The extreme heat that’s been roasting the eastern U.S. is only expected to get worse, and residents are bracing themselves for temperatures near and above boiling point.
Weather service heat warnings and advisories have been issued Friday from Ohio to Maine.
The high temperatures and smothering humidity will force up the heat indexes. Boston’s 99 degrees on Friday could feel like 105 degrees; Philadelphia’s 102 degrees like 114 degrees and Washington, D.C.’s 103 degrees may seem the same as a melting 116 degrees.
It’s not the heat, it’s the stupidity.
Less than a week after the return of the Atlantis orbiter marked the end of the U.S. space shuttle program, the crowded streets and textile factories of Moscow erupted in celebration as the USSR officially declared victory over the United States in the Space Race.
"At long last, our great Soviet republic has conquered the West and achieved technological and ideological superiority over America," Kremlin representative Sergei Voronin said Wednesday, announcing the achievement to an audience of joyous beet farmers and steel factory laborers assembled in Red Square. "We have established our unrivaled dominion over the stars and planets and stand now at the dawn of a new era, an era in which the tenets of communism shall echo loudly across the Earth’s entire expanse."
So the debt limit debate has come to this: John McCain, who you may recall was the GOP’s 2008 standard bearer, is now openly accusing conservatives of actively misleading America with their completely unrealistic demands, which he labeled “deceiving” and “bizarro.”
In a seminal moment in this debate, here’s some video of McCain on the Senate floor today, unleashing an angry tirade at conservatives who are still holding out for a balanced budget amendment as part of any compromise on the debt ceiling. McCain accused them of “deceiving” America into believing such a thing can pass the Senate:
The Department of Justice is preparing a lawsuit against Wells Fargo, the nation’s largest home mortgage lender, for allegedly preying upon African American borrowers during the housing bubble and steering them into high-cost subprime loans, according to three people with direct knowledge of the probe.
With lawmakers still at an impasse over increasing the debt ceiling, a special team of 40 eighth-grade civics teachers was air-dropped into Washington earlier today in a last-ditch effort to teach congressional leaders how the government’s legislative process works. “We started them off with the basics, like the difference between a senator and a representative, and then moved on to more complex concepts, like what a resolution is,” Bozeman, MT social studies teacher Heidi Rossmiller told reporters as all 535 members of Congress copied down the definition of “checks and balances” from a whiteboard in the House chamber. “It’s been a bit of an uphill battle, since most of them seemed to have no real sense of how or why a bill is passed, and Sen. [Harry] Reid [D-NV] had to come up to me during a break and ask, ‘Ms. Rossmiller, what happens if Congress can’t reach a compromise?’ But hopefully it will all start to sink in soon.” At press time, an unruly House Speaker John Boehner (R-OH) had noisily stormed out of a lecture on bipartisan cooperation, claiming it was “too hard.”
With the nation’s attention diverted by the drama over the debt ceiling, Republicans in the House of Representatives are loading up an appropriations bill with 39 ways — and counting — to significantly curtail environmental regulation.
The unusual breadth of the attack, explained Representative Mike Simpson, a Republican from Idaho, is a measure of his party’s intense frustration over cumbersome environmental rules.
“Many of us think that the overregulation from E.P.A. is at the heart of our stalled economy,” Mr. Simpson said, referring to the Environmental Protection Agency. “I hear it from Democratic members as well.”
Really? So the US economy is in the shitter because you can’t mine the Grand Canyon for uranium? If only we had known that earlier…
The regulator for Fannie Mae and Freddie Mac sued UBS AG to recover more than $900 million of losses after the Swiss bank misled the housing agencies into buying $4.5 billion of risky mortgage debt.
Filed in the U.S. District Court in Manhattan, the complaint also said UBS failed to do adequate due diligence, and hid or misstated the quality of the underlying loans and underwriting, as well as borrowers’ ability to make payments.
Many of the loans were issued by lenders that later failed or went bankrupt, including American Home Mortgage Investment Corp, IndyMac Bancorp Inc and New Century Financial Corp.
According to the complaint, a review of 966 randomly chosen loans from two “triple-A” rated securitizations in 2006 and 2007 found that 78 percent were not underwritten properly.
By May 2011, the complaint said, these securitizations were rated “CCC” by Standard & Poor’s and “Ca” by Moody’s Investors Service, among the lowest junk grades.