Charmin Posted November 25, 2009 Report Share Posted November 25, 2009 It all just sucks. Marketing sucks. Advertising sucks. Donation buttons suck. Outside of the several hundred of you who subscribe to my work and Russ's stuff, to you I am deeply and eternally grateful for giving me the opportunity to continue publishing and serving you. I also appreciate those of you who give of your time and ideas on this board. Without you, it would not exist. The rest of you freeloaders suck. Bunch of goddam crap. I should just go back to Wall Street and play make believe like the rest of the assholes there. Doc, I'm thankful your willing to publish and keep us humble. Link to comment Share on other sites More sharing options...
shorty Posted November 25, 2009 Report Share Posted November 25, 2009 fool me twice, .... Link to comment Share on other sites More sharing options...
Charmin Posted November 25, 2009 Report Share Posted November 25, 2009 Rusty 2000 is in a pocket below the 50 bar ma with zero momentum at the moment. I think it should break hard, but the bulls keep confounding my thinking. http://www.StockSharePublishing.com/ChartL..._1259119624.png I think it needs a little help from XLF to start rolling over. http://www.StockSharePublishing.com/ChartL..._1259119856.png GS is Cue'd down to do so. Bring a bear hug to financials. http://www.StockSharePublishing.com/ChartL..._1259119929.png Link to comment Share on other sites More sharing options...
shorty Posted November 25, 2009 Report Share Posted November 25, 2009 cat closed a nickel shy the 200 one my favorite short targets for the double-dip because I don't believe any that shovel-ready greenshoot crap the first $400 Billion of stimulus didn't work the second $400 Billion won't work either Link to comment Share on other sites More sharing options...
Charmin Posted November 25, 2009 Report Share Posted November 25, 2009 Any trade against the up bias case could get a little more mileage if only the SMH would join in with the financials to begin breaking down. http://www.StockSharePublishing.com/ChartL..._1259120165.png Link to comment Share on other sites More sharing options...
Slothrop Posted November 25, 2009 Report Share Posted November 25, 2009 Thanks, dharma, good to see you as well -- E-wave on the dollah is just like the oil chart in the summer of 08, except upside-down, if that makes sense. Link to comment Share on other sites More sharing options...
shorty Posted November 25, 2009 Report Share Posted November 25, 2009 EOM action Link to comment Share on other sites More sharing options...
Jorma Posted November 25, 2009 Report Share Posted November 25, 2009 Here a nice pic what Shorty and a few his freinds be havin' fun on his new boat,after the Big Pick come in. When you swim with the sharks sometimes you get eaten. Jump in that water and look who might be waiting. It might be better to just keep puttering over to KK like always and just enjoy the simple life. Link to comment Share on other sites More sharing options...
Drano Posted November 25, 2009 Report Share Posted November 25, 2009 Sometimes the person being foreclosed upon really is being screwed by the lender. This judge vacated the mortgage, so the people who bought the house, now have really bought it for pennies on the dollar. HOWEVER in this case I agree with the judge that the conduct of the lender is so egregious that this was a good thing. First of all, the bank can't even prove it owns the mortgage, and second of all: [the bank representative's] statements made clear to the Court that Plaintiff had no good faith intention whatsoever of resolving this matter in any manner other than a complete and forcible devolution of title from Defendant. Although IndyMac had prepared a two page document... which contained what purported to be a financial analysis, [indyMac's attorney's] affirmative statements made it abundantly clear that no form of mediation, resolution or settlement would be acceptable to Plaintiff. IndyMac asserts the total amount due it to be in excess of $525,000 and freely concedes that the property securing the loan is worth no more than $275,000. Although [indyMac attorney] insisted that Defendant had been offered a "Forbearance Agreement" in the recent past upon which she quickly defaulted, it was only after substantial prodding by the Court that [attorney] conceded, with great reluctance, that it had not been sent to Defendant until AFTER its stated first payment due date and hence, Defendant could not have consummated it under any circumstances. (Defendant, through Plaintiff's duplicity, found herself to be in the unique and uncomfortable position of being placed in default of the "agreement" even before she had received it.) Incredibly outrageous behavior. It actually gets worse if you keep reading, because the daughter of the woman being foreclosed against offered to buy the house and the bank refused the offer. http://www.businessinsider.com/judge-slams...ortgage-2009-11 Link to comment Share on other sites More sharing options...
shorty Posted November 25, 2009 Report Share Posted November 25, 2009 When you swim with the sharks sometimes you get eaten. Jump in that water and look who might be waiting. It might be better to just keep puttering over to KK like always and just enjoy the simple life. yer right guess I'll just cut my winnin's 1/4 SEC and 3/4 fer Doc then grab a nice cold beer Link to comment Share on other sites More sharing options...
shorty Posted November 25, 2009 Report Share Posted November 25, 2009 Sometimes the person being foreclosed upon really is being screwed by the lender. This judge vacated the mortgage, so the people who bought the house, now have really bought it for pennies on the dollar. HOWEVER in this case I agree with the judge that the conduct of the lender is so egregious that this was a good thing. First of all, the bank can't even prove it owns the mortgage, and second of all: Incredibly outrageous behavior. It actually gets worse if you keep reading, because the daughter of the woman being foreclosed against offered to buy the house and the bank refused the offer. http://www.businessinsider.com/judge-slams...ortgage-2009-11 Delinquents win again! Everyone else loses, who play by the rules and pay their bills. They are the true Morans, and they cannot survive in the new culture. Only cheaters and anglers can survive. Let's all just stop paying our mortages and all our other bills, then cry to a judge. Link to comment Share on other sites More sharing options...
shorty Posted November 25, 2009 Report Share Posted November 25, 2009 offered to buy the house at what price? at a big fat 1/2-price discount they did not offer to make the payments they agreed to or pay back all the money they borrowed letting them off the hook gives them an unearned windfall and cheats everyone else Link to comment Share on other sites More sharing options...
I'm Sorry Dave Posted November 25, 2009 Report Share Posted November 25, 2009 It all just sucks. Marketing sucks. Advertising sucks. Donation buttons suck. Outside of the several hundred of you who subscribe to my work and Russ's stuff, to you I am deeply and eternally grateful for giving me the opportunity to continue publishing and serving you. I also appreciate those of you who give of your time and ideas on this board. Without you, it would not exist. The rest of you freeloaders suck. Bunch of goddam crap. I should just go back to Wall Street and play make believe like the rest of the assholes there. Doc, WSE Pro is the one subscription I would NEVER consider giving up. Your work is invaluable--nothing else comes close. The Fed Report is unique--every time I read it I'm struck by how little all the other "experts" out there really know. And even though I'm not a heavy poster, Capital Stool is a place I regularly come to learn things from others who have a clue--as well as to laugh my ass off. Link to comment Share on other sites More sharing options...
Drano Posted November 25, 2009 Report Share Posted November 25, 2009 offered to buy the house at what price? at a big fat 1/2-price discountthey did not offer to make the payments they agreed to or pay back all the money they borrowed letting them off the hook gives them an unearned windfall and cheats everyone else Not true in this case. You should read the judge's decision. It just keeps getting more horrifying. The bank violated federal guidelines for re-fi'ing, claimed that they were owed tens or hundreds of thousands more that they could prove a debt for, refused to count more than 25% of the purchaser's income, refused to let the husband and daughters co-sign on the loan so their income could go toward the repayment (thus qualifying them for a rate less rapacious than the OVER TEN PERCENT RATE that IndyMac jacked them up to) -- if you read that thing, it just becomes more horrifying as it goes. It looks like the attorney just had it in for these people and, as the judge said, refused many reasonable offers. These people weren't trying to do anything but pay their loan back, but geeze, a ten percent interest rate when the banks are getting free taxpayer money? THIS case was indeed a case of a bank shafting people. I'm glad that the mortgage was dismissed - maybe these jerk lawyers and banks will make some attempt to accommodate people who WANT to pay back their loans. Ten effing percent? I'm usually incensed by people and their liar loans, but that's not what this case is. Link to comment Share on other sites More sharing options...
Drano Posted November 25, 2009 Report Share Posted November 25, 2009 Furthermore, the judge says that the bank was "so devoid of good faith that equitey cannot be permitted to intervene on its behalf. Indeed, Plaintiff's actions toward Defendant in this matter have been harsh, repugnant, shocking and repulsive to the extent that it must be appropriatey sanctioned so as to deter it from imposing further mortifying abuse against Defendant. The Court cannot be assured that Plaintiff will not repeat this course of conduct if this action is merely dismissed and hence, dismissal standing alone is not a reasonable option." The level of outrage from the judge in this, after months of dealing with IndyMac, is something to behold. Bravo, judge. And the judge makes it very clear that these people WANT to repay this loan, and that foreclosure would cost the taxpayers a lot of money, as they would be homeless and would end up in a nursing home at taxpayers' expense, instead of being cared for by their daughter (who wanted to be a co-signer but was refused by IndyMac). This really looks like a case of an arrogant jerk lawyer throwing her weight around. I hope IndyMac fires her, but they'll probably promote her instead. Link to comment Share on other sites More sharing options...
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