It don't always sell for what you want

I saw a flipper open house for sale
35% profit was the demand
After an hour the Realtor bailed
She couldn't make her seller understand

It don't always sell for what you want
It don't always sell for what you want
It don't always sell for what you want
But if you drop your price, you might find
You get rid of your deed

And I went down to the Donald's presentation
To get an offer I couldn't refuse
In his eyes was a look of desperation
He told me "Buy now and you can't lose"

It don't always sell for what you want
It don't always sell for what you want
It don't always sell for what you want
But if you don't drop your price, you might find
They'll foreclose on your deed

And I went down to my brokers office
To borrow a bit of the dream
The dusty receptionist's desk was empty
My broker said the market was losing steam
I asked about the state of his business
He said he was running in the red
He asked me if there were openings at my job
I said everything around my place was dead.
He said

You can't always buy when you want
You can't always buy when you want
You can't always buy when you want
But if you wait some time, you might just find
You'll get something cheap

I saw her at the real-estate auction
Driving a Cadillac Escalade
I asked about her property's disposition
She was praying that she would be repaid

It don't always sell for what you want
It don't always sell for what you want
It don't always sell for what you want
But if you don't drop your price, you might find
They'll just take your deed

Tanta,

Eat a hamburger. The grease helps move the toxins out of your blood stream. Now I'm wondering how you listened to the Stones with that heahache of yours.

Thanks for the suggestion, Kevin, but I already had cold pizza for breakfast. It has always seemed to me that if one is going to do something thoroughly stupid, one should do something stupid thoroughly. And I don't know where everyone else went to college, but at my alma mater eating leftover pizza for breakfast was the usual act of contrition following an unfortunate episode of wine-drinking.

Max, excellent. If someone doesn't offer me "Angie" (Mozilo) by the end of the day I'm going to be deeply disappointed.

If someone doesn't offer me "Angie" (Mozilo) by the end of the day I'm going to be deeply disappointed.

You're right, Tanta. That one almost writes itself! Smile Let me get my coffee first.

Angelo, Angelo, why did all those stock options disappear?
Angelo, Angelo, where will the market go from here?

Angelo

Angelo, Angelo, why did all those stock options disappear?
Angelo, Angelo, where will the market go from here?

With the stock sales you disclosed
And a portfolio of REOs
You can't say you never lied
But Angelo, Angelo, you'll be convicted if you're tried.

Angelo, your tan was beautiful
But now you're looking a little fried
Angelo, Congress still loves you
Were those donations or just bribes?
All those 100% loans you wrote
Seem to all end up foreclosed
Do I sense a little fear?
Angelo, Angelo, how can you look at youself in the mirrior?

Oh, Angelo, how can you sleep?
With all the misery that you reap?
You said it's always time to buy.
But Angelo, Angelo, 9,000 foreclosures  cannot lie.

All the borrowers you fill with hope
Seem to all end up flat broke
You can't say you never lied
But Angelo, keep on trying baby
Everywhere I look I see your ads
There ain't no CEO as brazen as you
That look of defiance in your eye.
So Angelo, Angelo, keep the bailout talk alive.

But Angelo, Angelo, you'll be convicted if you're tried.

Oh, God, what a wonderful song!

And a young Keith Richards.

Grand, crashing waves of nostalgia sweeping through the soul.

I take three aspirin before I go to bed and then drink a ton of orange juice in the morning.

It works.

sorry for the OT but just found out that Bs does much more than making mistkas on chain dollars.

they manipulate the ABX:

Moneyweb - Wall Street Journal

Max, you've outdone yourself. I like your lyrics better than the original ones.

Max, you've outdone yourself. I like your lyrics better than the original ones.

Now you've gone too far. Keith Richards is rolling over in his grave. Smile

Keith Richards is dead? I know he sometimes looks that way...

Nah, he's not dead, just well preserved. Smile

Tanta, Tanta, Tanta.

First you should know by now the cure for a hangover is to never sober up. If you had you'd have remembered this more appropriate song:

YouTube - Portrait (He Knew)

He had a thousand ideas, you might have heard his name
He lived alone with his vision
Not looking for fortune or fame
Never said too much to speak of
He was off on another plane
The words that he said were a mystery
Nobody's sure he was sane

But he knew, he knew more than me or you
No one could see his view, Oh where was he going to

He was in search of an answer
The nature of what we are
He was trying to do it a new way
He was bright as a star
But nobody understood him
"His numbers are not the way"
He's lost in the deepest enigma
Which no one's unraveled today

But he knew, he knew more than me or you
No one could see his view, Oh where was he going to
And he tried, but before he could tell us he died
When he left us the people cried,
Oh where was he going to?

He had a different idea
A glimpse of the master plan
He could see into the future
A true visionary man
But there's something he never told us
It died when he went away
If only he could have been with us
No telling what he might say

But he knew, he knew more than me or you
No one could see his view
Oh, where was he going to
But he knew, you could tell by the picture he drew
It was totally something new,
Oh where was he going to?

Robert- "First you should know by now the cure for a hangover is to never sober up."

Tanta, please, cold pizza for a hangover? I don't know where you went to school, but where I went to school the generally accepted cure was a Bloody Mary.

What, I sound like I attended Sophisticated U?

Bloody Mary. Oh, please. At Cretin College we had no idea there were people who ruined good booze by pouring it into tomato juice.

The latest Businessweek has a story about the CDO/Bear Sterns deal and their desire to sell equity tranches to individual investors with a nice graphic of a pig with liptstick on it.... reminded me of the conversation Tanta brought up earlier in the week. At least the editors have a sense of humor.

Won't allow me to refinance my house?
You're a man of "wealth" and "taste"
I've had this loan for a long, long year
Stole Peter's to pay Paul's faith
I bought a home! oh jesus christ!
It is OUR moment of doubt and pain
I need cash you pirate
Can't wash my hands, you've sealed our fates

Pleased to f@#$ you
We are both the same
Is this puzzling you?
It's the nature of our game

When I was begging on the streets for change
You offered me a loan, mister
With no job could I repay? (hahaha)
Cash to the bank?
As home prices sank?
So don't get enraged!
I am being frank (hahaha)

Pleased to f@#$ you
We are both the same, oh yeah
Is this puzzling you?
It's the nature of our game, oh yeah

Business Week's story on "Phantom GDP" will fire up Barry Ritholtz for sure. I can see it now.

Can't resist saying I told y'all. Toad bones and ground up dog balls really do work better than government statistics.

If you had you'd have remembered this more appropriate song:

Robert, I think this counts as an OT post. Nothing says "subprime" like Sympathy for the Devil... Smile

Following Yal's OT on BearS's purported manipulation of ABX (Richards I can take, but Jagger not so much), there is this line in the article about business integrity...and you know it would take a saint of an Investment Bank not to meddle in the affairs of HFs whose accounts and positions are known and exploitable by BearS, no?
Nonetheless, BearS needs to keep those of us who are thinking Mother Teresa is informing their investment strategies, happy --by denying any and all such lapses in "business integrity".
Enough to make grown men cry.
Tis.

The Real Cost Of Offshoring
U.S. data show that moving jobs overseas hasn't hurt the economy. Here's why those stats are wrong

The Real Cost Of Offshoring 

  • growth of domestic manufacturing has been substantially overstated in recent years
  • "phantom GDP"--reported gains in GDP that don't correspond to any actual domestic production
  • productivity - most companies don't look at how much of their productivity growth is onshore and how much is offshore
  • growth in Europe and Japan might be overstated, too
  • less productivty implies, the Fed may have less leeway to cut rates
  • methods for measuring the economy need to change.

Nothing says "subprime" like Sympathy for the Devil.
Except maybe:

The Travelling Wilbury's - The Devil's Been Busy

While you're strolling through the bond pits
Showing you don't give a sh!t
Glowing from the poisons
They've sprayed on your CDOs
While you're busy slicing tranches
And keeping your scorecard
The devil's been busy in your back yard

Steaming down the highway
With your trucks of toxic loans
Where you gonna hide it
In the retirement funds you own?
You don't know what you're doing
Or what you have to guard
The devil's been busy in your back yard

Sometimes you think you're crazy
But you know you're only mad
Sometimes your better off not knowing
How much you've been had

You see your second mortgages
Wasted in a squeeze
You say you had it coming
You couldn't do it right
You're in a western movie, playing the part
The devil's been busy in your back yard

Sometimes they say you're wicked
But you know that can't be bad
Sometimes you're better off not knowing
It'll only make you sad

They're coming down picadilly
Dripping at the dash
Wasting sticky willy
Covering him with their cash
They just might not have noticed, they've been beating him so hard
The devil's been busy in your back yard

I believe that Keith Richards is alive. Very strange brain, but alive.

It is said that Johnny Depp did not win the Academy Award for his performance in Pirates of the Carribean (which he deserved to win) because his accent was pure Keith Richards.

Tanta,
Would there be any chance of bribing CR to do a special Saturday "Plaster Caster" graph tracking the sub-prime fiasco?

Tanta, please, cold pizza for a hangover? I don't know where you went to school, but where I went to school the generally accepted cure was a Bloody Mary.

Where I went to school it was bongs for breakfast - then a tall stack of blueberry pancakes at Al's Breakfast in Dinkytown (just off 'Fourth Street')

Only known cure.

Did I see a cameo doing a John Lennon or just a cameo look alike?

Thanks so much for this, Tanta!

And yeah, totally John Lennon, clearly having a blast. From 1968's Rolling Stones Rock and Roll Circus, withheld from release by the Stones until 1996 - totally unique DVD now widely available. Brian Jones' last public performance with the Stones. For an amazing experience of this song, check out Jean-Luc Godard's film of this (his only English-language work), which captures the writing, development, rehearsal and recording of the song for the album.

Ah, forget those weak drinks.

The best? Boiler-makers. Shot of whiskey chased with beer. Or mixed.

My favorite old time Army drink.

Strange though, I hear the Army has gone dry. No more 6 hour happy hours at the NCO clubs. Sad.

And yes, sober up? Why try? Just have another drink.

And, look, the androgynous Mick is great. Keith Richards has become such a parody of himself is the only reason I mention him.

But Mick? Well, Mick, halfway between man and woman, Mick is the best. Give me Mick a million times before that prissy, self-satisfied, over-bearing Lennon.

Unions against private equity? From UK

TUC calls for end to buyout tax breaks

PM-in-waiting challenged to curb private equity

TUC calls for end to buyout tax breaks |
Business |
The Observer

'We will chase them down every rat hole to find out where they are getting their money from and who they are ripping off. "

I can't meet my, mortgage reset
I can't meet my, mortgage reset
And I try, and I try, and I try, to refi
I can't meet my, I can't meet my

When I'm driving in my car
And that man comes on the radio
He's tellin' me more and more
About some neg-am cash-out loan
S'posed to let me keep my home
I can't get no, oh no no no
Hey hey hey, that's what I say

(Chorus)

When I'm watchin' my TV
And that man comes on to tell me
How good his loan could be
But I can't tie it on 'cause my comp's too low
The appraisal's killing me
I can't get no, oh no no no
Hey hey hey, that's what I say

(Chorus)

When It looks like I got caught
and I'm doin' this and I'm signing that
And I've tried to sell it short
But they tell me now the auction's next week
'cause you see I'm on a losing streak
I can't get no, oh no no no
Hey hey hey, that's what I say

I can't meet my, I can't meet my
I can't meet my, mortgage reset
No satisfaction, no satisfaction, no satisfactio

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