Still Want a CFL?

The EPA has updated cleanup guidelines for broken CFL bulbs in a house. Considering that incandescent light bulbs are soon to be banned and LEDs are less than compelling at this point you may want to stock up. The nasty part of the mercury in the CFLs is an inhaleable form that is released when a CFL breaks. Respiratory inhalation of mercury in any amount is not good regardless of what the EPA or other pro-CFL groups present.

Mercury has long term negative physiological effects.

In humans, approximately 80% of inhaled mercury vapor is absorbed via the respiratory tract where it enters the circulatory system and is distributed throughout the body.[16] Chronic exposure by inhalation, even at low concentrations in the range 0.7–42 μg/m3, has been shown in case control studies to cause effects such as tremors, impaired cognitive skills, and sleep disturbance in workers.

Here are some highlights for cleaning broken CFL bulbs.

• Open a window and leave the area
  
• Turn off the HVAC for several hours

I recommend you read the document below as it is informative and very short.


cflcleanup -

Fannie Creates Moral Hazard

According to Bloomberg today Ally Financial, Inc. and Fannie Mae have settled on repurchase claims from Fannie in the amount of $292 BILLION for a hefty fine of $492 million.

Ally Financial Inc., the auto and home lender majority owned by the U.S. government, said its mortgage unit reached a $462 million settlement to resolve repurchase claims by Fannie Mae on $292 billion in home loans.

Excuse me, but a fine that low is insulting. Let's tell originators to go ahead and take the chance with shoddy paper - even if you get caught you'll only get a minor slap on the wrist. Where are the subpoenas? What about an appropriate level of penalty for the problem? Why can't we charge people in the financial industry for creating paper that had to be knowingly fraudulent?

Turning to "Why" points to the fact that Ally wants to have a share sale. Well we can't have a sale when there are major questions about put-backs. No problem, we'll have the government controlled mortgage backer basically give a pass to the government owned/backed mortgage originator. Great, we have now made sure that bankers get to take excessive risks (again) and possibly even commit fraud. Based on this the penalties would seem to say take the chance.

Normally I worry about government policies and the unintended consequences. This appears to just stupid policy.