I should know

Bill Ackman's Letter to Paulson On Restructuring Plan

A number of things here:

Did Ackman really "send a letter on Friday"? If so, it will probably get there by Tuesday maybe Wednesday.


I'm taking a guess that Paulson may be pretty busy over the weekend and this upcoming week and "may" not get too much time to peruse through his mail.


I'll go out on a limb here and say that IF the letter makes it, and IF Paulson reads it, he will not give a rat's ass what Ackman has to say about this issue; neither do 99.9999999% of the world's population.

Investing in the Housing Crisis Aftermath: Stock Picks and Pans

woodchuck,
You comments are right on target. They also gave me a good laugh this morning.


Signed,
Sir Ramjam Delilah Funkyboogaloo-Smythe
Chief Academic Officer(Provost)
Chulafinee City Community College

Investing in the Housing Crisis Aftermath: Stock Picks and Pans

woodchuck,
You comments are right on target. They also gave me a good laugh this morning.


Signed,
Sir Ramjam Delilah Funkyboogaloo-Smythe
Chief Academic Officer(Provost)
Chulafinee City Community College

A Very Cheap Shot on the WSJ Editorial Page

I just re-read the WSJ editorial and I think it's right on target. What part is so incorrect that it should be called a "Cheap Shot"?

Misinformation From Fannie and Freddie On Walking Away

The most important part of the “walking away is good” theory is that it doesn’t take into consideration moral and ethical standards that say “if you borrow money, for any reason or endeavor, you are morally and ethically obligated to repay that debt. Suppose you borrow money from your family to buys stocks and the stocks go in the tank. Michael Shedlock believes that “it’s OK to walk away” from that debt. Suppose you borrow money from a bank and purchase a boat and the boat sinks and, unfortunately, it is drastically underinsured. Michael Shedlock believes that “it’s OK to walk away” from that debt. Suppose you call your stock broker and make a substantial stock purchase and the stock collapses during the same day. Michael Shedlock believes that “it’s OK to walk away” from that debt, it’s OK to say that you made a mistake and you’re not going to pay for those stocks, sorry. Most stock brokers have experienced that situation at least once. It’s a slimy, despicable way of doing business and it shows the total decay of morals and ethics for a great number of people.

I’ve made my share of bad bets, bad purchases, and bad investments, but I’ve always honored my obligations. I didn’t screw anyone due to my mistake.


On the other hand, Michael Shedlock and many people like him believes that “it’s OK to walk away” from your debts and obligations; morality and ethics play no part in their daily activities. So sad.