Monday, January 28, 2008

60 Minutes: House of Cards

Great Video from 60 Minutes: House of Cards

6 comments:

  1. wow did you read this:

    US mortgage crisis creates ghost town
    http://www.breitbart.com/article.php?id=080127183107.ahcwfxrz&show_article=1

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  2. Thought on countrywide's new policies of catagorizing areas by risk. They must paint with a wide brush or they run the risk of being prosecuted for redlining laws.

    Thus, their solution of grouping by counties and/or entire metropolitan regions. Its perfectly legal to coordon off all of DC as their 'category 4.' But it wouldn't be legal to do so by street or zip code. It is no longer legal to 'quarantine' just the problem areas; they must quarantine the whole metropolitan area. This is an interesting side effect of socializing the risk.

    https://www.cwbc.com/ContentManaged/files/
    SoftMarkets.pdf

    Got popcorn?
    Neil

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  3. Dear MSM,

    Welcome to the party.

    ReplyDelete
  4. While I seriously doubt it is the case here, there have been a number of cases where the MSM jumps on a story right at its peak and things turn around from there. I guess we shall see.

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  5. Dear MSM,

    Welcome to the party.


    Lol...

    Now I remember a long time ago Realtors (tm) were complaining about the news coverage. Now that the MSM is just starting to say it how it is.

    Will tomorrow's expected 75 bps cut in the rate be countered by bond insurer downgrades? Ghad that has serious implications...

    Sadly, Interesting times.

    Got popcorn?
    Neil

    ReplyDelete
  6. i saw on cnbc this morning that they were using this 60 minutes piece and the new Newsweek cover as "Pop Culture" evidence that the housing market has bottomed.

    The FIRST SIGN of media coverage and the damage is done, huh?

    ReplyDelete