Wednesday Open

Boarding a red-eye back to reality.

Open thread, game on.

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234 Responses to Wednesday Open

  1. Frunk says:

    Have a safe and pleasant flight!

  2. Shore Guy says:

    “For parents who want to refine the cost-to-income analysis, a new tool is available that predicts how much money a student is likely to make after graduating. The online calculator,, will generate a 10-year range of students’ likely postgraduation income based on their test scores, high school and college attended, grades and major.”

    From the WSJ:

    DECEMBER 16, 2009

    Weighing the Value of That College Diploma

  3. Shore Guy says:

    After dealing with Hawaii, NJ will seem a dream.

  4. grim says:

    Back in Oahu, next stop Newark.

  5. Shore Guy says:

    Oahu and Newark are often linked in conversation. Being as similar as they are….

  6. Shore Guy says:

    Out from under TARP, banks are now free to fail again

    By Steven Pearlstein
    Wednesday, December 16, 2009; A13

    There’s the president of the United States, sitting in the Cabinet room at the White House, cameras rolling, talking with the heads of the country’s biggest banks, each one of which had benefited from an extraordinary government effort last year to prevent the financial system from collapsing. The purpose of the meeting is to pressure banks to make more credit available to small businesses, to restructure delinquent mortgages rather than pushing them into default and to call off their lobbyists, who have been trying to water down the administration’s proposal to reform and strengthen bank regulation.

    At the same moment, officials next door at Treasury are putting the final touches on agreements that will dramatically reduce the legal and political leverage the administration holds over those very same banks by allowing them to repay the bailout money they received.

    Hello? Is this what passes for political arm-twisting and bare-knuckle negotiation at the Obama White House? It’s bad enough that the president’s top priority of health reform was hijacked by a sanctimonious senator who can’t seem to decide which side he’s on. But in a capital where it is more important to be feared than loved, it’s even worse for a president to tear into Wall Street “fat cats” one day and then let them off their leash the next.

    As far as I can tell, top administration officials are fixated on voter rage over bank bailouts and the resulting hit to the president’s poll ratings. So they’re looking for any way to show that the economy is improving and that the government will not only get its bailout money back, but earn a profit besides.

    By rushing to cash in their chips, however, the administration not only gave up political leverage and additional profit, but took the risk that one or more of the banks may find that it can’t make it on its own.


  7. Frunk says:

    Home Swapping – Perhaps it should be called house swapping because it doesn’t include the spouse, kids and the family pet! But then again, in real estate, everything is negotiable.

  8. Kettle1 says:


    totally agree. kids were mean and rotten when I was growing up, they are kinder now because “kids will be kids” is no longer tolerated by parents, schools and a lot of their entertainment

    really? bullying seems worse today then it was back in my day, at least from what i hear from some teachers in the family.

  9. Kettle1 says:

    Re kids caartoons

    i wasnt trying to start the next cartoon revolution just found the comparison between the old cartoonns i used to watch and the current ones very interesting. Although i am not a big fan of the “B00B Tube” anyway. Adult material is much easier to access on the web ;)

  10. Essex says:

    We did the TV thing because it gave better interweb access. The whole fiber optics thing. I like the indi cinema and movie offerings…tune into the ‘news’ when I just want a good laugh.

  11. Essex says:

    So today I want to see all of you kids playing nicely with one another. We often do not choose our careers, but we CAN choose our web personas.

  12. Dissident HEHEHE says:

    Congrats to Ben Bernanke, Time’s Person of the Year, Kudo’s My Lying Sack Of Sh*t Friend!

  13. kettle1 says:

    Cant we all just get along?!?!?!

  14. fly-over says:

    We are planning to take an Alaska Cruise this summer. We want to visit Denali too, of course. I’d probably prefer the Cruise West style, but SO thinks she’d feel safer on a bigger boat. Any suggestions on how to maximize cost effective fun?

    Formerly Broken

  15. yikes says:

    BEN BERNANKE is Time’s person of the year? is this some sort of joke?

    the man’s a crook!

  16. Shore Guy says:

    “BEN BERNANKE is Time’s person of the year”

    So was Hitler. Time does not always pick a person for good reasons.

  17. Comrade Nom Deplume says:

    [13] Essex, [15] kettle

    Bite me!


    Looks like I largely missed a heated cage match yesterday. Not good for the board, or for grim’s rapidly receding hairline, guys.

  18. kettle1 says:



  19. kettle1 says:


    On a serious note. Sorry i couldnt make the event :( hope it went well

  20. freedy says:

    suprised they did not give it to corzine

  21. frank says:

    Need a job?? Move.

    With Fewer U.S. Opportunities, Home Looks Appealing to Expats
    More Foreign-Born Professionals Are Finding Better Jobs, Lower Unemployment Abroad; ‘I’ve Had Headhunters Calling’

  22. Painhrtz says:

    At least it wasn’t Obama for the second year in a row

  23. still_looking says:

    BC, 25



  24. BC Bob says:

    “So was Hitler.”


    As was The Hungarian freedom fighters.

  25. renter says:

    Dirty Jobs’ Mike Rowe on Lamb Castration, PETA, and American Labor

    This is a thoughtful speech that is well worth the time.

  26. Outofstater says:

    #16 Instead of a cruise, I’d fly into Fairbanks, rent a car, spend one day driving to and from the Arctic Circle on the haul road (it goes along the pipeline and you cross the Yukon River), then go south to Denali, spend at least two days there and try to get all the way back to Wonder Lake and the Kantishna airstrip if they let you. Stop by Talkeetna which is the jumping off spot for climbs. Then head south to Anchorage and then on to the Kenai Peninsula and Homer. On the way back, go to Valdez and take a day cruise to look at the glaciers calving and have some glacier ice in your drink. Fly home from Anchorage.

  27. lisoosh says:

    #29 -Have you seen “Ice Truckers”? That road is semi suicidal.

    For the gun enthusiasts, my kids really liked this show:

    Very interesting, even for a non-gun owner like myself.

  28. BC Bob says:

    Not sure if this was posted yesterday?

    The consensus, ANAL-ysts on the street, was 24. It came in at 2.6. Is it stag, slump or bustflation?

    We are building a bridge, exits to the 70’s and 1990 Japan. As Yogi says; “When you come to a fork in the road, take it”

    It’s gona be a long walk home.

  29. d2b says:

    That’s not really news. Not with Tiger Woods and all. Then again wait until next month when it rockets to 12.

  30. BC Bob says:

    d2b, [32],

    LOL. Then again, you are spot on.

  31. still_looking says:

    Nom, 19

    We’ve been this route before… trolls, malcontents, misogynists, misanthropes and your occasional incendiary.

    Yet here we (mostly) are anyway. Sharing ideas, educating, supporting, advising and chiding…


  32. safeashouses says:

    Looks like some of the companies the governemnt bought stakes in are now going to get tax breaks. Analysts seem to think any gains from ROI will be more then offset by losses in tax revenues.

    “The government is consciously forfeiting future tax revenues. It’s another form of assistance, maybe not as obvious as direct assistance but certainly another form,”

  33. Veto That says:

    this cant be good…

    Gulf petro-powers to launch currency in latest threat to dollar hegemony

    The Arab states of the Gulf region have agreed to launch a single currency modelled on the euro.

    The US dollar has failed. We need to delink.

  34. John says:

    Twas the night of Thanksgiving and out of the house
    Tiger Woods came a flyin’, chased by his spouse..
    She wielded a nine iron and wasn’t too merry,
    Cause a bimbo’s phone number was in his Blackberry.
    He’d been cheatin’ on Elin, and the story progressed.
    Woman after woman stepped up and confessed.
    He’d been cheatin’ with Holly, and Jaimee, and Cori,
    With Joselyn, and Kalika. The world had the story.
    From the top of the Tour to the basement of blues,
    Tiger’s sad sordid tale was all over the news.
    With hostesses, waitresses, he had lots of sex,
    When not in their pants, he was sendin’ them texts.
    Despite all his cryin’ and beggin’ and pleadin’,
    Tiger’s wife went investin’ — a new home in Sweden.
    And I heard her exclaim from her white Escalade,
    “If you’re gettin’ laid then I’m gettin’ paid.”
    She’s not pouting, in fact, she is of jolly good cheer,
    Her prenup made Christmas come early this year.

  35. Shore Guy says:


    Do you have a link to where you found that? It is priceless.

  36. safeashouses says:

    #37 john


  37. Shore Guy says:

    The latest Real Earnings news release:
    was issued today by the Bureau of Labor Statistics.

  38. BC Bob says:

    “Real average hourly earnings fell 0.5 percent from October to November, seasonally adjusted, the
    Bureau of Labor Statistics reported today. A 0.5 percent increase in the Consumer Price Index”

    Shore [41],

    From your link. Everything that dies someday comes back;

  39. BC Bob says:

    “The US dollar has failed. We need to delink”


    If crude is not priced in USD, what is the fate of the prostituted currency?

  40. safeashouses says:

    A young chinese guy runs around his city in shorts to protest the high housing costs.

  41. Sean says:

    Strange days we live in.

    While Tiger Woods is losing sponsors left and right, TMZ has learned his wife, Elin Nordegren, is “very close” to signing a deal of her own … and the company happens to be Nike’s archenemy — Puma.

    An official from Puma — the athletic wear company — has confirmed they are in “internal discussions” to sign Elin as a spokesperson for a new Swedish-inspired clothing line called Tretorn.

    Read more:

  42. Veto That says:

    BC – 43. Good point.

    The last time a move like this was attempted, it rained skuds for a year and the the troublemaker was removed from power.

    Should be interesting to see how much our foreign policy has changed since then.

  43. Sean says:

    re #46- Veto the 5th Fleet isn’t cheap.

  44. scribe says:

    BC – The Time cover … priceless

    John – The poem … worth saving

  45. JS says:

    (43) BC – Would it be safe to say that Iraq was the US’s way of hedging against that? Fat chance of them ever joining that currency.

  46. JoeR says:

    Thought that this was an interesting headline:

    “Asbury Partners taken over by bank”

  47. Shore Guy says:

    Joe R,

    This, if I recall correctly, this is the developer of what was C-8, ans is now Esperanza.

    There should be no development between Ocean Ave and Kingsley — Just leave the Empress, the Stone Pony, and the BC Hotel there and begin development on the west side of Kingsley.

  48. danzud says:

    #45 – You sure it’s not Cougar?

  49. Shore Guy says:

    Iraq was our way of hedging against oil disruptions caused by revolution in Saudi Arabia.

  50. Kettle1 says:

    Veto 36
    the ME states have been planning this for years, about a year ago they announced that this was their plan if the dollar was devalued. They also said that it will most likely have a gold component.

    That would completely F the USD.

    Time for another ME war

  51. BC Bob says:

    JS [49],

    Iraq joining? That’s not the point. There are baby steps now occuring, to displace the USD as the world’s reserve currency. In addition to Gulfo, China has initiated currency swaps with Argentina, Hong Kong, South Korea, etc.., so importers can avoid paying for goods in USD.

    The momentum is building. However, it won’t happen overnight. When it does, kiss it goodbye.

  52. Stu says:

    They decorated our office for the holidays this morning. Of the 31 personalized stockings that were displayed in December of 2008, only 23 remain in December of 2009. Green shoot I suppose.

  53. Stu says:

    Whoops. Make that 33 to 21.

  54. Veto That says:

    Kettle, Shore,

    “War protesters claimed GWB was invading Iraq for oil. That was only partly true, and their cries for peace were uninformed. US-led invasions of Iraq and Afghanistan were for oil, but not for consumption. Pre-Iraq invasion, Saddam Hussein was trading in EUROs.”

  55. Shore Guy says:


    I never really pictured you in stockings, personalized or not. Are they fishnet, or do they have the line up the back?

  56. Sean says:

    re: #59 – veto he did it because Saddam tried to off his daddy when he went to pick up his award in Kuwait.

  57. Schumpeter says:

    One day closer to oblivion.

    Thanks for the support yesterday. Sometimes the idiots who drop in here from time to time are worse than the idiots I fight with at the banks all day.

  58. Sean says:

    Schump – no offense but it takes a certain kind to put up with a curmudgeon like you.

    I did not come to your defense simply because I was enjoying the flame war

    and you didn’t need it.

  59. Shore Guy says:

    “Saddam Hussein was trading in EUROs”

    Be thatvas it may. The problem we face, is that Saudi Arabia is held together with spit, baling wire, and the secret police and the royal family ( I would not waste the word “governmant” on them) has been paying off the Wahabist leaders for years, but this is going to bite the royals in the backside as the Wahabists arerunning most schools and their essential message is that the Saud family is evil and must go. Whether Sauddi is Iran circa 1970 or 1978 is debatable. There is, nevertheless, a real and founded fear that revolution will come to Saudi Arabia and oil flow will stop for awhile and decline after it restarts.

    The only place capable of offsetting that loss is Iraq.

  60. Veto That says:

    schumpy, you are the man and i want to encourage your lunacy. if you ever feel the need to fly off the handle and slam an idiot, i’ll hold your coat while you do it but every once in a while its not a bad idea to let everyone know you are half joking so none of us have to call the authorities and have you straight jacketed. lol.

  61. Stu says:

    Shore Guy,

    These stockings were not terribly sexy, unless you are turned on by white fuzzy trim and red fake cloth. I suppose the glitter might be considered a turn on by the over 70 set, but it does not take a lot to write ‘Stu.’

  62. morpheus says:

    lots of bitching occured yesterday.

    “Is Wayne Brady gonna have to choke a bitch?”

  63. Shore Guy says:

    For all the tak of Caspian oil, that is never going to be a source for the West. The pipelines necessary are too easy for enemies of the West to knock out.

    The gulf has the benefit of being within range of planes from Deigo Garcia, and planes and missiles from ships in the Med and Indian Ocean, Turkey, and even Israel.

    We don’t get much oil from the Mideast, but Europe does (as doed Japan, if I recall correctly), and since oil is fungible, any disruption affects us.

  64. Shore Guy says:


    Sounds downright dowdy. Maybe Gary or Gator can find something for you with more pizzaz. The Victoria’s Secret chimney collection, perhaps?

  65. Painhrtz says:

    Holy crap Christians actually getting the message.

    Maybe I’ll hold off on my wish for more lions for annual gift day

    Clot you were on fire yesterday. sometimes it is better to just enjoy the warmth than get burned.

  66. Veto That says:

    there seems to be many good theories for invading iraq, most of which i have never heard before. interesting that none of them are finding wmds. Nevertheless im ok with the idea that there is good reason which cannot be shared with the public. i support that war and our troops. i also support any plans for an eventual withdrawl and any moves toward energy independance.

  67. Schumpeter says:

    veto (65)-

    Problem is, I’m not joking.

    The crooks are in Trenton, in your town council, at the bank and in DC. They most assuredly aren’t in my office.

  68. Sean says:

    re #68 – Shore – Every time you fuel up your E class you are getting product from Iraq in your tank. Hunt Oil (and others) are getting deliveries in Texas of somewhere around 2 million barrels a day of Sweet light from Iraq the last time I checked.

    There are plans to increase to 6 million barrels a day over the next three years. We need it too, Mexico is drying up.

  69. Bubble Disciple says:

    my vote for best posting from yesterday goes to #37 by Schumpeter:

    “I’m not a Realtor anymore. I’m an undertaker.”

  70. danzud says:


    Thought of you at the airport as I ordered a Knob Creek and Ginger while waiting for a plane. I wondered if you would have just asked for the bottle……

  71. Painhrtz says:

    politician is the only legally accepted form of criminal enterprise. sure there are a few good ones but the are drowned and neutered by the rest of the criminals.

    Fcuk oil. We need alternatives not for global warming but to free ourselves from subserviance to sand dwelling festering wound of oligarchies on this planet

  72. lisoosh says:

    Getting tired of “$^%$ came in lower than expected”.

    Problem is the expectations.

  73. Veto That says:

    “I’m not joking.”

    Schumpt, the basis of your arguments are intelligent, rational and sobering so i know they are real.
    but i cant support your over-the-top impulsive reactions to your arguments about killing people and hoping people die – unless you are joking. if thats the case, and i think it is, its funny and you should keep it going to make your points. if you are even 1% serious you have totally lost your sht and you should talk to someone for real.

  74. Veto That says:

    Real estate analysts predict continued gloom for Las Vegas

    A cloud of foreclosures will hang over Las Vegas for at least a couple more years and median prices will continue to fall in 2010, most likely by double digits, executives from two California-based real estate tracking firms said Tuesday.

  75. kettle1 says:


    Re Asbury park,

    Better then a daisy cutter: Detonate a tactical nuke on the sea bed about 1 mile off shore. Done correctly and you get a nice tsunami which will be much more destructive then the weapon o n its own (i.e.) the alternate plan proposed for clearing the beaches son D-day

  76. kettle1 says:


    Hurray for making the rules up as you go. Much more profitable that way

    The transition period for tighter capital requirements will probably start in 2012 or 2013, according to officials who declined to be identified because the Basel Committee on Banking Supervision’s deliberations are private. Bank stocks in Asia and Europe rallied.

    By delaying the introduction of stricter standards, regulators give banks longer to repair balance sheets weakened by $1.71 trillion of losses and writedowns during the credit crisis. The Group of 20 Nations agreed in April that banks should hold more and better quality capital to reduce risks to the financial system.

  77. kettle1 says:

    Veto 79

    You want gloom? look up any of the various long term water supply analysis for the south west and for Vegas specifically…..

  78. Painhrtz says:

    Ket – I have always been more fascinated with the water supply woes of the Southwest than their real estate bubble.

    Water riots should be interesting and that pesky endagered species act will probably get thrown out the window

  79. Veto That says:

    BAC trading at $15 screaming ‘buy me now you fool’ with a pe of only 175.
    (at least they showed earnings at all)
    if their pe were to fall in line with JPMs, their stock price would need to plunge down to $2.

  80. Schumpeter says:

    pain (83)-

    As well you should be, Mr. Gittes.

    “I have always been more fascinated with the water supply woes of the Southwest than their real estate bubble.”

  81. Schumpeter says:

    It occurs to mr that you’re in no shape to riot if you don’t have any water.

  82. grim says:

    Home sweet home.

  83. Schumpeter says:

    Vikram Pandit: “Today we announced a series of transactions to repay the $20B of TARP outstanding and terminate the asset guarantee we received from the U.S. Government.”

    Translation: I am sick of working for $1 per year.

    …courtesy of ZH

  84. kettle1 says:

    I wonder how long Lake mead intake 3 3 will last for idf the projections are even within an order of magnitude?

    SoCal, NV and AZ are all F’d in that case…

    Do people really think that upstream states like colorodo are really going to go thirsty to settle water flow agreements for desert farmers?

  85. Shore Guy says:


    No nukes for AP. First, we lose Convention hall, the Casino, and the Pony. Next, we do unnecessary damage to OG. Lastly, it would put a hurting on some regular posters who are in the area.

  86. kettle1 says:

    Lake mead intake 3

  87. kettle1 says:


    we might be able to arrange so advance notice for certain individuals. I know you have connections.

    Of course the tsunami would be due to an undersea avalanche….

  88. Shore Guy says:


    The place may have a future s a county jail. It sure looks like one.

  89. BC Bob says:


    Vikram, how about the $300B of guarantees from the Fed, Treasury and FDIC?

  90. JS says:

    Scump (88) – Barry Ritholtz has some nice commentary on that one:

    Citi TARP Repayment is a Tax Dodge

    The ongoing transfer of wealth from the middle class to the top 1% continues unabated.

    The Treasury Department, via the IRS, has made a terrible deal with Citigroup for TARP repayment: They repay $20 billion in TARP money, and in exchange we give them keep $38 billion in tax abatements.



  91. Shore Guy says:


    Were there a way to have Neptune and AP west of the tracks sink into the ground 30-40 feet, it would create a boaters’ paradise, with a nice protected bay and access to the ocean via the Shark River.

  92. kettle1 says:


    we could always go big time and see if we cant unleash La Palma with a few kilotons of force.

  93. safeashouses says:

    #89 BC

    That would make a great location for a real life Running Man. The sheeple could watch it play out on the big screen at the new stadium.

  94. kettle1 says:

    safe 100,

    Nope, Detroit would be better. its already set up. All we have to do is televise the event.,29307,1864272_1810098,00.html

  95. NJCoast says:

    Welcome back Grim.

    The boys were throwing spitballs in the classroom while you were gone. Of course the girls were perfectly behaved.

  96. Painhrtz says:

    Ket – Colorado really does throw a wrench in the works, don’t forget to add the northern Mexican states who have already been severely effected by the reduced flows of the Colorado.

    Water rights in the west are going to become a huge issue. Which will involve the US , Canada and Mexico. That is right Canada, can’t forget about the largest bodies of freshwater that border both nations. the southwest governments are already clamouring for them to be tapped.

    Resource availability will be the undoing of this nation, if economic malfeasence isn’t.

  97. John says:

    So who is watching Jersey Shore at 10am on MTV tonight? White trash guidos hang on at the Jersey Shore, what a shocker!

  98. BC Bob says:

    “The place may have a future as a county jail.”


    Big enough for corrupt Hudson County officials?

  99. still_looking says:

    Hey! Today’s DJIA graph looks like the Xanadu ski slope!

    whoo hoo!


  100. Schumpeter says:

    Pain (103)-

    We are already undone. The only question is whether we’ll be looked at as the Roman Empire, consumed by its own debauchery or the British Empire, consumed by its own intellectual torpor and sense of self-importance.

    I’m glad I’ll be dead when future generations realize what stooges we were.

    “Resource availability will be the undoing of this nation, if economic malfeasence isn’t.”

  101. d2b says:

    The one picture of Detroit reminded me of Centrailia, PA. It’s a town that was bought out by the government because of an underground fire. It’s eerie to drive through and see the streets without homes. Not worth a special trip but memorable to drive through if in the area.

    Of course conspiracy theorists believe that the government wanted to get a hold of the huge coal reserves under the town and that was the motivation behind the purchase.,_Pennsylvania

  102. d2b says:

    Green shoot of the day-

    My ex-company is out of flesh to cut and it’s time for amputations.

    Credit line has been slashed so they can’t buy inventory. Can’t sell what they don’t have so they can’t build receivables. Credit line is a percentage of receivables under 90 days old. November 2007 sales were $6M, November 2009- $1M.

    Painful to watch.

    Somebody yesterday mentioned SBA. SBA is such a pain in the a$$ that they can’t help. Loans take too long. Funny how an IB can get $30B for a pile of crap yet businesses can’t get anything.

  103. BC Bob says:

    “Funny how an IB can get $30B for a pile of crap yet businesses can’t get anything.”


    That’s why Bergabe is Time’s Person of The Year.

  104. freedy says:

    they really don’t need go to the jersey
    shore to do that POS, program.

    try NNNJ,, lodi,garfield,jersey city,

  105. Veto That says:

    Is Sovereign Debt the New Subprime?

    investors now fear certain nations will be unable to pay their debts in the year ahead.

    To varying degrees, Greece, Spain, Ukraine, Austria, Latvia, Mexico are just a handful of the nations viewed at risk of defaulting.,VMO,XLF,RSX,PEF,VEA,ILF&sec=topStories&pos=6&asset=&ccode=

  106. Schumpeter says:

    How soon can I get that Time cover with Bergabe, so I can put it on my dartboard?

  107. d2b says:

    Maybe US is the global bad bank. Shift all of the world’s bad assets onto our balance sheet and flick the switch. Countries recover from collapses all of the time.

  108. Schumpeter says:

    I’d like an omelet of Golden Egg with a side of goose, please.

  109. Schumpeter says:

    d2b (110)-

    SBA is a joke, and it’s a slow-moving, sludge-filled river of corruption, kickbacks, juicy points for banksters and generally fraudulent representations by applicants and lenders.

    Other than that, it’s a great program.

  110. Painhrtz says:

    Clot think were on the Roman route, our general pop is too stupid to understand the meaning of the word torpor, but they do have a general feeling of self importance

  111. chicagofinance says:

    Do you cut your own hair?

    Stu says:
    December 15, 2009 at 9:26 pm
    I do my own taxes, my own investing, my own travel arranging, my own gardening, my own lease writing, my own local government protesting and much of my own car repairs.

  112. BC Bob says:

    Punt and go to the bar;

    WASHINGTON (MarketWatch) — The Federal Reserve stood pat on the key points of monetary policy following its meeting Wednesday. The Fed was more upbeat about growth in its policy statement released on Wednesday. As expected, the Fed continued to signal that it will hold rates steady for a long time. The federal funds rate has been set at the historically low range of zero to 0.25% for the past year. Economic conditions “are likely to warrant exceptionally low levels of the federal funds rate for an extended period,” the Fed said. One change in the statement was that the Fed listed all of its emergency loan facilities and spelled out their expiration dates. None of the dates were new, but the Fed is choosing not to extend them further

  113. bi says:

    62#, I feel fortunate living in a society where your influence is only limited within njrer, branchburg and srs.

    >Schumpeter says:
    December 16, 2009 at 10:59 am
    One day closer to oblivion.

    Thanks for the support yesterday. Sometimes the idiots who drop in here from time to time are worse than the idiots I fight with at the banks all day.

  114. BC Bob says:

    bi [122],

    I feel fortunate that your influence is limited to biluva.

  115. John says:

    No he does not and it is all Don’t Mess with the Zohan crazy hairy down south.

    chicagofinance says:
    December 16, 2009 at 1:56 pm
    Do you cut your own hair?

    Stu says:
    December 15, 2009 at 9:26 pm
    I do my own taxes, my own investing, my own travel arranging, my own gardening, my own lease writing, my own local government protesting and much of my own car repairs.

  116. Barbara says:

    does Stu own a flowbee?

  117. Schumpeter says:

    BC (120)-

    ZIRP forever. Maybe they should just lock the overnight at 0 forever, then disband the Fed. It’d at least save us paying some salaries.

    Go to the bar? Which one? The one with sake and raw fish?

  118. Schumpeter says:

    BC (123)-

    Somebody should save #122 as an excellent reason people shouldn’t huff glue.

  119. Schumpeter says:

    “The results are a refreshing vacuum haircut.”

    Is this part of a Flowbee ad, or what Eraserhead said to Blankfein, pre-AIG payback?

  120. Schumpeter says:

    Evidently, Blankfein rejected the offer of a haircut.

  121. John says:

    God Bless Free Market Capitalism!!!

    Schumpeter says:
    December 16, 2009 at 2:48 pm
    BC (120)-

    ZIRP forever. Maybe they should just lock the overnight at 0 forever, then disband the Fed. It’d at least save us paying some salaries.

  122. John says:

    bang the long end down to resets reset, no big deal.

  123. John says:

    bang the long end down to resets reset, no big deal.

  124. Shore Guy says:

    “It’s eerie to drive through and see the streets without homes. ”

    I agree. I have don so after a tornado and it is quite unsetling.

  125. Shore Guy says:

    From Bloomberg via Google News frontpage:

    “US Senator Bernard Sanders vowed to block the confirmation of Ben S. Bernanke for a second four- year term as Federal Reserve chairman, one day before the Senate Banking Committee votes on the nomination. “

  126. Smathers says:

    Ha Ha Ha ha ha !

    Cheap at half the price. And thats a $379,000 house in Montclair as offered!

    Anybody know of a realtor in the Montclair/Glen Ridge area who actually understands the recession? I walked around with one this summer and while I laughed, he said the houses I laughed at were fairly priced. These houses are still on the market 6 months later at 20% reductions over the summer price. Whops. I just want someone who won’t lie to me and I won’t lie to them. Or are these doe-eyed fawns just too stupid to understand as a species?

  127. Shore Guy says:

    When this is a nations “founding father,” watch out:

  128. make money says:


    Are these support levels for shiny. I mean Dollar is gaining and shiny is looking pretty.

    I was hoping to buy some more sub-$1,000, now I’m thinking it may not get there..

  129. jcer says:

    Smathers, that house at 750 is worth it if it comes with the army to protect it, because you are going to get robbed if you live there.

  130. Comrade Nom Deplume says:

    [21] kettle,

    Small event due to the weather. Also, D1 and her friend managed to crush friend’s brother’s finger in a door jamb. Kind of a damper on things.

    Leave me bleeding my curb, will ya? Better bring some armor, bytch! ;-)

  131. Comrade Nom Deplume says:

    [125] barbara

    Let’s put it this way. Stu don’t need a flowbee.

  132. John says:

    Gurneys Inn time shares are on verge of bankruptcy. It takes a lot of crooks to make a waterfront beachfront hotel that was converted in the 1980s bankrupt in 2010. Time shares are going for like 100 bucks that were 10K around 5 years ago.

  133. Comrade Nom Deplume says:

    [127] clot

    I know you don’t like bi but it was a pretty good comeback.

  134. kettle1 says:

    Nom 141

    its not a party until some one is naked or someone is bleeding. You scored 1 of 2

  135. Mocha says:


    Be careful when offering an opinion concerning those involved in the re industry on this board. I’ll just leave it at that.

  136. kettle1 says:

    Say what you like about realtors, but you best not start the smack talk bout janitors!!!

  137. kettle1 says:

    nom 142

    I dont know about that. Ever see stu without a shirt?

  138. Essex says:

    Jersey is a tough nut to crack real estate wise. I like the way Clot thinks and I like the opinions expressed on this board. Not a big fan of bankers or your “typical” myopic real estate agents most of whom lost their asses in the last go-round.

  139. Shore Guy says:


    Is that some kind of device to deal with prostate issues?

  140. John says:

    Not since John Holmes died.

    Shore Guy says:
    December 16, 2009 at 4:21 pm

    Is that some kind of device to deal with prostate issues?

  141. John says:

    I thought one dollar a year was the going rate for an Indian CEO.

    Schumpeter says:
    December 16, 2009 at 12:30 pm
    Vikram Pandit: “Today we announced a series of transactions to repay the $20B of TARP outstanding and terminate the asset guarantee we received from the U.S. Government.”

    Translation: I am sick of working for $1 per year.

    …courtesy of ZH

  142. Comrade Nom Deplume says:

    [148] kettle,

    “Ever see stu without a shirt?”

    At the risk of opening myself up for a lot of sh1t, yes, I have.

  143. John says:

    This is for CHI-FI, SB/MS New Research.
    US Financials
    Charge-offs Up, But Stable Delinquency Trends in November
     Net charge-offs generally up — In November, credit card net charge-offs (NCOs)
    rose 45-80 bp month-over-month (m/m) for most major card issuers, according to
    master trust data filed yesterday. This is a reversal of the 60-70 bp NCO declines
    in September and October.
     Delinquencies relatively stable — On the positive side, delinquencies improved 5-
    20bp for Amex, Discover and JPMorgan. Delinquencies rose about 15bp for Bank
    of America and Cap One, but we think that seasonality may have driven at least
    some of the increases. While Cap One’s delinquencies rose, the increase was half
    as large as it was in September and October. Delinquencies are a leading
    indicator, so we think that card asset quality trends remained generally positive,
    particularly given seasonal headwinds.
     AXP and BAC’s NCOs declined — Amex and Bank of America again showed the
    most improvement in NCO rates, as their NCOs declined by 20bp in November.
    Amex’s NCOs fell to an industry-leading 7.6%, on a managed basis. Bank of
    America’s NCOs have declined 125bp over the last two months. But Bank of
    America’s 13% NCO rate remained over 400bp higher than most peers —
    JPMorgan, Cap One and Discover’s NCO rates were in the 8.7-9% range in
    November, according to master trust data.
     …But JPM, COF and DFS’s NCOs increased — JPMorgan, Cap One and Discover’s
    NCOs rose 45-80bp m/m in November, after declining in September and October.
    JPMorgan’s NCO rate increased by 80 bp m/m to 8.8%; this increase was second
    only to that of one large institution. JPMorgan has guided toward a 10.5%
    managed NCO rate by mid-2010.
     Amex and COF — Amex’s managed delinquencies (30+ day) were 3.9% in
    November, which was about 200bp lower than Cap One’s managed delinquency
    rate. Amex’s managed delinquencies peaked at 5.3% in February, but have
    declined or remained stable in each month since then. Amex’s managed NCO
    rate (7.6%) was also about 200bp lower than Cap One’s charge-off rate. (Cap
    One’s managed NCO rate (9.6%) is higher than the rate on its securitized portfolio
    (8.7%) primarily because the managed portfolio includes lower quality installment
     NCOs declining, but still high — Some companies appear to have reached an
    inflection point in their credit cycle, we believe. Amex’s NCOs may have peaked
    (barring a double-dip recession), while Cap One has said that it expect its NCOs to
    plateau in Q1 2010. But despite the improved asset quality trends, the industry’s
    lowest NCO rate (AXP, 7.6%) is still higher than the 6-7% peak earlier this
    decade. So we believe NCO rates are likely to remain elevated over the

  144. Essex says:

    153….Uh. OK.

  145. John says:

    Tiger Woods’s admitted infidelity has landed his mug on the front page of the New York Post for 17 straight days as of yesterday.

    I can’t wait to see him make 18!

  146. Comrade Nom Deplume says:

    [155] essex

    That’s it? I leave a fat, leaking curveball hanging out over the plate and you check swing?

    BTW, it was poolside.

  147. John says:

    Tiger Woods’s Wife to Leave Him, People Magazine Says (Update1) Share Business ExchangeTwitterFacebook| Email | Print | A A A
    By Brad Skillman

    Dec. 16 (Bloomberg) — Tiger Woods’s wife Elin Nordegren plans to leave him, People magazine reported on its Web site, citing a source close to the golfer’s wife.

    Another unidentified source told the magazine that “she’s made up her mind.” Photos this week showed Nordegren without her wedding ring, People said.

    Woods, 33, said Dec. 11 that he was taking an indefinite break from professional golf, citing infidelity and the need to focus on being a “better husband, father and person.” Woods is the winner of 14 major titles.

    Nordegren has met with laywers to renegotiate their prenuptial agreement, People said, citing a “high-profile Florida divorce attorney.”

  148. Outofstater says:

    #30 It’s been a few years, but the haul road was fine when I was on it – nice hard packed gravel and no traffic. No people or sign of civilization for most of it either, except for the pipeline. And it was summer too. We packed a cooler and took a Jeep with a 3 year old and a one month old and were fine.

  149. Sean says:

    Wonderful, just wonderful, now we have a syndrome named after him.

    Tiger Woods Syndrome: An epidemic sweeping the nation — in which paranoid wives constantly worry that their “nice guy” husbands are secretly cheating on them every time they leave the house …

  150. chicagofinance says:

    ? ok fine…..

    Comrade Nom Deplume says:
    December 16, 2009 at 4:47 pm
    [155] essex That’s it? I leave a fat, leaking curveball hanging out over the plate and you check swing? BTW, it was poolside.

    please purchase for immediate use…..

  151. grim says:

    New thread! Up!

  152. Smathers says:

    Mocha, I understand your position but how about a list of people who are in touch with the economic realities and are willing to help bargain and know where to go to find good deals. Such a realtor will get MY recommendation if I work with them and they help me, for sure.

  153. Gabby Sheen says:

    Thanks so much for this fantastic article! I don’t know about the rest of you, I can’t wait to skate my ass off once I get my <A href=”

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