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    • Fri Nov 7th 00:41 AM | Rating: 0 0
      Commented on:
      The Foreclosure States: Referendum for Obama, or Scapegoating the Party in Charge?
      long_on_oil....well said. I believe that the saying, "we get the government we deserve" is depressingly true. Politicians in general make a living from taking credit for anything good, and pointing fingers for anything bad. The current situation certainly has plenty of room for the latter. The only good thing to come from the current federal government, the Democrats can't blame the Republicans anymore, except in retrospect. On second thought, can't you hear the "boy, we inherited an even bigger mess from the Bush than we thought"

      I wrote in a vote for Ron Paul.
      View article »
    • Thu Nov 6th 09:31 AM | Rating: +1 0
      Commented on:
      A Capitalist Reformation
      "and if they continue to rise I will drop them in favor of carrying catastrophic coverage and self-insuring the large deductible to retain disposable income. 20th century capitalism’s greed precluded any meaningful tort reform because it tried to balance both high-quality healthcare and the option to spin the malpractice wheel of fortune. "

      I work in the medical device industry, and while I agree with most of what you said, I would add this:

      Two problems with this approach, the self insured pay more than the insurers do. If you doubt this stay a couple days in a hospital, and compare the checks you write with the ones Blue Cross would write. Of course the reason for this is the layers of insurers and health management are what is driving medical care upwards. There is a horrendous layer of money management, and the socialization will only add to it.

      The costs of equipment, consumables, and direct labor are flat to lower. It's not the cost of healthcare increasing, it's healthcare management.
      View article »
    • Tue Oct 28th 00:14 AM | Rating: 0 0
      Commented on:
      Happy-Sad News: Foreclosure Sales Climb
      One small detail left out of the numbers on the number of houses sold, which is the ones the banks buy back at auction.
      View article »
    • Tue Sep 30th 01:02 AM | Rating: 0 0
      Commented on:
      Moving the Deck Chairs on the Economic Titanic

      "If you're so convinced that the House has cleverly figured this all out, ask yourself this: Where were these same newly smart people when the credit crisis was building?"

      A very good question, to which I would counter, why did Ben and Hank not figure out until 2 weeks ago that we needed their magic touch and $700B to avert catastophy. One of the main obstacles is that no one believes them about the severity of the problem. We keep hearing their is a liquidity crisis, and maybe so, maybe not. But the solution is not preceived by the majority to place more money in the hands of those who p!$$ed it away the first time.
      View article »
    • Thu Sep 25th 01:20 AM | Rating: 0 0
      Commented on:
      What the President Didn't Say
      The purchase of MBS's is a very long term proposition. In OC California distressed properties are going up at an increasing rate. In August there were approx. 1400 foreclosures, but over 2400 default notices served. And the high end of the market, previously believed to be rock solid, is leading the charge.

      Apparently people with larger incomes make poor decisions too. As part of the bailout let's make sure they can live in their houses for free for several months and forestall foreclosure

      That should certainly stimulate the economy because they can spend the money they would normally use for a house payment. This sounds just as rational as the rest of the dynamic duo's bailout plan. Or maybe this is part of the plan
      View article »
    • Thu Sep 25th 00:58 AM | Rating: 0 0
      Commented on:
      What the President Didn't Say
      You really think so Johndough? Do you remember last summer when Bernanke said the problem would be contained? When Paulson said it was a suubprime issue, and would not have wider repercussions?

      Do you remember when Bernanke was in confirmation hearings he said housing was not in a bubble?

      These two have consistently been wrong. And negligent. Do we really want these yahoos with $700 billion in their hands?

      We do need liquidity, that is not the same as buying up distressed assets.

      View article »
    • Wed Sep 24th 23:51 PM | Rating: 0 0
      Commented on:
      You Can't Handle The Truth
      Paulson and Bernanke are two of those responsible for preventing this mess. Maybe the most responsible. They are supposed to regulate banks and ensure fiscal responsibility in the banking sector. They dropped the ball an incredibly long distance.

      Now we're supposed to "just trust" them with $700 billion? And do keep in mind that Bernanke was the one who stated that we were not in a real estate bubble.

      Why should we trust these guys?
      View article »
    • Wed Sep 24th 15:17 PM | Rating: 0 0
      Commented on:
      Academic Economists vs. Paulson
      Felix, where are the facts to back up one point you made? The main problems with the Paulson plan are:

      We are taking tax payer dollars to make the same institutions more solvent that lost their solvency through mis-management, doesn't anyone else see a problem with this?

      The premise of the Paulson plan is that liquidity is needed for financing growth, and I agree with this, but idea the plan proposed to implement this is faulty. Why not funnel liquidity into the economy through paths that have demonstrated success? Where is the economic growth path? Paulson has yet to elaborate on that little detail.

      Bernanke stated at his confirmation hearings that we were not in a housing bubble. Do you thrust his judgement now? I sure as hell don't.
      View article »
    • Tue Sep 23rd 14:52 PM | Rating: 0 0
      Commented on:
      Even After the Bailouts, Housing is Still a Mess
      "in corporate AND PERSONAL INCOME TAXES"....... Do you read your own post? And how do you know that half the population pays nothing in income taxes? I'm not arguing, just asking how you know?

      What I do KNOW is that Bernanke said quite emphatically at his confirmation hearings that we were not in a housing bubble. How he could reach that conclusion, even in 2004 is a mystery. And he was clearly right on this wasn't he.

      My point was, and still is, that Bernanke and co. have not demonstrated that they have the wisdom and judgement to be trusted with essentially a blank check.

      By the way, I never said I was being robbed.
      If you like the idea go ahead and send in a check.
      View article »
    • Tue Sep 23rd 14:26 PM | Rating: 0 0
      Commented on:
      Mortgage Delinquencies Continue to Climb, Watch Out for Other Loans
      Ven, you are correct. This makes how long that Bernanke has been using threat of recession to get what he is asking for? It's a tired threat, because it's already happened.

      This is the same guy, by the way, who insisted we were not in a housing bubble. And he wants how much more??
      View article »
    • Tue Sep 23rd 13:57 PM | Rating: 0 0
      Commented on:
      This Uncertainty Is Unacceptable
      Robe, what freakin planet are you from? Bernanke was the moron who said we were not in a housing bubble, and you want to hand these idiots $700 billion? And it was on Bernanke's watch that most of the liar loans were made.

      One other little tidbit for you, the top of the bubble of ALtA and prime loans is just starting to melt.





      View article »
    • Tue Sep 23rd 13:25 PM | Rating: 0 0
      Commented on:
      Even After the Bailouts, Housing is Still a Mess
      The real gripe is that those of us who lived within our means now get to pick up the tab for those that did not.

      And now we are going to give 700 BILLION to the same fools that said we were not in a housing bubble.
      View article »
    • Mon Aug 18th 23:53 PM | Rating: 0 0
      Commented on:
      Today's Negative-Equity Update
      We just had an appraisal done on a house in Camarillo,CA. The zillow estimate was within $5K of the appraisal done by an appraiser, who did not know if he was hired by a buyer or seller.
      View article »
    • Mon Aug 18th 01:14 AM | Rating: 0 0
      Commented on:
      Time To Cover Those Housing Shorts
      See the attached article, the pain is only now starting to "climb the ladder" to higher priced houses.

      money.cnn.com/2008/08/...
      View article »
    • Mon Jul 14th 11:01 AM | Rating: 0 0
      Commented on:
      Fannie & Freddie: Myth vs. Reality, Part 2
      Losses of $99million? Where did you get this number?

      What facts are you basing your conclusions on?
      View article »
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