Headlines...

NEW -> Contingent Buyer Assistance Program
<p>I added the URL to the post. It is</p>

<p><http://www.reuters.com/article/businessNews/idUSN0631767220080207?feedType=RSS&feedName=businessNews></p>

<p></p>

<p>I think it is the same article that was mentioned in today's Blog comments.</p>
 
<p>I wonder where the term "toxic cool aid" originated anyhow. Is it a blogger originated term that somehow has made it into the mainstream?</p>

<p><a href="http://dealbook.blogs.nytimes.com/2008/02/07/buffett-sees-poetic-justice-in-banks-woes/">http://dealbook.blogs.nytimes.com/2008/02/07/buffett-sees-poetic-justice-in-banks-woes/</a></p>

<p>Mr. Buffett, the head of <strong>Berkshire Hathaway</strong> and one of the world’s wealthiest people, appeared to see irony in the fallout hitting many of the banks who marketed complex investments that have now crashed.<a id="more-20794"></a></p>

<p>“It’s sort of a little poetic justice, in that the people that brewed this toxic Kool-Aid found themselves drinking a lot of it in the end,” Mr. Buffett said during a question and answer session at a business event in Toronto.</p>
 
I did not actually read it, but I heard that Buffett said he does not see a credit crunch. He says plenty of money is available. Is he speaking just for Berkshire Hathaway or is he saying he sees no credit crunch in the overall economy? Hmm-m-m-m.
 
<p>awgee - this line from the article pretty much says it all...</p>

<p>He added: “What has happened is a repricing of risk and an unavailability of what I might call ‘dumb money,’ of which there was plenty around a year ago.”</p>
 
<p>From the Mortgage Guaranty Insurance Corporation <a href="http://www.mgic.com/aboutus/aboutmgic.html">http://www.mgic.com/aboutus/aboutmgic.html</a></p>

<p>Check this out:</p>

<p><a href="http://www.mgic.com/pdfs/Restricted_Markets_02052008.pdf">http://www.mgic.com/pdfs/Restricted_Markets_02052008.pdf</a></p>

<p> </p>
 
<p>Time to Purchase a House?</p>

<p>http://finance.yahoo.com/real-estate/article/104370/Time-to-Purchase-a-House;_ylt=AgYWj.ajt0Lag0c28m3l3jy7YWsA?</p>
 
<p>I watched, I think it was MSM tv on money. Anyway, they had a guru on who said that the latest tv ads about making money in reals estate was in this environment "a lie". Said ads being placed by a trade group, NAR, I guess.</p>

<p>Well that was calling it, finally.</p>
 
I saw an episode of "what's my house worth" or something like that on HGTV last night. Get this. The home owners spent roughly 20k on some remodeling and the realtor comes back and says...."Your home is worth 195k more!!



I am not kidding you. I almost threw the remote at the TV. That realtor should immediately have her license revoked, if she even has one.
 
<p>`Jumbo' Loan Limit Increase May Not Stem Housing Market Decline </p>

<p>http://www.bloomberg.com/apps/news?pid=20601087&sid=albzArCDnWsI&refer=home</p>
 
<p>UPDATE 1-OFHEO's DeMarco-Mortgage delinquencies on the rise</p>

<p>http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN0739766220080207?pageNumber=1&virtualBrandChannel=0</p>

<p> </p>

<p>graph of OFHEO index for California at</p>

<p><a href="http://www.ofheo.gov/media/pdf/statepdfs/CA.pdf">http://www.ofheo.gov/media/pdf/statepdfs/CA.pdf</a></p>

<p> </p>
 
For those who want a fix of doom and gloom...





<a href="http://www.atlanticfreepress.com/content/view/3311/81/"> Trends for Downsizing the US: The Bright Side of the Panic of ‘08</a>
 
<p>Well, this should make this guy (<a href="http://bigpicture.typepad.com/comments/2008/02/moodys-warning.html">http://bigpicture.typepad.com/comments/2008/02/moodys-warning.html</a>) happy...</p>

<p>SEC May Propose New Rules for Credit-Rating Companies (Update2) </p>

<p>http://www.bloomberg.com/apps/news?pid=20601087&sid=aWdgRpYzug8k&refer=home</p>
 
<a href="http://cosmos.bcst.yahoo.com/up/player/popup/?rn=3906861&cl=6364062&ch=4226720&src=news">Demystifying the Mortgage Mess</a>





http://cosmos.bcst.yahoo.com/up/player/popup/?rn=3906861&cl=6364062&ch=4226720&src=news
 
Heart of Glass

<p class="info"><em>The Economist</em> </p>

Existing regulation seems to encourage banks to get into trouble

<p>REMEMBER when a bank manager was the epitome of prudence? For the past six months, almost all the news from banking has been bad, even though this is an industry monitored by vast teams of regulators. By contrast, the unregulated hedge-fund industry has buried its dead with much less fanfare and many fewer unpleasant consequences. This suggests two main possibilities. Either the standard of bank regulation is very poor or there is something about being regulated that leads to trouble...</p>

<p><a href="http://www.economist.com/finance/displaystory.cfm?story_id=10609325">http://www.economist.com/finance/displaystory.cfm?story_id=10609325</a></p>

<p> </p>
 
<p><a href="http://www.thespoof.com/news/spoof.cfm?headline=s2i30171">http://www.thespoof.com/news/spoof.cfm?headline=s2i30171</a></p>

<p>Written as a joke, but...</p>
 
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