Chorniki

7 Comments

    • Wells Fargo Is Not Interested in Others' Junk...Surprised? [view article]
      Some reporter please ask Mr Stumpf whether the securities in the "hold
      to maturity" portfolio are the same as the securities in the "for sale portfolio", whether the valuations are the same for like securities, and
      what is the bank's rationale for the difference in valuations for like securities. That is 0.22 cents in the "held for sale" portfolio and same
      securities valued in the "held to maturity" portfolio valued at $1.00.
      The disingenuosness of his reply should be hilarious.
      Sep 01 03:54 PM
    • The Home Start Numbers Are Not a Positive [view article]
      Reggie:
      Enjoyed the article. I give you credit for knowing the following and you
      probably edited the info to save space:
      Every building department is loaded with wannabee or failed engineers, architects, urban planners, landscape planners, you name it. So what?
      By the time your typical builder runs the gauntlet of all these nice people, perhaps a year or two will have passed. Meaning obviously that these multiple family homes, i.e. apartments, were on the planning boards eighteen to twenty four months ago. Not building is
      not an option. BK looms on the horizon if you make that choice. So
      the builder puts his head down and charges ahead hoping for the best. His banker is right along side him probably because he made the builder a "loan to own".
      May 16 10:23 PM
    • CPI Numbers For April: Spotlight On Energy [view article]
      Of course, it is self serving. Everything a Pol says or does is self serving. The very real problem with all this guvmint malarkey is
      that they know it's only good while they are there in power. They
      could not care less what happens after they leave office. Nice pension,
      automatic honorifics where ever they go until they are too old to know they are being "honored". Where is Joe MacCarthy when we need him? You commie crum, you! LOL.       May 16 12:43 AM
    • Why Bank Debt Looks Attractive [view article]
      Don't know why you call it a "moral hazard". Is it your assumption that there are any morals on the Street? The play as presented by you is
      that of a slicker hoping to cop an unjustified gain at the expense of his fellow man. Why would a moral man touch it with a ten foot pole??       May 15 10:51 PM
    • The Credit Card Time Bomb Is Ticking [view article]
      Was in Quizno's at the cash register waiting to pay. In front of me stood a Mom and about 12 year daughter. Mom fishes out a credit card
      offering to pay the @29.55 tab. Card rejected. Fished out another card. Rejected. Third try, card is accepted. My turn. Cash. Asked the attendant if the previous spectacle occurred often. ""All the
      time, now." Appeared to be from lower-middle income classes.
      Hey, the fun is just getting started!
      May 15 09:22 PM
    • The CAT's Meow - Cramer's Lightning Round (5/14/08) [view article]
      Blankfein may make money, always. Who cares? Has he made any money for the owners of the company? Since October, 2007 GS at
      $250.00 high has traded as low as $140.00. Simple market fluctuation,
      right? Today at $188.59 and slumping.
      Mr. Dan Sparks and Mr. Josh Birnbaum should be invited to an SEC
      meeting investigating the rationale used to convince Hank Paulson
      to allow them to trade tens of millions on sub-prime mortgages. Mr. Paulson certainly will have credible deniability. Nevertheless, he did have to approve the scope of the two gentlemen's trading. What did
      these two gentlemen know that made them so confident to make
      such outlandish trades? Certainly, they must have been aware of
      the enormous demand being made by the investment banks for more "product". Anyone have any idea how that "product" was being generated to as to satisfy the demand from the investment banks?
      Hint: ask any ambulatory notary that worked for the big banks
      supplying the investment banks request for more "product".
      Please ask the notary if any clients refused to sign the "docs" and if
      the answer is "yes", why did those clients refused to sign?
      Advertise for such "refuseniks"... If a sufficient reward is offered, there should be many who will answer the call.
       May 15 08:07 PM
    • A Warning in the Bond Market [view article]
      Laughable how all commentators give the banking industry and the real estate industry a pass on the present mess. Realtors had lists of "buyers" who would sign the docs for purchase cooked up by the banks
      as AAA. Purchase completed, the realtor would share his profit with the buyer. The house would then be rented for a few months and a new "buyer" would then purchase the flipper, at a higher price, of course. Some properties were "flipped" three and four times in a span of less than two years. Illegal immigrants owned two and three houses bought in this fashion with the connivance of the usual suspects. Today they continue to collect the rents on these houses
      even though they have stopped making the mortgage payments for some months now. Dilatory mortgage foreclosure procedures at the banks(the "AAA" paper was passed on to WS investment banking firms to slice and dice to their heart's content) is aiding and abetting these scams. The next shoe to fall will be when all these properties are thrown on the market for the value investors to place in their portfolios. We are not even half way there yet in my opinion, witness
      MER's most recent write down.       Apr 17 06:02 PM
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