Moving right along, on the bailout/stimulus efforts from the Obama administration, President Obama unveiled a $75 billion plan today geared to help millions of “homeowners refinance their mortgages or avert foreclosure.” The initiative Obama said ”would shore up distressed housing prices, stabilize neighborhoods and slow a downward spiral that he said was ‘unraveling homeownership, the middle class, and the American Dream itself.’”
Speaking at a high school gymnasium in Mesa, AZ, Obama told the crowd, “This plan will not save every home, but it will give millions of families resigned to financial ruin a chance to rebuild. It will prevent the worst consequences of this crisis from wreaking even greater havoc on the economy. And by bringing down the foreclosure rate, it will help to shore up housing prices for everyone.”
The plan has three basic components. One would help homeowners who continue to make loan payments on time, but are paying high interest rates and would otherwise not be able to refinance because they do not have enough equity or their houses are worth less than they borrowed. A second would assist people who are at risk of foreclosure by providing incentives to lenders to alter the terms of loans to make them substantially more affordable to struggling homeowners. The third would try to assure there is plenty of credit available for mortgages by giving $200 billion of additional financial backing to Fannie Mae and Freddie Mac, the two government-controlled mortgage finance companies.
The new plan will officially take effect on March 4, when the Obama administration will publish the detailed rules to explain it. The NY Times notes that “most of the plan can be enacted by Mr. Obama though his executive powers, although part of it — including changing the bankruptcy laws to allow homeowners to seek changes to their mortgages through bankruptcy proceedings — will require legislation.”
The White House Blog has a lot more info here. Personally, I prefer seeing this sort of bailout, the kind that helps Americans and not corporations. Nothing is going to fix this colossal economic mess overnight, but there is a sense that far more is being done by the Obama administration to fix this mess than we ever got from fool that left us with it.
Perhaps it is equally big news that Obama has come out against the ‘Fairness Doctrine’.
Where did you read that pmichael.
By the way all, Chris Matthews just sang loud praises of Hillary and gave her the Hardball Award. So, I guess he must think highly of her after all. He did nothing but give her great accolades.
Betsy:
http://www.foxnews.com/politics/first100days/2009/02/18/white-house-opposes-fairness-doctrine/
Did you get the EagleCam ? (3 eggs as of Feb 13th)
is that the eagle in Norfolk, VA? Or where is that eaglecam. Norfolk has 2 eggs that I know of. And so far on Channel Islands there have been no eggs laid yet.
Betsy – I don’t have it in my cutnpaste at the moment but it’s CA –
OH! Just go to the previous article’s comment area. I left you a link there. Hurry. The sun is going down.
Ok pmichael that’s turtle bay. Believe it or not my sister just called from Yorktown, VA. She and I both watch the nest at Norfolk and she said that a 3rd egg was laid at midnight last night.
Now the eagles on the Channel Islands need to start laying.
Okays, I gotta run. Besides the 1st results show of the Idol season (will Tatiana not be in the top 3 because she suddenly turned ‘normal’ ???
), I have a pinnacle event tonight. I sincerely doubt if many in this room will appreciate this — but tonight I am going to actually complete the final chapter of Half-Life 2 (Dark Energy). As someone who re-does every chapter until I exit with perfect health and shield — this has been a multiple-year project. 
Night all.
pmichael Says:
February 18th, 2009 at 8:56 pm
), I have a pinnacle event tonight. I sincerely doubt if many in this room will appreciate this — but tonight I am going to actually complete the final chapter of Half-Life 2
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okay, For some reason I’ve been thinking all this time you were like 60 years old… unless you’re the oldest gamer in the room
# Betsy Says:
February 18th, 2009 at 8:41 pm
Now the eagles on the Channel Islands need to start laying.
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makes me wonder about the Cal Condor’s… haven’t heard much about them in quite awhile.
Betsy Says:
February 18th, 2009 at 7:40 pm
Where did you read that pmichael.
By the way all, Chris Matthews just sang loud praises of Hillary and gave her the Hardball Award. So, I guess he must think highly of her after all. He did nothing but give her great accolades.
Well, well, miracles never cease. Matthews must have had an epiphany. Praising Hillary is not in his nature.
GeoT
I had been wondering about the Condors too. I remember when they let those few (?) back into the wild in the Santa Monica Mountains. Always thought it would be amazing to see one. Only saw one eagle in all the years I lived in CA. Have seen quite a few since I have been here.
Well, I just found out that the eagles at Two Harbors on Catalina Island, just laid their first egg.
HRC post above…
Betsy, et al
It’s nice to know there’s birds of a feather around here (fellow bird lovers.)
# PamelaLeavey Says:
February 18th, 2009 at 9:15 pm
Only saw one eagle in all the years I lived in CA. Have seen quite a few since I have been here.
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I had a Bald Eagle perch on a tree right outside my backdoor in Newfoundland it was amazing.
Since they let it grow wild it is used more and more by migratory birds.
No eagles in So Cal but I saw a Blue Heron feeding in the L.A. River, that was a surprise
Pamela:
June 2008 California Condor Update:
World Total: 315 CA: 78 plus 6 chicks=84 Baja: 13
http://www.desertusa.com/desertblog/?p=2535
wow!
http://www.marvelousmarv.com/Condor%20Spreadin%27.jpg
GeoT
I saw a lot of hawks mostly. Got Cal Blue Jays at my birdfeeder too. Last spring we had a Cooper’s Hawk nest in the neighborhood. The young would come sit on the telephone wires out back.
It’s good they have started to let the LA River go wild, they should rip up that damn thing they built to guide it… dreaming , I know.
GeoT
Didn’t they only release like a dozen or so. That’s wonderful there are so many now. Thanks for the link to the pic. Very cool and large!
# PamelaLeavey Says:
February 18th, 2009 at 9:42 pm
That’s wonderful there are so many now. Thanks for the link to the pic. Very cool and large!
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2 megs sorry!
# PamelaLeavey Says:
February 18th, 2009 at 9:39 pm
It’s good they have started to let the LA River go wild, they should rip up that damn thing they built to guide it… dreaming , I know.
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great infrastructure project!
Pamela, if you ever want the links to the bald eagle cams on the channel islands just let me know. The cameras are so close you can watch the chicks grow. In fact last year the eagle nest at Pelican Harbor had 2 that were about ready to fledge and a few days before a juvie bald eagle was harrassing them and actually knocked them out of their nests. All the people on the forum were having fits and they called the biologists. They in turn went to the nest and found both fledglings. One had a broken wing and the other had an injury. They were treated by vets and then put in a hacking tower.
The other sad fact is that only 50% of young bald eagles survive through their first year.
I’m a real advocate for them and watch about five or six cams. Especially now that they are laying their eggs.
GeoT
No the bird was large, not the size of the pic. LOL! We do have broadband up here in East(end of the middle of nowhere)port Maine.
Betsy
Thanks, I can probably find them on Google. I think they have one here in Eastport too. I know there are couple of eaglecams in Maine.
Check out the photos here: http://www.easternmaineimages.com/April-May2008/
The photographer lives up here in my area, his photos were one of the things that drew me up here to live.
# PamelaLeavey Says:
February 18th, 2009 at 10:02 pm
GeoT
No the bird was large, not the size of the pic. LOL! We do have broadband up here in East(end of the middle of nowhere)port Maine.
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I see they got a good dose of snow today in Newfoundland.
this is a live shot of Water St. downtown St. John’s:
http://www.ntv.ca/cams/pubcameast.jpg
Those are great photos Pam. How do you like living on the east coast. My hubby is from LI and I’m from Phoenix, LOL. We’ve lived most of our married life here in CO. He taught Chem at the AF Academy and retired here. We both feel that the east is just a little too cold for us. LOL
This is interesting, Canada is in the same boat (except it’s millions not billions):
Newfoundland unveils $800 million stimulus package
The provincial government announced plans for $800 million in infrastructure spending this year. With job losses in Alberta, Labrador West and Central Newfoundland, Premier Danny Williams laid out an ambitious spending plan aimed at capturing laid off workers.
http://ntv.ca/news/news.html
Betsy
I really did fall in love with the area from his photos. Great stuff. I hope to be that good one day!
I lived in coastal MA on the NH border for 33 years before I moved to L.A., so living up here in Maine is sort of like being home for me. I always wanted to live in Maine, always thought southern Maine though. I have family up here (right across the street) and so it’s been a great move for me. Thankfully I am self employed, there is no work up here, even without the economic mess.
We have a summer place up in the Berks of MA. We were going to retire there and then we decided to just stay right here. Besides are kids are closer here. Our oldest son and daughter live in SF, and our youngest son lives here. We go back to MA once or twice a year. Hubby’s sister and brother in law live just around the bend from our place. We love to go up there when the leaves are changing.
Betsy
The Berkshires are lovely. Got to have the ocean though. I am about a 2 – 3 minute walk from seeing the water. I’m getting used to the cold again. After a while it doesn’t seem so bad.