Otherwise, who would fight the good fight for all those poor victims of Katrina against their crooked insurance companies... [more]
When they lose one pile of money, they go looking for other people's dough so that they can save face and get reelected. [more]
Dear Land O' Lakes, [more]
So sez the SEC, at least.
Why didn't someone warn investors about this?
Trying to get out from under that McMansion you bought on an option-ARM two years ago? Hoping for ye olde askinge pricee of "what we paid plus 7%?"
Then trust me. You don't wanna make the clickity-click on this.
Didn't take long for the guy who says he wants to change everything to revert to DC biz as uzual.
Let's see: Put straw man into power position. Make plans to slide into other power position and pull strings from there. Harass, intimidate, and jail opposition. Cut back size of usual international monitoring team. Refuse to grant visas to that team. When that team gives up, tell the conspiracy-loving Russian consituency that the growing illegitimacy of the upcoming elecion is an American plot to make it so. [more]
Here is a great post that explains why those mortgage backed securities -- even the "good" ones -- are bound to remain rotten for a long time to come. It's because the underlying loans are being made on Goldilocks underwriting standards. [more]
So much for that humorous notion that iPhone retail prices are not supported by "subsidies" or big revenue shares from the carrier. Germany gives us a glimpse of what an iPhone costs without that monthly check from the carrier to Cupertino.
Cue Mrs. Lovejoy voice. [more]
This is amazing. He calls a guy who actively supresses dissent via arbitrary jailings, sacks then restacks his nation's highest court, and otherwises fixes elections through tight media control and blatant, government-sponsored thuggery "truly... somebody who believes in democracy." [more]
What a day it's been. Early this morning, all the knucklehead business writers were reporting housing starts and completions UP, which is completely wrong, for reasons I outlined in an article on the main page. (Short story: the numbers didn't take into account the error, and they were comparing month to month, which is bogus.) [more]
So much better than that everything-to-the-moon market of a few months back. I just sold a couple more quick 30% gainers today. Those gains, of course, came because people overreacted to news on these stocks weeks or months back.Digging for the next likely score...
Falling prices... now THAT's how you make your money.
Lookie here, it costs a lot more to insure Fannie's mortgages today... [more]
Blown Mortgage alerted me to this amazing story. The summary: 2/3 of units in a 640 unit Miami Condo in foreclosure as a result of cash-back, straw-buyer mortgage fraud. [more]
MSA | Filings | filing/HH | Properties with Filings | % Change Q3 2006 [more]
Just be a pro football player and try and sell your home after a year in Phoenix.
At least this guy can afford to take the kick in the teeth. (Housing Panic with the find.)
So he can bail out the jumbo mortgage market. Sounds like a good plan: stick the taxpayer with the risk on hefty mortgages to be purchased by Fannie and Freddie.
After all, shouldn't people like you and me lend a hand to all those poor folks who want the million-dollar homes?
Read all about a typical American Housing Boom "millionaire." [more]
Giuliani, whose campaign-sponsored lies are getting so common that they're hard to keep catalogued, has another problem. He's always been big believer in cronies, and the biggie, the one he promoted for head of Department of Homeland Security, is now being indicted on criminal charges. [more]
I bought somethin' today that was getting crushed for what I think is no good reason. Sometimes you get lucky and get in on the low of the panic. After an hour or two, heads got slightly cooler, and that position was/is up 10%. [more]
Have you guys noticed the new details tabs behind the ticker/stock pages in Caps? Give them a try. Call up your favorite company and peer. Try this one, if you like. The tabs get you historical prices, estimates, growth rates, earnings, ratios, and all sorts of other info that can only be described as "teh awesome." [more]
Here's a great-looking alternative to the greedy, self-serving, unecessary Realtors out there. Let's take back that 6%!
That quarter-point rate cut the markets simply had to have really did the trick, eh Bernanke? OK, so the market eventually figured out that maybe you were done handing out free money to the overpaid clowns on Wall Street to blow on their Ponzi schemes, I mean, innovative structured finance products. [more]
So, having the flu makes you realize just how bad TV is, and just what a waste of money that expensive cable turns out to be. I found myself watching HD PBS, and a gawd-awful show called "America's Heartland" or something similar came on, waxing tearful about family farms, tractors, you know, all those myths that keep our tax dollars raining down on sub-par businesses all over the midwest. [more]
The whole thing is here. I'll post the best hatemail. [more]
You gotta see the charts and figures that Housing Doom put together on this mess. Prices nearing 2004 levels and sales still falling off the cliff. [more]
Wow. And I thought I was being harsh. That's the title of Jubak's latest column. Go get 'im, Jim!
Glad to have moved into cash last month during happy hour? I sure am. Granted, it's bathroom tissue -- I mean, U.S. dollars -- but still, better than those overpriced stocks that have come crashing back.