Use access key #2 to skip to page content.

May 2008

Recs

6

Stupid Bail-Out du Jour

May 31, 2008 – Comments (2)

From the WSJ:  [more]

Recs

9

For Those Who Don't Believe in Bubbles

May 30, 2008 – Comments (13)

VN pain

I give you... the Vietnamese stock market index. 

Recs

6

J Crew CEO Gets an F for Effort

May 30, 2008 – Comments (2)

This is pretty funny.  [more]

Recs

12

SEC to Sit on Debt Rating Scam?

May 29, 2008 – Comments (6)

Ask folks in the know about the entire mortgage backed securities Ponzi scheme, and they'll tell you that a prime cause was the bogus ratings applied to these un-knowable, unfamiliar securities by the ratings agencies. The mirage that fooled investors the world over into buying these things ("triple-A = safe") not only spawned the industry, it made instant riches for banks, ratings agencies, monoline insures, lenders, hedge fund managers and HELOC-dependent U.S. consumers.  [more]

Recs

23

A note to the NY Times...

May 29, 2008 – Comments (1)

I just sent this to one of the Times business writers, the guy who typically reports on housing numbers from the government without putting them into the right context, or bothering to mention their relative reliability. (Something we discussed here.)  [more]

Recs

3

HELOCs Even More Worthless

May 29, 2008 – Comments (0)

Great discussion at Calculated Risk of a recent ruling that sets a disturbing precedent (at least if you hold HELOCs or MBSs based on them.)  [more]

Recs

9

Obama Panders to Bagholders in Nevada

May 27, 2008 – Comments (10)

Pretty familiar story: pour $30 more billion into other people's bad financial decisions. Either don't pay for it at all, or tax the people who didn't make the stupid decisions (what, 98% of the rest of us?)  [more]

Recs

8

Hear the One about the Deadbeat Congresswoman?

May 26, 2008 – Comments (4)

No big deal by California standards. She only defaulted on a measly three homes.  [more]

Recs

3

Housing Bubble: It Weren't Just for the Coasts

May 26, 2008 – Comments (0)

Think the housing bubble only happened in places where they "ain't making more land?"  [more]

Recs

9

What do houses really cost?

May 23, 2008 – Comments (6)

Here's another one of those stories that suggests even the rapidly dropping home prices are overstated. As at the height of the bubble, people are offering big incentives, like these folks who offered their car (not so original, and in this case, not so great... a 2000 Mustang?). Of course, the price of these givebacks doesn't appear in he home price, but they're certainly a factor, meaning wherever they're used and not netted out, the home price is inflated.  [more]

Recs

5

A cool tool

May 22, 2008 – Comments (2)

PolicyMap - Killer tool for real estate [more]

Stolen straight from Blown Mortgage.

Sj

Recs

8

Housing Affordable Now?

May 21, 2008 – Comments (3)

Here are some interesting numbers I get once a month.

Recs

14

Map the "Crisis"

May 19, 2008 – Comments (9)

Falls Church Loan Performance  [more]

Recs

5

Preying on Faith

May 19, 2008 – Comments (3)

This story is all too familiar. "Investment managers" who can talk the talk extracting large sums from groups of faithful, pay out some of the later takings to early "investors" a la Ponzi, then, well, you know the rest.  [more]

Recs

13

Consumer "Income" Dropping More and More

May 16, 2008 – Comments (6)

because the housing ATM is not only out of money, it's getting unplugged, machine by machine.

Chase Wholesale Eliminates 2nd Mortgages [more]

Sj

Recs

6

Big Day for Housing Lies

May 16, 2008 – Comments (3)

Put on the hip waders today, folks, because the ignorant and/or intentionally untruthful (is it possible to be this dense?) are going to be saying this all day: "Surprising increase in housing starts."  [more]

Recs

10

Internet Sales Taxes: Coming Soon to a Webtailer Near You

May 15, 2008 – Comments (12) | RELATED TICKERS: AMZN , NFLX

This is a pretty smart blog item about the ridiculous position taken by outfits like Amazon.com regarding sales tax: that it's too tough to figure out what to charge, and how.   [more]

Recs

9

Important Remarks from FHA Head

May 15, 2008 – Comments (1)

The FHA is the agency -- originally created to guarantee loans for low-income earner housing -- that the boneheaded Barney Franks (and Ben Bernankes) of the world want to bail out bubble-blowers by forcing taxpayers to back billions of extra dollars worth of lousy mortgage loans and bankrolling overpriced housing. (What this would actually represent is a major, publicly-funded gift to banks, who would get more for their lousy CDOs than they'd otherwise receive, while locking homedebtors into mortgages they'd be better of ditching...)  [more]

Recs

8

Farmer Ben's Lessons on Timeliness

May 15, 2008 – Comments (0)

Hey! Is that a cow's butt down yonder? Waaaay down there, about 2 miles out? Huh, looks like the whole herd, maybe.

Well, then I'd better shut this door right now!

Bernanke: Banks need to bolster risk-management- AP

Sj

Recs

10

Bernanke Stole My Milk Money

May 14, 2008 – Comments (3)

Thanks a ton, Benny and the Inkjets.  [more]

Recs

14

How to lose $17 billion in a few days...

May 12, 2008 – Comments (6)

Convince yourself that your leveraged beta is great "alpha" and continue making overly risky bets with only a sliver of equity to absorb the losses. Oh yeah, and pass the blame when the bankers finally wise up and pull the plug on your margin.  [more]

Recs

5

mobile test post

May 09, 2008 – Comments (1)

just testing the capabilities of a new beta browser for windows mobile smartphone. works Way better than IE for smartphone, displays pages in original form and everything.

Recs

13

Attention Steve Balmer: Don't Be and Idiot

May 07, 2008 – Comments (7) | RELATED TICKERS: MSFT , YHOO

Don't make me come out there and smack your round head, Steve.  [more]

Recs

4

I wasn't prepared for this...

May 07, 2008 – Comments (0)

President Bush is doing something somewhat courageous, and quite right: telling bleeding-heart political opportunists like Barney Frank and Chuck Schumer where they can stuff their latest, short-sighted bailout plans.  [more]

Recs

11

Coming Soon to a Bailout Plan Near You

May 07, 2008 – Comments (6)

Lawrence Yun, the discredited but still vocal mouthpiece for the National Association of Realtors, demands that congress provide yet more market-warping tax-giveaways so that he and his audience of six-percenters at the NAR can get their commission checks.  [more]

Recs

2

Great News from the Stooges at the NAR

May 07, 2008 – Comments (1)

Go figure:

Pending Home Sales Hit Record Low in March- CNNMoney.com

The number of homes under contract for sale fell in March, hitting a record low for the second consecutive month, according to a report released Wednesday.

Recs

4

David Lereah's Re - Conning of America

May 07, 2008 – Comments (0)

So, first this guy talks millions of people into buying far more home than they can afford. Then, when that scam falls apart, he leaves the National Association of Realtors and skedaddles for some Web outfit. Now he's advising Wall Street on how to clean up investing in the wreckage of the disaster he created.  [more]

Recs

2

Not Helping Nigeria's "Business" Reputation

May 07, 2008 – Comments (0)

Owner Of Multimillion-Dollar Home In Northwest EvictedWRC-TVupdated 10:25 a.m. ET, Tues., May. 6, 2008

WASHINGTON - The owner of a multimillion-dollar home on Foxhall Road in northwest D.C. was evicted on Monday.   [more]

Recs

16

Best YHOO-MSFT Quote Out there...

May 06, 2008 – Comments (0) | RELATED TICKERS: YHOO , MSFT , GOOGL

Rather than try to eat its prey while it's warm and tough, (Microsoft is) dragging it down to the bottom of the river, sticking it under a rock and eating it later when it's cold and soft...

--Todd Dagres of Spark Capital...

 

Recs

2

These just don't seem to go together...

May 06, 2008 – Comments (2)

Stocks Lift Even as Oil Prices Soar- AP

Stocks reversed early losses to trade modestly higher Tuesday, as investors monitored the movements of record-high oil prices but still laid bets that the economy and companies are in recovery mode.  [more]

Recs

14

How To Push Your Stock Up 4%

May 06, 2008 – Comments (5) | RELATED TICKERS: FNMA

Simplicity itself.  [more]

Recs

4

RE Pumping Crybaby Doesn't Like the Numbers

May 06, 2008 – Comments (0)

Just when you think he can't get any more conflicted, NAR chief economic stooge, Lawrence Yun, cries about what the numbers are saying about home price declines.  [more]

Recs

4

Do The Math

May 06, 2008 – Comments (0)




Mortgage loan calculator

Found this morgage calculating widget via BlownMortgage. Pretty cool. 

Recs

7

Why DC Real Estate is Doomed

May 05, 2008 – Comments (7)

rent or buy inputs  [more]

Recs

7

Mortgage Workouts: Who Wants Them?

May 05, 2008 – Comments (5)

I asked someone in the lobbying game who it is that's pushing congress for all these mortgage workouts and bailouts. I got a two-word answer: hedge funds.

Raise your hand if you think you know why.

Recs

3

Still More Warren and Susan and Fawning Fans

May 03, 2008 – Comments (0) | RELATED TICKERS: BRK

Recs

3

Buffett and Susan Lucci

May 03, 2008 – Comments (0)

Might as well start the rumors here.

Let me just say (and Bill Mann agrees) that this lady is truly stunning. 

Recs

7

Berkshire...

May 02, 2008 – Comments (8)

Spending some quality time in Omaha, so I might have to blog about something other than the sorry state of housing, or total scams. Maybe the story of the dude on the plane who asked for "bloody Mary mix, and milk."  Or shall we, no, let's not discuss the cattle-like stench that permeated the airplane. I blame the vinyl seats, and I'll say no more.   [more]

Recs

5

SEC Nails Globetel

May 02, 2008 – Comments (1)

LR-20550May 1, 2008GlobeTel Communications Corp., Timothy J. Huff, Thomas Y. Jimenez and Lawrence E. Lynch
See also: Complaint in this matter

Who would have thought this? Oh yeah, this guy.  [more]

Recs

5

Even Canseco Walks Away from his House

May 01, 2008 – Comments (3)

Back in March, Pat Jordan hilariously wrote of his attempt to interview infamous ballplayer Jose Canseco. As noted above, Mr. Canseco seemed to be having some money problems. Today, Reuters reported that Mr. Canseco is walking away from one problem. The former baseball star and author of “Juiced,” the controversial 2005 expose of steroid use in Major League Baseball, said Thursday that he lost his California mansion to foreclosure.   [more]

Recs

11

Slipper Slope for Bagholders of America

May 01, 2008 – Comments (8)

Great post at Blown Mortgage on the slippery slope of principal reductions at Bagholders of America, and what it means industry wide.  [more]

Featured Broker Partners


Advertisement