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January 2008

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5

An Update on Stinger Systems

January 30, 2008 – Comments (5)

...is here. Some of you folks might remember them.

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11

Home Prices Tanking at Accelerating Rate

January 30, 2008 – Comments (5)

Yowch, the Case-Shiller numbers show home prices in the 10-and 20-city indexes taking around 8% year over year, and that's only for as far back as November. You gotta eyeball the PDF.  [more]

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7

Guess Who Lenders *Don't* Trust

January 29, 2008 – Comments (4)

Great post on blownmortgage about the one set of folks the lending community wouldn't issue stated income loans to.

The Alt-A lump is still coming. When it hits, what will the quick-fix politicians and bureaucrats have left to try?

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7

So much for "stimulus"

January 29, 2008 – Comments (2)

I've seen a lot of articles like this. Our quick-fix politicians better hope people don't save, or their stimulus package will do even less.

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6

Why pay your bills?

January 29, 2008 – Comments (1)

When you can walk away?  [more]

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4

Got Puts?

January 29, 2008 – Comments (0)

Ahh, that cranky TMFBent, telling us to buy our puts, right?  [more]

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15

Hillary for President!

January 28, 2008 – Comments (14)

Ugh, not with ridiculous, nonsensical garbage like this:  [more]

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6

Florida Builder Was Right

January 28, 2008 – Comments (6)

wicked right. And before the street... I, for one, am not surprised.

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8

U.S. Real Estate Ponzi Scheme in a Nutshell

January 28, 2008 – Comments (3)

Watched this last night on 60 minutes. A pretty good summary of what went wrong.

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4

Not Our Fault! says Soc-Gen

January 28, 2008 – Comments (1)

After all, unwinding those trades, we were only 8% of the futures market. That's not enough to cause a crash! You believe that?

But in its explanatory note released on Sunday, the bank defended itself by saying the trades represented no more than 8.1 percent of the volume in futures trading each day on the Eurostoxx, DAX and FTSE.

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13

Bernanke: Ignorant AND Jumpy

January 25, 2008 – Comments (10)

Just visit housingpanic to be kept up to date on how the SG unwinding prompted and/or fanned the flames the big selloff. Of course, that had nothing to do with Helicopter Ben's surprise rate cut. That decision came on the heels of new economic data that showed "downside risk" -- so those clowns at the Fed claimed in their press release.  [more]

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12

Throw ALL the bums out

January 24, 2008 – Comments (12)

Economic stimulus my tuckus, this is a banker welfare program extraordinaire.  [more]

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3

Google Maps for Windows Mobile (snicker)

January 24, 2008 – Comments (0)

Wow, when I first got my samsung blackjack, I tried Google's maps application. It was clunky and not so great, but workable. I much prefer Windows slick "Live Search" for mobile, which has been constantly updated, and now includes a killer feature: just speak your info and it gets it (nearly all of the time, in my experience.)  [more]

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5

The Crook and the Panicky Cowardly Fed

January 24, 2008 – Comments (0)

This post at HousingPanic says a ton.

Global selloff possibly caused simply by the unwinding of a rogue trader's scumbaggery, and Bernanke, confused, afraid, and too brittle to stand his ground, decides to burn our currency in response rather than let markets be markets.

There's leadership for ya.

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3

TheGreatSatin

January 24, 2008 – Comments (2)

I think that would be an excellent variant for a user name based on one of our long-term leaders.

END COMMUNICATION

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7

This Ought to Inspire Confidence...

January 24, 2008 – Comments (1)

Nothin' like a $7 billion fraud, on top of other, more generally terrible business decisions, to give you faith in France's big banker.

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27

Desperate Bernanke Panics

January 22, 2008 – Comments (10)

So wait, what's Inkjet Bennie's job again?  [more]

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17

Greedy Desperate Realtors Crying Again

January 17, 2008 – Comments (6)

They're a tad worried that the "stimulus" packages being mulled might not include a way to try and keep the air in overpriced housing, so they're ordering the politicians to raise the loan limits for Federally-mandated programs designed to provide affordable housing.  [more]

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17

Apple's Hilarious iPhone GPS update

January 16, 2008 – Comments (7)

IMG_1769  [more]

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6

Swan Song

January 16, 2008 – Comments (3)

Great told-ya-so post here on housingpanic about a synonym-slinging Realtor from Phoenix, Greg Swann, who, despite living in the poster-city for ridiculous speculation, confidently predicted that those who were telling the truth would be bawling.  [more]

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5

Terrible CEOs, Same Big Egos & Paychecks

January 16, 2008 – Comments (0)

Great post on blownmortgage about the hubris of Indymac's chief monorail/band uniform salesman, CEO Mike Perry. Said he deserved every penny of his overly huge compensation package for the great shareholder returns he delivered. Now that his stock is a laughingstock, his company is on the verge of oblivion, doing whatever it can just to scrape by, how much of that huge pay package do you think he'll be returning?  [more]

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11

Government Propaganda Paves the Way for Inkjet Bennie

January 16, 2008 – Comments (1)

The CPI index is out today, and I'm more amazed than usual at the way the text is written to try and downplay the reality of inflation. Instead, the dry verbiage opens up by flogging a non-seasonally-adjusted drop in prices, month-to-month.  [more]

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16

Tools at NAR Step Up the Desperate Propaganda

January 14, 2008 – Comments (7)

Here's their latest pile of hip-wader-necessitating "fact" about real estate.  [more]

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12

Behold Bernanke's Power!

January 11, 2008 – Comments (4)

Good old Inkjet Bennie. He managed to float the market for an entire day with his new helicopter pledge. Maybe he should have unbagged those wads of money, though, because it appears that tossing out one-ton sacks might have squashed traders flat. Today's drop obliterated yesterday's good time, alas, but hey, he can always make another speech, right? Maybe drop rates 2% in one swoop?  [more]

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9

Hipwaders Necessary for Ara Hovnanian

January 11, 2008 – Comments (5)

I used to think this guy was a straight shooter. He's on my liar list now. Look at this crock o' crispy:  [more]

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10

Mozilo's Head on a Pike

January 11, 2008 – Comments (7) | RELATED TICKERS: CFC , BAC

Investors should be screaming for it. This lousy, double-talking, cowardly CEO dumped his last load of shares at more than 2x the buyout price he arranged from Bank of America. This is one of the most amazing loot 'n' run jobs I've ever seen. I hope he pays the price, but I doubt it. Those who swindle with the pen rarely get in trouble.  [more]

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23

Bernanke: To Heck with Inflation! Must Support Asset Bubble!

January 10, 2008 – Comments (10)

There you have it, more destruction of your savings by a guy who doesn't have the guts to let the economy (or rather, certain, over-inflated segments) take the beatings they so richly deserve.

His solution? Inflate away the problem and pretend everything is fine.

Greenspan II.

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5

UK Getting Nailed by Housing Bubble Pop

January 10, 2008 – Comments (2)

Thanks to Housing Doom for pointing this one out. 

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11

Countrywide's "Recreated" (Certainly-not-forged) Bankruptcy Evidence...

January 08, 2008 – Comments (8)

This is simply incredible.

"“These letters are a smoking gun that something is not right in Denmark,” Judge Agresti said in a Dec. 20 hearing in Pittsburgh."

And Mr. Orange wonders why people consider his company sleazy?

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5

Calling BULLSPIT on the NAR's New Propaganda Campaign

January 08, 2008 – Comments (3)

Housing Doom does a very good job here.

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27

Simpsons Zing Condo Bagholders

January 07, 2008 – Comments (1)

condo

Thus read the chalkboard gag on last night's episode. 

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