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The fed "will act in a timely manner as needed to support growth and to provide adequate insurance against downside risks...'' Oh Really, Ben? With the fed funds rate at 3%, how much ammo do you have left, Mr. Bigshot? Oh, and thanks for the breaking news, Johnny on the Spot. Bernanke...

+1 You the man, Joab.

1) Mortgage rates have only fallen for new buyers with excellent credit and cash down for a conventional mortgage. What % of buyers qualify by those standards? I would argue not many, but I don't have the exact %. 2) Mortgage rates are not falling for ARM holders - they're going up; often...

MGIC Swings to $1.5B Loss in 4Q By THE ASSOCIATED PRESS Published: February 13, 2008 Filed at 8:05 a.m. ET http://www.nytimes.com/aponline/business/AP-Earns-MGIC.html?_r=1&oref=slogin MILWAUKEE (AP) -- Mortgage insurer MGIC Investment Corp. says it lost almost $1.5 billion for the...

What a joke report. Much of it was due to higher gasoline prices. http://www.bloomberg.com/apps/news?pid=20601087&sid=am.WFHwnr_5s&refer=home "Excluding automobiles and gasoline, purchases were unchanged from a month earlier."

mak, please. Don't be naive enough to claim mortgage rates are indicative of anything other than fudged government policy and lack of economic clarity. Also, tell your story to those who have ARMs resetting HIGHER. http://www.bloomberg.com/apps/news?pid=20601109&sid=aW1IhWAI7qdg&refer=home...

Take the CEO, and the whole upper echelon of management of this company for that matter, out behind the barn and slay them. WTF are they to invest company money and get shareholders exposed to subprime mortgage debt? This country, investors included, has become far too wimpish and timid in...

Gotta love Iacocca. I raise a glass to you, Lee. Cheers.

Yes. A more specific one. This one is more general, about the effects the specifics are having on the overall market.

The market is up on the scantest of reasons - Buffet's offer to buy out the municipal bond insurance business of the three largest bond insurers. He won't touch their subprime exposure with a 10 foot pole, and told them that. So, smartly, he wants to put them in a position where regulators...

*Scene opens with ERMGLOBAL entering stage right to pick up ringing telephone* [ERMGLOBAL] "Hello?" [Deepthroat-like voice on other end of anonymous phone call] "Follow the money.." [ERMGLOBAL] "Who is this? What are you talking about?" [Deepthroat] "Follow the money." *Anonymous...

He's the master. Regulators may just force these companies to say yes. Buffet skims off their most profitable and viable biz - insuring muni bonds. Buffet doesn't have to touch the skank associated with their subprime obligations. If it goes through.

IndyMac Posts $509.1 Million Loss as Slump Deepens (Update1) By David Mildenberg and Erik Holm Enlarge Image/Details Feb. 12 (Bloomberg) -- IndyMac Bancorp Inc., the second- biggest independent U.S. mortgage company, posted a fourth- quarter loss and suspended its dividend...

Buffett Offers to Assume Muni Liabilities of Insurers (Update2) By Christine Richard Feb. 12 (Bloomberg) -- Billionaire investor Warren Buffett said he offered to assume responsibility for $800 billion of municipal bonds guaranteed by MBIA Inc., Ambac Financial Group Inc. and FGIC Corp...

Credit goes to Mokwit for this EXCELLENT article (yes, I've posted about it in three threads, because it's that good IMO, and I wanted to share): http://www.economist.com/finance/displaystory.cfm?story_id=10656844

Credit goes to mokwit for the link to this EXCELLENT article. http://www.economist.com/finance/displaystory.cfm?story_id=10656844

Excellent articles; especially the Economist link. Thanks very much for that.

How about that... Talk about incompetence of galactic proportions. MSFT shareholders should sell their shares and short the hell of Mr. Softy.

I knew this would happen, as did most people (no revelation on my part). But, MSFT would be incredible obtuse to even advance the discussion of this acquisition, which will end up toxifying MFSTs balance sheet and suck up massive cash which could be far better spent elsewhere.

Dell is NOT phasing them out of their computers. They are actually going to be expanding their use in their retail segment of PCs. http://www.internetnews.com/ec-news/article.php/3727061/Dell+Site+Glitch+Sets+Off+AMD+Abandonment+Fears.htm "As it turns out, the reports were partly...