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Keep in mind that these people have not lost something forever...only temporarily not able to make money...shrimper makes $100,000 net per year (??)..pay the guy $300,000 and move on....how would he show lost above that amount? BP will write individual checks up to a certain amount pretty...

I would also assume that BP is requiring some signed documents with the money being paid out now. Maybe not complete release of liability but something. If I am a damaged party and BP has said they will "make me whole" I am not sure I want to have a lawyer with his sticky fingers in my pie...

The lawsuits will be consolidated in Houston federal court.....I think everyone will be surprised how quickly they are dealth with and the matter settled..... Real documented damages will get paid ASAP....emotional distress from someone in Denver watching CNN is not, LOL... If...

Two points: 1. The hearings were the best commercial for term limits for Congress that could be devised.... 2. If everyone paid their mortgage none of this would have happened. John Paulson would be a much smaller hedge fund manager. SteveD

Can one file a Sch C as one is doing business as a "trading business"???? Without being designated "Trader Status"?? I know capital loss is limited to $3000/yr but are commissions, fees etc etc counted in the cost basis or are they operating expenses as in other business. One could lose...

I think MasterCard just processes the transaction for various lenders who actually loan the money...... Don't understand how that would relate to any special real estate knowledge??? SteveD

President Clueless is a delustional dreamer.....he is totally unable to deal with the facts that are on the table.... He has never been responsible for anything....he is without a doubt the most unqualified President to be elected in out lifetime... SteveD

No disrespect meant, but using a $1,000,000 house in Santa Barbara as an example is simply nonsense.... The press thinks the entire real estate home market is NY City and California..... SteveD

But turn this around: SEC runs out and investigates Madoff on Henry's statement... Leaks to press....headline: Madoff investigated for fraud!!! Madoff's business collasped.....found to have a different strategy than what Henry was aware of.....everything on up and up....but now out of...

One should always own rental property close to blue collar type of employment..... Vacation rental property has appeals but the downside is just what you describe....100% to vacant.... I was more referring to people who own a second home/condo...lake cottage, Aspen home, beach...

A couple of reality points: 1. Remember, when you buy real estate you are the guy who agreed to pay the highest price.... 2. Don't assume that amount of mortgages have any thing to do with purchase price....especially in the last 6 or 8 years, LOL 3. Remember, we are coming off of a...

My guess is that most, if not all, of the public homebuilders will be gone by the end of 2009.... They are very ill suited to be a "public" company....I think they will partner up with a hedge fund....lots of cash and no need to justify to a strict lender.... No barrier to entry and...

Gold has been, and still is, the biggest Ponzi scheme out there...makes poor Bernie look like a piker.... It has no real value other than what a jeweler will pay...it is not, repeat not, a SAFE store of value.....very few people will actually buy the stuff from you when you want to sell...

I have changed my mind from an earlier post..... I think most, if not all, public homebuilders will not be around much longer... Their expertise is large land development and mass construction gaining economy of scale on cost.....a lot of their profit was actually land/lot appreciation...

A fair amount of new regulation is coming.....most likely driven by pension funds, college endowments etc etc....they are getting killed with the volitility..... No need to bring back uptick rule as .01 spread makes it difficult... Fed just doesn't allow margin on shorts....enforce locate...

Can one walk into a local bank in the US with a bar of gold and exchange it for US dollars?? Has anyone actually done this? SteveD

The value of a new car goes down the day we drive it home.... We buy an old house and expect it to go up in value at once.... Everyone bitches about the savings rate of the country.... A vast amount of the economy depends on the consumption of questionalbe goods..... People talk...

Good point, LOL... I stand by my prediction. SteveD

I think gold will be the next "black swan event" in that the perceived "value" will drop like the provervial rock....down to a price that will shock most....below $150/200 oz. The bullion shops will simple disappear overnight...no buyers as they don't need the product....fringe investment...

So you are saying one can go to the auction house, buy a $700 milk cow and hand over an ounce of gold? And that gold with be freely accepted without question? That brings up another question. Can one take a bar of gold into Bank of America and exchange it for US dollars in cash or...