Really, how much oversight can you expect from the poor guy. Why should he take any blame, or admit to any mistakes? [more]
Is being the first one to buy cheap junk really worth more than the life (lives) of your neighbors? [more]
I defer to Floridabuilder on all things homebuilder, but if you have followed his advice on what to look for in a potentially bankrupt public builder, and you've looked at some recent press releases, you will, I believe, see some of what he's been talking about...
As some of these continue to pop up, I'm putting in place some speculative short positions. Small moolah, capping the potential losses, etc.
is this the best reporters can do? [more]
Come on, guys... This is "reporting?" [more]
Don't talk to them about a rainy day fund, the three to eight months of living expenses that financial advisers recommend everyone set aside as a cushion. Goldman burned through his in a few months. "Oh my God, is that even realistic?" Alenia Johnson asked, laughing at the idea. "Who can afford to do that?" [more]
Like a horror-movie monster that just won't die, the grotesque blimp story continues, even for the scraps of penny-stock nightmare Globetel. The leftovers, called Sanswire, are trying to ride Obama's coattails, I'm guessing to try and pump a little air into the share price. [more]
Remember, the knuckleheaded "save the mortgage" plan these two are shoving down taxpayers' throats relies on math that was already way way too optimistic. Existing workout numbers were showing far greater failure rates than those assumed by Bair in announcing her bogus taxpayer price tag for the deal. [more]
Wasn't it just a week ago that Paulson said we didn't need to buy up or guarantee toxic assets, that simply handing out money to shore up capital was good enough? Citi has gotten GOBS of extra capital, both from government and private overseas bagholders, and it now needs another $20-$250 billion worth of taxpayer largesse? [more]
So, the homebuilders, the second biggest bunch of crooks in this nation (following the bankers who sliced, diced, traded, sold, and misrepresented all those mortgages and the frankensteins that followed), want a $250 billion taxpayer-funded bailout. [more]
Consumer prices post biggest monthly drop on record. Gobnmint numbers are here, but, of course, they don't measure stuff the way it used to be measured, so you can't make that claim on an apples to apples basis. Still, prices are dropping, though year over year, we're still paying more for stuff. [more]
New York Times, official home of bleeding-heart reporters who can't tell the difference between stupid financial decisions, unsupportable greed, and untenable costs of living. [more]
Is this really the best we can get, from the guy that cueball no. 1 (Paulson) picked to save America by buying up
horrifyingly rank piles of crap temporarily imparied mortgage securities: [more]
Just a quick observation. Head to the commerce department's web site and try to find the latest economic figures quickly. [more]
Very interesting numbers here. [more]
Dodd and Bair (the FDIC) still can't get it through their thick skulls that there's nothing they can do that can stop the drop in housing prices. Foreclosures are only a symptom, really, of the problem, which was simple: People borrowed more than they could afford to pay because they assumed they would not HAVE to pay. They assumed they would refinance, cash out at an inflated price, or they didn't bother to do the math at all. [more]
Ahead of G-20, Bush Defends Capitalism
Bush will offer a defense of capitalism and the American financial system in a speech Thursday, ahead a G-20 meeting that is likely to feature criticism of the U.S. [more]
Paulson Calls for Investment in Monorail, Band Uniforms [more]
He's admitting it via actions. Too bad he doesn't have the words. [more]
Scary and funny and true.
Welcome to the socialist welfare state, brought to you by a Republican administration and 8 years of unrestrained corporate greed.
Amazing, isn't it? And to think, it's for our own good.
" I have a plan to protect the value of homes and get them rising again by refinancing mortgages so your neighbor won't default and further drag down the value of your house."
The final untruth in a campaign full of them. This guy once said he didn't know much about the economy. He doesn't know much about when of stop with the B.S. either.
And hundreds more like them. [more]