bills_fan

Very true.

John...they have. Its called fractional reserve banking. Basically, it works like this... A bank has $1.00 (from where does matter, but not for these purposes). The Fed mandates that the bank must keep 10%. So the bank loans out $0.90 to another bank. That bank, with the same 10% requirement, can loan out $0.81. The next bank $0.725. And so on. I realize my example is simplified, and there are many otehr factors affecting this notion, but the basic concept is there.

Simple. If he made 280k, my guess is his base salary was about 100k, with 180k in bonus. 100k base is not much to live on in NYC, think 50k in Buffalo, it really is comparable. That bonus splits out to, my guess, 130k-150k in cash and 30k - 50k in restricted stock options (Bear was notorious for giving these out). The restricted stock options he got last year would have been virtually worthless. Bonuses are taxed at 43% in NYC, you see 57%. He would have seen about 75k on the bonus. Now, the question is...did he make any big ticket purchases (NYC apt, engagement ring etc.)? Not defending him, but just saying...it could happen quickly.

Dude...seriously....

Not sure how long he is signed for...if only 2-3 more years, that could be awesome for this offense. Of course, it will never happen, but hey nice to dream right?

They used the starting lineup of the Cowboys as voters Obama should tell these azzholes to stop (and yes, they are his people), he's already got the election won, no reason to taint it. http://news.yahoo.com/s/ap/20081007/ap_on_...ter_fraud_probe

I'm really not planning to at this point, just used it as an example. Although with the ever expanding family/possible Mom moving in, a little more room would not be a bad thing.

East Brady...that was a very interesting article. Can you post some links to others discussing this...preferably sites that do not advocate the direct purchase of gold/silver? Of course, that will be the preferred route, but you can certainly see the inherent conflict of interest.

Thanks Jay, appreciate the review. I may be looking at that L Poz.

Depends on the bar...seriously. I got a lot of good advice way back when (market and otherwise) at two bars...Le Cirque 2000 and Wollensky Grill. Sadly, only one still exists (the new Le Cirque is not the same, no matter what anyone says). Wollensky Grill...still my favorite spot.

Problem is that no one, absent extreme circumstances, will sell a house if they lose their entire down payment and have to dig into their pockets at closing to pay off a mortgage. You will continue to have a frozen market, expecially for anyone who bought a house (prime, 30 year-fixed included) after 2003. Right now, if I sold my house (which has a 30 year fixed mortgage, with 21% down payment), I'd lose most of my down payment, and if I had to pay a broker to sell, would have to dig into my pocket at closing. So, you can forget selling and then buying another house. And this is not in California/Florida/Nevada, but NY, a more stable market. A home being one's largest asset (in most cases), until you stabilize housing prices, you will not see a healthy market of buyers and sellers. Sellers won't sell and take that kind of personal loss (which incidentally cannot even be written off your taxes, as a primary residence is excluded from long term capital loss calculations).

Chef, its not exactly "my plan" and I admit it has a lot of holes. Also, I don't necessarily think its a good idea. You raise a good point that I raise in my original post, regarding lack of liquidity later on. But as far as solutions to the current problem, this one is as good as any I've heard recently. It brings with it many other problems, but it does address the root cause of the current problem...falling housing prices.

I really could not say anything better than this guy did... http://www.minyanville.com/articles/Bernan...n/index/a/19357

Again, depends on your horizon. For my 401(k), and my son's 529, we're just buying stocks on sale. But the horizon is 15+ years. If you planned to buy a home and live in it for 10+ years, yeah, go for it. Otherwise, it may not be worth it. Personally, I'd do it, if I could get close to my purchase price on my current place. This would be to accomodate my expanding family (and have room for Mom). Live there 15 or so years until I could swing the Bud Foxian place in the city I always wanted.

The problem is this solution may be far worse down the line. If the problem is falling home prices, leading to the mortgage securities falling in value (and being unattractive to the $3 trillion in private equity on the sidelines) then we need to either prop up prices or allow this deleveraging/price discovery process continue. The only way I can see housing prices propping up is if Americans are permitted to invest a percentage (25%, 50%, 100%?) of their 401(k)s, tax-free, into their homes. You could tap those assets for use in down payments, tax-free which would stabilize the housing market and get private equity off the sidelines. The banks would start lending again and away we go. I can also see this picking up a populist twist..."Why give Wall Street all you retirement money to put in stockjs and bonds when you could put it into your home." Now, I'm not advocating for this plan, I think it brings inflation, a second housing/credit bubble and long term liquidity problems for individuals asthey try to tap the resources in their homes for retirement. But it could work...at least short term.

Usually the PPT is a bit more subtle than pulling that kind of rabbit from its hat.

Step 1 to recovery... http://www.cnbc.com/id/27044623

I agree with many of your points. Every team has a clunker and runs into a red hot QB. That said, some of the dfense calls were baffling. And the O-line must play better. Trent needs to get healthy...fast. Finally, I'm loving SD....they host the Pats*, in a game they will be sky high for. Then they have to come to the rough Buff, in what can only be described as a trap game for SD. We have a two weeks to rest and prepare. I expect our best effort of the season against SD, who will be coming off the emotional high of smoking the Pats*. 5-1, before we hit the division meatgrinder...say we come out of that with 2/3...7-2 and head toward the AFC East title!! My optimism is still sky high!

Hey Jay... Can you post a review of it when you actually receive it? I've been thinking about a current player throwback myself and would love to know your reaction to this one. If you really like it, I may seek out that seller as well. Thanks.

I don't think Obama has to do a damn thing. McCain was gifted an opportunity with the economy and he fumbled. Game, set, match. Now, imagine what the election would be like if McCain had chose Mike Bloomberg as his VP. McCain could roll out Bloomberg on any economic issue, sit back and watch Bloomberg tear all of them a new ****. Missed opportunities....

Do you define creating a regulatory structure for the CDS market as extraordinary intervention?

Definately by 12 for a 1 pm game.

McFaddens is more fun, but get there early if you want to get in. Calicos is more relaxed, far easier to get a table, but still a good time.

True, prices rise. But you also make improvements. I have done new bathrooms/kitchens/floors/paint in every place I have owned. I figured out how to do it myself, working from one of those books you buy at home depot on the weekends. I never put expensive stuff in, but was able to put new stuff that was nice in the places. That helped the re-sale value a lot.