Farewell. The Flying Pig Has Left The Building.

Steve Hynd, August 16, 2012

After four years on the Typepad site, eight years total blogging, Newshoggers is closing it's doors today. We've been coasting the last year or so, with many of us moving on to bigger projects (Hey, Eric!) or simply running out of blogging enthusiasm, and it's time to give the old flying pig a rest.

We've done okay over those eight years, although never being quite PC enough to gain wider acceptance from the partisan "party right or wrong" crowds. We like to think we moved political conversations a little, on the ever-present wish to rush to war with Iran, on the need for a real Left that isn't licking corporatist Dem boots every cycle, on America's foreign misadventures in Afghanistan and Iraq. We like to think we made a small difference while writing under that flying pig banner. We did pretty good for a bunch with no ties to big-party apparatuses or think tanks.

Those eight years of blogging will still exist. Because we're ending this typepad account, we've been archiving the typepad blog here. And the original blogger archive is still here. There will still be new content from the old 'hoggers crew too. Ron writes for The Moderate Voice, I post at The Agonist and Eric Martin's lucid foreign policy thoughts can be read at Democracy Arsenal.

I'd like to thank all our regular commenters, readers and the other bloggers who regularly linked to our posts over the years to agree or disagree. You all made writing for 'hoggers an amazingly fun and stimulating experience.

Thank you very much.

Note: This is an archive copy of Newshoggers. Most of the pictures are gone but the words are all here. There may be some occasional new content, John may do some posts and Ron will cross post some of his contributions to The Moderate Voice so check back.


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Tuesday, October 19, 2010

It Just Keeps Getting Worse

Commentary By Ron Beasley


Just when you thought the mortgage meltdown couldn't get any worse it did.  Over at Naked Capitalism George Washington reports that B of A has admitted that the same mortgages were sold to multiple securities. Title ownership was already next to impossible to determine - now it may officially be impossible.


When it's being openly discussed on CNBC you know the banks are in deep shit.  Here is an interesting clip with CNBC's Larry Kudlow, Barry Ritholz and Chris Whalen:

















Several interesting things to note here.



  • When Whalen tries to blame the government for this mess Ritholz sets him straight and Whalen doesn't argue.

  • Ritholz points out that it won't do the banks bottom line any good to foreclose on homes because no one in their right mind would buy them anyway.

  • While there was litttle agreement about what will happen there was no disagreement that the banks were in big trouble and about the best the banks can hope for is a GM like pre-packaged bankruptcy.

  • It's going to take years to straighten this out and the only winners will be lawyers.


And Wall Street for the first time is is paying attention.



NEW YORK (Reuters) � U.S. stocks posted their biggest loss in two months on Tuesday on fears banks might be on the hook for billions of dollars in souring mortgage bonds.




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2 comments:

  1. geoffOctober 19, 2010 at 4:54 PM

    Ah, Ron you know Mr. hope and change will, for future considerations, ensure everyone just keeps looking straight ahead. With any luck his real allies will take over your House & Senate to ensure a happy time of magical thinking in a couple of weeks. Hey I'm waiting 'til a horse is elected to your Senate followed by a POTUS that plays the violin.
    Just kidding, eh I think the horse would be a useful addition to a horse's arse institution. Hey to keep things in perspective the only excitement we a much lesser power can muster up is a fly boy Colonel, aka monster in the making, who likes to wear little girls panties he's stolen as he flies our PM & Queen around.

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  2. Ron BeasleyOctober 19, 2010 at 5:21 PM

    You no geoff two weeks ago I would have agreed with you but the extent of the fraud from the original mortgage is becoming so obvious and it is being reported in the MSM and on the financial networks will make it difficult for the government not to act as much as they might not want to. In addition this is probably about the only bipartisan issue in the country with the right, the left and the middle all wanting the bankers heads. This is out of the politicians control now.

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