Headlines...

NEW -> Contingent Buyer Assistance Program
That's pretty sobering. It makes you wonder how much counterparty risk is really out there.



Can you imagine building the Titanic without anybody figuring it out? Unreal.
 
You ever notice how every other day Bubblevision has some expert saying that the bank writedowns are just about done? Greenspan, Bernanke and the CFO of Goldman Sachs all say the worst is over. What does John Paulson have to say?


http://www.bloomberg.com/apps/news?pid=20601087&sid=aXSOhMmQinBc&refer=home
..<p>

And who are you gonna out your money on?
 
[quote author="awgee" date=1213787100]IMO this is part of the most important financial news story in 2008 and 99% of the public will never hear a thing about it.


http://www.telerate.com/article/newsOne/idUSN1543260720080615</blockquote>


Sheesh. I wonder how this guy found out. Seems like its time for the federal government to have some open meeting laws adopted.
 
<strong>RBS issues global stock and credit crash alert</strong>

<em>The Royal Bank of Scotland has advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months as inflation paralyses the major central banks.



"A very nasty period is soon to be upon us - be prepared," said Bob Janjuah, the bank's credit strategist.



A report by the bank's research team warns that the S&P;500 index of Wall Street equities is likely to fall by more than 300 points to around 1050 by September as "all the chickens come home to roost" from the excesses of the global boom, with contagion spreading across Europe and emerging markets.[...]





"Cash is the key safe haven. This is about not losing your money, and not losing your job," said Mr Janjuah, who became a City star after his grim warnings last year about the credit crisis proved all too accurate.



RBS expects Wall Street to rally a little further into early July before short-lived momentum from America's fiscal boost begins to fizzle out, and the delayed effects of the oil spike inflict their damage.



"Globalisation was always going to risk putting G7 bankers into a dangerous corner at some point. We have got to that point," he said.[...]



http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/...</em>
 
[quote author="NoWowway" date=1213849893]<strong>RBS issues global stock and credit crash alert</strong>

<em>The Royal Bank of Scotland has advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months as inflation paralyses the major central banks.



"A very nasty period is soon to be upon us - be prepared," said Bob Janjuah, the bank's credit strategist.



A report by the bank's research team warns that the S&P;500 index of Wall Street equities is likely to fall by more than 300 points to around 1050 by September as "all the chickens come home to roost" from the excesses of the global boom, with contagion spreading across Europe and emerging markets.[...]





"Cash is the key safe haven. This is about not losing your money, and not losing your job," said Mr Janjuah, who became a City star after his grim warnings last year about the credit crisis proved all too accurate.



RBS expects Wall Street to rally a little further into early July before short-lived momentum from America's fiscal boost begins to fizzle out, and the delayed effects of the oil spike inflict their damage.



"Globalisation was always going to risk putting G7 bankers into a dangerous corner at some point. We have got to that point," he said.[...]



http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/...</em></blockquote>


that's one hell of scenario, thx, eventhough i was also on the same page that this yr stock mkt won't do well.
 
I can make all kinds of puns, but apparently <a href="http://www.newsweek.com/id/141848?GT1=43002">the worlds' oldest profession is elastic after all.</a>



Warning: This article is by Newsweek and talks about brothel business. IHB uptight types are advised to proceed accordingly.
 
Operation Malicious Mortgage is underway...



U.S. Charges 400 in Mortgage Frauds, Justice Department Says

http://www.bloomberg.com/apps/news?pid=20601087&sid=a6c2SO2TZnxg&refer=home
 
[quote author="Anonymous" date=1213920937]Operation Malicious Mortgage is underway...



U.S. Charges 400 in Mortgage Frauds, Justice Department Says

http://www.bloomberg.com/apps/news?pid=20601087&sid=a6c2SO2TZnxg&refer=home</blockquote>


Hoocoodanode?
 
<a href="http://latimesblogs.latimes.com/laland/2008/06/help-new-cable.html">New cable show seeks flippers in trouble</a>



Are you a stuck flipper? Flipping out because you're upside down and bleeding cash? If so, the producers of a new cable TV show are looking for you. Seriously.



http://latimesblogs.latimes.com/laland/images/2008/06/19/k20e8knc.jpg



They sent me this e-mail: "A cable television series is searching for home owners in trouble to participate in a special episode about how to turn a losing investment into a moneymaker. If you're in over your head and need expert financial and construction advice, please write to realestatenightmares@gmail.com."
 
Naturally some people in Florida would be involved.



But I heard on NPR, that some of these 400 were already in jail

and serving time. Did I hear wrongly? This is something that's

been going on for a while and just now being announced?



400. Pfffftttt. A drop in an ocean of crime.



No Cali types as yet.
 
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