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EricTheOracle

EricTheOracle
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  • What To Do With A Profitable Fannie And Freddie [View article]
    Best summary of our current situation I've read to date.
    Jul 2 05:59 AM | 4 Likes Like |Link to Comment
  • Avoid The Pending Bad News From Chimera Investment Corp. Sell The Shares Now [View article]
    Aside from the requirement to change accounting firms every few years (auditors in many cases are required by banks and by-laws to change every three to five years), Chimera may have grown uneasy about their current accountant's timeliness and determined to move on. As it is, they did disclose no disagreements, writing:

    "... during the two fiscal years ended December 31, 2011 and 2010 and through March 11, 2012, there were (i) no disagreements (as that term is defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) between the Company and Deloitte on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which, if not resolved to the satisfaction of Deloitte would have caused Deloitte to make reference thereto in its reports on the Company’s consolidated financial statements for such years, and (ii) no “reportable events” (as that term is defined in Item 304(a)(1)(v) of Regulation S-K)."
    May 7 03:20 AM | 1 Like Like |Link to Comment
  • Important Story On Fed Actions [View article]
    Banks should boycott anybody with less that a FICO of 760 so we wouldn't end up in the government legislated bubble where Fannie and Freddie wind up as the stupidest people in the room because of the H.U.D. directive to buy subprime,.
    Nov 28 04:39 PM | 2 Likes Like |Link to Comment
  • Important Story On Fed Actions [View article]
    Banks should boycott anybody with a FICO of 740 or less. This way we wouldn't wind up with government legislated bubbles and Freddie and Fannie as the stupidest people in the room due to H.U.D. directive to buy subprime paper.
    Nov 28 04:39 PM | Likes Like |Link to Comment
COMMENTS STATS
4 Comments
7 Likes