---

Senior climate scientist queries temperature data ‘adjustments’
...“And I must admit that those adjustments constituting virtually all of the warming signal in the last 40 years is disconcerting. When “global warming” only shows up after the data are adjusted, one can understand why so many people are suspicious of the adjustments,” he said in a blog post on the problem this week....

---

Free fall: How government policies brought down the housing market
...The affordable housing goals imposed on Fannie Mae and Freddie Mac in 1992 were the major contributors to both the deterioration in underwriting standards between 1992 and 2008 and the growth of an unprecedented ten-year housing bubble that suppressed delinquencies and stimulated the growth of a private securitization market for subprime loans. But other government policies are also to blame for the deterioration in the US housing market, including the thirty-year fixed-rate mortgage, the mortgage interest tax deduction, the right to refinance without penalty, and the Community Reinvestment Act. Until Fannie and Freddie’s market dominance and the government’s role in the housing finance system are substantially reduced or eliminated, the United States will continue to have an inferior and unstable housing market....

...In 1995, expanding the idea in the Best Practices Initiative, HUD issued a policy statement titled “The National Homeownership Strategy: Partners in the American Dream.” The first paragraph of chapter 1 leaves no doubt about what HUD had set out to do: “The purpose of the National Homeownership Strategy is to achieve an all-time high level of homeownership in America within the next 6 years through an unprecedented collaboration of public and private housing industry organizations.” The paper then made clear that reducing down payments would increase homeownership: “Lending institutions, secondary market investors, mortgage insurers, and other members of the partnership should work collaboratively to reduce homebuyer downpayment requirements. Mortgage financing with high loan-to-value ratios should generally be associated with enhanced homebuyer counseling and, where available, supplemental sources of downpayment assistance.”

HUD’s policy was successful. In 1989, only 1 in 230 homebuyers bought a home with a down payment of 3 percent or less, but by 2003, 1 in 7 buyers was providing a down payment at that level and by 2007, the number was less than 1 in 3.10 The program’s contribution to the reduction in home equity and the subsequent increase in leverage is obvious....

...In 1993, for example, shortly after the goals were adopted, the FHA began to increase the percentage of its loans that involved down payments of less than 3 percent; these went from 13 percent in 1992 to 28 percent in 1996. From there, they rose sharply to more than 50 percent in 2000, coinciding with another increase in the AH goals. After that, the FHA’s percentage of these risky loans began to decrease as the GSEs—which were off-budget enterprises—took on more of the risky loans necessary to meet the increasing AH goals....

...Thus, although there were strong incentives for making CRA-type loans, the actual numbers and their delinquency rates are hard to find. However, in its 10-K annual report to the Securities and Exchange Commission for 2009, Bank of America made one of the few bank references to CRA loan quality: “At December 31, 2009, our CRA portfolio comprised six percent of the total residential mortgage balances, but comprised 17 percent of nonperforming residential mortgage loans. This portfolio also comprised 20 percent of residential net charge-offs during 2009.”...

---

Undoing Glass-Steagall Did Not Cause Crisis
...There's no evidence any bank, including Citibank, got into trouble because of a securities or insurance affiliate. The banks that suffered subprime losses were engaged in activities — namely, mortgage lending — that were always permitted by Glass-Steagall. And none of them was affiliated at the time with the investment banks that got into trouble — namely, Lehman, Bear Stearns and Merrill Lynch, which overinvested in subprime securities. And they did so after Fannie Mae and Freddie Mac made a huge market for such investments in response to political pressure from HUD to meet affordable housing goals. Finally, Glass-Steagall deregulation had nothing to do with the gutting of traditional mortgage underwriting standards — the core cause of the crisis....

---

The Population Control Holocaust
There is a single ideological current running through a seemingly disparate collection of noxious modern political and scientific movements, ranging from militarism, imperialism, racism, xenophobia, and radical environmentalism, to socialism, Nazism, and totalitarian communism. This is the ideology of antihumanism: the belief that the human race is a horde of vermin whose unconstrained aspirations and appetites endanger the natural order, and that tyrannical measures are necessary to constrain humanity. The founding prophet of modern antihumanism is Thomas Malthus (1766-1834), who offered a pseudoscientific basis for the idea that human reproduction always outruns available resources. Following this pessimistic and inaccurate assessment of the capacity of human ingenuity to develop new resources, Malthus advocated oppressive policies that led to the starvation of millions in India and Ireland....

---

Oh my: Obama White House paying women employees less than men?
...Female employees in the Obama White House make considerably less than their male colleagues, records show.

According to the 2011 annual report on White House staff, female employees earned a median annual salary of $60,000, which was about 18 percent less than the median salary for male employees ($71,000)....

Deputies force repo man to return detective's truck
...The wrecker driver says he pulled into a parking lot at the jail to call the sheriff’s office and report the repossession, a routine procedure. Seconds after he drove away, Huff said three cars pulled up alongside him, boxing in his wrecker. The cars were unmarked, the men in civilian clothes, but Huff says they all had guns pointing right at him.

“I really thought I was gonna get shot right then,” Huff told Davis. “I had my hands up here on the window so they could see them. The officer was yelling at me. He said, ‘That’s my wife’s truck.’”

That officer was Keith Winford, a Montgomery County Sheriff’s detective, who Local 2 confirmed, is married to Tammy Berkley. Winford was accompanied by three to four other deputies.

“He just grabbed me out, slammed me up against the truck right here,” said Huff....

Oceans Started Warming 135 Years Ago, Study Suggests
The world's oceans have been warming for more than 100 years, twice as long as previously believed, new research suggests....

---

Hansen: Morality of fossil fuel emissions on par with slavery
...Averting the worst consequences of human-induced climate change is a “great moral issue” on a par with slavery, according to the leading Nasa climate scientist Prof Jim Hansen....

Progressivism and the authoritarian impulse
...There is no answer to that question once you step outside of the liberal calculus in which all persons, no matter what their moral status as you see it, are weighed in an equal balance. Rather than relaxing or soft-pedaling your convictions about what is right and wrong, stay with them, and treat people you see as morally different differently. Condemn Limbaugh and say that Schultz and Maher may have gone a bit too far but that they’re basically O.K. If you do that you will not be displaying a double standard; you will be affirming a single standard, and moreover it will be a moral one because you will be going with what you think is good rather than what you think is fair. “Fair” is a weak virtue; it is not even a virtue at all because it insists on a withdrawal from moral judgment....