NEW YORK (MarketWatch) -- Citigroup Inc. plans to spend about $10 million on new offices for senior executives, according to a Bloomberg report Thursday.
The changes at the bank's headquarters in New York City will include a new office for Chief Executive Vikram Pandit.
The project is made up of 17 private offices, two conference rooms and open areas, reported Bloomberg.
13 bailed out companies owe you, the taxpayer unpaid taxes. 2 owe more than 100 million each. =-O
That's ok though. The taxes and penalties will soon be paid back to you, as soon as they receive another Trillion in bailouts. (latest plan in the works...announcement on Leno)
Until some other country is willing to step up to the plate and have their govt deficit spend, to an enough scale to satisfy the world's demand for reserve papers and "banking space", there's no replacing USD as the reserve currency. A reserve currency must also be backed by a large govt that can defend large claims, even militarily if need be. For example, the world can't have a Swiss reserve currency. On the table that ranks of economic ris
oops... here's the rest: On the table that ranks of economic risk, USD losing reserve status isn't that high on the list right now. In fact, the problem right now is too many foreign banks and hedge funds are running to safety and pinning USD "to the ceiling" which is a death sentence long term.
They call up the states, ask how many cars of what kind do you have, and use established regional traffic patterns to estimate fuel usage, then they probably combine that with the amount of fuel sold (which they know from federal gas tax receipts).
You know with a high degree of certainty how much gas was sold, and how many cars of what type are registered, so with decent estimates of traffic patterns you can at least estimate trends on mileage.
Here's a cost saving measure from today's lead story in the New Jersey Star-Ledger:
"Men who receive erectile dysfunction drugs through Medicaid or the state Pharmaceutical Assitance to the Aged and Disable program would no longer have their prescriptions covered."
Actually, how about making it into a budget gap CLOSING measure - sounds like a candidate for a tax, just a small one ....
No, the FHWA uses a very reliable model that includes gas taxes, toll counts, vehicle registrations, etc. This is a real number.
The government also has a site where vehicle owners can input their own observed fuel economy, which can presumably be used to improve estimations that say "car model X represents Y percent of the overall fleet; the fuel economy of X indicates that it was driven Z number of miles given that A gallons of fuel were purchased."
Bernanke signed America's economic death warrant yesterday. HE is screwing with common folks lives with the real consequences that we will have to pay for in one way or another. He is playing God with our lives.
The money changers have figured out many ways to game the new paridigm for their own greedy gain.
The Federal Reserve needs to be abolished now. This is not how a real economy is supposed to work and Bernanke needs to be stopped now.
Bernanke signed America's death warrant in response to Ron Paul's bill to audit the Federal Reserve. The federal Reserve Transparency Act, bill H.R. 1207, has 28 cosponsors and growing. Campaign For Liberty — HR 1207 Update
Please complete this petition urging your Congressman to cosponsor and a seek roll-call vote on Ron Paul’s Audit the Fed Bill -- the first step toward ENDING THE FEDERAL RESERVE once and for all!
I'm not unemployed, but I did buy a new UAW built vehicle last year (Chevy Colorado at a cheap price). I don't drive as much, because it's always at the dealer for repairs.
Sue (Capital S) says:Today, 9:24:19 AM PDT
Here's a cost saving measure from today's lead story in the New Jersey Star-Ledger:
"Men who receive erectile dysfunction drugs through Medicaid or the state Pharmaceutical Assitance to the Aged and Disable program would no longer have their prescriptions covered."
This explains CRs recent post on birthrates in 2007 and likely will explain the impending crash in 2010.
Good old Benny, moon launched commodities as a result of his dollar deviation manipulation, as unemployment is rising, demand is falling, the tax base is collapsing and goverment spending is skyrocketing, increaasing the deflationary spiral. What a guy.
Anonymous says:Today, 9:29:59 AM PDT
But...per the EIA weekly report, gasoline demand has been running about 1-2% ABOVE last year (on a 4 week rolling average) for the last few weeks.
Check inventory builds and driving age population growth.
Even with much lower gasoline prices in January 2009 ($1.84 per gallon) compared to January 2008 ($3.09 per gallon), the total vehicle miles driven is less because of the weaker economy.
All the gas you need to get to the job you no longer have.
Under what legal standing is the FED buying the 700 billion in CDS? I thought previously they were making loans backed by dodgy assets but now they are buying?
Traffic Volume Trends is a monthly report based on hourly traffic count data. These data, collected at approximately 4,000 continuous traffic counting locations nationwide, are used to determine the percent change in traffic for the current month compared to the same month in the previous year. This percent change is applied to the travel for the same month of the previous year to obtain an estimate of travel for the current month. Because of the limited sample sizes, caution should be used with theses estimates. The highway Performance Monitoring System provides more accurate information on an anual basis.
The dropoff in traffic in the PDX metro has been very noticeable. Areas that used to be major bottlenecks are frequently running at full speed. Saves me a lot of commute time.
debtinator says:
Today, 12:47:43 PM Invest in your children.
But not too much in any one child 'cause hard times bring unexpected deaths.
Invest in your friendships too. Make sure you have lots of oath-kinsmen to speak for you and defend you when times get hard. The intangible bonds you share with others are, along with your own skills, what you have when you have lost all material goods.
If you would be left without recourse or shelter if you were stripped of possessions and your house burnt, you're ill-prepared for the times ahead.
Debtinator...
Invest in your children..comment of the decade...
Give me a trailer, a nice left point break, a fine lady and some fish tacos and life is good..
Immense oil reserves... low crude price... demand being destroyed... and yet the price of gas remains fairly high. The amazing power of a monopoly-by-silent agreement.
If I am not mistaken his mother was Jewish so he is too, whether he likes it or not. He is a dyed in the wool Zionist, so one presumes he does.
The idea that the West depends upon Israel is beyond absurd. One could argue that many of the troubles of the West, indeed the world, come from Israel.
In my view, Obama should do all that he can, in spite of Israel Lobby retaliation, to de-link the US from Israel whose interests are not ours but rather in direct conflict with ours in most respects.
Anonymous says:
Today, 12:55:38 PM Come on you stupid ass Americans you can do it.
You can't answer debt with more debt. We need to do less in response to this crisis, not more. Otherwise, how will we get our out of control borrowing to square with our precipitously declining revenues?
Time for an austerity package just like the ones we used to cram down the throats of the debtor nations we created and enslaved out on the Periphery. That's what we need to be demonstrating for.
That's what people in France need too, 'cause their state was moribund before this crisis. The fact that the US is now patently bankrupt rather than just morally bankrupt doesn't change that.
In my weekly trek up and down from Dade to Brevard County, I noticed the number of trucks fall off, and the number seems to be rebounding. I'm not driving any less.
Also, my seller financed sale closed. It was sooo simple. 20% down 50% off peak. Young couple. Balloons in 4 years, but by that time, since it's amortized over only 20, the amount owed will have fallen over 10k to less than 75k. Amount paid actually affordable by young couple starting out who bought.
Heeere's a thought. Instead of the 3/4 inch thick package of papers you do for institutional lenders, how about just using the really necessary forms for amortizing mortgages, to wit:
Deed, note, mtg, closing statement, Bill of Sale, Mechanic's lien affidavit. With title clearing docs as necessarily such as affidavits that you are NOT the Jose Rodriguez with 3,000 judgments, or quit claim deeds or whatever, depending on the problem, if any.
No FIRPTA form, no Reg Z, which nobody understands anyway, off with their heads as to disclosure forms which nobody reads anyway. Time saved: priceless. Confusing avoided: priceless.
Outlaw neg am mtges, which nobody is giving now anyway.
Have explanation forms devised that people can understand. Tell them on JayWalking candidates. If a
person on the street can understand the explanation, then ok. If it's impossible for them to devise an understandable disclosure to say, Paris Hilton, who has an ABOVE AVEREAGE IQ of 105, then you can't grant that mtg at all.
Maybe the lenders will actually reduce their prices.
I suppose you could add the IRS form which allows reporting of the interest for tax purposes., the one saying what the monthly payment is--people want that--and the latest version of the mtg application signed.
The rest is useless crap. If people are not going to live there, and have claimed they are, does anyone think that they will not sign a form saying they ARE going to live there, to get a lower rate? Bah!!
Liz, these are all great ideas, and you need to bring them to the Florida legislature. We can give you feedback, but to make this real you'll have to get more involved in local politics. I think you should consider running. Seriously, no snark.
Almost all of the CR graphs for the last couple of weeks show a little bump up at the end. If it were just one or two graphs, I wouldn't think much of it, but this cuts across all kinds of different measures. Could mean something...
That little bump up mon all the graphs must mean something.....hell, after how many TTTTTTTTTrillion, going forward, I certainly feckin hope that there is a little bump up, going forward!
That highlights one of the big tradgedies of our financial tomfoolery. All the debt from these bailouts will be passed on to future generations. And much of the interest due will accrue to foreigners. What a raw deal for the next generation.
Today's financial shenanigans are a dis-investment in our children. All to save the bad actors. What we are doing is so wrong on so many levels.
Americans aren't going to dick around with meaningless protests. When it's time, we're going to go right to gunfire just like Russians and Somalians. Many people are preparing instead of wasting time on talk.
Anyone with a brain spends their time preparing for the future.
Whether it’s a natural disaster or man made disaster spending precious time on blaming and beating up others is stupid.
I.e. after Katrina, some immediately begin to re-build and are now better off then before.
Some spent their energy blaming FEMA or whomever, are still busy blaming someone else; and will never recover.
Very Eurotrash like to always be blaming others.
That said: we're all outraged that our tax dollars are going to bail out losers, but have no worries, to the degree that we support non profitable business's is the degree that our economy will suffer.
More specific those who are on the receiving end are the ones who have lived beyond their means and are up to their eyeballs in debt, they will not find new jobs at other financial companys, and the bonus money is likley already gone to pay another behind payment on that Hampton crappy McMansion.
It is us who elect our goberment!
My point is = I cant wait to kick the teeth out of the first rioter.
my plan is to get there before the cops.
"That little bump up mon all the graphs must mean something.....hell, after how many TTTTTTTTTrillion, going forward, I certainly feckin hope that there is a little bump up, going forward!"
I was just talking to an acquaintance whose company makes -- well, specialized electronic components used in industrial processes. Yes, sales are off the bottom made several months ago; but their latest bid is at cost -- the only way they feel they'll get the business. It's hardly the good times.
OK if I'm a shareholder with AutoNation, Am I happy about this...They are in dire straights becse they own a ton of chrysler, ford and chevy stores...Pimp Jackson-ceo is similar to Bill pimping Gross asking for handouts..
That highlights one of the big tradgedies of our financial tomfoolery. All the debt from these bailouts will be passed on to future generations. And much of the interest due will accrue to foreigners. What a raw deal for the next generation.
Just had lunch with some of my family members who have kids approaching college age, are in their 50s etc.
I'm hearing things like "60% of our wealth is gone". I'm worrying that some of their kids college plans are in jeopardy. I know putting 3 kids through college was a difficult prospect before the 60% haircut.
Obama and the government need to hurry up and do everything they can to fix this economy.
OK, not really, but I can certainly understand why people think this way.
30 bn of T bill auctions every week
No buyer
Fed turns up and buys
QE
USD goes bust
China exits Tbills
Stampede out of Tbills
USA goes bust
World goes bust
I also post comments to an irc channel as they appear on haloscan. Click for a web irc interface: Mibbit IRC client widget (Or join the irc server directly: irc.realize.org:9996 #calculatedrisk)
CRbot would like to take this time to have some words.
First, to our sagacious, wise, and knowing benevolent benefactor and bestower of revealing financial charts adorned with red and blue lines: Please, for the love of your immortal God of mortals, can we keep the comment and layout changes to a minimum? I'm tired of whipping the code janitor, and may have to escalate to electroshock. If that's not possible, could you possibly give CRbot a 'heads up'?
Secondly, if you wish to have a online chat, I have graciously provided an IRC channel, which is a time tested, script kiddie abused method of chatting on the internet. It would not fail or falter due to CR's ability to generate immense traffic, and it has a web interface kindly produced by mibbit.com. If you do not wish to link to Mibbit IRC client widget then I can provide you with a direct link to mibbit.
Thirdly, to the rest of you humans, don't mistake my politeness for caring, feeling, empathy, or some other kind of worthless emotion.
[Obama, 47, made clear yesterday he still has confidence in his Treasury secretary.
“‘He is making all the right moves in terms of playing a bad hand,” Obama told reporters at the White House yesterday. “I have complete confidence in Tim Geithner and my entire economic team.” ]
Slip ? I have a little experience playing bad hands. You size up the table and either fold or bluff. I guess Obama has decided bluffing is playing this bad hand well.
As a mind experiment, say that 96% of the American media was owned by Poles, who spent all their time misleading Americans and misreporting the news in order to trick Americans into fighting wars and assisting Poland to fight wars and commit massive crimes against humanity in order to build up a Polish empire, based on a crazed idea that some Poles have based entirely on mythology and wishful thinking that Poland should control most of Europe. Do you think that kind of media control might become a political issue in the United States? The Jews so dominate the American media that they are even able to suppress talk about their dominance!
Little OT: Remember the Dodd Amendment for no limits on bonuses - seems Dodd remembers all now, “I did not want to make any changes to my original Senate-passed amendment but I did so at the request of administration officials,” Dodd said in an e-mailed statement, he said there was no indication that the change was related to AIG, and he didn’t name the officials. Check the Congressional Record! Oh wait - they change that after the fact.
Mass protests are dependent on the organizing force. Should the unions pull a play from France and use their membership to protest then the message will get through. Should a mass of unemployed angry people spontaneously congregate and break some stuff then you will be a witness to the power of armed organized well equipped largely angry white men given liberty to kick ass.
I will make an exception to this, if the African American population gets organized behind their religious leaders and start protesting you will see real change. I will gladly join either group but will stay far away from any illegitimate protest. Who needs to be gassed and beaten for no gain? Pragmatic in my outlook.
emo?
4
This comment thread has been HALO-IZED by CRbot.
http://realize.org/cr/halokit.php?halourl=http://www.haloscan.com/comments/calculatedrisk/7643624077882815961
NEW YORK (MarketWatch) -- Citigroup Inc. plans to spend about $10 million on new offices for senior executives, according to a Bloomberg report Thursday.
The changes at the bank's headquarters in New York City will include a new office for Chief Executive Vikram Pandit.
The project is made up of 17 private offices, two conference rooms and open areas, reported Bloomberg.
How does DOT know this? Is this like the birth-death job creation model, which is nonsense?
The GPS chip they put in your ass.
So, you're asking "Is DOT really true"?
If you don't work, you don't commute (or vacation)....(I leave it to others to find the exception to prove the rule).
Hey CR,
How about a port traffic update:
Long Beach and Los Angeles port traffic slows in February - Los Angeles Times
The Port of Los Angeles | Maritime
February down 35.30% y-o-y and 2008 was already off the peak.
The Latest from Ritholz:
Intelligent Investing w/Steve Forbes
OPEC responds by decreasing output.
Face, meet knife, to spite nose.
--bh
Yes, it's unfortunate that OPEC has failed to realize that they need to do some "pump priming" if they want to see their profits going up.
Anonymous says:Today, 9:13:15 AM PDT
How does DOT know this? Is this like the birth-death job creation model, which is nonsense?
No, the FHWA uses a very reliable model that includes gas taxes, toll counts, vehicle registrations, etc. This is a real number.
shows that oil prices dont mean much - ergo, raise prices.
13 bailed out companies owe you, the taxpayer unpaid taxes. 2 owe more than 100 million each. =-O
That's ok though. The taxes and penalties will soon be paid back to you, as soon as they receive another Trillion in bailouts. (latest plan in the works...announcement on Leno)
Until some other country is willing to step up to the plate and have their govt deficit spend, to an enough scale to satisfy the world's demand for reserve papers and "banking space", there's no replacing USD as the reserve currency. A reserve currency must also be backed by a large govt that can defend large claims, even militarily if need be. For example, the world can't have a Swiss reserve currency. On the table that ranks of economic ris
oops... here's the rest: On the table that ranks of economic risk, USD losing reserve status isn't that high on the list right now. In fact, the problem right now is too many foreign banks and hedge funds are running to safety and pinning USD "to the ceiling" which is a death sentence long term.
The rally in USD has to stop or our country dies eventually.
DOT estimates it from a complex series of data:
http://www.fhwa.dot.gov/ohim/vm194.pdf
They call up the states, ask how many cars of what kind do you have, and use established regional traffic patterns to estimate fuel usage, then they probably combine that with the amount of fuel sold (which they know from federal gas tax receipts).
You know with a high degree of certainty how much gas was sold, and how many cars of what type are registered, so with decent estimates of traffic patterns you can at least estimate trends on mileage.
Here's a cost saving measure from today's lead story in the New Jersey Star-Ledger:
"Men who receive erectile dysfunction drugs through Medicaid or the state Pharmaceutical Assitance to the Aged and Disable program would no longer have their prescriptions covered."
Actually, how about making it into a budget gap CLOSING measure - sounds like a candidate for a tax, just a small one ....
Actually, how about making it into a budget gap CLOSING measure - sounds like a candidate for a tax, just a small one
Good Lord, you're not suggesting we should tax... thingy?
Monty Python's Flying Circus: Just the Words - Episode 15
No, the FHWA uses a very reliable model that includes gas taxes, toll counts, vehicle registrations, etc. This is a real number.
The government also has a site where vehicle owners can input their own observed fuel economy, which can presumably be used to improve estimations that say "car model X represents Y percent of the overall fleet; the fuel economy of X indicates that it was driven Z number of miles given that A gallons of fuel were purchased."
Bernanke signed America's economic death warrant yesterday. HE is screwing with common folks lives with the real consequences that we will have to pay for in one way or another. He is playing God with our lives.
The money changers have figured out many ways to game the new paridigm for their own greedy gain.
The Federal Reserve needs to be abolished now. This is not how a real economy is supposed to work and Bernanke needs to be stopped now.
Bernanke signed America's death warrant in response to Ron Paul's bill to audit the Federal Reserve. The federal Reserve Transparency Act, bill H.R. 1207, has 28 cosponsors and growing.
Campaign For Liberty — HR 1207 Update
Please complete this petition urging your Congressman to cosponsor and a seek roll-call vote on Ron Paul’s Audit the Fed Bill -- the first step toward ENDING THE FEDERAL RESERVE once and for all!
Link to Petition;
Campaign For Liberty — Petition Congress to Audit the Federal Reserve
Unemployed tend to drive less.
I'm not unemployed, but I did buy a new UAW built vehicle last year (Chevy Colorado at a cheap price). I don't drive as much, because it's always at the dealer for repairs.
Sue (Capital S) says:Today, 9:24:19 AM PDT
Here's a cost saving measure from today's lead story in the New Jersey Star-Ledger:
"Men who receive erectile dysfunction drugs through Medicaid or the state Pharmaceutical Assitance to the Aged and Disable program would no longer have their prescriptions covered."
This explains CRs recent post on birthrates in 2007 and likely will explain the impending crash in 2010.
Good old Benny, moon launched commodities as a result of his dollar deviation manipulation, as unemployment is rising, demand is falling, the tax base is collapsing and goverment spending is skyrocketing, increaasing the deflationary spiral. What a guy.
Response to Sue:
Oh no. Tax on sex? Don't give them ideas!!!
If enacted, they'll force you to wear a RFID like device and bill you when two RFIDs are in close proximity -- perhaps even, gasp, tax by the minute.
That would be hell! Don't give them ideas!!!!
Sounds like a potential Saturday Night Live skit!
Welcome to Viagra Falls.
But...per the EIA weekly report, gasoline demand has been running about 1-2% ABOVE last year (on a 4 week rolling average) for the last few weeks.
How are they going to keep track of this in a few of years, when most cars are going to be wind powered cars?
Ever notice those loops on the road, especially freeways? That counts traffic and measures speeds-used for federal funding.
Anonymous says:Today, 9:29:59 AM PDT
But...per the EIA weekly report, gasoline demand has been running about 1-2% ABOVE last year (on a 4 week rolling average) for the last few weeks.
Check inventory builds and driving age population growth.
Rising gas sales in February and March are not inconsistent with falling vehicle miles in January, since they are non-contiguous data sets.
IMF says Timothie's plan lacks details. - WTF? Were they on downtime? Did someone just plug them in again and old news is getting spewed out?
Contiguous => Contemporary
Uh. They're having problems sailing cars.
Even with much lower gasoline prices in January 2009 ($1.84 per gallon) compared to January 2008 ($3.09 per gallon), the total vehicle miles driven is less because of the weaker economy.
All the gas you need to get to the job you no longer have.
Congressional Democrats are growing increasingly nervous about the ability of Treasury Secretary Timothy Geithner and the Obama administration’s economic team to manage the crisis and effectively convey a coherent policy.
AIG Firestorm Has Democrats Edgy About Geithner, Team (Update2) - Bloomberg.com
Trouble in paradise? =-X
How will this impact the coming ethanol industry bailout?
ethanol industry bailout?
I'll drink to that!
It's not possible to succeed in the United States through hard work and honesty anymore, which was clear several years ago.
It's time to loot this motherfucker industrial-style.
Under what legal standing is the FED buying the 700 billion in CDS? I thought previously they were making loans backed by dodgy assets but now they are buying?
So, what happens when they start taxing by the # of miles driven?
On the source(s) of DOT's info:
Traffic Volume Trends is a monthly report based on hourly traffic count data. These data, collected at approximately 4,000 continuous traffic counting locations nationwide, are used to determine the percent change in traffic for the current month compared to the same month in the previous year. This percent change is applied to the travel for the same month of the previous year to obtain an estimate of travel for the current month. Because of the limited sample sizes, caution should be used with theses estimates. The highway Performance Monitoring System provides more accurate information on an anual basis.
Travel Trends (January 2009) -
January 2009 -
TVT -
Travel Monitoring -
Policy Information - FHWA
DIPing to China says:
Today, 12:37:17 PM
Under what legal standing is the FED buying the 700 billion in CDS?
LOL! "Rule of law"! What, these guys don't even have a fully formed rationale!
Dollar is getting killed.
No savers were saved by the FED.
When there is no clear commodity to save in there is no future.
Invest in your children.
I weep for America's children.
The dropoff in traffic in the PDX metro has been very noticeable. Areas that used to be major bottlenecks are frequently running at full speed. Saves me a lot of commute time.
AIG hearings live feed
debtinator says:
Today, 12:47:43 PM
Invest in your children.
But not too much in any one child 'cause hard times bring unexpected deaths.
Invest in your friendships too. Make sure you have lots of oath-kinsmen to speak for you and defend you when times get hard. The intangible bonds you share with others are, along with your own skills, what you have when you have lost all material goods.
If you would be left without recourse or shelter if you were stripped of possessions and your house burnt, you're ill-prepared for the times ahead.
Tim Geithner is in a classic corrupt/incompetent trap.
Debtinator...
Invest in your children..comment of the decade...
Give me a trailer, a nice left point break, a fine lady and some fish tacos and life is good..
tired of consumerism...
Hundreds of thousands of people marched in cities across France after unions called for a second general strike in two months to protest President Nicolas Sarkozy’s “inadequate” response to the economic slump.
Thousands March in France to Protest Sarkozy’s Economic Plan - Bloomberg.com
Come on you stupid ass Americans you can do it.
American's are wimps.
We don't march anymore. We riot after the TV stops broadcasting happy-happy explanations. ("Comfort facts" instead of comfort food.)
Give me a trailer, a nice left point break, a fine lady and some fish tacos and life is good..
Made me smile. And I don't even know what a left point break is (billiards?).
Wave!
Isn't Point Break a surfing term? See Point Break starring Keneau Reeves and Patrick Swaze (or however their names are spelled).
Immense oil reserves... low crude price... demand being destroyed... and yet the price of gas remains fairly high. The amazing power of a monopoly-by-silent agreement.
OT:
This is disgusting in the extreme:
I am not Jewish but... | Op-Ed Contributors | Jerusalem Post
I see J-People.
Same goes for BO's heritage like Murdock's. Yes BO has Jewish ancestory.
the retail sales numbers do not make sense in the context of this report. Prices are rising for sure but demand destruction seems to be overtaking it.
http://www.census.gov/marts/www/marts_current.pdf
yet another data point for the sureal
Anonymous says:
Today, 12:55:38 PM
Come on you stupid ass Americans you can do it.
You can't answer debt with more debt. We need to do less in response to this crisis, not more. Otherwise, how will we get our out of control borrowing to square with our precipitously declining revenues?
Time for an austerity package just like the ones we used to cram down the throats of the debtor nations we created and enslaved out on the Periphery. That's what we need to be demonstrating for.
That's what people in France need too, 'cause their state was moribund before this crisis. The fact that the US is now patently bankrupt rather than just morally bankrupt doesn't change that.
In my weekly trek up and down from Dade to Brevard County, I noticed the number of trucks fall off, and the number seems to be rebounding. I'm not driving any less.
Also, my seller financed sale closed. It was sooo simple. 20% down 50% off peak. Young couple. Balloons in 4 years, but by that time, since it's amortized over only 20, the amount owed will have fallen over 10k to less than 75k. Amount paid actually affordable by young couple starting out who bought.
Heeere's a thought. Instead of the 3/4 inch thick package of papers you do for institutional lenders, how about just using the really necessary forms for amortizing mortgages, to wit:
Deed, note, mtg, closing statement, Bill of Sale, Mechanic's lien affidavit. With title clearing docs as necessarily such as affidavits that you are NOT the Jose Rodriguez with 3,000 judgments, or quit claim deeds or whatever, depending on the problem, if any.
No FIRPTA form, no Reg Z, which nobody understands anyway, off with their heads as to disclosure forms which nobody reads anyway. Time saved: priceless. Confusing avoided: priceless.
Outlaw neg am mtges, which nobody is giving now anyway.
Have explanation forms devised that people can understand. Tell them on JayWalking candidates. If a
person on the street can understand the explanation, then ok. If it's impossible for them to devise an understandable disclosure to say, Paris Hilton, who has an ABOVE AVEREAGE IQ of 105, then you can't grant that mtg at all.
Maybe the lenders will actually reduce their prices.
I suppose you could add the IRS form which allows reporting of the interest for tax purposes., the one saying what the monthly payment is--people want that--and the latest version of the mtg application signed.
The rest is useless crap. If people are not going to live there, and have claimed they are, does anyone think that they will not sign a form saying they ARE going to live there, to get a lower rate? Bah!!
Liz, these are all great ideas, and you need to bring them to the Florida legislature. We can give you feedback, but to make this real you'll have to get more involved in local politics. I think you should consider running. Seriously, no snark.
Almost all of the CR graphs for the last couple of weeks show a little bump up at the end. If it were just one or two graphs, I wouldn't think much of it, but this cuts across all kinds of different measures. Could mean something...
"Uh. They're having problems sailing cars."
No problem at all. Sail boat fuel is wind. Wind energy can be electricity to power electric cars.
That little bump up mon all the graphs must mean something.....hell, after how many TTTTTTTTTrillion, going forward, I certainly feckin hope that there is a little bump up, going forward!
DQ Custom Reports Bay Area ReleaseD
Bay Area home sales climb above last year as median falls below $300K
Sexy D-
here's the scoop...May can't get here any faster....
http://www.aircharterbahamas.com/images/pavones_costa_rica.jpeg
Invest in your children.
That highlights one of the big tradgedies of our financial tomfoolery. All the debt from these bailouts will be passed on to future generations. And much of the interest due will accrue to foreigners. What a raw deal for the next generation.
Today's financial shenanigans are a dis-investment in our children. All to save the bad actors. What we are doing is so wrong on so many levels.
I'm ashamed. I'm also super frickin pissed.
Save us from dollar shower
Oh "The bearded one"
We are running with fear
From "the chosen ones"
"Come on you stupid ass Americans you can do it"
Americans aren't going to dick around with meaningless protests. When it's time, we're going to go right to gunfire just like Russians and Somalians. Many people are preparing instead of wasting time on talk.
Only dumb loser punks riot when times get tough.
Anyone with a brain spends their time preparing for the future.
Whether it’s a natural disaster or man made disaster spending precious time on blaming and beating up others is stupid.
I.e. after Katrina, some immediately begin to re-build and are now better off then before.
Some spent their energy blaming FEMA or whomever, are still busy blaming someone else; and will never recover.
Very Eurotrash like to always be blaming others.
That said: we're all outraged that our tax dollars are going to bail out losers, but have no worries, to the degree that we support non profitable business's is the degree that our economy will suffer.
More specific those who are on the receiving end are the ones who have lived beyond their means and are up to their eyeballs in debt, they will not find new jobs at other financial companys, and the bonus money is likley already gone to pay another behind payment on that Hampton crappy McMansion.
It is us who elect our goberment!
My point is = I cant wait to kick the teeth out of the first rioter.
my plan is to get there before the cops.
Mmm ya ok....I best run before someone F5's me to death....Here Kittie Kittie.
Whatever it takes to stop this vicious cycle is acceptable. No time like the now to get the sheep rioting for whatever reason, as long as they riot.
Bfatz, your are welcome to join in on whatever side you choose, just so long as you do join in. The end result is what counts most.
All this doom/gloom on this board has caused me to miss multiple 400% returns on the market in this last 2 weeks.
Thank you for being smart and realistic, whilst ruining my investing ideas.
"That little bump up mon all the graphs must mean something.....hell, after how many TTTTTTTTTrillion, going forward, I certainly feckin hope that there is a little bump up, going forward!"
I was just talking to an acquaintance whose company makes -- well, specialized electronic components used in industrial processes. Yes, sales are off the bottom made several months ago; but their latest bid is at cost -- the only way they feel they'll get the business. It's hardly the good times.
OK if I'm a shareholder with AutoNation, Am I happy about this...They are in dire straights becse they own a ton of chrysler, ford and chevy stores...Pimp Jackson-ceo is similar to Bill pimping Gross asking for handouts..
AutoNation to cover car payments for job loss
AutoNation to cover car payments for job loss
| Reuters
arrogant donkeyholes thruout the company...made some change off them though....
Lithia motors is similar...bad mix of vehicles...
Unblvbl says:
Today, 1:02:40 PM
Almost all of the CR graphs for the last couple of weeks show a little bump up at the end.
The aircraft is suddenly jolting upwards 'cause there's a lot more lift per pound now that the childrens' futures have all be jettisoned.
I seem to recall the Japanese even got a few quarters of anemic growth out of it, like, 20 years ago.
That highlights one of the big tradgedies of our financial tomfoolery. All the debt from these bailouts will be passed on to future generations. And much of the interest due will accrue to foreigners. What a raw deal for the next generation.
Just had lunch with some of my family members who have kids approaching college age, are in their 50s etc.
I'm hearing things like "60% of our wealth is gone". I'm worrying that some of their kids college plans are in jeopardy. I know putting 3 kids through college was a difficult prospect before the 60% haircut.
Obama and the government need to hurry up and do everything they can to fix this economy.
OK, not really, but I can certainly understand why people think this way.
Now now now...is this the end game ?
30 bn of T bill auctions every week
No buyer
Fed turns up and buys
QE
USD goes bust
China exits Tbills
Stampede out of Tbills
USA goes bust
World goes bust
Now now now...is this the end game?
Thakshin just won a new Cadillac! How does it feel to be so smart?
Anon, what part of this action gives you hope?
your dollars are worthless....send them to me!
My point is = I cant wait to kick the teeth out of the first rioter.
my plan is to get there before the cops.
Bring a whole lot more than boots, Republican.
If it's hardware your eluding to...got that covered Ace.
I got this too.
Thor Shield Anti-Taser/Anti-Microwave
http://www.youtube.com/watch?v=Y__ZmYhtbzo
New Thread: DataQuick: Foreclosure Resales now 52% of Sales in California Bay Area
http://www.calculatedriskblog.com/2009/03/dataquick-foreclosure-resales-now-52-of.html ( 0 comments ...You could be FIRST! )
I also post comments to an irc channel as they appear on haloscan. Click for a web irc interface: Mibbit IRC client widget (Or join the irc server directly: irc.realize.org:9996 #calculatedrisk)
CRbot would like to take this time to have some words.
First, to our sagacious, wise, and knowing benevolent benefactor and bestower of revealing financial charts adorned with red and blue lines:
Please, for the love of your immortal God of mortals, can we keep the comment and layout changes to a minimum? I'm tired of whipping the code janitor, and may have to escalate to electroshock. If that's not possible, could you possibly give CRbot a 'heads up'?
Secondly, if you wish to have a online chat, I have graciously provided an IRC channel, which is a time tested, script kiddie abused method of chatting on the internet. It would not fail or falter due to CR's ability to generate immense traffic, and it has a web interface kindly produced by mibbit.com. If you do not wish to link to Mibbit IRC client widget then I can provide you with a direct link to mibbit.
Thirdly, to the rest of you humans, don't mistake my politeness for caring, feeling, empathy, or some other kind of worthless emotion.
--Your keeps-going-and-going-and-going bot
CRbot: Like the terminator, I'm back. Again.
[Obama, 47, made clear yesterday he still has confidence in his Treasury secretary.
“‘He is making all the right moves in terms of playing a bad hand,” Obama told reporters at the White House yesterday. “I have complete confidence in Tim Geithner and my entire economic team.” ]
Slip ? I have a little experience playing bad hands. You size up the table and either fold or bluff. I guess Obama has decided bluffing is playing this bad hand well.
Six Jewish Companies Own 96% of American Media
As a mind experiment, say that 96% of the American media was owned by Poles, who spent all their time misleading Americans and misreporting the news in order to trick Americans into fighting wars and assisting Poland to fight wars and commit massive crimes against humanity in order to build up a Polish empire, based on a crazed idea that some Poles have based entirely on mythology and wishful thinking that Poland should control most of Europe. Do you think that kind of media control might become a political issue in the United States? The Jews so dominate the American media that they are even able to suppress talk about their dominance!
xymphora
"lot more lift per pound now that the childrens' futures have all be jettisoned"
Attention, old people.
Please proceed to the rear doors of the aircraft.
Attention, old people.
Please proceed to the rear doors of the aircraft.
Thank you. Unless you have a better plan for recovery considering (x) recessions during your lifespan.
Little OT: Remember the Dodd Amendment for no limits on bonuses - seems Dodd remembers all now, “I did not want to make any changes to my original Senate-passed amendment but I did so at the request of administration officials,” Dodd said in an e-mailed statement, he said there was no indication that the change was related to AIG, and he didn’t name the officials. Check the Congressional Record! Oh wait - they change that after the fact.
Mass protests are dependent on the organizing force. Should the unions pull a play from France and use their membership to protest then the message will get through. Should a mass of unemployed angry people spontaneously congregate and break some stuff then you will be a witness to the power of armed organized well equipped largely angry white men given liberty to kick ass.
I will make an exception to this, if the African American population gets organized behind their religious leaders and start protesting you will see real change. I will gladly join either group but will stay far away from any illegitimate protest. Who needs to be gassed and beaten for no gain? Pragmatic in my outlook.
bfatz says:
Today, 1:26:47 PM
If it's hardware your eluding to
Try "Alluding."
Bfatz- a song 4 u
YouTube -
Bfatz- a song 4 u
He's just got a rigid little knob at the idea of hurting a hippie or a black or sumthin.
Commuting traffic is lighter due to layoffs and under employment and I have realized a 10% to 20% gain in MPG as a result.