Las Vegas Metropolitan Police Bicyclists

click on image to enlarge. Metro on the Las Vegas Strip

Yesterday's Poll did not have many respondents:

Yet it still revealed that a majority believe Nevada's labor laws need overhaul.

Today's Rant: "The Credit Crisis and me."

The IMF (International Monetary Fund) expects the cost of our credit crisis to reach $1,000 billion, expressed as write downs and losses. This caused, in large part, by (in L.E.’s opinion) avaricious, unscrupulous recklessly negligent packagers of securities and mortgagors who probably knew (or at least should have known) that the paper they were writing was not substantial.
The ex Federal Reserve head, Greenspan, commented (in the April 7, 2008 F.T.) that regulation likely would not have stopped the collapse as bank loan officers “know far more about the risks and workings of their counterparties than do bank regulators.”
L.E. guesses that this argument may be extended and eventually us taxpayers will be blamed for the credit crisis and housing market collapse.
Here in Las Vegas we are apparently suffering more than most of our countrymen and women. Even those who are not holders of a so-called “sub-prime” note are suffering severely as our housing investment spirals downwards, often to reflect a potential sale price of many, many thousands of Dollars less that we have paid for our investment (discounting any improvements made).
L.E. conjectures that many of us may be better off financially by leasing rather than purchasing. This may be explained by adding the cost of one’s mortgage payments and insurances and taxes to date to the loss of an immediate sale, then dividing the product by the number of months of ownership. Compare the answer to lease cost for the same period. Extend the results by as long as you envision being in a home and the answer may surprise you.

Why is there no class action lawsuit against the major mortgage lenders who caused this disaster, yet still collect interest on our notes which often exceed our properties current worth? These are the same lenders whose unsound lending practices have directly caused our home values to decline substantially.

Sadly, U.S. taxpayers (and foreign investors) are the ones bailing out these institutions with our hard earned money. As encouragement to support this bailout we are to be given some of our money back. A further result of this fiasco is that our savings are lucky to return over 3% APR. This, in L.E.’s opinion, underscores the ridiculousness and ambiguity of the total situation.

Bearing the above in mind is there any wonder that the gap between the very wealthy and the poorest of us in the U.S. has widened further. Apparently in 2004-6 the nation’s wealthiest 5%, on average, were paid more than 12 times as much as the poorest fifth. This is up from nine times as much in 1987-9.[F.T April 9, 2008].

Great Animal Video for your viewing pleasure and possible enlightenment:

See a talking parrot with insight!

http://www.votenader.org/blog/2008/04/09/polly-wanna-cracker/

NEW RECIPE:

Yesterday L.E. attempted to remember his Lemon Chicken recipe. He could not remember so make up a recipe. He wanted it to be relatively healthy-without added sugar and so forth.

The result was tangy, lemony but far different than the lost recipe. L.E.'s wife enjoyed the "new" recipe and perhaps you may (L.E. is unsure). It will be available tomorrow for your convenience.

Las Vegas Gas Prices: www.automotive.com/gas-prices