Every quarterly earnings statement and public comment from banks in the post-bubble period contains some discussion of a reserve fund for mortgage losses and liabilities. They always attach a dollar amount to it. If BofA knew about an AIG lawsuit seven months ago that would reshape the extent of their mortgage liabilities, and chose not to reveal that information, that’s a serious error. Is it criminal? Hard to say. The SEC has requested more disclosure on these matters. But if I were a BofA shareholder, I’d be mighty unhappy today.

Unnamed sources and materials discovered in Tripoli, where the regime’s spies monitored telecommunications, show Amesys, a unit of the French company Bull SA, assisted in the spying. Sources and materials also indicate Chinese company ZTE Corp provided equipment to Gaddafi.

That’s also true of the unexpected DC earthquake last week. The picture of the overturned lawn chair is funny and all, but because the region doesn’t get a lot of earthquakes, some of the infrastructure was unprepared. And while disaster has hopefully been avoided, this should raise caution, especially with respect to one nuclear plant in Virginia, North Anna Nuclear Generating Station.

President Obama has not yet decided what mix of proposals to include in next week’s jobs address. Specifically, he hasn’t chosen between a plan that has a chance of passing and a plan that would have less of a chance.

One must wonder, will the new HRC leader be more vocal when democrats fail to actively work for equality? Too often democrats ask for money and votes from the gay community while making great promises to support our equality – only to fail to work for equality once elected. What good is nice words when they are followed with no action? What good is a GLBT organization that refuses to press our political leadership on our behalf because it doesn’t want to make waves?

Eric Schneiderman keeps picking up support in his quest to hold a real investigation on the criminal failures in mortgage securitization and servicing. He has the support of a number of newspaper editorial boards, including the St. Louis Post-Dispatch, which devoted its Sunday editorial to an out-of-state Attorney General:

There were several jaw-dropping moments from the Dan Choi trial today, but none more dramatic than the moment Lt. LaChance of the Park Police admitted he was advised by Solicitor Randolph Myers of the Department of Interior to press federal charges against the DADT protesters on November 15 — three hours before they began protesting.

Days like this I just feel like I’m a set-builder for the theater production set to take place when everybody goes back to work. That’s not until next week, so we’re stuck with this…

Oh one less budget battle, huz-freaking-zuh!

Frankie Ballard – A Buncha Girls and Hunter Hayes – Storm Warning