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PerpWalkWatch - # of Hours New AG Eric Holder Has Let Angelo Mozilo Run Free
Eric Holder and Barack Obama
Failure to
Arrest
Angelo Mozilo
2862 Hours
(countdown suspended 6/21/2009)
ERIC HOLDER - YOU ARE A COWARD
DO YOUR JOB
(UPDATE 6.4.09 - SEC CHARGES MOZILO WITH INSIDER TRADING. YET ERIC HOLDER STILL SITS ON HIS ASS AND DOES NOTHING)
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53 comments:
Great. Now I might even find a job.
Just in time too, I got my foreclosure eviction notice posted on my garage door today.
DOPES!!!
By the way, this bottom calling in housing is picking up a lot of steam here in Vegas. And they are biting. I know three people putting in offers.
British Airways is asking employees to work for one month for free. Very inflationary.
Whst about all the Alt-A loans coming due? Any ideas?
Whst about all the Alt-A loans coming due? Any ideas?
Irrelevant and way past a little irritating.
Why not just ask Cramer out on a date Keith and the two fo you get a room?
Stop the Cramer Madness here Please.
We are all SICK of this useless ASSHOLE.
Thank you.
Jim Cramers call of the housing market bottom on national TV, July 25, 2008 on the Regis and Kelly Show:
Regis Philbin: These are tumultuous times.
Jim Cramer: ...I’m a buyer! I’m a buyer! I’m a buyer!
Regis Philbin: Is this the time to buy a house?
Jim Cramer: I want to buy not one house. I want to buy 2 houses. I wanna go…I’m going out to California in another month and a half. Prices were up very big there; looking at the Palm Springs area. Prices down 2/3rds. When are we gonna wait until we are down 100%?
Kelly Rippa: Isn’t it time for Regis to buy Joy that vacation home she’s dreamed of on the Florida beach? Isn’t it time for Regis?
Jim Cramer: Well, no. On the west side it’s already moved up. It’s too late. Can you believe it? East side, east side is there, 50% down. East side, I want you to go down with me and we go buy a couple. Go buy a couple!
-----------
Jim Cramer, the liar, the hypocrite, the buffoon.
Keith, do you really put credence into to this idiot??? Please tell me you have more smarts than that.
This guy calls it wrong time after time, and then lies about it later by saying he told people just the opposite. How does he get away with it???
Jim Cramer called a housing bottom almost one year ago (July 25, 2008) in California and Florida. Could he have been any more wrong???
Keith, I've respected you for so long now because you got the housing crash so right. But now I have to ask, was that your 15 minutes of fame???
I'm just reporting the news. I don't agree with Cramer. Too much inventory, P/E's still out of whack, unemployment still rising.
Yes, housing seems to bottom every other month over the last 3 years, so what else is new?
I didn't even watch this video because Jim Cramer waving his arms around like a muppet, flipping switches on his prop mixing board like a mad scientist, and drilling a hole in my ears with his whiny voice just gives me vertigo.
No no, I can't watch it, but even so, I know I don't buy it.
Housing still has a way to go down in a lot of places.
I hope he is wrong but everything I am seeing lines up with his statements.
Forget the Schiller chart of where equilibrium in house prices "should be". Things do not act in line with the way they "should". If they did we would never have experienced a bubble in any market. The DOW would not crash 30% for 2 months and then rise 30% for 2 months.
We are in a unique time with all prices. Prices are usually not at a point where you feel they are reasonable. Historically you feel you are spending more than you would like to pay and more than you think houses should be worth, or more than that SUV should cost. But you pay. Rarely in history do you feel like you are getting a bargain.
My point is I do not think these bargains will last forever, and calls for another 20% decline in housing prices start to remind me of the same people that called for 10-20% house appreciation a year until the end of time.
Shill cramer is speaking. Everyone go out and buy homes!
Prices must come down another 55% here in the bay area before we take on a deflating asset such as a house.
No way will we buy before Dec 2012.
He's a JACKASS.
Die Cramer
For What It's Worth...
Per Zillow, my old house (in the 'burbs north of Seattle), which sold for $290k on Oct. '07 is now worth $257k.
Down 11.4%!
But after listening to Cramer I am convinced this is the absolute bottom.
Right.
Ha ha ha!
-Msmmoth
Housing has officially bottomed.
Cramer is officially a jackass.
Only one of these two statements is correct. You pick.
I think we are in a short broad uptick before the next painful and demoralizing grind down right across the board. Stocks have led us up a bit but IMHO, there is nothing to support it, debt bubble still pretty puffy and getting worse with lack of buyers so I can't for the life of me figure out how this ends without WAY more defaults.
Keith, there are over 4 million houses vacant at present. Another 2.4 million in forclosure. There are over 20 million people unemployed at present with another 5 million to lose their jobs by the end of this year. Interest rates are rising and there are no more easy Ninja/predator type mortage loans available. Alt-A resets are preparing to hit like a freight train and commercial real estate is falling off the cliff. Cramer doesn't have the intelligence of a tree stump. Not until housing loses 80% of it's 2006 value will a real bottom be in sight.
"keith said...
I'm just reporting the news."
NO, withCramer, you really aren't reporting NEWS.
Unless you are dumber than you sound lately?
Hint:
Cramer = News. NO.
Congress just approved $100+ billion dollars more for the failed bush/cheney wars, (no WMD's)and BO agrees 100%.
$100 BILLION MORE!!!!
Cluster bomb and casket maker stocks SURGE 18%!
Wow. BO is no diifferent than Bush, and our elected officials havent changed one bit either.
So whats all this mean?
We are all DOOMED and theres nothing we can do.
Mean while, hundreds of US towns and cities have no operational cash so they cut off food programs, shut down schools and fire thousands and thousands of teachers, police officers, health services, community events, etc, etc.
Fuck, I cant even afford to buy a bag of popcorn. Seriously, even if housing did bottom, I have no job, credit or cash to buy one.
This country sucks.
Pump-n-dump writ large. Cramer is a bought and paid for shill. I wonder if he will issue a death bed confession?
Cramer is a carnival barker working in a booth next to the Wall Street Rollercoaster ticket office.
He's a hypester dufus.
Notice how he steers the sheeple towards the home builder stocks and away from the ETFs? Somebody's Cayman Island bank account just received a nice deposit...
"...Things do not act in line with the way they "should". If they did we would never have experienced a bubble..."
House prices cannot rise faster than incomes if the mortgage is to be paid.
The ONLY reason they did was because the financial industry AAA/liar loan fraud enabled them to.
That is gone now(for a while.)
The CNBC tool has spoken!
During the Great Depression housing lost 92% of its value.
As an Anon poster said, we will lose 80% of 2006 prices.
All the cult cramer followers will become enlightneded when they realize what is really happening.
Another "Dick's Sporting Goods " call....
I wonder what he's selling? Homebuilder stocks?
OK, I'm calling out Cramer, right here, right now.
I'll make a $5,000 bet with Cramer if he has the balls... which I doubt. $5,000 to the charity of his or my choice.
He says prices have bottomed.
I say prices will go down another 7% on a national average in the next 12 months. (More likely, even more.)
We'll use the Case-Shiller numbers as the judge.
$5,000 Cramer. Put up or shut up.
Calling the bottom on the worlds largest Yo-Yo
Here it is
wait
Here it is
wait...
if cramer says housing has officially bottomed, then we know for sure that it hasn't.
I'm never going to buy a house. It's not a part of my American Dream anymore. It's just too many dollars for poor conditions. I'd rather be free.
No way its bottomed in Santa Fe
According to first quarter sales numbers, there is a 32 month supply of homes in Santa Fe right now (up from 19.5 months in first quarter 2008). There are more homes for sale than last year and sales volume was lower.
Prices are starting to come down (peaked in the high $400s early last year, now in the low $400s). They are going to come down way further.
Jymkata
Trying to call a bottom on a whole in the US is not correct. I am a Real Estate agent and I can make my call on the Central Coast section of California. (Cambria to Santa Maria).There are Flat/Bottom shoots in distressed sales and auctions. (Multiple ready buyers with cash). The sales of existing comp clingers or sellers trying to cling on to non reo comps are going to see a 1% decline month to month or until they catch the distressed comps that are avg 11-12% lower. There are also non comp clingers. Those are homes that will never sell. They are overpriced and most have problems with loans. The bottom is determined by the amount of inventory and the amount of qualified buyers. Doomsday (Overall Shock) has passed we are in the days of reckoning (Getting Real) in real estate. As long as the existing supply of REO inventory is holding (Demand) it will stabilize a flat bottom that will eventually stabilize the higher end market. It will be a flat market and it will fluctuate with rates and inventory. Just FYI March in our area saw the largest amounts of NODs filed ever. So Inventory is sure to keep coming. This is a Flat Market /Bottom with green shoots (Mostly media spin – less bad news) nothing more. Not the “Bottom” as Cramer has said. So in my estimate there are (3) types of homes for sale you can make your own conclusions on where a buyer might be in today’s market. You can also see where a overall adjustment of say 50% as some have stated might be – But not in all Categories’.
1) Distressed – Most of the sales. (Flat / Bottom Market)
2) Comp Clingers – Likely chance to sell if seller is motivated.(Flat Market/Motivated Sellers)
3) Non Comp Clingers – Sitting Ducks – Never Sell (Inventory Clogged)
No need to spend anytime arguing this. Just one word for Cramer.
IDIOT!
He should read some CalculatedRisk and SootandAshes before he makes these stupid comments.
Dny
Here's some MORE incorret/wrong/dangerous 'predictions' dfrom your loony-tune butt-buddy Cramer. Maybe Cosmo Cramer could do better on drugs:
Revisiting Jim Cramer’s 2007 Prediction for Seattle Real Estate
By The Tim on June 17th, 2009 at 1:36 PM · No Comments
Jim Cramer, September 2007:
Don’t you dare buy a home now. You will lose money.
[Real estate agents complain, insist that real estate is regional, and there are some places where it is a good time to buy. Cramer responds...]
Seattle, and 10005 are the only two. Maybe Montgomery County in Maryland. Three. That’s it.
So, according to Jim Cramer, September 2007 was a good time to buy a home in Seattle. Everywhere else, home buyers were setting themselves up to lose money, but not in Seattle.
Let’s have a quick check on how that’s turning out.
September 2007
King County median SFH price: $450,000
YOY appreciation: +5.9%
May 2009 (20 months later)
King County median SFH price: $375,000
YOY appreciation: -14.8%
Total price change: -16.7%
Whoops. And for those of you keeping score at home, the drop in Seattle’s Case-Shiller HPI was even more steep, falling 22.2% from September 2007 through March 2009 (the latest data available). In other words, if you bought a Seattle-area home in September 2007 with 20% down, your “investment” is now most likely completely gone.
Not that anyone really thought that Jim Cramer had any credibility (anymore/ever) anyway, but it’s certainly entertaining to revisit proclamations like this once in a while.
Thanks for the Free Advice Asshole Fuckhead Cramer. Pitchforks.
Cramer is purely basing his bottom call off the "Charts" of homebuiders. And he wants to get his bottom call off the show...AGAIN!
Because he WRONG! AGAIN! And the charts of the homebuilders will prove nothing going forward. The charts don't show inventory or REO's, wholsale, Listings, demand, etc, etc...blah, blah....
CRAMER IS BUCKWILD WRONG! AGAIN!!!
Jim Cramer "Buy Alcoa in the high 30's now 10"
Cramer is a good lightning rod for discussion.
But he's a total shill and whore for wall street.
I hope that in the coming years he is often reminded of this latest in a long string of misguided predictions.
The median price is giving a signal that it has bottom because high end homes which prices are normally higher then the median price is falling.
With falling high end prices, people who have been waiting for a long time are starting to trickle in to buy these high end home.
This tricking effect caused by reduced price of high end homes pushes the median price up, even though high end home are just beginning to fall.
As you recall high end homes prices have been artificially pushed up by Alt-A and option Arms loans which are just beginning to reset at low numbers this year.
Novice investors are forgetting that rent are still at all time high in many cities, and these novice investors are jumping in to buy homes that have fallen to 10 years low; however, some of these renters who live in these cities are still using their extended unemployment rate and trying to stay in these cities longer.
What happens when these renters move out of these cities to find work. Will rent prices in these cities also fall back to it 10 years low. If so what will happen to these novice investor who are buying these properties to soon.
Have you forgotten that in the early to mid eighties the Japanese came in to the US to buy during the first housing downturn, only to lost their money in the real US falling house price of the nineties.
"...we will lose 80% of 2006 prices..."
Modesto, CA: down 50% in ONE YEAR.
Bottom? Sure! Two houses on my block bought one year ago by two couples are back up for sale. Why?
One year ago they bought on margin for $115K and 126K and now the houses are worth about 90K.
Underwater mortgage and perhaps losing their incomes also, they now have sale signs back up on their properties.
Why were they allowed to get a mortgage? This is a crime.
Anyone who comes on the air with bells, whistles, horns, and the like is a hack. Nothing more, noting less.
In my book, he discredits himself before he even opens his mouth. All Cramer is missing is the clown suite and make-up. The fact that some people actually take him serious is scary...
Last time, TV == Entertainment
That's why they call it the boob tube. The only part of TV which wasn't entertainment was the news. But those hacks are all bought and sold... I don't trust any of them.
-Silly Monkey
Let's just say is bottom. Ooook !
But I have better things to do with my money than to block them in a house . I dont need a nest, I'm still looking for the excitement part of life. I dont feel more secure just by owning a bunch of brick-and-mortar stuff, stuff that I supposed to pay taxes and maintenance on - a lot. So your call, Cramer, is not for me. IT'S ABOUT WHAT YOU ARE, NOT WHAT YOU OWN !
And for me, Cramer, you're still a guy living in a car down the river :)
Housing price drops might relax this summer, but afterward, we are continuing down.
Southern California's median home price rose slightly in May for the first time in nearly two years. But the increase was more reflective of a change in the types of homes sold than an end to falling values
Silicon Valley home prices rise in May as higher-end market improves
In recent months, sales of previously foreclosed homes in the Bay Area's less expensive communities have formed a large portion of sales, which has helped tug the median price down in many counties.
But in May, sales of more costly homes bounced back a bit, nudging the median price up.
According to DataQuick, homes costing $800,000 or more accounted for 19 percent of the 1,212 sales of previously owned houses in Santa Clara County in May, the highest percentage since December.
Houses costing less than $400,000 fell to 38 percent of sales in May, the lowest level since December.
http://www.dqnews.com/
SO HERE I AM, DOWN AND OUT, SITTING IN THE REC ROOM OF THE HOMELESS SHELTER BECAUSE ANGELO FORECLOSED ON ME. SO I TRADED ANOTHER WINO A $2 BUCK CHUCK FOR THE REMOTE TO DO SOME CHANNEL SURFING, AND WHAT DO I COME ACROSS? CRAMER CALLING THE HOUSING BOTTOM ON CNBC.
JACKPOT, I'M IN THE MONEY!!!
I'M GETTING A HOUSE BACK!!!
I'M RICH AGAIN!!!
RICH, I TELL YA!!!
DOPES!!!
How does raising unemployment rate effect high end homes.
What happens to the people who used up their extended unemployment compensation but still needs it, how are these people who have given up on finding a job going to be counted by the government.
Do you recall that new claims for benefits rose, but total number of people on the unemployment insurance dropped for the first time since early January.
How will these jobless people who no longer get unemployment compensation be able to paid their rent.
What impact will rental vacancies have on rental prices.
If rental price suddenly drops what impact will falling rent have on novice home investors.
What kind of homes do novice home investors live in.
Do the typical novice home investors live in home in good location or bad location.
Do the typical novice home investors live in high end home or low end home.
Unemployment Data: Are We Really Seeing an Improvement?
Now, there are two main reasons continuing claims can fall: the first is that people go back to work, and the second is that people exhaust their benefits and are no longer eligible to collect unemployment.
http://seekingalpha.com/article
/144113-unemployment-data-are-
we-really-seeing-an-improvement
How can a loan go from $98 to $3,500 a month.
http://www.bloomberg.com
Option ARMs Threaten Housing Rebound as Resets Peak (Update2)
Shirley Breitmaier’s mortgage payment started out at $98 when she refinanced her three-bedroom home in Galt, California, in 2007. The 73-year-old widow may see it jump to $3,500 a month in two years.
About 1 million option ARMs are estimated to reset higher in the next four years, according to real estate data firm First American CoreLogic of Santa Ana, California.
About three quarters of those loans will adjust next year and in 2011, with the peak coming in August 2011 when about 54,000 loans recast, the data show.
Option ARM recasts will mean more pain for California, the state with the most foreclosures in the U.S.
Ar you sure that June 30, 2009 is the bottom of the housing market.
http://www.examiner.com/
x-1760-Baltimore-Investing-
Examiner~y2009m6d2-Prime-
Home-Loans-and-the-
Next-Industries-Likely-to-Fall
Prime Home Loans and the Next Industries Likely to Fall
Calling an end to our current bear market is as premature as Jim Cramer's calling an end to the depression fears.
Unemployment will continue to climb. Consumer spending will suffer. And housing is only expected to worsen as more resets rear their ugly heads.
Option ARM chart.
http://images.angelpub.com/
2009/23/2258/resets2009.jpg
Option ARMs: Paying $98 a month on a $350 Thousand Mortgage
http://www.calculatedriskblog.com
/2009/06/option-arms-paying-98-
month-on-350.html
Three more banks made it on the FDIC failed bank list this week.
That makes 40 banks so far this year
http://www.fdic.gov/bank/
individual/failed/banklist.html
First National Bank of Anthony,
Cooperative Bank,
Southern Community Bank,
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