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Thanks for the heads up, you given us just enough time to start building the escape pod. Anyone else interested sign up on the "build the escape pod" thread in the Hook Up forum. Psst OP, don't look now but I think Nurse Ratchet is headed your way... http://www.youtube.com/watch?v=MCOxcDcZ69o

I think this is really the only way out of the crisis. If smarter action had been taken at the outset the crisis could have been contained and a few more years of prosperity could have been enjoyed before the inevitable slowdown, but we are far beyond that point. Now the ONLY thing that will...

He will be very lucky if he isn't charged with fraud, people who do what he did in that $ amount often are. In addition debts run up in the 60 days before BK are not dischargeable if they are not shown to be for necessities.

Having seen a few more of his posts I would say you are absolutely correct.

My first thought was there is a difference between being able to afford the house and qualifying for the mortgage. However, it looks like credit scores are actually rising: http://www.marketwire.com/press-release/Credit-Karma-974543.html

The only thing we can be sure of is that we don't know (knowledge and belief being distinct). If the religious fanatics took the time to ponder that before they tried to foist their dogma, often by force or one type of another, on to others they would do a lot less damage than they can be...

No, because at that point the way things are going he would certainly qualify for a government bailout :D Seriously though, many people have 80-90% of their net worth in their homes. Taking a loan at what is historically (artificially) cheap long term money, throw in the interest deduction...

Not necessarily such a bad idea if the OP is only going to mortgage a small % of his home equity, say 25% or if the OP has plenty of additional liquidity and just wants to add some more leverage. More info is needed to make a call one way or the other. Say he has $1M in liquid investments and...

http://www.fieldcheckgroup.com/blog/

Amen. A buddy was thinking about putting on a put credit spread in the 80-85 strike area on SKF a few weeks ago when it was around $110 thinking that 90 was "about as low as it could go" before expiration. I managed to talk him out of it by explaining why S/R are meaningless on these...

China's stimulus as a % of GDP makes the US stimulus look pitiful, in addition China has been forcing its banks to lend (probably a high % of bad loans) so there injection of real liquidity is another big differece between the US and China. Now everyone is waiting to see what China's 1Q GDP...

We would take food stamps at the food bank I volunteered at. It was 10c a pound with a limit of 20lbs/person/week. You can get a lot of staple food for that $2!

FWIW there were a couple of Profs on Minyanville that were touting the stock all of yesterday before it was halted and Fil Zucchi had laid out a play where you sold the May 10 bught the May 15 and took the credit and bought the April 15s in a ratio.

Here he is and well worth reading as always: http://www.fieldcheckgroup.com/2009/04/11/4-10-forward-look-at-defaults-foreclosures-banks-and-housing/

Money laundering :)

Agree, very dangerous to short the USD here. The moment this bear market rally is over and we head back down the USD strengthens and sharply. As for treasuries, there is much manipulation/buying of US treasuries by the Fed and central banks trying to support their currencies that when they run...

The irony is that at least 65% of Americans don't have good enough credit to borrow $1K at better than 10%. How many US corporations can borrow at 3.5% for 30 years? Who backs the US treasury that is currently able to get 30 year money for 3.5%? US citizens and corporations. I know that is an...

http://www.rgemonitor.com/us-monitor/256255/are_jobless_claims_peaking

Yep, no change in the position. Sold my Rimm calls today though :)