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I have already heard the words "people like you" from a freind whom I warned in 2007 to go to cash. He didn't listen and now he is pissed that his 401K is about 1/3 of what it was. I don't talk about trading or the market to anyone anymore, I was telling everyone who I knew to get in to cash...

Classic! Perhaps if we all cheat on our taxes they will have even fewer resources and even more of us would be able to get away with it :(

As sickening as it is surreal. I will be calling my reps and voicing my utter displeasure at this business as usual attitude and suggest others do the same.

http://www.bloomberg.com/apps/news?pid=20601109&sid=aX6xQJdexEEo&refer=home I love it how they don't even show a modicum of shame. Their sense of entitlement rivals that of some of Obama's most ardent supporters. Workouts for struggling homeowners, ohhhh no can't do that we would lose money...

Good post and I agree, but I worry that getting from where we are now to where we want to be without more of the insidious government intervention, or lack of in certain instances, that has primed the pump of excess may cause more pain than is necessary.

Yes, it will end up being at least double that. A stitch in time. Imagine where we would be if $100B had been applied to the sub prime issue back in the fall of 2007, in terms of modifying the term or rate of all but the hopeless cases. The irony is that in the end Bernanke and paulson will...

True enough, it is no longer about just mortgages that time has long past but house prices are still a very important piece of the recovery puzzle and unless the foreclosures are taken out of the equation the market will have a hard time gaining its footing just as it does anytime there is...

I don't know about any of that, what I do know is that if you aren't already long get so and in a big way. As far as everyone getting a mortgage workout that is obviously not going to happen so you have to ask yourself if you want a few to get the help the system needs them to get or if you...

http://online.wsj.com/article/SB122531677860781723.html This is the type of plan that should have been considered 1st not last, many of us on ET had the foresight to realize that backstopping mortgages was what was needed at the end of last year, it has only taken those in Washington going to...

Sorry to read that Jem, from reading your posts you don't come across as a quitter nor a loser so you will likely make a good comeback. Best of luck to you.

The Chinese must be listening to Obama's speeches. They figure if soaking the "rich" is OK with all these delirious Obama fans then they will be on board with the notion of the "rich" US paying for climate change, same concept really. redistributing the wealth from a "rich" country like the US...

192K unrealized.

Tax cuts is a meaningless term, it depends what taxes are cut and what behaviour is incentivized by that tax cut. How about Mr Smith is incentivized to make that investment by making sure that it will be worth his while to do so rather than making the investment risk adjusted equivalent to...

BRK was at $6K in the early 90's, was in the 80s in 2006, I think people sometimes need a little perspective on this site. Just like in 87 there were some 3000 banks on the problem bank list, now under 200.

I'm in metro west Boston in a supposedly recesion proof area and I am seeing this too. I have been scouting for SFH to rent in the $400K range (median home price in the area is $680K), finally found a place that was halfway decent (would have been easy to spruce up for rental), good location and...

I like the guy but he is going to unwittingly deal the final blow to the economy, we need growth more than anything else. http://online.wsj.com/article/SB122488966230768509.html He uses an example from FedEx. "Look, our capital budget as we went into this year was about $3 billion. We went...

Not sure what libertarian utopia you have the US confused with but believe it or not fraud is still prosecuted here!

I think this is completely the wrong way to think about this, inflation seems like the answer but if everyone inflates then it ends up being an exercise in futility. The real answer is growth. The only real way out of the global economic crisis is massive multi decade growth and it is more than...

The dems pushing Fannie and Freddie to relax mortgage standards and allow their execs to profit from that also played a vital role in creating the problem. Also the law that Phill Gramm pushed to unregulate CDS was voted on 95 to nothing if memory serves. Plently of blame to go around, and 9-11...

So what year will the higher taxes hit? 2010 or 2011?