$40 Oil. Unbelievable. Never thought I would see the day. Bi was right. Any chance it hits a 30 handle?

maybe they should have invested in shorts instead…

sl

Friday December 5, 5:46 am ET
By Frank Bass, Associated Press Writer

AP IMPACT: Bailout’s option to buy bank stocks not attractive option due to plunging stocks

Stock intended to eventually earn taxpayers a profit as part of the Bush administration’s massive bank bailout has lost a third of its value — about $9 billion — in barely one month, according to an Associated Press analysis. Shares in virtually every bank that received federal money have remained below the prices the government negotiated.

Most of the Treasury Department’s investments since late October have been in preferred bank stocks, more than $180 billion worth, with investments in giants like Citigroup and JPMorgan Chase, and many small community banks. But the government also negotiated options to buy up to 1.2 billion shares of common bank stock that was valued at $27 billion.

The Treasury Department said it did not expect these common stock options to be profitable immediately and negotiated them so taxpayers could share in the wealth if the bank stocks recover.

Now, however, the value of that common stock is worth less than $18 billion. If the government exercised all its warrants to purchase the stock today, it would lose money on 51 of its 53 agreements. Taxpayers would be out $9.1 billion.

Please post when she has decided to take her clothes off for a magazine.

Condolences on your loss.

May I suggest that DH look into two things:

1) declining to act as executor – no law compels any person to act in this capacity

2) disclaiming the inheritance of the house – no heir can be forced to inherit property

I looked at prices in Somerville/Branchburg/Bound Brook/Bridgewater/Raritan area and I finally see significant declines in “starter home segment”…

SO I guess train towns are next?

I wouldn’t call those train towns.

I live in P-way, along the RARV abt equidistant between Dunellen and Bound Brook; it’s never been my impression that RARV towns this far out west were seeing any kind of ‘train town’ premium. The RARV is just not very useful out here, too far and too slow. Most of the people I know who live in Bridgewater and commute to NYC take the bus, for example.

JMHO.

BC,

I can tell you, rents are coming down in NYC- very hard, very fast. We looked at moving into the city in June/Jul, ultimately declined. Downtown bldgs were offering some incentives, nowhere else- but it still wasn’t worth the coin vs. our NJ place.

Now, all of NYC is getting hit. Had a friend who just moved back from UK, looking at condo rentals, all the brokers for properties said “please just make an offer” – so he did. On a 2bdrm, came in $1500/mo less, told the owner to pay full broker fee & I think might have gotten 1 month free. Done deal, no hesitation. I was shocked.

In viewing apts online, I now see nice 2bdrms in some cases going for 1bdrm prices from early summer.

Yeah, it’s different here alright. We’re levered to Wall St up to the eyeballs.

Store Calendar
Meet Padma Lakshmi

Sunday, December 7th
3:00 p.m. | Details

The award-winning cookbook author and host of Bravo’s highly acclaimed Top Chef reads and prepares recipes from her latest collection Tangy Tart Hot & Sweet followed by a personal book signing of her cookbook.

* Padma Lakshmi will only be signing copies of the Tangy Tart Hot & Sweet cookbook purchased at the Whole Foods Market. Proof of purchase required.

For some strange reason nobody wants to buy a condo in bazillion story building in the middle of desert in Muslim country for 10000000$??? In a country with no developed industry and quickly running out resources???

Who would think speculators played any role in that healthy market!!??

John Says:
December 4th, 2008 at 1:39 pm

Actually I live in a white trash blue collar neighborhood. They are all teachers, cops, firemen, nurses etc with lots of dual incomes.

sorry, had to chuckle at lumping “white trash” and “blue collar” and teachers and dual incomes in the same group.