And so it begins…

Posted on June 1, 2012 by grim

Hat tip PGC

This entry was posted in Economics, Housing Bubble, North Jersey Real Estate. Bookmark the permalink.

294 Responses to And so it begins…

  1. gary says:
    June 1, 2012 at 6:57 am

    And so it begins…

    The general consensus on this blog has been deadly accurate since day one.

  2. serenity now says:
    June 1, 2012 at 6:59 am

    Something tells me that the town of Closter may have a
    problem with this.

  3. grim says:
    June 1, 2012 at 7:03 am

    How many times does the ad say Blue Ribbon?

  4. There Went Meat says:
    June 1, 2012 at 7:08 am

    Blue Ribbon exurban slum.

  5. gary says:
    June 1, 2012 at 7:08 am

    Does anyone feel like revising their bottom call on housing in our area. Yeah, and I guess the term “blue ribbon” certainly takes on a new meaning.

  6. gary says:
    June 1, 2012 at 7:10 am

    serenity [2],

    Think of it as opportunity to introduce diversity to the town. ;)

  7. freedy says:
    June 1, 2012 at 7:10 am

    Closter is blue ribbon. Close to the City and Alpine. Great schools and of course a tax
    bill to go with it.

    Great shopping,the hub of the Northern Valley. Kmart and more

  8. EJG says:
    June 1, 2012 at 7:17 am

    This house has big problem. sits on .05 acres. Basement is bigger than the lot ….

  9. grim says:
    June 1, 2012 at 7:20 am

    Live royal my friends, live royal.

  10. Comrade Nom Deplume in The District says:
    June 1, 2012 at 7:21 am

    Reminds me of a house in the brig that I am glad I didn’t buy

  11. Mikeinwaiting says:
    June 1, 2012 at 7:26 am

    Well here it is the long called for Mcmansion piece meal rental. Wow just wow, break out the bubbly boys & girls right again.

  12. Young Buck says:
    June 1, 2012 at 7:29 am

    Elizabeth BOE update

    State grand jury hands up indictment for Elizabeth board of education president

    Ted Sherman/The Star-Ledger 05/31/2012 9:15

    TRENTON — The president of the Elizabeth Board of Education understated her household income by as much as $100,000 to obtain free school lunch for her children, a state grand jury has charged.

    Marie L. Munn, who was arrested along with two others in September after a series of stories in The Star-Ledger about abuses in the federally funded lunch program in Elizabeth, was accused in the indictment of lying on applications for her two children to obtain free or reduced lunch over a five-year period, receiving $4,549 in benefits to which they were not entitled.

    The state attorney general’s office said Munn, 47, “grossly understated her household income” to qualify for the program by as much as $100,000 in 2008-09, and by $94,000 or more in three of the other years.

    “You would think that the school board president of an Abbott district would carefully guard any resources dedicated to helping disadvantaged schoolchildren,” Attorney General Jeffrey Chiesa said. “But this indictment charges that Marie Munn shamelessly stole $4,549 from the federally funded free lunch program by filing fraudulent applications for her own children.”

    The two-count indictment, which charges her with theft by deception and tampering with public records, was handed up Wednesday and announced yesterday.

    One of the largest and poorest urban schools districts in the state — known as an “Abbott district” — Elizabeth’s school budget is largely subsidized by state and federal funding.

    Munn’s attorney did not return calls for comment.

    In a statement, the Elizabeth school district said it has been closely cooperating with law enforcement.

    “The district has also taken affirmative actions in an attempt to reduce the potential for fraudulent applications in the school lunch program as well as determining whether personal information on parents’ applications — which are confidential under federal law, had been illegally released to the public,” the district said.

    The statement also said the state Department of Agriculture found the school district “appropriately reviewed Ms. Munn’s application” under state and federal regulations.

    “We will continue to cooperate with authorities on this matter and will continue to studiously follow all regulations for auditing food lunch applications, taking whatever steps necessary to reduce fraud,” the district said.

    Before her arrest last year, Munn acknowledged her family did not qualify for the program, admitting she had filled out the applications for the lunch program without including her husband’s salary.

    Financial disclosure statements she filed last year showed she was employed as a human resources administrator for a nonprofit organization. Her husband was employed by the New York Times and was also the owner and head coach of a semi-pro football team.

    Munn said she had been unaware her children were receiving free meals at school until she was contacted by a reporter for The Star-Ledger, blaming the oversight on misunderstandings and financial complications. She later said she repaid the district $2,682 — an amount calculated by the board to cover the cost of the meals her children had received.

    While the amount involved was small, officials say the free lunches had a larger impact on the district’s revenues. State and federal school aid is calculated in part based on the number of families that participate in the lunch program.

    Earlier this year, Gov. Chris Christie, citing high levels of fraud and abuse in the school lunch program, said he would name a task force to examine how school aid is distributed in New Jersey.

    The National School Lunch Program offers state and federal reimbursements to provide free or reduced-cost breakfast and lunch to children of families who meet income-eligibility requirements. State and federal officials, however, say there is scant auditing to determine if those receiving benefits are eligible.

    The indictment against Munn does not add any new charges to the initial criminal complaint, but will allow the prosecution of the case to proceed to trial.

    The others initially arrested with Munn in September in connection with falsifying school lunch program applications — Peter W. Abitanto, 43, of Elizabeth, the husband of the head custodian for the Elizabeth school district, and Angela Lucio, 36, the ex-wife of a principal in the district — have yet to be indicted. Both were also charged with third-degree theft by deception and tampering with public records. An official for the attorney general’s office said their cases are still pending.

    If found guilty, Munn faces three to five years in state prison and a fine of up to $15,000.

    http://mobile.nj.com/advnj/pm_29221/contentdetail.htm?contentguid=yjwBPFl3

  13. Mikeinwaiting says:
    June 1, 2012 at 7:31 am

    Yes , yes it is all important to have a blue ribbon school district when you live in a rented portion of a house with strangers. I am sure town of Closter will go apesh*t on them once found out.

  14. Brian says:
    June 1, 2012 at 7:32 am

    Anyone commuting on Route 80 from northwest NJ today be sure to swing by the westbound lanes and help in the cleanup effort by dipping your egg sandwich….

    Cheese truck overturns on Rt. 80 in New Jersey
    http://abclocal.go.com/wabc/story?section=news/local/new_jersey&id=8684927&rss=rss-wabc-article-8684927

    God what a mess

  15. Young Buck says:
    June 1, 2012 at 7:33 am

    “…as well as determining whether personal information on parents’ applications — which are confidential under federal law, had been illegally released to the public,” the district said.”

    Translation: we’re looking for the whistleblower!

  16. serenity now says:
    June 1, 2012 at 7:35 am

    Gary #6- Diversity as in a Mexican hat dance and a pinata on the
    front lawn. I am sure the neighbors will appreciate the
    cultural enrichment.

  17. grim says:
    June 1, 2012 at 7:36 am

    I’m going to spend some time down in Plainfield to better understand how to efficiently slice and dice a grand manse. Could be a good business model.

  18. Brian says:
    June 1, 2012 at 7:37 am

    Do people really say Blue Ribbon? I just thought that was some sarcastic stuff you guys made up to mock them. Sounds so corny.

  20. grim says:
    June 1, 2012 at 7:39 am

    Damn I love this place.

  22. grim says:
    June 1, 2012 at 7:42 am

    Might be easier for the owner of a Sushi or Buffet joint to store their illegal slave labor in this place instead of having to bus them to and from tenements in queens.

  23. freedy says:
    June 1, 2012 at 7:43 am

    http://online.wsj.com/article/SB10001424052702303640104577438662957304408.html?mod=googlenews_wsj

    Need a home loan ? No problem apply quickly as the bank may be shut down

  24. Juice Box says:
    June 1, 2012 at 7:50 am

    Only a grand or two per room? That won’t cover the taxes and mortgage will it?Next up is a natural gas explosion for that house.

  25. grim says:
    June 1, 2012 at 7:54 am

    Massage joint, grow house, options are unlimited really.

  26. freedy says:
    June 1, 2012 at 7:55 am

    Would someone call the Building Inspector in Closter to point this out.

    Civic duty calls. After all we want to keep the Blue Ribbon status

  27. Brian says:
    June 1, 2012 at 7:56 am

    Cool Sounds like Closter is turning into Newton. They split up old mansions here all the time and make them into apartments. Most of the mansions here are hundreds of years old though. There’s one up the block from me built in the late 1800’s that they chopped up. Put fire escapes all around it, now it’s pretty much an apartment building. Zillow still says it’s a 4000 sq foot single family home. Funny.

    Don’t be afraid citizens of Closter, it’s not so bad.

    17.grim says:
    June 1, 2012 at 7:36 am
    I’m going to spend some time down in Plainfield to better understand how to efficiently slice and dice a grand manse. Could be a good business model.

  28. gary says:
    June 1, 2012 at 7:57 am

    freedy [26],

    Agreed. We must not compromise the children!

  29. Juice Box says:
    June 1, 2012 at 7:59 am

    Reminds me of this woman i once dated in Morristown, she lived in one
    Of those chopped.up mansions.

  30. gary says:
    June 1, 2012 at 7:59 am

    Wow… do you realize this almost instantaneously transforms Closter to Bergenfield status?

  31. grim says:
    June 1, 2012 at 8:08 am

    No ratting folks, bad karma.

  33. grim says:
    June 1, 2012 at 8:11 am

    27 – Slap on some vinyl siding, add half a dozen sets of pressure treated stairs up to the second level, a few flood lights, turn the side yard into a gravel covered parking lot.

    Amazing how few steps it takes to turn a beautiful old Victorian into an eyesore.

    Double bonus points for siding the front slope of a mansard roof.

  34. Mikeinwaiting says:
    June 1, 2012 at 8:15 am

    grim 31 never lets get a few more MultiMcs filled up first, then the schools will do the work for us ,”how many unrelated kids do we have coming from that address”.

  35. Mikeinwaiting says:
    June 1, 2012 at 8:17 am

    Multi Mcs the tip of the iceberg, I can only wonder how big it is under the water line

  36. But, but, but is Alpine says:
    June 1, 2012 at 8:17 am

    In the mid -90’s I was an EMT, and worked part time for a bit for an ambulance company that had the Englewood Hospital contract.

    Remember one assignment, was taking this old bed-ridden asian lady back home to her Alpine house. We followed the family in their Benz. Beautiful house, we take her in the house and barely no furniture. We take her to her room and her bed was an old mattress on the floor.

    Alpine always had a bit of pretentious sickness.

  37. freedy says:
    June 1, 2012 at 8:23 am

    Wait a minute Closter has a great mayor and town council , they will handle this.
    We must Keep Blue Ribbon Status. Can we get another nail salon?

  38. grim says:
    June 1, 2012 at 8:23 am

    Was in a $600k house a few weeks back that was similar to what you describe. Very little furniture, mattresses on floors, kids toys strewn everywhere (including bicycles which look to have gouged out large areas of the hardwood floor), outdoor patio furniture in the dining room, a couch or two and some folding chairs around, a crazy 60″ flat screen on top of a milk crate, two new BMWs in the garage, closet full of $1000 shoes (meticulous stacks of Louboutin boxes, the neatest room in the house).

    3b would have been proud.

  39. freedy says:
    June 1, 2012 at 8:24 am

    Stand by for the employment numbers

  40. All Hype says:
    June 1, 2012 at 8:25 am

    Hey, look on the bright side. The person that rents the master suite will have their own little studio apartment. Just throw in a dorm fridge and a hot plate and you will be on your way to cookimg ramen noodles on a daily basis.

    Living Large!

  41. freedy says:
    June 1, 2012 at 8:28 am

    Many BBQ’s in town. We deliver

  43. grim says:
    June 1, 2012 at 8:31 am

    Unemployment ticks back up to 8.2%, 69k jobs added, economists cry

  44. gary says:
    June 1, 2012 at 8:31 am

    69,000 jobs
    UE – 8.2%

    Yes… We… Can…

  45. freedy says:
    June 1, 2012 at 8:31 am

    Please call your broker with sell tickets

  46. grim says:
    June 1, 2012 at 8:34 am

    45 – Dumped all my index funds the first day in May.

  47. All Hype says:
    June 1, 2012 at 8:38 am

    10 year at 1.46.

  48. Painhrtz - I ain't dead yet says:
    June 1, 2012 at 8:39 am

    Drive through dover everyday on my way to work I truly feel for those old victorians which are illegal boarding houses now. they must have looked glorious in their heyday. Used to think the same about Passaic Park.

    Hey don’t bag on the moron they are being financially flexible : ) At least they are covering a 3rd of their taxes and the Unicorns aren’t insulted.

  49. Brian says:
    June 1, 2012 at 8:40 am

    You’d be surprised it doesn’t actually look that bad. The apartments look kind of charming. One tenant even has a little vegtable garden out back. The living room of the mansion has a huge fireplace and they made it into a little common area with couches etc. I see the tenants in there reading the mornig paper in the winter while the landlord’s crew is out shoveling the snow….

    You’re right though, some of the rentals where they just split up a once beautiful house and cover it in vinyl siding nearer to Spring street are undoubtely polished turds.

    33.grim says:
    June 1, 2012 at 8:11 am
    27 – Slap on some vinyl siding, add half a dozen sets of pressure treated stairs up to the second level, a few flood lights, turn the side yard into a gravel covered parking lot.

    Amazing how few steps it takes to turn a beautiful old Victorian into an eyesore.

    Double bonus points for siding the front slope of a mansard roof.

  50. grim says:
    June 1, 2012 at 8:40 am

    I’d refi again at 3.5%

  51. Anon E. Moose says:
    June 1, 2012 at 8:42 am

    Grim [46];

    Sell in May and go away?

  52. Dan in debt says:
    June 1, 2012 at 8:43 am

    At 830, I went to the BLS. Let’s just say, yuck and that was a nice April downward revision. I’m surprised Obama/Holder didn’t threaten to put those guys in jail for revising that number down.

  53. chicagofinance says:
    June 1, 2012 at 8:44 am

    Crown Royal

    grim says:
    June 1, 2012 at 7:20 am
    Live royal my friends, live royal.

  54. 3B says:
    June 1, 2012 at 8:45 am

    #18 Brian: It is Blue Ribbon, some of us say Blue Ribbony.

  55. grim says:
    June 1, 2012 at 8:46 am

    Nothing positive here, these numbers blow chunks.

  56. Shore Guy says:
    June 1, 2012 at 8:48 am

    Gary,

    Do the press reports say “unexpectedly” added only 69,000 jobs or that the UE rate “unexpectedly”rose to 8.2%

  57. Shore Guy says:
    June 1, 2012 at 8:49 am

    All this news about continued economic stress is so, well, unexpected.

  58. chicagofinance says:
    June 1, 2012 at 8:51 am

    The End Is Nigh (Daily NJ RE Report Zombie Edition):

    Authorities: Md. college student says he ate man’s heart, part of brain

    BALTIMORE — A 21-year-old college student accused of killing a housemate told police he ate the victim’s heart and part of his brain after he died.

    Alexander Kinyua hid the head and hands of the dead man in his family’s basement laundry room in a suburb of Baltimore, according to the Harford County Sheriff’s Office. Kinyua, a student at Morgan State University, was charged earlier in May in another attack in which the victim was brutally beaten but survived.

    Kinyua, a Kenya native, is charged with first-degree murder and other charges in the death of 37-year-old Kujoe Bonsafo Agyei-Kodie. He was ordered held on no bail.

    His public defender did not return a call seeking comment, and a voicemail left at Kinyua’s home was not returned.

    Sheriff’s spokeswoman Monica Worrell said the chief medical examiner had not yet officially identified the body parts, but that authorities believe they are those of Kodie, who was reported missing May 25. His cellphone and wallet were left in the home and police were initially told he had gone for a run.

    On Tuesday, Kinyua’s father, Antony Kinyua, called detectives and reported that another son, Jarrod, found what he thought were human remains in the house where they all lived in Joppatowne.

    Jarrod found two metal tins, which held a human head and two human hands. Police say Jarrod confronted his brother, who said the remains were animals.

    According to charging documents, Jarrod and his father went to the basement, where Jarrod “observed that the items he observed were gone and Alex Kinyua was cleaning the container he observed them in.”

    Detectives obtained a search warrant and found the head and hands in the house. Police say Alexander Kinyua admitted to killing Kodie by cutting him up with a knife and eating his heart and part of his brain.

    Authorities say Kinyua told detectives the rest of the body could be found in a trash container at the Town Baptist Church in Harford County where they discovered remains.

    Kinyua was arrested May 20 and released on $220,000 bail.

    Morgan officials say Kinyua studied electrical engineering and was also in the ROTC.

  59. 3B says:
    June 1, 2012 at 8:51 am

    #38grim: You see I told you this goes on!!!

  60. Shore Guy says:
    June 1, 2012 at 8:51 am

    “Unemployment ticks back up to 8.2%, 69k jobs added, economists cry”

    David Axelrod cries the most.

  61. Painhrtz - I ain't dead yet says:
    June 1, 2012 at 8:53 am

    The unemployment numbers unexpectedly rose to 8.2% since some folks who had unexpectedly been unemployed for 5 years decided to unexpectedly start looking for work again but were unexpectedly unsuccessful

  63. grim says:
    June 1, 2012 at 8:59 am

    Persuasion techniques 201 – Appeal to emotion

  64. WickedOrange says:
    June 1, 2012 at 8:59 am

    when lots of big homes get chopped up into multis, it’s difficult to undo. Just ask Asbury Park.

  65. Mikeinwaiting says:
    June 1, 2012 at 9:02 am

    Friday, June 1, 8:30 AM May Nonfarm Payrolls: +69K vs. consensus of +150K, prior 79K (revised). Unemployment 8.2% vs 8.1% expected, 8.1% previous.

  66. grim says:
    June 1, 2012 at 9:02 am

    64 – IMHO – Banning overnight on-street parking is probably the single most important action to prevent this kind of behavior.

  67. All Hype says:
    June 1, 2012 at 9:02 am

    Oh Man, the DAX is getting crushed, down 3.9%.

  68. Shore Guy says:
    June 1, 2012 at 9:03 am

    Nice alternative to the airlines for critical business travel:

    http://flexjet25.com/

  69. Mikeinwaiting says:
    June 1, 2012 at 9:04 am

    Was taking daughter to school missed the 830 jobs #, come home my god what a blood bath, unexpected of course.

  70. Brian says:
    June 1, 2012 at 9:06 am

    Funny you say that, there’s a new law they enacted here…I wasn’t aware of it until I saw the ticket on my windshield.

    66.grim says:
    June 1, 2012 at 9:02 am
    64 – IMHO – Banning overnight on-street parking is probably the single most important action to prevent this kind of behavior.

  71. gary says:
    June 1, 2012 at 9:08 am

    And I’m still waiting for my f*cking pony!

  72. Painhrtz - I ain't dead yet says:
    June 1, 2012 at 9:08 am

    Grim or what those lower Bergen towns did and get mandated parking passes. folks just adjusted got one big car and had their landlord get them a parking pass as a “relative”

    We used to get multiple offers to rent our driveway for 150 bucks a month. Seriously thought about it a couple of times

  74. Mikeinwaiting says:
    June 1, 2012 at 9:13 am

    How would you like yourQE3 served. Clear the runway priority B-52 flight on the tarmac warming up engines, BBBBennie and the jets.

  75. The Original NJ ExPat says:
    June 1, 2012 at 9:14 am

    Hmmm…If I rent out the MBR and turn it into a daycare center, how many kids do you think I could take on per day? This could be some good money maker.

  76. 3B says:
    June 1, 2012 at 9:14 am

    #65 Mike: March and April numbers both revised lower too.

  77. Shore Guy says:
    June 1, 2012 at 9:15 am

    “unexpected of course.”

    Bad news always is.

  78. gary says:
    June 1, 2012 at 9:16 am

    UE6 is around 15%. Is this all Romney’s fault now? BTW, I had a chance to see Santelli on CNBC; he suggested we need another round of QE! LOL! The sarcasm was so thick, a chain saw wouldn’t cut through it!

  79. gary says:
    June 1, 2012 at 9:17 am

    Quick! Someone get Oblammy a tall boy and a pack of Newports to calm his nerves!

  80. Shore Guy says:
    June 1, 2012 at 9:18 am

    If the UE number ticks up between now and the Democratic Convention, it could make things interesting. Maybe this line from Monty Python and the Holy Grail will become Mitt’s campaign slogan: I’m not dead yet.

  81. Painhrtz - I ain't dead yet says:
    June 1, 2012 at 9:18 am

    Gary your promised pony was unexpectedly eaten by the residents of a multi family Mcmansion in Alpine

    Can we intrest you in an invisible pink unicorn instead?

  82. Shore Guy says:
    June 1, 2012 at 9:21 am

    http://www.youtube.com/watch?v=grbSQ6O6kbs

    Bring out your dead. Bring out your dead.

  83. Mikeinwaiting says:
    June 1, 2012 at 9:22 am

    3b 76 yes I unexpectedly forgot to mention those, the boys on Seeking Alpha are ripping “O” a new one. Not unexpected!
    Gary 78 Gotta go get the vid of that, Santelli is great fun to watch.

  84. The Original NJ ExPat says:
    June 1, 2012 at 9:22 am

    How large does the population of a could-de-sac have to be before you can successfully lobby for a NJ Transit bus stop to be added there?

  85. The Original NJ ExPat says:
    June 1, 2012 at 9:23 am

    cul de sac. Jeez, I’m channeling JJ’s spelling skillz.

  86. gary says:
    June 1, 2012 at 9:24 am

    Shore [80],

    If the UE number ticks up between now and the Democratic Convention, it could make things interesting.

    How the f*ck this mope in the White House still has a chance to get re-elected is beyond me. But, I guess one can never underestimate the (ahem…) intelligence of the Amerikan Muppet species.

  87. Mikeinwaiting says:
    June 1, 2012 at 9:25 am

    Pain 81 multi family Mcmansion= Multi Mc figure we will be talking more about these UNEXPECTED phenomena so hence the short.

  88. freedy says:
    June 1, 2012 at 9:26 am

    Gary, just swing by the paramus malls today. What unemployment ? Things are fine.
    Retail sales good. Stop at Starbucks for your 4 buck drink

  89. Mikeinwaiting says:
    June 1, 2012 at 9:28 am

    Expat unfortunately I have JJ’s spelling skills, not to worry all good.
    Where the F**k is JJ anyway.

  90. The Original NJ ExPat says:
    June 1, 2012 at 9:29 am

    Don’t the unemployed know that looking for a job makes our president look bad? Try being patriotic, get back on the couch and stay there until at least after the election.

    The unemployment numbers unexpectedly rose to 8.2% since some folks who had unexpectedly been unemployed for 5 years decided to unexpectedly start looking for work again but were unexpectedly unsuccessful

  91. The Original NJ ExPat says:
    June 1, 2012 at 9:34 am

    Banning overnight on-street parking also spurs economic activity. Lots of paving jobs created as front lawns are converted to black top asphalt.

    64 – IMHO – Banning overnight on-street parking is probably the single most important action to prevent this kind of behavior.

  92. Mike says:
    June 1, 2012 at 9:36 am

    Don’t miss this once in a life time opportunity to buy FB

  93. 3B says:
    June 1, 2012 at 9:36 am

    #78 gary: Are you and I going hosue shopping in “The Valley” this weekend?

  94. The Original NJ ExPat says:
    June 1, 2012 at 9:39 am

    Bernanke to his wife this morning, “Honey, make sure my blue suit and QE tie is back from the cleaners, OK?”

  95. freedy says:
    June 1, 2012 at 9:39 am

    “Bernanke and Yellen are at a tattoo parlor getting matching QE ∞ ink on their foreheads after that jobs number.” Quote of the morning

  96. Shore Guy says:
    June 1, 2012 at 9:40 am

    “How the f*ck this mope in the White House still has a chance to get re-elected is beyond me. ”

    Well, everything that has gone well is because of his leadership and everything that is wrong is because of Bush. Combine that with most people following twitter feeds from celebrities, focused on sports, or wrapped up in dancing with used-to-be stars or Who wants to be America’s next Pop Star and one has a recipe for a bad president getting reelected due to inertia.

    Besides, as someone I know said to me the other day, Obama has nearly four-years experience in the job and Romney has zero, thus B.O. is the logical choice; who do you want in office someone who has experience or someone without any?

  97. prtraders2000 says:
    June 1, 2012 at 9:40 am

    I was talking to our office cleaning woman last night. Sweet lady of about 70 or so. She asked what I thought of Facebook. I told her that it was a disaster of an ipo blah blah blah. She admitted to putting $4,000 into it. She never invests and her broker tried to talk her out of it. She claimed she got caught up in the “hoopla” and just thought that young smart guy was going to make her some money. Then she started crying.

  98. Neanderthal Economist says:
    June 1, 2012 at 9:40 am

    10yr at 1.45%.

  99. WickedOrange says:
    June 1, 2012 at 9:40 am

    Random Fact: Round trip, Tenafly to Red Bank is now $15.80 in tolls via turnpike/parkway. God Bless NJ.

  100. Juice Box says:
    June 1, 2012 at 9:44 am

    Are we back to the good old days of 2008-2009 with weekly 300 point swings in the indexes and the gold trade was a sure thing?

    I don’t think so, few more innings to play out. I will be on the beach all summer..

    http://finance.yahoo.com/echarts?s=^VIX+Interactive#symbol=^vix;range=5y;compare=;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;

  101. Jill says:
    June 1, 2012 at 9:45 am

    I can’t wait till you guys get the Republican president Willard Rmoney you’ve all been dreaming of and you still aren’t in the Rich guys Club. I will read the posts here then and laugh at you all.

  102. The Original NJ ExPat says:
    June 1, 2012 at 9:46 am

    Plus BO really likes this job, that’s obvious. It’s the first job he’s ever held for 4 years. New personal best.

    Besides, as someone I know said to me the other day, Obama has nearly four-years experience in the job and Romney has zero, thus B.O. is the logical choice; who do you want in office someone who has experience or someone without any?

  103. Brian says:
    June 1, 2012 at 9:46 am

    Bloomberg Breaking News:
    Dow Jones Industrial Average ERASES GAIN FOR THE YEAR

    Where’s meat? Can I get a “another day in hell” please?

  104. Mikeinwaiting says:
    June 1, 2012 at 9:49 am

    Take about ugly opens, DAX getting crushed also.

  105. Shore Guy says:
    June 1, 2012 at 9:49 am

    Wicked,

    That is only about 13 cents per mile, a mere 24% of the IRS mileage reimbursement rate or, at 22 MPG and gas at $3.30/gal, 88% of the cost of gas to go the 120 miles round trip.

  106. seif says:
    June 1, 2012 at 9:49 am

    99 – what street did you buy on in The Fly?

  107. The Original NJ ExPat says:
    June 1, 2012 at 9:50 am

    FB is down today? I thought it was an inverse ETF. Market inefficiencies I guess.

  108. Mikeinwaiting says:
    June 1, 2012 at 9:50 am

    Jill 101 you have a better option,”O” is off the table.

  109. Brian says:
    June 1, 2012 at 9:50 am

    Since the economy is still in the dumper, can I at least get some cheap gasoline this summer please? Sheesh.

  110. seif says:
    June 1, 2012 at 9:53 am

    97 – tell your cleaning lady that if she made an investment to stop looking at it day to day. if she was looking for a quick profit…well, 70 yr old cleaning ladies should not be day trading.

  111. The Original NJ ExPat says:
    June 1, 2012 at 9:56 am

    97 – At least she wrote some covered calls this week, right?

  112. Juice Box says:
    June 1, 2012 at 10:00 am

    Re: O v Mittens. Not that I am voting for either, but neither have any kind of plan to fix the our now massive output gap, the deficit, the trade imbalances and stop the global recession we are currently in. The best we will get is more of the same over the next few years as things play out in the global economy. We will probably see lots of printing and stimulus coordinated globally to the tune of trillions as we continue to try for reflation of the global economies. There is enough debt in the global system now to choke a whale, until it’s gone we are still the pigs headed for slaughter.

  113. seif says:
    June 1, 2012 at 10:00 am

    97 – she has implemented a very sophisticated straddle…over her toilet as she throws up about the money she “unexpectedly” lost as a 70 yr old day trading cleaning lady.

  114. Juice Box says:
    June 1, 2012 at 10:01 am

    Most 70 year old ladies lose their savings to the casinos. At least she tried something different.

  115. Painhrtz - I ain't dead yet says:
    June 1, 2012 at 10:02 am

    Jill it is not so much a matter of wanting Romney or not wanting il Duce It is Schadenfreude on both parties. Everyone here with few exceptions realize the homogeneity of both parties. Only difference between the two one looks like he should be president in a bad sci fi movie the other has too much melanin and a funny sounding name for the mouthbreathers who get to vote.

    The problem with fearless leader is he went to far left in his first term miscalculating the population while showing his true colors as a race hustler/ chicago style politician. If ding dong had any political experience he would have led from the center first term. Accepted responsibilty for the economy and worked diligently to fix it. Nobody would have faulted him with these headwinds. would have cruised to a second term against a weak empty suit and then could have gone all radical. Being the neophyte that he is now he and Wilalrd are in a life and death struggle for who is the most likeable of the unlikable.

    My only hope is that this campaign season is that it finally appears that the Christian so cons and neocon ideals are on the wane in the republican party. that they can truly become the party of small government again. Even if Willard gets elected he is going to be confronted with a Republican party that is on the verge of a transitional shift back to small government ideas. this is in no small part thanks to the libertarian leaning republicans starting to overtake the party infrastructure at the lower levels thanks to Doctor Paul.

    smoke em if they aren’t banned

  116. freedy says:
    June 1, 2012 at 10:03 am

    Air Force One rolling and wheels up 9:47 for Minneapolis. One economic event and six fundraisers for Pres. today in #MN &

    No problem he can smoke the Newports on AF one .

  117. prtraders2000 says:
    June 1, 2012 at 10:15 am

    114 You joke. But it really is sad. The insiders made a sh!tload and this “investor” lost 25% when she can barely afford her cancer meds. I know she had no business getting into this, but I can’t help but think that on some level the process failed her. Between the media hype and the first day debacle, the little guy was set up.

  118. Anon E. Moose says:
    June 1, 2012 at 10:21 am

    Shore [68];

    That’s a bit out of my league, but I concur that staying off the airlines is the way to go. I used to fly to see family in the Mid-Atlantic, or friends still living near where we went to college. Now 6 hours or so drive isn’t such a chore. With screening lines and flight delays flying doesn’t even save much time anymore, either.

    Here’s a wonderful story about the type of people who make it through TSA’s background screening process: a former priest who resigned amid allegations of child molestation (can there be any cold comfort that it was with girls?) is a TSA agent, who now gets paid to feel travelers up, including children.

    http://philadelphia.cbslocal.com/2012/05/24/i-team-priest-removed-from-ministry-due-to-sex-abuse-allegations-works-at-phl/

    Hell, he might have taken that job for free.

  119. Juice Box says:
    June 1, 2012 at 10:25 am

    prtraders2000 – It is not a total loss for her like the casinos would be. She can prob get back $3k now if she sells. Your first loss is your best loss.

    If she cannot afford her meds, tell her to take a bus trip to Canada and stock up. I am not sure how it works but you can get a prescription filled there if you pretend to be a tourist in need of meds.

  120. Juice Box says:
    June 1, 2012 at 10:27 am

    prtraders2000 – It is not a total loss for her like the casinos would be. She can prob get back $3k now if she sells. Your first loss is your best loss.

    If she cannot afford her cancer M*E*D*S, tell her to take a bus trip to Canada and stock up. I am not sure how it works but you can get a script filled there if you pretend to be a tourist in need of meds.

  121. seif says:
    June 1, 2012 at 10:29 am

    117 – she’ll be fine. Good ol’ Mitt will take care of her when he gets elected.

  122. Shore Guy says:
    June 1, 2012 at 10:39 am

    A moderate, a liberal, and a conservative walk into a bar.

    The bartender says, “Hello Mr. Romney.”

  123. Anon E. Moose says:
    June 1, 2012 at 10:42 am

    Freedy [116];

    Air Force One rolling and wheels up 9:47 for Minneapolis.

    Suprising, because Obama can’t seem to find time in his schedule to campaign for the Democratic candidate Tom Barrnet in what the SEIU and other unions probably consider the most important election of the year. WI is a lost cause for the unions and everyone knows it. O can’t afford to burn what little political capital he has left. All the GOP needs now is a picture of O standing next to another loser (Corzine-NJ; Kaine-VA, etc.).

    I hear Bill Clinton is on his way there today, though. Even gave up his regular tee time to make it. They even managed to gather a crowd in Milwauke, where Barrnet is mayor. Well done.

  124. Shore Guy says:
    June 1, 2012 at 10:43 am

    Americans will vote for someone whose views differ from theirs if they believe that the person has “a plan” and has a well-formed political philosophy. Mitt’s biggest problem is that he is easy to paint as one who changes his views to be whatever he thinks is current audience wants to here, as exemplified by this:

    “Romney is a well-oiled weather vane.”

  125. New Improved Meat says:
    June 1, 2012 at 10:45 am

    It’s all set up for QE3 now. Too bad the only pop that will come from this round will be a 2-day equities rally. The junkie has now completely succumbed to the ratchet effect.

    Another day in hell.

  126. freedy says:
    June 1, 2012 at 10:46 am

    I hear Bill Clinton is on his way there today, though. Even gave up his regular tee time to make it.

    Billy’s going to be in Paterson on behalf of Pascrell who intends to drop dead at a
    fundraiser .

  127. Shore Guy says:
    June 1, 2012 at 10:48 am

    “Mitt will take care of her ”

    That’s the thing, people have to stop looking for politicians and government to take care of them. We need to take care of ourselves and our families. Then, if we fail to do so, governement has a role in keeping us from living in the streets and starving. Government is not some (or should not be) super parent waiting inthe wings to protect us from our every mistake and kissing the boo boo to make it all better. In a world without consequences for bad behavior or poor choices there is less incentive to behave properly or to make good choices.

  128. Libtard in Union says:
    June 1, 2012 at 10:49 am

    Gary (86):

    “How the f*ck this mope in the White House still has a chance to get re-elected is beyond me. But, I guess one can never underestimate the (ahem…) intelligence of the Amerikan Muppet species.”

    See Montclair town council elections for exact replica on the local level.

  129. Libtard in Union says:
    June 1, 2012 at 10:53 am

    “In a world without consequences for bad behavior or poor choices there is less incentive to behave properly or to make good choices.”

    Can you email this statement to Paulson?

  130. Juice Box says:
    June 1, 2012 at 10:55 am

    For FB let’s add the piece de resistance on their plans to make money on “likes”

    http://finance.yahoo.com/news/facebook-likes-become-ads-101815773.html

  131. The Original NJ Expat says:
    June 1, 2012 at 10:59 am

    [115] Pain – Yes, yes, and yes. I was sure he would flub his chance because he’s spent his entire career being brilliant and successful at only one thing, getting up to the next rung on the leadership ladder. The problem is, he never stayed on any rung long enough to actually lead anything. Suddenly there are no more rungs and the only thing left to do is lead and sadly he has no prior experience, nor natural aptitude, in leadership. Now he’s trying to get the people to vote like him. Simply vote “present”, that is.

    If ding dong had any political experience he would have led from the center first term.

  132. seif says:
    June 1, 2012 at 11:00 am

    126 – Mitt will hire her AFTER the election…he can’t have illegals working for him now for christ’s sake…he’s running for office

  133. freedy says:
    June 1, 2012 at 11:01 am

    http://www.sothebysrealty.ca/idx/cms/14307/details.html

    In case someone needs an Island . Reduced to 75 million.

  134. seif says:
    June 1, 2012 at 11:04 am

    115 – “The problem with fearless leader is he went to far left in his first term miscalculating the population while showing his true colors as a race hustler/ chicago style politician.”

    can you cite some examples?

  135. The Original NJ Expat says:
    June 1, 2012 at 11:07 am

    [117] prt- Here in Boston a lot people lost a lot of money. Did the Giants set up the little guy too when they lost their Super Bowl bets?

    the little guy was set up.

  136. Shore Guy says:
    June 1, 2012 at 11:11 am

    Gotta love Bill Clinton. He is out raising money for B.O. and at the same time helping to take him down. Thus begins the Hillary ’16 campaign:

    http://abcnews.go.com/Politics/OTUS/bill-clinton-criticizes-obamas-bain-attacks-praises-romneys/story?id=16474493

    Former President Bill Clinton suggested in a television interview Thursday that he believes President Obama’s re-election campaign should stop trashing Mitt Romney’s work in the private equity industry.

    In an interview with CNN’s “Piers Morgan Tonight,” Clinton, a top Obama surrogate who is set to raise cash with the president next week, directly contradicted Democrats who have attacked Romney’s business record, suggesting it does qualify him for president.

    “I think he had a good business career,” Clinton told guest host Harvey Weinstein, a movie mogul who is one of Obama’s top fundraisers. “There’s no question that in terms of getting up and going to the office and, you know, basically performing the essential functions of the office, the man who has been governor and had a sterling business career crosses the qualification threshold.”

    Adding that he has “friends” in the private equity business,” Clinton suggested it was dangerous for Democrats to go after Romney’s record at Bain Capital—adding that in private equity, “like everything else you try, you don’t always succeed” in saving companies or making them more productive.

    “I don’t think that we ought to get into the position where we say this is bad work,” Clinton said. “This is good work.”

    snip

  137. The Original NJ Expat says:
    June 1, 2012 at 11:14 am

    My fantasy is that Romney, Santorum, and Gingrich all get up on stage at the convention and hand their delegates over to Paul, announcing that was the plan all along.

  139. Painhrtz - I ain't dead yet says:
    June 1, 2012 at 11:15 am

    Seif really you need examples?

    the wonders of health care reform is a good start
    continuing the neocon/Liberal internationalist wars of ridiculousness
    supporting the morons in Occupy Wall Street
    Eric Holder
    Class Warfare
    American REinvestment Act which was basically a democrat slush fund
    Every environmental alternate energy boondoggle paid for by taxpayers
    GM/Chrysler union bailout at the expense of creditors and bondholders.

    oh that right the nasty republicans prevented everything his omipotence wanted to do for the benefits of us proles.

    hope and change you can believe in

    and believe me Mittens will be only slightly better he will just put on lipstick and heels for the defense industry. they all bend over and take it for their banking masters

  140. Shore Guy says:
    June 1, 2012 at 11:17 am

    “announcing that was the plan all along.”

    Is that just before or just after Sela Ward feeds me chocolate-dipped strawberries in a hot tub overlooking a secluded beach on St. Barts as we watch the moonlight on the water?

  141. Libtard in Union says:
    June 1, 2012 at 11:22 am

    Makes no difference who you vote for. The ultra rich masters are just gonna get richer.

  142. The Original NJ Expat says:
    June 1, 2012 at 11:24 am

    [138] At least O put all that oil back under the ocean where it belongs, or thereabouts.

  143. freedy says:
    June 1, 2012 at 11:25 am

    http://finance.yahoo.com/news/jpmorgan-names-bacon-deputy-risk-142647172.html?l=1

    I thought Jamie would hire Jon. At least they would then know where the money went.

  144. The Original NJ Expat says:
    June 1, 2012 at 11:29 am

    I suspect that the administration did everything they could to disperse the oil instead of clean it up because they couldn’t stand the idea of aerial footage of gargantuan oil slicks rife with dead wildlife being used in GOP campaign commercials, “Hope and Change you can Believe In.”

  145. seif says:
    June 1, 2012 at 11:32 am

    138 – yes, because calling all of those things “too far left” seems a bit of a stretch.

    – the health care mandate was formerly a republican idea…how is it now “too far left?”
    – continuing the neocon (and liberal) wars – how is that “too far left?”
    – supporting OWS – how? what support? it is a far left movement but there hasn’t been any support from this administration…NOTHING has changed or even been put in motion

    and so on…we may have different takes on these things but to say he went “too far left” is inaccurate.

    Maher summed it up nicely last week:

    “How can you guys be so unhappy with Obama when I’m so unhappy with Obama? You think you got coal in your stocking? I wanted single-payer health care, a carbon emissions bill, gun control, and legalized pot. If you get to carry around all this outrage over me getting that shit, shouldn’t I have gotten it?”

  146. The Original NJ Expat says:
    June 1, 2012 at 11:36 am

    [140] Lib – Bingo. Entrepreneurs and small businesses are being erased from the economic landscape because the chance of survival is shrinking daily. If you’re not under the protective umbrella of either big business or big government you can be easily destroyed, doesn’t much matter if it’s arbitrary or targeted destruction, it’s still destruction. Sure is a nice day out, though.

    Makes no difference who you vote for. The ultra rich masters are just gonna get richer.

  147. Mitt in Amercia says:
    June 1, 2012 at 11:39 am

    #101 Jill

    Not a chance. Campaign misfires all over the place. Still doing damage limitation from the primaries. Half the base hate him, the other half don’t trust him. He can’t run on a jobs record and can’t tout his biggest success, MA healthcare.
    The left are about to go to town on the Olympics. He needs the Independants and the polls are showing they are just not there for him.

    I got stuck beside a TV with Huckabee on. They were discussing Rev Wright. It made me wonder if they couldn’t make the Wright association work in 2008 why do they think it will work now. Or is it a case that this is all they have to throw at O.

    Roll on the Veep Pick!

  148. The Original NJ Expat says:
    June 1, 2012 at 11:39 am

    [144] seif – Truman wasn’t a Republican.

    – the health care mandate was formerly a republican idea…how is it now “too far left?”

  149. The Original NJ Expat says:
    June 1, 2012 at 11:47 am

    [144] seif – this is a mildly entertaining quote, but supports no argument.

    If you get your car repo’d and the government gives me a free Mercedes and you cry foul, that would be like me saying, “What are complaining about seif? I wanted a Ferrari and I wanted you to lose you house, not your car. I didn’t get anything I wanted.” Besides, isn’t using Maher to illustrate what aren’t left wing agenda items akin to like quoting Rush on what’s not right wing?

    Maher summed it up nicely last week:

    “How can you guys be so unhappy with Obama when I’m so unhappy with Obama? You think you got coal in your stocking? I wanted single-payer health care, a carbon emissions bill, gun control, and legalized pot. If you get to carry around all this outrage over me getting that shit, shouldn’t I have gotten it?”

  150. seif says:
    June 1, 2012 at 11:51 am

    148 – thanks for that. i love when people give ridiculous examples…”if i got a free Ferrari…”

    thanks for the note on Truman…but:

    Who came up with the idea?
    Conservative economists developed the concept in the late 1980s, when they were searching for a market-based alternative to the government-sponsored, universal health-care system liberals were proposing. Mark Pauly, a professor at the University of Pennsylvania’s Wharton School of Business, suggested offering tax credits to help everyone buy at least minimal “catastrophic” insurance, and he proposed making it mandatory to get coverage. The conservative Heritage Foundation latched onto the idea, and pitched it to Republicans in Congress.

    And did Republican leaders support it?
    Some did, and when President Bill Clinton started pushing his failed health-care reform plan in the 1990s, the GOP presented the Heritage Foundation approach as an alternative. Twenty Republican co-sponsors supported a Senate bill that formally proposed the individual mandate, but the idea faded when Clinton’s effort failed. In 2004, Mitt Romney, then governor of Massachusetts, revived the idea as part of a health-care overhaul for his state, which he signed into law in 2006. Romney, the GOP frontrunner for the 2012 election, is now vowing that, if elected president, he’ll scrap Obama’s federal version of the mandate.

    Why have Republicans turned on the idea?
    Out of political expedience, according to critics. Until ObamaCare came along, says David Frum at The Daily Beast, conservatives insisted the idea was “the secret to a well-functioning national health-care system.” Now some of those same people claim “a health-care mandate is tantamount to the extinction of economic freedom” because it’s convenient to say so. Still, let’s not overstate the individual mandate’s conservative roots, says Ramesh Ponnuru at National Review. A minority of think-tank types have always liked the idea, and some Republicans embraced it when they were forced to find an alternative to “HillaryCare.” But this was never part of the GOP platform.

  151. Libtard in Union says:
    June 1, 2012 at 11:51 am

    Neither parties agenda is going to do anything but get you all excited about voting for them. Once in, both will behave the same. Sure, one might let gays marry and the other might let you pay for private school on the taxpayer’s dime, but in the end, neither of these issues will matter that much when they string the barbed wire up around their compounds.

    Baa, baa!

  152. joyce says:
    June 1, 2012 at 11:54 am

    150

    correct

  153. seif says:
    June 1, 2012 at 11:54 am

    correction: i should have originally said “it was a conservative idea” not a republican idea.

  154. Painhrtz - I ain't dead yet says:
    June 1, 2012 at 11:54 am

    Seif quoting Bill Maher were Stalin and Trotsky quotes not available.

    Never did I say he was a pinko commie super far left like Maher. I just said he went too left his first term. Had he been closer to the center he may have been fine. Then he could have placated his base in ther second term.

    The problem with liberals is you think everyone thinks like you, when the majority of the country leans a little right of center. Not hardcore Pat Robertson right but more of the Jon Huntsman variety.

    Notice how you only selected certain points which support your point of view. Rather than contend all of them, and before you call me a republican hack. I haven’t voted for any of them either, in fact that last major party candidate I supported was Clinton in 92 and that is becasue I was 19 in college and was not as well read as I am today.

    Obama has been an easily predictable failure as a president, the only reason he won’t get his inexperienced rear handed to him in November is because Romney is nothing more than a mirrors reflection, albeit a much lighter one

  155. seif says:
    June 1, 2012 at 12:00 pm

    150 – i totally agree. and that is my point and the point of the maher quote: its all the same. nothing has changed. if one side is saying this guy is the most lefty radical we have ever had and the other side is saying we thought this guy would be our lefty hero but he has been a letdown…nothing has changed. where are the radical changes? nowhere.

  156. seif says:
    June 1, 2012 at 12:08 pm

    153 – Had he been closer to the center he may have been fine. Then he could have placated his base in ther second term.

    i agree with this to an extent.

    i didn’t continue on the list because its the same for the rest:

    Reinvestment Act – repub governors bad-mouthed it, then reach with both hands for the money and posed in front of reinvestment projects for photo ops

    The GM Bailout – too far left? Mitt is saying that it was exactly his idea and is (laughably) trying to get credit for it now

    Eric Holder – what? his appointment? not even sure what you mean by this one.

  159. Dissident HEHEHE says:
    June 1, 2012 at 12:12 pm

    No matter who is Prez Goldman will be taken care of:

    “We know that Goldman Sachs guys have infiltrated government, made policy to suit their own banking interests while there (see Robert Rubin and Hank Paulson) and left government to work in academia (where they can teach all the neat things they learned on Wall Street!) or in finance (Citigroup and as advisor to Obama).

    Does government feel we need any more bad advice from banks like Goldman Sachs?

    Now we see that Jim Donovan, a managing director of Goldman Sachs, is advising Mitt Romney and supporting his campaign for President with large donations.

    The disease that is Goldman Sachs’s political influence is all-pervasive.”

    http://www.goldmansachs666.com/2012/05/goldman-sachss-revolving-door-at.html

  160. Libtard in Union says:
    June 1, 2012 at 12:13 pm

    Here. I’ll make it easier for everyone to comprehend.

    Nixon cheated. Ford sucked. Carter sucked too (some say he really, really sucked). Then there was our Savior Reagan. He kinda sucked for all but the rich which is a Laffer, but Reagan lost his marbles so he didn’t realize it. Then his VP got elected and he sucked too. Then Clinton came in and sucked, but was the benefit of the tech bubble. He didn’t know that cigars were supposed to go in your mouth, so the Bush kid got the job. He benefited from the housing bubble, got reelected and ended up sucking too. Then came Obama, who was half black (hooray) and he sucked too. So would Romney or Obama if either gets elected. Though, if you are ultra wealthy, you continued to do quite better than the other 99.6% of us regardless of how sucky your president was. But keep on cheerleading and reading the Times and the Post. It’s what those rich guys use to deliver the crumbs. Keep on fighting their fight. I’ll be watching the circus from somewhere isolated in Central America where politics won’t mean a thing as long as they don’t take away my garden or my fishing rod.

  162. Painhrtz - I ain't dead yet says:
    June 1, 2012 at 12:18 pm

    Seif what else are they supposed to do. They are politicians. If they had principals they wouldn’t be.

    Holder has presided over one of the most unjust and corrupt justice departments in history. Look up some of his quotes then look up some of their actions since Jan 2009

    And of course Mitt would say the same becasue he is the same.

    the point you seem to be missing is that O’s problems have been entirely of his making. Mainly in part for his inability to read the tea leaves and actually take a firm position and lead. I think Expat said it best all he has ever been worried about is getting up the next rung on the ladder. When your whole career has been based on currying favor and buying acceptance that is the only thing you know how to do. The result the last 3 years in this country, a rudderless ship.

  163. Mitt in Amercia says:
    June 1, 2012 at 12:18 pm

    #153 pain

    I think you are wrong. Was extending the Bush tax cuts in their entirity”Leftist”. The part you miss is Mitch McConnell and his number one priority of defeating O. He let the Tea Party lose and is regreting it. A Romney win is his worst nightmare as he will have to then conpromise and the KY voters will toss him out in 2014.
    O came to the center on Healthcare willing to compromise. The GOP could have asked for anything even Tort Reform and got it, but refused everything. O pushed through what he could.

  164. chicagofinance says:
    June 1, 2012 at 12:20 pm

    seif says:
    June 1, 2012 at 11:04 am
    115 – “The problem with fearless leader is he went to far left in his first term miscalculating the population while showing his true colors as a race hustler/ chicago style politician.”

    can you cite some examples?
    -Cambridge MA police incident
    -Trayvon could be my son
    -Romney Bain Capital attack ads

  165. chicagofinance says:
    June 1, 2012 at 12:23 pm

    seif: to answer the Maher charge; it is exactly why he needs to go, ineffectual and unmotivated to do the heavy lifting to build consensus.

  166. Mitt in Amercia says:
    June 1, 2012 at 12:25 pm

    Holder / Gonzales
    Compare and contrast

  167. gary says:
    June 1, 2012 at 12:31 pm

    Shore [96],

    Besides, as someone I know said to me the other day, Obama has nearly four-years experience in the job and Romney has zero, thus B.O. is the logical choice; who do you want in office someone who has experience or someone without any?

    There’s your Oblama voting block. OMG…..

  168. seif says:
    June 1, 2012 at 12:34 pm

    real estate break:

    any guesses on this one?
    It is a great looking house with nice features, extra, etc…
    http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1219299

    but unless i am looking at the tax records wrong something is odd with this pricing…
    it sold in 2004 for $859K
    sold again in 2006 for $430K (huh?)
    and is now on sale for $1,098,000.000

    taxes are $18,357

  169. AG says:
    June 1, 2012 at 12:35 pm

    WOW!

    15 year conforming just hit for 2.75% 4k closing!

    Thats an all time low folks.

  170. AG says:
    June 1, 2012 at 12:35 pm

    3k closing

  171. seif says:
    June 1, 2012 at 12:35 pm

    164 – not if you feel the alternative is worse.

  172. Dissident HEHEHE says:
    June 1, 2012 at 12:39 pm

    To be honest why do any of you who consider yourself Republicans want this guy to leave office. He’s continued every Bush policy since he’s gotten into office (Iraq, Afghanistan, torture, turning a blind eye to Wall Street, etc). He’s gone even farther making this a police state -allowing domestic drones, jailing citizens without charges, etc. – all of which Bush would have jumped all over to sign. The only thing you could get up in arms about is Obamacare but even that was just a give away to the insurance companies.

    Why would you even bother voting? Bush Sr=Clinton=Bush Jr=Obama/Romney. Until you get money out of politics the puppets-in-chief will just continue to dance for whoever has the biggest wallet and pay lip service to a bunch of meaningless social issues while Joe Six Pack gets robbed blind and his kids are shipped off to fight some meaningless and endless wars.

    Once Ron Paul dies I doubt there’ll be another politician I’ll even bother going to vote for on the national level.

  173. Anon E. Moose says:
    June 1, 2012 at 12:39 pm

    seif [167];

    Prob. a divorce buyout in ’08 (Half price!).

  174. seif says:
    June 1, 2012 at 12:40 pm

    171 – Buddy Roemer – he makes a lot of sense. he is ALL about money out of politics

    http://www.buddyroemer.com/

  175. joyce says:
    June 1, 2012 at 12:41 pm

    171

    i wish i said that exactly as you did

  176. seif says:
    June 1, 2012 at 12:41 pm

    172 – bingo! good call! the owner is listed as a single person (woman). that’s it.

  177. Anon E. Moose says:
    June 1, 2012 at 12:44 pm

    Seif [154], HEHEHE [171];

    Paraphrasing: What’s the difference? All these gus are exactly the same!

    First, I thought Obama 2008 was supposed to bring “CHANGE”? Yet another promise that he failed to deliver on.

    I see some version of this from every unofficial lefty outlet. I suppose if you’re a wildly unpopular incumbent with a domestic and economic record that nothing but a string of miserable failures, you’re re-election strategy has to be to demoralize the populace into believing that ther’s no point in voting. Because if they did bother voting, they’d surely vote out the incumbent.

    Quite the inspiring re-election theme. From the candidate of “HOPE”, c. 2008. Yet another Obama promise past its expiration date.

  178. Mike says:
    June 1, 2012 at 12:44 pm

    If Mr. Greenspan is right on this one it’s retirement city for me baby : Greenspan, speaking on CNBC, expressed concern that the economy could begin to follow a track like it did in the second half of the Carter administration — not exactly anyone’s view of vibrant times for the U.S.’s financials. Then, the 10-year was yielding about 9% before bolting higher.

  179. gary says:
    June 1, 2012 at 12:46 pm

    Expat [141],

    LMAO!!

  180. Dissident HEHEHE says:
    June 1, 2012 at 12:49 pm

    They are the same + completely incompetent. If you think something will be gained by voting for Romney over Obama go right ahead; just don’t kid yourself into thinking that you’re doing anything but voting for somebody who is going to put the country further in debt and expand the power of the Federal Government.

  181. Mike says:
    June 1, 2012 at 12:50 pm

    Last chance to buy FB at this price, if you own buy even more and dollar average This is a great opportunity!

  182. Dissident HEHEHE says:
    June 1, 2012 at 12:54 pm

    Mike,

    You know what’s better than a $45 per share idea? A $28 per share idea!

  183. 3B says:
    June 1, 2012 at 1:14 pm

    #68 If this keeps up it will be at 2% before you know it!!!

  184. Brian says:
    June 1, 2012 at 1:16 pm

    When you dormer out both sides of your POS cape, does that mean you call it a Colonial? Since I dormered part of my POS cape, do I now live in a colonicape?

    Wha?

    167.seif says:
    June 1, 2012 at 12:34 pm
    real estate break:

    any guesses on this one?
    It is a great looking house with nice features, extra, etc…
    http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1219299

    but unless i am looking at the tax records wrong something is odd with this pricing…
    it sold in 2004 for $859K
    sold again in 2006 for $430K (huh?)
    and is now on sale for $1,098,000.000

    taxes are $18,357

  185. Mitt in Amercia says:
    June 1, 2012 at 1:20 pm

    #164 Chi
    The elephant is too heavy to lift. If you can’t persuade it to move of its own accord there is no compromise available.

  186. All Hype says:
    June 1, 2012 at 1:36 pm

    Libtard (159):

    I look at Mittens and realize the guy does not have an original thought in his head. The guy is as dense as an oak tree. I really wonder how he is going to do against Obama in the debates. One false statement off the party line and it’s back to liking to fire people, liking NASCAR cause you know a few owners, etc, etc….

    Bascially, the guy reminds me of a really dopey french poodle.

  187. Anon E. Moose says:
    June 1, 2012 at 1:42 pm

    HEHE [179];

    Since you think there’s no difference anyway, then lets send his ‘O’ness back to the faculty lounge in Chicago just for sport, huh? Win-Win.

  188. Libtard in Union says:
    June 1, 2012 at 1:44 pm

    I’ve given up on voting in federal elections. The socialist (real) never wins anyway.

  189. Brian says:
    June 1, 2012 at 2:00 pm

    If you wanna see the inside…there’s pics. Built in 2006. Good year for real estate.

    http://www.zillow.com/homedetails/Piermont-Rd-Closter-NJ-07624/2120648221_zpid/

  190. Dissident HEHEHE says:
    June 1, 2012 at 2:04 pm

    Nom,

    I am voting for Paul as a write in; I could care less which one of the two clowns win.

  191. seif says:
    June 1, 2012 at 2:10 pm

    190 – Paul…interesting choice. I am still deciding btwn George and John. I have ruled out Ringo.

    99/106 WickedOrange – a simple ” i would rather not say what street I bought on would suffice.”

  192. seif says:
    June 1, 2012 at 2:11 pm

    (quotes in wrong place up there)

  193. 3B says:
    June 1, 2012 at 2:11 pm

    10 Year at 1.46!! Before QE3, which is definitely coming now. So what do we get the 10 year at 1%!!!!!!

  195. 3B says:
    June 1, 2012 at 2:13 pm

    #88 Piermont is a busy street; just saying.

  196. joyce says:
    June 1, 2012 at 2:14 pm

    (192)

    3B,
    If you look at QE1 and QE2, rates fell before (or inanticipation of) the FED buying. When the QE’s started, rates rose.

  197. gary says:
    June 1, 2012 at 2:17 pm

    Brian [188],

    Does the listing say which window I need to knock on to get a dime bag?

  198. New Improved Meat says:
    June 1, 2012 at 2:18 pm

    pain (138)-

    You forgot to mention installing the biggest-ever Chicago machine politician/hustler/bankster- Daley- as his Chief of Staff.

  199. gary says:
    June 1, 2012 at 2:22 pm

    Do banks really want to give out 30 year fixed loans at 3.5%? Wouldn’t they rather just sit and wait for a higher rate to lend?

  200. Painhrtz - I ain't dead yet says:
    June 1, 2012 at 2:22 pm

    Meat I never said it was comprehensive.

  201. freedy says:
    June 1, 2012 at 2:25 pm

    I would hope that they have a multiple dwelling permit for that Closter home.

  202. New Improved Meat says:
    June 1, 2012 at 2:25 pm

    mitt (165)-

    Holder/Gonzales

    douche/douche

    stupid partisan hack/stupid partisan hack

    screw rule of law/screw rule of law

    Sorry, cannot contrast. They are the same.

  203. Shore Guy says:
    June 1, 2012 at 2:25 pm

    “Do banks really want to give out 30 year fixed loans at 3.5%? Wouldn’t they rather just sit and wait for a higher rate to lend?”

    No way they want to sit on it. Look at it this way, if you could borrow money at between 0 and .1% and lend it out for 35 times that higher rate, would you do it?

  204. New Improved Meat says:
    June 1, 2012 at 2:27 pm

    he (171)-

    Agreed. I don’t vote; haven’t voted in years, except to vote “no” on skool budgets.

    Voting shows you’re complicit with the criminals running this shitshow into the ground.

  205. Jill says:
    June 1, 2012 at 2:28 pm

    Mike #177: When was the last time Alan “Hey Everyone Trade In Your Fixed Rate Mortgage For An Adjustable” Greenspan was right about anything?

  206. New Improved Meat says:
    June 1, 2012 at 2:28 pm

    I would, however, gladly show up to Yankee Stadium for a mass public execution of politicians.

  207. Shore Guy says:
    June 1, 2012 at 2:30 pm

    Freedy,

    Then there is this at $60,000/month.

  208. New Improved Meat says:
    June 1, 2012 at 2:33 pm

    gary (198)-

    Of course not. That’s why they get involved in multibillion-dollar derivatives trades that are so complex, they don’t even know how to get out of doubling down against themselves.

    It’s all a chase for extra yield. Same as it ever was.

    “Do banks really want to give out 30 year fixed loans at 3.5%? Wouldn’t they rather just sit and wait for a higher rate to lend?”

  209. Shore Guy says:
    June 1, 2012 at 2:35 pm

    “Voting shows you’re complicit with the criminals running this shitshow into the ground”

    I disagree. Failing to vote gives those who are running things just want they want, as it magnifies the power of the activists of both parties. One is far better off — and has a better chance of creating a push for change — by writing in a name than in sitting home. If, for example, the R gets 15% the D 20% and a slew of write-ins gets 75% of the vote, it will be impossible for the winner to claim a mandate. It will also empower moderates in the parties to stand up and run.

  210. Libtard in Union says:
    June 1, 2012 at 2:38 pm

    There’s a lag between the ten year and the drop of rates at times. I would think by the middle of next week, you’ll be able to find a 2.625 from someone on a 15-year. I’m waiting for my 2.50 and pouncing.

  211. 3B says:
    June 1, 2012 at 2:43 pm

    #95 I don’t think the that will be the case this time, as in the past, they rose because the understanding was this will be the last of the Qe-eeing. This lastest Qe-iing will solidfy the fact that we will now have Qe-iing to infinity!

  212. Dan in debt says:
    June 1, 2012 at 2:45 pm

    Gary,

    Why do the banks care? They’re just gonna flip the loans to Fannie and get servicing fees anyhow.

  213. The Original NJ Expat says:
    June 1, 2012 at 2:45 pm

    [167] Even split with a co-owner?

    sold again in 2006 for $430K (huh?)

  214. Sima says:
    June 1, 2012 at 2:48 pm

    Update on jobs in big pharma: My husband is now working at a big pharma in another contract job. He said it is filled with contract workers (technical and non-technical)- mostly all over 50 years of age who are there to fix the problems, while the “real” employees are few (and are under 45 years of age). The most desperate contract workers are those who still have school age kids and now are on the contract treadmill. But all know that as soon as the problem or project they’re working on is fixed/completed, they’re out. He said it feels like musical chairs – you get laid off from 1 pharma company, and then get hired as a contract worker by another.
    My question is: what percentage of jobs now in NJ are contract jobs?
    And how can there be any hope of an economic recovery with this kind of situation?
    And how can there be a housing recovery if so many are contract workers?

  215. joyce says:
    June 1, 2012 at 2:50 pm

    (210)

    3B,
    I guess that’s possible. Some people one this blog have said QE to infinity since before the first. I was not one of them… stupid me.

    [question, can you see the (1) infront of the 3-digit numbers?]

  216. gary says:
    June 1, 2012 at 2:57 pm

    Sima [213],

    You hit the nail on the head. You just described the whole deal and asked the same questions I’ve been asking for years now. I’d love to have an explanation and a solution. Eventually, everything will be a temp job.

  217. Libtard in Union says:
    June 1, 2012 at 3:00 pm

    I temped my way through college. It was a decent gig. Until I had to empty that eighteen-wheeler full of free weights.

  218. The Original NJ Expat says:
    June 1, 2012 at 3:02 pm

    I’ve been wearing a red “Ron Paul 2012, END THE FED” wrist band for a couple months now, haven’t taken it off once. Nobody ever comments on it.

  219. Pete says:
    June 1, 2012 at 3:04 pm

    Brian, good find on the link. Everyone should do themselves a favor and read the description in the listing. My mind is blown….

    http://www.zillow.com/homedetails/Piermont-Rd-Closter-NJ-07624/2120648221_zpid/

  220. AG says:
    June 1, 2012 at 3:08 pm

    Re: Elections.

    Nothing will change if Romney gets in there. The policies will continue.

    This ends in disaster anyway and there wont be a political solution so stop wasting your time.

    Disclaimer: Writing in Paul.

  222. freedy says:
    June 1, 2012 at 3:13 pm

    Could someone explain how you can rent rooms in a single family house in Closter and not be in clear violation of various codes?

  223. Mike says:
    June 1, 2012 at 3:15 pm

    Jill 204 I know he’s a bunch of hot air but I miss those days of 10% CDs

  224. Mike says:
    June 1, 2012 at 3:18 pm

    Gary you will never believe what I saw on Craiglist http://cnj.craigslist.org/grd/3014770691.html

  225. grim says:
    June 1, 2012 at 3:18 pm

    218 – Concur – Mind Blown…

    A pristine neighborhood, with awesome stoor’s like cvs,starbucks,subway,and k-mart just to name a few.

  226. Brian says:
    June 1, 2012 at 3:19 pm

    Awesome!

  227. gary says:
    June 1, 2012 at 3:22 pm

    Mike [223],

    They want money for it? I thought Oblama was going to give everyone a pony as part of the entitlement distribution!

  228. Libtard in Union says:
    June 1, 2012 at 3:24 pm

    Just wow!

  229. Comrade Nom Deplume in The District says:
    June 1, 2012 at 3:25 pm

    Geez, I go outa state for a few days and seif goes wild.

  230. gary says:
    June 1, 2012 at 3:26 pm

    BTW, one of the corners in my basement is for rent if anyone’s interested. You could get a sleeping bag in there or possibly a blow-up mattress. No sleep apnea challenged muppets allowed.

  231. Bystander says:
    June 1, 2012 at 3:32 pm

    Audrey is pretty cute. Can I rent her and the master suite for one night?

  232. Sima says:
    June 1, 2012 at 3:36 pm

    I know so many of you are anti-Obama care, but I am personally thrilled – because preexisting conditions are covered (this is huge!) and also those college graduates or young adults who are now underemployed or unemployed or working at a small business where there are no benefits may be able to have health care through either parental coverage or COBRA for a longer time.
    Also, almost every single adult in their 20s that I know of is still living at home because while they work and work (even 24/7), they cannot seem to earn enough to move out on their own in NJ. And forget any job benefits for this group.
    Bottom line: Adults under 30 and over 50 are currently in “hard times” in NJ.
    So…Forget the pony, I want a unicorn! With sparkles….

  233. Libtard in Union says:
    June 1, 2012 at 3:37 pm

    “Audrey is pretty cute.”

    Bystander…you may want to withdraw your statement. At once!

    http://static.trulia-cdn.com/userimg/2841/710482_1242841493_m.jpg

  234. Bystander says:
    June 1, 2012 at 3:43 pm

    Lib,

    More false advertising..I was looking at the cute blondie in Brian’s link. Withdrawn.

  235. toomuchchange says:
    June 1, 2012 at 3:47 pm

    Just saw this comment from “Shelby” at a Facebook page for 99ers, the people who’ve run out of unemployment. The topic being discussed was voting, people were discussing Obama or Romney:

    “When I hear “worse” I still hear “lesser of two evils” Which is not good enough for me. I am not content with mediocrity. I did not like being on unemployment at all. While I have been surviving now by seat of my pants on contract work and doing all I can that is again not good enough when I am both willing and able to do more. As it stands my abilities, willingness or ambition mean nothing. My life is treated like a casino and it is not even my hand on the button rolling the slots. And I am supposed to say “oh well” and accept it quietly or accept it for others? Where is the accountability. I am willing to take mine and do my part. Why don’t the people that take my tax money have to do this? I don’t want to live out remainder of my life and especially my so called “good” years where I should be saving for older age and retirement on mine own this way. The people that pull the crap about jobs to be had cause what they see on career builder or a sign in the starbucks, Ok go apply as though you are looking and see how many respond to you and see what the process entails. The people that say “hang in there” Ok you quit your job and see how the hanging in there works out for you”

    I think there are lots of Shelbys out there, getting madder and more disgusted. It seems to me that at some point, as time goes on and things don’t get much better, some one or some group will come along and tap into that frustration. We may all be quite surprised about what kind of change is brought to us via the worldwide and growing army of the unemployed and disaffected.

    Two: Shelby is middle aged. Obviously she’s dying to help herself but due to insufficient work, she will not able to save enough for retirement. Shelby and the millions of Americans like her will be — if they are not already — unwilling users of government programs.

    Whether it’s Food Stamps for $200 a month or less or tens — if not hundreds — of thousands of government dollars for subsidized elderly housing or Medicaid to supplement Medicare, we are creating a huge future tax bill by not getting the middle aged unemployed back to work. God knows how this will end up affecting our younger folks. But certain anybody who wants lower taxes in foreseeable future can kiss that wish goodbye, as far as I can see. The question to me is, how much higher will they have to go?

    We have people who’ve been jobless or almost jobless for over four years. Time to bite the bullet and get them back into the workforce now, however we have to do it.

  236. Bystander says:
    June 1, 2012 at 3:49 pm

    Freedy,

    It is but since owner is going short sale, he is probably trying to squeeze any cash possible..even turning it into a flophouse.

  237. New Improved Meat says:
    June 1, 2012 at 3:56 pm

    shore (208)-

    That kind of thing used to work when politicians were beholden to individuals. Now, they only answer to banksters and big campaign supporters. Only way back to the way it used to be is through armed insurrection & violent overthrow of the current gubmint.

  238. gary says:
    June 1, 2012 at 3:57 pm

    I think there are lots of Shelbys out there, getting madder and more disgusted. It seems to me that at some point, as time goes on and things don’t get much better, some one or some group will come along and tap into that frustration. We may all be quite surprised about what kind of change is brought to us via the worldwide and growing army of the unemployed and disaffected.

    Lock and Load.

  239. New Improved Meat says:
    June 1, 2012 at 3:58 pm

    expat (217)-

    Probably 90% of the people you encounter don’t understand it.

    “I’ve been wearing a red “Ron Paul 2012, END THE FED” wrist band for a couple months now, haven’t taken it off once. Nobody ever comments on it.”

  240. Pete says:
    June 1, 2012 at 4:00 pm

    I knew that house looked familiar. Passed by it all the time. A mirror image house was built right next door, and I always thought “why?”. This was the height of the boom. Audrey is actually the owner, and paid $1.41M for it in ’05. Based on her writing, I think she can plead ignorance as to any violations that are occurring.

    http://goo.gl/maps/aSPn

  241. New Improved Meat says:
    June 1, 2012 at 4:09 pm

    My next door neighbor beat it out of town and turned his joint into a flophouse three years ago. Now, after a series of tenants (none of whom was actually bad) have pulverized the dump, he is trying to sell it as “recently renovated” by using the listing photos from when he purchased in 2005.

  242. New Improved Meat says:
    June 1, 2012 at 4:09 pm

    The first Norway rat I see coming from next door, I put a match to that place.

  243. chicagofinance says:
    June 1, 2012 at 4:17 pm

    I think my view is that I have never seen such a big chasm between what was proposed in an election campaign versus what was delivered than in 2008 and BO-I. I didn’t really expect anything, but again, just pure lip-service and no dirty fingernails. The other issue is the projected image….GWB I & II was a basket of scumbags who are fully aware that they will be burning in eternal hades at the appropriate time, except for GWB and his Forrest Gump life. BO & his clown fire engine crew seems to act as if they have the moral authority on their side…..their lack of projected self-knowledge is irritating at best and lethal at worst.

    Mitt in Amercia says:
    June 1, 2012 at 1:20 pm
    #164 Chi
    The elephant is too heavy to lift. If you can’t persuade it to move of its own accord there is no compromise available.

  244. Juice Box says:
    June 1, 2012 at 4:32 pm

    Lol – Audrey is an FIT Grad to boot, and perhaps a bit of a scammer? Is this house already in forclosure?

    http://www.linkedin.com/pub/audrey-vort/5/315/619

  245. Shore Guy says:
    June 1, 2012 at 4:33 pm

    I wonder if the owner of that place for rent in Closter is going to do like the guy I know did and live in the basement and use a chamber pot whilst renting the various above-ground rooms — including, as it turns out, to a couple of drug users/dealers.

  246. toomuchchange says:
    June 1, 2012 at 4:33 pm

    I’ve been following the European economic news at the UK’s Telegraph site for about two weeks now.

    They’ve been having a daily Live, continuously updated post about the newest developments. Some of it’s been fascinating reading.

    Here’s a tidbit from today that I found interesting:

    “15.17 A second insurer has stopped offering cover to shipments of raw materials and products to Greece. Earlier in the week Euler Hermes had taken the step, and today Atradius followed suit. But Greece’s ESEE retail federation warns it could have “catastrophic” effects:
    Insurance companies contribute significantly to the creation of a climate of security and trust in the market. This development has extremely alarming – if not catastrophic – consequences for trade and domestic industry. Shortages on shelves are already evident, as is the risk of the domestic market collapsing.
    Their argument is that Greece could elect an anti-austerity government which would force it out of the euro. The drachma would then plummet against the single currency, making it unlikely that suppliers would get paid and causing a drastic increase in claims.”

    Here’s another:

    “11.43 We’re not quite sure what to make of this, but it seems Bloomberg has created a currency code for the Greek drachma. We’ve just tried it out on our terminal and it leads to nothing but a blank screen and a message claiming: “Access to this security is restricted by its supplier”. It’s always best to be prepared, don’t you think?”

    Here’s the link to the archive:

    http://www.telegraph.co.uk/finance/debt-crisis-live/

    I think that telegraph.co.uk would be a good place to check out the Queen’s Diamond Jubilee festivities too, for those who are interested. They are starting this weekend and the UK will have a four-day holiday weekend.

    http://www.telegraph.co.uk/news/uknews/the_queens_diamond_jubilee/9298360/Full-schedule-of-the-Queens-Diamond-Jubilee-celebrations.html

    They will live blog that as well.

  247. Juice Box says:
    June 1, 2012 at 4:37 pm

    From Linkedin Audrey’s profile seems she and Joe Pesci are related.

    Groups and Associations: OHEL helping disturbed yout in Greater NY area

  248. Shore Guy says:
    June 1, 2012 at 4:37 pm

    Nom, et al,

    Just like with the flood of money made available for housing loans:

    http://www.nytimes.com/2012/06/01/opinion/how-to-make-law-school-affordable.html?src=me&ref=general

    THE economics of legal education are broken. The problem is that the cost of a law degree is now vastly out of proportion to the economic opportunities obtained by the majority of graduates. The average debt of law graduates tops $100,000, and most new lawyers do not earn salaries sufficient to make the monthly payments on this debt. More than one-third of law graduates in recent years have failed to obtain lawyer jobs. Thousands of new law graduates will enter a government-sponsored debt relief program, and many will never fully pay off their law school debt.

    How did we get into this mess? And how do we get out?

    Two factors have combined to produce this situation: the federal loan system and the American Bar Association-imposed accreditation standards for law schools. Both need to be reformed.

    First, consider the loan system. For more than three decades, law schools have steadily increased tuition because large numbers of students have been willing and able to pay whatever price the schools demanded. Annual tuition at many law schools in just over a decade surpassed $30,000, then $40,000 and is now more than $50,000 at a few. The reason that students have been able to pay such astronomical sums is that the federal government guaranteed student loans from private lenders, and now it supplies the loans itself with virtually no limits.

    To restore some economic rationality, the federal loan system needs to demand greater accountability from law schools: those with a high proportion of recent graduates in financial trouble should lose their eligibility to receive money from federal loans. (A similar requirement is currently applied to for-profit colleges.)

    The money itself also needs to be reined in. One option is to cap the total amount that each law student can borrow from the government (at, say, a maximum of $125,000). Law schools would then be forced to set tuition with this limit in mind. A flaw of this proposal is that, to reap additional revenue, law schools could simply enroll more students, which would only worsen the oversupply of law graduates.

    So another option is to cap the total amount of federal money that any individual law school can receive. A number of law schools now get about $50 million annually in loan money for students directly from the government. Placing an across-the-board cap on total federal loan money (of, say, $40 million) would force law schools to control tuition as well as enrollment.

    Whichever cap is chosen, it will function properly only if the government refuses to guarantee private loans and if private loans can be discharged in bankruptcy, which would make banks leery of lending money to law students who are unlikely to repay. To make up for this, the law schools themselves would have to extend loans, thereby aligning their interests with the success of their students.

    snip

  249. Shore Guy says:
    June 1, 2012 at 4:46 pm

    “I think that telegraph.co.uk would be a good place to check out the Queen’s Diamond Jubilee festivities too,”

    If the festivities involve the people deposing the monarchy and implementing a republican form of government, I will watch. if the festivities involve lavish praise for someone who holds power by accident of birth, I will pass. No modern nation needs a monarchy and I have nothing but disdain for so-called royals. It is high time that the citizens of the UK cashier the House of Saxe-Coburg-Gotha, or so-called Mountbatten-Windsors.

  250. Shore Guy says:
    June 1, 2012 at 4:50 pm

    Audry seems to have a couple of properties:

    http://www.zillow.com/homes/for_sale/6748550_agent_list/1_fr/

  251. The Original NJ Expat says:
    June 1, 2012 at 4:52 pm

    The McTenement looks to be 410 Piermont Road and it’s not on .75 acres like the listing says, it’s half that, 80×200. It probably was .75 acre before Decor Homes split it and built her house and the one next door at 416 Piermont. She bought it for $1,410,000 in September 2005.

  252. Shore Guy says:
    June 1, 2012 at 4:56 pm

    I wonder how long before the town sends some enforcement official to her door to halt her rental plans?

  253. Shore Guy says:
    June 1, 2012 at 4:57 pm

    I also wonder how long it will be before an intrepid reporter scanning this blog decides to pitch his or her editor on a story about this?

  254. The Original NJ Expat says:
    June 1, 2012 at 4:58 pm

    Audrey’s Last name isn’t Vort either, it’s Vortrefflich.

  256. Shore Guy says:
    June 1, 2012 at 5:06 pm

    § 200-8. Space requirements.

    Article IV. District No. 1, Residence Area A

    § 200-6. Uses.

    In Residence Area A, no buildings or premises shall be used and no building or part of a building shall be erected, constructed or altered which shall be arranged, intended or designed to be used for any purpose other than the following uses:
    A. A single, detached house used as a residence by not more than one family and accessory buildings necessary thereto. There shall not be more than one private garage as an accessory building.

    ***********

    § 200-10. Space requirements.

    Article V. District No. 2, Residence Area B

    § 200-9. Uses.

    In Residence Area B, no building or premises shall be used and no building or part of a building shall be erected, constructed or altered which shall be arranged, intended or designed to be used for any purpose other than the following uses:
    A. Any use permitted in Residence Area A.

    B. Single detached homes used for not more than two families per structure and a double house used as a two-family residence; provided, however, that the same shall be permissible only in the conversion of a residential structure existing upon the effective date of this chapter and only where said structure and land upon which it is existing complies with the provisions of this chapter and with the provisions of all other municipal ordinances and codes.

    ************

    same meets the licensing requirements of Chapter 141, Outdoor Cafes.

    § 200-12. Conditional uses.

    [Amended 3-12-2003 by Ord. No. 2003:893]
    In the Business Area District, until such time that the Borough of Closter has addressed its 1987-1999 housing obligation, the following use may be granted as a conditional USC by the Planning Board. Accessory apartment, defined as a self-contained residential dwelling unit with a kitchen, sanitary facilities, sleeping quarters and a private entrance, which is created for occupancy by a low- or a moderate-income household, as defined by the Council on Affordable Housing; and subject to the following conditions:
    A. The apartment is located above the first floor within an existing permitted principal or accessory building

    B. The building containing the apartment conforms to the height limitations and yard requirements established within the zoning district;

    C. The apartment shall be in full compliance with all applicable health and construction codes;

    D. Each apartment shall have a minimum of two rooms (excluding bathrooms);

    E. Each apartment shall have a separate door with direct access to the outside or to a hall with direct access to the outside;

    F. The potable water supply and sewage disposal system for the accessory apartment shall be adequate;

    G. The household occupying the unit must meet the income limitations established by the Council on Affordable Housing (COAH) for the Bergen-Passaic-Hudson-Sussex Housing Region;

    H. Affordability controls of at least 10 years shall be imposed on the accessory apartment via a deed restriction acceptable to the Borough’s attorney;

    I. Rents of accessory apartments shall be affordable to low- or moderate-income households as per COAH regulations and shall include a utility allowance. If more than one apartment is proposed for any property, at least 50% of all apartments shall be affordable to low-income households; and

    J. The owner of the accessory apartment(s) shall submit an affidavit of continuing use every two years.

  257. Shore Guy says:
    June 1, 2012 at 5:07 pm

    So, which one of you is going to enquire about renting a room?

  258. Shore Guy says:
    June 1, 2012 at 5:13 pm

    From a CNN e-mail alert:

    Wall Street suffered its bloodiest day of the year as U.S. stocks sank more than 2% following an ugly jobs report. The Dow erased all its gains for the year, dropping more than 270 points for the day.

  259. joyce says:
    June 1, 2012 at 5:20 pm

    247,

    Shore

    I like the idea of getting rid of the licensing requirement in order to be a lawyer.

  260. chicagofinance says:
    June 1, 2012 at 5:22 pm

    How refreshing…..

    President Barack Obama on Friday put the blame for a weaker-than-expected May jobs report on Congress, saying lawmakers’ inaction has stymied economic recovery.

    “Right now, Congress should pass a bill to prevent more layoffs,” Obama told an audience gathered at Honeywell’s Golden Valley, Minn., facility, which the president had earlier toured.

    Obama said Congress has not passed enough provisions of his jobs plan (“There’s no excuse for it,” he said) and must work immediately to offer more tax breaks for small-business owners and for homeowners who refinance. He also wants to extend tax credits for clean energy manufacturers. “Do it right now,” the president said.

    “Now’s not the time to play politics,” he said. “Now’s not the time to sit on your hands.”

    The message the president issued Friday follows the rhetoric surrounding a “to-do list” he released for Congress last month, which urged lawmakers to take steps to address the employment situation.

    In Minnesota, Obama once again lamented the struggles members of the military face when returning to the workforce. “No one that fights for this country abroad should ever have to fight for a job when they come home,” he said.

    To help change that situation, the president announced a partnership with the military and manufacturing companies to help veterans find work. He called on U.S. employers to hire post-9/11 veterans and their spouses.

  261. Shore Guy says:
    June 1, 2012 at 5:24 pm

    “‘Now’s not the time to play politics,’ he said [whilst he does just that]. ‘Now’s not the time to sit on your hands,’” [whilst he continues to do just that].

  262. Shore Guy says:
    June 1, 2012 at 5:25 pm

    If B.O. were an alcoholic, he would be blaming Jim Beam, etc. for his affliction. Everything not right is someone elses fault.

  263. seif says:
    June 1, 2012 at 5:27 pm

    I have som familiarity with Audrey, if I am thinking of the right person will look for the old emails when I get home. I believe she owns the house if she is who I am thinking of.

    Nom – double large ice coffees this morning and a slow day at work. Had to burn it off somewhere.

  264. Shore Guy says:
    June 1, 2012 at 5:29 pm

    I see a NJRER field trip to Closter in the works. Anyone ever lowball on rent?

  265. Marilyn says:
    June 1, 2012 at 5:34 pm

    those garages in Closter can hold alot of bikes!!! Let Paco come on in!!!!

  266. Juice Box says:
    June 1, 2012 at 5:35 pm

    re: # 250 – see I told ya it wasn’t going to be a 300 point day. :)

  267. Happy Renter says:
    June 1, 2012 at 6:01 pm

    Busy all day today, but I see I missed a real NJ ReReport Classico today! Off to enjoy the weekend.

    Live royal, my friends.

  268. Libtard channeling JJ: says:
    June 1, 2012 at 6:17 pm

    “Live royal, my friends.”

    Instant Classic

  269. freedy says:
    June 1, 2012 at 6:25 pm

    Perhaps Audrey can drag a few town officals to the fancy bars in town for cocktails
    and discussions on how she is not breaking any codes and doing Closter a service.

    Then the envelope comes out .

  270. gryffindor says:
    June 1, 2012 at 6:28 pm

    #266 – same here. On Saturday our GPS rerouted us up the Palisade Parkway and I finally figured out where Closter even is. Very entertaining to read this.

  271. scribe says:
    June 1, 2012 at 7:24 pm

    Let’s rent it as a njrereport commune!

  272. Bystander says:
    June 1, 2012 at 7:42 pm

    Live Royal indeed..although her situation is more like Live Roil.

  273. Brian says:
    June 1, 2012 at 8:12 pm

    Anyone remember JJ’s post about the BAK short sale he looked at?

    Could this be a similar story?

    Imagine Audrey hasn’t made a mortgage payment in years. Then, maybe she got money from the recent foreclosure settlement? What if the plan now is to live rent free while her short sale languishes on the market and she even cuts a profit collecting rent from her new roomates?

    Live Royal New Jersey!

  274. Brian says:
    June 1, 2012 at 8:21 pm

    Part of me feels bad for Audrey. This seems so desperate.

  275. Fabius Maximus says:
    June 1, 2012 at 8:21 pm

    #260 Shore

    Maybe congress can force his hand by sending him a bill to sign. I’m sure the house has a jobs bill hidden in there behind all those ab0rtion bills.

  276. gary says:
    June 1, 2012 at 8:52 pm

    President Barack Obama on Friday put the blame for a weaker-than-expected May jobs report on Congress, saying lawmakers’ inaction has stymied economic recovery.

    It’s Bush’s fault. Wait, the economy’s growing… it takes time, ya know. Wait, it’s Romney’s fault. No, wait, it’s congress’ fault… except for the Democrats in Congress. Yeah, that’s it… that’s the ticket.

  277. WickedOrange says:
    June 1, 2012 at 9:27 pm

    re 167 Seif

    I assume if you looked up the owner you have the address.. but anyway it’s
    127 Westervelt Ave. I drove by it last week, that house really stands out (in a good way) from the street and it’s a really nice street.

    Sorry for not replying about my street. I don’t want to give it out.

    I bought a modest house with a nice sized yard that’s not on a double line and not in a prime area. My Subaru Outback doesn’t look out of place in the driveway. Can’t say that about the neighbors on right and left of me. They each have both a Mercedes and BMW parked in the their driveways. The cars don’t match the residences.

    i know the listing agent… she told me this house went under contract for ask.

    http://www.zillow.com/homedetails/147-Jefferson-Ave-Tenafly-NJ-07670/38042115_zpid/

    Don’t know where it will net out at or if the deal will fall apart but it’s a data point for you.

    Looking at the 500k and under listings, anything not on Knickerbocker, riveredge, w. clinton, a stoplight corner, or has a cemetery for a backyard seems to disappear from realtor.com pretty quickly. I don’t know it their going under contract or just being removed.

    Does flight to quality (in terms of town) apply to real estate? :-)

    There’s no doubt in my mind a 4.5 30 year can be had from everbank. I got 3.625 back in March.

    Buy now or be priced our forever buy later at a lower price.

  278. Juice Box says:
    June 1, 2012 at 9:39 pm

    Let the New York banker perp walks begin for mortgage fraud. (not a major bank but perhaps a warmup for election season?)

    http://www.nytimes.com/2012/06/01/nyregion/abacus-bank-charged-with-mortgage-fraud.html?_r=2&nl=nyregion&emc=edit_ur_20120601

  279. WickedOrange says:
    June 1, 2012 at 10:01 pm

    i meant 3.5 30 yr not 4.5

  280. Comrade Nom Deplume in The District says:
    June 1, 2012 at 10:57 pm

    This storm coming your way has been nasty on Maryland. Batten down the hatches.

  281. Shore Guy says:
    June 1, 2012 at 11:02 pm

    Nom,

    I hear there have been tornados out over the bay.

  283. Shore Guy says:
    June 1, 2012 at 11:11 pm

    Without yet opening the link, would that happen to be God Save the Queen?

  284. There Went Meat says:
    June 1, 2012 at 11:16 pm

    brain (271)-

    Forget the illegal rentals. It is absolutely off-limits for a licensed agent to list her own property for short sale. Those transactions have to be strictly hands off/disinterested parties only.

    That’s one crazy bitch I would have no problem bolo punching. Scum like her is why I don’t do RE anymore.

  285. There Went Meat says:
    June 1, 2012 at 11:20 pm

    People used to ask me during the boom why I’d interview agents and not hire them.

    People like Audrey Vort are my answer to that question.

  286. There Went Meat says:
    June 1, 2012 at 11:21 pm

    brain (272)-

    Don’t. She will move on to yet another grift when this one crashes/burns.

    She’ll be grifting until the day she dies.

  287. Fabius Maximus says:
    June 1, 2012 at 11:59 pm

    #281 Shore

    You would probably like this. Brian channeling Jimi.
    http://www.youtube.com/watch?v=5hIE0vKQf6w&feature=related

  288. seif says:
    June 2, 2012 at 12:06 am

    Johan!

  289. seif says:
    June 2, 2012 at 12:11 am

    Wicked-O…no worries. I understand. I may see you around town; Look for the Phish stickers (saying something like that on this board will get me slimed).
    Venture Wines has a good but small beer selection and quality scotch selection. It is a candy store too; Axia is a quality happening (for the burbs) spot on some nights, shoe repair guy in center of town is new but he’s good…and more.
    Let me know if you have any questions about the town.

  290. The Original NJ ExPat says:
    June 2, 2012 at 12:35 am

    Trader: “Gold just went over $2000 an ounce!”
    Boss: “By tonight that will be cheap.”

    Love it. 1981 classic.

    http://www.youtube.com/watch?v=WI8dfFN7H1w

    BTW, who here is old enough to remember those small trading monitors? I worked for a NJ company at the dawn of the 90’s where we marketed and manufactured a ridiculously expensive video switch and a touchscreen version of those little green monitors. I was in and out of a lot of primary dealer offices and trading floors while I learned what primary dealers actually were.

  291. The Original NJ ExPat says:
    June 2, 2012 at 12:39 am

    Congrats to the Mets on their first no hitter! Is there anything funnier than this:

    http://www.collegehumor.com/video/6353652/the-mets-are-hiring

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