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He and his partner are expecting two things to happen. This thing takes off and they don't need anyone else or they will get bought to stop it from being released, sort of like the lobbyists or the mob coming over saying "hey if you release this you will ruin all these corrupt profits."...

Better save your bennies mortgage brokers and realtors. There is someone I used to work with whoo is working on a internet app similar to ebay that will wipe out thousands of useless realtor and mortgage broker positions. This is going to level the playing field significantly. Just another...

The whole mortgage closing process is a big sham and ripoff.

Purge the middle, no need for it in any line of business. Educated consumers don't need middle men, but the middle realizes the general mass is ignorant and thus corruption ensues upon the ignorant.

http://www.bloomberg.com/apps/news?pid=20601087&sid=a.ZvzUXYv1gM&refer=home Ahh, the demise of the credit card companies has only started. Finally people are freeing themselves. Who needs credit when you got cash.

The tax assessment of my house was much less than what a licensed home appraiser said it was worth at the peak of the bubble. Folks are in denial. We must revert to true value before any bottom occurs. Banks don't want to get burned again. When this occurs we will have value and buyers...

Commercial real estate becoming the next subprime?

Debt repackaging and subprime crisis "High-yield bonds can also be repackaged into collateralized debt obligations (CDO), thereby raising the credit rating of the senior tranches above the rating of the original debt. The senior tranches of high-yield CDOs can thus meet the minimum credit...

and global issuance of high yield bonds more than doubled in 2003.

http://www.bloomberg.com/apps/news?pid=20601087&sid=a5x0jMKZf4yc&refer=home Bernanke -1983 "The rapid growth in the market share of low-quality, high-yield bonds has important implications. First, there is a growing concern that very large quantities of high-risk debt may threaten...

Nationalized monopolies. Are the days of capitalism numbered? No more private enterprise?

No bottom in housing until that index gets below 118.

Adding fuel to the fire is the fact that the MGICs (insurers) are being decimated because of the number of defaults coming due and having to pay the lenders if the borrowers default and lender forecloses. So even if Chase or Wells wanted to do the loan, they can't because they can't hedge it as...

Ever wonder why companies promote many techies to management after they get a mortgage? You become less marketable and now have a huge mortgage to support. Yes, they own you now.

Folks wondering why they can't get loans from the banks even when their note is paid off and they have equity. I tell ya why, the banks know what a f#$#$in mess we are in and that the shit has yet to hit the fan and when it does it's going to really stink and they ain't ready to touch it even...

It was all false. False economy, false lifestyles. It's getting ugly out there. Here is what I see: Lots of empty commercial real estate just sitting there with For lease signs. Lots more regular white American citizens working the fast food chain counters. Lots of folks not using...

House today worth $500,000. 25% equity line = $125,000 Housing reverts the same amount it appreciated 46%. $500,000 - $270,000 = $230,000 new value $230,000 - $125,000 = $105,000 $105,000 - costs of defaulting = risk or loss $125,000 IOU / $270,000 loss = 46% Problem is...

LOL, they haven't. Thus the 700 billion package. Where you been? These are new times friend, new times. Everyone forgot to to their what-if and now paying the piper. Now banks are calculating their what-ifs.

"There's still equity in the house" Still is the keyword there pal. Lots of folks also thought they had $50,000 amex credit lines until they got the letter saying their lines were being reduced. Lots of unfinished home improvement projects around. If your house is worth $1000, your neighbor A...

Work-Consume(Useless Stuff)-Die or Work-Consume(Leisure)-Die