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A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.
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39 comments:
How can anybody hate such a handsome, fun-loving guy.
A picture is worth 1000 words. For him, they are mostly bad.
By HUBBLE SMITH
REVIEW-JOURNAL
Concordia Homes of Nevada has closed its sales offices and will be refunding
deposits on homes that have yet to start construction, an industry source
said today.
The Henderson-based home builder has not gone out business and has not filed
for bankruptcy, but it will not be selling any new homes, Home Builders
Research principal Dennis Smith said.
Established in 1977, Concordia Homes has built homes in Las Vegas, Henderson
and Pahrump, as well as Bullhead City and Avondale, Ariz. "Our success has
always been based on providing people with reasonably priced homes in safe
and tranquil communities that are ideal for raising a family," the company
Web site advertises.
Smith said Concordia is among several home builders that have closed out
subdivisions in Las Vegas Valley, including Pardee, Pulte, KB Home and
Richmond American.
"This is not strictly about demand," he said. "This is also credit. You've
got buyers and you can't get loans approved. What do you do? You close
subdivisions."
Concordia has five active subdivisions in Las Vegas Valley with homes priced
from $195,000 at Aviano to the $300,000s at Sommerset, Nevada's only
solar-powered community.
Home Builders Research reported 829 new home closings in August, bringing
the year-to-date total to 7,324, a 48.3 percent decline from a year ago. The
median new home price of $256,000 in August is down 24 percent from a year
ago.
Smith said he still believes the new home segment in Las Vegas has found the
bottom of the cycle.
"Builders will not sell homes at a loss," he said. "The new home market has
been bouncing along waiting for the resale segment to catch up.
Unfortunately, the deepening credit mess is causing a lot of hestitation and
insecurity with consumers."
Yes, we DO tend to forget Angelo and Countywide during the international financial meltdown, but just so we don't forget, here is a nice little piece from Bloomberg -
Home-Equity Losses
JPMorgan, which expects home-equity losses of as much as $800 million over the next several quarters, cut originations 51 percent in the third quarter to $2.6 billion.
Non-performing subprime mortgages grew 39 percent to $2.4 billion and the bank reported $273 million of bad debt in the third-quarter. Losses on the loans could be as much as $425 million in early 2009, the company said.
Prime mortgages had their biggest third-quarter losses on loans originated in 2006 and 2007, with California and Florida accounting for 80 percent of the total. The company charged off $177 million, up from $9 million a year ago, and expects that number to climb to $300 million next year.
MARK = Hmmmm. . .prime mortgages??? Who would have thought?? I guess if your 600K house with 10% down is now worth 400K and dropping like a rock (Las Vegas, Phoenix, San Diego, etc.) you just might walk away. . .
I'm still smilin' cause I've got my $500 million.
Dopes!
Obama To SPREAD THE WEALTH AROUND
he tells the plumber.
Barry Hussien OB is a Naked MARXIST
http://www.breitbart.tv/?p=195153&comments=1#comments
Is he still in the States? I would have moved by now to a country without extradition treaties with the USA if I were him.
Obama To SPREAD THE WEALTH AROUND
he tells the plumber.
Barry Hussien OB is a Naked MARXIST
http://www.breitbart.tv/?p=195153&comments=1#comments
-----------------------------------
and he keeps telling people he is going to give a tax cut to 95% of americans.
Pretty amazing trick considering that only 62% pay taxes.
This well-educated, immaculate dressed, financial wizard, of a gentleman represents the common trait of the Americano; the temporary occupants of the land of the famous Great Snapper Turtle.
CFC = Americano
Stupid Question of the Day:
If you, the taxpayer, now own bailout shares in the bank that is foreclosing on you, does that mean that you're now foreclosing on yourself?
If George Bush and Dick Cheney can get away with genocide...
Why should Angelo have to go to jail?
You know. I really do not hate the guy. I used to look at him and think oompa loompa and thought he would make a great mascot for the Syracuse Orange, but now it's kind of pathetic.
I think that in his mind he believed that real estate always went up. Just think about it. The MSM, realtors, mortgage brokers, bankers, wall street congress,the house, clinton, bush, and most everyone else here and globabally, cheered as real estate prices went up and up and up.
Is it not possible he was just really economically ignorant and stupid, like most everyone else?
He made money sure, he sold off his company stock, sure. But this was not hidden information, it was public.
I make money as stocks, and 401k's go down. Does that make me an asshole? People are losing thier retirements and I'm profiting, am I "evil"?
What I'm saying is that when you get emotional you lose objectivity. And most all these phonies, flippers, people with IO's and ARMs got overly emotional, drank the kool aid and believed thier own self bullshit hype.
Scottsdale, AZ was a microcosm of the US and world economy; DEBT.
Last time I checked debt was the opposite of wealth.
And I looked, and behold a pale horse:
and his name that sat on him was Death,
and Hell followed with him.
And Power was given unto them over the
fourth part of the earth, to kill with the sword,
and with hunger, and with death,
and with the beasts of the earth.
Revelation 6:8
Gotta hand it to the Orange One -- looks like he is getting away cleaner than Skeeter's peter. Avoiding his moment in the sun was something we thought he would never do.
All hail the Orange Man -- a genuine american hero.
That face is at least $1 mil in plastic surgery on our dime.
And still hideous.
Thanks, Asshole!
Keith,
True story. My boyfriend and I were on Fox Greta Van Sustran's blog Greta Wire. We were messing around with what we thought were racist republicans.
I couldn't believe while we were blogging somehow Greta's people could be heard on our speakers, they were blogging. FAKE BLOGGERS. I KNEW SOMETHING WAS FISHY BECAUSE AMERICANS NO WAY WOULD NOT KNOW A LOT OF INORMATION THEY WERE SPREADING ON THE BLOG.
Weird thing someone else posted at that moment: I just heard Greta? Did anyone else hear?
They said streamlining, getting on line.
They were posting the bullshit fake comments.
the comments had to much information on acorn, michelle and barack. Someone had mention a woman's name saying that Barack had an affair.
You know this is just weird that we heard them talking.
Can anyone comment on this who knows a lot about computers? How did that happen?
Anyway what assholes spreading false rumors and leaking information of lies that could not get back directly to them.
Thanks Keith, I just printed out the picture and used it in the bathroom.
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=110297524831&ssPageName=STRK:MEWA:IT&ih=001
Might be a good time to buy some real estate the next time you're in Russia Keith.
LOTS of houses listed on ebay now. Used to be maybe 20, now 895.
Prices coming way down on some fairly decent stuff.
People coming in my store all think things are going to get 'back to normal' after elections, no matter who is elected, and that real estate will go back up.
Debates starting.
Jail Jail Jail Jail Jail Jail Jail!
Is that a secret decoder ring he's wearing?
.
Now there's a SHIT-Eatin grin!
.
"...You've
got buyers and you can't get loans approved..."
Pssst>>>those aren't "buyers"; they're poseurs and scammers.
Just like they were 5 years ago, but now an entire scam industry has collapsed behind them.
As if McCann would EVER really speak to a low-life Plumber-
NOT!!
Obama's new slogan.....
Trickle up poverty
Hey that's cool. I've got a nice formal portrait of Herbert Hoover on my desktop for inspiration.
That's one dapper and dandy fellow (and quite the lady's man, from what I hear)....
umpa-lumpa...
I can't stop laughing.
He's laughing too, good thing BA is too big to fail.
Obama To SPREAD THE WEALTH AROUND
he tells the plumber.
Barry Hussien OB is a Naked MARXIST
Uh, it's spelled Hussein.
And don't be fooled: that plumber must be making over $250k a year, if he's worried about taxes under Obama!
My brother is a plumbing contractor (does new construction) who runs his own business with (5) employees, and trust me, he's making serious change.... Yeah, the trades are hard labor and all, but most plumbers make more than most of you. After all, it's nasty work: how much would YOU demand to do it?
AHHHH!!!! My EYES!!!
Hey, he can spend all his money on botox for that face. OMG!
I think right before the banks upper management get sent to jail they are all going to blame mozillio and those like him for their demise
and at that time mozillio will either die a natural death or become a fugitive
he is worse than that nut from enron and did 100000 times more damage to our financial system
As a former employee of that orange piece of satan's feces, all I have to say is, please help us all.
Ol' Grampa Umpa Lumpa and his clone army are grinning like a cheese whiz cake shining the sun, thinking: Heh heh heh, sweet as.....just creamed these puff pastries for everything they had and then some, time for seconds baby!
what are you smiling at?
He's laughing all the way to the bank.
I just lost my lunch. Thanks a lot Keith.
he doesn't look quite as Orange as he usually does...perhaps his bowtie color provides some context? perhaps he forgot the spray on appointment that day?
Looks just like a new car dealerslipittoya salesmanager!
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