Why doesn't Treasury release the number of trial modifications started, the redefault rates for trial modifications (by month started) and the number of permanent modifications?
^_^ we have talked about this before, this program will be a small time success. the Treasury has performance anxiety
OT, but then again maybe not. It's a Fabian thing:
Justice Dept. Asked For News Site's Visitor Lists - Taking Liberties - CBS News
Sounds subversive:
Kristina Clair, a 34-year old Linux administrator living in Philadelphia who provides free server space for Indymedia.us, said she was shocked to receive the Justice Department's subpoena. (The Independent Media Center is a left-of-center amalgamation of journalists and advocates that – according to their principles of unity and mission statement – work toward "promoting social and economic justice" and "social change.")
"The size of the next wave of foreclosures depends on the success of the modification programs. And right now Treasury is leaving us in the dark ..."
OMFG!!! It's huge, it's monstrous, it, it, it looks like a huge wave, a tsunami, no wait, everything is dark now, the sun is blotted out, I can't see, but I sense danger. Lassie, go get Timmy!
sm_landlord, either the data is ugly or someone is having trouble crunching the numbers. If the news was good - and the data available - I'm sure we'd see it.
Before you can submit the paperwork proving your income, you need to find a job.
The one person I know under this program drives weekly from his home in North Carolina to where he grew up in DC to work in a bike shop for maybe $15/hour. There's no work where he's at so he should just walk and move back up. But he thinks he's getting a great deal.
NOTaREALmerican (profile) wrote (in reply to...) on Tue, 11/10/2009 - 4:16 pm
We're going to have friendly fascism, you betcha.
You already have the fascism, what do you think Bush II was? It's just failing to meet the challenges posed to the state. What, do you think the Authoritarian state in waiting is going to pull its talent from some invisible reserve of people who know what the fuck they're doing? Utopianism in grubby clothes. Crisis of policy cohort, not crisis of policy. Keep saying it til you understand it.
Authoritarian rule = same cadre of idiots, same mistakes. If the problem is that Congress and the Executive answer only to a few lobbyists and can't make policy outside the context of giving handouts to their owners, do you think ending elections will improve this? Sarah Palin, president in perpetuity. Sure, that'll do what to the dollar / Treasury complex, do you think? Will they print until the money they pay the troops is worthless paper, or will they be brought to heel by foreign creditors and crushed under debt servicing burden?
Think a little people. It's charming you all think matters will be settled when the grownups in policemen's uniforms kick down the doors, but the reality is, that part will just be a way to spend even more money with even less oversight.
The subpoena (PDF) from U.S. Attorney Tim Morrison in Indianapolis demanded "all IP traffic to and from www.indymedia.us" on June 25, 2008. It instructed Clair to "include IP addresses, times, and any other identifying information," including e-mail addresses, physical addresses, registered accounts, and Indymedia readers' Social Security Numbers, bank account numbers, credit card numbers, and so on.
Pssst. Did you hear? It turns out that not only does Ben have a tiny little modification but it doesn't always perform and even then no one is ever satisfied. It so pathetic he has to pay for it every time using the company credit card no less.
Where in NC and what position? Only reason I ask is I know a few people in DFW Texas area that are having more luck in NC than they are in TX in the job search front.
we have talked about this before, this program will be a small time success.
I have to wonder whether we have different definitions of the word "success".
Unless the entire point of the program was to give administration officials a convenient excuse to throw their hands up a few months down the road and say, "Hey ... we tried!"
Think a little people. It's charming you all think matters will be settled when the grownups in policemen's uniforms kick down the doors, but the reality is, that part will just be a way to spend even more money with even less oversight.
However, isn't the REAL question: How will the stock market respond?
I mean, this fascism (Republicans)/socialism (Democrats) debate is kinda pointless now, don't you think? Anybody have another Party to vote for? All that matters NOW is being part of the "capital class" and riding the foaming bubbles (as somebody so wisely said yesterday).
these guys are gradualists, always have been, always will be
don't waste a crisis, later they'll cite precedent minus context and then they won't be forced to withdraw before they shoot the legal wad into the citizenry
The EFF page (they're the nonprofit that handled Indymedia's response to the subpoena) sheds some additional light and has images of the subpoena itself.
I wonder how often respondents provide everything asked for in an illegal subpoena like this, without ever seeking counsel? That it often happens seems to me the likeliest reason a subpoena like this would be issued--it stretches credulity to think it's simply an "error".
Pssst. Did you hear? It turns out that not only does Ben have a tiny little modification but it doesn't always perform and even then no one is ever satisfied. It so pathetic he has to pay for it every time using the company credit card no less.
Yet he tells everyone he's got a bazooka in his pants-
Nov. 10 (Bloomberg) -- Former Bear Stearns Cos. hedge-fund managers Ralph Cioffi and Matthew Tannin were found innocent of misleading investors who lost $1.6 billion, the first major test of a U.S. effort to obtain convictions tied to the subprime mortgage crisis and subsequent recession. http://www.bloomberg.com/apps/news?pid=20601087&sid=a9aZjj0Fjzdw&pos=1
Where in NC and what position? Only reason I ask is I know a few people in DFW Texas area that are having more luck in NC than they are in TX in the job search front.
Mike, I think knowing is better than not knowing - even when the news is bad for the economy. It is going to come out someday.
BTW, it looks like October existing home sales were off the charts (thank to the first time homebuyer tax credit). This will be portrayed as good news - but it isn't.
Will they print until the money they pay the troops is worthless paper
'Will they print until the paper they give the troops is worthless as money..."
would be better semantically. No COLA in 2010. That's a start. Shooting the bonus marchers was bad PR; how about we just tell them, "go earn a real bonus like that patriotic banker" instead of begging for subsidized housing, education and training welfare under a WWII style GI Bill.
I just flashed on the mystery of the ignored users
When we post or save our comment, the screen takes us back to the thread. To navigate up and down, we need to left click on the thread. I just noticed that I clicked without noticing on the ignore user link. In checking I was ignoring Cinco and rocky.
I apologize for my thoughtless clicking. Though, it may someday serve me well when I am renditioned for my participation here.
Was that to me, Captain? He lives in Wilimington. As he explained, the movie industry did a lot of filming there until Georgia out tax-breaked them. He worked with movie set catering.
Nov. 10 (Bloomberg) -- Former Bear Stearns Cos. hedge-fund managers Ralph Cioffi and Matthew Tannin were found not guilty of misleading investors who lost $1.6 billion, the first major test of a U.S. effort to obtain convictions tied to the subprime mortgage crisis and subsequent recession.
Nan did you cut and paste? I guess they spotted the error.
“Purchases of U.S. consumers cannot be as dominant a driver of growth as they have been in the past,” Treasury Secretary Timothy Geithner said during a trip to Beijing this spring. “In China, ... growth that is sustainable will require a very substantial shift from external to domestic demand, from an investment and export-intensive growth to growth led by consumption.”
That’s one vision of the future.
But there’s a growing group of market professionals who see a different picture altogether. These self-styled China bears take the less popular view: that the much-vaunted Chinese economic miracle is nothing but a paper dragon. In fact, they argue that the Chinese have dangerously overheated their economy, building malls, luxury stores and infrastructure for which there is almost no demand, and that the entire system is teetering toward collapse.
they also went back in time to force salomon bros to invent mortgage securitization afterwards... and the next stop on the time machine was the BW talks in '72, just to make sure
AACORN and Obama sued to force banks to make loans to sub prime borrowers. The lawsuit led to the current economic situation
See: UPDATED: Obama Sued Citibank Under CRA to Force it to Make Bad Loans | Media Circus
Shill,
That link doesn't fit the administrations narrative. You should already be hearing s by now-
DOJ, like some four star generals, don't make mistakes
I'm not saying they never make mistakes. But to claim this is just a "mistake" is like smashing a car window to grab some valuables left on the seat, and then when caught claiming it was just a mistake and you thought it was actually your own car.
There's just too many serious procedural violations here for it to have been mere oversight.
CalculatedRisk,
The answer lies in the testimony given to the TARP COP panel last month. Treasury is hesitant to release the data as they don't want to show that their goal of 50% to 75% for successful permanent mods if way way off. Mrs. Warren pressed Assistant Secy (Herb Allison?) hard to even get a number out of him on how many they want to succeed.
It seemed clear Treasury wanted everyone to believe there were no predictions since this was something they've never tried and it was impossible to model... even though I guess others have tried this. Mrs. Warren kept repeating, "You have to have some estimation, you have to have an idea... you must have some modeling...".
Yogi and all: The first was just the few lines I posted. The story is updated now for those interested:
By Patricia Hurtado and Thom Weidlich
Nov. 10 (Bloomberg) -- Former Bear Stearns Cos. hedge-fund managers Ralph Cioffi and Matthew Tannin were found not guilty of misleading investors who lost $1.6 billion, the first major test of a U.S. effort to obtain convictions tied to the subprime mortgage crisis and subsequent recession.
...................
The acquittal may make it more difficult for the U.S. Justice Department to bring additional prosecutions for securities fraud related to the subprime market and the various financial instruments that were based upon it.
.......................
Prosecutors noted that the two men still face fraud charges in Manhattan federal court.
The case is U.S. v. Cioffi, 08-CR-00415, U.S. District Court, Eastern District of New York (Brooklyn).
Very different meaning, as OJ found out. Breach of fiduciary duty should be an easy case, but then you have to find the loot... The defendants are pros. They made billions vanish into thin air overnight.
But to claim this is just a "mistake" is like smashing a car window to grab some valuables left on the seat, and then when caught claiming it was just a mistake and you thought it was actually your own car.
When I was a young cadet, we were instructed that upon making an error, you tell your men "As YOU were", as though it was them making the mistake. The rationale, as it was explained to us, is that we wouldn't be there if it wasn't for them. No snark; I'm dead serious. I guess that's just one of the reasons I didn't fit in there
Thanks yogi plus takes up tons o space. I'll refrain in future. But...if you provide a live trackback to an article that's fair use even if you did, right? It doesn't really matter, I'll do as requested.
Don't worry; CR doesn't engage, but from time-to-time, you'll see a pissing match between Karl Denninger and Mish, or Zero Hedge and....who was it? I forget. Might've been CR or KD. It's no biggie. It's sort of like measuring pee-pees on the internet-
"IMAGINARY(inumber) Returns the imaginary coefficient of a complex number in x + yi or x + yj text format.
If this function is not available, and returns the #NAME? error, install and load the Analysis ToolPak add-in."
What, are you telling me Germany isn't going to be the bad guy for once?
If you'll recall, Germany was dragged into WWI because of a war declared by the Austro-Hungarian empire when Archduke Ferdinand was assassinated by a Serbian. That hardly makes them the bad guys in that one-
I work for a custom home builder. Yesterday, the owner of a company that supplies speciality building materials came by the office and met with me,He asked me "WHO is buying houses NOW?" I am not sure if he was incredulous that anyone could qualify, or if he just thinks that anyone who buys in this economy is just dumb. I told him the buyers are all women who have divorced well.
Not to sound too much like Jas, but, CR, where are you getting this off the charts data? Are you arguing that this October is better than boom Octobers? Is that what you mean by "off the charts"?
AACORN and Obama sued to force banks to make loans to sub prime borrowers. The lawsuit led to the current economic situation
If anything, it merely sped up the process slightly. Given the loose monetary policy, Wall Street would have found some other way to convert bank loans into reserve capital if sub-prime had been tightly regulated. It's nothing more than a symptom.
I repeat that in the NE there has been zero boom. Volumes are slightly higher than in 2008 during the spring selling season and down for the other months. Where are you getting your data? I certainly have no view about other regions, but you are completely wrong about the situation in at least MA.
I suspect that the whole NE region is suffering from something more systemic (demographics, tax burden, snowbird effect etc), wheras the nuttiest bubble sectors (FL,AZ,CA,NV) are getting a bounce at sub-jumbo ranges while the flyovers are getting genuine interest due to the relative impact of the tax credit.
Any high schooler can tell you that an imaginary rate of losses on imaginary assets means positive real returns.
Well, if your complex numbers are based on the square root of a negative one, when you multiply that by another sq root
of neg one, you get a "real" negative one.
I just want to know if CR is making a blanket US statement or a statement based on more regional knowledge. Off the charts means better than boom times five years ago (that's on the charts, right?). This is a serious relative statement, and I just don't see the evidence. I've always taken CR's statements as objective, but now I think he is biased to his specific region.
Unless of course, he has better data than I do. Which is unlikely but possible.
I repeat that in the NE there has been zero boom. Volumes are slightly higher than in 2008 during the spring selling season and down for the other months. Where are you getting your data? I certainly have no view about other regions, but you are completely wrong about the situation in at least MA.
From the local MLS so take it with a grain of salt...
"The median price for a home contracted for sale in October was $389,000 in Nassau County, just $1,000 lower than it was the month before. In Suffolk County, the median price actually rose slightly, from $320,000 in September to $325,000 in October.
MLSLI reports there were 2,223 homes contracted for sale last month in Nassau and Suffolk, that’s about 46 percent more than October 2008 and 32 percent more than October 2007."
Well, if your complex numbers are based on the square root of a negative one, when you multiply that by another sq of neg one, you get a "real" negative one.
That doesn't even make any sense. Which, given my poor grasp of abstract math, means it's probably correct.
And a fundamental principle of some algorithm that makes them lots of money.
Gorbachev Says Obama Should Start Afghan Withdrawal (Update2) - Bloomberg.com
I'm thinkin we'll win this time. For sure, actually. If everybody gives their 110% percent we can pull it off. They're a well respected team, with a pretty impressive home field record - and their fans are always tough, but in the last few games our team has really jelled. I'm confident of a victory.
If you'll recall, Germany was dragged into WWI because of a war declared by the Austro-Hungarian empire when Archduke Ferdinand was assassinated by a Serbian. That hardly makes them the bad guys in that one-
Fritz Fischer (Griff nach der Weltmacht) lays out in excruciating detail the claim that while this might have been the immediate precipitating event, the Germans were quite aware that their network of alliances made such an event inevitable and that they welcomed the equally inevitable consequence of war as they thought it would give them an opportunity to gain Lebensraum (plans were drawn up in 1914 to annex all of Belgium and parts of France and Russia, for example).
He doesn't really prove a case for German war guilt--his work was confined to German diplomatic archives and a demonstration of sole responsibility would need to show that nothing similar was going on elsewhere. I'm guessing similar searches in other countries' archives would turn up similar material.
A spike in October makes sense as folks were frantically trying to get their transactions completed in time to qualify for the $8K credit under its original terms...similar to behavior when rates were anticipated to go up (back before the glorious markets only let rates go down). Should make for a nice little rain shadow on the other side going into 1Q2010...
Mike in LI...thanks. I don't follow NY, only Upper NE. I should be more clear.
No problem what they fail to mention is that there is still probably 18 months of inventory - at least based on what MLS has listed. That doesn't count people who were trying to sell and gave up.
Oh yeah, that is ALL about Obama then... :rollseyes:
edit: Quotes came as is - no mods lol - got a link to original subpoena date?
I'm not saying who it's all about. I don't think it's reasonable to say it's "all about" either administration, and certainly not either President. I'm just trying to set the record straight.
I got the subpoena date off the image of the subpoena at the EFF page I linked to above, and below. It's a good read if you have any interest in the case.
If the internet has taught me anything, it's that the Germans are always the bad guys, Cinco.
Screw you and your 'facts' and 'reason'.
In that case, why ask: "What, are you telling me Germany isn't going to be the bad guy for once? "
I know, I know.....it's the curse of being an engineer.
My daughter, in her senior English class last week, was teamed up with a young man. They had to write a story together. He wanted to write about his brother who is in Iraq.
So they start writing, he asks her "Who are we fighting in Iraq? Is it the Germans or the Russians?"
I just want to know if CR is making a blanket US statement or a statement based on more regional knowledge. Off the charts means better than boom times five years ago (that's on the charts, right?).
How 'bout far better than one might reasonably expect given the circumstances?
I'm not sure any more,...we'll have to ask an accountant. IIRC, GM wrote off an imaginary 39 billion in tax loss carry forward which was a bad thing,...I think.
There's no such thing as "Germany" or "Russia" in 2009.
Not true at all. The current German borders are a fair representation of German nationhood and cultural identity. Under Wilhelm II, not so much - it was an overgrown Prussia with some Bavarians feeling almost as colonized as the Western Slavs that comprised such a huge chunk of "Germany".
In that case, why ask: "What, are you telling me Germany isn't going to be the bad guy for once? "
I know, I know.....it's the curse of being an engineer.
The German Empire is and was the official term used to refer to Germany from the unification of Germany and proclamation of Wilhelm I as German Emperor on 18 January 1871 to 1918, when it became a German federal republic after defeat in World War I and the abdication of Wilhelm II (28 November 1918).
You're right Yalt, I was conflating your comments with those of others - my apologies. One can only hope there will be an investigation from the Office of Professional Responsibility.
The 650,000 number is bogus. Many loans are being modified based on stated income. How well did that go? But to move from "temp" status to "perm" status you then have to reconcile reality with the fact that many lenders are just itching to pump out volume to get the $1,000 incentive.
yogi, I'm sure the good folks of western Poland would appreciate the benefit of your instruction in regards to the fact that their great-grandaddies were, in fact, Germans
we will be buying in 1Q2010 in the Houston area...
I have cash at the ready that was initially set aside for a down-payment, but I've decided to hold on to it in the event a more appealing business opportunity arises. No sense being locked into an illiquid leveraged asset during periods that reward available capital, is my thinking.
"World Bank Chief Economist Justin Yifu Lin staked out a strong position against forcing China to let its currency appreciate as a way to rebalance the world economy. “’Currency appreciation in China won’t help this imbalance and can deter the global recovery,’ he said in a lecture Monday at Hong Kong University.
“In an interview after the lecture, he said other countries shouldn’t intervene to keep their currencies cheap to boost their export sectors, calling it the ‘equivalent of protectionism.’”
This is the "chief economist" at the World Bank. What a pile of horse manure.
sp to 1300 he says!
Billionaire Fisher Sees S&P 500 Above 1,300 as Economy Recovers - Bloomberg.com
Translation: J6P isn't fully re-invested in equities yet. Ix-nay on the ash-cray until we can better position the retail investors to once again hold the bag.
Translation: J6P isn't fully re-invested in equities yet. Ix-nay on the ash-cray until we can better position the retail investors to once again hold the bag.
Make it look real enough, long enough, and the pension plans will go all in.
Didn't you just call for an investigation from the Office of Professional Responsibility for your insinuation that Yalt was being too single-minded in his analysis? I believe there was even an apology involved.
I just saw they pumped AMZN to $130/share, Ken Fisher is out pimping stocks are cheap again...man, all we need is another Abby Cohen sighting and the top is clearly in lol
The medicine is clearly impacting your reading comprehension for the worse...the apology was for conflating Yalt's comments with those of others. I echoed a previously made call for the Office of Professional Responsibility to investigate the over reaching US Attorney and Assistant US Attorney who issued the subpoena.
have you explained that to your wife who deferred her desire to purchase a home in July, 2007?
Had we bought in July 2007 in this area we'd be slightly ahead in terms of paying down principle compared to renting, but our monthly obligation would have been a good 30% higher. Given the area where we live, our rental costs (with utilities) are around $1450/month, but if we had purchased this house in this area we'd be above $2K. That means $550/month in savings and a lot more flexibility to accept a different job, or deal with an unexpected financial crisis.
However, the big miss was when we unexpectedly stayed in one town for three years longer than anticipated. Because we were only planning on being there for 2 years, we didn't consider buying a condo, and simply rented for what amounted to 5 years. When we moved there, condos were about $80K; by the time we left three years ago, they were closer to $200K. That was a missed opportunity.
The medicine is clearly impacting your reading comprehension for the worse...
I like my interpretation better. I think Tanta would have been proud if we went through the effort of creating an Office of Commentariat Responsibility.
rosethorn (homepage, profile) wrote on Tue, 11/10/2009 - 2:30 pm
* reply
* Ignore user
"World Bank Chief Economist Justin Yifu Lin staked out a strong position against forcing China to let its currency appreciate as a way to rebalance the world economy. “’Currency appreciation in China won’t help this imbalance and can deter the global recovery,’ he said in a lecture Monday at Hong Kong University.
“In an interview after the lecture, he said other countries shouldn’t intervene to keep their currencies cheap to boost their export sectors, calling it the ‘equivalent of protectionism.’”
This is the "chief economist" at the World Bank. What a pile of horse manure. **
I could be wrong, but he appears to be doing some multi-orifice simultaneous audio transmitting.
Obama's nominee as US ambassador to the UN Human Rights Council:
[Eileen Chamberlain Donahoe] received her B.A. from Dartmouth College, a Masters in Theology from Harvard University, her J.D. from Stanford Law School, an M.A. in East Asian Studies from Stanford University, and her Ph.D. in Ethics from the University of California's Graduate Theological Union.
The CNBC piece said "In order to move to a permanent mod, you have to prove it, so now we get to find out how many of those 'liar loans' were just that."
I assume that people who committed the biggest lies probably wouldn't choose to participate in the program. So the missing information, while interesting, wouldn't really tell us much about the proportion of stated-income loans that involved massive fabrication.
not looking for an opportunity, just a nice place to live that will allow my wife to fully engage her nesting drive lol
Hehe, we rented a nice detached bungalow with a big yard and a full basement. My wife seems to really enjoy the fact that someone else gets to deal with all of the structural expenses and we don't have to budget for a new roof, new windows, or plan how we're going to completely renovate the basement.
However, I recognize I'm living on borrowed time. I'm just enjoying it while it lasts.
yogi, I'm sure the good folks of western Poland would appreciate the benefit of your instruction in regards to the fact that their great-grandaddies were, in fact, Germans
Not Germans, necessarily, but officially citizens of the German Empire, with its capital in Berlin, Prussia its largest state. Who'd they fight for in WWI, by the way? You said there was no "Germany" in 1914. I pointed out that you're right, there was officially a "German Empire".
Maybe you could instruct the good folks of Hawaii that their great-granddaddies were, in fact, always Americans, since they are now.
not looking for an opportunity, just a nice place to live that will allow my wife to fully engage her nesting drive lol
I'm hoping virtual reality will advance enough to absorb that force should I ever need it to. Although I guess I'll be lucky that the price of a big fat nestable house will be cheap by the time I have to cross that bridge. But you're not kidding, I've seen that nesting instinct in women whether single or married
The risk we run, in public policy, is not inflation. It is lack of persistence, a premature reversal of direction, and of course the fear of large numbers. If deficits in the trillions and public debt in the tens of trillions scare you, this is not a line of work you should be in.
James K. Galbraith teaches at UT-Austin and is the author of The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too.
My Aunt Marybelle was a member of the Church of Christ, and they frowned on drinking. However, she said it was perfectly acceptable for her to boil down poke root, and mix it with Bacardi 151 since it was medicine
My wife is the prudent one. The only thing I might be applauded for is maybe recognizing a good idea when I see one. And even then, that presumes I had some sort of choice in the matter.
And on that happy note, enjoy your day, all. I'm outta here for the evening.
The decision was a setback to struggling borrowers who have turned to the courts in an effort to get help under the Obama administration’s housing rescue plan. On Tuesday, the administration said that more than 650,000 borrowers had begun trial modifications under the program. But some borrowers complain that they are being denied aid by their mortgage company, even though they qualify for help under the program. So far, the results of those efforts have been mixed.
I'm just trying to maintain an even keel for the universe
If people are congratulated on buying a new home, even if it is a bad choice for them, then I must do my part and give dues to those who exhibit conscious restraint
Borrowers don’t have a legal entitlement to loan modifications ... The lawsuit, which was filed in U.S. District Court in Minnesota and sought class action status, alleged that the Obama administration’s foreclosure prevention plan violated borrowers’ constitutional rights because homeowners who were denied help under the program weren’t given a written denial and an opportunity to appeal. The action sought to halt foreclosures on homeowners eligible for the Obama plan until the government put in place certain procedural safeguards, such as creating a formal appeals process.
From the WSJ article.
Looks like the administration forgot to ramp up some kind of federal administrative beaurocracy task-force to collect all of the paperwork and review any and all denials, and require resubmission of any questionable paperwork or forms before the foreclosure could proceed.
Unfortunate oversight; that right there would have got you like, 10 or 15 jobs, easy. And those would be GOOD jobs, with benefits and stuff.
No no volker, the universe as it exists today is the result of extended
chaos, acting upon itself. Default order. The least order that could be
expected.
lawyerliz (profile) wrote on Tue, 11/10/2009 - 5:02 pm
No no volker, the universe as it exists today is the result of extended chaos, acting upon itself.
Default order. The least order that could be expected.
What, me worry?
The least order that could be expected is indistinguishable from pure randomness. But strangely, probabalistic self-organizing phenomena happen just slightly above that state, yet they seem to give rise to high degrees of order. Luckily for us.
yes, the apocalypse is definitely upon us. not only is the blind gamer suing for violations of the ADA, but he's claiming financial loss because he can't participate in a virtual marketplace to sell virtual goods...
Beyond the denial of entertainment, the suit also contends that Sony's actions have caused visually impaired gamers a financial loss. Because Sony runs an official auction site where gamers can sell their in-game items for real money, the suit says Stern's inability to participate in that marketplace is costing him money.
I read parts of a title company jacket for a mtgee policy, just to see if there was
any relevance to securitizations. . .and clearly that jacket was written in another universe.
Assignees are nomally covered for defects, but in the sliced and diced world we
live in, I wonder. . .
I will note that it doewn't require payment if the insured created suffered or assumed
the defect made claim on.
LOL........"a lot of that paperwork has to do with those so-called "stated-income" loans"...........like "do you by chance have a "real" job"? They're not saying SQUAT, because they don't HAVE squat. Squat jobs and squat mods. The whole caboose is about to fly off the tracks...."
Treasury says 650,000 in trial home loan workouts"......yes, as in we've sent the boisterous occupants who've been setting bonfires inside the livingroom a letter saying to contact us....
....Even I could make up a better bunch of crap then THAT!
It was volker's turn to be in charge of the "end of the world" switch, and now we've got to suffer through another week because he's too lazy to do it.
It was volker's turn to be in charge of the "end of the world" switch, and now we've got to suffer through another week because he's too lazy to do it.
It was volker's turn to be in charge of the "end of the world" switch, and now we've got to suffer through another week because he's too lazy to do it.
Ohhhh that's why you guys never leave me alone in the clubhouse.
Oh, Bill (welcome), you are so naive---they wouldn't hesitate to
apply. I have no idea whether any of my clients lied, tho there are
some who insist the lenders lied for them.
There aren't enuf lawyers in the whole world, if they
all turned into prosecutors, nor jails, nor anything else.
But you knew that.
'Are there no prisons?"
'Plenty of prisons,' said the gentleman, laying down the pen again.
'And the Union workhouses.' demanded Scrooge. 'Are they still in operation?'
'Both very busy, sir.'
'Oh. I was afraid, from what you said at first, that something had occurred to stop them in their useful course,' said Scrooge. 'I'm very glad to hear it.'
'Under the impression that they scarcely furnish Christian cheer of mind or body to the multitude,' returned the gentleman, 'a few of us are endeavouring to raise a fund to buy the Poor some meat and drink, and means of warmth. We choose this time, because it is a time, of all others, when Want is keenly felt, and Abundance rejoices. What shall I put you down for?'
Wouldn't it be interesting if those seeking loan mods based on provable income were prosecuted for their loan fraud in the original documents?
Not that they would get anything......not that they'd want to go after a BIG fish,.......I have a feeling there will be a bunch of busy attorneys around for a LONG time raising Hell with everything that crawls out of the sea with anything more than a quarter in his pocket. Good luck to the "mouth-breather" who attempts to stand upright without the proper humility towards some hungry young attorney with a GIANT student loan to pay off.
Question from previous thread. When the GSE's sell MBSs to third parties are they insuring those mortgages? I understand that China is holding mucho agency debt -- how are they insured?
GMAC Financial Services, which has received $12.5 billion in federal aid, is negotiating for a fresh infusion of taxpayer funds because it has not raised enough capital to survive a deepening recession, the Federal Reserve said.
lol on this comment from below article
"Hey, GMAC is owned by Cerberus a private equity group worth untold billions. They also own most of the gun and ammo manufacturers. They have made billions off of gun and ammo sales since Obama's election. Let them dig in their own pockets. They stand to make billions off of the tax payers if we keep bailing them out."
this bailout of private companies who gambled and lost is another reason everyone needs to go to a fed building on Sat. 22nd....
I thought the recession was over?
Sdtfs, I think all those carefully copied docs did end up in dumpsters. the
lenders foreclosing claim that they can't even find the original notes, or mtges,
so where the heck are the inches of crap that they made my clients sign over the
years?
As opposed to the page which says I'm not the person who got all those
baaaad judgments. Some other Jose A. Rodriguez did that. . .
When I first went to work, I said geeze, you guys rely on that, and they
said yes, and you know the few times it was the same person, they
admitted it was them, thus, stopping the closing.
You know, I never cared about news stories concerning interest rates or boring stuff like bonds until I started reading so many financial blogs this year.
Caijing, the Chinese economic newspaper/magazine, has been officially shut down. I noticed a sudden lack of good content a while ago but thought maybe they were just censored around the 60th anniversary of the communist party.
11 years in business, shut down now, screw China, I liked Caijing's reporting, enjoy the karma
It's hard for me to believe that there are enough people who believe in it to have caused the crash.
I agree, as a declared belief. However, I think there are many people that think God is a capitalist and loves Merica best because he IS a capitalist. This unoffical belief is why there such a strong link between Fundamentalism and patriotism (the fish & flag bumper sticker thing).
Edit: and why Fundamentalism doesn't get pissed off at greed nearly as much as fornicating-harlots, for example.
Seven Democratic leaders make conciliatory statements; pledge cooperation with administration in promoting business revival; promise to abstain from “rash policies” and say business “should not be frightened”; ... praise Fed. Reserve Board.
And to think it was almost 80 years ago, seems like yesterday. Or even today.
Why doesn't Treasury release the number of trial modifications started, the redefault rates for trial modifications (by month started) and the number of permanent modifications?
A glut of gas is looming
The unexpected boom in North American unconventional gas production, together with the current recession’s depressive impact on demand, is expected to contribute to an acute glut of gas supply in the next few years. ... The looming gas glut could have far-reaching consequences for the structure of gas markets and for the way gas is priced in Europe and Asia-Pacific.
I suggest everyone read the entire documents, with particular attention to the investments required vs. those that are actually occurring with respect to oil production...just sayin'
"However, I think there are many people that think God is a capitalist and loves Merica best because he IS a capitalist."
Not all the strange quasi-Calvinists in the world could have caused the crash. These days crashes are most likely caused by people who worship money to the exclusion of God. But perhaps, in a way, the crash was caused, if not by all of us, then by most of us.
I suggest everyone read the entire documents, with particular attention to the investments required vs. those that are actually occurring with respect to oil production...just sayin'
Gee, oil goes into the 30s and all of a sudden people are reticent to invest billions in recovering $60 oil? Hoocoodnode?
What comes later? It sounds like the document is expecting huge increases in energy usage (out to 2030, anyway). Do you mean the drop in investment now causes a spike later?
(Damn it Jim, I'm a computer programmer not a capitalist !)
Given the huge amount of money certain people poured into corn Ethanol; we are going to see more pressure to raise the max amount of Ethanol used in gasoline. I've already heard rumors of reports that up to 20% causes no problems with most recent cars. In addition, CNG is going to become more available as the excess in natural gas causes producers to throw good money after bad. And DME is coming out of left field as well. Our demand for energy is likely to rise. Our demand for petroleum rising is less certain.
Given the huge amount of money certain people poured into corn Ethanol; we are going to see more pressure to raise the max amount of Ethanol used in gasoline.
I'd be surprised if that were the case. Incentives front loaded the investments and did not prove out. I hear a pronounced 'sizzle' emanating from this. Besides, there is not enough water.
Terry: Felix Salmon » Blog Archive » The Dodd bill: Generally very good | Blogs |
EHP - thanks - went through all 1,136 pages today - I beg to differ - it creates the equivalent of the Homeland Security Department for financial services oversight. It will take a decade to be implemented, plus the repubs, the House, and the administration do not agree with his approach
EDIT: add the state banking and insurance regulators to the list not endorsing his approach.
seriously, the CPC is a joke
they won't publish the list of books banned as imports to mainland china, only one of the reasons why no one in China reads. with counterfeit western content, it's a tv culture if there ever was one
workplace safety is just as bad as Dubai where they import slaves
the big goal for Sichuan is to cut smoking inside hospitals by 2012
40,000 people whose homes were flooded by the 3 gorges dam have neither received compensation nor are they counted as unemployed because they are now considered migrant workers
but the 41m x 83m x 32m granite bust of Mao Zedong is on schedule
So the other day at lunch i'm eating with my 2 coworkers. One mentions our other coworker and his wife are buying a house that is 4000 square feet. And i'm like, yeah that seems liek a giant house. So the coworker buying is a director at my job probably makes a bit over 100k , lets say 120k. his wife is a young lawyer .. they are 29 so lets pretend they make $200k combined. this isin the east bay in norcal.
Anyhow the house costs $940k in Alameda (and i happen to live there). So my coworker goes, well it was $980k the last time someone bought it in 2007. So I being party pooper extraordinaire at work, say that is ridiculous they should just wait, there are houses all ove rthe place foreclosing and they will be in debt forever and are getting raped.
So this is what gets me. My coworker goes, well its ok , i mean they like the house and its all good asl ong as they are happy (coworker saying this also wants to buy a house with his wife as well).
So I go... not that is just plain stupid. I kind of want a bugatti veyron. It would make me happy too and it costs a million dollars and all of you would call me an idiot if I could get a loan to buy one and bought one. Then I paused and thought for a moment. In fact a bugatti veyron being a limited edition and rare car would be a much much better house than a $940k house that is only down $40k from its 2007 peak.
YOu guys are with me right? given a million dollars you get the veyron every time? haha. I do not get the whole "but its a home, so its different". Its a pile of bricks. there are lots of them everywhere. they all have rooms and wires and pipes. for the most part you can make any o fthem your home. Why this one for $940k?
Saying that the “full force of the economic crisis will hit us next year,” Mrs. Merkel told legislators that “The problems will get bigger before things can get better.”
Wow, that's a pretty striking change of tone. What a difference not having to campaign for an election makes.
Terry
I doubted you would share Salmon's overall opinion, but it was probably one of the first informed responses on it. While I'm not sympathetic to the financial industry fearing regulation, I think the bill is a clumsy hodgepodge
I agree, but there is something about a house. Plus, NOBODY really believes that housing won't still increase in price. They're not makin' any more land ya know. It will take at least a generation for this to go away. I'm not sure I don't believe myself.
I have a few friends and coworkers who trade jokes with me about how this whole rally is a house of cards and is destined to crash and take down the economy. And yet they still tell me that real estate is like the best investment ever and how it's a good time to buy right now because prices came down. It's going to take a long time for people to get over the homeowner propaganda they've been fed for the last few decades.
get a beanie baby, put it on your desk
when asked why you have it, respond by telling them that beanie babies only go up in price
when they tell you no, tell them you don't believe it, talk about in the long run
when they come back to you with some data, hand them similar data on local housing prepared in advance
then shake their hand while saying "Socrates! Socrates...", then mysteriously go for an early lunch allowing your co-workers to freely wallow in the wisdom you imparted
All the numbers get badder worser sooner at that level.
I don't believe that most engines will handle that level of ethanol. The primary problem is that ethanol can break down many of the rubber/plastic seals that were designed for pure gasoline. As well it gives you worse gas mileage because of the lower energy content and results in more expensive car operating costs. But I do believe there are people who will play loose with the facts in order to improve the returns on investments in ethanol plants and, of course, enlist the farm lobby as an ally.
my really shallow justification was that the ferrari enzo at msrp was 650k and regularly goes for a million now. that and it was sort of a joke. but nonetheless i'd bet on a veyron at msrp over a house in ultra jumbo loan territory.
Is there some kind of problem brewing in residential real estate?
Many pigs today
CR wrote:
"And right now Treasury is leaving us in the dark ... "
I guess they figure if they don't have anything good to say....
Been away a while - very busy at work - but wow...could this mean not all is well in kick-the-can-land?
Before you can submit the paperwork proving your income, you need to find a job. And that's taking longer than usual these days.
OT, but then again maybe not. It's a Fabian thing:
Justice Dept. Asked For News Site's Visitor Lists - Taking Liberties - CBS News
CR,
Congrats for making: The Periodic Table of Finance Bloggers The Reformed Broker
Anyway, once again our host uses understatement to devastating effect. Transparency? You can't handle transparency!
so if a house falls in the shadow inventory, but doesn't show up in the listings, does it exist?
CR says:
^_^ we have talked about this before, this program will be a small time success. the Treasury has performance anxiety
volker the viking wrote:
I'm sure they just lookin for trrrrrsss.
Might be time to join the ACLU. Was kinda hopin Big O would restore that piece of paper thing concept. Looks like not.
volker the viking wrote:
Sounds subversive:
"The size of the next wave of foreclosures depends on the success of the modification programs. And right now Treasury is leaving us in the dark ..."
OMFG!!! It's huge, it's monstrous, it, it, it looks like a huge wave, a tsunami, no wait, everything is dark now, the sun is blotted out, I can't see, but I sense danger. Lassie, go get Timmy!
Transparency through obfuscation.
sm_landlord, either the data is ugly or someone is having trouble crunching the numbers. If the news was good - and the data available - I'm sure we'd see it.
Rob, thanks. Yeah - so much for transparency.
best wishes
Yalt wrote:
The one person I know under this program drives weekly from his home in North Carolina to where he grew up in DC to work in a bike shop for maybe $15/hour. There's no work where he's at so he should just walk and move back up. But he thinks he's getting a great deal.
NOTaREALmerican (profile) wrote (in reply to...) on Tue, 11/10/2009 - 4:16 pm
We're going to have friendly fascism, you betcha.
You already have the fascism, what do you think Bush II was? It's just failing to meet the challenges posed to the state. What, do you think the Authoritarian state in waiting is going to pull its talent from some invisible reserve of people who know what the fuck they're doing? Utopianism in grubby clothes. Crisis of policy cohort, not crisis of policy. Keep saying it til you understand it.
Authoritarian rule = same cadre of idiots, same mistakes. If the problem is that Congress and the Executive answer only to a few lobbyists and can't make policy outside the context of giving handouts to their owners, do you think ending elections will improve this? Sarah Palin, president in perpetuity. Sure, that'll do what to the dollar / Treasury complex, do you think? Will they print until the money they pay the troops is worthless paper, or will they be brought to heel by foreign creditors and crushed under debt servicing burden?
Think a little people. It's charming you all think matters will be settled when the grownups in policemen's uniforms kick down the doors, but the reality is, that part will just be a way to spend even more money with even less oversight.
Justice Dept. Asked For News Site's Visitor Lists - Taking Liberties - CBS News
Not "Big O's" case, entirely.
Pssst. Did you hear? It turns out that not only does Ben have a tiny little modification but it doesn't always perform and even then no one is ever satisfied. It so pathetic he has to pay for it every time using the company credit card no less.
"Why doesn't Treasury release the number of trial modifications started"
Maybe the problem will just disappear?
Where in NC and what position? Only reason I ask is I know a few people in DFW Texas area that are having more luck in NC than they are in TX in the job search front.
EvilHenryPaulson wrote:
Neil Kashkari, where did he go? Is he still doing loan mods?
CalculatedRisk wrote:
In some way, it is transparent. The Treasury just screamed out loud that there are few permanent mods.
I was thinking Jimmy Cayne may have left an impression on Geithner Bear Stearns’ Jimmy Cayne’s Profane Tirade Against Treasury’s Geithner - Deal Journal - WSJ
How CNBC's ratings are in the basement while Jimmy Cayne has spare time is beyond me. That would be a match made in heaven
I have to wonder whether we have different definitions of the word "success".
Unless the entire point of the program was to give administration officials a convenient excuse to throw their hands up a few months down the road and say, "Hey ... we tried!"
"The dark" is a scary place. What is even more frightening is when "the light" is even scarier...
Rob Dawg wrote:
Interesting; CR, Mish, KD and Dshort made the rocket science category, while zero-hedge was in the rogues gallery-
Precursor to another blog war?
Byzantine_Ruins wrote:
However, isn't the REAL question: How will the stock market respond?
I mean, this fascism (Republicans)/socialism (Democrats) debate is kinda pointless now, don't you think? Anybody have another Party to vote for? All that matters NOW is being part of the "capital class" and riding the foaming bubbles (as somebody so wisely said yesterday).
1 currency now -yogi wrote:
c'mon, you know who Fabius was
these guys are gradualists, always have been, always will be
don't waste a crisis, later they'll cite precedent minus context and then they won't be forced to withdraw before they shoot the legal wad into the citizenry
The EFF page (they're the nonprofit that handled Indymedia's response to the subpoena) sheds some additional light and has images of the subpoena itself.
From EFF's Secret Files: Anatomy of a Bogus Subpoena | Electronic Frontier Foundation
I wonder how often respondents provide everything asked for in an illegal subpoena like this, without ever seeking counsel? That it often happens seems to me the likeliest reason a subpoena like this would be issued--it stretches credulity to think it's simply an "error".
Rob Dawg wrote:
Yet he tells everyone he's got a bazooka in his pants-
CalculatedRisk wrote:
Don't discount the second option. Excel doesn't play nice with imaginary numbers.
Humm. I wonder how much money this cost?
Breaking:
Survey: Stimulus impact on business negligible
Survey: Stimulus impact on business negligible - South Florida Business Journal:
CaptainMorgan wrote:
I think the position is in DC-
Yalt wrote:
DOJ, like some four star generals, don't make mistakes
CalculatedRisk wrote:
Did you mean to say "massaging" the numbers?
What's Diana Olick's moniker on the CR board ?
Mike, I think knowing is better than not knowing - even when the news is bad for the economy. It is going to come out someday.
BTW, it looks like October existing home sales were off the charts (thank to the first time homebuyer tax credit). This will be portrayed as good news - but it isn't.
best to all
'Will they print until the paper they give the troops is worthless as money..."
would be better semantically. No COLA in 2010. That's a start. Shooting the bonus marchers was bad PR; how about we just tell them, "go earn a real bonus like that patriotic banker" instead of begging for subsidized housing, education and training welfare under a WWII style GI Bill.
Did you mean to say "massaging" the numbers?
No... fascist societies "crunch" numbers. They don't "massage" them.
In the US no one is "found innocent". Only not guilty beyond a reasonable doubt.
even a dumbass has a thought now and then
I just flashed on the mystery of the ignored users
When we post or save our comment, the screen takes us back to the thread. To navigate up and down, we need to left click on the thread. I just noticed that I clicked without noticing on the ignore user link. In checking I was ignoring Cinco and rocky.
I apologize for my thoughtless clicking. Though, it may someday serve me well when I am renditioned for my participation here.
CaptainMorgan wrote:
Was that to me, Captain? He lives in Wilimington. As he explained, the movie industry did a lot of filming there until Georgia out tax-breaked them. He worked with movie set catering.
And Socialist do not even know what a number is.
Dolts
AACORN and Obama sued to force banks to make loans to sub prime borrowers. The lawsuit led to the current economic situation
See:
UPDATED: Obama Sued Citibank Under CRA to Force it to Make Bad Loans | Media Circus
Nan did you cut and paste? I guess they spotted the error.
1 currency now -yogi wrote:
civil, not criminal
criminal is beyond a shadow of doubt
you know better
Yes Yogi, I did copy/paste.
Is China headed toward collapse?
Actually, I don't see where this matters at all. It's not as if anyone believed this would work.
BTW- some things are more transparent than others,... I think we'll have to talking about the refractive index soon.
shill wrote:
they also went back in time to force salomon bros to invent mortgage securitization afterwards... and the next stop on the time machine was the BW talks in '72, just to make sure
shill wrote:
Shill,
s by now-
That link doesn't fit the administrations narrative. You should already be hearing
i didn't realize that PE groups and hedge funds were disadvantaged minorities...
volker the viking wrote:
I'm not saying they never make mistakes. But to claim this is just a "mistake" is like smashing a car window to grab some valuables left on the seat, and then when caught claiming it was just a mistake and you thought it was actually your own car.
There's just too many serious procedural violations here for it to have been mere oversight.
CalculatedRisk,
The answer lies in the testimony given to the TARP COP panel last month. Treasury is hesitant to release the data as they don't want to show that their goal of 50% to 75% for successful permanent mods if way way off. Mrs. Warren pressed Assistant Secy (Herb Allison?) hard to even get a number out of him on how many they want to succeed.
It seemed clear Treasury wanted everyone to believe there were no predictions since this was something they've never tried and it was impossible to model... even though I guess others have tried this. Mrs. Warren kept repeating, "You have to have some estimation, you have to have an idea... you must have some modeling...".
Yogi and all: The first was just the few lines I posted. The story is updated now for those interested:
By Patricia Hurtado and Thom Weidlich
Nov. 10 (Bloomberg) -- Former Bear Stearns Cos. hedge-fund managers Ralph Cioffi and Matthew Tannin were found not guilty of misleading investors who lost $1.6 billion, the first major test of a U.S. effort to obtain convictions tied to the subprime mortgage crisis and subsequent recession.
...................
The acquittal may make it more difficult for the U.S. Justice Department to bring additional prosecutions for securities fraud related to the subprime market and the various financial instruments that were based upon it.
.......................
Prosecutors noted that the two men still face fraud charges in Manhattan federal court.
The case is U.S. v. Cioffi, 08-CR-00415, U.S. District Court, Eastern District of New York (Brooklyn).
http://www.bloomberg.com/apps/news?pid=20601087&sid=a9aZjj0Fjzdw&pos=1
Very different meaning, as OJ found out. Breach of fiduciary duty should be an easy case, but then you have to find the loot... The defendants are pros. They made billions vanish into thin air overnight.
volker the viking wrote:
Don't worry; I'm married and have become accustomed to it after 23 years-
What if the Treasury released numbers, and they didn't match with numbers from the lenders?
Cinco-X wrote:
Which big country will default first? PrudentBear
Nanoo try not to re"print" the whole article, which is copyrighted. You can make "fair use".
Assume Crash Positions wrote:
"IMAGINARY(inumber) Returns the imaginary coefficient of a complex number in x + yi or x + yj text format.
If this function is not available, and returns the #NAME? error, install and load the Analysis ToolPak add-in."
Is this a straight line or what? Perfect set-up,...
jeebus, people RTFM:
Yalt wrote:
When I was a young cadet, we were instructed that upon making an error, you tell your men "As YOU were", as though it was them making the mistake. The rationale, as it was explained to us, is that we wouldn't be there if it wasn't for them. No snark; I'm dead serious. I guess that's just one of the reasons I didn't fit in there
cinco-x
blog war?
NOTaREALmerican wrote:
What, are you telling me Germany isn't going to be the bad guy for once?
Colour me relieved.
Thanks yogi plus takes up tons o space. I'll refrain in future. But...if you provide a live trackback to an article that's fair use even if you did, right? It doesn't really matter, I'll do as requested.
gabyjan wrote:
Don't worry; CR doesn't engage, but from time-to-time, you'll see a pissing match between Karl Denninger and Mish, or Zero Hedge and....who was it? I forget. Might've been CR or KD. It's no biggie. It's sort of like measuring pee-pees on the internet-
some investor guy wrote:
I think he meant imaginary as in "made up"
Cinco-X wrote:
...even if you win, you're still sitting in the dark in your mom's basement with your pee-pee hanging out?
noob goldberg wrote:
If you'll recall, Germany was dragged into WWI because of a war declared by the Austro-Hungarian empire when Archduke Ferdinand was assassinated by a Serbian. That hardly makes them the bad guys in that one-
energyecon wrote:
Your quotation mark is in the wrong place: it should read
The subpoena was dated January 23, 2009.
I work for a custom home builder. Yesterday, the owner of a company that supplies speciality building materials came by the office and met with me,He asked me "WHO is buying houses NOW?" I am not sure if he was incredulous that anyone could qualify, or if he just thinks that anyone who buys in this economy is just dumb. I told him the buyers are all women who have divorced well.
Oh yeah, that is ALL about Obama then... :rollseyes:
edit: Quotes came as is - no mods lol - got a link to original subpoena date?
noob goldberg wrote:
Exactly. BTW, did you hear? The Nipponese discovered the secret ingredient in Viagra. It's:
.
.
.
.
.
.
.
.
.
Erectricty-
Not to sound too much like Jas, but, CR, where are you getting this off the charts data? Are you arguing that this October is better than boom Octobers? Is that what you mean by "off the charts"?
Cinco-X wrote:
Bingo. Although it wouldn't surprise me if the squid's quant boxes make frequent use of the square root of negative 1.
I don't know (if it's even been decided), but presumably Bloomberg.com needs hits to its site, to pay its reporters.
shill wrote:
If anything, it merely sped up the process slightly. Given the loose monetary policy, Wall Street would have found some other way to convert bank loans into reserve capital if sub-prime had been tightly regulated. It's nothing more than a symptom.
I repeat that in the NE there has been zero boom. Volumes are slightly higher than in 2008 during the spring selling season and down for the other months. Where are you getting your data? I certainly have no view about other regions, but you are completely wrong about the situation in at least MA.
(With apologies...)
Any high schooler can tell you that an imaginary rate of losses on imaginary assets means positive real returns.
O H Chick wrote:
Ouch. How did he react?
There's no chance that this has any relationship to the trouble with the FHA actuarial models, right?
Cinco-X wrote:
List Of The Day: George Carlin's Dirty Words List: Penis
grow up people
Cinco-X wrote:
If the internet has taught me anything, it's that the Germans are always the bad guys, Cinco.
Screw you and your 'facts' and 'reason'.
I suspect that the whole NE region is suffering from something more systemic (demographics, tax burden, snowbird effect etc), wheras the nuttiest bubble sectors (FL,AZ,CA,NV) are getting a bounce at sub-jumbo ranges while the flyovers are getting genuine interest due to the relative impact of the tax credit.
Gorbachev Says Obama Should Start Afghan Withdrawal (Update2) - Bloomberg.com
Eerie parallels...
Mike,
He just nodded glumly to himself--he didn't seem to know I was making a joke.
Well, if your complex numbers are based on the square root of a negative one, when you multiply that by another sq root
of neg one, you get a "real" negative one.
I just want to know if CR is making a blanket US statement or a statement based on more regional knowledge. Off the charts means better than boom times five years ago (that's on the charts, right?). This is a serious relative statement, and I just don't see the evidence. I've always taken CR's statements as objective, but now I think he is biased to his specific region.
Unless of course, he has better data than I do. Which is unlikely but possible.
token bull wrote:
From the local MLS so take it with a grain of salt...
"The median price for a home contracted for sale in October was $389,000 in Nassau County, just $1,000 lower than it was the month before. In Suffolk County, the median price actually rose slightly, from $320,000 in September to $325,000 in October.
MLSLI reports there were 2,223 homes contracted for sale last month in Nassau and Suffolk, that’s about 46 percent more than October 2008 and 32 percent more than October 2007."
This is for Long Island, NY.
Spaced Out » Home prices leveling off
He just nodded glumly to himself--he didn't seem to know I was making a joke.
Or he was all to familiar with that.
Mike in Long Island. I left you an answer after the pig. Thanks.
sdtfs wrote:
That doesn't even make any sense. Which, given my poor grasp of abstract math, means it's probably correct.
And a fundamental principle of some
algorithm that makes them lots of money.
More cookin in the government mortgage meth lab. Surely they can beat the Hope Now numbers. I mean after all, not hard to surpass 94 modified loans.
Mike in LI...thanks. I don't follow NY, only Upper NE. I should be more clear.
nova,
thanks for the continuing
age...
Unfortunately, the blog I pasted from had it wrong. (Justice Dept. Asked For News Site's Visitor Lists - Taking Liberties - CBS News
Good catch. US Atty's retain some independence (despite Gonzalez' efforts) but the Administration is ultimately answerable.
rosethorn wrote:
I'm thinkin we'll win this time. For sure, actually. If everybody gives their 110% percent we can pull it off. They're a well respected team, with a pretty impressive home field record - and their fans are always tough, but in the last few games our team has really jelled. I'm confident of a victory.
energycon,
Thank you. We both post
You have the best charts tho.
Cinco-X wrote:
Fritz Fischer (Griff nach der Weltmacht) lays out in excruciating detail the claim that while this might have been the immediate precipitating event, the Germans were quite aware that their network of alliances made such an event inevitable and that they welcomed the equally inevitable consequence of war as they thought it would give them an opportunity to gain Lebensraum (plans were drawn up in 1914 to annex all of Belgium and parts of France and Russia, for example).
He doesn't really prove a case for German war guilt--his work was confined to German diplomatic archives and a demonstration of sole responsibility would need to show that nothing similar was going on elsewhere. I'm guessing similar searches in other countries' archives would turn up similar material.
A spike in October makes sense as folks were frantically trying to get their transactions completed in time to qualify for the $8K credit under its original terms...similar to behavior when rates were anticipated to go up (back before the glorious markets only let rates go down). Should make for a nice little rain shadow on the other side going into 1Q2010...
A negative loss is a gain, right?
There was no such thing as "Germany" in 1914. That's ridiculous.
So I guess Paterson's hand-wringing over the State's tax revenues is perhaps just politics?
HollywoodHack wrote:
Interesting.
token bull wrote:
No problem what they fail to mention is that there is still probably 18 months of inventory - at least based on what MLS has listed. That doesn't count people who were trying to sell and gave up.
energyecon wrote:
I'm not saying who it's all about. I don't think it's reasonable to say it's "all about" either administration, and certainly not either President. I'm just trying to set the record straight.
I got the subpoena date off the image of the subpoena at the EFF page I linked to above, and below. It's a good read if you have any interest in the case.
From EFF's Secret Files: Anatomy of a Bogus Subpoena | Electronic Frontier Foundation
noob goldberg wrote:
In that case, why ask: "What, are you telling me Germany isn't going to be the bad guy for once? "
I know, I know.....it's the curse of being an engineer.
O H Chick wrote:
You mean you weren't serious?
My daughter, in her senior English class last week, was teamed up with a young man. They had to write a story together. He wanted to write about his brother who is in Iraq.
So they start writing, he asks her "Who are we fighting in Iraq? Is it the Germans or the Russians?"
lol. Other than nova, the only buyer I know is a woman who divorced well.
token bull wrote:
How 'bout far better than one might reasonably expect given the circumstances?
either the data is ugly or someone is having trouble crunching the numbers.
maybe it's Fisher crunching numbers
sp to 1300 he says!
Billionaire Fisher Sees S&P 500 Above 1,300 as Economy Recovers - Bloomberg.com
tennis_8?
nova wrote:
Just wow.
nova wrote:
There's no such thing as "Germany" or "Russia" in 2009. That's ridiculous.
nova wrote:
evil doers
Yalt wrote:
Gulf of Tonkin Incident?
NateTG wrote:
I'm not sure any more,...we'll have to ask an accountant. IIRC, GM wrote off an imaginary 39 billion in tax loss carry forward which was a bad thing,...I think.
JP wrote:
Not true at all. The current German borders are a fair representation of German nationhood and cultural identity. Under Wilhelm II, not so much - it was an overgrown Prussia with some Bavarians feeling almost as colonized as the Western Slavs that comprised such a huge chunk of "Germany".
Cinco-X wrote:
I'm sick and I blame the drugs.
German Empire - Wikipedia, the free encyclopedia
German Empire: - Wikipedia, the free encyclopedia
Cinco-X wrote:
The sinking of the Maine, perhaps?
Assume Crash Positions wrote:
Weapons of Mass Delusion?
I'm sure we can all agree that countries only go to war when they are forced, forced I tell you, by the enemy,...or their national interests.
You're right Yalt, I was conflating your comments with those of others - my apologies. One can only hope there will be an investigation from the Office of Professional Responsibility.
The Lusitania, perhaps...
The 650,000 number is bogus. Many loans are being modified based on stated income. How well did that go? But to move from "temp" status to "perm" status you then have to reconcile reality with the fact that many lenders are just itching to pump out volume to get the $1,000 incentive.
energyecon wrote:
Well don't we think a lot of ourselves to warrant an official investigation for a simple web forum comment.
Panama?
Given the
holds off until then, we will be buying in 1Q2010 in the Houston area...
1 currency now -yogi wrote:
who was Sec of the Navy and who was First Lord of the Admiralty at the time?
yogi, I'm sure the good folks of western Poland would appreciate the benefit of your instruction in regards to the fact that their great-grandaddies were, in fact, Germans
Look! Up in the sky! It's a bird! No, it's a plane! It's...
Super Bank Cop!
Churchill and Roosevelt?
energyecon wrote:
I have cash at the ready that was initially set aside for a down-payment, but I've decided to hold on to it in the event a more appealing business opportunity arises. No sense being locked into an illiquid leveraged asset during periods that reward available capital, is my thinking.
Assume Crash Positions wrote:
Another goody-
The gunfight at the OK Corral?
Comrade Rally Monkey wrote:
Fisher, Warren, looks like it's all over but the shouting.
i don't know who we're fighting in Iraq either.
"World Bank Chief Economist Justin Yifu Lin staked out a strong position against forcing China to let its currency appreciate as a way to rebalance the world economy. “’Currency appreciation in China won’t help this imbalance and can deter the global recovery,’ he said in a lecture Monday at Hong Kong University.
“In an interview after the lecture, he said other countries shouldn’t intervene to keep their currencies cheap to boost their export sectors, calling it the ‘equivalent of protectionism.’”
This is the "chief economist" at the World Bank. What a pile of horse manure.
noob goldberg wrote:
ummm...wtf?
Basel Too wrote:
Volker already told us above: the evil-doers.
Why do you hate America?
yogi
didnt see blood type listed. are these people crazy, my bank doesnt even know some of the stuff the gov is asking for , just to weird.
have you explained that to your wife who deferred her desire to purchase a home in July, 2007?
noob goldberg wrote:
At least the Cannucks will stick up for us, even if we can't do it for ourselves
Translation: J6P isn't fully re-invested in equities yet. Ix-nay on the ash-cray until we can better position the retail investors to once again hold the bag.
Translation: J6P isn't fully re-invested in equities yet. Ix-nay on the ash-cray until we can better position the retail investors to once again hold the bag.
Make it look real enough, long enough, and the pension plans will go all in.
energyecon wrote:
Didn't you just call for an investigation from the Office of Professional Responsibility for your insinuation that Yalt was being too single-minded in his analysis? I believe there was even an apology involved.
Basel Too wrote:
My understanding is that fighting has ended there, but that we chased a bunch of people to Afganistan and are fighting them there.
I just saw they pumped AMZN to $130/share, Ken Fisher is out pimping stocks are cheap again...man, all we need is another Abby Cohen sighting and the top is clearly in lol
nova wrote:
correct!
gives rise to speculation for later events
nova wrote:
According to wikipedia, Churchill and Josephus Daniels, "a close friend and supporter of President Franklin Roosevelt."
Cinco-X wrote:
they're such pleasant, polite folk
noob goldberg wrote:
Ok. OK! This is on my to-do this too. Right behind the Fed constitutional thing Hu prints the money deal.
I can't keep up with all these requests!
noob,
The medicine is clearly impacting your reading comprehension for the worse...the apology was for conflating Yalt's comments with those of others. I echoed a previously made call for the Office of Professional Responsibility to investigate the over reaching US Attorney and Assistant US Attorney who issued the subpoena.
energyecon wrote:
Had we bought in July 2007 in this area we'd be slightly ahead in terms of paying down principle compared to renting, but our monthly obligation would have been a good 30% higher. Given the area where we live, our rental costs (with utilities) are around $1450/month, but if we had purchased this house in this area we'd be above $2K. That means $550/month in savings and a lot more flexibility to accept a different job, or deal with an unexpected financial crisis.
However, the big miss was when we unexpectedly stayed in one town for three years longer than anticipated. Because we were only planning on being there for 2 years, we didn't consider buying a condo, and simply rented for what amounted to 5 years. When we moved there, condos were about $80K; by the time we left three years ago, they were closer to $200K. That was a missed opportunity.
Assume Crash Positions wrote:
okay, Asst Sec Navy
sdtfs
or they want too
not looking for an opportunity, just a nice place to live that will allow my wife to fully engage her nesting drive lol
energyecon wrote:
I like my interpretation better. I think Tanta would have been proud if we went through the effort of creating an Office of Commentariat Responsibility.
energyecon wrote:
I love NyQuil-
noob goldberg
congratulations on the prudence
I could be wrong, but he appears to be doing some multi-orifice simultaneous audio transmitting.
volker
fdr and churchill?
Obama's nominee as US ambassador to the UN Human Rights Council:
[Eileen Chamberlain Donahoe] received her B.A. from Dartmouth College, a Masters in Theology from Harvard University, her J.D. from Stanford Law School, an M.A. in East Asian Studies from Stanford University, and her Ph.D. in Ethics from the University of California's Graduate Theological Union.
noob goldberg wrote:
I nominate noob, cause he be so polite
I thought the NyQuil sold in the USA had its active ingredient removed because it was being used in Meth Labs
SNAFU wrote:
MOSAT= talkin' our yer @$$ ?
The CNBC piece said "In order to move to a permanent mod, you have to prove it, so now we get to find out how many of those 'liar loans' were just that."
I assume that people who committed the biggest lies probably wouldn't choose to participate in the program. So the missing information, while interesting, wouldn't really tell us much about the proportion of stated-income loans that involved massive fabrication.
EvilHenryPaulson wrote:
I was referring to the alcohol content
energyecon wrote:
Hehe, we rented a nice detached bungalow with a big yard and a full basement. My wife seems to really enjoy the fact that someone else gets to deal with all of the structural expenses and we don't have to budget for a new roof, new windows, or plan how we're going to completely renovate the basement.
However, I recognize I'm living on borrowed time. I'm just enjoying it while it lasts.
Not Germans, necessarily, but officially citizens of the German Empire, with its capital in Berlin, Prussia its largest state. Who'd they fight for in WWI, by the way? You said there was no "Germany" in 1914. I pointed out that you're right, there was officially a "German Empire".
Maybe you could instruct the good folks of Hawaii that their great-granddaddies were, in fact, always Americans, since they are now.
Cinco-X wrote:
enhanced by three fingers of George Dickel
heh, we didn't need no steeenkin office - the steel toed
s did one helluva job 
energyecon wrote:
I'm hoping virtual reality will advance enough to absorb that force should I ever need it to. Although I guess I'll be lucky that the price of a big fat nestable house will be cheap by the time I have to cross that bridge. But you're not kidding, I've seen that nesting instinct in women whether single or married
energyecon wrote:
In Houston!? Not Houston, TX, right?
Houston, France
Public Policy isn't for sissies!
The risk we run, in public policy, is not inflation. It is lack of persistence, a premature reversal of direction, and of course the fear of large numbers. If deficits in the trillions and public debt in the tens of trillions scare you, this is not a line of work you should be in.
Causes of the Crisis | CommonDreams.org
James K. Galbraith teaches at UT-Austin and is the author of The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too.
It ain't Houston, AK lol
Houston, Alaska - Wikipedia, the free encyclopedia
volker the viking wrote:
My Aunt Marybelle was a member of the Church of Christ, and they frowned on drinking. However, she said it was perfectly acceptable for her to boil down poke root, and mix it with Bacardi 151 since it was medicine
yes; MOSAT for the sake of HARMONY ; In a related story, Chinese govt. executed six people this week charged with dissent and unrest.
EvilHenryPaulson wrote:
My wife is the prudent one. The only thing I might be applauded for is maybe recognizing a good idea when I see one. And even then, that presumes I had some sort of choice in the matter.
And on that happy note, enjoy your day, all. I'm outta here for the evening.
EvilHenryPaulson wrote:
Whew! Had me goin' there for a minute-
Bill miller used to be a billionaire stock investor as well. Just sayin.
You guys need to get your womenfolk under better control.
I didn't, and look at me now.
Ha Ha Ha,...just kidding honey, I'm really very very happy.
whew, close one.
Minnesota Judge Delivers Setback to Struggling Homeowners - Developments - WSJ
Borrowers don’t have a legal entitlement to loan modifications. That was the conclusion of a federal judge who this week dismissed a lawsuit filed by Minnesota homeowners seeking to block foreclosures.
The decision was a setback to struggling borrowers who have turned to the courts in an effort to get help under the Obama administration’s housing rescue plan. On Tuesday, the administration said that more than 650,000 borrowers had begun trial modifications under the program. But some borrowers complain that they are being denied aid by their mortgage company, even though they qualify for help under the program. So far, the results of those efforts have been mixed.
volker
i second
energyecon wrote:
It's bigger than the place I went to HS. I've live in several small towns that ended up getting "saluted" on Heehaw
I'm just trying to maintain an even keel for the universe
If people are congratulated on buying a new home, even if it is a bad choice for them, then I must do my part and give dues to those who exhibit conscious restraint
Basel Too wrote:
a decision based on a very narrow set of determiners no doubt
wouldn't call it a set back per se, yet
volker the viking wrote:
Damn those Minnesota Fascists!
EvilHenryPaulson wrote:
absent an organizing force, the universe defaults to chaos
Terry: Reuters.com
Hi, guys, world end today??
From the WSJ article.
Looks like the administration forgot to ramp up some kind of federal administrative beaurocracy task-force to collect all of the paperwork and review any and all denials, and require resubmission of any questionable paperwork or forms before the foreclosure could proceed.
Unfortunate oversight; that right there would have got you like, 10 or 15 jobs, easy. And those would be GOOD jobs, with benefits and stuff.
calling all gold stock hobbyists
a lot of mining companies have their HQs in Vancouver, and the local newsrag did a top 100 businesses list for BC, so they ended up highlighting some gold miners @ http://www.vancouversun.com/travel/companies+that+glitters+gold/2203528/story.html
thought you might like to know
lawyerliz wrote:
not in Louisiana
lawyerliz wrote:
Oh Liz. We wouldn't do that without inviting you.
No no volker, the universe as it exists today is the result of extended
chaos, acting upon itself. Default order. The least order that could be
expected.
What, me worry?
lawyerliz wrote:
Another day of delayed doom.
This close.
O H Chick -
I told him the buyers are all women who have divorced well. Big smile
I think there might be some truth to that.
Kauai_Kahuna wrote:
only if they stuck their ex with the house
Hahahahahahah.
Any legal savants out there.
What the heck is a nominee anyway??
And why isn't the MERS thing a dry or passive trust, executed by
the Statute of Uses?
lawyerliz (profile) wrote on Tue, 11/10/2009 - 5:02 pm
No no volker, the universe as it exists today is the result of extended chaos, acting upon itself.
Default order. The least order that could be expected.
What, me worry?
The least order that could be expected is indistinguishable from pure randomness. But strangely, probabalistic self-organizing phenomena happen just slightly above that state, yet they seem to give rise to high degrees of order. Luckily for us.
Okay, volker , lliz is here, throw the switch.
off topic
Anita Dunn Stepping Down As White House Communications Director
sdtfs wrote:
I'm not coming out from under the covers to do shit.
yes, the apocalypse is definitely upon us. not only is the blind gamer suing for violations of the ADA, but he's claiming financial loss because he can't participate in a virtual marketplace to sell virtual goods...
Visually impaired gamer sues Sony Online - News at GameSpot
The suit alleges that Sony is violating the Americans with Disabilities Act by failing to implement features to make its games accessible to visually impaired gamers....
Beyond the denial of entertainment, the suit also contends that Sony's actions have caused visually impaired gamers a financial loss. Because Sony runs an official auction site where gamers can sell their in-game items for real money, the suit says Stern's inability to participate in that marketplace is costing him money.
Couple Sues AARP Over Health Plan Marketing - The BLT: The Blog of Legal Times
Basel Too wrote:
Yeah, this is pretty weird. I guess it keeps the lawyers off the streets.
Throw the switch??
I read parts of a title company jacket for a mtgee policy, just to see if there was
any relevance to securitizations. . .and clearly that jacket was written in another universe.
Assignees are nomally covered for defects, but in the sliced and diced world we
live in, I wonder. . .
I will note that it doewn't require payment if the insured created suffered or assumed
the defect made claim on.
LOL........"a lot of that paperwork has to do with those so-called "stated-income" loans"...........like "do you by chance have a "real" job"? They're not saying SQUAT, because they don't HAVE squat. Squat jobs and squat mods. The whole caboose is about to fly off the tracks...."
Treasury says 650,000 in trial home loan workouts"......yes, as in we've sent the boisterous occupants who've been setting bonfires inside the livingroom a letter saying to contact us....
....Even I could make up a better bunch of crap then THAT!
I think my one successful mod so far may actually make it to the 5 year
mark when the 2% rate starts to go up. 15 minutes of future fame.
As proof of income he and the wife had to show some pay stubbs.
That was it.
lawyerliz wrote:
It was volker's turn to be in charge of the "end of the world" switch, and now we've got to suffer through another week because he's too lazy to do it.
sdtfs wrote:
Maybe Sheila will throw it for him one Friday!?
Wouldn't it be interesting if those seeking loan mods based on provable income were prosecuted for their loan fraud in the original documents?
Hahahahahahahahahahahahahah
sdtfs wrote:
Ohhhh that's why you guys never leave me alone in the clubhouse.
There aren't enuf lawyers in the whole world, if they
all turned into prosecutors, nor jails, nor anything else.
But you knew that.
Nanoo-Nanoo wrote:
Neil kash and Kari- one can't make up this sort of thin
Oh, Bill (welcome), you are so naive---they wouldn't hesitate to
apply. I have no idea whether any of my clients lied, tho there are
some who insist the lenders lied for them.
No way to tell; both were done.
lawyerliz wrote:
'Are there no prisons?"
'Plenty of prisons,' said the gentleman, laying down the pen again.
'And the Union workhouses.' demanded Scrooge. 'Are they still in operation?'
'Both very busy, sir.'
'Oh. I was afraid, from what you said at first, that something had occurred to stop them in their useful course,' said Scrooge. 'I'm very glad to hear it.'
'Under the impression that they scarcely furnish Christian cheer of mind or body to the multitude,' returned the gentleman, 'a few of us are endeavouring to raise a fund to buy the Poor some meat and drink, and means of warmth. We choose this time, because it is a time, of all others, when Want is keenly felt, and Abundance rejoices. What shall I put you down for?'
'Nothing!' Scrooge replied.
'You wish to be anonymous?'
Rob Dawg wrote:
Not that they would get anything......not that they'd want to go after a BIG fish,.......I have a feeling there will be a bunch of busy attorneys around for a LONG time raising Hell with everything that crawls out of the sea with anything more than a quarter in his pocket. Good luck to the "mouth-breather" who attempts to stand upright without the proper humility towards some hungry young attorney with a GIANT student loan to pay off.
Question from previous thread. When the GSE's sell MBSs to third parties are they insuring those mortgages? I understand that China is holding mucho agency debt -- how are they insured?
GMAC needs another cash infusion, Fed says
http://www.autonews.com/article/20091110/ANA05/911109993/1142
GMAC Financial Services, which has received $12.5 billion in federal aid, is negotiating for a fresh infusion of taxpayer funds because it has not raised enough capital to survive a deepening recession, the Federal Reserve said.
lol on this comment from below article
"Hey, GMAC is owned by Cerberus a private equity group worth untold billions. They also own most of the gun and ammo manufacturers. They have made billions off of gun and ammo sales since Obama's election. Let them dig in their own pockets. They stand to make billions off of the tax payers if we keep bailing them out."
this bailout of private companies who gambled and lost is another reason everyone needs to go to a fed building on Sat. 22nd....
I thought the recession was over?
Not evil you see, just a guy who thought that everyone should pay his own way, without a handout, and that the system was fair.
documents? What are those? Some kind of old fashion paper thing? The dumpster fillers?
creditcriminalslovetarp wrote:
Depend. 3 out of 5 economists, when surveyed, expressed guarded optimism that the recession would be significantly over to warrant further review.
sdtfs wrote:
No documents, no piece. [The lawyers battle cry.]
.....quite a few new faces here.......but then I might have Mad Cow Disease........
Sdtfs, I think all those carefully copied docs did end up in dumpsters. the
lenders foreclosing claim that they can't even find the original notes, or mtges,
so where the heck are the inches of crap that they made my clients sign over the
years?
Often I would use up a whole ream of paper making copies for everybody.
And goddess forbid if I didn't send one back. . . .
I would say the average file; one copy of everything, was 3/4th inch thick.
Black Star Ranch wrote:
Jeez, don't scare 'em away. I suspect they are visiting from the periodic table of the bloggers post.
Talking to myself?
I particularly like the page testifying I'm the same person I was the day before.
I need help thinking today...
Low Interest Rates: The Next Economic Bubble | Newsweek Newsweek - Robert J. Samuelson | Newsweek.com
What would happen if the fed rapidly raised rates... would'nt that force debt holder's to flee looking for a more productive "trade".
Is the reason this won't work is that there is acutally not enough debt to that would become free to actualy stimulate the economy?
lawyerliz wrote:
YouTube - Goldwater: Missed it by That Much!
Black Star Ranch wrote:
you didn't piss off Milk shake?!
Rob Dawg wrote:
I hope they have gotten inoculated against a healthy dose of
.
BREAKING news ticker..
Toll Q4 homebuilding revs $860 mln vs $1.08 bln
Adobe job cuts amount to 9% of workforce
Adobe cutting 680 jobs to 'align costs'
ok..small bumps in the road and right now I'm smoking some hopium..
YouTube - Ray Stevens - Everything Is Beautiful
I'll be talking to dealers tomorrow on the road so Happy Veterans Day to all the Vets...Thanks for protecting us yesterday and today..
As opposed to the page which says I'm not the person who got all those
baaaad judgments. Some other Jose A. Rodriguez did that. . .
When I first went to work, I said geeze, you guys rely on that, and they
said yes, and you know the few times it was the same person, they
admitted it was them, thus, stopping the closing.
Happy
ing
Liz: ask the male lump in the other room how fast the universe is expanding
Did Christianity Cause the Crash? - The Atlantic
(December 2009)
Japan Uneasy About Interest-Rate Rises - WSJ.com
"Did Christianity Cause the Crash? - The Atlantic
(December 2009)"
This seems to describe some sort of illegitimate bastard Calvinism.
pavel.chichikov wrote:
Is that like a Buick?
"I particularly like the page testifying I'm the same person I was the day before."
Not quite.
You know, I never cared about news stories concerning interest rates or boring stuff like bonds until I started reading so many financial blogs this year.
California forced to boost yield on bond sale to lure buyers | Money & Company | Los Angeles Times
More like the preacher's son. Those guys truly know how to raise hell.
Oxtail wrote:
You can still save yourself. But time is running out.
"Is that like a Buick?"
It's like a belief that worldly success is a sign of election - that is, God's intention to grant salvation.
It's hard for me to believe that there are enough people who believe in it to have caused the crash.
Caijing, the Chinese economic newspaper/magazine, has been officially shut down
. I noticed a sudden lack of good content a while ago but thought maybe they were just censored around the 60th anniversary of the communist party.
11 years in business, shut down now, screw China, I liked Caijing's reporting, enjoy the karma
pavel.chichikov wrote:
stranger things have happened
EvilHenryPaulson wrote:
the more things change...
The International Energy Agency (IEA) released the World Energy Outlook 2009 today - here are some links:
the release announcement and all links
http://www.iea.org/index_info.asp?id=854
the executive summary(12 pg pdf)
http://www.iea.org/textbase/npsum/weo2009sum.pdf
fact sheet (6 pg pdf)
http://www.worldenergyoutlook.org/docs/weo2009/fact_sheets_WEO_2009.pdf
"stranger things have happened"
But not every strange think does happen. Unless that guy from GS is one of them.
pavel.chichikov wrote:
I agree, as a declared belief. However, I think there are many people that think God is a capitalist and loves Merica best because he IS a capitalist. This unoffical belief is why there such a strong link between Fundamentalism and patriotism (the fish & flag bumper sticker thing).
Edit: and why Fundamentalism doesn't get pissed off at greed nearly as much as fornicating-harlots, for example.
Seven Democratic leaders make conciliatory statements; pledge cooperation with administration in promoting business revival; promise to abstain from “rash policies” and say business “should not be frightened”; ... praise Fed. Reserve Board.
And to think it was almost 80 years ago, seems like yesterday. Or even today.
Gee, I am coming up with a blank.
energyecon wrote:
A glut of gas is looming
The unexpected boom in North American unconventional gas production, together with the current recession’s depressive impact on demand, is expected to contribute to an acute glut of gas supply in the next few years. ... The looming gas glut could have far-reaching consequences for the structure of gas markets and for the way gas is priced in Europe and Asia-Pacific.
Wow, it's almost like they read CR.
NOTaREALmerican wrote:
those people are TV evangelists
I suggest everyone read the entire documents, with particular attention to the investments required vs. those that are actually occurring with respect to oil production...just sayin'
volker the viking wrote:
The primary western mountain religion, which has no TV evangelists (to my knowledge), has some behaviors like this also.
"However, I think there are many people that think God is a capitalist and loves Merica best because he IS a capitalist."
Not all the strange quasi-Calvinists in the world could have caused the crash. These days crashes are most likely caused by people who worship money to the exclusion of God. But perhaps, in a way, the crash was caused, if not by all of us, then by most of us.
NOTaREALmerican wrote:
give this some thought and you'll see that satellites and cable pipe in the propaganda at light speed
energyecon wrote:
Gee, oil goes into the 30s and all of a sudden people are reticent to invest billions in recovering $60 oil? Hoocoodnode?
That's just the prelude setting the stage, the first act is what comes later...
energyecon wrote:
What comes later? It sounds like the document is expecting huge increases in energy usage (out to 2030, anyway). Do you mean the drop in investment now causes a spike later?
(Damn it Jim, I'm a computer programmer not a capitalist !)
Given the huge amount of money certain people poured into corn Ethanol; we are going to see more pressure to raise the max amount of Ethanol used in gasoline. I've already heard rumors of reports that up to 20% causes no problems with most recent cars. In addition, CNG is going to become more available as the excess in natural gas causes producers to throw good money after bad. And DME is coming out of left field as well. Our demand for energy is likely to rise. Our demand for petroleum rising is less certain.
Rajesh wrote:
I'd be surprised if that were the case. Incentives front loaded the investments and did not prove out. I hear a pronounced 'sizzle' emanating from this. Besides, there is not enough water.
Rajesh wrote:
False rumor. The problem is energy density. Modern compression ratios are not able to generate useable power curves using 20% ethanol.
EvilHenryPaulson wrote:
EHP - thanks - went through all 1,136 pages today - I beg to differ - it creates the equivalent of the Homeland Security Department for financial services oversight. It will take a decade to be implemented, plus the repubs, the House, and the administration do not agree with his approach
EDIT: add the state banking and insurance regulators to the list not endorsing his approach.
seriously, the CPC is a joke
they won't publish the list of books banned as imports to mainland china, only one of the reasons why no one in China reads. with counterfeit western content, it's a tv culture if there ever was one
workplace safety is just as bad as Dubai where they import slaves
the big goal for Sichuan is to cut smoking inside hospitals by 2012
40,000 people whose homes were flooded by the 3 gorges dam have neither received compensation nor are they counted as unemployed because they are now considered migrant workers
but the 41m x 83m x 32m granite bust of Mao Zedong is on schedule
Rob Dawg,
I know you don't buy the peak oil bit, but I can't get comfortable with the lack of new discoveries. Especially, big and easy finds.
For me, the question is if demand falls faster than supply. I think we've hit peak private debt for years to come. D'oh!
So the other day at lunch i'm eating with my 2 coworkers. One mentions our other coworker and his wife are buying a house that is 4000 square feet. And i'm like, yeah that seems liek a giant house. So the coworker buying is a director at my job probably makes a bit over 100k , lets say 120k. his wife is a young lawyer .. they are 29 so lets pretend they make $200k combined. this isin the east bay in norcal.
Anyhow the house costs $940k in Alameda (and i happen to live there). So my coworker goes, well it was $980k the last time someone bought it in 2007. So I being party pooper extraordinaire at work, say that is ridiculous they should just wait, there are houses all ove rthe place foreclosing and they will be in debt forever and are getting raped.
So this is what gets me. My coworker goes, well its ok , i mean they like the house and its all good asl ong as they are happy (coworker saying this also wants to buy a house with his wife as well).
So I go... not that is just plain stupid. I kind of want a bugatti veyron. It would make me happy too and it costs a million dollars and all of you would call me an idiot if I could get a loan to buy one and bought one. Then I paused and thought for a moment. In fact a bugatti veyron being a limited edition and rare car would be a much much better house than a $940k house that is only down $40k from its 2007 peak.
YOu guys are with me right? given a million dollars you get the veyron every time? haha. I do not get the whole "but its a home, so its different". Its a pile of bricks. there are lots of them everywhere. they all have rooms and wires and pipes. for the most part you can make any o fthem your home. Why this one for $940k?
Oh well, my coworkers are fools.
Rob Dawg wrote:
How far is it off? Re-milling heads or whole new engine?
Terry wrote:
Not to mention the Tenth Amendment.
Merkel Says Worst Still Ahead in Germany - NY Times
Wow, that's a pretty striking change of tone. What a difference not having to campaign for an election makes.
Terry
I doubted you would share Salmon's overall opinion, but it was probably one of the first informed responses on it. While I'm not sympathetic to the financial industry fearing regulation, I think the bill is a clumsy hodgepodge
housing is an investment....
hans wrote:
nope, you're on your own
minus the strength of your convictions, all else rings hollow
besides, you don't 'need' us
JP wrote:
T'were it that simple. Think of 20% ethanol as sub 80 octane. All the numbers get badder worser sooner at that level.
hans wrote:
I agree, but there is something about a house. Plus, NOBODY really believes that housing won't still increase in price. They're not makin' any more land ya know. It will take at least a generation for this to go away. I'm not sure I don't believe myself.
Rob Dawg wrote:
besides, your tail pipe smells like french fries
I have a few friends and coworkers who trade jokes with me about how this whole rally is a house of cards and is destined to crash and take down the economy. And yet they still tell me that real estate is like the best investment ever and how it's a good time to buy right now because prices came down. It's going to take a long time for people to get over the homeowner propaganda they've been fed for the last few decades.
Hey all, I've created a new feature on the site called Donation Tiles. Here's more info.
volker the viking wrote:
Oh no. That's biodiesel. Nothing wrong with biodiesel. We can meet perhaps 5%-8% of our needs with biodiesel. That's not a criticism but a compliment.
Oxtail wrote:
capitulation requires a severe beating administered more than once and generally speaking, over an extended period of time
get a beanie baby, put it on your desk
when asked why you have it, respond by telling them that beanie babies only go up in price
when they tell you no, tell them you don't believe it, talk about in the long run
when they come back to you with some data, hand them similar data on local housing prepared in advance
then shake their hand while saying "Socrates! Socrates...", then mysteriously go for an early lunch allowing your co-workers to freely wallow in the wisdom you imparted
Rob Dawg wrote:
I don't believe that most engines will handle that level of ethanol. The primary problem is that ethanol can break down many of the rubber/plastic seals that were designed for pure gasoline. As well it gives you worse gas mileage because of the lower energy content and results in more expensive car operating costs. But I do believe there are people who will play loose with the facts in order to improve the returns on investments in ethanol plants and, of course, enlist the farm lobby as an ally.
Rob Dawg wrote:
no self respecting swamp denizen could discern the difference
Ken,
Very nice. Bob Dobbs wife does some great minature colored pencil art.
well i meant veyron as investment.
my really shallow justification was that the ferrari enzo at msrp was 650k and regularly goes for a million now. that and it was sort of a joke. but nonetheless i'd bet on a veyron at msrp over a house in ultra jumbo loan territory.
JP wrote:
Not really an option with today's cars. You need to optimize the "brain" as well. it's all one big system; no more shade tree mechanics.
You want to see stupid folks check this Shit out!!
Man tries to sell $1100 one ounce gold coin for $50; no takers.
YouTube - Man tries to sell $1100 one ounce gold coin for $50; no takers.
This proves to me how FU**en STUPID Americans really are.
nova wrote:
You guys know each other!!!?
And you meet and interact and everything without exchanging gunfire?