writer

IN THE GULF OF MEXICO — From the crew of the U.S. Coast Guard Cutter Oak’s engine room to the officers on its deck, “nasty” is the operative word to describe the mouth of the Mississippi Delta, now covered for miles in rust-colored tendrils of oil.

The South Carolina-based cutter spent two days in a slow churn from Pensacola Naval Air Station before finding leading edges of the massive slick, hazy and pink ocean waters streaked with red ribbons of oil.

It made an impressive and heartbreaking scene.

The Coast Guard cutter is on the front line in a fight to keep an enormous swath of oil, some 60-miles wide and 90-miles long, from reaching the Gulf Coast.


From the ship’s decks and bridge, there is a mild smell of burnt charcoal and the ocean looks pink and red.

Up close, the colors give way to something thicker and different.

“It’s like a liquid tar, like a molasses, a thick gooey, molasses. It looks red in the water, but up close it’s brown,” said Jesse Carns, a hazardous materials specialist from the Coast Guard’s elite Atlantic strike team based in Fort Dix, N.J. He had ridden atop a 45-foot rubber tank used to collect the mess that the cutter skimmed from the ocean’s surface and helped transfer the tank to a smaller ship, which then went to a waiting barge. The barge will empty the tank and return it to the cutter for more skimming.

The skimming is hard, physical work – it takes hours for 10 deck hands using ropes, pulleys and a crane to maneuver the skimmer and its tank, which weighs 3,000 pounds when empty. The sun beats down and the humidity is high. Anyone who comes near the oil must wear protective suits and gloves, which means even more heat. The ship’s deck is layered in plastic to protect it from toxic mess.

The scene is rancid and dangerous, becoming more so as the work continues. snip

Read more: Link to Miami Herald

2. marisacat - 10 May 2010

Snicker snax… not that they have not cleared bigger and more fake hurdles before!

–Chuck Todd tweets: ‘Btw, guess which fairly new Dem senator may be hoping Kagan news isn’t true: Arlen Specter who voted against her for Solicitor General.’ Answer: Arlen Specter …

@The Fix: ‘Rs who voted for Kagan as Solicitor General: Coburn, Snowe, Collins, Gregg, Kyl, Lugar AND Hatch!’

3. marisacat - 10 May 2010

Comment to Glenn G’s latest on kagan:

Monday, May 10, 2010 05:35 AM

The perfect Obama nominee

Since Kagan is Obama’s ideal nominee, we should definitely reverse anything she says during the confirmation process.

I think we should rely on that method of predicting what she will actually do once she is on the court.

Not that it matters now.

Watching yet another Obama charade is going to be absolutely unbearable. I’m upping my Netflix limit.


I concur!!

[Spitzer on CBS, he wuvs Elena!!]

4. catnip - 10 May 2010

kos goes after Michelle – “Classless”

GBCW and Michelle photo diaries raving about her gowns expected by noon.

Obamalama’s pentagon kicking journalists out of Khadr’s pre-“trial” hearing for publishing the name of an already publicly identified “interrogator”; Miranda rights expendable; the Kagan pick…just another week in fascist ObamaLand…

marisacat - 10 May 2010

GBCW and Michelle photo diaries raving about her gowns expected by noon.

Orange Lube.

marisacat - 10 May 2010

oh the thread gave me a massive orange headache. what a mess.

catnip - 10 May 2010

Hilarious, huh? Her defenders claim she’s “apolitical” and that she doesn’t know anything about the primary. IOW, she’s an idiot. But that’s better than having been “classless” somehow. lol

marisacat - 10 May 2010

😆 she jsut ignorantly read it, no idea what the speech or remarks were. Tip top defense… Did she know what state she was in?

Geesh whatever!

catnip - 10 May 2010
marisacat - 10 May 2010

“it is so painful what our leader Kos has done, I simply cannot live with it. I love and admire Michelle and our Pretzel, and Kos has hurt me beyond all repair. I am sad, but I must go.”

Or some version of that……….. snicker. Orange tears.

catnip - 10 May 2010

But I understand why this place has sunk into the depths of hell. The leader has sunk into the depths of hell.


marisacat - 10 May 2010

but a class ridden hell.

catnip - 11 May 2010

A bizarre story: Family of 4 missing in Quebec landslide

Their house almost disappeared in a sinkhole.

catnip - 11 May 2010

A Tory/Lib Dem coalition. This should be interesting.

5. diane - 10 May 2010

Of course there was a foretelling of potential doom, but there’ve been villages to drone, elections to win, and fortunes to be made:

Past spill exercises foretell current disaster


Many of the problems responders face in today’s oil spill were spelled out in the mock disaster staged eight years ago, known as the 2002 Spill of National Significance Exercise. Such exercises include participants from multiple local, state and federal agencies and the private sector.

That exercise and several since also led to repeated calls for an increase in the current $1 billion limit on emergency funding from the federal Oil Spill Liability Trust Fund for accident responses. The recommendation wasn’t acted on until days after the BP rig explosion, when a Senate bill was introduced that would remove the limit and provide immediate access to money for cleanup.


6. diane - 10 May 2010

Doesn’t get much uglier than this:

A Strike Against Oil Spill Lawsuits
— By Mac McClelland
| Mon May. 10, 2010 9:43 AM PDT

With the Deepwater Horizon leak pumping 210,000 gallons of oil a day into the Gulf of Mexico and the outer edges of the slick now hitting Louisiana, the state has a lot on its plate. Including a new proposal to immobilize the legal clinics that could help residents bring suit against BP or other parties involved in the spill.

Tomorrow, the Louisiana State Legislature is scheduled to hold a hearing on Senate Bill 549, the baby of Sen. Robert Adley (R-Benton), who wants to stymie the work of university law clinics that represent low-income clients while providing hands-on training for future lawyers. Under the measure, the clinics would be barred from filing suits against government agencies, suits seeking monetary damages, or suits that raise state constitutional challenges. Adley has admitted that a key target of the bill is the Tulane Environmental Law Clinic (TELC), whose students and attorneys have successfully litigated dozens of suits against industrial polluters and other environmental offenders on behalf of Louisiana citizens.


diane - 10 May 2010

and more ‘magic’ from BP:

BP to deploy ‘top hat’ dome ‘within 72 hours’

and all along, we’ve been thinking those containers were just faulty condoms, but this one came off of the head of a real magician…………..

7. diane - 10 May 2010


what? doesn’t everyone feel empowered?

awwwwwwwww …… and looky here

Moody’s CEO Dumped Shares The Day SEC’s “Wells Notice” Arrived — And So Did Buffett!


We think Moody’s (MCO) should have immediately announced that the SEC had served it with a “Wells Notice” on March 18th, when the Wells Notice arrived, instead of waiting two months and disclosing this news in its 10Q.

We suspect Moody’s investors will also be interested to know that CEO Raymond McDaniel dumped 100,000 shares of stock at $29 a share the day the Wells Notice arrived. And that Berkshire Hathaway (BRK) sold ~678,000 shares that day and another ~300,000 or so in the week that followed.


diane - 10 May 2010

Hnnnh, Gramps Buffett sure do know how ta work those bootstraps, don’t he?

tis magic ya’ll, ……. kinda like pullin tar bunnies and humans burnt alive, out a tophat…………….

diane - 10 May 2010

gonna go listen to Ella sing Mack the Knife..on the merry go round table ………………

8. marisacat - 10 May 2010

I was happy to see today a shareholder, who I think is a name partner in the firm filing the suit and not just legal counsel, is suing BP for having been been unsafe in its business practices and now set to loose a lot of money.

Filed in NO…

We’ll see where it goes… not that any of this will resolve… in my lifetime.

Even Cosco Busan, which officially was only 80,000 gallons in SF Bay, two or so years ago, will be years in teh courts.

9. marisacat - 10 May 2010

Sky Truth has a new blog for spill observations from Gulf people… http://oilspill.skytruth.org/

Not sure how user friendly it is (but then I am challenged with this sort of thing unless very simple) but I see a big red dot on their map, around Tampa St Pete Sarasota. I think the red dot means land fall…

And that would be FLORIDA.

10. marisacat - 10 May 2010

This leaves a lot unsaid, but DLC all the way, that screams out.

[A]t the end of Clinton’s first term, she planned to return to the University of Chicago Law School to resume teaching when [Bruce] Reed [one of the top 2 DLC] persuaded her to stay in the White House as his domestic policy lieutenant, his right hand.

Reed said Kagan wasn’t a political hire. “We had plenty of those,” he said. “I wanted a brilliant lawyer who could run circles around everyone else.”

Reed and Kagan operated as equals, running policy decisions in the office and up to the Oval Office. snip

Madman in the Marketplace - 10 May 2010

the bile rises …

marisacat - 10 May 2010

All sorts of Dem party sites denied hotly she was gay (The Nation ran several denials… snicker)…. but all sorts of gay sites, left and right, say she lives openly with a partner/GF/whatever term they used. AND a couple of conservative gays are saying, people deserve to know WHO it is. Mainly for issues of connections alliances, etc., same as with married people.

Good luck.

11. marisacat - 11 May 2010


[T]he Agriculture Department said 39.68 million people, or 1 in 8 Americans, were enrolled for food stamps during February, an increase of 260,000 from January. USDA updated its figures on Wednesday.

“This is the highest share of the U.S. population on SNAP/food stamps,” said the anti-hunger group Food Research and Action Center, using the new name for food stamps, Supplemental Nutrition Assistance Program (SNAP). “Research suggests that one in three eligible people are not receiving … benefits.”

Enrollment has set a record each month since reaching 31.78 million in December 2008. USDA estimates enrollment will average 40.5 million people this fiscal year, which ends Sept 30, at a cost of up to $59 billion.

For fiscal 2011, average enrollment is forecast for 43.3 million people.

brinn - 11 May 2010

As the kids say….”oh, SNAP!”

Could be eligible for food stamps if I had the $$ to get legally divorced…..ah, well! 😉

marisacat - 11 May 2010

luv how they renamed it……………… Our choices are authoritarian technocrats who fill what time they DO work with “busy work”, or the ogres.

Is there no no fault divorce in Tejas?

brinn - 11 May 2010

Yep, easiest no fault in the damned country…..even with the boys, I think he and I could manage it BUT the debt we incurred over the decade we were together is going to be a bone of contention…..

The Theatre of the Absurd really, we have NO assets, but the splitting of the debt load is where we’ll have to bring in the lawyers…part of me thinks, oh, hell, just take the debt, get the papers signed and declare bankruptcy, but they’ve made that so goddessdamned hard too…..

meh. I’m ok with the status quo for now so long as he keeps me on his health ins. Food Stamps, er, SNAP, wouldn’t begin to cover that expense in any case!!

What a fucked up system we struggle to survive in, eh?

marisacat - 11 May 2010

ugh I get it… what a mess.

brinn - 11 May 2010

It’s ok for now….me and mine, I mean — it could be a hell of a lot worse!

Thanks tho!

catnip - 11 May 2010

You don’t have any kind of legal aid help down there to help out with divorce costs?

How much are you looking at? Maybe we can do a fundraiser. 😉

brinn - 11 May 2010

Aw catnip, thanks, but whatever funds you kind souls might raise can be better spent, I assure you! Hell, I’m looking at my paper-thin budget to see if the water I give out in summer time to the people on the side of the road is still doable…I’d probably “misuse” the funds! LOL!

I really really really appreciate the thought though — thanks!

brinn - 11 May 2010

Oh, and legal aid?

I tried to make use of that “resource” when I was trying to establish paternity for son the elder….there are a lot of very hard-working well-intentioned people working in our legal aid system, however, for civil issues, they really can’t do a damn thing for you…

Ah, American bureaucracy…gotta love it! We’re number ONE! 😉

catnip - 11 May 2010

That’s really unfortunate. There’s help here through legal aid, last I checked.

We have lots of water too. 😉

marisacat - 11 May 2010

the surpermarkets here sometimes run ridiculously, unbelievably low priced sales on flats of 24 bottles of 16 oz locally bottled water. Here it is usually Arrowhead…. they must run it as a loss leader.

I have only noticed this as I do try to keep 36 – 48 bottles of water stashed on the porch, in cse of earthquake and I try to replace it every year…

12. marisacat - 11 May 2010

IOZ: Rapidly Vapid

[T]he belief that the sole and entire purpose of one’s formation is to form oneself into an adequate candidate for employment has contributed monumentally to the paucity of intellectual life in our great, forlorn nation, and the calculated rise of men and women like Kagan is a direct result. If you want another, consider Our President, as the Kossite-Progressive rump movement still reverentially calls him: a man of some intellect and some grasp of the native tongue who has conscientiously idiotized himself in order to become the world’s most powerful Distric Manager.

diane - 11 May 2010

Thanks for that!

Loved this line:

The belief in America’s high-tech, service-sector future is an element of the catechism of Merit.

So rare to see what should be abundant criticism, in my mind, of that ‘high tech, service sector future.’

marisacat - 11 May 2010

yeah I thought it was an excellent post…

ALL of the people commenting with similar strains on Kagan, from Brooksie, to Toobin to others, ARE JUST LIKE HER.

diane - 11 May 2010

in fuckin deed, yeah he frackin nailed that post.

and about that merit system, if it didn’t exist, the likely reality, if it was done away with, is that there wouldn’t then be the malpractice by those who have thoroughly lost any sense of an actual vocation.

13. marisacat - 11 May 2010

I dunno Hersh… think Obama belongs in your “liar” pretzel club. (so far Sy won’t include Obby in there).

Sy himself… think this will make it into Remnick’s roll of toilet paper known as The Fucking New Yorker?

[A]nd I’ll tell you right now, one of the great tragedies of my country is that Mr. Obama is looking the other way, because equally horrible things are happening to prisoners, to those we capture in Afghanistan. They’re being executed on the battlefield. It’s unbelievable stuff going on there that doesn’t necessarily get reported. Things don’t change.


What they’ve done in the field now is, they tell the troops, you have to make a determination within a day or two or so whether or not the prisoners you have, the detainees, are Taliban. You must extract whatever tactical intelligence you can get, as opposed to strategic, long-range intelligence, immediately. And if you cannot conclude they’re Taliban, you must turn them free. What it means is, and I’ve been told this anecdotally by five or six different people, battlefield executions are taking place. Well, if they can’t prove they’re Taliban, bam. If we don’t do it ourselves, we turn them over to the nearby Afghan troops and by the time we walk three feet the bullets are flying. And that’s going on now.

Not for The New Yorker, not anytime soon. Not ever.

[bolding is as at Tiny Revolution]

14. catnip - 11 May 2010

Dang Firefox. Ever since I added the noscript add on, I keep forgetting to make sure my comments here show up in the right place.

15. marisacat - 11 May 2010

Kind of interesting how things happen under other systems….

Breaking News from ABCNEWS.com:

Conservative Leader David Cameron Is Britain’s New Prime Minister Following Meeting With the Queen [3:36 p.m. ET]

For more on this and other breaking news go to ABCNews.com: http://abcnews.go.com?nwltr=bn

catnip - 11 May 2010

Well, maybe Gordon Brown can join Tony in bringing peace to the Middle East.

(Yes, I laughed out loud when I typed that.)

Madman in the Marketplace - 11 May 2010

so when does he start killing the National Health System?

16. catnip - 11 May 2010
17. marisacat - 11 May 2010

IF it comes to pass it would be the least he could do. From my reading at this point it is a proposal to split off MMS.

And I notice poking around, they (obby and salazar) may have little choice, Mineral Management Services signed off that gas leaks were not a problem.

Well oops. Big oops. Mega oops. (No one knew the levees would fail!)

Google page

diane - 11 May 2010

speakin of levees…..

wonder what the new ownerhip of the ninth ward looks like, but too scared to research it …….

how many of those folks didn’t trust the banks to hold their property records……………………..(not that that would’ve done any good)

18. diane - 11 May 2010
19. diane - 11 May 2010


Kagan’s another bootstrap garage/downtrodden neighborhood fable…

yeah ….I LIED, jus wonderin what BoBooHooHooMan’z up ta?


diane - 11 May 2010

do I get a speshul badge for that Arianna?

diane - 11 May 2010

sorry, couldn’t help that, listenin to James Brown, and about to put on the Funky Drummer

yeah, cut out those light and call the law but make sure you cut out the lights first, …..and DUCK….hit the FLOOOOR.

marisacat - 11 May 2010

well he did trot it out again pretty fast… and again for a NYC white ehtnic. Sotomayor may be PR but she is pale.

I am absolutelyfucking totally worn out by “firsts”. They can stuff it.

diane - 11 May 2010

that whole Belize Club thing, surrounding Sotomayor, gave me a freeze up,….I haven’t been able to describe in words yet …….

then again, perhaps, it is this ……

the instinctive meaning of club, in my world, is a weapon that knows no sympathy, heart, or reaoning…….it just wants to kill…………….

diane - 11 May 2010

reasoning, not reoning.

diane - 11 May 2010

(that explanation was for those still beholden …who must have things spelled out perfectly in a language, they will never master anyway, yet cling to, for fear they will be condemned as the ignorant…also………..and are too afraid to follow their fate………………………)

I dare say…….

ya’ll …don’t have too much of a choice…..

bit, what do I know, after all, I’m a drunk bitch…………….

diane - 11 May 2010

for those same,

but …..not bit……………….

diane - 11 May 2010

we are swimming in “dumb/ignorant,” and hateful, “intelligent” blood…

is there really no tomorrow?


diane - 11 May 2010

of course not, but damn………………….lookin rather bleak…………….

the singularity?

(look up Kurzweil, or waz that i before e?, and THE MILITARY thoroughly, …….. including the Rolling Stones article in February 2009 (or 2008. hard to keep track)?)

haven’t we had about enough of that “singularity”?

diane - 11 May 2010

yeah, and I’m one of those, more times than I’d care to remember (or could even bear to remember),

and yeah,

I’ve hated myself for something I should’ve liked myself for, and held out myself for,…. to save myself, for something I hate myself for.

diane - 11 May 2010

oops, as usual

that last comment:

of course not, but damn……..

was meant to be appended (ain’t that word speshul) to the comment which began thusly:

(that explanation was for those still beholden…..

yeah, well, I need no shovel……..I’m already in possession of one………………..(not to say that Kurzweil/iel, isn’t an even much, much, much, larger fool than I, because he has apparently commandeered the attention of the US government, in his philosophy (check out his <Singularity Institute, (right next door to the Google, NASA, Moffett Field, CMU CALI cluster), which appears to be readying itself to preside over those “Top Minds” which will rule the world as we know it.)

diane - 11 May 2010

and that thing I hate myself for, is in not being able to acknowledge publicly, because I’d likely be jailed, and/or under a bridge (with all liberal, progressives, and certainly REPUBLICAN politicians (and way too many citizens), missing upon what would have been the date of my homelessness) those events which I have witnessed and been unable to prevent, simply in the course of trying to keep a roof over my head and not be a burden to those I love. Not to say I am any saint whatsoever, but if I am the norm I believe I likely am, that should be an absolute condemnation regarding how things have been historically run in the United States, likely the world at large.

20. diane - 11 May 2010

yeah …..”day 21″

Lawrence Barcella was DC’s Deputy Dawg of the Major Crimes Unit when Orlando Letelier (former Chilean Ambassador) was murdered in DC; a murder infamous as having been the first political assassination of a foreign official in the US, on September 21, 1976.

21. Madman in the Marketplace - 11 May 2010

Chemical Concussions and Secret LSD: Pentagon Details Cold War Mind-Control Tests

The 17-page document (.pdf), “Experimentation Programs conducted by the Department of Defense That Had CIA Sponsorship or Participation and That Involved the Administration to Human Subjects of Drugs Intended for Mind-Control or Behavior-Modification Purposes,” was prepared in 1977 by the General Counsel of the Department of Defense and released on May 6 after a Freedom of Information Act request.

Most of the details have been revealed in earlier CIA papers. And if anything, the Pentagon’s recap is a reminder of how little the Department of Defense cops to knowing about the CIA projects.

Still, there are some tantalizing new details. Take the origins of MK-ULTRA, the notorious CIA program that dosed thousands of unwitting participants with hallucinogenic drugs.

Initially funded by the Navy, the project set out to study the effects of brain concussion. Soon after, scientists noted that a blow to the head prompted amnesia, leading to the pursuit of a drug-based technique to “induce brain concussion … without physical trauma.” Shortly thereafter, the project was transferred entirely to the CIA, because it involved “human experiments … not easily justifiable on medical-therapeutic grounds.”

Other programs, described briefly focused on mind control. MK-NAOMI was after “severely incapacitating and lethal materials … [and] gadgetry for their dissemination,” and MK-CHICKWIT was designed to “identify new drug developments in Europe and Asia,” and then “obtain samples.”

Edgewood Laboratories, where many of the programs were carried out, is also identified as having tested an incapacitating chemical on prisoners and military personnel without the agency’s approval. The drug, EA#3167, was “appl[ied] to the skin” of subjects using an adhesive tape.

Another program, MK-OFTEN, started as a study on dopamine. But the scope was soon expanded to evaluate ibogaine, a hallucinogen, and then several more drugs, in hopes of creating “new pharmacologically active drugs affecting the central nervous system [to] modify men’s behavior.”

And the Navy is reported to have “obtain[ed] heroin and marijuana” in an effort to develop speech-inducing drugs for use on defectors and prisoners of war. The drugs were eventually tested on 14 people: six volunteer research assistants, and eight unwitting Soviet defectors.

The report pins most of the nefarious activities on CIA-funded scientists. But that’s hardly the verdict of subsequent government documents, like a 1994 report from the U.S General Accounting Office. In that report, Pentagon officials are said to have “work[ed] directly with the CIA” and dosed “thousands” of military subjects with LSD and other drugs. Eyewitness accounts, like that of psychiatrist James Ketchum, describe outlandish Army efforts at creating hallucinogenic weapons in conjunction with MK-ULTRA.

marisacat - 11 May 2010

Not exactly a white picket fence type of story is it.

catnip - 11 May 2010


A Netflix suggestion if you’ve never seen it: The Sleep Room

marisacat - 11 May 2010

oh thank you I will look it up, both places.. 😉

22. Madman in the Marketplace - 11 May 2010

Gas surge shut well a couple of weeks before Gulf oil spill

Powerful puffs of natural gas, called kicks, are a normal occurrence in many deep-ocean drilling operations.

But one intense kick of natural gas caused the Deepwater Horizon drilling rig to be shut down because of the fear of an explosion just weeks before a similar release succeeded in destroying and sinking the platform and sent millions of gallons of oil on a collision course with Louisiana and the rest of the northern coast of the Gulf of Mexico.

Shortly before the accident, engineers argued about whether to remove heavy drilling mud that acted as a last defense against such catastrophic kicks, and the decision to replace the mud with much lighter seawater won out.

Those are some of the new details gathered by Robert Bea, a University of California at Berkeley engineering professor better known in New Orleans as co-leader of an independent team of scientists that conducted a forensic investigation of the causes for the failure of levees and floodwalls during Hurricane Katrina.

23. Madman in the Marketplace - 11 May 2010

JPMorgan Chase Warns Investors About Underwater Homeowners Walking Away

About one in eight defaults in February were strategic, according to an April 29 research note by a team of Morgan Stanley analysts led by Vishwanath Tirupattur. Strategic defaults are those in which the homeowner could have continued to make payments but chose not to. The rate of strategic defaults has tripled since mid-2007, notes Tirupattur.

Underwater homeowners, those whose homes are worth less than the mortgage, now comprise about a quarter of all homeowners with a mortgage, or about 11.3 million homeowners, according to CoreLogic, a real estate research firm. Another 2.3 million have less than five percent equity in their homes (for example, a homeowner who owes more than $285,000 on a $300,000 house). All told, about 29 percent of all homeowners with a mortgage are either underwater or very close to it.

These are the homeowners most likely to strategically default, research shows. In fact, the deeper underwater homeowners are, the more likely they’ll walk away from their mortgage, according to findings by a team of academics at Northwestern University and the University of Chicago.

“Such so-called strategic defaults, once rare, are now common enough to jeopardize the already-weak housing and mortgage markets,” wrote economists Celia Chen and Cristian deRitis of Moody’s Economy.com in an April 13 note. “If the trend continues, strategic defaults could both accelerate the pace of home foreclosures and also make it harder for new borrowers to obtain mortgages. Both factors would in turn worsen the decline in house prices.”

marisacat - 11 May 2010

It would have been sos much better to admit the situation, re-negotiate with in situ mortgage holders who could prove they could maintain a mortgage and for banks to admit so many houses are worth less.

I read that banks a year or so ago handed out “temporary” redos, reducing peoples’ mortgages, as ti was a condition of participating in TARP (or whatever the letters were) but there were no conditions laid down for permanent refis.

Madman in the Marketplace - 11 May 2010

it’s about their egos, the banksters CAN’T renegotiate, and now it’s too late.

marisacat - 11 May 2010

i dunno… i think it is som plan even beyond their egos. i realise they did not want to be bothered with being fiduciarilly [hey that might be a word!] responsible…. and they wanted to walk on all but those thinking on some illusion of re recovery in just a few years… etc.

an assessment has been made they are not too interested in small end ”retail” or individual home credit extension… makes me think there is some big next ”shock”.

24. marisacat - 11 May 2010

So……………… follow the bouncing ball

[W]alzer, half amused and half appalled to be discussing her friend’s sexual orientation, agreed to be interviewed after Kagan’s supporters decided they should tactfully put an end to the rumor, which White House officials had already tried to squelch in background interviews with reporters. She said she decided to talk to POLITICO because the discussion of Kagan’s personal life has become a “distraction.” [soon to be unprecedented and then historic, so we are on track!! – Mcat]

“It’s taking away from substantive discussion of the issues from a really substantive person who deserves to be given the opportunity to address the substantive issues,” she said.

25. marisacat - 12 May 2010



………………………. 8)

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