4 large potatoes, peeled and quartered
1 white onion chopped
6 ounces of cheese of choice (shredded)
2 1/2 cups of skim milk
dash of salt
dash of pepper
Bring water to boil in a sauce pan, add a dash of salt to it, then add potatoes to boil. Cook potatoes about ten minutes in the pan. Preheat oven to 400 degrees. Grease a casserole dish with a butter substitute. Drain potatoes and add them to the casserole dish. Smash them with a fork. (Turn every quarter into two pieces and that'll be fine.) Add onions, add salt, add pepper. Mix. Add 2 and 1/2 cups of skim milk. Add 1/2 the shredded cheese and mix. Now drop the cheese on top of the mixture. (Which may have milk on top, that's fine.) Cook in the oven for 50 minutes.
Three different people e-mailed to let me know that I didn't know what I was talking about in yesterday's post. First off, they all three wanted me to know, home owners who lost their homes will be getting $100,000 checks, not just $2,000.
I was right. This is from Michael Hiltzick's Los Angeles Times piece:
How much of this will translate into an outlay of cash by the five banks? Not much, if any.
For one thing, even the government acknowledges that a lender typically benefits when ways are found to keep a home out of foreclosure — a lender loses an average $60,000 on every foreclosure, according to figures the federal government disclosed in connection with the settlement announcement. It's been institutional resistance and legal entanglements, not economics, that have kept more modifications from going forward.
Many of the loans destined to be modified under the settlement aren't even owned by the banks, but rather by investors — the banks just collect the checks.
Consequently, as mortgage expert Adam Levitin of Georgetown Law School observes, most of the settlement "is being financed on the dime of MBS [mortgage-backed securities] investors such as pension funds, 401(k) plans, insurance companies and the like — parties that did not themselves engage in any of the wrongdoing covered by the settlement."
What about homeowners? They don't get much, especially in relation to the scale of the housing crisis. More than 2 million owners have lost their homes to foreclosure during the last four years; this deal will provide 750,000 with a payment of $2,000 each.And this is from APM's Marketplace (link is audio and text):
Hill: Borrowers who are current on their mortgage, but also underwater will be helped out. That's gonna come in the form of refinancing their mortgages. And then some of the settlement money is gonna go to people who were foreclosed on between 2008 and the end of last year. And they could get around $2,000 each, depending on how many people actually qualify for the money.
Vigeland: $2,000, when you've lost your home?
Hill: $2,000 when you've lost your home.
This is C.I.'s "Iraq snapshot" for Friday: