nym

We Need a 'New Paradigm of Economic Thought'

So, Professor Mark, you have pointed out the problem without suggesting much in the way of a solution, except that the toxic assets are worth less than 100%. The current policy has been described as 'pretend and extent.' As far as the stock market is concerned, it is working. If you can fool some of the people some of the time, perhaps you can....

Place Not Your Hopes in Mortgage Servicers

"Homeowners" who can't make their payments would have to be bailed out over and over. Those homes must get into the hands of those who can make their payments. As the foreclosures continue, prices will continue to fall, and more buyers will become eligible.

We need more media coverage of cases where demolition has become appropriate.

Dysfunctional Marriage: Creditors vs. Debtors

Graham: I think Salmon meant that debt is superior because it must be paid back first, certainly in a bankruptcy. I thought it absurd that GE borrowed from Berkshire and then paid a dividend.

Why Corporate Short-Termism Won't End Anytime Soon

After making that comment, a blog led me to www.nytimes.com/2009/0..., which documents GMAC sitting on mortgage modifications and collecting service fees. About a quarter of my net worth is in an insured account at Ally, which is what GMAC is calling itself these days. I am ashamed, but I blame our government, which has been captured by these guys. We have the best government money can buy, and has.

Why Corporate Short-Termism Won't End Anytime Soon

"Put yourself in the shoes of a CEO." Quite right. Let's say you head a large bank. Your assets exceed your liabilities. The government tells you the world's economy will fall apart if you go bankrupt. You trudge on toward retirement, keeping the employees working. If fools prop up your worthless stock, that's their problem. The oligarchy are wearing no clothes.

BusinessWeek's Subscription Liabilities

Lounsbury:
There's an online version you should at least skim through.

Who Really Understands Housing?

"As credit conditions improve...." Please elaborate. Sure the lax rules of the subprimes et al. are gone, but qualified buyers can get mortgages. And surely you don't think interest rates are going to get lower.

Wow! Where Did the Oil Go?

And this article seekingalpha.com/artic... forecasts weak demand.

Wow! Where Did the Oil Go?

On another hand, this SA article seekingalpha.com/artic... claims oil is being stored off-shore in surplus tankers seekingalpha.com/artic....

Property Values - Eight Key Charts

I urge interested parties to look at this www.campbellsurveys.co...
and visit this blog www.calculatedriskblog.../ regularly.

Property Values - Eight Key Charts

It seems to me that the affordability chart reflects: large turnover in certain states (CA, NV, AZ etc.), mostly of in the bottom half of the market on distress (foreclosure et al.) sales. Your results may vary. Also, note that the source is NAR, National Association of Realators: guess what butters their bread.

More on the Great Housing Recovery Debate

Ooo, Casey, you stepped in it this time.

Outcomes vs. Principles: Why Disclosure Doesn't Work

c smith, tell it to the big banks.

Ameristock Funds' New Gas Futures ETF: An Attractive Instrument In So Volatile a Market

Sorry about that: posted on the wrong article.

Ameristock Funds' New Gas Futures ETF: An Attractive Instrument In So Volatile a Market

Good info in article, but author doesn't have a clue on when to buy. I urge you to look at seekingalpha.com/artic... to see how the fees add up as contracts roll over every month. The author's best bet to get his money back is to sell to the greater fools that come along. Judging from the thumbs down given here to some of the better comments, there are plenty of fools around.