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palos verdes: CAN YOU BELIEVE, “St. GREENSPAN” DIDN’T KNOW? - 09/17/07 10:34 AM
Even Alan Greenspan didn’t realize the danger to the nation’s economy as a result of faulty mortgage loans. As Chairman of the Federal Reserve, wouldn’t mortgage fall under his watch? His explanation is in “Fed Speak,” as are all communications from the Federal Reserve.As I understand it, the idea behind the Federal Reserve is to keep things running smoothly, so banks that are members of the Fed are federally insured, which should be reassuring to depositors. It seems that there were fraudulent practices that were swept under the rug: the Feds ignored, lenders denied, and borrowers are hung out to dry … (3 comments)

palos verdes: Chicago Considering Adopting Paris Self-Service Bike Scheme. - 09/13/07 01:44 PM
Chicago? (Kind of hard to get around in the snow with a bike. And the humidity without A.C. might be unbearable at times.) How did the South Bay (So California, USA) overlook this opportunity to put a major dent in the areas of horrendous gas consumption, and to help get the absurd gas guzzling vehicles off the road. After all, who needs $40,000-plus ego satisfying vehicles for transportation? The French know how to do it...small cars are derigueur. (The price of petrol may have something to do with this.)But this aside, bicycles are practical. Parking isn't a problem, the cost of … (4 comments)

 

Robert Kissig

Manhattan Beach, CA

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