In an interview with the NY Times, President Obama talked about the pros and cons of having the man on the street take part in the world of finance. Well, I think that some of the democratization of finance is actually beneficial if properly regulated. So the fact that large numbers of people could participate […]Read more "the democratization of pain"
I know we’re not supposed to be following the daily ups and downs of the stock market, but isn’t a 7% gain in one day better than a 7% drop? Nice going, Mr. Geithner. Looks like you won’t be this week’s pinata after all. Of course, the week’s just getting started.Read more "rising tide"
We’re sending some documents via the US Postal Service to our mortgage consultant – we received a favorable quote on the refinance last Friday. More information will be made available as circumstances warrant.Read more "our boys are in the air"
We as a nation, represented by our elected officials, have decided it’s fair to tax the compensation of some employees at 90%, given certain conditions; the employees were hired to build and sell products that would support their corporation’s strategy, the strategy failed, and the employees are still needed to help the corporation restructure its […]Read more "tgif: pitchfork edition"
The AIG brouhaha hasn’t stopped – although you’re starting to see more reasonable views of how important this issue was related to other concerns that have occupied the decision makers since last Fall. But who really knows if this was right, wrong, or somewhere in between? Do I need to know about the compensation practices […]Read more "you’re asking the wrong guy"
We’ve been waiting for a good opportunity to refinance, and hoped for the 30-year fixed rate to get down to about 4.5%. Today’s moves by the Fed might help. They’re buying $300 billion in Treasury bonds, which is supposed to help lower long-term interest rates. Their last big move in this area resulted in a […]Read more "four dot five"
And Jim Cramer is now released from the media glare. This week, we have the AIG derivative traders who received very large bonuses in the spotlight. Pretty much everybody hates these guys. I’ve only seen one person mention that maybe some of them were actually smart and good at their jobs, but the company they […]Read more "ladies and gentlemen, we have our piñata"
Happy days are here again. The Dow posted a nice 379 point gain today. That leaves us just 7238 points below the Oct. 07 high.Read more "let us sing a song of cheer again"
The brick house on our street had a serious price reduction three weeks ago, (from 568K to 495K) and it is still unsold. I’m surprised – although there’s probably tons of work to do, it’s on a nice-sized lot in a good neighborhood. I guess there are even more attractively priced foreclosures out there.Read more "down we go"
Everybody (including me) has an opinion about what’s wrong with the economy and what should be done. I just ran across a post elsewhere that talked about half-measures delaying the inevitable, and that “sometimes, you get a bigger bounce from a hard landing”. Is that so? There weren’t any examples cited to back up that […]Read more "some expert tell you that?"