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  • My house - atm card no more

    We will be working a long time to pay off the debt incurred by the foreclosures incurred by reckless use of non-existent equity. In the new pay-as-you-go economy the dollar will strengthen and the recession shorten. There will be far fewer $6000 weeks in Tuscany and $300 martini lunchs. For far too many, a rude awakening...
    Posted to Moneybox by david wayne osedach on September 2, 2008

  • Call housing a commodity/Case closed

    Buying and Selling Housing Accounts as a Commodity What Greenspan (and Paulson) euphemistically call 'mis pricing risk' by the nation's financiers is more aptly described as their collective purchasing of 90% to 100% leveraged commodity accounts. At the end of the day, homes are a commodity. There are laws regulating the purchase and ...
    Posted to Moneybox by cognitorex on April 2, 2008

  • Enrons Everywhere: the Smoke Signal of Alchemy

    The 22 March Economist has an eye-popping graph on the explosive growth in US finance profits as % of all US profits in recent years. (''What went wrong'). Does 40% sound about right to you?If this is not a stark depiction of a bubble in the making -- no, 'Smoke Signal of Alchemy' is better. What is Unreal is unsustainable, & shows Mischief. ...
    Posted to Reading List by PercyVer on March 22, 2008

  • FED BAILOUT OF BEAR

    Why doesn't the Fed get some options on the common stock? The stockhholders should suffer some penalty when the firm gets into this kind of difficulty, and the Fed should have the opportunity to profit assuming the bailout works.
    Posted to Today's Papers by Cap on March 15, 2008