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  • FASB 157, Mark-to-Market Accounting and the Uptick Rule [View article]
    "Does anyone really believe that financial institutions mark their assets correctly?"

    I do it for a financial institution and I KNOW they are done correctly, i.e. people DO mark them to market (whatever it is) levels. Try to mess with my internal and external auditors. You have no clue how things work, sorry.
    Mar 12, 2009. 10:13 PM | 2 Likes Like |Link to Comment
  • Are We Off the Bottom Yet? [View article]
    Stop your fudgy nonsense and show us some numbers. And the numbers are telling us that commercial RE is 25% of residential in notional value. How big should commercial RE losses be for them to dwarf resi?
    Mar 12, 2009. 10:09 PM | Likes Like |Link to Comment
  • Why Felix Should Walk Away [View article]
    You are bringing over this Russian mentality of "high moral standard" here to this society, thank you Alex! Why dont you think of moving back there, to good old Russia, where they wont think twice before phucking with you and your money? Dont bother you with morals? So why is it an OKEY for you to live without morals, but expect others to have them, huh? By the looks of it, you prefer living in Cali, rather than Moscow, I really wonder why?

    On Mar 05 03:18 PM Alex Filonov wrote:

    > Debt is secured. Felix by law can walk out of the mortgage if he
    > feels like that. What's wrong with this picture? By walking out Felix
    > doesn't break contract, bank takes collateral, everybody should be
    > happy. Bank took this risk when it wrote the contract, bank expected
    > home values to go up forever. Well, assumption was wrong and bank
    > lost money.
    > Don't bother me with morals. Felix is no more morally obligated to
    > continue paying this mortgage than bank was obligated to properly
    > estimate risk and write sensible contract.
    Mar 5, 2009. 05:48 PM | 1 Like Like |Link to Comment
  • Why Felix Should Walk Away [View article]
    "So I don't think that Felix has any kind of moral obligation to the lender, nor to the sophisticated financial institutions which ended up buying the lenders' mortgages and who should have known exactly what they were doing."

    Thats the reason I am torn whether I should stay in America or go back to the old country (i immigrated here 20 years ago). What happened to the country I loved? Probably people like Salmon, who claim IT IS AN OK TO SCREW PEOPLE WHO LENT YOU MONEY!!!!! What a moral decay!!! It is actually getting more and more pronounced in the whole culture... it is called "SCREW EVERYBODY".. IS NOT IT ONE OF THE DEADLY SINS, FELIX?
    Mar 5, 2009. 05:24 PM | 6 Likes Like |Link to Comment
  • The Good and Bad in Hedge Funds Today: A Manager's View [View article]
    Many many pockets of the financial industry will see either total destruction as a business model, or will be greatly reduced in size. Not because of regulation. Simply because of the reputational damage they have sustained in this mess. I can think of monoline insurers, SIVs, and yes, hedge funds.
    Mar 5, 2009. 04:02 PM | Likes Like |Link to Comment
  • No Bottom in Sight [View article]
    I doubt we will have a classic capitulation to end this bear.. more likely 2003 scenario, when nobody "knew" the bottom was reached...
    Mar 4, 2009. 11:32 AM | Likes Like |Link to Comment
  • Jim Chanos's Kynikos Suffers Withdrawals and Perry Cuts Performance Fee [View article]
    if people sell short fund, does not it mean the manager has to BUY to cover his positions?
    Mar 3, 2009. 05:16 PM | Likes Like |Link to Comment
  • How Will This Depression Differ from Previous Ones? [View article]
    "The reason is that the government pays for the safety net with money that would otherwise have been used in productive endeavours."

    huh? what is more productive than giving PEOPLE a chance?
    Mar 3, 2009. 03:09 PM | Likes Like |Link to Comment
  • Bears Take the Upper Hand, For Now [View article]
    Death of equities! this is what few prominent investors proclaim last week (notably Bill Gross)... i am not old enough to remember 70s.. but i know, right after Time magazine put this headline on the front page back then, the market started its rally... i am not holding my breath.. but since usually i am wrong, maybe... maybe we are close to turning point...
    Mar 2, 2009. 04:15 AM | Likes Like |Link to Comment
  • Ukrainian Economy Getting Ugly [View article]
    sad truth is, western europe could care less for ukraine and its people... watch it, there will be no help coming from the west, if yesterday's comments from merkel are any indication..

    russia, on the other hand, as you call it, will meddle with ukraine... in the same way western germany "meddled" with eatern... russia and ukraine people will be drawn together, due to ethnic and historic ties...

    "orange revolution" ideals? LOL... i cant wait for the germans to start "bailing out" ukranians... yep, that will happen...
    Mar 2, 2009. 03:37 AM | 1 Like Like |Link to Comment
  • Not Everyone Is Afraid [View article]
    "it is easy to get on the scare the hell out of them bandwagon"

    i have observed long ago that people absolutely love to scare others into paralysis, and love to be scared themselves. how else would you explain the popularity of nonsense horror movies, evening news etc?.. Those of us who live in New York City, will remember the mass hysteria after 9/11... smartest Wall Street folks would uproot their families and get the hell out of the city, and some would not even come here for a day of necessary meetings... it was unreal... all these websites, spreading scary rumors sprang up, and were extremely popular... it went away, eventually.. this, will also pass.. good observations on the parking, dining etc.. are thing really that 'the end of the world"?
    Mar 1, 2009. 08:15 PM | 2 Likes Like |Link to Comment
  • Mortgage Refinancing Is Not the Solution [View article]
    "Virtually any home purchased since 2004 is now worth less than the mortgage owed on the house."

    you can stop reading after that...
    Mar 1, 2009. 07:41 PM | Likes Like |Link to Comment
  • Sallie Mae: Subsidy Cuts Hurt, But Why So Bad? [View article]
    good points... i highly suspect servicing is the reason behind this charade... govt can not do it, so they play by private enterprise rules.. now they try to move the bowl away, which will result in higher servicing fees... either way, capitalist pigs win...

    On Feb 26 03:35 PM Consider_this wrote:

    > Their point is that withdrawing the subsidy while still having direct
    > govt education loans (which are ultra low interest rate) will kill
    > private market lending.
    > Not hard to see that the lenders, because they have to borrow from
    > the Fed ultimately, can't make this equation work.
    > But I don't see why we have to FORCE private lending to work or even
    > exist. Since the equation obviously doesn't work, then move on and
    > let private lending to education end. Why subsidy?
    > Maintaining a facade or charade just so that it seems that there's
    > a slew of "choice" on the marketplace, when the choice is a false
    > choice, is silly. (i.e. Lend direct from govt; or lend from private,
    > which gets subsidy, which behind the scenes really borrow from govt
    > anyway)
    > That's not free market; that's silly market.
    Feb 26, 2009. 03:48 PM | Likes Like |Link to Comment
  • Sallie Mae: Subsidy Cuts Hurt, But Why So Bad? [View article]
    i want to study SLM now.. the government will not be able to service the loans, and most likely it will be left to private enterprises like Salie.. is it not it good for SLM then? no risk and plenty of servicing fees? what am I missing here? they can charge hand over fists, can they not... the govt will have no way but to play by their rules... it can not service the loans.. hmmm...
    Feb 26, 2009. 03:41 PM | Likes Like |Link to Comment
  • FASB: The Damage Has Been Done [View article]
    thanks for this! I could not agree more. Fantastic piece, i am serious.
    Feb 25, 2009. 01:07 PM | Likes Like |Link to Comment