FYI News

[Moe Ghoul]

Post headlines or non political news stories that may be of interest to the community.

We're only in the 3rd inning of financial meltdown and bailouts. What's left will get mauled in shareholder suits and class action litigation.

http://www.marketwatch.com/news/sto...x?guid={FA23DF5A-918F-41DA-B794-7E553ADAFAA7}

 

[Moe Ghoul]

You gotta go to foreign sources to find out that the Fed is being investigated. Sounds like we are close to the bottom of the 3rd inning.

http://www.spiegel.de/international/world/0,1518,562291,00.html

 

[Moe Ghoul]

http://www.kommersant.com/p-12733/international_economy/

 

[GrilledSteezeSandwich]

Here's a story on Tiger Woods..

 

[Moe Ghoul]

June home foreclosures up 53 percent
Thu Jul 10, 2008 6:12am EDT
By Helen Chernikoff

NEW YORK (Reuters) - Home foreclosure filings jumped 53 percent in June from a year earlier, although they were down 3 percent from May, and foreclosures are expected to rise further, real estate data firm RealtyTrac said on Thursday.

Foreclosure filings rose on an annual basis in 39 states to a total of 252,363 properties during the month, with Nevada, California, Arizona and Florida posting the highest foreclosure rates.

One out of every 501 U.S. households received a notice of default, auction sale or bank repossession in June, RealtyTrac said.

Fannie, Freddie insolvent, Poole tells Bloomberg
Thu Jul 10, 2008 9:37am EDT

(Reuters) - Mortgage lenders Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz) are "insolvent" and may need a U.S. government bailout, former St. Louis Federal Reserve President William Poole was quoted as saying in an interview with Bloomberg.

 

[ctenidae]

http://www.reuters.com/article/inno...080711?pageNumber=1&virtualBrandChannel=10179

Everyone who owns a home should keep a close eye on this sort of thing. Examine any programs the gov't rolls out to "save homeowners" carefully, and take advantage of any you can. If there's a program that lets me stick GMAC with a 15% cut on my mortgage, even though I'm perfectly capable fo servicing the loan, I'm going to do it. You should, too. Think of it as punishment for the excesses. You're going to be paying for any action, anyway. Might as well get your cut of the goods.

 

[Moe Ghoul]

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/07/08/cnbridge108.xml Oh MYY! That's a bit understated!

 

[ctenidae]

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/07/08/cnbridge108.xml Oh MYY! That's a bit understated!

As one of our consultants is fond of saying, we are so screwed.

 

[Moe Ghoul]

As one of our consultants is fond of saying, we are so screwed.

Have been screwed and will continue to be screwed. Amazing how the theatre is on fire, people's hair is on fire, and shrub and his minions are telling everyone to relax and stay in their seats.......ROFLMAO! People shoulda been eliminating as many intermediaries between themselves and their loot at this point. Stay tuned.......

 

[Moe Ghoul]

Dow drops below 11,000 for 1st time in 2 years. In real value, it's closer to 8000.

 

[Marc]

*doesn't panic*


*continues to buy at regular intervals*

*shrugs*

 

[Moe Ghoul]

IndyMac Bank seized by federal regulators

http://www.latimes.com/business/la-fi-indymac12-2008jul12,0,6071779.story

 

[Moe Ghoul]

The allnite drive thru discount window at the McFederal Reserve is open for Fannie and Freddie and The treasury is prepared to use tax money to buy equity. The insanity is gaining momentum.

http://seattletimes.nwsource.com/ht...08049582_webfannieplan13.html?syndication=rss

 

[Moe Ghoul]

Citigroup's $1.1 Trillion of Mysterious Assets Shadows Earnings

http://www.bloomberg.com/apps/news?pid=20601109&sid=a1liVM3tG3aI&refer=home

There's a line wrapping around McFed's drive thru discount window. Maybe I'll call it Benny-gan's or Mrs. Paulson's.

"Old Man Potter is giving us 50 cents on the dollar!"

http://www.reuters.com/article/topN...?feedType=RSS&feedName=topNews&rpc=22&sp=true

 

[Moe Ghoul]

http://www.bloomberg.com/apps/news?pid=20601087&sid=aPokh6La9.HY&refer=home

Another classic example of the fire department showing up with no hoses after the house already burned down.

 

[ctenidae]

http://seekingalpha.com/article/84966-gas-lines-coming-this-fall

Might not be a bad idea to go ahead and fill up the oil tanks for this winter now. Even if all of this doesn't come to pass, some probably will.

 

[wa-loaf]

http://seekingalpha.com/article/84966-gas-lines-coming-this-fall

Might not be a bad idea to go ahead and fill up the oil tanks for this winter now. Even if all of this doesn't come to pass, some probably will.

We're switching over to gas the summer. Besides some saving from more efficient boilers gas prices won't be much better than oil, but hopefully a more reliable supply. We have a full oil tank. I'm thinking I should hold onto that oil for the winter as it may be very valuable to barter with.

 

[wa-loaf]

IndyMac Bank seized by federal regulators

http://www.latimes.com/business/la-fi-indymac12-2008jul12,0,6071779.story

Wachovia next?

http://www.nytimes.com/reuters/business/business-wachovia-probe.html?_r=2&oref=slogin&oref=slogin

 

[drjeff]

Wachovia next?

http://www.nytimes.com/reuters/business/business-wachovia-probe.html?_r=2&oref=slogin&oref=slogin

Starting to make a bunch more sense to me now when about a year ago, my long time, very trusted family financial advisor switched his decade plus affliation from Wachovia to UBS, and told me and my family "trust me"

 

[wa-loaf]

Starting to make a bunch more sense to me now when about a year ago, my long time, very trusted family financial advisor switched his decade plus affliation from Wachovia to UBS, and told me and my family "trust me"

err, UBS is under investigation for aiding tax evasion.