Somebody else watch this and tell me if Mr. Loaf rides up on a Harley before I bother. Tanta, you are waay smarter than me, am I missing something? Is this the music they pump into the boileroom to lull the borrowers into signing anything just to stay awake?
That's amazing, Rob Dawg, I had actually tossed around "Hot Patootie" as this week's theme. I guess I have too much respect for Meatloaf to cheapen him by comparison to the mortgage market.
"I'm Not Lisa" is a great country and western song. I can't do anything for anyone who just hates country. No one who loves grunge has ever been able to do anything about me. Helpless, helpless, we're all helpless. Damn, I shoulda gone for Neil Young.
You probably have to have waded through a couple dozen PRs this week to get the "I'm not subprime!" joke.
I'm always surprised by how defensive you are about your musical tastes. I don't really understand why it is the case - after all it is your taste. What does the opinion of the masses matter?
Do I sound defensive? I didn't mean to. Normally when I think I have a taste that other people wouldn't approve of and I happen to find myself caring about what other people think--not that that's ever happened to me, but still, hypothetically--I just refrain from waving it all over the blogosphere.
In other words, I'm being silly. As it happens, I think this particular recording is awful. But it's the only one I could find of the song, which I have always gotten a major kick out of.
Plus, it's just really difficult to have a taste for kitsch and a taste for real art at the same time. Last week I posted a vid of one of the greatest sopranos of the twentieth century signing one of the greatest arias of all time, and people whined. Of course, they were kidding, too.
I was watching NHL playoffs the other evening. The sound was muted so I was reading the closed captioning. I guess they have some sort of semi-automated voice recognition system for creating the captions.
Maybe it just got confused by the Canadian accents, but for whatever reason the captions were reporting on a game between:
I developed a taste for country because it was all I could get on my crystal radio as a kid
...
or on those long drives between cities late at night on the back roads of Alabama as a teen, all that the car radio could pick up.
The smell of dew, gas, oil and wild flowers coming in the window and the drone of country from the radio going out.
More than 100 local employees abruptly lost their jobs Friday as a Mountlake Terrace-based mortgage lender closed its doors, a victim of the turmoil in the riskier end of the home-loan industry.
I want to purchase Alt-A Tranches
With the No-Docs and some NINJA Balloons
Over 620 FICO tranches
So I'm sure they won't go belly up too soon,
They won't foreclose too soon.
SISA/SIVA - $2091 which is 48% of total
REDUCED - $1346 which is 31% of total
Luminent Mortgage Trust 2006-1 & 2 has a total of only $136 mil under SISA/SIVA Vs 1057 mil against REDUCED. Luminent Mortgage Trust 2006-3 through 7 has a total of 300 mil under REDUCED Vs 1850 mil under SISA/SIVA.
Did LUM use different set of rules to classify SIVA/SISA starting with Luminent Mortgage Trust 2006-3?
While I admit my tastes run more to 80s punk I am pretty eclectic. This song however just never went anywhere if you know what I mean. Besides if you were looking for an allegory to sub-prime then what about Milli Vanilli? Just to show you I'm not a complete headbanger your song immediately reminded me of a better one:
Parton, Ronstadt & Harris singing:
They say a woman's a fool for weeping
A fool to break her own heart
But I can't hold the secret I'm keeping
I'm breaking apart
Can't seem to mind my own business
Whatever I try turns out wrong
I seem like my own false witness
And I can't go on
I cover my ears I close my eyes
Still hear your voice and it's telling me lies
Telling me lies
You told me you needed my company
And I believed in your flattering ways
Told me you needed me forever
Nearly gave you the rest of my days
Should've seen you for what you are
Should never have come back for more
Should've locked up all my silver
Brought the key back to your door
I cover my ears I close my eyes
Still hear your voice and it's telling me lies
Telling me lies
You don't know what a chance is
Until you have to seize one
You don't know what a man is
Until you have to please one
Don't put your life in the hands of a man
With a face for every season
Don't waste your time in the arms of a man
Who's no stranger to treason
I cover my ears I close my eyes
Still hear your voice and it's telling me lies
Telling me lies
I cover my ears I close my eyes
Still hear your voice and it's telling me lies
I cover my ears I close my eyes
Maybe someone can do something with this one. I feel kinda lazy today.
Fools rush in, where angels fear to tread
And so I come to you my love
My heart above my head
Though I see the danger there
If there's a chance for me
Then I don't care, oh-oh-oh-oh
Fools rush in, where wise men never go
But wise men never fall in love
So how are they to know
When we met, I felt my life begin
So open up your heart and let
This fool rush in
And I don't care, oh-oh-oh-oh
Fools rush in, where wise men never go
But wise men never fall in love
So how are they to know
When we met, I felt my life begin
So open up your heart and let
This fool rush in
REBear, I popped over to EDGAR and checked the prospectuses, and this is what I see:
2006-01: All loans originated by CFC
2006-02: All loans originated by CFC and Paul Financial (an Alt-A outfit)
2006-03: All loans originated by SouthStar (I think they've imploded), IndyMac, Paul Financial, RFC (sub of GMAC), American Mortgage Network, and Bear Stearns
2006-06: All loans originated by GMAC, GMAC-RFC, MortgageIT (now owned by Deutsche Bank), and CFC
Pretty much what you see here is that the more "bridge mix" they're putting into these pools (stuff purchased from very different lenders with differing doc type definitions and practices), the less likely it's going to be that they can truly compare doc type from issue to issue.
Everything I see here tells me the loan quality spent 2006 getting worse with each issue. That would make LUM real different from the rest of the industry, wouldn't it?
Hey, anyone think Paulson got a sneak peek at the Commerce Dept's new home sales numbers due out Wed, or the NAR's existing home sales? I mean, why would he call the bottom so close to the data release? If he's wrong he'll look like a stooge.
How hard could it be to get an early look at the numbers if you're the Treasury Secretary? In fact, it could be possible that he tells them what the number is and they make the data support it. Isn't that what WorldCom and Enron did - make the data support the desired result? After all, there's always next month for a revision.
"I mean, why would he call the bottom so close to the data release? If he's wrong he'll look like a stooge"
A total stooge - last night on TV he was saying the tax cuts boosted government revenues. He was also still pushing a revamp of Social Security because its problems are already so well documented.
My back-on-the-envelope calculations based on the Dataquick data and magic NAR seasonal adjustment show that in California, the March SAAR sales dropped by 88,000 or 15.5% (and are -31% YoY compared to -21% YoY in February). Unless magic stronger spring bounce arrived to other regions or NAR cooked the data, there is no way these data will show increase in sales. Inventory is likely to top 4 mil and month of supply 7.5 (both highest during this cycle).
New sales is another story because there is a large sampling error and strong revisions but the homebuilders reported pretty bad March.
Subprime spillover.
Bernanke it's here
All the NAR spin in the world
won't make it disappear
Subprime spillover.
Halting your Alt-A.
Subprime spillover.
State your income away.
Subprime spillover.
Early start, dog days.
This one goes out to all those bankers struggling with a credit contraction...
The Banker
On a warm summers evenin on a train bound for nowhere,
I met up with the banker; we were both too tired to sleep.
So we took turns a starin out the window at the darkness
til boredom overtook us, and he began to speak.
He said, son, I've made a life out of readin peoples faces,
And knowin what their assets were by the way they dotted their 'i's.
So if you don't mind my sayin, I can see you're out of aces.
For a taste of your whiskey I'll give you some advice.
So I handed him my bottle and he drank down my last swallow.
Then he bummed a cigarette and asked me for a light.
And the night got deathly quiet, and his face lost all expression.
Said, if you're gonna play the game, boy, ya gotta learn to play it right.
You got to know when to hold em, know when to fold em,
Know when to walk away and know when to run.
You never count your reserves when you're sittin at the table.
There'll be time enough for countin when the lendins done.
Now every banker knows that the secret to survivin
Is knowin what to throw away and knowing what to keep.
cause every loan's a winner and every loan's a loser,
And the best that you can hope for is to die in your sleep.
So when he'd finished speakin, he turned back towards the window,
Crushed out his cigarette and faded off to sleep.
And somewhere in the darkness the banker, he broke even.
But in his final words I found an ace that I could keep.
You got to know when to hold em, know when to fold em,
Know when to walk away and know when to run.
You never count your reserves when you're sittin at the table.
There'll be time enough for countin when the lendins done.
You got to know when to hold em, know when to fold em,
Know when to walk away and know when to run.
You never count your reserves when you're sittin at the table.
There'll be time enough for countin when the lendins done.
Can someone explain how this forclosure fraud worked. Was it a short sale?
"A woman contacted them saying she was working on behalf of their mortgage company. Dianna Louise and her husband thought the woman was buying their house for its full $250,000 value and signed on the dotted line.
Instead, the woman was actually given the right to go to the foreclosure sale for the house the next day and pay $109,000 less than the Louise family owed."
He was born in Oklahoma,
Moves his wife-n-kids to Van Nuys to start his biz,
And he's not responsible for what he's doing
Cause his AE made him what he is.
And it's up against the wall Sub-Prime Broker,
Broker, who raises refi cash so well.
He's thirty-four and smoking in a parkin lot.
Just outside his strip mall cubicle hell.
Sure does like his Mountain Dew,
Likes to chase it down with that day old coffee;
Drives a ninety seven Cadillac Coupe DeVille;
He's got a Blackberry; a "God Loves Profit" sticker
And it's up against the wall Sub-Prime Broker,
Broker, who raises refi cash so well.
He's thirty-four, hangin out on Brokers Universe.
Just kicking Prime ass. Giving GSEs hell.
Well,
'B' is for borrowing you made possible for my pickup truck
'R' is for real estate that never goes down
'O' is for Options
'K' is for the 401s his clients never will fund
'E' is for equity, and
'R' is for RESETS!!.
And it's up against the wall Sub-Prime Broker,
Broker, who raises refi cash so well.
He's thirty-four, hangin out on Brokers Universe.
Just kicking Prime ass. Giving GSEs hell.
dryfly, you want country, you got country. Redneck mother may have been recorded in Luckenbach, but how about flipping in Luckenbach? And if you've ever been in Luckenbach, you'd know that it's about the least likely place for a successful property flip that anyone could imagine (OK, least likely that side of Lubbock).
The only two things in life that make it worth living
Are successful flips and realtor women
I don't need my name on the title deed
Got a straw buyer and its all I need
Maybe its time we got back to the basics of fraud
Let's buy in Luckenbach Texas
from Waylon and Willie and the boys
The successful house we're flippin
prices soaring like the late doc Bones McCoy
Between Indy Mac's No-Docs
and New Century's HELOCs
and appraisers who drive by in the rain
Out in Luckenbach Texas
Ain't no way we can't make a gain.
And 'no' I've never been to Luchenbach but damned close - did a business trip to a small mfger outside San Marcos then took part of a day driving back roads & small towns looking for the mythical 'Best BBQ Brisket in Texas' with one of the engineers at the plant - what a great way to spend a 'working day'.
I was drunk the day my broker got out of prison
I tried to run him down in the sleet
But before I could flatten that sucker with my pickup truck
He got recruited by a damned old REIT
Almost - but you're missing mama and trains. How about
I was drunk the day my broker got out of prison
My mama almost run him down in the sleet
But before she could flatten that sucker with my pickup truck
The Midnight Special took him to a new job with a REIT
Well, you've got a point, mort_fin. I was just working from the assumption that "mother" is a reasonable substitution for "mama." Also, "trainwreck" is a reasonable substitution for "train," and "REIT" goes with "trainwreck" like "broker" goes with "mother."
Somebody else watch this and tell me if Mr. Loaf rides up on a Harley before I bother. Tanta, you are waay smarter than me, am I missing something? Is this the music they pump into the boileroom to lull the borrowers into signing anything just to stay awake?
That's amazing, Rob Dawg, I had actually tossed around "Hot Patootie" as this week's theme. I guess I have too much respect for Meatloaf to cheapen him by comparison to the mortgage market.
"I'm Not Lisa" is a great country and western song. I can't do anything for anyone who just hates country. No one who loves grunge has ever been able to do anything about me. Helpless, helpless, we're all helpless. Damn, I shoulda gone for Neil Young.
You probably have to have waded through a couple dozen PRs this week to get the "I'm not subprime!" joke.
I'm always surprised by how defensive you are about your musical tastes. I don't really understand why it is the case - after all it is your taste. What does the opinion of the masses matter?
Do I sound defensive? I didn't mean to. Normally when I think I have a taste that other people wouldn't approve of and I happen to find myself caring about what other people think--not that that's ever happened to me, but still, hypothetically--I just refrain from waving it all over the blogosphere.
In other words, I'm being silly. As it happens, I think this particular recording is awful. But it's the only one I could find of the song, which I have always gotten a major kick out of.
Plus, it's just really difficult to have a taste for kitsch and a taste for real art at the same time. Last week I posted a vid of one of the greatest sopranos of the twentieth century signing one of the greatest arias of all time, and people whined. Of course, they were kidding, too.
I was watching NHL playoffs the other evening. The sound was muted so I was reading the closed captioning. I guess they have some sort of semi-automated voice recognition system for creating the captions.
Maybe it just got confused by the Canadian accents, but for whatever reason the captions were reporting on a game between:
The Nashville Creditors and the San Jose Sharks.
I developed a taste for country because it was all I could get on my crystal radio as a kid
...
or on those long drives between cities late at night on the back roads of Alabama as a teen, all that the car radio could pick up.
The smell of dew, gas, oil and wild flowers coming in the window and the drone of country from the radio going out.
Damn, I shoulda gone for Neil Young.
Now, Neil. I can go there all day:
Alt-A World
I wanna live
in an Alt-A World
I could loan money
the rest of my life
In an Alt-A World
An American Dreamer
Help people succeed
No documentation
Just a pipeline to feed
My Alt-A world
No job to speak of
But a high FICO score
Don't tell me about it
I don't want to know
In my Alt-A World
Chinese investors
Wall street bond deals
Put them together
Just chasing the yield
In an Alt-A World
Sterns, send more money now
I'll get it paid back somehow
I need another chance
Your debtor needs to refinance
Yeah...yeah...yeah.
I like this one:
First-time Nigel getting a Helping Hand from industry "professionals"
YouTube - XTC: Making Plans for Nigel
Local lender shuts hastily amid turmoil in industry
Business & Technology | Local lender shuts hastily amid turmoil in industry | Seattle Times Newspaper
More than 100 local employees abruptly lost their jobs Friday as a Mountlake Terrace-based mortgage lender closed its doors, a victim of the turmoil in the riskier end of the home-loan industry.
I want to purchase Alt-A Tranches
With the No-Docs and some NINJA Balloons
Over 620 FICO tranches
So I'm sure they won't go belly up too soon,
They won't foreclose too soon.
I listened to it. In its entirety.
Those who complain about helmet hair should check out this Paris Hilton doo.
I was waiting, really waiting for the girl with the violin to play the bridge.
It's a beautiful song, but the twang is a little too George Bush for me.
Callas is better...bien evident.
Hi Tanta -
LUM offerings
Total offerings in 2006 - 4318 mil
SISA/SIVA - $2091 which is 48% of total
REDUCED - $1346 which is 31% of total
Luminent Mortgage Trust 2006-1 & 2 has a total of only $136 mil under SISA/SIVA Vs 1057 mil against REDUCED. Luminent Mortgage Trust 2006-3 through 7 has a total of 300 mil under REDUCED Vs 1850 mil under SISA/SIVA.
Did LUM use different set of rules to classify SIVA/SISA starting with Luminent Mortgage Trust 2006-3?
404 Page Not Found
While I admit my tastes run more to 80s punk I am pretty eclectic. This song however just never went anywhere if you know what I mean. Besides if you were looking for an allegory to sub-prime then what about Milli Vanilli? Just to show you I'm not a complete headbanger your song immediately reminded me of a better one:
Parton, Ronstadt & Harris singing:
They say a woman's a fool for weeping
A fool to break her own heart
But I can't hold the secret I'm keeping
I'm breaking apart
Can't seem to mind my own business
Whatever I try turns out wrong
I seem like my own false witness
And I can't go on
I cover my ears I close my eyes
Still hear your voice and it's telling me lies
Telling me lies
You told me you needed my company
And I believed in your flattering ways
Told me you needed me forever
Nearly gave you the rest of my days
Should've seen you for what you are
Should never have come back for more
Should've locked up all my silver
Brought the key back to your door
I cover my ears I close my eyes
Still hear your voice and it's telling me lies
Telling me lies
You don't know what a chance is
Until you have to seize one
You don't know what a man is
Until you have to please one
Don't put your life in the hands of a man
With a face for every season
Don't waste your time in the arms of a man
Who's no stranger to treason
I cover my ears I close my eyes
Still hear your voice and it's telling me lies
Telling me lies
I cover my ears I close my eyes
Still hear your voice and it's telling me lies
I cover my ears I close my eyes
Still hear your voice and it's telling me lies
Now that's a sub-prime country song.
Maybe someone can do something with this one. I feel kinda lazy today.
Fools rush in, where angels fear to tread
And so I come to you my love
My heart above my head
Though I see the danger there
If there's a chance for me
Then I don't care, oh-oh-oh-oh
Fools rush in, where wise men never go
But wise men never fall in love
So how are they to know
When we met, I felt my life begin
So open up your heart and let
This fool rush in
And I don't care, oh-oh-oh-oh
Fools rush in, where wise men never go
But wise men never fall in love
So how are they to know
When we met, I felt my life begin
So open up your heart and let
This fool rush in
So open up your heart and let
This fool rush in
So open up your heart and let
This fool rush in
So open up your heart and let
This fool rush in
Words and Music: by Johnny Mercer and Rube Bloom
Maybe someone can do something with this one.
Sorry, Kevin. My mind isn't geared that slow today.
REBear, I popped over to EDGAR and checked the prospectuses, and this is what I see:
2006-01: All loans originated by CFC
2006-02: All loans originated by CFC and Paul Financial (an Alt-A outfit)
2006-03: All loans originated by SouthStar (I think they've imploded), IndyMac, Paul Financial, RFC (sub of GMAC), American Mortgage Network, and Bear Stearns
2006-06: All loans originated by GMAC, GMAC-RFC, MortgageIT (now owned by Deutsche Bank), and CFC
Pretty much what you see here is that the more "bridge mix" they're putting into these pools (stuff purchased from very different lenders with differing doc type definitions and practices), the less likely it's going to be that they can truly compare doc type from issue to issue.
Everything I see here tells me the loan quality spent 2006 getting worse with each issue. That would make LUM real different from the rest of the industry, wouldn't it?
stuff purchased from very different lenders with differing doc type definitions and practices)
Thanks Tanta
I didn't know that.
CFC figures in 2006-1, 2006-2 & 2006-6.
LUM reports REDUCED in 2006-1 (87%), 2006-2 (70%), 2006-5 (25%) & 2006-6 (21%).
Hey, anyone think Paulson got a sneak peek at the Commerce Dept's new home sales numbers due out Wed, or the NAR's existing home sales? I mean, why would he call the bottom so close to the data release? If he's wrong he'll look like a stooge.
How hard could it be to get an early look at the numbers if you're the Treasury Secretary? In fact, it could be possible that he tells them what the number is and they make the data support it. Isn't that what WorldCom and Enron did - make the data support the desired result? After all, there's always next month for a revision.
"I mean, why would he call the bottom so close to the data release? If he's wrong he'll look like a stooge"
A total stooge - last night on TV he was saying the tax cuts boosted government revenues. He was also still pushing a revamp of Social Security because its problems are already so well documented.
Paulson also believes in a strong dollar
My back-on-the-envelope calculations based on the Dataquick data and magic NAR seasonal adjustment show that in California, the March SAAR sales dropped by 88,000 or 15.5% (and are -31% YoY compared to -21% YoY in February). Unless magic stronger spring bounce arrived to other regions or NAR cooked the data, there is no way these data will show increase in sales. Inventory is likely to top 4 mil and month of supply 7.5 (both highest during this cycle).
New sales is another story because there is a large sampling error and strong revisions but the homebuilders reported pretty bad March.
A wee bit of blondie:
(inner city spillover)
Subprime spillover.
Bernanke it's here
All the NAR spin in the world
won't make it disappear
Subprime spillover.
Halting your Alt-A.
Subprime spillover.
State your income away.
Subprime spillover.
Early start, dog days.
I'm not getting anywhere near this. If I did, I'd start drinking Rolling Rock and keeping dogs under my front porch. Sorry.
This one goes out to all those bankers struggling with a credit contraction...
The Banker
On a warm summers evenin on a train bound for nowhere,
I met up with the banker; we were both too tired to sleep.
So we took turns a starin out the window at the darkness
til boredom overtook us, and he began to speak.
He said, son, I've made a life out of readin peoples faces,
And knowin what their assets were by the way they dotted their 'i's.
So if you don't mind my sayin, I can see you're out of aces.
For a taste of your whiskey I'll give you some advice.
So I handed him my bottle and he drank down my last swallow.
Then he bummed a cigarette and asked me for a light.
And the night got deathly quiet, and his face lost all expression.
Said, if you're gonna play the game, boy, ya gotta learn to play it right.
You got to know when to hold em, know when to fold em,
Know when to walk away and know when to run.
You never count your reserves when you're sittin at the table.
There'll be time enough for countin when the lendins done.
Now every banker knows that the secret to survivin
Is knowin what to throw away and knowing what to keep.
cause every loan's a winner and every loan's a loser,
And the best that you can hope for is to die in your sleep.
So when he'd finished speakin, he turned back towards the window,
Crushed out his cigarette and faded off to sleep.
And somewhere in the darkness the banker, he broke even.
But in his final words I found an ace that I could keep.
You got to know when to hold em, know when to fold em,
Know when to walk away and know when to run.
You never count your reserves when you're sittin at the table.
There'll be time enough for countin when the lendins done.
You got to know when to hold em, know when to fold em,
Know when to walk away and know when to run.
You never count your reserves when you're sittin at the table.
There'll be time enough for countin when the lendins done.
I'm not getting anywhere near this. If I did, I'd start drinking Rolling Rock and keeping dogs under my front porch. Sorry.
That would be me.
dryfly, you've got it made because my three dogs crap and pee on my side porch. Here's an article about option ARMs from the WSJ:
Option ARMs Emerge As Home-Loan Worry - WSJ.com
Can someone explain how this forclosure fraud worked. Was it a short sale?
"A woman contacted them saying she was working on behalf of their mortgage company. Dianna Louise and her husband thought the woman was buying their house for its full $250,000 value and signed on the dotted line.
Instead, the woman was actually given the right to go to the foreclosure sale for the house the next day and pay $109,000 less than the Louise family owed."
Page Not Found - cbs4denver.com
And country? Oh ya we got country...
He was born in Oklahoma,
Moves his wife-n-kids to Van Nuys to start his biz,
And he's not responsible for what he's doing
Cause his AE made him what he is.
And it's up against the wall Sub-Prime Broker,
Broker, who raises refi cash so well.
He's thirty-four and smoking in a parkin lot.
Just outside his strip mall cubicle hell.
Sure does like his Mountain Dew,
Likes to chase it down with that day old coffee;
Drives a ninety seven Cadillac Coupe DeVille;
He's got a Blackberry; a "God Loves Profit" sticker
And it's up against the wall Sub-Prime Broker,
Broker, who raises refi cash so well.
He's thirty-four, hangin out on Brokers Universe.
Just kicking Prime ass. Giving GSEs hell.
Well,
'B' is for borrowing you made possible for my pickup truck
'R' is for real estate that never goes down
'O' is for Options
'K' is for the 401s his clients never will fund
'E' is for equity, and
'R' is for RESETS!!.
And it's up against the wall Sub-Prime Broker,
Broker, who raises refi cash so well.
He's thirty-four, hangin out on Brokers Universe.
Just kicking Prime ass. Giving GSEs hell.
[Repeat Refrain]
And for you all too young or refined to know the tune...
This might help...
Then maybe not.
Rumor on the vine, Home Equity Of America a Subsidary Of Fifth Third Bank has closed.
Mortgage Grapevine: Closed-Home Equity Of America
dryfly, you want country, you got country. Redneck mother may have been recorded in Luckenbach, but how about flipping in Luckenbach? And if you've ever been in Luckenbach, you'd know that it's about the least likely place for a successful property flip that anyone could imagine (OK, least likely that side of Lubbock).
The only two things in life that make it worth living
Are successful flips and realtor women
I don't need my name on the title deed
Got a straw buyer and its all I need
Maybe its time we got back to the basics of fraud
Let's buy in Luckenbach Texas
from Waylon and Willie and the boys
The successful house we're flippin
prices soaring like the late doc Bones McCoy
Between Indy Mac's No-Docs
and New Century's HELOCs
and appraisers who drive by in the rain
Out in Luckenbach Texas
Ain't no way we can't make a gain.
...but how about flipping in Luckenbach
LOL - man this could get ugly real fast.
And 'no' I've never been to Luchenbach but damned close - did a business trip to a small mfger outside San Marcos then took part of a day driving back roads & small towns looking for the mythical 'Best BBQ Brisket in Texas' with one of the engineers at the plant - what a great way to spend a 'working day'.
I was drunk the day my broker got out of prison
I tried to run him down in the sleet
But before I could flatten that sucker with my pickup truck
He got recruited by a damned old REIT
Here's the latest PIMCO outlook on housing with a chart of declining MEW (chart number7):
PIMCO - U.S. Credit Perspectives- 5-2007
Almost - but you're missing mama and trains. How about
I was drunk the day my broker got out of prison
My mama almost run him down in the sleet
But before she could flatten that sucker with my pickup truck
The Midnight Special took him to a new job with a REIT
NOW you've got a country song!
Kottonmouth Kings
Well I'm done till my dying days
you'll probably figure out
this aint no phase
gonna go out 180 proof
kicking up dust
spreading out my loot
tell my wife and kids that daddy's coming homem
we'll shed the tears and load into the bowl
spreading out
CMBS
Sudden Debt
Well, you've got a point, mort_fin. I was just working from the assumption that "mother" is a reasonable substitution for "mama." Also, "trainwreck" is a reasonable substitution for "train," and "REIT" goes with "trainwreck" like "broker" goes with "mother."
Does that clear it up?
Here's another YouTube that's pretty funny... telling the story behind the song 'Up Against The Wall Red Neck Mother'...
Ray Wylie Hubbard on Redneck Mother
If you listen carefully you can hear him say...
"You guys ain't so tough, I've been beat up worse than this by brokers!"