Recent comments by MattFea

PastTense wrote:

So who can truly afford them?

Fixed It For Ya

Back to the banks/brief OT...

(From Larry Martin, Bank Strategies, Denver)

Jim Swanson and I had the opportunity to meet this week with the head of a regulatory agency in one of the nine states Bank Strategies LLC covers. During the discussion, the subject of the CFPB (Consumer Financial Protection Bureau) came up. We thought we would share a snippet of the regulators perspective as well as other observations from ourselves as well as clients.

  1. The regulator and Bank Strategies LLC both agree that the results of election this past Tuesday will further embolden the CFPB further. They have four more years of encouragement from the White House to rein in the evil financial services sector. Concerns about having the CFPB shut down or handicapped by frozen budgets etc., have largely disappeared.
  2. We base our second comment on CFPB's track record thus far, input from bankers, and Bank Strategies LLC's vision. The terms "abusive practices" and "disparate impact" in the statements of the CFPB makes anything a financial institution does in the way of fees up for question. As a result, it is likely in the next few years the CFPB will rule that the maximum amount a low-income person should have to pay for an OD or NSF is $10 (you pick the number). Because of the inability to accurately determine who is low income or a minority, all NSF/OD fees will likely fall to the mandated low income/minority level.
  3. The only hope out there may be that the big banks that are getting assessed multi-million dollar fines by the CFPB will decide it the PR issues are worth a public fight with the CFPB and begin to push back. It doesn't take many multi-million dollar fines to get the board and shareholder attention and to direct management to fight back instead of just paying the fines.

Time will tell on all three of the above. On a lighter note, in preparing for a presentation Bank Strategies LLC is giving Tuesday in Scottsdale at the Western States Director Symposium, we began to play around with what CFPB might really be. We came up with Crazed, Fanatical, Penalizing, Bureaucrats. ( my note: sounds about right Big smile )

sam.lowry wrote:

Seriously, America? It's Never the Sex, Revisited

Tell that to the Brits. Oh, wait...

Director General of BBC Resigns in Growing Scandal - NY Times

Bubblisimo Gerkinov wrote:

It's not the affair so much as the e-mail trail imo.

Still amazes me how many are technologically incompetent when it comes to email....

aClem wrote:

Without cell phone service, it's going to be really rough on the younger generation. They may be forced to interact with those physically near them.

That has "Onion Title" written all over it.

black dog wrote:

time for Federal Reserve and Treasury to bail out TBTF insurance companies

Took over a year plus for many people in the NE to finalize everything from the tornado based on insurance claims.

Let's just add to the fun.

Oman wrote:

with a bull horn.......


MikeCLT wrote:

Boston MBTA is shutting down at 2pm.

CT is apparently shutting down the highways at 1. That'll make for fun travel. The first rule of kayaking is to not use it as your signature.

(right now just some gusts but little to no rain)

aClem wrote:


Romo dit it again.

Rajesh wrote:

confident that if re-elected, he would secure within six months a deficit-reduction deal with Republicans equivalent to the "grand bargain" he failed to achieve last year.


Rajesh wrote:

The check is in the mail.

That'll cover about 3-4 months in payments...

oh wait. Christmas is just around the corner! iPads for the family! Santa

Private bank fails.
SmartBank swoops in to buy out.
Now it's smarter.

Private Bank fails? Preposterous!

Wealthy home buyers return to risky ARMs - MarketWatch

Of course they can afford the shift when it happens. Right...right??


barfly wrote:

probably considered it to be better for the house

2001: No Child Left Behind
2012: No Home Left Behind

poicv2.0 wrote:

I'm calling an Elmo! close

Happy 25th anniversary!

Hi Ho Silver, Away!

Either way next month or 2 numbers will be looked at closer.

Until things calm down

Tinfoil Hat

adornosghost wrote

They will probably just write it off as a expense.

Or GE will take a "one time charge" on it at some point when it can be factored in OK.

some investor guy wrote:

Later, we thought we might have been able to get about 6 strong people to get them out and then roll them to the beach.

That would have been an interesting sight.

Definitely know of a foreclosure with a huge un-permitted addition (basically a split-level garage). Home sits empty now as husband/wife are in a separation/divorce style proceedings and essentially walked away from it. Neighbors know all about that bit, and at least 1 or 2 actively know about the un-permitted add-on. Should make for a fun bit when the foreclosure eventually happens(?) since the re-sale is "as is." (allegedly a bankruptcy was threatened, regardless it'll sit empty anyway for quite some time).

Maybe if I send a little letter to the town....

some investor guy wrote:

it cost $30 million to someone, probably the Greek govt, for her to visit.

That included in the bailout? Or maybe it's just a "free" visit?

Tom Stone wrote:

it's very individual and quite nice

So nice to be listed twice.

lawyerliz wrote:

The are many many unpermitted additions and it is a major problem

Government doing its job after the fact as usual Big smile

Former Idealist wrote:

How did authorities get involved in a private sale of a residence?

Sounds like inspection/code enforcement. Never fun when that stuff happens and then others are told about it. Regardless it's not her dealing if it wasn't found out about nor conveyed to her at her time of purchase.

Outsider wrote:

I wonder why she thought that would be a good idea?

Oh they can't be THAT upset....

Someday maybe Ben can release the Black Book.

Elvis wrote:

Now the dwarfs are angry.

Is HG their spokesman?

Rob Dawg wrote:

There are a few reports of running out of regular in a few stations.

California Gas Prices Surge 20 Cents Overnight - Some Stations Run Out of Gas


The Low-P station in Calabasas charged $5.69 Thursday. The pumps bore hand-written signs reading: "We are sorry, it is not our fault," the Times said.

Area Gas Stations Running Out of Fuel, Prices Climbing - Sierra Madre, CA Patch

Less coal in the stockings for Santa this year?

Rob Dawg wrote:

Oh and the price went up 6¢ in the last hour.

Have you price gouged your customers today?

California Dreaming alright...

Cinco-X wrote:

The trick is to revise September's numbers downward and float a new set of positive numbers in early November...

Depending on the winner of course Wink

black dog wrote:

"These are our best trained and best skilled individuals working at the (Bureau of Labor Statistics). It's really ludicrous to hear that kind of statement."


There's my laugh of the day.

I must have been semi-lucky or couldn't find the right match. Tried the 2-job scenario 2 or 3 times. Never worked out since both sides kept pulling at you; oh we need you to do this or that or work here (basically screw your other job).

Now I can do one "job" with several companies instead.

shill wrote:

Note these would be 4 Part time jobs as 4 full time jobs would be nearly impossible for anyone.

Considering all the gigs would be in some level of the service sector where "full time" doesn't really exist (and if it does you bet the hourly is < 15).

Outsider wrote:

How do you do that math?

Work 4 jobs.

With vacancy slightly dwindling, of course that means lots of projects in the works:

Developer now adding 1,100 Boston apartments -

Brown/Warren signs are like gangbusters.

The rest? Nothing. Virtually nothing.

black dog wrote:

  • cold winter

Reports on the non-affordability of heating one's home usually start trickling in later this month when the first cold(er) snaps occur...

shill wrote:

Bernanke Says Fed to Keep Rates Low Even as Growth Rises - Bloomberg

Key mortgage rate hits record low at 3.40 percent - Bottom Line

Rinse every week and repeat...

New figures show Connecticut’s unemployment rate increased half a percentage in August, to 9.0%. That is the single largest percentage point monthly increase in 36 years. The Connecticut Department of Labor says the figures, developed by the federal Bureau of Labor Statistics, show the number of jobs in the state fell by 6,800.

However, the Director of the Office of Research at the state Labor Department says the state’s other measures – including unemployment insurance claims and announcements of company layoffs and expansions — do not support the national figures.

Andy Condon says in order to account for the record decline, state numbers would have to show that nearly 17,000 Connecticut lost their jobs between July and August, and 55 percent of them did not look for new jobs. He says that would be a “very unusual pattern.”

Governor Malloy issued a statement saying he is skeptical about the numbers, pointing out that unemployment claims are down and payroll tax withholdings are up – two trends opposite what would be expected were the state losing jobs at the rate suggested in the report.

Go Blue Team !

dryfly wrote:

Key was to get a big brouhaha then hope O effs up. They got mixed results.

For now. The brouhaha hasn't exactly quieted down totally yet...if it does, then proceed as usual.

dryfly wrote:

Whether you believe they got it or not depends on whether you lean Freeper or Kos.

I don't buy into today's day and age you can hold an Embassy for 444 days. Couple of months right now would do wonders though.