Grouper's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/151296/comments http://seekingalpha.com/article/174788-has-buffett-lost-his-mind?source=feed#comment-774576 774576 1. Absolutely no way to re-create the right of way system, today or ever, at the price he just paid for the operating company.
2. Our friends in Washington are going to tax the heck out of fuel, increasing rails freight advantage, but more importantly, finally creating demand for passenger rail (which will of course be funded by our tax dollars).
3. What will be the logical place to put passenger rail? Sure, in existing freight ROW, which, of course, we tax payers will buy or lease from BNI.
4. Where will we logically develop higher density urban villages? In and around existing ROW.
5. Obama has big bucks flopping around for "High Speed Rail". What are the odds some of that money ends up buying or leasing BNI ROW? In case you haven't noticed, WB is a big BO supporter - why not, BO bailed him out of the too early investment in GE and GS (both of whom benefitted from the AIG bailout, TARP, TALF, or whatever).
6. High Speed rail requires local commitment to regional systems......
7. All of the above will be funded by fuel taxes....]]> Mon, 23 Nov 2009 22:22:09 -0500 1. Absolutely no way to re-create the right of way system, today or ever, at the price he just paid for the operating company.
2. Our friends in Washington are going to tax the heck out of fuel, increasing rails freight advantage, but more importantly, finally creating demand for passenger rail (which will of course be funded by our tax dollars).
3. What will be the logical place to put passenger rail? Sure, in existing freight ROW, which, of course, we tax payers will buy or lease from BNI.
4. Where will we logically develop higher density urban villages? In and around existing ROW.
5. Obama has big bucks flopping around for "High Speed Rail". What are the odds some of that money ends up buying or leasing BNI ROW? In case you haven't noticed, WB is a big BO supporter - why not, BO bailed him out of the too early investment in GE and GS (both of whom benefitted from the AIG bailout, TARP, TALF, or whatever).
6. High Speed rail requires local commitment to regional systems......
7. All of the above will be funded by fuel taxes....]]> http://seekingalpha.com/article/128305-home-prices-from-the-70s-a-good-investment?source=feed#comment-447443 447443


]]> Tue, 31 Mar 2009 23:46:28 -0400


]]> http://seekingalpha.com/article/127957-why-banks-want-to-return-tarp-money?source=feed#comment-441286 441286
Goldman, Citi, and BOA are trying to repay their TARP debts because they got back door TARP money from AIG. AIG paid out obligations at face value with your money, so now these guys can repay their TARP with free money (really should have been huge losses because AIG was bankrupt, and they should have received nothing).



]]> Thu, 26 Mar 2009 13:47:33 -0400
Goldman, Citi, and BOA are trying to repay their TARP debts because they got back door TARP money from AIG. AIG paid out obligations at face value with your money, so now these guys can repay their TARP with free money (really should have been huge losses because AIG was bankrupt, and they should have received nothing).



]]> http://seekingalpha.com/article/117269-cramdowns-and-refinancings-won-t-need-appraisals?source=feed#comment-369701 369701
During the 80s, we referred to FIRREA as the full employment act for appraisers. Millions of dollars were spent getting appraisers to tell us what we already knew. ]]> Thu, 29 Jan 2009 08:57:35 -0500
During the 80s, we referred to FIRREA as the full employment act for appraisers. Millions of dollars were spent getting appraisers to tell us what we already knew. ]]> http://seekingalpha.com/article/116979-obama-s-bad-bank-plan-is-a-turning-point?source=feed#comment-368600 368600 I am a modeler, a former banker, and a real estate developer. Modeling is not the issue. Everyone forgot that the fundamentals of the underlying asset are what matters, not the models, risk speads, average default rates, seniority tranche, etc. In the big runnup, deals were done by expert modelers, with no understanding of the underlying asset.

We already have a bad bank. It is called the FDIC. In the 80s, we had a bad bank called the FSLIC. It went bust, so we made the RTC. If the FDIC goes bust, we can make the FDIC Bad Bank. Fundamentally, failed decisons need to result in failure of the institution, not a bailout of the institution though an attempt at removing bad assets via a model created by another expert modeler with no understanding of the underlying asset.

When the FDIC takes over, you wipe out the stockholders, the bondhoders, the preferred, the TARP investment, Warren Buffett (who apparently has lost his touch), the Saudis, Singapore, and everyone else. At the end of the day, the taxpayer still pays, so lets wipe the slate clean, let people who understand underlying assets make the bids, and move on. Otherwise, we will end up like Japan, unable to get out of our own way for the next ten years.
]]> Wed, 28 Jan 2009 10:53:58 -0500 I am a modeler, a former banker, and a real estate developer. Modeling is not the issue. Everyone forgot that the fundamentals of the underlying asset are what matters, not the models, risk speads, average default rates, seniority tranche, etc. In the big runnup, deals were done by expert modelers, with no understanding of the underlying asset.

We already have a bad bank. It is called the FDIC. In the 80s, we had a bad bank called the FSLIC. It went bust, so we made the RTC. If the FDIC goes bust, we can make the FDIC Bad Bank. Fundamentally, failed decisons need to result in failure of the institution, not a bailout of the institution though an attempt at removing bad assets via a model created by another expert modeler with no understanding of the underlying asset.

When the FDIC takes over, you wipe out the stockholders, the bondhoders, the preferred, the TARP investment, Warren Buffett (who apparently has lost his touch), the Saudis, Singapore, and everyone else. At the end of the day, the taxpayer still pays, so lets wipe the slate clean, let people who understand underlying assets make the bids, and move on. Otherwise, we will end up like Japan, unable to get out of our own way for the next ten years.
]]> http://seekingalpha.com/article/114041-america-is-this-the-end-of-an-era?source=feed#comment-352825 352825 Sun, 11 Jan 2009 21:10:41 -0500 http://seekingalpha.com/article/106829-ge-not-so-good-things-come-to-light?source=feed#comment-310797 310797 Thu, 20 Nov 2008 10:38:50 -0500 http://seekingalpha.com/article/97086-does-gs-recapitalization-indicate-it-s-time-to-invest?source=feed#comment-263282 263282 Wed, 24 Sep 2008 08:16:53 -0400 http://seekingalpha.com/article/96059-wachovia-stanley-really?source=feed#comment-258225 258225 Thu, 18 Sep 2008 14:02:15 -0400 http://seekingalpha.com/article/92135-bank-insiders-made-out-like-bandits?source=feed#comment-236301 236301 Fri, 22 Aug 2008 08:51:36 -0400 http://seekingalpha.com/article/73400-jingle-mail-how-do-you-value-home-equity?source=feed#comment-156250 156250 Thu, 24 Apr 2008 22:26:30 -0400 http://seekingalpha.com/article/73400-jingle-mail-how-do-you-value-home-equity?source=feed#comment-155457 155457
It should be about cash flow, not debt/equity. If you can make the payments, make them. If you can't, don't, but triage your non-payments in the following order: unsecured, non-essentials like boat/RV/timeshare/seco... homes, home equity loans/helocs, cars (unless you live and work without a car), first mortgage should be the last thing you stop paying. Why? Because you have to live somewhere, and the first mortgage is likely less than renting a comparable place, and once your credit is screwed, renting gets harder. If you have to stop paying, don't send in the keys, stay until the sheriff carries you out. With proper planning, you can live payment free for at least 12 months, and pros can do it for 24 months or more. ]]> Wed, 23 Apr 2008 15:04:00 -0400
It should be about cash flow, not debt/equity. If you can make the payments, make them. If you can't, don't, but triage your non-payments in the following order: unsecured, non-essentials like boat/RV/timeshare/seco... homes, home equity loans/helocs, cars (unless you live and work without a car), first mortgage should be the last thing you stop paying. Why? Because you have to live somewhere, and the first mortgage is likely less than renting a comparable place, and once your credit is screwed, renting gets harder. If you have to stop paying, don't send in the keys, stay until the sheriff carries you out. With proper planning, you can live payment free for at least 12 months, and pros can do it for 24 months or more. ]]>