Hey, did anyone else notice the stock market this afternoon? Looks like it went down a little bit.

Number of guests online is inversely proportional to stock market movement!

I just got the best deal on a new house! They only want one $1 million for it. Problem is, they're asking for $100 down.

Asun wrote:

I'd second Rich's sentiment. Please 1 more plunge and I'd quit shorting. Puts however... hmm.. are a different story.

I half quit shorting at the end of the day. I chickened out and sold my EEV at 11.77. But I held onto the rest of my shorts (okay I lied, I didn't dump half of them, maybe a fifth).

Where the hell is Dawg these days? Are he an NaRm hiding in a bunker somewhere?

You don't have to be a conspiracy theorist to see the last few days as a direct message to Obama from

And the squid feels threatened, too:

Goldman Had Bomb Sniffing Dogs At 85 Broad Yesterday

Is the market chart messed up for anybody else? I reloaded CR's site and it is still screwed up.... yes, I know this comment invites all kinds of sarcasm about the markets being messed up.

scone wrote:

I wouldn't get too excited. Over the weekend there will be a lot of phone calls, dinners, ad hoc meetings, and "strategy sessions." The forces of darkness are not done sucking this bubble dry, and now they're pissed off.

Dinners? MMmmmmm... I love !!!

scone-

honestly I'm surprised it has taken this long for cracks to appear at that......ahem...location.

noob-

I only got 40% of yesterday and it pissed me off....but that's life. Got almost all of weds. though.

Ciao
MS

MS wrote:

I only got 40% of yesterday and it pissed me off....but that's life. Got almost all of weds. though.

One of elements of this job is that I'm often in day-long meetings where I can't easily check the markets. So sometimes I come out of those meetings richer, and sometimes poorer, but at least it cuts down on brokerage fees. It was dumb luck I was in a meeting without access to my account for the entire day yesterday, or I would have dumped everything by lunchtime.

Let the Plunge begin !

Come to me baby !!!!!!

dryfly wrote:

Dinners? MMmmmmm...

I don't understand that roastbeef thing, I thought it was a hat, or a pile of shit.

or an LP with a ham hock on it.

Mr Slippery wrote:

Seems like the are out to punish Obama through the equities markets.

Nah - they're just selling a few positions so as to free up cash to be able to pay for those ONEROUS bank fees Big O is suggesting. Nothing more. Move along.

I certainly made schwab happy yesterday....today not so much...only three roundtrips.

Ciao
MS

"I don't understand that roastbeef thing, I thought it was a hat, or a pile of shit. "

Think of it as a hat to cover your head when the pile of shit drops on you from the vaunted new age trickle-down economy

HomeGnome wrote:

or an LP with a ham hock on it.

That was precisely my reaction when I first saw that icon. I still don't know the context behind that meme.

I can't decide if I should buy more puts before the State of the Union address or close out the ones I have now. What tune will big O be singing next week?

JP wrote:

Regarding Real House prices: Prices ex-foreclosures need to drop 33% in order to get to 1982 real values?! Holy moly.

On the positive side, the CoreLogic's Price:Rent is only 20% above it's base values

MS wrote:

scone- honestly I'm surprised it has taken this long for cracks to appear at that......ahem...location.

The thing about the squid, it makes bubbles, and shorts the crash in it's own time. The events in the last couple of days have messed up that schedule, and it will fight back with everything it has. And since it can easily imagine violence against itself (see bomb dogs upthread), it's not hard to imagine it engaging in revenge behavior.

Bernanke deserves not to get confirmed. He lives in a vacuum of his own narrow ideas. Unlike Obama, Bernanke still arrogantly gives no consideration to policies other than his own.

He couldn't fathom how much economic drag and political blow-back would be created by robbing yield from savers and depositors and handing it over to big banks, over months and even years. It wasn't in his models.

You can't impoverish or PO old people who put their money into CDs and money markets. They don't have much economic flexibility and they vote.

HomeGnome wrote:

There is still time to cast your vote in the BFF Poll.

Gotta wonder if they'll have a talk with Shiela and tone down any plans for tonight. Of course, I really can't see pulling the plug on anything this late in the game; the agents are probably already in place on the East Coast, and the pizza's probably already on order.

scone wrote:

The forces of darkness are not done sucking this bubble dry,

I don't know about that- they got the really good year end mark on everything (but Treasuries) that they were looking for. Seems like the pact amongst thieves held- everybody avoided selling and they all came out ahead. Now it seems like they are falling out- some figure they can make money by getting short early. One year is a long time to trust other people to stay with the program.

rich wrote:

You can't impoverish or PO old people who put their money into CDs and money markets. They don't have much economic flexibility and they vote.

Pensions and fixed income chasing the yield that has been decimated by the Fed's easy money policies, HAD to be a key contributor to the bubble.

I guess I won't be posting any more e-mails I get from Obama or Joe Biden. The other day, I unsubscribed. When they asked why in a little box, I said "because I hate you f*cks"

But I am going to send Obama a nice letter of support and encouragement, now that he's changed course.

noob goldberg wrote:

I still don't know the context behind that meme.

PK went to the WH for an 'informal discussion' w/ O last Spring - he came back noticeably 'mellower'... so folks started asking [via his blog comments] what was discussed - he replied - none of their business - so they asked "Well then how was the roast beef?" [which allegedly was served]. Its now an inside joke for being 'bought off'.

Blackhalo wrote:

Pensions and fixed income chasing the yield that has been decimated by the Fed's easy money policies, HAD to be a key contributor to the bubble.

dryfly wrote:

Its now an inside joke for being 'bought off'.

This explains so much. I can't believe I haven't asked the context of that joke for this long.

dryfly wrote:

Its now an inside joke for being 'bought off'.

I'd have held out for something better than fricking roast beef.

New York strip steak, at the very least.

Blackhalo wrote:

Pensions and fixed income chasing the yield that has been decimated by the Fed's easy money policies, HAD to be a key contributor to the bubble.

A lot of that money was herded into bubble bonds (MBS), because it had no where else to go after 2000.

JP wrote:

in order to get to 1982 real values?! Holy moly.

what were interest rates back then? I think you have to look at home prices in the context of interest rates. My guess is that early 80's prices were probably below where they should have just as prices now are higher than they should be. I think CR is right we are probably close to the bottom in aggregate- but that still allows for some significant price reduction on McMansions.

MS wrote:

Having said that I found it completely disgusting that "the hair" was actually in discussion for a loan on her "occupied" home while bailing out those *hits.

I would have been shocked had it been otherwise...

Supporters say "Bernanke saved the financial system" (or helped).

No he didn't. He was part of team that did that.

Others say: "He's the right guy for the job because we 1) shouldn't change horses b/c we're not out of the water yet, and 2) he's an expert on the great Depression.

His expertise SHOULD have caused him to take action much earlier. He didn't.

How can anyone justify having people in top policy positions that were associated the greatest financial and economic failure since the great depression. THINK about it. People have short memories, but less than 18 months ago Paulson came to us and said : I need 700 billion dollars or the world financial system will collapse.

The market reaction is perverse. It should be welcoming a return to accountability. Obama's new regulatory initatives seem pretty mild.

I can only think that we taking out what one might call the "sheeple premium" -- political and regulatory meekness that lets companies gouge and f*ck with consumers. (That's a good thing!)

Cinco-X wrote:

I wonder how w weekend attack would affect the markets on Monday

the attack(s) may be coming at Ben

crazyv wrote:

I don't know about that- they got the really good year end mark on everything (but Treasuries) that they were looking for.

Here's a GS economist long on US, because China is too bubbly:

Goldman: World Markets Teetering At Post Crisis Highs, All Betting On China

MS wrote:

if they don't start soon (actually failing banks with a loss rate of 25% or more) the market may start to do it for them

How would the market accomplish that?

but, but....RICH...this isn't just about Bernanke and Obama. We're gonna get squeezed until we drop, then what? Local, state and federal level bureaucracies think that taxing the middle class is the way to improve the situation, the traditional easy way out. and POO DARN...old folks don't have money, myth meet reality. Problem is NEWS FLASH, the middle class is tapped out, much smaller, out of work and scared out of their collective wits. Servicers, merchants, market players and providers think raising prices will offset other losses. A little here, a little there and the old woman in the shoe can't feed her kids that came back to the nest after college with no job prospects. If that is done here and there, and there and here, the newly frugal will just cut back more in a shocker of shockers to those who think this way.

Gas prices down 7 straight days; crude falls again - Yahoo! News

NEW YORK – Gasoline prices have declined every day for a week following a similar slide in crude prices this month.

But with the national average at nearly $2.73 a gallon on Friday, pump prices are still more expensive than any day last year. They've ridden a 10-month rally in energy commodities that doubled oil prices to nearly $80 a barrel by the end of last year.

Experts say they still expect gas prices to reach $3 a gallon sometime this spring, though it may take longer than originally expected.

Oil prices tumbled again Friday, as Wall Street dropped for a third consecutive session. Benchmark crude for March delivery lost $1.54 to settle at $74.54 a barrel on the New York Mercantile Exchange.

The slide in oil prices this month has pulled down gas prices, as weekly government reports showed the country hasn't regained its appetite for petroleum. The economy may be slowly recovering, but Americans aren't burning more fuel than they did last year.

josap wrote:

LOL, and Shiela would tell them what? GTH more than likely.

With her potential conflict of interest issues, she might be more likely to "play ball". It's interesting that this only recently came to light. I don't think we can read anything into that just yet-

noob goldberg wrote:

No more mark-to-myth, right?

Myth? Nonsense! We're holding them until they paint the number.

man. who forgot to poke the squid this week?

poic wrote:

Don't worry. Bernanke can do an emergency rate cut on Sunday night. Oh wait...

Maybe he needs to live for a spell in Wisconsin. Residents of colder climes know that it's a foolish idea to burn through all of your firewood by the first week of January.

Edit: The Volcker Rule leads a whole section of articles at Bloomberg:

Obama’s Bank Limits: Week in Review - Bloomberg.com

Kudos to the business leaders but unfortunate they are probably too few in number
41 industry leaders call on Congress to halt corporate ‘bribery’ | Raw Story

WASHINGTON -- Forty-one business leaders have co-signed letters sent to Democratic and Republican leaders in Congress voicing their opposition to Thursday's Supreme Court ruling that frees corporations to spend unlimited amounts on influencing elections.

"Is there a difference between campaign contributions and bribery?" said Alan Hassenfeld, chairman of Hasbro, Inc, who co-signed the letter.

"It is long past the time to stop requiring that our elected officials moonlight as telemarketers raising money for their re-election campaigns rather then devoting all their time to solving the problems before this nation," he said.

The letter read: "As business leaders, we believe the current political fundraising system is already broken. The Supreme Court decision further exacerbates this problem."

Comrade Misean is Dope wrote:

noob goldberg wrote:
No more mark-to-myth, right?
Myth? Nonsense! We're holding them until they paint the number.

This is not the first such time. The formal term is "regulatory forbearance", but Bernanke prefers to state it in terms of the whole world but him being wrong due to temporary illiquidity panics... as in he believes in his heart of hearts that if people responded as desired to his monetary policy everyone would see there was nothing wrong in the first place

Scone,

A Fiat 500 Abarth may be coming to America.

sm_landlord wrote:

rich wrote:
Now, Bernanke's got a target on his back. The old folks know he's their enemy, and they are silent no more.
Yup, all the old folks wanted was a nice bond ladder, like everyone tells then they should have, which generates enough for them them to pay their basic bills. Now that's gone and there's principal risk as well.

Why don't they just buy annuities guaranteed to return 10% per year from insurers ø_ø

Blackhalo wrote:

How would the market accomplish that?

Stop lending to them?

Are you saying "The Market" = "The Fed"?

km4 wrote:

"Is there a difference between campaign contributions and bribery?" said Alan Hassenfeld, chairman of Hasbro, Inc, who co-signed the letter.

Hasbro?!?!?! BWAHAHAHHAHAHAHAHAHHAHAHAHAAHHAHA! That's like Walmart championing Health Care reform to put the screws to Target...oh wait

poic wrote:

Don't worry. Bernanke can do an emergency rate cut on Sunday night. Oh wait...

Fast Forward: Monday 10:00 EST - Dow off 550pts.
Enter Stage Left: Ben Bernanke. (taps microphone) we are immediately beginning the purchase of $1 trillion in Treasuries. (chest bump with Geithner and exits stage left).

Nanoo- Nanoo

Part of the Governor's proposal to cut expenses is to cap the number of emergency room visits that folks on medicaid can make and reduce the dental benefit from $500 to $200. Do you agree with those choices or not. What about the cut back in support of mental health facilities, or limiting help to only those who are severely disabled.?

I actually think that by and large most of government spending is for worthy uses. There is a limited amount of fraud and certainly some waste but that is true of all large organizations not just government. My point is that people want to bitch about taxes but are not prepared to cite one worthy project that they are prepared to cut.

They throw parts from around the world in the blender and we get what ever name plate they want now days.

poic wrote:

I wonder how w weekend attack would affect the markets on Monday"

good to know since I am flying Sunday night

New Hempsters?
/cough/

IRS peers into executive compensation - Yahoo! News

lol..

My question is can the IRS go for multiple years back and get the mooola? Besides, its all nested safely away off-shore.

....

Next month, the IRS begins an effort to audit 6,000 companies with a focus on their employment policies, including fringe benefits and officers' compensation. The IRS has also taken an increasingly tough stance on deductions companies take for highly paid executives and how deferral of pay by such executives is treated.

"The IRS knows that there is considerable noncompliance with regards to employment taxes," said Anthony Arcidiacono, of Ernst & Young, who spent three decades at IRS as an agent.

....

The 6,000 exams, to be conducted over three years, will be deeper than typical audits and look at fringe benefits such as executive use of corporate jets, company cars and other reimbursements arrangements, Arcidiacono said.

"The examiners have been instructed to leave no stone unturned," he said on a recent call with clients.

The IRS has not taken a systematic focus on employment issues in decades, according to tax lawyers. The agency will examine a cross section of companies by size and industry.

......

Several tax lawyers said it is precisely the wrong time to be discouraging deferred compensation, when the Federal Reserve and others are encouraging the opposite.

The rules have "been interpreted in an extremely tight-fisted and unforgiving manner," said Richard Skillman, an attorney at Caplin and Drysdale who worked in the IRS chief counsel office from 1999 to 2002.

Still, the IRS can only enforce current law and needs further action from Congress to dig deeper.

"If you go underneath all of it, there is clearly a lot of negative feelings on Capitol Hill about highly paid executives," Skillman said. "But there is only so much they can do. They are really charged with not going beyond the law."

noob goldberg wrote:

which indicates that the banks are perfectly happy following rules that only suit them at that specific moment.

it is precisely why I believe that all these calls to regulate them make no sense. What we should be doing is deregulating them. The only reason we care about the risks that they take is that we insure their deposits. What we should be doing is making sure that the deposit money can only go into certain categories of assets essentially make the deposit side of the bank a giant SIV.

I'm going to throw more money at Bill Gross, because he called the "more government regulation of the markets" thing months ago.

Who really cares about this economy thing, we waste too many neurons in it
case in point, Vancouver Olympic Tours - Ziptrek Ecotours - Official Site
Free zip line rides (170 metres / 550 feet long), in the middle of downtown. Feb 12-28 10am-9pm
happiness is cheap

Mr Slippery wrote:

I don't watch CNBC often, but Maria is strikingly beautiful, especially on down days when she has that little pout going.

I'm more a Liz Claman man.

milk baby

Mr Slippery wrote:

I don't watch CNBC often, but Maria is strikingly beautiful, especially on down days when she has that little pout going.

I figured she'd be grinning ear to ear, as the SOTUS ruling should mean some big time money for the networks for 2010.

@Comrade Misean is Dope (homepage, profile) wrote (in reply to...) on Fri, 1/22/2010 - 2:52 pm
km4 wrote: "Is there a difference between campaign contributions and bribery?" said Alan Hassenfeld, chairman of Hasbro, Inc, who co-signed the letter.
Hasbro?!?!?! BWAHAHAHHAHAHAHAHAHHAHAHAHAAHHAHA! That's like Walmart championing Health Care reform to put the screws to Target...oh wait

What are you screaming about ? I guess you missed this part....

The effort was organized by a coalition of consumer advocacy groups, including Common Cause, U.S. PIRG, Brennan Center for Justice, Change Congress, Democracy Matters, Public Campaign and Public Citizen -- all of whom support public financing of elections.

The executives echoes the criticisms of Rep. Alan Grayson (D-FL), who blasted the ruling Thursday in an interview with Raw Story, saying without campaign finance reform, "you can kiss your country goodbye."

Grayson has already introduced six bills that seek to reverse the consequences of the ruling.

Bubblisimo Gerkinov wrote:

I'm more a Liz Claman man.

Wow.

Exactly crazyv, but some of the 'incentives' and breaks for things like solar panel installations, subsidized home energy audits with auditors recommending 25K+ of improvements the homeowner can little afford means setting priorities for immediate needs of those who are actually imperiled, further impoverished by cut backs. There is a lot of waste in good intentions of state and local governments which needs a hard look see. Some of the same conflicts of interests exist there as it does at the federal level. I also question some of the educational expenses and how those are paid for but I'm just a lowly taxpayer on a fixed income...I've learned that no matter how loud I yell or to who, it makes zero difference. I really question the salary of the UVM president while Vermonters cannot afford tuition instate and professors are being cut.

ಠ_ಠ

So just how important are housing prices anyway, given that the Administration will soon be offering a hand-out for every conceivable kind and size of default? So long as the buyer can shoehorn his way into closing the purchase, the home shall remain his regardless of the circumstances. (Thank goodness that I am earning huge sums of money, and can therefore donate even more tax revenue to the cause.)

ot- market humor-Conan calls the top by bringing back the bear...

Hulu - The Tonight Show with Conan O'Brien: Masturbating Bear Returns

but, but....RICH...this isn't just about Bernanke and Obama.

Economic forces that make almost all people poorer (like higher unemployment and taxes) are one thing.

Flat-out manipulation that makes tens of millions of old people poorer while making a couple of dozen big banks richer is a different bucket of fish.

To manipulate for a few months is one thing. To carry it out ad infinitum is another. Why would you want to make old people living on fixed savings so poor that they have to return to the workforce and take scarce jobs away from young people?

The Feds' job isn't to squash interest rates for years. It's to gradually cushion trends in rates as they find own natural levels. This is what Bernanke doesn't get.

January 20, 2010: Indecision 2010 - The Re-Changening

That JStewart bit was hilarious-

yes but think about what the deduction would look like at 7% mortgage rates

volker the viking wrote:

you could put out someone's eye with those things

Both mine pooped out-

rich wrote:

The Feds' job isn't to squash interest rates for years. It's to gradually cushion trends in rates as they find own natural levels. This is what Bernanke doesn't get.

Excellent point, rich. +1

We all may not all agree that the Fed should be cushioning rates or--if they do--that the intervention will be effective, but I think most everyone would agree that pinning down rates for extended periods is well outside of the Fed's mandate.

Blackhalo wrote:

I'm thinking bond

That makes more sense, but as long as the Fed's discount window is open at 0%, is it really an issue?

exactly rich. Nicely said.

Let be sure to include (and why I posted about oil/gas) the manipulation occurs in lots of market sectors by you know who and for what reasons, it adds a double whammy to the fixed income group.

Health care costs have been nothing but stellar, double digit-yoy that challenges not only fixed income older folks but everyone, including people attempting to do that horrific act of having a family.

Remember though, its all our fault. We're fat, lazy and stupid, its all our fault and if we only would eat right, exercise, stop smoking and drinking... everything would be all better. As for that epidemic in asthma among those not exposed to second hand smoke or smokers...well you know, stuff happens.

Badger boy wrote:

is like marbled fat in meat. Can't get rid of it without chopping away some meat.

Besides, it doesn't taste as good after that-

Bubblisimo Gerkinov wrote:

Apparently Liz understands assets.

Ratings too-

Nanoo-Nanoo wrote:

My question is can the IRS go for multiple years back and get the mooola? Besides, its all nested safely away off-shore.

I do attend church from time to time, and one of my favorite sermons was on the nature of evil, delivered by one of the associate (non-paid part-time) clergy at the church. "In my job, I look evil in the face every day," he said. " I see a roiling sea of evil in all directions." And we all laughed. Because his paying job was corporate tax auditor for the IRS.

I'm confused ... CNBC talking head called for more .

Is it time to buy SPY?

crazyv wrote:

My guess their exit will have to be both buying on weakness and selling on strength - but on balance selling.

Well that would be rational. So I hold out little hope.

, same place, same time on Monday.

Blackhalo wrote:

as long as the Fed's discount window is open at 0%, is it really an issue?

Hu, knows...

Does Hu have anything to do with it?

Gosh, what's the media gonna do when the dow drops below 10k again?

YouTube - Jethro Tull: Locomotive Breath (02/10/1977)

nice sm landlord...

sm_landlord wrote:

This discussion inspired me to mangle some lyrics:

Toyota is the new GM.

And on the subject of cars, by the time you can get that Fiat 500 Abarth (mentioned above) in the US, at least 3 other cars will make it pointless:

1) Ford Fiesta with an "Ecoboost" (twin turbo and direct injection) engine and a DSG transmission.
2) The new Suzuki Swift will be on sale and will certainly have a performance version
3a) The Honda CR-Z doesn't suck
3b) The Honda CR-Z sucks and Honda is forced to put out a real performance version of the Fit

All 3 will be cheaper to buy and cheaper to own than the Fiat, with the added bonus of being a lot more fun to drive.

Breaking News and Opinion on The Huffington Post 

SENATE LEADER REID UNDECIDED ON BERNANKE

Timothy F. Geithner, the Treasury secretary, and Lawrence H. Summers, the president’s chief economic adviser, developed the proposals at the request of the president and worked closely with Mr. Volcker, according to White House officials. The plan was completed over the holidays and submitted to the president with a unanimous recommendation from the economic team.

- NY Times

If this is true, they had it in their back pocket and took it out to counter the Massacre alright, but they would have come out with it anyway. If Timmy did work with Volcker, then the staging of the speech, with Tall Paul right behind the President, was a very cagey bit of political theater. This is why Kremlinology was so fascinating.

scone wrote:

If Timmy did work with Volcker, then the staging of the speech, with Tall Paul right behind the President, was a very cagey bit of political theater

Barney Frank in his interview on CNBC yesterday said it was tall Paul who told him what was going to happen. Cramer was surprised Timmy was not in the loop.

lawyerliz wrote:

This is the Glass-Steagal junior thing?

The "Volker" rule: give credit where credit is over-due.

In light of Harry Reid's announcement, some poll suggestions:

Monday Circuit Breaker?

Futures lows pre market Monday

Will CNBC call in the talent over the weekend?

9AM Monday S&P

Intraday S & P Monday Low

S & P Monday Close

creditcriminalslovetarp wrote:

5:45pCalif. must raise $2.7 bln cash, says controller

Page, Brin to sell combined 10 mln Google shares

So Page and Brin are bailing out CA?

hey, sasha cohen is being profiled on NPR right now. (CR is a friend or fan)

Oxtail wrote:

I've stopped watching Asia markets at night, but definitely going to tune in Sunday night to see how freaked out they are by all this.

They have been freaked out for several days now.

Liz, are you going to the superbowl?

No one will compute this, or really quantify it, because it speaks a bit too much to the insecurities of this region, but I'm sure this storm has done at least a hundred million bucks in damage to crap-built, deferred maint and/or vacant houses in the southwestern quarter of the country.

crap, I just emailed the undecideds and the some of the pro-reappointment folks in cluding Reid and Obama. I guess I;ll have to call his staff and let them feel the rough edge my tongue

creditcriminalslovetarp wrote:

Senate leader Reid says will vote for Bernanke

Looks like he is taking the money over votes in 2010. Since it looks unlikely that he will be returning. is his only hope.

More Kremlinology. This guy says Timmy distanced himself at the Volcker Rule speech because it is doomed to fail, and Volcker can be the sacrificial lamb in the event:

Whither Government Finance Heads Geithner And Bernanke? - The Atlantic Business Channel

black dog wrote:

St Louis fed's latest observation
M1, M2, MZM all dropped (M1 by $50 billion). M1 multiplier holding steady at .852
St. Louis Fed: Categories - Top 3 Levels

thanks for bringing this up

Who me??? Nah. I'll be 220 miles away, in Merritt Island.

Insurance claims available?

Hey, this was my hurricane scenario.

Cheater, cheater, Kali got there first.

I dunno: The Volcker Plan is a political maneuver to distract the public from the health care debacle.

Several parts of that article don't pass the sniff test for me...

Hi folks! Been kind of busy this last week getting some new functionality ready for the site, so I haven't checked in much. It's not quite ready yet, but I think you'll like it when it's fully baked.

In the meantime, by request:

Hey ken: Do you maintain a list of spam links that get squashed?

Cinco-X wrote:
Is there something wrong with Ben's printing press?
Nope! We're printing money right and left, 24-7, and as you know, we gave away trillions... buy everything you can now, prices are only going to go up from here!

If you believe the Fed can fight deflation, press '1'. If you believe they will be forced to follow the market, press '2'. If you would like to speak to technical support, press '0'.

First bank Down - Premier American in Miami

As of September 30, 2009, Premier American Bank had approximately $350.9 million in total assets and $326.3 million in total deposits. Premier American Bank, N.A. did not pay the FDIC a premium for the deposits of Premier American Bank. In addition to assuming all of the deposits of the failed bank, Premier American Bank, N.A. agreed to purchase essentially all of the assets.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $85 million.

lawyerliz wrote:

Insurance claims available?

All the insurance policies I have seen won't cover a property that has been vacant more than 30 days.

picosec wrote:
No one noticed Premier American Bank, $85M (Miami, FL)
An ant farted. Did anyone notice? (more importantly, can ants flatuate?)

Hmmm, you apparently dont need it. Looks like you already got the one I had in mind. Comment by my_tradespa from thread 'Banks Paying Prop'

Kudos again.

Hurrah!!

Grim_Poppet wrote:

You want the 500-Based Abarth 695 Tributo Ferrari edition. That sounds like a fun car!

Love that car. That is a real pocket rocket with flair! Thanks for the link.

That's where the vacancy becomes an issue, Liz.