Thursday, November 20, 2008

I go yugo

Rust in peace.

As a eulogy, let's all take a moment to listen to that great paean to the $3000 new car: The Left Wing Fascists' "I Drive A Yugo."

If things keep going the way they seem to be, I may be posting LWF's "K-Mart Shopper" before too long.

Tuesday, November 18, 2008

Fannie and Freddie sub-prime culprits?


Lots of good data (and pretty graphs!). Long story short, Fannie and Freddie were doing fine because they largely avoided the sub-prime market (due to dastardly Democrat regulations!), then they bought a bunch of mortgage-backed securities that were inaccurately rated. Sub-prime foreclosures undercut the value of those securities, and the F&F siblings got hosed.