Daily Archives: July 9, 2010

I did miss this today – USA Bank in Port Chester shut down today.

Thanks to Xyzzy for pointing it out. We predicted this June 25th, but I guess the FDIC gave them a two week reprieve.

(FDIC Press Release):

USA Bank, Port Chester, New York, was closed today by the New York State Banking Department, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with New Century Bank (doing business as Customer’s 1st Bank), Phoenixville, Pennsylvania, to assume all of the deposits of USA Bank.

The sole branch of USA Bank will reopen on Saturday as a branch of New Century Bank. Depositors of USA Bank will automatically become depositors of New Century Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage. Customers of USA Bank should continue to use their existing branch until they receive notice from New Century Bank that it has completed systems changes to allow other New Century Bank branches to process their accounts as well.

This evening and over the weekend, depositors of USA Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of March 31, 2010, USA Bank had approximately $193.3 million in total assets and $189.9 million in total deposits. New Century Bank did not pay the FDIC a premium for the deposits of USA Bank. In addition to assuming all of the deposits of the failed bank, New Century Bank agreed to purchase essentially all of the assets.


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Sure it saves money but …

I want a vasectomy, I’m going to a urologist.

STAMFORD — A man was shot in both legs and his genitals early Friday morning while he fled from an attempted robbery in the South End, police said.

A single gunshot grazed the man’s left leg, entered his scrotum and traveled through to his inner right thigh, where it exited, police Sgt. Anthony Lupinacci said.



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Where is Peter Tesei? Where are our tax bills?

I’m hearing from a number of readers that our new tax collector  has failed to get tax bills out by the end of June, which he is required to do. Unfortunately, property owners are obligated to pay their bill regardless of the receipt of the bill. If you drag out your check book, you can just pay the January amount but how will the town credit that, and what happens to al those homeowners whose tax payments are held in escrow by, say, Chase? Chase can’t even find the mortgages they own, let alone records of when mortgages are due.

A lot of people are about to be screwed by this man’s incompetence and so far, all I hear of Tesei is that he’s whining about a minor outage in Riverside. Leadership – it’s a wonderful thing.


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There really is no real estate news to report today. Or there wasn’t last time I checked at 2:00 (and I’m reluctant to return to the office because it’s “Old Greenwich sidewalk sales days” and shoppers have invaded our office parking lot – we could tow them, but it’s over tomorrow so ….) Everyone: buyers, sellers, agents and lawyers all seemed to have headed to the beach, and who can blame them? Next week.


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Talking ’bout the midnight rambler

Late night Oakland shopper

(Posted just to annoy “Anonymous”, who’s having fun calling me a racist today)


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Western Middle School winners

From left, Stacy Gross, principal of Western Middle School, former Viet Nam hero General Richard Blumenthal, Nicole Powers, who earned an honorable mention in the statewide Law Day Essay contest, Valerie Bolling, Western Middle School English teacher, and Sarah Zygmont, the contest's winner. (Photo, Greenwich Time)

Western Middle School gets a bad rap from prospective home buyers – not from parents who actually have kids there, but from buyers who “hear things”. So it’s great to see two winners from the school, the over-all winner of a state-wide writing contest and an honorable mention. Congratulations to the girls and their teacher.


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Obama’s Department of Justice – representing all of us?

That’s what one anonymous reader claims. I have my doubts.

DOJ staff lawyers instructed not to support efforts to remove dead, illegal aliens and frauds from voter rolls.

DOJ staff lawyers instructed not to investigate Black Panther voter intimidation case in Philadelphia.

DOJ refuses to sue to overturn San Francisco’ “sanctuary statute” protecting illegal aliens.

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I stand corrected

I defended my use of “primitive’ to describe the looting and rioting that occurred in Oakland the other day, explaining that “un-civilived”, to me sounded more like the description of a gentleman who wore his straw boater after Labor Day. But here’s an article that uses the term to describe the very sort of actions I was thinking of, so perhaps I could use un-civilized in the future.

Mob targets cops, firemen answering aid calls

 A mob lured emergency personnel to a southwestern Illinois housing complex with reports of a blaze, a shooting and other crimes, then repeatedly attacked them with fireworks and bottle rockets, police said yesterday.No one was injured in the onslaughts against firefighters and police Sunday night and early Monday near a sprawling, three-block housing complex in Alton, Ill., a 30,000-resident Mississippi River city northeast of St. Louis.

The attackers apparently intended the assaults as amusement for a crowd of several hundred adults and children who had gathered at the Oakwood Housing Complex to watch, at times requiring police to fire volleys of pepper balls to control the throng, Police Chief David Hayes said.

“It defies human logic,” Hayes said, calling the outbursts “despicable” and uncivilized. “It’s the work of hoodlums that would create a ruse like that then use those resources as target practice and fun” with firecrackers, bottle rockets and other fireworks – all outlawed in Illinois. Hayes said there have been no arrests or charges yet in the attacks

Hayes said the firefighters were first attacked when they responded to reports of a Dumpster fire near the complex about 10:20 p.m. Sunday.

“Our firefighters got in there and started doing their thing, and out come the fireworks” including bottle rockets and Roman candles, said Mark Harris, a deputy fire chief.

Police officers and firefighters were attacked again when they returned to the neighborhood to douse a blazing box early Monday.

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Eliminate all taxes? Ah, but here’s the rub

There’d be no room for graft for political favoritism

Anyway, toward the end of today’s article Laffer has a stunning proposal:

Any government program that would reduce unemployment has to make working more attractive for both employer and employee. Since late 2007 the federal government has spent somewhere around $3.6 trillion to stimulate the economy. That is a lot of money.

My suggestion would have been to take all $3.6 trillion and declare a federal tax holiday for 18 months. No income tax, no corporate profits tax, no capital gains tax, no estate tax, no payroll tax (FICA) either employee or employer, no Medicare or Medicaid taxes, no federal excise taxes, no tariffs, no federal taxes at all, which would have reduced federal revenues by $2.4 trillion annually. Can you imagine where employment would be today? How does a 2.5% unemployment rate sound?

It’s a valid point.

Yes, it is. In fact, it makes perfect sense. However, there’s no room for “income redistribution,” graft, rewarding political allies and punishing political enemies, or increasing the power and control of the federal government in it. Therefore there is no chance in hell of it ever happening, certainly not under any Socialist Democrat administration, and especially not under the Obamarxist administration.

Sadly, not under a GOP administration, either.


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Obama’s Justice Department to investigate Oakland verdict

A jury convicted the Oakland cop of second degree manslaughter which was not sufficient for the pols in Washington. The jury heard the evidence, so who is Obama or his henchman, Holder, to second guess them?

While we’re on the subject, Obama spokesman Gibbs was asked yesterday why, if the DOJ was suing Arizona for supposedly violating federal immigration laws, the department wasn’t also suing San Francisco and other similar cities that have enacted “sanctuary laws” that also violate federal immigration statutes? Gibb’s response? “Gee, I really don’t know.” Call me, Mr. Gibbs, and I’ll give you hint.

Finally, is there no black leader out there who can convince his people that “protesting” verdicts they don’t approve of by robbing, stealing and looting from their own people is self-defeating and primitive?


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Thanks for all your well wishes

Seem to be back to at least 75% for which I’m grateful. Lost ll the strength in my legs, and was jut completely exhausted without strength to do anything. But better now and if the hot weather breaks, that will no doubt also help.

And I do regret missing the circus at the Boys & Girls Club last night. I’m not a basketball fan but I do love spectacles. The rumor I heard, which seems as plausible as any, is that he announced in Greenwich because he was staying he stayed at former Knick Allen Houston’s new mansion up on Conyers Farm. So maybe he was closer to joining the Knicks than was thought?


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Why I’m not a global warming alarmist.

Because the people who claim they are, are not. And if they aren’t worried, why should I be? Instapunit:


Hundreds of fans bound for Durban for the Germany-Spain World Cup semi final missed the game because their flights were unable to land, after air traffic authorities closed the city’s airport because of congestion on the runway caused by private aircraft.

The situation was described as “absolute chaos” by the pilot of one British Airways flight which took off from Cape Town in mid-afternoon but was diverted to Johannesburg. . . . Wire services reported that among the VIPs heading for the semi-final by jet were Spain’s King Juan Carlos, South African President Jacob Zuma, actor Leonardo DiCaprio and socialite Paris Hilton. The BA pilot, who held his plane for around 45 minutes above Durban in the vain hope of getting a landing slot, told passengers he had no choice but to take the plane to Johannesburg because the plane’s fuel was starting to run low. He announced that the problem was caused by the airport allowing too many private jets to land at Durban, leaving the runways clogged up and unable to accept scheduled flights.

Remember this when you get the next DiCaprio lecture on global warming. As was said before: “How desperate could the planet’s plight be if the people who present themselves as most concerned about it consider flying first-class commercial an unacceptable sacrifice?”

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Mothers everywhere, let this be a caution

A face only a mother could (once) love

Man holds mother hostage for refusing to iron his clothes. “Ironing is woman’s work”, he claimed. Same for washing dishes, probably. Be careful out there.

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High end mortgages defaulting at 12%, twice rate of lesser ones

You could have read the same story here first last December 17th but if you did, you clearly don’t work for The New York Times, who only today discovered the phenomenon. I point this out not to embarrass that fine paper (well okay, there is that) but to illustrate why  newspapers are walking dead – by the time they get around to printing something, the only people who don’t already know about it are those without access to the Internet. And that’s a dwindling number of people.


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Chris Christie for president!

Privatize, privatize, privatize. From Business  Insider:

Here’s more on why New Jersey Governor Chris Christie is the hottest GOP politician around.

NorthJersey.com (via Drudge):

State parks, psychiatric hospitals and even turnpike toll booths could also be run by private operators, according to the 57-page report on privatization obtained by The Star-Ledger. Preschool classrooms would no longer be built at public expense, state employees would pay for parking and private vendors would dish out food, deliver health care and run education programs behind prison walls.

All told, the report says, New Jersey could save at least $210 million a year by delivering an array of services through private hands.

States all around the country are in budget messes, but Christie is clearly standing out for his willingness to do a number of things: actually cut spending, and actually stand up to public sector workers, who make other politicians in other states cower in fear.

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