DrStool Posted July 1, 2009 Report Share Posted July 1, 2009 But was it enough. Link to comment Share on other sites More sharing options...
shorty Posted July 1, 2009 Report Share Posted July 1, 2009 Mortgage applications plunged to a seven-month low last week as demand for home refinancing loans tumbled 30%. Link to comment Share on other sites More sharing options...
capitall Posted July 1, 2009 Report Share Posted July 1, 2009 But was it enough. The realization kinda crept up on me, from posts today in IDS, of how the U. S. government apparently plans to solve the economic crisis. They give the big banks the govt reports ahead of time so that they can frontrun them, and Presto!-- the banks start having earnings-- besides the earnings from shorting themselves as Citi does. Also, as an article posted here yesterday shows, the SEC goes after small fry, many of whom probably did nothing wrong, while letting huge well-connected institutions get away with every kind of thievery imaginable as long as it increases earnings. These are institutions whose stocks are heavily invested in by pension funds and 401K holders. And, whaddaya know, the holders of these banks stocks start having appreciation of their investments. What a plan, huh? Think it will work? Perhaps we had better hope so, as they do not appear to have a Plan B. Link to comment Share on other sites More sharing options...
mdporter Posted July 1, 2009 Report Share Posted July 1, 2009 NEW YORK (CNNMoney.com) -- The Obama administration is widening its mortgage refinancing program to allow more borrowers hit hard by falling home prices to take part. Borrowers whose loans are now worth up to 125% of their home's value are now eligible to refinance their homes under the Obama foreclosure prevention plan announced in February. Previously, the limit was 105%. The move acknowledges that home prices in many areas have fallen so far that many people were shut out of the program. Some 67% of homeowners in Las Vegas -- one of the hardest hit areas and where Housing Secretary Shaun Donovan announced the expansion Wednesday -- owe more than their homes are worth. "They" are totally desperate to keep housing from finding its natural price. And let's not talk about how banks are now holding properties that the "owners" have stopped paying on, and in fact are letting the "owners" continue to live there, payment free. They are not even starting the foreclosure process! Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Deny Reality Link to comment Share on other sites More sharing options...
shorty Posted July 1, 2009 Report Share Posted July 1, 2009 The realization kinda crept up on me, from posts today in IDS, of how the U. S. government apparently plans to solve the economic crisis. They give the big banks the govt reports ahead of time so that they can frontrun them, and Presto!-- the banks start having earnings-- besides the earnings from shorting themselves as Citi does. Also, as an article posted here yesterday shows, the SEC goes after small fry, many of whom probably did nothing wrong, while letting huge well-connected institutions get away with every kind of thievery imaginable as long as it increases earnings. These are institutions whose stocks are heavily invested in by pension funds and 401K holders. And, whaddaya know, the holders of these banks stocks start having appreciation of their investments. What a plan, huh? Think it will work? Perhaps we had better hope so, as they do not appear to have a Plan B. so we can git our share by just dongin' bankster common? not much action today Link to comment Share on other sites More sharing options...
shorty Posted July 1, 2009 Report Share Posted July 1, 2009 NEW YORK (CNNMoney.com) -- HomeDebtors whose loans are now worth up to 125% of their home's value are now eligible to refinance their homes under the foreclosure prevention plan announced in February. Previously, the limit was 105%. The move acknowledges that home prices in many areas have fallen so far that many delinquent deadbeat liar loan failed housing gamblers were shut out of the latest scam opportunity. WHY NOT 500% ? SERIOUSLY. WE KNOW WHAT WE ARE, NOW WE JUST QUIBBLIN' OVER THE PRICE. GIVE EVERY FAILED HOUSING GAMBLER $2 MILLION CASH, PER YEAR, FROM NOW ON. WHY NOT? IT'S ONLY FRN's. PRINT 'EM UP. JUST MAKE SURE PEOPLE WHO ACTUALLY PAID FOR THEIR HOMES NEVER SEE A NICKEL OF THE FREE MONEY. Link to comment Share on other sites More sharing options...
mdporter Posted July 1, 2009 Report Share Posted July 1, 2009 on IDS DireWolf sounded like he is checking out for good. Sold his business at the mall? Business sounded bad. Link to comment Share on other sites More sharing options...
capitall Posted July 1, 2009 Report Share Posted July 1, 2009 so we can git our share by just dongin' bankster common?not much action today No, not today. And they will have their gyrations I am sure. For all I know the market will hit a new low before October. But a couple of years from now, IF the govt plan works, we will all wish we had donged big bankster common some time this year I'll bet. Link to comment Share on other sites More sharing options...
mdporter Posted July 1, 2009 Report Share Posted July 1, 2009 With California on the verge of issuing IOUs, Gov. Arnold Schwarzenegger moved to conserve cash Wednesday by ordering state workers to take a third day of unpaid furlough each month. The executive order signed by Schwarzenegger will reinstate "Furlough Fridays," requiring more than 200,000 state workers to take unpaid leaves on the first three Fridays of each month. The move amounts to an additional 4.62 percent pay cut for state workers, bringing their total reduction in 2009 to about 14 percent because of two furlough days imposed previously. Pain starting for CA state workers I hope the politicians get 100% furlough days soon. Maybe the feds can make the state a federal territory or maybe a national park. With all the gangbangers here we have plenty of wild game. Then we could drop the ridiculous state sales and income taxes and pay our tribute directly to the Masster. Link to comment Share on other sites More sharing options...
shorty Posted July 1, 2009 Report Share Posted July 1, 2009 With California on the verge of issuing IOUs, Gov. Arnold Schwarzenegger moved to conserve cash Wednesday by ordering state workers to take a third day of unpaid furlough each month. The executive order signed by Schwarzenegger will reinstate "Furlough Fridays," requiring more than 200,000 state workers to take unpaid leaves on the first three Fridays of each month. The move amounts to an additional 4.62 percent pay cut for state workers, bringing their total reduction in 2009 to about 14 percent because of two furlough days imposed previously. Pain starting for CA state workers them lucky dogs git three-day weekends almost every week Link to comment Share on other sites More sharing options...
mdporter Posted July 1, 2009 Report Share Posted July 1, 2009 them lucky dogs git three-day weekends almost every week In the comments section of that article I linked, the state workers (posting on time we the taxpayers pay for) are calling for a general strike! I say go for it, we'll find out how many of them we really need. Link to comment Share on other sites More sharing options...
DrStool Posted July 1, 2009 Author Report Share Posted July 1, 2009 Radio Free Wall Street 7/1/09 Lee Adler and Russ Winter discuss the coming buying opportunity and what will get us there. Not a subscriber? Click here to hear a free preview. Listen to any podcast prior to March 2009. Click here for archive. Be surprised! To subscribe and hear this podcast right now, click here! Subscribers only. Enter your login when prompted. Radio Free Wall Street Podcast 7/1/09 [33:50m]: Play Now | Play in Popup | Download Click here to start a 30 day risk free trial to the Wall Street Examiner Professional Edition Fed Report. Link to comment Share on other sites More sharing options...
shorty Posted July 1, 2009 Report Share Posted July 1, 2009 HURRY! DON'T MISS OUT! A total of 629 units, 489 of which have already been sold. Link to comment Share on other sites More sharing options...
MrHanky Posted July 1, 2009 Report Share Posted July 1, 2009 More salt in my wounds! Everything I sold on friday is up about 5% from where I dumped it.....Guess I should stop looking in the rear view mirror I think we dump next week though. Link to comment Share on other sites More sharing options...
shorty Posted July 1, 2009 Report Share Posted July 1, 2009 if they had slapped them things up just a few feet closer together, it could have started a domino effect :ph34r: Link to comment Share on other sites More sharing options...
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