May 9th, 2008

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A Few Quick Political Things

I am glad to see the House pass the Barney Frank housing relief bill. This is the best bill for the housing crisis I have seen, much better than the solution I cam up with back in August (and we all know how conceited I am about my own ideas). I do not have time for a detailed post (hopefully later). Briefly, the bill allows homeowners to refinance with FHA insured loans, but based on current value rather than purchase value. Lenders will receive 85% of the current value of the home but will be secured against any subsequent losses. Interest rates will be reset by FHA to fixed rates.

I also direct a nod to E.J. Dionne Jr.'s column in today's Washpo. The recent triumph of Democrat Don Cazayoux ina House special election in what had been solidly Republican Cajun country tells us a good deal about the temper of the Republican base and the probability of success of Rove-ian tactics in the fall. The power of such tactics is waning considerably, and Democrats would do well to consider this fact when weighing Clinton's argument against Obama.

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Link Harvest: FISA, Comcast Earthlink

1) In an obvious effort to further alienate their net roots base before the critical 2008 election, House Democrats are considering ways to grant immunity to telephone companies over domestic spying.

2) Now that the FCC hearing is over, Comcast ditches the idea of a "Bill of Rights" for users.

But will also considered bandwidth caps.

3) And finally, Earthlink threatens to dump wireless Philly.

And people ask me why I don't "trust the market."