Touchstone Test Group Message Board

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Touchstone Test Group Message Board

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1oakes
Jul 29, 2006, 3:37 am

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2oakes
Jul 29, 2006, 3:41 am

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3Eurydice
Jul 29, 2006, 3:48 am

LOL. Why not Oakesianism and the Future of Society? Always been one of my favorite political philosophy tomes....

4oakes
Jul 29, 2006, 4:08 am

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5oakes
Jul 29, 2006, 4:08 am

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6Eurydice
Jul 29, 2006, 4:17 am

LOL. Yes - everywhere! It's that time of the morning. :) Remember, as a spirit, I have an easy time infiltrating.

How many other crazy people on LT own The President Vanishes, besides you and me?

Though I can't think myself over-welcome ;) , it seemed a solemn duty to be here, in case my comments on the use of touchstones had led you into fatal mistakes, through my own fuzziness and error... (I hope this sounds faintly theological?)

7Eurydice
Jul 29, 2006, 4:19 am

"My God! Eurydice is everywhere, even in the collections of abductee, goofus and Sphinxi!"

I always told you I wanted to be an author!

8oakes
Jul 29, 2006, 6:10 pm

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9timspalding
Jul 29, 2006, 6:29 pm

Mickey Spillane
Spillane

10timspalding
Jul 29, 2006, 6:31 pm

11timspalding
Jul 29, 2006, 6:31 pm

Spillane
Mickey Spillane

12timspalding
Jul 29, 2006, 6:34 pm

13timspalding
Jul 29, 2006, 6:55 pm

Spillane
Mickey Spillane

14timspalding
Jul 29, 2006, 6:57 pm

Spillane
Mickey Spillane

15timspalding
Jul 29, 2006, 6:57 pm

Spillane
Mickey Spillane

16Eurydice
Jul 29, 2006, 7:02 pm

If there's one thing I can say about this group, it's that no two messages are alike.

17timspalding
Jul 29, 2006, 7:10 pm

Spillane
Mickey Spillane

18timspalding
Jul 29, 2006, 7:11 pm

Spillane
Mickey Spillane

19timspalding
Jul 29, 2006, 7:11 pm

20timspalding
Jul 29, 2006, 7:11 pm

Spillane
Mickey Spillane

21Eurydice
Jul 29, 2006, 7:12 pm

If there's one thing I can say about this group, it's that no two messages are alike.

22timspalding
Jul 29, 2006, 7:12 pm

23timspalding
Jul 29, 2006, 7:14 pm

24timspalding
Jul 29, 2006, 7:23 pm

25timspalding
Jul 29, 2006, 7:24 pm

26Eurydice
Jul 29, 2006, 7:25 pm

27timspalding
Jul 29, 2006, 7:26 pm

28timspalding
Jul 29, 2006, 7:29 pm

29timspalding
Jul 29, 2006, 7:29 pm

30Eurydice
Jul 29, 2006, 7:30 pm

I really object to your inconsistency, Tim.

31timspalding
Jul 29, 2006, 7:30 pm

34timspalding
Jul 29, 2006, 7:34 pm

35timspalding
Jul 29, 2006, 7:35 pm

Bugs
Mere Christianity
Spillane
Mickey Spillane

37timspalding
Jul 29, 2006, 7:38 pm

38timspalding
Jul 29, 2006, 8:39 pm

39timspalding
Jul 29, 2006, 8:45 pm

40Eurydice
Jul 29, 2006, 8:51 pm

Consistency is one of the virtues; yet Spillane was consistent to a fault. (It could happen to you.) As I, the jury in this matter, might judge, it's a miracle his books sold so well, despite their luridness. But sometimes we must credit miracles - even of bad taste.

41timspalding
Jul 29, 2006, 9:11 pm

Will this work? I don't think so. Mark Twain was from Missouri.

42timspalding
Jul 29, 2006, 9:14 pm

Will this work? I don't think so. Mark Twain was from Missouri.

43timspalding
Jul 29, 2006, 9:14 pm

Will this work? I don't think so. Mark Twain was from Missouri.

44timspalding
Jul 29, 2006, 9:15 pm

Will this work? I don't think so. Mark Twain was from Missouri.

45timspalding
Jul 29, 2006, 9:18 pm

Twas brilling the slithy toaves, did gyre and gimble in the wabe. Lisa Carey is my wife.

46timspalding
Jul 29, 2006, 9:21 pm

Twas brilling the slithy toaves, did gyre and gimble in the wabe. Lisa Carey is my wife.

48timspalding
Jul 29, 2006, 9:30 pm

I appear to have solved the "Mickey Spillane problem," whereby two references to the same author in one post (eg., Spillane, Mickey Spillane, Love in the Asylum, Love in the Asylum: A Novel.

Now, onto the you-made-too-many-touchstones-too-quickly problem!

Thanks, Eurydice!

49timspalding
Jul 29, 2006, 9:32 pm

Ah, that triggered another problem. Let me simplify. Mickey Spillane, Spillane. Mark Twain, Twain, Vladimir Nabokov, Nabokov.

50Eurydice
Jul 29, 2006, 9:38 pm

Yay! Glad to see that's working. I do love the fuzziness that allows of word games or seamless references... :)

Afraid I'm an impish presence, sorry!

51timspalding
Jul 29, 2006, 9:59 pm

Mark Twain, Mark Twain

52timspalding
Jul 29, 2006, 10:00 pm

53timspalding
Jul 29, 2006, 10:01 pm

Mark Twain and Mark Twain and Mark Twain

54oakes
Jul 29, 2006, 10:05 pm

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55oakes
Jul 29, 2006, 10:06 pm

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56oakes
Jul 29, 2006, 10:08 pm

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57oakes
Jul 29, 2006, 10:09 pm

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58oakes
Jul 29, 2006, 10:11 pm

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59timspalding
Edited: Dec 1, 2009, 10:55 am

Mark Twain and Mark Twain and Mark Twain NOKLARUSU

60timspalding
Jul 29, 2006, 10:15 pm

Mark Twain and Mark Twain and Mark Twain

61oakes
Jul 29, 2006, 10:16 pm

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62timspalding
Jul 29, 2006, 10:16 pm

Mark Twain and Mark Twain and Mark Twain

63timspalding
Jul 29, 2006, 10:17 pm

Mark Twain and Mark Twain and Mark Twain

64oakes
Jul 29, 2006, 10:17 pm

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65timspalding
Jul 29, 2006, 10:20 pm

Mark Twain and Mark Twain and Mark Twain

66timspalding
Jul 29, 2006, 10:21 pm

Mark Twain and Mark Twain and Mark Twain

67timspalding
Jul 29, 2006, 10:22 pm

Mark Twain and Mark Twain and Mark Twain

68timspalding
Jul 29, 2006, 10:22 pm

Mark Twain and Mark Twain and Mark Twain

69timspalding
Jul 29, 2006, 10:22 pm

Mark Twain and Mark Twain and Mark Twain

70timspalding
Jul 29, 2006, 10:23 pm

Mark Twain and Mark Twain and Mark Twain

71timspalding
Jul 29, 2006, 10:23 pm

72timspalding
Jul 29, 2006, 10:25 pm

appear to have solved the "Mickey Spillane problem," whereby two references to the same author in one post (eg., Spillane, Mickey Spillane, Love in the Asylum, Love in the Asylum: A Novel, Love in the Asylum.

Now, onto the you-made-too-many-touchstones-too-quickly problem!

Thanks, Eurydice!

73timspalding
Jul 29, 2006, 10:26 pm

O rapture, o joy!

74timspalding
Jul 29, 2006, 10:29 pm

And this completes it.

75Eurydice
Jul 29, 2006, 11:02 pm

Following my own rules (not I suspect, according to Hoyle), I'll match your Adam Smith, Zadie Smith and Mickey Spillane, and raise you an Ali Smith (throwing in a 'contemporary authors A-Z' almost effortlessly)...

I'malmost tempted to lay a Hammett - and not just any Hammett, but The Continental Op - that I'm holding the aces here.

All I can say on #61 is, 'What's wrong with the world?'

76timspalding
Jul 30, 2006, 4:04 am

Testing.

77timspalding
Jul 30, 2006, 4:05 am

Testing.

78timspalding
Jul 30, 2006, 4:05 am

Testing.

79Buddywuddy
Jul 30, 2006, 4:13 am

Here is a test.

80_Celeste_
Jul 31, 2006, 11:43 pm

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81timspalding
Aug 1, 2006, 12:09 am

Here is a verse about rabbits, that doesn't mention their habits.

82etrainer
Aug 1, 2006, 3:46 pm

Very enlightening

83Eurydice
Aug 2, 2006, 6:29 am

Oh, etrainer; why bother with enlightentment, when one is simply hungry?

84Eurydice
Aug 2, 2006, 6:31 am

(Oops. Can you tell I'm really very tired?

On the subject of this touchstone... well, in context the book is rather funny. And who needs help to tell?

85Ealhmund
Aug 7, 2006, 5:58 pm

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86Ealhmund
Aug 7, 2006, 6:03 pm

You think that's hungry...

87Ealhmund
Aug 8, 2006, 11:22 am

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88Ealhmund
Aug 8, 2006, 11:24 am

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89oakes
Edited: Feb 27, 2007, 12:11 am

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90oakes
Edited: Feb 27, 2007, 12:25 am

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91oakes
Mar 6, 2008, 9:35 pm

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93oakes
Mar 7, 2008, 8:56 pm

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94Carnophile
Edited: Jun 4, 2008, 4:23 pm

95Carnophile
Edited: Jun 4, 2008, 4:24 pm

I really love Swanwick's Gravity's Angels, as opposed to the Gravity's Angels written by Pynchon.

96Carnophile
Edited: Jun 4, 2008, 4:25 pm

I also love Swanwick's Gravity's Rainbow, as opposed to the Gravity's Rainbow written by Pynchon.

97Carnophile
Mar 16, 2008, 9:27 pm

While I have no strong feeling one way or another about Pynchon's Gravity's Rainbow, I really like Swanwick's Gravity's Angels.

98Carnophile
Edited: Jun 4, 2008, 4:26 pm

99Carnophile
Edited: Jun 4, 2008, 4:27 pm

I admire the book The Future and its Enemies by Virginia Postrel.
Also The Open Society and its Enemies by Postrel Karl Popper.

100Carnophile
Mar 17, 2008, 7:22 pm

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101Carnophile
Mar 17, 2008, 7:23 pm

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102Carnophile
Mar 17, 2008, 7:24 pm

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103Carnophile
Mar 17, 2008, 7:27 pm

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104Carnophile
Mar 17, 2008, 7:28 pm

Can I touchstone a URL? let's find out:
http://www.librarything.com/work/74404

105Carnophile
Mar 17, 2008, 7:28 pm

Apparently not.

106oakes
Mar 29, 2008, 9:57 pm

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107oakes
Edited: Apr 6, 2008, 4:10 pm

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108oakes
Edited: Apr 7, 2008, 2:34 am

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109oakes
Edited: Apr 7, 2008, 2:36 pm

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110oakes
Apr 10, 2008, 2:38 am

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111Eurydice
Edited: Apr 10, 2008, 11:08 pm

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112oakes
May 18, 2008, 8:02 pm

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113timspalding
May 18, 2008, 11:15 pm

That's a lot of deleting!

114oakes
May 26, 2008, 10:28 pm

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115oakes
Edited: Jun 9, 2008, 3:01 am

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116oakes
Jul 13, 2008, 12:13 am

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117Carnophile
Jul 17, 2008, 10:08 pm

italics
bold
strikeout

118oakes
Jul 19, 2008, 4:39 am

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119oakes
Edited: Jul 19, 2008, 5:18 am

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120oakes
Jul 19, 2008, 5:20 am

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121oakes
Jul 19, 2008, 5:24 am

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122oakes
Edited: Jul 19, 2008, 5:59 am

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123oakes
Jul 19, 2008, 6:02 am

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124oakes
Jul 19, 2008, 6:04 am

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125oakes
Edited: Jul 19, 2008, 6:48 am

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126oakes
Edited: Jul 19, 2008, 6:51 am

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127oakes
Edited: Jul 19, 2008, 6:57 am

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128oakes
Edited: Jul 19, 2008, 7:00 am

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129oakes
Jul 19, 2008, 7:04 am

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130Carnophile
Aug 20, 2008, 5:58 pm

Strike

131Oakes_Spalding
Sep 4, 2008, 10:28 pm

Test

132oakes
Sep 4, 2008, 11:14 pm

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133oakes
Sep 4, 2008, 11:14 pm

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134oakes
Sep 5, 2008, 12:30 pm

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135oakes
Sep 5, 2008, 5:36 pm

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136oakes
Sep 5, 2008, 8:05 pm

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137oakes
Edited: Sep 6, 2008, 6:42 pm

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138Carnophile
Edited: Sep 8, 2008, 7:35 pm

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139Carnophile
Sep 9, 2008, 10:21 pm

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140oakes
Edited: Sep 25, 2008, 2:46 am

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141Carnophile
Sep 27, 2008, 9:57 pm

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142Carnophile
Sep 27, 2008, 9:58 pm

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143Carnophile
Edited: Sep 27, 2008, 10:00 pm

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144oakes
Sep 30, 2008, 3:59 am

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145Carnophile
Sep 30, 2008, 8:39 am

This is not Carnophile. Carnophile's account has been purchased at below-market rates by the Treasury and will be auctioned off once the market for LT accounts has become more stable. Please remain calm during this time of exceptional stress on our society's literary institutions.

Seriously: Now that the new Home page alerts one every time there's a new post, I almost automatically click the little link like a Pavlovian rat. (Yes, I know it should be Pavlovian dog; I just like the "rat" thing more.)

146oakes
Oct 2, 2008, 2:00 am

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147Carnophile
Edited: Oct 2, 2008, 7:00 pm

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148oakes
Oct 2, 2008, 11:12 pm

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149oakes
Edited: Oct 16, 2008, 10:04 pm

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150Carnophile
Nov 1, 2008, 11:35 am

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151Carnophile
Edited: Nov 23, 2008, 3:54 pm

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152Carnophile
Edited: Dec 10, 2008, 9:15 pm

What's this blockquote html tag?

What's this blockquote html tag? What's this blockquote html tag? What's this blockquote html tag? What's this blockquote html tag? What's this blockquote html tag? What's this blockquote html tag? What's this blockquote html tag? What's this blockquote html tag? What's this blockquote html tag?


What's this blockquote html tag? What's this blockquote html tag? What's this blockquote html tag? What's this blockquote html tag? What's this blockquote html tag?

154Carnophile
Edited: Dec 27, 2008, 3:53 pm

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155Carnophile
Edited: Dec 27, 2008, 11:15 pm

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156Carnophile
Edited: Dec 28, 2008, 5:02 pm

157Carnophile
Edited: Jan 5, 2009, 4:07 pm

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158Carnophile
Edited: Jan 5, 2009, 4:14 pm

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159Carnophile
Jan 8, 2009, 8:44 pm

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160Carnophile
Jan 16, 2009, 4:18 pm

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161Carnophile
Jan 16, 2009, 9:29 pm

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162Carnophile
Edited: Jan 16, 2009, 9:36 pm

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163oakes
Jan 17, 2009, 12:18 am

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164Carnophile
Jan 17, 2009, 7:04 am

Nah, I'm holding out for the libertarian colony in the Asteroid Belt.

165oakes
Edited: Jan 18, 2009, 7:12 pm

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166Carnophile
Jan 18, 2009, 6:46 pm

"Patrick McGoohan"?

167oakes
Jan 18, 2009, 7:13 pm

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168oakes
Edited: Jan 18, 2009, 7:54 pm

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169Carnophile
Edited: Jan 18, 2009, 10:05 pm

I only knew the broken link was suposed to be about McGoohan because it says his name on mouseover. The one that's on Polit. Conserv. is fine.

I don't see how "the cartoonist" site can complain, since they took the image from somewhere else. I mean, they must have; they're obviously not the original TV station that aired the series.

IIRC, some people object to hotlinking because it affects their bandwith charges fom their hosting service.

170Carnophile
Jan 20, 2009, 5:54 pm

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171Carnophile
Edited: Jan 30, 2009, 10:45 pm

for all their achievements in the end they know their place. (Heinlein's women have a tendency to fall for the strong hero who treats them like a child).

?

I can’t think of what you mean. Perhaps you’re thinking of some of his early stuff? If he showed women in subservient roles in 1940, I think he can be forgiven; we are all creatures of our time. Anyway, cite some examples, please.

The Justifiable Rape thing is in questionable taste, though he obviously meant it as a joke, but the man wrote - what? 3/4 of a million? (just guessing here) -words in his career. Let's not take that as representative.

So yes, they do know their place. Deety Burroughs is a math genius, not to mention karate expert, superb computer programmer, etc. Friday is a secret agent who gets through every problem in her rough-and-tumble world due to the fact that she’s smarter, stronger, faster, and just generally...better than everyone else. Hazel Stone is a revolutionary who helped overthrow Luna’s oppressive government - when she was just a kid! The girl in The Menace From Earth is studying to be a spaceship designer. Star in Glory Road is the Empress of the Galaxy. Dagmar from Tertius (Time Enough for Love and sequels) is a genetic engineer. Do I really have to continue? Etc.

Against allllllllll this we have...what? That Heinlein’s women occasionally cry on a man’s shoulder? What, that’s not realistic? Oh my God! In between being a math genius, computer genius, kick-ass karate expert, playing hockey better than Wayne Gretsky, etc., Deety Burroughs cries once (or twice, whatever)! Obviously Heinlein’s condescending toward women!

A common theme is emerging here. Clearly some people have a deep, overwhelming need for Heinlein to have been a male chauvinist, and they are firmly determined to ignore what the man actually wrote to get to that desired conclusion. Odd.

172oakes
Feb 6, 2009, 7:03 am

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173oakes
Edited: Feb 7, 2009, 12:12 am

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174oakes
Edited: Feb 18, 2009, 2:51 am

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175Carnophile
Edited: Feb 26, 2009, 1:32 pm

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176Carnophile
Feb 26, 2009, 1:32 pm

It's Obama's fault

Sorry this is late; the clipping was buried under some other stuff.

From an AP report Jan 31:
At least 42 people have died...and conditions are worsening in many places days after an ice storm knocked out power to 1.3 million...Local officials were growing angry with what they said was a lack of help from the state (i.e., Kentucky) and the Federal Emergency Management Agency.
In Grayson County, emergency management director Randall Smith said...FEMA has been a no-show so far.
FEMA spokeswoman Mary Hudak said some FEMA personnel already were in Kentucky working in the state’s emergency operations center and that more would be arriving in coming days.*
Meanwhile, the death toll was rising...
* CNS chimes in: “But, according to (Whitehouse spokesman Nick) Shapiro, Acting Federal Emergency Management Agency (FEMA) Administrator Nancy Ward did not arrive in Kentucky until Feb. 4 – 10 days after the Jan. 26 storm struck.”

As we all learned from Hurricane Katrina, if anyone dies in a natural disaster it’s the President’s fault. Also, if FEMA doesn’t instantly solve all problems it’s the President’s fault.

Lefties, start your “That’s totally different!” argument

3...
2...
1...

now:

177oakes
Feb 26, 2009, 2:18 pm

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178Carnophile
Feb 26, 2009, 4:53 pm

Ha!

179oakes
Edited: Feb 28, 2009, 8:45 pm

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180Carnophile
Mar 8, 2009, 9:44 am

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181Carnophile
Mar 10, 2009, 1:32 pm

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182Carnophile
Edited: Mar 10, 2009, 4:06 pm

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183timspalding
Mar 10, 2009, 4:33 pm

This message has not been deleted.

184Carnophile
Mar 10, 2009, 9:13 pm

I don't belive you about that. I think you probably DID delete it, then reinstated it. Those letters look as if they've been handled a lot.

185oakes
Mar 16, 2009, 11:02 pm

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186Carnophile
Mar 18, 2009, 8:13 pm

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187oakes
Mar 19, 2009, 12:36 am

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188Carnophile
Mar 19, 2009, 10:55 am

Copying me, eh? My intellectual property lawyer will be contacting you soon.

189oakes
Edited: Mar 19, 2009, 1:38 pm

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190oakes
Mar 22, 2009, 4:55 pm

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191oakes
Mar 23, 2009, 2:04 am

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192Carnophile
Mar 23, 2009, 5:28 pm

What? No! Crap, did I miss something?

Is it still 42?

193oakes
Mar 26, 2009, 2:29 pm

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194Carnophile
Mar 26, 2009, 2:33 pm

...and only a test. In the event of a real emergency, the attention signal you just heard would have been followed by...

195oakes
Mar 26, 2009, 10:29 pm

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196Carnophile
Mar 27, 2009, 8:01 am

So even nuclear war would have an upside!

197oakes
Edited: Mar 28, 2009, 10:51 pm

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198oakes
Mar 28, 2009, 10:51 pm

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199Carnophile
Mar 29, 2009, 8:47 am

I grow my own theology under the UV lights in my closet. But thanks!

200oakes
Mar 31, 2009, 2:08 am

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201oakes
Edited: Apr 1, 2009, 12:36 am

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202Carnophile
Edited: Apr 2, 2009, 8:50 pm

A picture of Osama bin Laden?! What happened to the science fiction chick with the big tits?

203Carnophile
Apr 8, 2009, 5:50 pm

Testing underline tag.

204oakes
Apr 9, 2009, 3:10 am

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205Carnophile
Apr 9, 2009, 7:22 am

Sorry, Oakes, but I am not in the market for a bin laden trading card.

However, I must concede your point about tits not being everything. I have to, because you simply have reality on your side.

There is also ass.

206oakes
Apr 9, 2009, 11:56 pm

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207Carnophile
Apr 11, 2009, 6:55 pm

Testing various key combinations

♥☺☻♦♣♠•◘○

208Carnophile
Apr 11, 2009, 6:56 pm

Cool. Alt + some number generates these images. Oakes, do you know the key combo for a big pair of tits?

209oakes
Edited: Apr 18, 2009, 3:52 pm

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210Carnophile
Jul 20, 2009, 5:23 pm

♪ Ma ma se
ma ma sa
ma-ma coo sa ♫

♪ ♫ Ma-ma se
ma-ma sa
ma-ma coo-sa! ♫

211Carnophile
Jul 20, 2009, 5:24 pm

♪ ♪ ♫ THE HILLS ARE ALIVE......
WITH THE SOUND OF MUUUUUUUUUUUUUUUUUSIC! ♫ ♪ ♫

212oakes
Jul 20, 2009, 7:42 pm

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213Carnophile
Jul 20, 2009, 8:57 pm

Just hit the "Caps lock" button and all the letters will be in caps!

Oh, wait, you meant the musical notes! Alt+ 13 does the single one ♪ and Alt+14 does the double one ♫. Pretty cool, huh! I can't wait until I get a chance to use it.

Note: Oddly, it only works when I press the numbers on the numeric part of the keypad; if I use the numbers above the letters on my keyboard nothing happens.

214Carnophile
Edited: Jul 24, 2009, 4:24 pm

>65 timspalding: “Where have you been the last 40 years? That's generally how ethics laws are written.”

I didn’t say anything about the law. I was talking about whether it warrants an investigation by the standard of basic decency.

But since you’re interested in the legal aspects of this...

From the Alaska ethics link in 66:
(b) Unethical conduct is prohibited, but there is no substantial impropriety if, as to a specific matter, a public officer's...
(2) action or influence would have insignificant or conjectural effect on the matter.
There it is in black and white: Conjecturing that a crime might have been committed is explicitly excluded from being considered an ethics violation.

Furthermore,
Sec. 39.52.110. Scope of code.
(a) The legislature reaffirms that each public officer holds office as a public trust, and any effort to benefit a personal or financial interest through official action is a violation of that trust.
Regarding her defense fund, Palin is not even accused of taking any official action to benefit those who donated. Thomas Daniel, the author of the report the AP obtained, has said that her merely being helped pay her legal bills is in and of itself an ethics violation...contradicting the clear language in Alaska ethics law.

215Carnophile
Edited: Jul 30, 2009, 5:56 pm

This message has been deleted by its author.

216oakes
Edited: Aug 2, 2009, 2:13 am

This member has been suspended from the site.

217oakes
Aug 2, 2009, 2:21 am

This member has been suspended from the site.

218Carnophile
Aug 2, 2009, 8:32 am

A Smith & Wesson beats four deletes.

219oakes
Sep 15, 2009, 10:33 pm

This member has been suspended from the site.

220oakes
Edited: Sep 19, 2009, 3:07 am

This member has been suspended from the site.

221Carnophile
Edited: Sep 25, 2009, 2:00 pm

This message has been deleted by its author.

222Carnophile
Sep 30, 2009, 11:31 am

Many left-leaning commentators, both in LibraryThing and in the broader world, have been asserting that Community Reinvestment Act (CRA) loans have not been especially poorly performing. Some Congressional testimony that cites excessively lossy CRA loans. This is the testimony of Edward J. Pinto - a former executive at Fannie Mae - before the House of Representatives September 16, 2009.
His entire testimony is quite damning, but among other things:
Third Federal Savings and Loan’s (Cleveland) has a 35% delinquency rate on its “Home Today” loans versus a rate of 2% on its non-Home Today portfolio. Home Today is Third Federal’s CRA lending program...

And:
Bank of America noted on its Q3:08 earnings call with equity analysts that while its CRA loans constituted 7% or $18 billion of its owned residential mortgage portfolio, they represented 29% of net losses.

223Carnophile
Edited: Oct 1, 2009, 12:48 pm

Of course, two banks do not support a generalization by themselves, so I want to discuss two studies that used broad data sets. On one side we have the Federal Reserve System, arguing in a 2008 study that CRA loans are not particularly problematic. On the other side we have... the Federal Reserve System, arguing in a 2000 study that CRA loans are particularly problematic. Comparing the two studies is most instructive, but before I get to that I want to put forth some thoughts on the Fed’s credibility.

The Fed is credible when it is not embroiled in a political matter and when it has no incentive to engage in, pardon the bluntness, bureaucratic ass-covering.

(1) On politics, recall the notorious Boston Fed study that used falsified data. The authors, as far as I know, never retracted their conclusions even when it was shown that the “data” that produced those conclusions were nonsense. The Fed is a creation of Washington and is, not surprisingly, a political beast. As Mr. Dooley famously said, “Ben Bernanke follows the election returns.”

(2) Bureaucratic ass-covering: The Fed was one of the principal enforcers of the CRA and so of course, now that it has become a scandal, would try to exonerate itself. This is hardly the first time a defendant has said “I didn’t do it!” In this light, it is fascinating to see what the Fed had to say about the CRA before it became a scandal and they had any incentive to try to minimize the problem.

224Carnophile
Edited: Oct 1, 2009, 1:01 pm

The Fed's 2008 study that seemed to exonerate the CRA focused solely on subprime CRA loans, not all CRA loans.

This is vital to generating the desired conclusion, because, in Pinto's House testimony (link above) he mentions that most CRA loans weren’t classified as subprime, even though they should have been by normal lending standards. The difference is huge:
Ninety percent of CRA lending was not classified as high-rate subprime, even though much of it had subprime and other high credit risk characteristics: This is because CRA lenders generally, along with Fannie and Freddie (the GSEs), did not classify CRA and affordable housing loans that had high risk characteristics (i.e. low FICOs, high LTVs, or high debt ratios) as subprime so long as they did not contain other features such as higher fees or higher rates, interest only or negative amortization, or low initial payment features with adjustable interest rates. Under this narrow and misleading definition, only an estimated 10% of CRA lending ended up being classified as subprime. Ironically, the reason that these were not high-rate loans was that the big banks and the GSEs were subsidizing the rates, as recent events have painfully demonstrated.
And the Fed’s definition of “subprime” in its 2008 study is (drum roll): Loans that had a high interest rate!

So the Fed excluded 90% of the problem from its study, then triumphantly announced that there was no problem!

Actually, that wasn’t good enough for the Fed, they go on to say that subprime loans in CRA areas do slightly better than those in areas just above the CRA income level.

Pinto demolishes this approach in his first footnote. There, he gives an example of how, if a bank’s lending wasn’t perceived as widespread enough by “community activists,” they would pressure it to expand its lending to more areas, never mind whether the zip codes were CRA zip codes.
Also, the Fed’s methodology of comparing lending in areas with incomes just above, and those with incomes just below, the CRA threshold doesn’t make much sense anyway. After all, income can be measured in various way and fluctuates from year to year. Is a bank going to play it right up the line, or are they going to play it safe and go over the line a little? Come on. This year ZIP code #1 is just above the threshold of the CRA. But next year its income could be lower and if we’re not lending enough in that area we’ll be out of compliance with the law! Yikes. So this methodology seems reasonable on the surface, but really doesn’t make much sense if you think about it.

Pinto was, by the way, an executive at Fannie Mae. So if anything, he has incentive to try to exonerate them.

What did they Fed have to say in 2000, before there was a scandal about lax lending standards? A rather different account.

The CRA at the Fed's Board of Governors: http://www.federalreserve.gov/boarddocs/surveys/craloansurvey/summary2000.pdf contains a summary. The summary is damning in two ways:

First, it finds that CRA loans did, in fact, perform worse than non-CRA loans.

Second, it finds the discrepancy is worse for larger banks: “a greater proportion of large banking institutions report their CRA-related home purchase and refinance lending is either marginally unprofitable or unprofitable than medium- or smaller-sized institutions.” Why does this matter? Because a few years later there was a regulatory shift to enforce CRA more strongly for larger banks! (*) It looks like larger banks did significantly worse with their CRA loans, and then the govt made it worse by strengthening the enforcement for those very banks!

Some details:
If you go to figures 1a - c, you can see the deleterious effect of CRA loans. Figure 1c reports that 56% of reporting banks found that CRA loans performed about the same and 44% (=19% + 25%) found they performed worse. However, as the Fed itself says in several places in that document, loans by institution aren’t necessarily the best measure anyway. Loans by dollar is a better metric. E.g., it silly to compare an FI that made 1,000 CRA loans and reported they performed poorly to one that made 1 CRA loan and reported it did fine, and then conclude, “Fifty percent of lenders say CRA loans were fine.” As an example, this quote from the study: “63 percent of the CRA dollars originated in 1999 were originated by respondents that report that CRA-related one- to-four-family home purchase and refinance lending is less profitable than other lending, higher than the 44 percent of institutions that report that CRA-related lending is less profitable on a per institution basis.” (Emphasis added.)

Not surprisingly, large lenders accounted for more dollars of CRA lending than small lenders. And this matters, because again, larger institutions had significantly worse experience with CRA loans than smaller ones.

Figure 2 present results by dollar instead of by lending institution and the results are even worse: only about a third (36%) of CRA dollars were “about as profitable” as non-CRA residential lending. The rest were less profitable.
Chart 8b: Only 42% of CRA lending dollars were profitable!
(If the metric is institutions (chart 8a), the figure is even worse: Only 29% of institutions had CRA lending programs that were profitable! Ouch! But I think dollars lent is a better metric, so let’s go with 42%.)

* John Carney, “The Phony Time-Gap Alibi For The Community Reinvestment Act” says the following. The first paragraph looks good for liberals, but keep reading to the end:
In early 2005, largely at the behest of the banking sector, the Office of Thrift Supervision implemented new rules that were widely perceived as weakening the CRA. Supervision of banks with under $1 billion in assets was loosened, and larger banks were allowed to voluntarily reduce the amount of regulator scrutiny of their “investment” and “service”––two long-standing categories of assessment under the CRA.
This had two unintended consequences that would later prove to be very costly. In the first place, it increased CRA scrutiny of larger banks, who were now the main focus of regulators. This put even more pressure on the banks to make CRA loans.

225Carnophile
Edited: Oct 4, 2009, 4:37 pm

Plus, let's face it, Bernanke doesn't have any tits, let alone nice ones.

226oakes
Oct 4, 2009, 9:13 pm

This member has been suspended from the site.

227oakes
Oct 4, 2009, 9:13 pm

This member has been suspended from the site.

228oakes
Oct 4, 2009, 9:14 pm

This member has been suspended from the site.

229Carnophile
Oct 5, 2009, 3:24 pm

LOL! You are officially the Einstein of T&A limericks!

230oakes
Edited: Oct 15, 2009, 11:18 pm

This member has been suspended from the site.

231oakes
Oct 15, 2009, 11:26 pm

This member has been suspended from the site.

232Carnophile
Oct 16, 2009, 2:42 pm

You'd probably find that you'd listen to yourself with a more open mind if you weren't insulting yourself with that condescending tone.

233Test12345678
Oct 21, 2009, 11:03 pm

This member has been suspended from the site.

234oakes
Oct 24, 2009, 6:01 pm

This member has been suspended from the site.

235oakes
Edited: Oct 24, 2009, 11:25 pm

This member has been suspended from the site.

236Carnophile
Oct 25, 2009, 11:10 am

This message has been deleted by its author.

237oakes
Oct 25, 2009, 6:34 pm

This member has been suspended from the site.

238oakes
Oct 26, 2009, 9:08 am

This member has been suspended from the site.

239oakes
Edited: Nov 8, 2009, 7:49 pm

This member has been suspended from the site.

240oakes
Nov 8, 2009, 11:17 pm

This member has been suspended from the site.

241oakes
Nov 9, 2009, 2:55 am

This member has been suspended from the site.

242oakes
Nov 10, 2009, 5:48 am

This member has been suspended from the site.

243oakes
Edited: Nov 12, 2009, 10:08 pm

This member has been suspended from the site.

244oakes
Nov 13, 2009, 11:35 pm

This member has been suspended from the site.

245oakes
Edited: Nov 21, 2009, 6:49 pm

This member has been suspended from the site.

246oakes
Dec 7, 2009, 5:09 am

This member has been suspended from the site.

247oakes
Edited: Dec 10, 2009, 4:06 pm

This member has been suspended from the site.

248timspalding
Dec 9, 2009, 10:33 pm

Serious Q: (Yes, I know you're not done.)

Is it possible, through breeding, to move an animal to (one) definition of speciation—inability to breed with other members of the (former) species? That is, can you breed a dog until it's not really a dog anymore—it can't breed with other dogs? Or, for example, can you breed A and B and get a C that can only breed with other Cs? (Donkeys don't count as they're sterile.)

I suspect not, although it's a question of degree. You are, however, at some point denying degrees.

249timspalding
Edited: Dec 18, 2009, 2:22 pm

This is a

Vote: Do you like touchstones?

Current tally: Yes 4, No 1
and this isn't.

250etrainer
Dec 29, 2009, 3:44 pm

♪♫♂♀☺☻♥♦♣♠•◘○◙♂♀♪♫☼►◄↕‼¶§▬☻↨↑↓→←∟↔▲▼ !"#$%&'(

I just had to try some of these.

251oakes
Feb 5, 2010, 2:09 pm

This member has been suspended from the site.

252oakes
Feb 5, 2010, 8:22 pm

This member has been suspended from the site.

253Carnophile
Feb 5, 2010, 8:56 pm

(Sigh.) Oakes, you obviously don't understand anything about the decentered semiotics of the Lacanian meta-context. Duh.

254oakes
Feb 5, 2010, 9:57 pm

This member has been suspended from the site.

255Carnophile
Feb 19, 2010, 11:24 pm

256Carnophile
Feb 19, 2010, 11:29 pm

I have several things to say.

• This is the first one.
• This is the second one.
• This is the third one.

You who have eyes, see and understand.

A bullet point is Alt + 7 on the keypad.

257oakes
Feb 21, 2010, 5:42 pm

This member has been suspended from the site.

258oakes
Edited: Feb 26, 2010, 12:08 pm

This member has been suspended from the site.

259Carnophile
Feb 21, 2010, 8:02 pm

Purchased a widescreen monitor, have we?

260oakes
Feb 21, 2010, 8:11 pm

This member has been suspended from the site.

261timspalding
Feb 23, 2010, 9:31 pm





262Carnophile
Feb 25, 2010, 5:25 pm

Mark Twain

Michael Swanwick

263Carnophile
Feb 26, 2010, 11:00 am

>25 timspalding:
I've read a lot of Swanwick. I don't recall him being especially left-wing. Less right-wing than most US sf authors, certainly. But not left-wing...

♪ ♪ ♫ Nothing to lose but their chaaaaaaaaaaaaaaaaains! ♫ ♪
♪ ♫ ♪ Nothing to lose but their chaaaaaaaaaaaaaaaaains! ♫

264Carnophile
Feb 26, 2010, 12:29 pm

This message has been deleted by its author.

265Carnophile
Feb 26, 2010, 12:30 pm

This message has been deleted by its author.

266Carnophile
Edited: Mar 1, 2010, 10:32 am

This message has been deleted by its author.

267Carnophile
Mar 1, 2010, 10:34 am

This message has been deleted by its author.

268Carnophile
Edited: Mar 1, 2010, 10:46 am

This post has NOT been deleted by its author. Go about your business. These are not the droids you're looking for.

269Carnophile
Mar 2, 2010, 9:47 pm

This message has been deleted by its author.

270Carnophile
Mar 2, 2010, 9:50 pm

Look, you can’t just go around violating the Second Amendment. The Constitution applies to your state just as much as it applies to the other 50 states. Wait a minute. According to this source, “Canada” is actually a separate, independent country. Oh, that is so adorable! Can I ask you to pose in front of that fountain? Okay, now just hold up that Vive le Québec libre sign a little higher. No, don’t shake your fist and scowl; it ruins the local color... Perfect! (Click.) Thanks!

271timspalding
Mar 2, 2010, 10:05 pm

I love finding stuff out of context—with no context I can imagine!—here :)

272Carnophile
Mar 2, 2010, 10:11 pm

Yeah, this is a great little thread for that. You never know what you'll get.

Coming up next: A discussion of Inuit epistemology, with an application to golf.

273timspalding
Mar 2, 2010, 10:12 pm

Vive le Nunavut!

274Carnophile
Edited: Mar 5, 2010, 1:15 pm

This message has been deleted by its author.

275timspalding
Mar 16, 2010, 6:44 pm

test

276Carnophile
Mar 16, 2010, 6:46 pm

quiz

277Carnophile
Mar 24, 2010, 3:49 pm

Hmmm, a careful reading indicates Obama didn’t actually predict that prices would fall. From an AP piece dated today:
Here’s a look at some of the myths and realities...Health care overhaul is going to lower your health insurance premiums.
Obama says that once new competitive insurance markets open for business, in 2014, individuals buying coverage comparable to what they have today will pay 14-20 percent less. Family coverage costs about $13,400 a year, so that could be real money.
But the president's assurance is based on a selective reading of a Congressional Budget Office report that found most individuals would probably buy better, more expensive coverage than what's available today.
And Obama skips over an important caveat: The budget office didn't say premiums would be lower than currently. It said premiums for some people would be lower than they would have been without the bill. Premiums for others would be higher.
So Obama has asserted that prices would be below what they would be without the bill. Notice the subtle distinction: It allows for prices to rise, but for him to say, “Well, they would have risen even more if this hadn’t passed.”

278Carnophile
Apr 4, 2010, 8:29 am

This message has been deleted by its author.

279Carnophile
May 4, 2010, 10:52 pm

Ponies are passe

We’ve moved on to unicorns that are actually a fusion powered nuclear robots able to communicate with your nanobot techno-virus using an ad-hoc short range wireless network.

Can the TPTB rig up one of these on the subway ride home?

280Carnophile
Edited: May 10, 2010, 9:49 pm

>6 Eurydice:
This is why reductionism, even if true - which I think it is - isn't helpful most of the time. You might be able, in principle, to explain the workings of a firm by noting the position and velocity of every single subatomic particle in any piece of matter in the firm (shut up, Dr. Heisenberg) and whatnot. But even if you could, that's not useful in explaining other firms' behavior. It's not a theory of the firm, in other words.

It hits the wrong level of abstraction, the right level being the one that includes most of what you want to explain while still being simple enough to be useful.

Here's a continuum:

Truth ------------------------------------------------------------------------- Usefulness.

You get to pick ONE point on it.

281Carnophile
Edited: May 21, 2010, 8:06 am

This message has not been deleted by its author. Or maybe it has. It's hard to tell sometimes. We should embrace ambiguity.

282Carnophile
May 26, 2010, 5:17 pm

>46 timspalding: Oh dear, Carnophile, you do seem to be rather confused here. What you call the 'body of leftist sexual harassment law' is there to protect women from men (and men from women) who don't know where to draw the line between the relatively innocent (though frequently annoying) sexual banter that goes on in the workplace and actual bullying or sexual assault.

Oh dear, Booksloth, one of us is rather confused here, and it isn’t me. Legally, a lot of things are sexual harassment, not all having to do with people “not knowing where to draw the line between relatively innocent sexual banter” and other things.
Trading promotion for sexual favors for instance. It is not as though anyone mistakes this for “innocent sexual banter.”

Sexual harassment includes many things... Among others:
 Actual or attempted rape or sexual assault.
 Unwanted pressure for sexual favors.
 Unwanted deliberate touching, leaning over, cornering, or pinching.
 Unwanted pressure for dates.
 Neck massage.
 Touching an employee's clothing, hair, or body.

Here we have:
The U.S. Supreme Court has simplified matters somewhat by explaining that there are two basic types of unlawful sexual harassment. The first type involves harassment that results in a tangible employment action. An example would be a supervisor who tells a subordinate that he or she must be sexually cooperative with the supervisor or he or she will be fired, and who then indeed does fire the subordinate for not submitting.
So you’re saying that people who do this just don’t know better? Wow, interesting point of view. So I was right, sexual harassment law is unnecessary. All we have to do is tell the perpetrators that their behavior is unwelcome, and they’ll snap into shape. “I just didn’t know that telling her to put out or be fired was unwelcome!” they’ll say regretfully.

And note:
The conduct of the harasser must either be severe or it must be pervasive to be sexual harassment. A single incident is probably not sexual harassment unless it is severe. For example, a single incident of rape or attempted rape would probably be sexual harassment (it would also violate criminal laws).
I will also note - though at this point driving the knife in even deeper almost seems mean - that even if you were right, the point I made can be restated by simply removing “sexual harassment law” and substituting whatever is appropriate; “rape law” if you’re talking about rape, “fraternization” law if you’re talking about fraternization, etc.

283timspalding
May 27, 2010, 4:14 pm

This message has been deleted by its author.

284timspalding
May 27, 2010, 4:22 pm

This message has been deleted by its author.

285oakes
Jun 17, 2010, 10:37 am

This member has been suspended from the site.

286Carnophile
Edited: Jun 25, 2010, 2:34 pm

This is bugging me. If you go here you can see images from the CD cover of Michael Jackson's Off the Wall.
If you scroll through the images at the top you can see one in which he's standing in some sort of dancing pose against a brick background, holding a silvery-looking object in his right hand.

What the hell is he holding? My first reaction was "cell phone."

But this album came out in 1979.

287Carnophile
Edited: Aug 13, 2010, 8:07 am

As a thought experiment, imagine putting a copy of Olaf Stapledon's Last and First Men in a box with a bit of cesium and a photodetector. If you open the box after an hour...will the book still suck?

288oakes
Edited: Aug 30, 2010, 11:32 pm

This member has been suspended from the site.

289oakes
Aug 31, 2010, 6:40 pm

This member has been suspended from the site.

290Carnophile
Sep 1, 2010, 7:31 pm

You're such a tease with those deleted messages, Oakes. Come on, show off the full monty!

291Carnophile
Edited: Sep 5, 2010, 4:43 pm

Testing the sup tag for superscripts:

102.

292Carnophile
Sep 5, 2010, 4:44 pm

The peanut gallery wants superscripts!

1002.

293Carnophile
Sep 5, 2010, 4:45 pm

The people demand superscripts!

102.

294Carnophile
Sep 5, 2010, 4:47 pm

Tim, how am I going to impress the hoi polloi if I accidentally write 102 when I mean to write 10 squared? Oh, the mortification!

295Carnophile
Sep 5, 2010, 4:48 pm

Note: Foregoing just a joke. Don't spend your time on this; I'd rather have you work on the all-important single quotes feature.

296Carnophile
Sep 16, 2010, 10:20 pm

This message has been deleted by its author.

297Carnophile
Sep 16, 2010, 10:32 pm

Testing the vote tag:

Vote: Tim Spalding should cover himself in whipped cream and perform Jimi Hendrix's version of the national anthem on the top of the Empire State Building

Current tally: Yes 14, No 5, Undecided 5

298Carnophile
Sep 16, 2010, 10:32 pm

Now that is just cool.
(The voting, not the idea of a whipped cream guitar solo.)

299Carnophile
Edited: Oct 14, 2010, 12:30 pm

This message has been deleted by its author.

300Carnophile
Oct 29, 2010, 5:57 pm

This message has been deleted by its author.

301Carnophile
Nov 2, 2010, 11:01 pm

This message has been deleted by its author.

302Carnophile
Nov 7, 2010, 10:39 pm

This message has been deleted by its author.

303Carnophile
Nov 8, 2010, 9:38 pm

This message has been deleted by its author.

304Carnophile
Edited: Nov 8, 2010, 9:42 pm

305Carnophile
Nov 10, 2010, 9:23 pm

What I really wanna know is who voted yes on the guitar solo thing.

306Carnophile
Edited: Nov 16, 2010, 9:53 pm

This message has been deleted by its author.

307Carnophile
Edited: Nov 16, 2010, 10:03 pm



Here is a caption.

308Carnophile
Feb 2, 2011, 5:24 pm

Testing the capital letters:

LUUUUUUUUUUUUUUUUUNAAAAAAAAAAAAAAAR!

309Carnophile
Edited: Feb 25, 2011, 2:04 pm

310Carnophile
Edited: Mar 28, 2011, 9:41 pm

Figures from the Commerce Department’s Bureau of Economic Analysis, March 28, 2011:

GDP growth in 1940s recession:

1945: -1.1%
1946: -10.9% (Yes, that’s almost minus eleven percent!)
1947: -0.9%

So GDP in 1947 = (GDP in 1944)*(0.989)(0.891)(0.991) = 87.3% of 1945 GDP. So altogether the decrease in GDP over that 3-year period was 12.7%.

For the recent recession GDP growth was 0.0% in 2008 and –2.6% in 2009. So in that recession the total decrease in output was –2.6% in one year.

Is unemployment you favorite recession metric? In the recession of the early 1980s unemployment was above 10% for ten consecutive months, and hit 10.8 for two consecutive months. In the recent mess it was only over 10% for one month (it was 10.1%).

311Carnophile
Apr 10, 2011, 10:14 pm

This message has been deleted by its author.

312Carnophile
Apr 27, 2011, 5:17 pm

This message has been deleted by its author.

313Carnophile
Edited: May 27, 2011, 4:40 pm

Some GAUSS code that simulates a not-particularly-original poster to one forum:

new;
output file=c:\random.out reset;

"";
"All I'm saying is that";

xrv=rndu(1,1);
x=xrv*4;
if x(less than)1;
"Coulter";
elseif x(less than)2;
"Limbaugh";
elseif x(less than)3;
"Beck";
else;
"the right wing";
endif;

"is extremely";

yrv=rndu(1,1);
y=yrv*3;
if y(less than)1;
"stupid.";
elseif y(less than)2;
"dishonest.";
else;
"nasty.";
endif;

"";

"Why are you";

urv=rndu(1,1);
u=urv*4;
if u(less than)1;
"denying that?";
elseif u(less than)2;
"lying about what I said?";
elseif u(less than)3;
"so eager to excuse monumental stupidity?";
else;
"unable to see that?";
endif;

"";

"I'm just";

zrv=rndu(1,1);
z=zrv*3;
if z(less than)1;
"exposing lies.";
elseif z(less than)2;
"pointing out stupidity.";
else;
"telling important truths.";
endif;

314Carnophile
Edited: May 26, 2011, 10:40 am

asefjkgyusefuj ssjlsfjhbvasefjhv seafjsAvhj s asd

Sorry, there's a typo there. It should say:

asefjkgyusefuj ssjlsfjhbvasefjhv seafjsBvhj s asd

315BlackSheepHwGuild
May 26, 2011, 8:48 pm

How about a Jimi Hendrix version of "To Anacreon in Heav'n" for us true folkies? Whipped cream, Empire State Building optional in favor of archived online footage.

316Carnophile
May 26, 2011, 10:31 pm

Loving the fact that the votes in #297 are now 10 Yes and 5 No (with 3 undecided). Start learning guitar, Tim.

317Carnophile
Edited: Jun 7, 2011, 4:37 pm

Testing the editing function.

This post was never edited.

Except that it actually was. Where's the "This post was edited" notice?

EDIT: Oh, at the top right.

318Carnophile
Edited: Jun 7, 2011, 5:21 pm

Playing around with new messaging system.

post 314 is a brilliant post.

319timspalding
Jun 15, 2011, 11:56 am

Testing.

320Carnophile
Edited: Jun 24, 2011, 5:57 pm

This message has been deleted by its author.

321Carnophile
Edited: Jun 24, 2011, 6:05 pm

<
dude
>

To display a "less than" sign, type an ampersand, then lt, then a semicolon. To display a "greater than" sign, type an ampersand, then gt, then a semicolon.

322Carnophile
Edited: Jul 9, 2011, 8:04 pm

This message has been deleted by its author.

323Carnophile
Edited: Jul 11, 2011, 3:41 pm

This message has been deleted by its author.

324Carnophile
Edited: Aug 19, 2011, 1:12 pm

This message has been deleted by its author.

325Carnophile
Edited: Sep 18, 2011, 2:29 pm

This message has been deleted by its author.

326Carnophile
Oct 1, 2011, 6:55 pm

Testing the at sign thingy:

@Carnophile

@timspalding

327Carnophile
Edited: Feb 2, 2017, 7:23 pm

Hi!
This topic was continued by Touchstone Test Group Message Board, cont'd.