YaHoo Finance – Foreclosure limbo: Staying without paying Charles and Jill Segal have not made a mortgage payment in nearly five years — but they continue to live in their five-bedroom West Palm Beach, Fla. home. Lynn, from St. Petersburg, Fla., has been living without paying for three years. In Thousand Oaks, Calif., an actor… Continue reading The Foreclosure Mess
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Comment Jim Bianco was on CNBC yesterday discussing Bernanke. To view the interview click on the image above. To view any of our recent interviews click here. Unfortunately there was a technical problem that kept us from the discussion above until the last quarter. So let us fully explain why we think Bernanke should go. … Continue reading Should Bernanke Go?
Dallas Federal Reserve – Containing (or Restraining) Systemic Risk: The Need to Not Fail on ‘Too Big to Fail’ (With Reference to Margaret Thatcher, Geoffrey Howe, Irving Kristol, Joe Nocera, Bastiat, Nietzsche, Mencken and Sandy Weill) Remarks before the Market News International Seminar I confess that in matters of monetary policy and regulation, I am… Continue reading Is The Federal Reserve Ever Right?
<Click on graphic for larger image> <Click on graphic for larger image> <Click on graphic for larger image> Calculated Risk (blog) – CoreLogic House Price Graph, Real Prices, and Prices and Month-of-Supply This graph shows the national CoreLogic HPI data since 1976. January 2000 = 100. The index was up 0.7% in April, and is… Continue reading Home Prices
The Wall Street Journal – Illinois Tax Firesale Illinois gained nationwide notoriety in January when Governor Pat Quinn signed into law a 67% hike in the personal income tax rate while lifting the corporate tax rate to 9.5%, the fourth highest in the nation. How is that working out? The good news is that corporate… Continue reading Tax Hikes Not Going Over Too Well In Illinois
<Click on chart for larger image> MarketBeat (WSJ Blog) – Stock Market Held Hostage: Day Six The market has now been down for six trading days in a row, the same amount of time it took God to make the universe. The last time this happened, according to S&P’s Howard Silverblatt, was the ugly, dark… Continue reading 6 Consecutive Days Of Losses For Stocks
The Wall Street Journal – Rents on the Rise Again The dog days of summer are back for apartment renters. The Manhattan vacancy rate in May fell to 0.7%, its lowest level in nearly five years, according to broker Citi Habitats. Landlord concessions, such as a free month’s rent for signing a new lease, have… Continue reading Rising Rents
MarketBeat (WSJ Blog) – Bill Gross Sees Potential Dollar Crisis Pimco’s Bill Gross is speaking at an investor conference in Chicago. Here are the headlines crossing the wire: DJ Pimco’s Gross: Questions If ‘Inflating’ Economy Via QE Is Good Idea DJ Pimco’S Gross: Real Interest Rates Have Dropped To ‘Staggering’ Levels DJ Pimco’s Gross: Falling… Continue reading The Abridged Thoughts Of Bill Gross
The Wall Street Journal – Eyes on Goldman-Libya Dealings U.S. securities regulators are examining whether Goldman Sachs Group Inc. and other financial firms might have violated bribery laws in dealings with Libya’s sovereign-wealth fund, according to people familiar with the matter. Enforcement lawyers at the Securities and Exchange Commission are reviewing documents that detail the… Continue reading Goldman’s Dealings With Libya
FT Alphaville (FT Blog) – When algorithms fight, natgas edition It’s not an earthquake. It’s last night’s mini-crash in natgas futures, via Zero Hedge…“It looks like two computers getting into a competition with each other” one market-watcher told Reuters.
Bloomberg.com – Ex-SAC Capital Manager Tells Jiau Jury of Hallucinogenic Trip A former SAC Capital Advisors LLP portfolio manager, testifying at an insider-trading trial, said that on a business trip he ingested a hallucinogenic mushroom that resulted in his wandering around the streets of San Francisco in his underwear.Noah Freeman, 35, who pleaded guilty to… Continue reading The Exciting Lives Of Hedge Fund Managers