MBA: Prime ARMs to Dominate Foreclosures
Submitted by
CalculatedRisk on Fri, 09/05/2008 - 9:45am (140 comments)
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Yeah, that is the quote: "increasingly dominated increasingly". I guess it's really increasing!
There will be more on this data later.
Best to all.
ot contained?
Up the down staircase....
No, no, no. Prime ARMs are merely next. How many "firewalls" need to be breached before the PTB see that an international credit meltdown cannot be contained?
Tonight we're going to Rock you Tonight.
completely contained...nothing to see here
The credit implosion has indeed spread like a run away cancer. Unfortunately this shall only only get worse over time. Is it not ironic that just yesterday General Motors said they think the housing market was reaching the bottom but at the same time their GMAC mortgage business was folding up and laying off all the employees.
Sounds to me like someone did not 'get the memo' LOL
OT: U.S. Highway Fund Needs $8 Billion Bailout This Month
U.S. Highway Fund Needs $8 Billion Bailout This Month (Update3) - Bloomberg.com
A U.S. trust fund that finances highway construction needs $8 billion from Congress by the end of next week to cover a shortfall as a drop in driving shrinks fuel-tax receipts, Transportation Secretary Mary Peters said.
The federal government will have no money in the fund by month's end, and may need to cut payments to states starting in October should Congress fail to act, Peters told reporters today on a conference call.
The cash-flow problem we face is serious,'' Peters said in Washington. Asignificant, precipitous drop-off'' in highway travel boosted the shortfall beyond previous expectations, she said.
The fund started the year that began Oct. 1 with an $8.1 billion balance, and payments exceeded collections by $8.3 billion, according to the Transportation Department. The U.S. House approved an $8 billion bailout for fiscal 2009, though the money will be needed this year instead, Peters said.
Extend the line into the future and super-impose this chart onto Credit Suisse's price decline projection from the other day...
Calculated Risk: Price to Rent Ratio
...and your eyeballs will pop right out of their sockets.
FDIC again lowers estimate of IndyMac's uninsured deposits
The bank regulator now says that about $541 million in customer accounts weren't insured, down from an initial estimate of $1 billion.
"Uninsured deposits at IndyMac Bancorp totaled about $541 million, federal regulators said Thursday, marking their second reduction of the estimate since the government seized the troubled mortgage lender July 11. The Federal Deposit Insurance Corp., which is operating the Pasadena savings and loan and is hoping to sell it, originally estimated that $1 billion of IndyMac's $19 billion in deposits were uninsured. Last month, the FDIC revised the figure down to about $600 million. The latest change resulted from the slow process of interviewing depositors about complicated accounts, especially trust accounts for which every beneficiary must be verified, FDIC spokesman David Barr said. Basic FDIC insurance tops out at $100,000 per customer at a bank, thrift or credit union, but depositors can insure many times that amount by setting up joint accounts and trusts. The FDIC now estimates that IndyMac's collapse will cost the federal deposit insurance fund $8.9 billion."
Fewer IndyMac deposits uninsured - Los Angeles Times
What was the beginning balance, $53 billion or thereabouts? That is about a 17% hit or 1/6th...with the other rollups we have used up what, 20% (or more)?
over at RGE monitor
roubini expounds on 12 reasons why we are headed lower
heres 4 related to housing and debt
btw... NR notes in his introduction that Home equity withdrawal peaked at $700 billion three years ago has recently dropped comparatively almost to nothing
from NR's RGE monitor
RGE - The Coming US Consumption Bust: 12 Reasons Why the US Consumer is in Serious Trouble and Faltering
may require free registratio
Ministry of Truth writes:
OT: U.S. Highway Fund Needs $8 Billion Bailout This Month
The HTF runs a surplus. What has happened is that the borrowing by the General Fund has exceeded account balances because HTF revenues are lower than projected.
Now the containment has shifted to ARMs. Wow. That's a shocker. I wonder in it could have been predicted by looking at the reset schedule in 2009 & 2010 ?
Remarkable.
I hope it's contained to the plant earth. I hate to have any neighbors mad at us. If there is any of course.
jo6pac
Graphically speaking, that graph is graphic. Might get an X rating from the MPA for highly disturbing visual content.
mock, as much as I think Roubini is playing on his fame as prophet of doom, he's got some points for the near and medium term economic realities. What I think is, however, that he uses marginal situations to draw conclusions rather than the norm. Most people aren't over-extended on credit, and most people aren't struggling to pay their mortgage. People who couldn't afford the house to begin with are, and that's where the rubber meets the road.
It isn't too hard, now, to extrapolate what is doing to happen. Anyone that used any sort of exotic loan to buy a house will default. Anyone relying on an adjustable rate for affordability will default. Anyone that needs to sell and can't bring money to the table will default. Anyone that used their house as an ATM has a lot of reckoning to do, and will stop consuming to pay down debt.
Credit companies have cut lines even to good customers. So this will crimp spending no matter how you slice it. Auto leases are pulled back, auto loans are pulled back...credit in general is contracting like mad.
Welcome to deflation. And to the age where, if you don't have the money, you won't (can't) buy it. Anyone that thinks the financial sector is coming back even in the next 10 years is smoking crack. But they're also smoking crack if they're thinking meltdown. Just a long, slow 100 car pile-up with a long time to clear away the wreckage in the fog...
OT
I have another computer that locked up today. Will only run in "Safe mode" after "dumping data" during normal start up.
Any suggestions would be appreciated.
Boot from the last known good configuration Angry, if you can and see what happens there. if not, try running a chkdsk in safe mode, and any other utility there too. Also try running in safe mode with networking and see what you can or cannot do.
I present you with various Ben Bernanke quotes...for your reflection.
There is enormous demand for dollar denominated assets so I don't expect that this demand would drop precipitously.
I see inflation as remaining well-contained going forward.
I assure this committee that, if I am confirmed, I will be strictly independent of all political influences.
Those high oil prices are a burden on U.S. families, on firms' production costs. But the good news is that at least so far the U.S. economy has not been slowed by the high energy prices.
If I am confirmed to this position, my first priority will be to maintain consistency and continuity with the policies established during the Greenspan years.
Under Chairman Greenspan, monetary policy has become increasingly transparent to the public and the financial markets, a trend that I strongly support.
The contrast between the 1970's and today is very marked.
Middle-income living standards, and poverty for that matter, are best addressed through employment growth. By maintaining low inflation and low expectations of inflation, you can create new employment.
Low marginal tax rates are supportive of economic growth. I would submit that we would want to look very hard at government spending - make sure it's controlled - before we raise taxes, which, in turn, would have negative impacts on the economy.
The graph doubled from .4% to .8% in 6 quarters, and another .4% in only 3. It's doubling every 6 quarters. At this rate every house in the country will be foreclosed in 10 years!
I yearn for the day when Bernanke can be contained....in his prison cell.
completely contained...nothing to see here
Angry Saver-
Sounds like you have 2 choices: Stop surfing porn or get some virus protection. You probably have a virus of some sort.
Angry Saver...might need more info.
ipodius: Nice anology to a 100 car pile up in the fog...however the ripple effect (exponentially) could be deeper and last longer long after the carnage is cleared away...me thinkuth.
exercpts from greedspend interview
(cant tell me he didnt turn a blind eye) (plus, he predicts stagflation)
Washington AP news:
My Way
"Greenspan: Don't use Fed as a 'magical piggy bank'
snip
Greenspan calls the current crisis "one of those rare, once in a century or half-century events." The full closure on this crisis is "a way off," he says. The U.S. economy, he observes, appears to be "on the brink of recession." And, worldwide inflation, he warns, is creeping, which will pose a challenge to central bankers, he says.
snip
The United States has long "abandoned the notion that we should leave crises to be resolved solely by the marketplace," Greenspan says in making the case for new powers in this area.
snip
Greenspan calls the current crisis "one of those rare, once in a century or half-century events." The full closure on this crisis is "a way off," he says. The U.S. economy, he observes, appears to be "on the brink of recession." And, worldwide inflation, he warns, is creeping, which will pose a challenge to central bankers, he says.
Economist.com
A leaky pool / The problems of insuring against systemic risk
Premium content | Economist.com
The rate of new foreclosures continues to accelerate...looking at the CAGR on a quarterly basis to arrive at the annual number it is downright fugly. (CAGR = compound annual growth rate)
If we start at 1Q2006, there are ten quarters (nine compoundings). Eyeballed at 0.41%, with 1.19% in 2Q08 the CQGR (Compound Quarterly Growth Rate) is 12.6%, which yields a CAGR of 60.6%.
Now we jump to 1Q2007, or six quarters (five compoundings). 1Q2007 is eyeballed at 0.58%, same terminal values, and the CQGR is 15.5%, yielding a CAGR of 77.7%.
When we get to the fewest periods the reliability really drops off, seasonality effects kick up etc but pressing on, from five quarters down to two quarters we have a range of values for the CAGR from ~82% to the extreme of the one period case of ~109%.
The increase in rate of new foreclosures over the last three quarters (two compoundings) imply annual doubling or more of that rate...
I agree girlbear. I think credit will be vastly curtailed for the foreseeable future. People could only afford things because they didn't have to pay for them. when they have no choice, that doesn't bode well for all sorts of sectors. Again, this is deflation in action...the contraction of money and credit.
Things have to get cheaper or no one will buy them. Welcome to the brave new world.
We're all prime arms now.
AS-
unless you have some data that you can't live without-try the above suggestions but I think you will end up having to reformat the hard drive and start again.
I do this once a year and I've never had a problem since starting that over 4 year's ago.
I have no firewall and just a basic virus protection program that is updated regularly. I've also never put in the service packs from softy man. There are things I can't do simply because I'm not "up to date" on my S/W however the trade off is not ever having problems like the one you have now.
Ciao
MS
"The United States has long "abandoned the notion that we should leave crises to be resolved solely by the marketplace," Greenspan says in making the case for new powers in this area."
I guess uess Greenspan just threw Ayn Rand under the train!
The United States has long abandoned the notion that we should believe anything Greenspan says now.
"The United States has long "abandoned the notion that I am the Maestro," Greenspan says in tearful voice."
It it okay to pity the pathetic?
Small bank is forced to change
(put this on the pizza party list)
STLtoday - http://www.stltoday.com/stltoday/business/stories.nsf/business/yourmoney/story/6770b91bbdafd510862574bb00093adc - Not Found
Welcome to deflation. And to the age where, if you don't have the money, you won't (can't) buy it.
ipodius
Let me add: anyone who bought commodities on margin will be more fried than even RE speculators, if he hasn't already been. Ipodius sums it up niecely again.
O-Joe
Those CAGR's apply on year over year basis, so the 2Q2008 to 2Q2009 CAGR is 109% based on the one quarter case, and 78% based on five quarter case - so this time next year new foreclosure starts will be ~2.1%-2.5% of all loans...that's a lot of cars piled up in the fog, no?
energycon,
I have no clue what you are talking about. Simplicity is a good thing.
Elvis,
New foreclosure starts will double over the next year.
Ipodius - did you see this quote in the article:
Perhaps the question most asked these days is whether we are close to a bottom, in other words, when will delinquency and foreclosure rates begin to head down. The simple answer is that the idea of a national bottom is somewhat meaningless. Real estate markets are local and some markets are already improving. For example, even Michigan, one of the worst hit markets in the country, has now gone three quarters with little to no increase in its rate of foreclosures... Because of the sheer size of California and Florida, an improvement in the national numbers, whether delinquencies, home prices or any other measure, is unlikely until we see some turnaround in those two states, Brinkmann said."
Once again, this is so incredibly variable based upon where you live. People told me "everyone HELOCS" and "no one has any money" and "everyone lives on credit" While that may be true in CA, Fl & some other places, apparently where I live turns out there really are wealthy people who could afford the astronomical price hikes of the years 2000 - 2005. Again where I am looking Inventory is down YOYOYOY, sales are up, and the absorbtion rate is a scorching 3 & 1/2 months.
You renters in CA, FL AZ & NV are totally in the drivers seat, and there is a good chance you will continue to weigh down the rest of the US for a while. However, will the rest of us bubble sitters see anything like the 30-35% off prices you are gonna see - Nope...
[By maintaining low inflation and low expectations of inflation, you can create new employment]
Well, it's pretty clear low, and even lower expectations, are now the new black.
The rest of it is a word problem, which is left to the reader...
There was a great "Far Side" cartoon, 'Libraries in Hell' - bookcase after bookcase of nothing but story problems - personal fave next to the fisherman with mushroom clouds on the horizon...
Looks like the optimists are back throwing their money away again. With all the bad news this week (basically confirming a US-led global recession), it's pretty amazing.
But optimism is fading. Even O-Joe seems a bit less exuberant of late.
yentervention...
According to Barton "buy stocks buy" Biggs, US stocks are "pretty close to bottom".
Comment above should have said 30-50% off.
OT:
U.S. stocks overvalued, give up already, get it over with.
Chart of the day: U.S. stocks overvalued - FP Posted
But optimism is fading. Even O-Joe seems a bit less exuberant of late.
ShortCourage
Yeah, ST I am somewhat optimistic, but MT deflationary forces are strong and getting stronger. It's going to be a grinding bear market (RE, stocks, commodities...) for more than two years. Only US$ is in a bull I guess...
O-Joe
Elvis,
That should have been the rate of new foreclosure starts will double over the next year - d'oh!
FFDIC, so Meridan is a $0.59 bank? No fries either? I have a sale Merlot for that price.
OT:
"More Lehman Bros/ layoffs to begin early next week"
Again here they are demonstrating to the market that if they don't get a deal done, preferably to allow them to keep skin in the game, they will have "no choice" but to lay people off.
Coupled with the relatively small amounts of repo's in the last few day's this is Fuld's way of screaming for another rate cut. Contrast that with Pimpco screaming for more "intervention" on poor choices you've got all the necessary makings of another "Jerome Kerviel" moment.....
Ciao
MS
I have a sale Merlot for that price.
- Leftys Liquors
Sold! Got case discounts?
It's not Aussie Merlot Lefty.
Looks like some foreclosed houses get so few visitors that bobcats can decide to take over:
bobcats
FFDIC,
A bank owned by a developer; that's one I hadn't seen before. No risk management in place there. I think one lesson here is that if you are doing business with a small bank, it's important to know who owns what, and who knows who.
Volcker Says Finance System `Broken,' Losses May Rise
Volcker Says Finance System `Broken,' Losses May Rise (Update1) - Bloomberg.com
ormer Federal Reserve Chairman Paul Volcker said the U.S. financial system, dependent upon securitization rather than traditional bank loans, is broken, and may contribute to the weakest expansion since the 1930s.
This bright new system, this practice in the United States, this practice in the United Kingdom and elsewhere, has broken down,'' Volcker said today at a banking conference in Calgary.Growth in the economy in this decade will be the slowest of any decade since the Great Depression, right in the middle of all this financial innovation.'
Feds' error gives duck stamp callers some fowl language
Associated Press (It's time for a laugh.)
"WASHINGTON People calling a federal phone number to order duck stamps are instead greeted by a phone-sex line, because of a printing error the government says would be too expensive to correct. The carrier card for the duck stamp transposes two numbers, so instead of listing 1-800-782-6724, it lists 1-800-872-6724. The first number spells out 1-800-STAMP24, while the second number spells out 1-800-TRAMP24. People calling that second number are welcomed by "Intimate Connections" and enticed by a husky female voice to "talk only to the girls that turn you on," for $1.99 a minute. Duck stamps, which cost $15 a piece, are required to hunt migratory waterfowl. The government uses nearly all the revenue to purchase waterfowl habitat for the National Wildlife Refuge System. This year's stamps, which feature a pair of northern pintail ducks, went on sale July 1 and are good through June 30 of next year. The error will not be corrected until next year's duck stamps."
404 Error, No such article | Chron.com - Houston Chronicle
It comes in pint bottles that fit neatly into your back pocket. Plastic is available too.
Panda...
Small banks are owned and have boards consisting of local businesses....and large banks are owned and have board of big MNCs.
There is no such thing as seperation of church and state in banking.
Never was!
Never will be.
FFDIC...niiiice.
Kneel_before_Zod writes:
FFDIC...niiiice.
Kneel_before_Zod | 09.05.08 - 3:40 pm | #
I have an urge to pump my shotgun.
Angry Saver:
Try ubuntu Linux: Ubuntu Home Page | Ubuntu
Rate cuts don't matter at this point. Like Volcker says, we are looking at a Japanese style "Lost Decade." Will we go to ZIRP? I don't think so, but it doesn't matter. Japan's experience has shown us that it doesn't matter how accomodative the central bank is, reflation won't happen for a very long time. The Japanese kept saving and not spending because they expect to need that cash in their old age. Americans are being forced to save because credit is being taken away. We are going to have to pay for all of the reckless excess consumption that has taken place.
Lucky number 4000
Barton Biggs Says U.S. Stocks `Close to Bottom,' May Rally
"Will we go to ZIRP? I don't think so, but it doesn't matter. "
We have been for a long time.
When inflation is higher than the FFR and effective interest rates you've got it. And we've had it for more than two year's
Ciao
MS
KBZ...point taken. It seems that for the person on the street, when the large bank that their checking account is with gets busted, it's a more impersonal thing. Whereas when the developer and doctor who are the big shots in a smaller community, it's more of a punch to the gut.
SSDIC, I'd call if Daisy Duck would talk dirty to me. That sexy little hussey.
I'm having severe typing issues today. Sorry, FFDIC.
Rob Dawg,
In response to the earlier thread, my source for the gross state products is the BEA. It shows CA having a GSP of 1.8 trillion $, which is 13.2% of the 13.7 trillion $ US GNP.
BEA : Something unexpected has occurred
Best,
@ angry saver
buy a mac
Would I be correct to assume that Prime mortgages tend, on average, to be for greater amounts than sub-prime mortgages? If so, defaults for an equal number of prime mortgages will result in a much higher dollar loss.
Dang it, that link failed. Try this one. In step 3 select "All States and Regions".
BEA : Gross Domestic Product by State
rew,
I don't recommend assuming, but you are correct, sir.
I am assuming you are a man, of course.
Me thinks the market doesn't pay enough attention to revisions in the unemployment data. And oh yeah, this foreclosure data too...not to mention trailing PE ratios. When is this market going to plummet to its appropriate depths?
I predict the optimists will become realists. But not until the smart money is all out. The saga continues.
Angry Saver writes:
OT
I have another computer that locked up today. Will only run in "Safe mode" after "dumping data" during normal start up.
Any suggestions would be appreciated.
Angry Saver | 09.05.08 - 2:45 pm | #
At last an easy problem with an easy answer!
Buy a Mac - I surf naked (no virus protection) and never have problems. I have never seen "safe mode" on a mac. I have used a mac and connected to the "internet" for almost 20 years (yes, at first with a 300 baud modem - ouch!) without a hitch. Someone suggests reformatting your hard drive? Have never done that on a mac. Steve Jobs may irritate you, but if you want a computer that works without a lot of hassle, get a mac.
I own no AAPL stock, but I do sometimes shudder at the man-hours that are lost to trouble-shooting the Windows OS.
Sorry for the OT rant, but really, there is an easier way than Windows . . .
OT:
Samsung Electronics Co. is pursuing an acquisition of U.S. computer memory card maker SanDisk Corp.
Yahoo! 404 - Page Not Found
You are all Korean now.
Unless Q2 GDP is revised MUCH lower Q3 comps are going to SUCK, BIG TIME!
completely OT -
Insider at AAA says claims payments down from $50 million per month to $38 M per month, due to less driving and fewer accidents.
However, fraud in the forms of auto fires / theft is up. Investigations arm is busier than ever. As in, "My SUV is gone / on fire." Suburbans and the bigger cars are a favorite.
Although Ford has a cruise control problem, as the de-activation switch beneath the master cylinder (live juice) gets dripped on by leaking oil, and that's not fraud.
Mac is a good choice for those with more money than time and a need for their box to "just work".
Now with parallels, vmfusion, or your VM of choice....OR Boot Camp....dispite the stupid commercials...Mac and Windows can live in harmony.
I prefer linux for the desktop. In the process of tackling BSD.
I'd like Macs more if Jobs wasn't such a douche.
Can I haz ultra squeeze? Kaboom SRS, SKF, SMN, FXP, REW, EEV etc. etc.
Big boys slashing off the flies with their donkey tails.
Bell Curve can I borrow that AAPL stock for a year?
Once again, this blog helps me. So I added to my WFC short - because in addition in the difficulty in placing a loan yesterday, they have a CC portfolio, a autoloan portfolio, a HELOC portfolio, a fiddle where they pushed out the recording of losses last quarter ( decided a delinquent loan was later than they used to treat it ), 47% of the prime loan portfolio is ARM !
Yet it doesn't trade like this at all, IMO. So, add to the short today.
-K
I would not allow bobcats in my neighborhood. I would shoot those bastards.
If Sarah Palin can kill critters, we all can. And we must.
re: energyecon 3:06 and 3:16
that graf looks superexponential to me (too?), but data are noisy
Angry Saver,
I'm with the rest of them. Get a Mac. I got one 3 years ago and havent looked back. (Actually i just got another)
If not back up your files and reformat. As others mentioned linux has also come a long way...
............
"I would not allow bobcats in my neighborhood. I would shoot those bastards."
Go ahead and shoot them if it makes you feel better, but I'd be more afraid of speeding cars in the neighborhood. Betcha won't shoot those, though.
Breaking News - According to WSJ main page:
"Treasury is close to finalizing plan to backstop F&F. Plan includes Sr management changes. Full article coming soon."
Kung Fu Panda wrote, "The Japanese kept saving and not spending because they expect to need that cash in their old age."
They're going to be very sorry that their government arranged for them to loan a large fraction of it to us.
Here's some good news:
By VIKAS BAJAJ
Published: September 5, 2008
Home foreclosures hit another record in the second quarter, but in a sign of improvement, the number of borrowers falling behind on payments dropped for the first time in more than two years, according to a report released Friday.
Foreclosures Rose as Delinquencies Eased in Quarter - NY Times
Anyone want to call a bottom?
(jk)
Can I haz bailout?
FNM AND FREddie Mac
get their dough.
Paulson had a bazooka.
The foreign central banks will get their boost to get out.
If they are smart.
Now the dollar resumes course!
Someday this war's gonna end...
I thought that news came out a month ago, GH.
If you think this is contained to the US - think again.
Here is the best rant I've yet seen and it's based in the UK:
Old Holborn
Gavshire Hathaway good find!
Now hurry up WSJ...
If you don't want bailouts, send a message in November. Vote against any incumbant.
I think we can all agree that the republicans have been the most fiscally reckless party in our Nation's history.
sidd,
yeah, that's why I looked at the growth rate over longer periods - but whatever the 'right' answer is, the trend is clear - increasing at an increasing rate. And that will continue as the prime ARM's blow up, and the adverse loop effects of economic contraction catch more of the fixed prime mortgages...
Markets closed. Where's our BFF post? Anybody hear anything about pizza bulk orders in Newport Beach?
There it is
U.S. Near Deal on Fannie, Freddie - WSJ.com
F&F...
.........
Lol, that is a story? Breaking news: News coming soon....
Vespatian that is good. Too bad not one friggin American has the balls to stand up like that little lady.
Close to having a plan, but certainly more than a hope - I mean, these guys had MEETINGS fer - er, wait a sec... I mean these guys have PLANS for meetings fer goodness sake...it'll be creative and everything!
Republicans are TRAITORS
Dear dumb ass, it doesn't mater which party gets elected in Novemeber, the system is rotten and voting in a bunch of new business back whores isn't going to change a goddamn thing. FYI
Lol, that is a story?
Seriously. I was all excited and then realized (after i had posted it) that it was little more than the info in the headline!
...........
New regulator, new lending facility, same fundamental problem.
S H O R T B U C K Y ! !
There's lots of speeding cars in the neighborhood and everybody is used to them. But I could not sleep well at night knowing bobcats lived next door. I'll bet you couldn't either.
Raccoons in the tree outside give me willies. And bobcats eat raccoons.
"Raccoons in the tree outside give me willies. And bobcats eat raccoons."
I hear they taste like squirrel.
CONJURESCOPE
Paul Kasriel concurs with Conjure Bag
'Inflation Threat Diminishing Rapidly'
http://www.ntrs.com/popups/popup_noprint.html?http://web-xp2a-pws.ntrs.com/content//media/attachment/data/econ_research/0809/document/WR090508.pdf
Rich, you and some bobcat friends of mine should go out for a beer sometime.
rich,
Lots of wild creatures live near me and I'm not afraid, because they are afraid of people.
Gross gets hiz bailout.
Pimpco.
I swear he just said it...
Bill G. should retire and sell out at the top.
Half the year in Newport and half in Switzerland.
Someday this war's gonna end...
The false dichotomy that is the deflation/inflation argument will soon be revealed as the dollar is sacrificed to the GSE gods.
Time to stock up on torches and pitchforks. If that ass Gross gets a bailout, I'm never paying taxes again.
Bobcats, pffft, when we have Cougar or Grizzly sightings, then I watch my back.
No failues yet...
"I'd like Macs more if Jobs wasn't such a douche."
Amen.
IMO, ubuntu is so much more flexible and stable than the macintoy OS.
WSJ has an article titled,
Treasury Is Close to Finalizing
Plan to Backstop Fannie, Freddie
Precise details of Treasury's plan couldn't be learned. The plan is expected to involve a creative use of Treasury's new authority to make a capital injection into the beleaguered giants.
The plan includes changes to senior management at both companies, according to a person familiar with the plans.
An announcement could come as early as this weekend. . . .
Link:
U.S. Near Deal on Fannie, Freddie - WSJ.com
East coast looks all clear...
Does anyone else get these nervous shivers when hearing of "creative" solutions in finance now?
I hear they taste like squirrel. - nades
Everything tastes like squirrel if you just cook 'em wrong.
Conjure is confused by thinking CPI isnot going to remodel. President Nixon froze auto prices. The Big Three merely introduced "new" models same as the old models but with new prices and names. CPI will experience the same.
Perhaps Treasury is going to sell F&F to a Korean bank...
After hours loving that F&F non-news.
Look at the shiny, come to the shiny...
Pay no attention to record foreclosure starts and a five year high in the UE rate...
Shiny...shiny...follow the shiny...
"Perhaps Treasury is going to sell F&F to a Korean bank"
Treasury vists this site...please dont give them any ideas.
worse, "creative" in proximity to any "new authority" of the US govt.
"Conjure is confused by thinking CPI isnot going to remodel. "
Huh? We just deal the cards we're dealt. You're talking about a whole new deck. Where did that come from?
Does Conjure have opposable thumbs?
just wonderin'
...........
mp writes:
"Conjure is confused by thinking CPI isnot going to remodel. "
Huh? We just deal the cards we're dealt. You're talking about a whole new deck. Where did that come from?
Core CPI is lagging inputs like energy. Core CPI is leading stimulus. With the stimulus gone and enegy working through I don't think we've seen the monthly highest rate of increase by at least 3 (October reported) months.
"I'd like Macs more if Jobs wasn't such a douche."
I'd like Macs more if their zealot users weren't such douches.
It's a friggin OS[and with aapl, overpriced hardware], not a cult.
Rich,Bobcats and mountain lions are protected species in California.shoot one and you find out the meaning of ugly(jail time,fines,pickets outside your door,death threats,etc).Got both in my neighborhood,and a lion killed a neighbor's dog last month.Horrible dog,glad it is gone.
I guess you didn't get the memo.
Conjure said, "Peak core CPI: 09-Q1"
ew thread!
Coulda swored conjure said Aug '08 would be the peak.
FRE and FNM to the dollar menu?
@RobDawg
CONJURE BAG THOUGHTS
*******CONJURESCOPE*******
Inflation Peaks: 2009-Q1
Housing Craters: 2010-Q2
Time series forecast, subject to revision
ROAD KILL DEPARTMENT
This year's road kill:
Fannie, Freddie, Lehman,
Washington Mutual
"Have a nice day"
mp | 08.20.08 - 9:15 pm |
HaloScan.com - Comments
Uncle Ar,
No, its a cult. Really. They just worship an OS and overpriced hardware is all.
I've never used ubuntu linux, but have been reasonably happy with debian.
hey, rich-
Leave the bobcats alone, they are good neighbors, eat hairless tailed squirrels. I got cougars and coyotes in my neighborhood, we get along fine, they limit the holes on the golf course to just the ones the balls are supposed to go in.
Besides, everyone knows having an occupant helps keep the home from deteriorating.
Angry Saver... have you installed anything lately? like maybe windows service pack 3? I did the other day and my computer wouldn't start right. I had to start in safe mode and go to add/delete programs and uninstall SP3. Worked fine after that.