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Don't know who Rush is, but he is quite right this time.

Obama couldn't have cared less about the stock market, as he has concluded it is racist.

I noticed this a long time ago.

These numbers seem to be very high. I remember in the early 90s, a software programmer for someone with a Ph.D. from UC Berkeley would be only 50K. So $37/hour for a cashier was probably because of the union.

You from India?

welcome to socialism. The bailout of the sub-prime borrowers, the rise of tax on the wealthy/business, are just of part of Obama's plan of moving US to socialism. I actually think this is the beginning, the tip of iceberg.

Say government save C and BAC, market will rally for two days. Then market will ask, who is next? maybe JPM? Then the market will tank again. The repeat of last Sept and Oct.

The market is fearful that the banks will be nationalized.

I know in FL there is a building condo that was built 2005 and sold out in 2006. Strangely no one from the building paid any mortgage. Not a single payment. Still there is no foreclosure. All the people in the building have been living there without paying anything for two years.

Japan also had to re-align its industry, which is largely manufacture, to meet the challenge from China by the way, do your guys think the mortgage will work?

this mortgage plan seems like a welfare package

Under Obama's plan just announced yesterday, this guy will likely qualify for a loan modification. Moreover, the mortgage payment will reduce to less than one third of the income, that is, $2000 a year (Yes, that is yearly payment). welcome to socialism.

I know many mortgage related models, but I don't recall any one that assumes that the home prices only go up.

Most of these models are pricing models, not predictive models. Forecasting is not in the job description of most quants

Sorry, still don't get it. If you were CITI CEO, what should you do?

please define "responsible"

This is another example of how the media (especially AP) can and is willing to blew up anything out of proportion. AP telephoned some banks to ask how they spent the money. Some banks said yes, then lent some, and probably are holding some other. Then the AP story became "NO ONE CAN TRACK...

This is one of the strange things Buffett did in the last two years.

Bair does not know what she is doing. She should be fired.

humm... you are not a racist, but just someone with racist thoughts... get a life