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D. McHattie's  Instablog

D. McHattie
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I am a permanent amateur, an educated guesser. I have a BA from the University of Saskatchewan and an LLB and MBA from Dalhousie University. My investment opinions and decisions are my own, as are their consequences.
  • Tim Geithner's Housing Denial 1 comment
    Jun 4, 2009 8:07 PM

    Our Treasury Secretary proves, once again, that he cannot manage his personal finances.money.cnn.com/2009/06/...

    The monthly rent is steep ($7500) but given that he paid over $1.5M for it and has $27k in annual taxes, it's not near enough to cover the mortgage.

    Geithner's hoping for some sort of rebound in prices, clearly not understanding what a bubble.  When bubbles burst they overcorrect - this house will not be worth what he paid for it for 30 years at best.  Unless he's planning on massive wage and income inflation, which may very well be the case.

    You know who I would like to nominate for Treasury Secretary?  The person who's renting the place from Geithner - s/he can make a $7500 rent payment but is smart enough not to buy into a still-inflated market. This is someone who is obviously far more fiscally astute than Geithner.

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  • Dr. Spider
    , contributor
    Comments (27) | Send Message
     
    I particularly liked the comment by the journalist who wrote the article. "Well, you can't feel too bad about the loss he's taking, after all, he's making $191,000!!!"

     

    Oh, yeah, HA HA. Who is the bigger moron here? That's close to what I make and it would ruin me to loose that kind of money.

     

    Either way, Mr. McHattie, you are dead on about Geithner.
    13 Dec 2010, 10:45 PM Reply Like
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