text:
Fannie and Freddie: Slashing Mortgages Is Good Business
Adding an explosive new dimension to a politically charged debate on how to solve the housing crisis, the mortgage giants say that reducing the amount of money troubled homeowners owe wouldn't just keep families in their homes, it would also save Freddie and Fannie money.
Update: On Friday, following the publication of this story by ProPublica and NPR, lawmakers called on the Federal Housing Finance Administration to provide Congress with the new analyses on principal reductions by Fannie Mae and Freddie Mac. In addition, Illinois Attorney General Lisa Madigan urged FHFA to immediately implement appropriate principal reductions to home loans held by Fannie Mae and Freddie Mac.
A version of this story was co-published with NPR News and broadcast on NPR's Morning Edition.
New analyses by mortgage giants Freddie Mac and Fannie Mae have added an explosive new dimension to one of the most politically charged debates about the housing crisis: Whether to reduce the amount of money beleaguered homeowners owe on their mortgages.
Their conclusion: Such loan forgiveness wouldn't just help keep hundreds of thousands of families in their homes, it would also save Freddie and Fannie money. That, in turn, would help taxpayers, who bailed out the companies at a cost of more than $150 billion and are still on the hook for future losses.
The analyses, which have not been made public, were recently presented to the agency that controls the companies, the Federal Housing Finance Agency, according to two people familiar with the matter. Freddie Mac's meeting with the FHFA took place last week.
The decision of whether to allow such reductions rests with Edward DeMarco, the acting director of the FHFA, who has steadfastly opposed so-called principal reductions on the grounds that it's a bad business decision for the companies and would cost taxpayers money.
Many economists and policy makers contend that cutting principal — the amount of money lent to the homeowner — is one of the best solutions for keeping people in their homes and to bolster the fragile economic recovery.
But this solution has raised passionate opposition: Many borrowers who are paying their mortgages every month feel it is unfair. Why, they ask, should they have to keep paying the full amount while others who took a loan they ultimately couldn't afford or saw their house plummet in value get a break? Some economists and policy makers argue that borrowers might intentionally stop paying their mortgages to score a reduction. Indeed, the prospect that the government would help troubled homeowners was a spark that created the Tea Party movement.
The companies' new analyses were prompted by new Obama administration subsidies the government is offering Fannie and Freddie to reduce a homeowner's loan. But it's unclear whether DeMarco will take advantage of those incentives.
He declined to be interviewed for this story. But in a statement to ProPublica and NPR, DeMarco said that FHFA is assessing its position in light of the new Obama financial incentives, offered under the Home Affordable Modification Program, or HAMP. "As I have stated previously, FHFA is considering HAMP incentives for principal reduction and we have been having discussions with [Freddie and Fannie] and Treasury regarding our analysis."
Both Fannie and Freddie declined to comment.
As an independent regulator, DeMarco does not answer to the president and can make policies that the administration opposes. Obama sought to replace DeMarco, but his nominee was blocked by Republicans in the Senate, which must confirm the agency head.
As recently as Feb. 28th, DeMarco told the Senate banking committee, "Both companies have been reviewing principal forgiveness alternatives. Both have advised me that they do not believe it is in the best interest of the companies to do so."
Overall, principal reductions could help millions of borrowers who owe much more on their homes than their houses are worth, economists estimate.
And principal reductions can help lenders, because foreclosure often leads to bigger losses than reducing the amount owed. The biggest banks have long employed such reductions to curb their own losses.
The new analyses by Freddie and Fannie were done to assess the new financial incentives that the Obama administration announced in late January. ProPublica and NPR have not read the analyses, but two people described key aspects of them. The companies now find that reducing principal on troubled mortgages has a "positive net present value" — in other words, that doing it would bring in more money for the companies over the life of the loans than not doing it.
The two companies' analyses showed that upwards of a quarter million borrowers who owe more on their mortgages than their homes are worth could benefit from principal reductions. The companies would take a loss upfront, but over the long run these mortgage modifications would save the companies money because they would lead to lower default rates.
Experts have said that principal reductions are one of the best tools for helping homeowners stay in their homes.
"Principal reduction works," said Mark Zandi, chief economist of Moody's Analytics. "If someone gets a reduction in their principal amount, it gives them a real powerful hook to really fight to try to hold onto the home, even if things aren't going financially right for them."
The re-default rate for homeowners who receive a principal reduction is lower compared with the rate on other types of types of mortgage modifications, Zandi said.
Zandi estimates that principal modification could benefit 300,000 to 500,000 homeowners whose mortgages were backed by Fannie and Freddie. "And that would make a substantive difference," he says, in helping the housing market and boosting the economy.
"It saves taxpayers money and makes homeowners less likely to default," said Zandi. Given the Obama Administration's policy changes, "I'm now perplexed why DeMarco is not more fully engaged" in supporting principal reductions.
Not everyone supports principal modifications. Anthony Sanders at George Mason University says that implementing such reductions risks triggering a wave of strategic defaults, where people stop paying on their homes in order to qualify for a break. "DeMarco is absolutely right," he says.
The Obama administration's new initiative triples the subsidies. They now range from 18 cents to 63 cents on the dollar, based on conditions such as how deeply underwater a borrower is. The subsidy works out so that generally the Treasury would pick up about half of Freddie and Fannie's principal reductions, according to a person familiar with the incentives.
The subsidies are funded through HAMP, which used money from the Troubled Asset Relief Program (TARP), widely known as the bank bailout. Much of that money has not been spent.
Under DeMarco, the FHFA has allowed Fannie and Freddie to do principal forbearance, rather than principal reductions. In such a modification, borrowers' monthly payments are reduced, but they still must eventually pay back the entire loan. Critics contend that such modifications don't provide as much incentive as principal reductions for borrowers to keep paying.
Despite the new findings, it still might not make sense for Fannie and Freddie to do principal reductions. Such a program might require substantial and expensive changes to their computer and accounting systems and might distract from the core business. In his statement, DeMarco said, "FHFA's previously released analysis concluded that principal forgiveness did not provide benefits that were greater than principal forbearance as a loss mitigation tool. FHFA's assessment of the investor incentives now being offered will follow the previous evaluation, including consideration of the eligible universe, operational costs to implement such changes, and potential borrower incentive effects."
Yet even before the Obama administration's new subsidies, the FHFA's own data supported principal reductions for some borrowers, despite its opposition to using them, some argued. An American Banker analysis of the FHFA study, which the agency sent to Congress in January, suggested that principal reduction shouldn't be rejected so unequivocally.
39 comments
Whoa, there. A plan that helps homeowners whose loans were fraudulently inflated to where they can't afford them and only deals with "underwater" homes in passing? How is that even possible!?
Seriously, it's about damned time that someone figured out how to solve the problem. Clearly, DeMarco won't let it happen, since his entire focus has been helping the people who bought real estate as an investment, but at least someone has finally published the math.
It's also a sound legal analysis. These people (unlike the people making their payments every month) were victims of fraud. What do you do with victims of fraud? You go after the culprit to get their money back.
So do we continue to make up-to-date payments on these worthless homes or stop making payments in hope of principal reduction. I am still confused. I owe about 170% of the real value on my home, but it is still "my home". I contemplate walking away on a daily basis, but if I were to receive a principal reduction to any where near it's real value I would do everything I could to continue to pay off the mortgage.
I did NOT buy my home with zero down, I put 20% down and have always paid on time. If the banks are using my original value as an asset in their accounting, then we have a whole other problem and it is not mine.
Wow is this "the relief after the hardship"? Being someone whos praying and hoping for relief I have a hard time seeing how one can confuse someone who truly needs help from someone who's just gaming the system.I know firsthand how difficult it is to qualify for one of these programs all the obstacles that's put in your way. not knowing whether or not your family will be homeless from one day to the next. dealing with your family falling a part due to the stress that is so potent it that you could actually count the years you loose off of your life. consider the stakes…you could lose your home, and then not qualify for a home loan for 3 years, destroy your credit rating,and if you get evicted or locked out of your home a lot of rental agencies will not rent to you at least the rental agencies that you would consider renting from… People who's situation is in "good shape"are helped by the hamp program people who are deeply underwater there's the hamp2. People who are victims of this economy they just have to throw their families and themselves to the mercy of the big banks. how ironic the banks appealed to our sense of humanity when asking for a bail out and are so tight fisted when we ask them for their sense of humanity in bailing out home owners…who are ...too big to fail.
Is the analysis saying that it would be cheaper for taxpayers counting only the amount of bailout money going to Fannie and Freddie and disregarding the government subsidy spending on modifications not paid through those agencies? Is so that doesn't seem like valid accounting. TARP money isn't magic money. It comes from the same place all marginal spending of the government comes from: borrowing.
Jesse - thanks for your excellent work on this topic. However, the Obama nominee to replace DeMarco was offered 22 months into the new administration.
Democrats still in control of Congress would have presumably approved the Obama nominee had he been named sooner.
Obama's delay is to blame for DeMarco's toxic presence on these scene. Not "blocking" by the GOP. They were lying in wait and could have easily been outfoxed. But dallying foreclosed that opportunity.
DeMarco should have been removed immediately, or certainly within nearly two years. Major management fail by Obama, one of many on the housing front.
I'm tired of hearing help for Fanny/Freddy, FHFA loans.
What about those with loans owned by investors who won't
allow banks that service the loans, to allow refi by the owner???
Current with payments, working and underwater!
It seems that this is a lie of ProPublica and there isn't any analysis.
Who is behind NPR/Propublica?
The CEO of Freddie came out today and said that principal reductions may make sense now for the GSEs because the Treasury is going to cover part of the writedown.
But how in the heck is that saving the taxpayer money? It just shifts the loss from one pocket to the other.
On another point, the FHA has nearly as many seriously delinquent underwater loans as Fannie and Freddie. So why isn't there any conversation about the FHA reducing principal on the loans they insure?
My car is no longer worth what it was when purchased. Yet I'm still paying off the loan based on the original value. Can I get a taxpayer financed write-down? If so, do I have to miss a few payments to qualify?
Kudos Carola for putting some real perspective on the situation of being underwater! At John, just because someone is "underwater" that doesn't make them a victim of fraud and state that all of the homeowners experiencing problems with their home loans were victims is very presumptuous on your part. While Stated Income and NINA products along with ARMS resetting attributed to a large part of the Housing Fallout it is time for irresponsible borrowers to step up to the plate and own their share of the blame. Many home buyers were more concerned with having the home they wanted than actual affordability and were downright indignant at the suggestion that they lower their expectations. The very same people are the ones in foreclosure. Many fks simu lost their jobs and were unable to make their payments which led to late payments and ultimately foreclosures. Those foreclosures are what took the housing prices down causing others to be underwater. I agree with DeMarco and Stanley as we live in an "entitled" society and yes, there will be those that will want to work the system!
How about a bailout for those of us who sold our houses at the top and cashed out. Putting our hard earned equity into our retirement accounts so we could enjoy a better retirement only to see those who made bad choices on both the sell side, banksters; and unqualified homebuyers get bailouts. In the meantime, their reckless behavior has decimated my retirement account and minimized my returns with the Fed aggressively holding down interest rates so the losers can recapitalize their balance sheets while those of us who invested wisely are screwed? Just saying.
It seems to me that we all could use some sort of help one way or the other! i made a bad choice but when i contacted the Bank of America I was told that i was Irresponsible because i had no Idea what the next Ten years was going to do to me!
It seems to me that we all could use some sort of help one way or the other! i made a bad choice but when i contacted the Bank I was told that i was Irresponsible because i had no Idea what the next Ten years was going to do to me! Meaning going back ten yeard and seeing into the future! Any one have a Christal Ball that is not Broken?
Please please!!!!!!HELP…..Fl. was hit so hard that so many homes are no longer worth what people owe on them thur no fault of their own.
@mollie- Wall Street makes most of it's profits on retail investors who buy at the top of markets. That's the psychology they count on to maximize their gains. If you now find yourself underwater, you should know that you may have purchased your house so you weren't "priced out of the market". Those of us who have witnessed booms and busts recognized that a bubble was forming in the housing market. Far too many unqualified buyers were given access to loans they could not possibly pay for under normal circumstances. Now that the completely predictable correction has occurred, Bank of America's solution is proper IMHO. Buyers who bought more than they could actually afford have to accept responsibility for their decision. Either walk away from the house or rent it back from the lender. In this case renting from BoA makes sense for both sides. As an individual who made the right call, I want residential prices to fall another 25 to 30% to get back in line with wages and rents in most neighborhoods. All of the Federal assistance will not prevent housing prices from falling back to their historic relationship to wages and rents. That's a fact. So if you are trying to stay in your house because you have lost money on it, you are definitely swimming against the tide. It's not worth it. Holding on to a stock or house that has fallen in hopes that it will return to it's former price is just hope and hope is not a smart strategy.
@Hal-My hat is off to you! Guess you are generally considered one of the "smartest guys in the room". I commend you on your above average intelligence and ability to foresee in advance such dire circumstances. You must be very proud of yourself.
Thanks, Roy, I'll take your comment as positive. As the old adage goes; "if it seems too good to be true, it probably is". When real estate prices rose close to 100% over 4-5 years with no increase in income, everyone should have seen it coming, don't you think? How else can you explain what happened? I would rather people use their heads and keep from being fleeced by Wall Street and our banksters. I think it was Thomas Jefferson who said he was "more fearful of banks than standing armies". His view was certainly prescient. We are hearing a lot of counterintuitive spin nowadays. There are many politicians who tell us we need less regulation of business, so they can grow. I think if there is just one thing we have learned from the subprime mortgage crisis, it would be that we need more not less regulation and oversight. The problems we witnessed just recently we the same ones that occurred during the Great Depression. The Glass-Steagall Banking Act was designed to remove these market excesses. Unless we want to see another recurrence of this financial crisis, we need to pass another Glass-Steagall and also break up the big banks Worldwide. You heat them crying now to deregulate them, but the reason they want less regulation is the same reason bank robbers prefer fewer cops. Let's be honest, none of us has benefitted from the financial crisis other that those who created it for profit.
Good comments Hal. I would also add that the fewest regulations necessary are desirable, with the caveat that they be the correct regulation to prevent and/or lessen the likelihood of these giant institutions following one another off the cliff in search of short term profits. Lax regulation will give us more crises like we've just experienced. And the "too big to fail" companies need to be broken up so that failure is always on the table. Makes their Boards sit up and pay attention.
There are no victims, just volunteers. If you can't afford it, rent.
There is NO mandate, nor regulation stipulating home ownership. Make no mistake, banks can be a crooked as a dog's hind leg too and I have no sympathy for any losses they may incur, but the notion of rewarding underwater homeowners is a slap in the face to capitalism, responsible homeowners, renters and most importantly, underwater homeowners. Enabling and entitlement as an economic model, doesn't work…
We teach children,
Humpty Dumpty sat on a wall,
Humpty Dumpty had a great fall.
All the king's horses and all the king's men
Couldn't put Humpty together again.
We all learned it. Yet we always look to the king's horses and men when things fall apart. The homes we own, the clothes we wear, the cars we drive have become symbols of who we are. When your life ends your stone won't mention what brand of suit you're buried in, won't have an etched image of your abode, nor be inscribed with the car you drove. It won't be until we, as a society, change our emotional appetites and begin treating banks and business as coldly as they treat us get the change we'd like.
"Rewarding underwater homeowners is a slap in the face to capitalism"??? I fear that ship sailed when we offered zero interest loans to the financial community in order to bail them out of some extremely irresponsible investments. Socialism for the corporate community and capitalism for the masses is not my notion of a great country. If we fear the idea of "moral hazard" it should apply equally and we should have let the large irresponsible banks go down in flames to be eventually supplanted by more nimble, stronger and smarter entities. That is what makes a capitalistic society successful
In response to the comparison to "cars". A home is a totally different animal. Real estate is unique and it is where your family emanates from. School, community, employment, civic pride, all are involved in a "home". I don't think the same could be said for a "car"..
We bought our home below market value but, were forced to pay PMI?
We had to get a second appraisal to get the PMI removed.
The lawyer that did the closing lost his license?
We are not under water and have never missed a payment or been late in ten years.
We don't qualify for any type of loan modification and can only refinance for several thousands of dollars to have our interest rate reduced. What's up with that?
I couldn't agree more with your analysis RJ, but the elimination of lending standards came before borrowers were lured into these problematic loans. It was the private/shadow banking system, not Fannie and Freddie that discarded the "conforming loan" model. Unqualified borrowers have to take responsibility for their decision to take on more mortgage than they could reasonable repay, but accountability cuts both ways. Corporate welfare is an undeserved entitlement also. We need to stop enabling some of the World's largest and most profitable corporations to shelter their income offshore. GE had some had $10.3 Bn. pre-tax profit in 2009 and received a $1.1 Bn. tax credit. XOM, the second largest company in the World, has received excessively large tax credits just because it was able to buy the lobbyists who bought the legislators who work for us. I understand how the corporate giants used their enormous monetary clout for political favors over the years to carve out preferential tax treatment. We are hemorrhaging revenues since the Great Recession started, yet these extremely profitable enterprises get handouts from Federal tax coffers for exploration and use their lobbying heft to demagogue climate change, for example, which is no longer being questioned by serious climate scientists. I say this a an Exxon Mobil and GE stockholder. Their corporate behavior is reprehensible. It's simply unpatriotic. Give me a smaller dividend and pay your fair share of taxes rather than pushing the debt onto the middle class taxpayer and threatening their social safety net. Stop playing games with the tax code simply because you can afford better lawyers than the IRS. Don't be bullies. What ever happened to the kind of corporate leaders who sought a win-win situation for themselves and their communities? The Henry Ford's who paid his employees enough so they could afford to buy the cars they were building? Don't they teach ethics in business schools anymore? Can we ever be a great nation again with this kind of "leadership" destroying the middle class?
So when do we the taxpayers get some of the "hyper equity" built up by these Florida and California folks during the go-go years? Let's just load up the folks who have huge capital appreciation in their paid off houses in those states with the debt reduction needed to bail out their high living late comer buddies.
@ Hal: We're on the same page. Capitalism—and society for that matter—have been bastardized by institutionalized narcissism. By design, capitalism's calling card is supposed to be opportunity. Self-interest at any cost, has morphed it into pure, unadulterated greed and what's worse, it's done "in your face" and with government sanction…the same government that's supposed to watchdog the perps.
I've reconciled that the USA that I grew up with is dying (dead?) and I don't see it coming back. For a society that's supposed to be more "enlightened"—and I equate that word with 'full of sh*t'—we're:
more racist
more unemployed
more corrupt
more extreme
more hateful
more (insert pejorative quality)
In the context of the aforementioned article, the government cannot backstop $100 Trillion in unfunded liabilities and as the situation grows more ominous, we'll attract less qualified individuals to lead, which will further exacerbate problems. Until we have a leader by, for, and of the people (read: middle class), instead of the elite, we'll become a third-world sh*thole. The elite will have circled the wagon as they have—and want—to keep theirs.
No bailouts, for nobody, with no exceptions. Sink or swim, as necessity is the mother of invention…
Quite a flashback here from the self-righteous. Anyone who has been keeping up with this phenomenon has doubtless read many stories of legitimate victims of this "crisis." Victims not just in the matter of accepting consequences of a bad decision. Victims in the manner of suicides, and other despair beyond measure.
It is easy to pretend that the majority of Americans who participate in this culture are financially adept. In fact, a large proportion are skilled in other ways, but depend upon some degree of trust in experts when it comes to making the necessary financial decisions. That is why we have accountants, financial advisors, bankers, and all the others who justify their highly-paid existence on special skills the masses do not possess.
You can't have it both ways. Those who blame the masses for not being smart enough to see the lizards are in denial.
So the true victims of the housing crisis are either the financially naive or the victims of the larger recession. Even omitting the greedy speculators who everyone agrees should eat dirt and die, what about the rest?
As someone who made a judicious and informed housing purchase at the height of the "boom," and has endured plummeting values and a mortgage modification since (which helped not a whit after all), I can truly say that those who criticize should walk a mile in my shoes!
As a taxpayer, I would support these principal reductions under five conditions.
1. That the homeowner-beneficiary has to report the principal forgiveness as ordinary income on the 1040 and pay the appropriate taxes.
2. That Fannie Mae and Freddie Mac be prohibited from issuing new debt to buy and securitize mortgages, and that once their current portfolios run-off, they be put out of existence.
3. That the homeowner mortgage interest deduction be eliminated
4. The the capital gains exemptions for owner-occupied dwellings be eliminated.
These steps together would end the mindless subsidization of the mortgage banking and housing industries once and for all and serve as a governing mechanism to prevent speculative bubbles in the future.
@SAL ... you're using moral relativism to justify your point. You can walk away and rent. End of story. Yeah, your credit will get dinged and you won't be able to buy for another 3 - 7 years, but that's part of the deal. But please…don't ask me—a renter—to financially support those who can no longer make their mortgage payments. And if you'd made a "judicious and informed housing purchase at the height of the boom", you'd have realized the unprecedented median income/home price ratios were historically unheard of.
And btw, suicide is a choice, not an involuntary act. The banks, the buyers, the investors, the realtors, the mortgage companies, the politicians ... EVERYONE involved, was complicit in making this economic boondoggle come to fruition. They are ALL to blame. And if it's sympathy they're looking for? It can be found in the dictionary in between sh*t and syphilis.
Make that four conditions. My wife called me away before I could proof read my post.
Kay Lillie, your premise is flawed - "What about those with loans owned by investors who won't allow banks that service the loans, to allow refi by the owner???"
It's not the investors who are denying refi's. It's the fraud-servicing banksters who are doing it. They're not even taking it to the investors for approval. The banisters are making $1200 for each mod and refi application. They're "losing" paperwork or telling homeowners they didn't submit the proper paperwork or insisting they need more paperwork, each time filing a fraudulent app that they know will be denied, and then they start all over again. These applications make them money. It's in their best interest to the tell the homeowner (eventually) that the investor is denying it, when in fact, the investor has no clue.
@Sal- I don't think anyone can claim to be naive in this housing crisis. If you look at the polls done by Dr. Robert Shiller just after the RE crash, homebuyers expected double-digit returns over the next decade despite the reality that housing prices had tanked. They were totally unrealistic. Whether you buy a diamond, a flat screen TV, a stock or a house; it can go down in price as surely as it can go up. I have walked a mile in your shoes. I had bought many things in my lifetime that have declined in value. The difference I see now is that both buyers and sellers want those who "got it right" to absorb their losses. That's completely unfair and sets a dangerous precedent. I say "buyer beware".
Spot on David Heitel. What I find very unsettling is homeowners who now want to refuse to give up their "ownership" of the property so they can keep their "investment" position in case real estate appreciates in the future. What most people fail to understand is that they don't "own" their house. They just own a mortgage. This is a liability, not an asset, and those who were unqualified to purchase a house with a normal mortgage should not be allowed to keep it today solely with the assistance of taxpayers IMHO.
I'm confused. Does the analysis say that principal reductions would save taxpayers money, or does it say that when Fannie and Freddie factor in "incentives" paid by Treasury (that is, taxpayers), principal reductions in some cases save Fannie and Freddie money, after factoring in subsidies from taxpayers? Not at all clear in the article.
I agree that rejecting principal modificatons in all cases doesn't make sense per se. But that is different from a systematic and well publicized program that allows principal reduction modifications, as that most decidedly could impact borrower behavvior in ways that may or may not make principal reductions a net cost to taxpayers.
I agree….but I will not give my password
The real estate market, at least for a half century, sky rockets, then drops back. Example: 1300 sqft, Orange County, Calif. 1962 - Value $9,000. 1972 $20,000 1975 $17,000, 1981 $130,000, 1984 $100,000, 1992 $180,000 1994 $155,000, 2006 $550,000 2012 $400,000. Hello!!! 2016 $900,000. Hold on to your house if you can. OK, for some, now it's worth less than owed. Wait. It WILL go way up again. You dump it just because it isn't worth enough, you destroy your credit, and in a few years you will never be able to buy a home again, enjoy huge profits, and, you'll be a renter for the rest of your life, living hand to mouth.
Govt solution: For people who can't pay all their mortgage anymore, change the loan to a 40 or 45 year loan. Homeowner gets reduced payment, FNMA/ FHLMC will still get all their money eventually. Reducing the loan amount encourages people to default. If they lost their job, they can't pay anything let alone less, and FNMA / FHLMC lose money on the ones that would have kept paying.
Not paying because of negative equity is stupid. The house will go way back up in a few years and you will be 'rich'. Hold on to your house if you can. Reduced payments, thru some method, is the answer. Some people are out of work and can't pay anyway. People with the 5 year ARM's, 30 due in 5, adjustables with payments that have gone up, they are the ones that can be saved. People that can't afford the higher payments.
Regarding putting FNMA & FHLMC out of business: They didn't do anything wrong. It's the PEOPLE in charge of F & F who made bad decisions, and probably knowingly. F & F have a necessary place in the U. S. real estate market. The banks have taken the multi-billions Obama gave them without requirements and used them in higher paying investments than a couple % they would make from approving 3.8% loans. Without F & F & FHA, the real estate market would have totally imploded by now. No purchases, no refi's, nada. We need F, F & F. But, we need them to be run by people who get their bonus 5 years down the road, if, by then, the decisions they made have proven to be beneficial. Not a bonus because business increased today due to decisions that are going to fall apart later.
@RaymondWillis- you do know that the highest percentage of "strategic defaults" come from wealthy borrowers who can pay their mortgage even though they're underwater and have decided it will simply take far too long for their investment to regain it's lost value. So, one way to look at your housing investment is to use an example. If you bought a $500K house with 10% down, you'd have $50K in the game. If that house depreciates 50% which has occurred in some neighborhoods, you are now down 400% of your investment (the $250K loss minus the initial $50K invested). If housing prices follow their historic returns of 3.3% (1900-2010), it would take many decades from here assuming we have reached a bottom to even return to your initial price. Since we are witnessing very slow job and wage growth, I can't imagine any appreciation for at least another 5-8 years. There is way too much inventory, not to mention the fact that banks have hidden a lot of their foreclosures because they don't want to put it on the market under the current pricing situation. As was suggested, it will take just 3-7 years to re-establish credit if you were to walk away from your house now versus many decades to get even. Does this strategy make any sense? Many large real estate investment companies have walked away from their contractual mortgage obligations for business reasons. Take, for example, the default by Tishman Speyer/Blackrock on their $5.4 Billion Stuyvesant Town-Peter Cooper Village project that was purchased at the peak in 2006. This was the largest residential default in history. Do you think Speyer Tishman or Blackrock care what people think about their decision to default?
Finally, while it's not popular because so many buyers are underwater right now. It must be stated that housing prices will not stabilize until they reach their historic relationship with wages and rents in a neighborhood. Prices are still way above their trend line which says they must fall further. All of these government interventions simply delay the inevitable outcome and push a recovery and normal appreciation further down the road. When you ask for 40/45 years mortgages at 3.8%, you are not recognizing the fact that this is precisely the reason, we will not see normal appreciation anytime soon. The reason banks refuse to write down mortgages and extend loans to distressed borrowers is that most of these loans fail again within a few months. It has nothing to do with the fact that the TARP funds which were doled out to the banks under Bush, had no strings attached. In the simplest of terms, people who should have stayed renters should now return to renting. It is a lot cheaper, besides. They're just hung up on the title, "homeowner", for all the wrong reasons.
I have paid my house mortgage for over 25 years and the minute I am without a job they want to kick me out. I have called many help line professionals and still have not gotten any real help. I am still unemployed and about to turn 61 with No where to go, where is the help that I was told with be there as a part of the american dream?
Pauline - I don't know what state you live in, but I would stay put as long as possible. In Fla, it takes years for them to kick you out. You might ask your local bar association if there are pro bono options for you - free lgal help. Check it out.
One way I have seen some lenders modify their borrowers loans:
DEFER a portion of the balance to the end of the term (end of the loan) with no interest accruing.
This will immediately reduce the ACTIVE balance, and at these low interest rates - make the loan affordable.
If the homeowner makes on time payments for 3 years the deferred amount if forgiven.
Commenting on this story is closed.
The taxpayer-owned mortgage giant made investments that profited if borrowers stayed stuck in high-interest loans while making it harder for them to get out of those loans.


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subset: commoncrawl


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SOURCE has Three Funded Summer Undergraduate Research Programs!
Spring 2014 ALCOA Application (rolling deadline until February 7, 2014)
SOURCE - Students from all majors eligible to apply! Funds students for up to 10 weeks (maximum funding for 10 week experience: $3500). Flexible start/stop times. Application Deadline: February 15, 2014.
ACES+ (Academic Careers in Engineering and Science (Deadline: February 15, 2014)
BME-REU (Biomedical Engineering - Research Experience for Undergraduates) (Deadline: March 22, 2014)
Chemistry - NSF-REU Program Information and Application (Deadline: February 15,2016)
Center for Proteomics and Bioinformatics - PRISM (Proteomics Research in Systems Medicine) (Deadline: March 1, 2013)
CLiPS (Center for Layered Polymeric Systems) summer program in polymers (TBD)
CREATE (Case's Rising Engineers and Technological Entrepreneurs) Summer Design Experience (Deadline: March 8, 2013)
ENGAGE (Center for Stem Cell and Regenerative Medicine Undergraduate Student Summer Program) ENGAGE 2014 Application (Word) or ENGAGE 2014 Application (pdf); for additional information visit: http://thestemcellcenter.org (Deadline: March 28, 2014)
Experiential Learning Fellowships - College of Arts and Sciences (Deadlines: March 13, 2015) - General Info; Rocks Fund Application; Traub Fund Application
Heart, Lung, and Blood Minority Research Training Program (Deadline: February 15, 2014)
Physics - NSF-REU (Deadline: March 15, 2013)
Physiology & Biophysics (SURP) Summer Undergraduate Research Program (TBD)
Rainbow Babies & Childrens Hospital (Deadline: February 24, 2013); Application; Information
The Summer Medical & Dental Education Program - School of Medicine: (Deadline: March 1, 2013)
SURP – Summer Undergraduate Research Program in Pharmacology (Deadline: January 31, 2013)
SURP - Summer Undergraduate Research Program in Physiology (TBD)
The Wellman Hill Political Science Internship (Political Science Department) (Deadline: February 7, 2014)
Opportunities in Cleveland:
Chester Summer Scholars Program (at MetroHealth Medical Center) (Deadline: February 14, 2013)
The Cleveland Clinic Lerner Research Institute - Center for Reproductive Medicine (please note that you must pay for this experience) (Deadline: March 1, 2014)
The Cleveland Clinic Lerner Research Institute
Cleveland Museum of Natural History - Adopt a Student Program (Deadline: Early March, 2013)
The Holden Arboretum Internships
NASA Some Cleveland Opportunities - Multiple opportunities available with varying deadlines.
Summer on the Cuyahoga


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JACKSONVILLE, Fla. - WJXT, The Local Station, is again No. 1 in news for the November 2012 Nielsen ratings period in the Jacksonville television market.
In morning news, Channel 4 News at 5 a.m. is No, 1 in the time period, with a 3.4 household rating,beating WTLV (2.3 HH rating). Channel 4 News at 6 a.m. is up 7% year-to-year and is No. 1 in household ratings in the 6-7 a.m. time period, garnering a 6.2 household rating and an 18 share (compared to WTLV 3.9 RTG/12 SHR and WTEV 1.2 RTG/3 SHR).
The Morning Show, anchored by Staci Spanos, Bruce Hamilton and Richard Nunn, is No. 1 in from 7 to 9 a.m., with a 6.0 HH rating and a 16 share beating out all other newscasts, including the national broadcasts of NBC's Today Show on WTLV (3.6 RTG/10 SHR) and ABC's Good Morning America on WJXX (1.5 RTG/4 SHR). This marks the 11th straight month of wins in the 7 - 9 a.m. time period.
In evening news, Channel 4 News at 5 p.m. is up 15% year-to-year and is No. 1 in the time period with a 6.3 household rating and a 12 share (compared to WTEV 4.0 RTG/8 SHR, WTLV 3.4 RTG/7 SHR and WJXX 0.9 RTG/2 SHR). Channel 4 News at 5:30 p.m. is up 5% year-to-year and is No. 1 in the time period with a 6.5 household rating and a 12 share (compared to WTLV 4.2 RTG/8 SHR, WTEV 3.8 RTG/7 SHR and WJXX 1.2 RTG/2 SHR). Channel 4 News at 6 p.m. anchored by Mary Baer, Tom Wills, John Gaughan and Sam Kouvaris is up 6% year-to-year and is No. 1 with a 7.2 household rating and a 12 share (compared to WTLV 5.7 RTG/10 SHR, WTEV 4.2 RTG/7 SHR and WJXX 1.8 RTG/3 SHR).
In late news, The Ten O'Clock News is up 32% year-to-year and is No. 1 in news and No. 2 in the 10-11 p.m. time period against all of network prime time programming. At 11 p.m., WJXT was only two-tenths of a rating point behind ranked WTEV and had growth of 36% over November 2011.
In other day parts of the WJXT program lineup, Steve Harvey! is up 75% in the 3 p.m. time period over November 2011 and is the No. 1 new syndicated show in the market. Prime is another area of significant growth, with The Big Bang Theory showing 48% growth in the 9-10 p.m. time period over November 2011.
Copyright 2011 by News4Jax.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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Call for stricter labels on complementary medicinesAmy Corderoy
Published: November 20 2012 - 12:19AM
Australians should be warned that almost no complementary medicines are tested for safety and effectiveness, the nation's peak consumer health body says.
Only 2 per cent of complementary medicines – which include vitamins, minerals, aromatherapy and herbal and homoeopathic remedies – are tested by the nation's drug regulator, says the Consumers Health Forum of Australia.
The forum's chief executive, Carol Bennett, called for labels on all complementary medicines to state they are not tested before they are approved for sale.
Australians spend more than $1 billion each year on complementary medicines but many people are unaware that they are largely untested, Ms Bennett said.
"We want people to know they haven't been tested and in some cases they can be ineffective, or even harmful," she said.
"Two-thirds of Australians are using these products, and we just want people to be better informed about what is a very limited and light-touch regulatory process".
Last year a report from the National Audit Office found there were about 10,000 complementary medicines for sale in Australia.
Only about 2 per cent of those are "registered" by the drugs regulator, the Therapeutic Goods Administration, meaning their makers are required to provide comprehensive safety, quality and efficacy data.
Ms Bennett said that when complementary medicines had been audited by the administration, many were found to be in breach of guidelines because of problems such as poor quality or incorrect claims of efficacy.
"We're interested in ensuring consumers are as informed as they can be about the products people are choosing to spend a lot of their hard-earned money on," she said.
The administration should publish online all the evidence that manufacturers say supports the claims they make about their products, she said.
This story was found at: http://www.smh.com.au/national/call-for-stricter-labels-on-complementary-medicines-20121119-29mqb.html


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Paula Silva's comment, March 4, 2014 6:51 AM
Will you check this scoop? Thank you so much. http://sco.lt/5okJ17
'Awesomesauce' - for when 'awesome' just doesn't quite cut it. Jeff Sherwood explores how our everyday lexicon evolves differently in writing and speech.
Via Michelle Maglitto
30 creative ways to use Padlet for teachers and students
Via Ana Cristina Pratas, Jim Lerman
Rosemary Tyrrell, Ed.D.'s curator insight, August 11, 1:07 PM
Love Padlet. Here are some great ways to incorporate it into your sessions.
From alicekeeler
View individual student work in Google Classroom. Click on the student's name on the Student's tab in Google Classroom to view the list.
Via WebTeachers
Language translation and localization process with a high level of quality is possible by using computer assisted translation (CAT) tools.
Via Sergey Rybkin, Luciana Viter
One thing is for sure, social media is here to stay. Never before have people been able to connect, share, and learn from one another as we do now. I can only imagine what might be next! As a result, our students need skills to win at life in a digital world. The ability to use social media to support life goals and possibilities can be a game-changer. I know it has been very powerful for me in my professional life.
Learn more / En savoir plus / Mehr erfahren:
Via Gust MEES, Konstantinos Kalemis
Dennis T OConnor's curator insight, July 30, 1:26 PM
This social media infographic will help you understand social media advantages.
Rosemarri Klamn's curator insight, July 31, 7:56 AM
These are compelling reasons to practice social media in schools as it helps engage parents, the community, and the world. Teaching digital citizenship is another key aspect of responsible use of social media for students and parents!
La French witch's curator insight, August 13, 9:24 PM
7 bonnes raisons d'utiliser les médias sociaux dans ses pratiques d'enseignement, pour une expérience d'apprentissage alliant l'engagement, le partage, le lien entre les acteurs de l'apprentissage, l'ouverture au monde et l'exploitation stratégique (après un tri sélectif) de tout ce que le numérique a de mieux à offrir à l'apprenant. Pour une expérience d'apprentissage stimulante, interactive et moderne, oui au multimédia dans l'enseignement !
Do you display words and use those words daily in class? Check out these five must dos for teaching vocabulary.
Via Arizona State University, Claire McLaughlin
Arizona State University, Claire McLaughlin's curator insight, August 2, 11:11 AM
These five tips are so important and extremely useful when teaching new vocabulary to ESL/EFL students. The best part about them is they don't require special materials or technology (not that technology is bad-not everyone has access to it). They do take a conscious effort though..
Microsoft has been testing a number of text-to-speech features in Word over the years, but it's finally found a solid way to implement the feature. In the latest Office 365 updates this month
Via Penny Wagner-Auchmuty
As it is Dyslexia Awareness Week, we asked three guest contributors to explain how their experiences of dyslexia affect their relationship with language.
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Free resource of educational web tools, 21st century skills, tips and tutorials on how teachers and students integrate technology into education
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From www
The most complicated word in the English language is only three letters long, but those three letters are responsible for more than 645 meanings. Here it is.
From webquest
WebQuest Main Page.
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Our accents are an intimate part of who we are, central to how we express ourselves in speech. They can reveal things about our identity and background, such as
Via Michelle Maglitto
Have you ever wondered where the pound (£) sign came from? Our video explains the origin, and it might be different to what you think.
From www
Kiddom is the easiest way to plan, assess, and analyze learning. With Kiddom, teachers use one collaborative learning platform for assessment, curriculum development, messaging, and reports.
Via Nik Peachey, WebTeachers
Internet Archive is a non-profit digital library offering free universal access to books, movies & music, as well as 302 billion archived web pages.
Via Cindy Rudy
This year, Google is sending teachers back to school with updates designed to help them do what they do best—teach.
Via EDTECH@UTRGV
rodrick rajive lal's curator insight, August 3, 12:54 AM
Sure, Google is indeed doing a lot towards making classroom and forms easier for teachers in school this year!
New teachers often struggle with their board work. This short guide should help you acquire the basic skills to use the board effectively in your ELT class.
Via Malachy Scullion
Learn the English verb tenses. 12 Verb tenses with meanings and examples table
Via Learning Basic English vocabulary and grammar
From www
Why do we sound so different from each other – even when we speak the same language?
Via Marina N. Cantarutti
From alicekeeler
I have my students work in Collaborative Learning Groups (CLG's). I learned this from the amazing Jackie Gerstein. I intentionally design collaboration activities that they will do with their CLG. Writing COLLABORATION super huge at the top of your lesson plans is one of the things I suggest. The CLG group provides students a support …
Via Ana Cristina Pratas
Nevermore Sithole's curator insight, August 16, 9:36 AM
Google Form: Peer Collaboration Evaluation Template
From mylampa
MyLAMPA is a platform for language teachers and schools. It is the evolution of the learning management system developed developed by language teachers and it helps to support other worthy education initiatives around the world as well!
Via Nik Peachey, Jim Lerman
Nik Peachey's curator insight, July 26, 1:28 AM
This is a great tool and resource for language teachers.
Ines Bieler's curator insight, July 26, 11:52 AM
This is a great tool and resource for language teachers.
From alicekeeler
Create a Google Sites header image with Alice Keeler's Google Drawing template. Make a copy, customize and download. Upload to Sites.
Via Skip Zalneraitis
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Spice of the Month: Paprikaby Dana Angelo White in Healthy Recipes, January 11, 2013
It's got an amazing flavor and vibrant color – give this spice some love.
Paprika Basics
Paprika is made from grinding the dried pods of sweet red peppers. The various types demonstrate different flavor profiles – some are sweet and mild, others are deeper with more heat. The majority of these spices originate from Spain and Hungary, but paprika is also produced domestically in California.
Nutrition Info
One teaspoon of paprika contains 6 calories and a pretty staggering dose of vitamin A – 21-perecent of the daily recommendation! You'll also find small amounts of minerals like iron, copper and zinc.
What To Do With Paprika
Paprika perks up all kinds of savory dishes. Add it to baked beans or whip into softened butter to spread on bread or melt on veggies. Sprinkle on hot artichoke dip before baking and mix into dry rubs and marinades. Keep the paprika handy to season flour and breadcrumb coatings for chicken and fish or add some to chili, pulled pork or your favorite stew recipe. That's the beauty of paprika — it's bold enough for brisket but delicate enough for quiche.
Storage Tips
Store paprika in a cool, dry place for up to 1 year. If you're not sure if your paprika is fresh, give it a sniff — fresh paprika should have a strong aroma.
Recipes to try
Parmesan Paprika Popcorn
Braised Paprika Chicken
Oven-Fried Chicken
Crustless Spinach Quiche
Chicken Tandoori
Sweet and Spicy London Broil
Marinated Olives with Rosemary, Red Chile, Orange and Paprika
Roasted Red New Potatoes with Sweet Paprika Butter and Parsley


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We Are Here To Help
Mission Statement:
Our mission is to provide peer to peer hope, help and support; To foster recovery in the lives of people living with depression, bipolar, and other mental health disorders.
Peer Run Support
DBSA-OK is a peer run mental health advocacy group. We are here to provide peer-to-peer support, we are NOT professionals.
We Have Moved!
We have moved to a new office that provides us more space to be able to serve you better. We have a new suite number but are in the same building.
3000 United Founders Blvd Suite 104
Oklahoma City, OK 73112
Improving the Lives of People with Mood Disorders
Marked by changes in mood, depression and bipolar disorder (also know as manic depression) are both highly treatable, medical illnesses. Unfortunately, many people do not get the help they need because of the misunderstanding surrounding the illness, or the fear associated with stigma.
The majority of people seeking help with mood disorders are able to find treatments that work. Talk therapy, medication or a combination of both helps individuals feel better and change situations in their lives that may be contributing to their illness (substance abuse, harmful relationships, etc.).
For more in-depth information, be sure to see our page on depression and bipolar disorder and the differences between them.
Check Out Our Resources
Information is key when you are either coping with a disorder of know someone who is. On this site we aim to connect you with the information and support that you need. You can learn about mood disorders and take confidential surveys. We have support groups listing, so that you can connect with others who understand what you are going through. We have other resources such as brochures . If you would like to receive felony friendly employment informations contact us and let us know. Use the calendar to stay current with DBSA. We will also help you connect to other state and national organizations on our links page. If you still can't find out what you are looking for please contact us and we will help connect you to the support that you need.


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I THOUGHT Tom Richardson would go on forever. Filling the role of Chief Executive of the Gloucestershire County Cricket Club with such vigour and determination he seemed a permanent part of the club.
For 12 years his shirt-sleeved figure has been so much a part of our county scene.
The long, warm and reflective conversation I had with him last week showed me I should have anticipated his decision. He has achieved so much that he feels he can step down with honour.
Ground development is well under way. The major part of it, the pavilion, will be complete when Tom leaves. That will be his memorial.
But there is so much more. As a board member, Tom has played a major part in the overall strategy of the club and as Chief Executive the execution of that strategy has been his task.
At the heart of this has been necessary cuts and economies. Tom has been nothing other than fair and straightforward, and at the same time tremendously loyal to his staff. Nothing has been shirked and for all of those years he has put the county first. He is a valued and true friend.
I hope that county members read in full the letter they have just received from Chairman Rex Body. It offers members opportunities they have never before possessed. Recommendations can be made for the post of club president and, more importantly, members can make nominations for the executive board or stand for it themselves.
Glos CCC is now a true members' club and there is the opportunity for the right people to move straight to the heart of Gloucestershire cricket.
The previous constitution caused one very major figure in English cricket to defect to another county.
Chairman Rex and myself had to wait until we were 60-plus to be doing things we could have done at 50. The way is now open for the right people to make a contribution and many readers of this newspaper are capable of doing exactly that. Take the chance. It is worth it!
So was my visit to Lincoln on Saturday (Lincoln City 1 FGR 2). Despite the wretched weather, I bravely ventured forth. The attraction of a small but vibrant Cotswold town (Nailsworth) playing against a team from a major English city was too good to miss.
The all-seater Sincil Bank ground close to the Cathedral is set up for Championship football. No one was overawed, however and Rovers were on top from the start. The front three of Taylor, Norwood and Styche were too much for a static defence. It was 2-0 at half-time – it could have been four. Lincoln rallied in the second half but Rovers held on to earn three points.
I could not leap up to celebrate as I was sharing the Radio Gloucestershire commentary with Bob Hunt and we had been given the two smallest seats in the stadium. And, of course, neither of us is slender.
The press area at the New Lawn will be crowded, but not cramped, when Wrexham play there on Saturday.
Like FGR they are pushing for promotion and bring with them a large press posse. Their broadcasters commentate in Welsh, making it seem like a European Cup-tie. No, that is not ridiculous, just think about it. Team from a major city in a foreign country and a different language used – all the ingredients are there.
My nomination of Nigel Scrivens as the best ever sportsman produced by Cirencester has caused some discussion.
Cricketer Wally Hammond and athlete David Hemery have been suggested as alternatives but as their only connection with Cirencester is schooling they were not considered. This column would welcome other suggestions so the ball is in your court, readers.
The cold weather which has prevented sporting action has allowed much conversation of a nostalgic nature to take place.
Meeting Ray Keylock, a fine Coates wicket keeper and a worthy opponent in the 1950s, I suggested the best way to forget the treacherous Brewery Yard car park was to go home and think about the sunlit evenings of the Oaksey Bowl.
He readily agreed, but added that the years Coates won must be especially remembered, 55 years later they are still winning!
This was the era that Frank Keating (Stroud News, Punch, Spectator, Guardian and Observer) was watching cricket at Cheltenham sustained by 'a bottle of Tizer and a bag of Pershore plums'. No one has evoked the joy of those far-off days better than Frank.
His heroes – Bomber, Tom, Sam, Arthur, Andy and the two Georges – were ours and his writings ensure their memories will live in our hearts forever. He died last week, but no one could leave a greater legacy. Reading his columns was always a joy.


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The Things We Eat
The Things We Eat
A couple of different editorial projects I did this past month happened to be about food. However the first one for The New Yorker was a unique aspect of the topic: It was a story about eating animals that the majority of us consider unethical to eat and the restaurants that serve such dishes. The list included whales, live lobsters, horses and even lions in some parts of the world. The kind of thing that makes you nauseous and leaves you wondering, what makes it alright to eat cows instead?
Picture above, a section of the final piece.
A big part of the story described an operation to expose a restaurant in Los Angeles that used to serve illegal whale and horse meat to satisfy certain palates. This is the actual restaurant. It was located next to an old airport that I imagine was the door to the contraband. Not eery at all.
Another idea was a little more literal. I kind of wanted to draw a big pool of blood and maybe some flesh to shock the audience even more.
One thing I thought was the most twisted about these extreme foodies, was the pleasure of seeing the animal dying as part of their feast. Maybe not whales but lobsters and crabs. So here's this rich couple paying a hefty amount for their super fresh meal. Pass the lettuce, please.
And this is the idea that moved to final. It included a hint of some of the animals mentioned in the story. The whale didn't fit in the bowl, but this happy customer kind of makes up for it.
Here's the iPad version of the opener. It ran full page in the magazine this week.
It's a well written piece and even though it got me a tad queezy, I do recommend it. READ HERE
The second project was some sort of an interview for the Italian illustration magazine Nurant. The theme for this issue was food fobias. One of them was intolerance to specific noises like the slurping some people make when drinking hot beverages.
Rejecting a member of a community for changing food choices is another fobia. Who knew?
And for the third spread I decided to interprete a more common fobia: Foreign eating habits.
Nurant is a really lovely publication. Its digital version can be seen HERE
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This is the board.
Printable View
This is the board.
Some of my favorite shots! This board has never been surfed. Waiting for waves.
The worst form of torture is having this board sitting in my living room and the ocean is flat! I'm going nuts!
please attach a gopro to it facing you.....
Not a bad idea superbust. I wonder if they have a stick on option.
This post is for real. Are you?
so wait, is that a real roy stuart board? Like, is he $500,000 richer thanks to you?
The board was inspired by Roy Stewart. I built the board myself over a three month period.
Steve, I asked before but don't remember seeing a reply... does the board have any flex to it or is it stiff?
My apologies Mfitz73.Yes the board does have flex. I have had the board turned upside down and tried to flex it. It's like a tight spring. But beside the flex. I was running the vacuum in the workshop next to the board and the board hummed with a steady resonance like a plucked piano string. It was amazing.


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Hugh Hefner
Hugh Hefner started his magazine Playboy in 1953. It was a mainstream lifestyle publication that celebrated sex and concupiscence at a time when most Americans didn't talk about such things in public. The first issue included a now-famous calendar photo of Marilyn Monroe and quickly sold out. Playboy, not without controversy, became a smashing success, known for its high-quality writing and in-depth celebrity interviews along with its always-popular photos of naked women. Hugh Hefner built Playboy into an empire in the 1960s and 1970s, opening nightclubs that featured scantily-clad hostesses known as "Bunnies." Hefner even launched a TV show, Playboy's Penthouse, in the early days of cable television. Hugh Hefner had a stroke in 1985 that slowed his swinging lifestyle, and in 1988 he turned over business operations to his daughter, Christie Hefner. But after nearly a decade out of the spotlight, Hef bounced back in the late 1990s as a swinging senior citizen, once again enjoying the limelight and boasting a harem of much younger girlfriends. In 2005 he began starring in the cable series The Girls Next Door, which followed the lives of Hef's three live-in "girlfriends": Holly Madison, Bridget Marquardt, and Kendra Wilkinson. The three were replaced by new girlfriends in 2010, and the series ended that same year. On Christmas Day of 2010, Hugh Hefner tweeted his engagement to one of those new girlfriends, Crystal Harris, a 24-year-old who had been Playboy magazine's Miss December of 2009. Hefner and Harris broke off the engagement in June of 2011, a few days before their planned wedding, but they got together again the next year and were married at the Playboy Mansion on December 31, 2012.
Hugh Hefner earned a Bachelor of Arts degree in psychology from the University of Illinois in 1949… Hugh Hefner has been married twice before his 2012 marriage to Crystal Harris. He was married to the former Mildred Williams from 1949 until their divorce in 1959; they had two children, Christie (born 1952) and David (b. 1955). His second marriage was to Kimberly Conrad, a Playboy 'Playmate of the Year'; it lasted from 1989 until their divorce in 2010, although they were separated for the second decade of the marriage. They had two sons, Marston (b. 1990) and Cooper (b. 1991).
Copyright © 1998-2017 by Who2?, LLC. All rights reserved.


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Go the extra mile. Edge 25 captures essential ride stats, including time, distance, speed, total ascent and location. When paired with a heart rate strap (sold separately), it records your heart rate and heart rate zone so you'll know when you hit your target (also providing more accurate information on calories burned during your ride).
Edge 25 offers all the necessary stats to take your ride to the next level. Small in size, yet packed with features such as smart notifications when paired with a smartphone.
Choose from courses ridden by others or create your own on Garmin Connect, Garmin's free online community. Once you choose a course, upload it directly to Edge 25 and follow it to your destination. You can even compete against yourself to make it more interesting. Via Bluetooth with your smartphone or a simple connection to a computer, you can upload your activities to Garmin Connect and see the path you traveled on a map, analyze it, share it and view details. Bluetooth also allows Live Tracking, so friends and family can follow your ride in real time. Invite followers using email or social media, which lets them view your live data on Garmin Connect. Compete against other cyclists on Garmin Connect segments and see your results post-ride on the leaderboard. Includes on-device alerts for segment start/finish points.
Edge 25 lets you know how fast/far you're riding. ANT+ sensors (sold separately), let you track cadence, as well as indoor speed and distance.
Edge 25 uses GPS/GLONASS satellites to track how far/fast and where you ride, even under dense tree cover. Unlike a phone, you can use Edge 25 for up to 8 hours without worrying about data or battery drainage.
- Tracks time, distance and speed, and heart rate ((heart rate transmitter sold separately)
- Plan, download and follow new rides
- Save, plan and share your activities at Garmin Connect
- Water-resistant, durable device
- Connected features, for instant data upload and LiveTrack
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Reviewed by 3 customers
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Easy to program and operate, kinda. Sometimes it takes quite awhile to locate GPS and will not operate until this process is complete. I have looked in the sky during these times to see if our satellites were crashing to earth after a missile assault. In addition only 8 hours of battery life is marginal at best. As it is GPS it is more accurate than a standard bike computer.
This little computer does everything I want it to do. Out of the box it comes with firmware vs 3.0 which I immediately upgraded to the current 3.3 via Garmin Connect. Pairing the speed sensor was pretty much a straight forward process although the instructions as to how to do that were a little sketchy. After it is paired you must actually ride the bike approximately one mile with the GPS working to calibrate the sensor to your wheel size. In times past, you actually had to put the edge into the "indoor" mode to cause the speed sensor to work; that is no longer the case. The sensor will automatically take over when gps signal is dropped. Likewise, when you put your bike on an indoor trainer the speed sensor will take over when there is no GPS signal. The computer allows you to show three data fields on page one; it allows two data fields on the second. It is very easy to set up - I had mine all dialed in without even opening the instruction manual. Reading the manual after words allowed me to pick up a few subtle nuances. You can download/upload tracks from Garmin Connect but the map is a a rudimentary presentation. It does allow you to use turn by turn to aid in navigation. If you want more, you'll have to spend more to get one of the mapping GPS. I'm not a smart phone user and thus didn't attempt to pair this to a smart phone with the bluetooth feature and can't say how that process or application works. I would highly recommend this for someone looking for a small, easy to use GPS driven bicycle computer who doesn't need all the bells and whistles. One caveat, upgrade to firmware 3.3 before using.
Best Uses
Its great for showing my route and giving me notice of upcoming turns. It even lets me know when I'm back on course if I go off. Its easy to use and to read. Makes for a more connected ride.
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No particular order this time. Just me, my busa, and a bunch of complete strangers...
All over the state. Other states. Other countries. It was their Pashnit Tour.
Really diverse bunch.
LT next to an 650X thumper.
...next to this.
(this is Mark's sidestand btw)
We hit Yosemite in all its grandeur.
Took in some climbers. Took me a moment to realize all you need to do is look for the chalk trails.
One of those Pashnit moments
Even got to see a bear.
Not a bad bear residence.
A tunnel or two
Next day... breakfast.
Monitor Pass
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Available Formats: HTML | PDF | TXT
Research Experiences for Undergraduates (Archived)
Document Type: Program Announcements & Information View Program Page
Document Number: nsf09598
Document History: Posted: July 23, 2009. Replaces: nsf07569. Replaced By: nsf12569.
For more information about file formats used on the NSF site, please see the Plug-ins and Viewers page.


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Hello there,
I just released the version 0.3 of my python version of POSIX cp with advanced features. Here's the sourceforge-link and some information on the project:
I would be glad, if someone would test the program and send suggestions / features requests.
Link: http://sourceforge.net/projects/python-copy/
copy is a command line tool to copy files and directories written in Python.
It behaves just like POSIX cp but has some additional options like resuming aborted copying jobs.
- resume partly copied files
- exclude file patterns from copying
- semi-blocking -i option: copy will first copy everything it can and then ask for files to overwrite


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Additional Information
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The Iconian language was the language used by the extinct Iconian race.
Archaeologists speculated that three later languages, Dewan, Dinasian, and Iccobar, were derived from the ancient Iconian language due to certain shared similarities. If so, this would suggest that some Iconians were able to survive the orbital bombardment of Iconia. The hypothesis was confirmed in 2365 with the discovery of Iconia and Iconian script by the Federation. Lieutenant Commander Data derived a rudimentary translation of original Iconian from comparing words such as "mother", "father", "food", "death", "child", "home", "tribe", "pain", "love", "mine", "yours", and "ours", in those three languages.
The following examples of Iconian were from the computer in a gateway control station on Iconia:
- "Kandar se, kandar ere, kandar more, kandar sete, kandar ne, kandar qetar, kandar jet, kandar piqe..."
This line was a countdown of some sort for an Iconian probe launch, spoken before the facility was destroyed. The exact translation is not known. (TNG: "Contagion")
Background information Edit
The Zibalian language is written with almost identical characters and in a similar fashion to Iconian, suggesting that it is descended from or otherwise influenced by the Iconian language. The Lokirrim script also shares similarities with Iconian, albeit with significant differences as well.
According to Star Trek: Star Charts, Dewa, Iccobar, and Dinasia were the names of star systems.
- Dewa was located in or near Romulan space. The primary was a Class M star. It had a magnitude of +9. In Star Trek Online's continuity Dewa's third planet was settled by the Romulan Republic, a Romulan splinter faction led by D'Tan, in the year 2409. The Republic made the planet their capital, renaming it New Romulus.
- Iccobar was located in or near Federation space. This was a binary star. Primary was a Class G star. It had a magnitude of +5, which was the same brightness as Sol. Its stellar companion was a Class M star.
- Dinasia was located in or near Federation space. The primary was a Class K star. It had a magnitude of +9. This system was quarantined. (p. 63)
External links Edit
- DiWahn at Memory Beta, the wiki for licensed Star Trek works
- Dinasia at Memory Beta, the wiki for licensed Star Trek works
- Ikkabar (planet) at Memory Beta, the wiki for licensed Star Trek works


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I see we're still talking about LeBron … er, Ilya Kovalchuk.
Will this ever end?
Well, I've said all I can say about it. I wrote around July 5 that the Rangers should at least consider it, that this kind of talent comes along only once in a while, that he's only 27.
Then I was told flat-out that they weren't involved, and that they wouldn't be.
Then I started seeing the salary he's commanding, and worse, the number of years. I don't think the Rangers should be in for that price or for that lone, nor do I think they can afford to be, inside the salary cap. So I wrote they should stay away.
I don't know what to think. And obviously, I'm not alone on the fence.
Would he help? Absolutely. He fills the biggest hole the Rangers have, and would eliminate a lot of those nights when they can't score more than one Gaborik goal. He gives them a second first-line player to go with all the other third- and fourth-line guys they have. And when you get a legit first line, some of those guys now playing first line can slide in OK at No. 2 line positions.
Would he hurt? Absolutely. He will cripple them capwise for years to come, and when he's in his 30s and not scoring big numbers of goals anymore, he will be a detriment on the ice and a cap-clogger off the ice, and his contract will look worse than Drury's. During his entire contract he will prevent them from adding mid-salary role players and defensemen, and immediately will force the young kids to be good, and quickly. And maybe down the line they will have to trade some of those young players in order to be able to keep others.
I think, ideally, you build your core then add the superstars. Because you can't do it the other way around. No team in history has bought a core and succeeded. Dozens have built a team almost ready to contend, then added super-skilled parts later, and won.
So I'm still on the fence. Fortunately, I don't have to make this decision.


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First place in the East. Five straight wins. Top two or three in team defense. Fewest losses in the whole freakin' National Hockey League. And your New York Rangers really haven't nearly hit their stride or been nearly 100 percent healthy yet. 'Nuff said.
1) Seven goals allowed in the five-game winning streak. Fabulous goaltending, fabulous defensive play — well, not fabulous for all of the game last night, but for a lot of it. Oh, and seven goals in five games, that's the same number for Marian Gaborik over that stretch.
2) You could tell both teams hadn't been on skates for two days. Well, you could tell the Rangers hadn't been.
3) You could read Stu Bickel's lips after his fight with that clown Michael Haley. He said to the officials: "He jumped me." And he was right and the officials got it right and handed Haley the instigator penalty. Plus Bickel hurt Haley's hand with his face (which is a mess), and turned around and did quite well considering he was at a terrible disadvantage at the start of the fracas. Bickel lost his four-game point streak. He'll have to start a new one once his eye reopens.
4) I don't like to brag, and I don't like to say "told ya so" too much, and God only knows that I haven't had the opportunity to be right all that often, and many times I've had to say I was wrong. But I was right about Michael Del Zotto. Kid is a player. Both ends. And if the Rangers ever have all their D-men healthy they're going to have to find a way to keep giving Del Zotto minutes, because they don't have another D-man on the roster or in the system who does what Del Zaster does.
5) When Anton Stralman crashed into the boards and appeard to be kneed in the back of the head and lay there for a minute, I actually thought, "They can't afford to lose him. He's one of their top eight or nine defensemen."
6) Once again, Henrik Lundqvist leaves me without words. He had to be great during short stretches in this game, and he was better than great in those stretches. You know what I really like about him? He gets it. He gets how good his team might be, and how they haven't accomplished anything yet, but they've shown us and themselves an awful lot.
7) The NHL's holiday roster freeze unfreezes at midnight tonight, meaning that in short order I think the Rangers are going to make some roster moves, and that one of those is going to cause a lot of controversy to erupt again. I don't think Sean Avery is ever going to get back into the lineup unless one of the Rangers' rugged players gets hurt. So I imagine he's going back to Connecticut. And Erik Christensen might not be far behind, though he could stay if he's the only extra healthy forward until Wojtek Wolski comes back. But honestly, I don't see how John Tortorella introduces a soft player into this lineup with the way it is playing, and has played, for most of the season.
8) That sequence when Brian Boyle blocked the two shots, after being hurt by the first one, and then went down to try to block the third, which was blocked by Stralman, says all you need to know about the Rangers, doesn't it? And I loved that Tortorella pointed out that he hasn't always been happy with Boyle's play this year, and that he's told Boyle so. But that Tortorella also pointed out that when the Rangers needed to change some momentum to start the third, it was Boyle vs. John Tavares that pinned the Isles deep and got it done.
9) I was trying to add up all the goals that Ilya Kovalchuk, Claude Giroux and John Tavares have scored these last four games against Dan Girardi and Ryan McDonagh. But I couldn't find any.
10) I thought, even as his two wingers, Ryan Callahan and Carl Hagelin, combined for two goals and two assists, it was another struggle for Brad Richards last night. Ditto for Artem Anisimov.
11) Man, the Islanders are getting worse. And, yes, I was the idiot who once praised their young talent, and even once might have said they have better young skilled forwards than the Rangers … and I stress the word "idiot" as I remember writing that. Now even John Tavares looks bad, Matt Moulson and Kyle Okposo have regressed, and Marty Reasoner might be the worst forward in the NHL. You know what else? There's a portion of Islanders fans that feel the same way about that clown Haley as the fringe group of Rangers fans feel about Avery … and how about those Avery chants during the fifth straight win last night? Holy mackeral. Just wow.
12) Stunning stat of which I was not aware until MSG posted it last night: The Rangers lead the NHL in fighting majors with 30, or almost one per game!? What in Holy Hell? And that's after more than a few fights (Dubinsky, Bickel) were called double-minors for roughing … in other words, not fights.
My Three Rangers Stars:
1) Brian Boyle.
2) Henrik Lundqvist.
3) Michael Del Zotto.
(Ed. Note: tough to not include the kid with two goals).
AP photos, above.


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4 Way Neck Machine: Selectorize
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Red Acrylic Chairs
Love these! And...they're stackable! I mean, I'd probably always have them out and about somewhere in my home, but stacking them would make them easier to move around. Plus, they're made from a single mold, so they're a lot sturdier than acrylic furniture made in parts. And since they're plastic, I can take them on the patio when we have extra company! OK, I think I've got a sound argument in place, now I just have to convince my fiance we need more chairs ;)


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Hey there, time traveller!
This article was published 25/2/2011 (2370 days ago), so information in it may no longer be current.
"The First Nations lived up to their end of the bargain. Canada didn't." – lawyer Kris Saxberg
A few days ago I sat through the appeal hearing <http://www.winnipegfreepress.com/local/first-nations-feds-tussle-over-kapyong-land-116719484.html> of a case that feels like it's going to drag through the courts forever.
The issue?
Whether Manitoba First Nations have dibs on the former Kapyong barracks at Kenaston and Grant.
Here are three scenarios that can happen with the huge site:
1) The Indians can he handed it under their Treaty Land Entitlement.
2) The Indians can buy it at fair market value, develop it and reap the benefits.
3) Ottawa can sell it to the highest bidder.
Simplistic, I know.
Based on what little I heard in court, whatever happens won't be determined until after this case is decided in the Supreme Court.
For some perspective, here's the thoughts of Roseau River First Nation Chief Terry Nelson. Nelson was at the appeal hearing, but didn't stay long:
"I attended the Appeal Court hearing and walked out. I was so angry with the process. It seems that Canada is being rewarded for failing to fulfill their obligations under treaty. Indigenous people signed Treaty One on August 3rd 1871. The Treaty encompassed all of our 16,700 square miles of land. We allowed the immigrants access to our lands. For our willingness to share our lands with the immigrants in that treaty, the Crown promised they will put into reservation status 160 acres per family of five. One hundred and forty years later, the Crown is proven to be nothing but liars. A hundred and twenty-five years after the treaty was signed Roseau River Anishinabe First Nation signed a Treaty Land Entitlement (TLE) Agreement with Canada to allow for the fulfilment of the outstanding 5,861 acres of "shortfall" lands, lands that were supposed to be reserve lands in 1871. Overall, up to 16,218 acres of land were to be converted for Roseau River to reserve status under the 1996 TLE agreement. To date, 74.8 acres of those lands have been converted to reserve status since 1996. To get Canada to convert those lands, we had to have a National Day of Action in 2007.
"We signed the TLE agreement even though we had misgivings about trusting the white man again. Fifteen years later the Courts are being asked to disregard the treaty altogether and focus instead on the conditions of the TLE agreements. If what you report is true, the three Appeal Court Judges will reward Canada for being negligent, for failing to keep their obligations under treaty and for forcing First Nations into TLE agreements. How can the Crown rely on the TLE agreements to defend their actions, they totally breached the TLE agreements. So, how do we enforce the treaties if the courts are not an option for us?
"The white man smiled at us, called us brothers and promised that they will push for the urban reserve at the old Canada Packers Plant on Marion street. We offered a $100,000 an acre, over two million dollars for twenty acres. We did everything to get the property, jumped through all the hoops. Today, the land grows weeds, Indian Affairs would not approve the environmental licence because ash was found four feet down in 2 acres of the twenty acres we bid on. The city would not allow any extension of time and Attorney General Vic Toews wrote a letter to the Minister of Indian Affairs saying he would not approve any land conversion for Roseau River. So once again, we go through the same thing with Kapyong.
"To appease the rednecks, they tell us to not use the term urban reserves, we should instead call them economic development zones. Unlike other cities, Winnipeg urban reserves are being fought to the bitter end. So now Winnipeg has bought a helicopter to fight crime, the Youth Center is full, Headingly Jail is full, and Stony Mountain is bursting at the seams with First Nation convicts. The north end is being shot up and violence is being reported every day. No plan, no solutions, just more stalling tactics.
"I vow to ensure that Roseau River will have many urban reserves in Winnipeg. The courts will not save us, they will side with the government. I think that direct action is necessary if the courts are not an option for justice in treaty obligations. In 2007, I promised Minister of Indian Affairs Jim Prentice that I would not use railway blockades for five years to enforce TLE and land claims. That promise I will keep. I will honour my word to Jim Prentice. To date nothing more was converted for Roseau River and by June 2012, my word of honour to Jim Prentice is over. I meet CN and the Enbridge people next week.
"If business people do not want to see blockades, then they should be telling Canada to do what is right, be honourable and take your obligations under treaty seriously. Unlike Peguis, Brokenhead or the other First Nations in Treaty One, Roseau River is in a very strategic location. Two major railway lines pass by us taking millions and millions of dollars of Canadian exports into the United States and the pipeline that takes millions and millions of barrels of oil into the United States is close by to Roseau River. The major depot for Enbridge is in Gretna Manitoba, sixteen miles from us in Roseau River's exclusive treaty territory.
"If we fail to work with Canada on settlement of the 1903 Surrender and we reach a point where we no longer have any other option, we will shut down the depot in Gretna. Hundreds and maybe thousands of our people are ready to sit on the pipelines. On both sides of the border militant environmentalists want a chance to shut down the pipelines. They just want someone to lead the way. Why is it that after having spent hundreds of thousands of dollars trying to get the courts to force Canada to be honourable, we still wait one hundred forty years later for the white man to honour the most basic condition of treaty, the reservation land quantum. We are still waiting but for how long?
"In 2007, I was called down by people like Shawn Brant for not blocking the railway line like I said I would. I gave Jim Prentice five years to do what is right because I believed him to be an honourable man. I still believe that but if I am wrong I will definitely know that by June 12th 2012. I was specific with Jim Prentice, no railway blockades for five years. On February 29th 2008, I told Minister of Indian Affairs Chuck Strahl, No 1903 Surrender, No oil. It is now three years since I said that to Chuck Strahl. Oil is now a hundred dollars a barrel, Americans are paying over $3 a gallon and with the Middle East in flames, gasoline is predicted to go as high as $9 a gallon. If there is a time to carry out a blockade on Canadian oil pipelines going to the United States, is June 2011 that time?
"What the hell do we have to lose if there is no justice in the courts, no 1903 land claim settlement for Roseau River and no hope. Fire claimed the life of one woman last month and another lies in hospital with burns to most of her body because we can't afford proper housing. We still owe Indian Affairs $1.2 million for the flood of 1997, no forgiveness there and we face another major flood this year. They stole our best lands in 1903, the best flood proof lands, left us at the mercy of rivers at the mouth of the Roseau and Red. Four hundred and eighteen adults on welfare in our community and 75% unemployment. How long would you wait? The 1903 Settlement provides some hope for our people at Roseau River. They will be ready for a pipeline blockade by June if they lose hope. Three months away. Another empty threat, a bluff from Chief Nelson? Your call Canada."
Chief Terrance Nelson
On another note, the Free Press has often reported about housing adjacent to the former base being empty. To fix the record, here's a note from someone who lives in one of the houses:
"My issue is that the 300 homes on the Southside housing around Kapyong are not empty. I live there I should know. This fiction of 300 empty houses has been perpetuated by the press here in Winnipeg and needs to stop. The houses (a small percentage) that are vacant have been deemed uninhabitable or are in the middle of refurbishment. The PPCLI may have left but the 1 Canadian Air Division an 17 Wing are still very much present in Winnipeg and many live in military housing in both the north adjacent to the airbase and here on the south side adjacent to the Kapyong barracks site."


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