Monday, November 17, 2008

Sex in the (Subprime) City

Per reader demand of more "human interest" sidebar, preferrably with feminine flavors:

"Multiple wholesalers began inundating mortgage brokers with offers for the same applications. Some brokers chose to exercise their power by asking for something extra in exchange for their business: sex. "

"Wholesalers also offered sexual favors to co-workers."

Sunday, November 16, 2008

Social Unrest indicator ticks up!

After ticking down per foreign swap lines and AIG moneys. I have 60-70% probability this will NOT turn down.

Friday, November 14, 2008

Of all this talk about Mensa and CQ, IQ stuffs

by the self-declared clever Bill Gross, he cannot mask himself a failed liar.

Look at these two statements in the article:

1. "The past era can best be described as a more than half-century build up in credit extension and levered finance."

2. "There will come a time, however, perhaps over the next few weeks or months, when deleveraging of the private sector is met by the leveraging up of the government sectors: the TARP, CPFF, and MMIFF will inject over a trillion dollars of liquidity into the system over a short period of time."

Dead giveaway. If I were a cop, I would smash the perps head to the desk and yell "Where the f*** did you bury the hooker you son of a *****. Who says lying is easy.

( Also, never mind that several days after the article: a) the 700B gameplan has changed and b) the whole thing is a drop in the bucket of deflationary ocean. )

Thursday, November 6, 2008

Chinese National Anthem

I sat down and listened carefully in case the e-mail someone sent to me was bogus, but it is Chinese National Anthem. I could not find the Star's techno tho.

Tuesday, November 4, 2008

Examine my most recent posts and contemplate:

Then waddaya know, this well-known poster showed up and voila, he said
"Mr. Spy, you are using recent past to predict immediate future. In my limited experience, that method does not work well in the financial markets. You might as well find out the positions of moon and Venus over the last few weeks, and identify some pattern."

Moon and Venus eh? Check it out, it's still very recent, and the blog is just right under the previous one.

Today I pull out the AUD chart and it looks like this, wow, and this is NOT good enough to some????!

Additionally, in the personal blog of that-poster-who-shan't-be-named, I wrote:
" MTGSPY said... I sensed it too, and it's because Ob-timis-bama-ism.Dont you dare short the market here, What are you thinking? The first black man to be ;resident and y'all wanna shit in the carpet? Bama Market Patrol will be in full force for a week - think Zimbabwean stock market for a while now.November 2, 2008 1:44 PM"

Well? OK, last words:


Monday, November 3, 2008

And yet this very system is STILL the ONLY system running the lending business in USA

I assure you, every red penny going to "plug" the hole, ... never mind, the system was a hole, ... would come from your pocket. Every single one of them. And so far there is no indication there is going to be any change in the system at all, let alone bringing the corruptors to justice.

Quotes from the article:

1. Brokers often tried to bribe Ms. Cooper to approve loans, she says. One offered to pay $900 to send her son to football summer boot camp if she would approve a loan that had been declined by a host of other lenders.

2. Four months later, the loan was in default, she says. The borrower had not made a single payment.

3. WaMu executives told employees they were not making enough loans and had to get their numbers up, she says.

4. “WaMu was allowing brokers to get 6 to 8 percent off one loan,”

5. “When they went to foreclose on the house, they found it was an empty lot,”

6. “The more you fight, the more you get in trouble,”

7. "“I swear 60 percent of the loans I approved I was made to,”

8. "“Killinger pocketed tens of millions of dollars from WaMu, while investors were left with worthless stock.”

and of course

9. "The lawyer representing WaMu and Mr. Killinger did not return a phone call seeking comment."