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LivininCDM

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  • Daniel Indiviglio is miffed by the chorus of cries for mortgage modifications as reparation for shoddy foreclosure processing, which will further punish upstanding taxpayers - who may yet be forced to bail out negligent banks: "More modifications wouldn't stick it to the banks," he writes, "they would stick it to the taxpayers who are dutifully paying their bills."  [View news story]
    1. Remove all persons residing in homes that have been foreclosed on as soon as possible. (owner loses)

    2. Publicly auction the home, starting bid shall be $1 no reserve. (bank loses)

    3. Someone purchases home at auction, putting 20% down if loan is required. (new owner wins, bank wins with new mortgage)

    4. Legitimate price of homes is reset, banks quickly clear balance sheets and replace nodoc loans with legitimate 20% down loans. Neighboring properties may suffer loss of property value but can have property taxes reset to offset some of the loss.

    You didn't lose your home because you never owned it to begin with!
    Oct 14, 2010. 08:48 PM | 3 Likes Like |Link to Comment
  • After sinking to $1.00, buyers step in to snap up shares of GM (GM), now +16% to $1.33. Reminder: Citigroup (C) bounced off $1 back in March and never looked back.  [View news story]
    "3)There is nothing special about $1/share."

    Technically this is where they should be delisted if the price were to remain at $1
    May 13, 2009. 01:07 PM | Likes Like |Link to Comment
  • Bulldozing brand new suburbs. Amazing video of brand new suburban homes being razed, as lenders find it's cheaper to destroy out-of-vogue ex-urban communities than to keep them on the books.  [View news story]
    This is one of those headline grabbing stories where when you look a little deeper there is a reason they razed these homes.

    First these were the models. They were build and the rest of the sub division never was when the developer pulled the plug. Vandals and thieves then came in and stole every last bit of anything valuable. (victorville is kinda a hole)

    So rather than leave a few homes in the middle of an undeveopled area for transients and miscreants to set up a meth lab in they tore it down.

    But it sure makes for a good headline.
    May 11, 2009. 08:34 PM | 5 Likes Like |Link to Comment
  • If shares of companies like Harley-Davidson (HOG) and Winnebago (WGO), selling luxury, discretionary items like $35,000 motorcycles and $140,000 RVs are rebounding by 100%+ - 4 to 5 times the increase in the S&P500 - does that suggest that the recession must be over?  [View news story]
    Two words "TRAILING STOP" this rally is easy money but don't think for a second a retest of the March low is not going to happen.
    May 8, 2009. 04:31 PM | 4 Likes Like |Link to Comment
  • Here's a bank by bank list of capital buffer shortfall, or lack thereof (source):
    American Express (AXP): $0
    Bank of America (BAC): $33.9B
    BB&T (BBT): $0
    Bank of New York Mellon (BK): $0
    Capital One (COF): $0
    Citigroup (C): $5.5B
    Fifth Third Bancorp (FITB): $1.1B
    GMAC: $11.5B
    Goldman Sachs (GS): $0
    JPMorgan (JPM): $0
    KeyCorp (KEY): $1.8B
    MetLife (MET): $0
    Morgan Stanley (MS): $1.8B
    PNC Financial (PNC): $0.6B
    Regions Financial (RF): $2.5B
    State Street (STT): $0
    SunTrust Banks (STI): $2.2B
    U.S. Bancorp (USB): $0
    Wells Fargo (WFC): $13.7B  [View news story]
    Hoover I'll see your AXP and go GMAC do to their comm real estate exposure
    May 7, 2009. 05:59 PM | 4 Likes Like |Link to Comment
  • Jon Friedman is disenchanted with Warren Buffett's "crocodile tears" for the newspaper industry. "If Buffett truly believed our nation will be a poorer place without a thriving newspaper industry, why can't he step up and direct his laser intelligence to easing, if not solving, the problem."  [View news story]
    I'm 32 and have never, and do not plan to subscribe to a print newspaper. ( I don't buy them from newsstands either ) Everything is online and instantaneous, if you can't develop a business model to compete then you will cease to exist.

    There is no need to support archaic industries that have been replaced with new technology.
    May 6, 2009. 05:47 PM | 6 Likes Like |Link to Comment
  • Microsoft: The Four Elephants in the Room [View article]
    Vista was and is an utter failure. Why MSFT hasn't figured out that bloated OS's are not the answer instead they could be selling a lightweight solid OS with downloadable add on parts that people need or want. Think Iphone apps' when I say download small cost per app to build out your OS.
    Apr 23, 2009. 12:24 PM | 4 Likes Like |Link to Comment
  • Gold Losing Its Shine as Supply Surges [View article]
    "It was amazing, therefore, when March 30, 2009 came and passed, and so many people stood for delivery, refusing to part with their long gold futures positions.

    On Tuesday, March 31st, Deutsche Bank (DB) amazed everyone even more, by delivering a massive 850,000 ounces, or 8500 contracts worth of the yellow metal."

    Yeah I would say supply has surged 850,000 ounces surged :) do you even read the other articles posted on seekingalpha?
    Apr 8, 2009. 01:22 AM | 4 Likes Like |Link to Comment
  • Individual investors have been piling into Citigroup (C), arguing that the chance to pick up a DJIA stock cheaply and the hope of a quick rebound profit are too tempting to refuse.  [View news story]
    I think people are being sold the hype that a short squeeze is eminent and they stand to double their money like the 1 to 3 play from last month.
    Apr 2, 2009. 01:35 PM | Likes Like |Link to Comment
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