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Mortgage madness

Remember the time Geraldo Rivera got in a scuffle with some Nazis on his daytime talk show and people started breaking chairs over each other's heads? Well, I don't think things will go quite that far on Neil Cavuto's Fox News business-news show Tuesday afternoon, but there's likely to be broken Marialopez furniture, at least metaphorically speaking. Among his guests during the 4 to 5 p.m. show will be Judge Maria Lopez, who I wrote about in Sunday's Miami Herald. Lopez, who left her real-life seat on the bench in Massachusetts after getting in trouble for telling a prosecutor to sit down and shut up, has not exactly mellowed since becoming a TV judge.

And when she argues with Cavuto about the so-called subprime mortgage market -- that is, those cheapie adjustable-rate mortgages marketed to buyers with less than stellar credit ratings -- I don't expect the conversation to stay calm for long. Lopez sees the subprime market as a snare that entraps low-income minority buyers into mortgages they can't afford. Cavuto is, to put it mildly, no fan of conspiracy-theory economics. (Once, after listening to Bill O'Reilly argue that oil companies manipulated gasoline prices in the wake of Hurricane Katrina, Cavuto announced: "I think you're crazy.") Neither does he deal delicately with his opponents. During a tangle with economist Paul Krugman,  he snapped: "Take your column and shove it." Stand well back from your TV screen during this one.

UPDATE: IGNORE EVERYTHING YOU JUST READ -- Five minutes after I put this item up, Fox News canceled the segment with Judge Lopez. "They told me subprime mortgages are off the front page and nobody cares," she said, ignoring the more obvious explanation, which is that Neil Cavuto is a fanatic reader of this blog and fainted when he read what he was about to get into.


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That's pretty pathetic -- "nobody cares" except the preyed-upon consumers, their inability to discharge the debt due to bankruptcy "reform," and the banks that are failing or struggling due to their lending policies.

But Neil's got more T&A to feature.....

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