erniem

Why Don't Munis Form a Self-Insured Co-op?

People who refer to themselves in the third person are a bit pretentious.

Ambac, MBIA Are Still Shorts Amidst This Wink-and-Nod

Good article. The CA muni's I own, insured by MBIA, have dropped to 97 cents on the dollar in the last month. While munis are a relatively safe investment, I certainly am thinking of dumping the bonds. MBIA is a dog, and the raters are both corrupt and stupid.

Tuesday Outlook: Monoline Bailout Just a Band-aid?

$2 billion? That is supposed to guarantee AMBAC and turn the market around? LMAO. This must be the ninth bailout of CDO, CLO, CMO, SIV and SUV (jk) products in the last four months, and will buoy the market just like the others, for two or three days before investors remember there is no good news, and the only thing strengthening the dollar is a weak euro on the horizon.

I am still holding gold, energy, no financials, and the DOG and QID.

My 2008 Predictions for Financial Catastrophe

I'm stocking up on popcorn and couches.

Citi Analyst on Ambac Got It Way Wrong

Many of the large houses will initiate a buy on a stock they are selling. No loyalty or honesty in that business.

Jim Cramer's Stop Trading! 1/9/08: Berkshire Stay Away

notice apple is down twenty points in a little over one week. nice call jim, got any more?

Jim Cramer's Stop Trading! 1/9/08: Berkshire Stay Away

Typical Cramer hogwash. Apple is on another one of its tears. When the novelty wears off and people look at earnings instead of sales, it will begin the downward spiral again. Google is the most hyped over bought stock out there.

Can The Fed Inflate Its Way Out of Housing, Credit Mess?

Well, there is certainly no doubt that inflation has been the primary tool of the Fed financial policy. Anyone who has been alive long enough can vouch for that. When a house in Ca that cost $35k in 1965 is worth $1.3 million forty years later, you have inflation. At a 9.5% yearly rate. There is simply no way around that, and 50% of that inflation has been in the last six years.

Yes, I would say inflation ( the favorite government tool to keep expanding bureaucracy and "paying" off debt) has been extreme. And they still insist it is 2-4% yearly.

A Financial Day of Reckoning for Bond Insurers

ACA is dogmeat, the market price of $.40 tells us that. MBIA has a huge guaranteed income stream and may stay viable IF it can dodge the default bullet. Though a recession and defaults on sub prime tranches and muni bonds will sink the company in a heartbeat. They have pennies on the dollar in capital to offset potential losses.