tag:blogger.com,1999:blog-18675105.post117094162921121835..comments2023-12-30T10:06:37.450+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: BUBBLETALK: Fresh thread to talk about the Late Great Housing Ponzi Schemebloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger440125tag:blogger.com,1999:blog-18675105.post-2025434034950476822007-02-25T18:40:00.000+00:002007-02-25T18:40:00.000+00:00This was a much better thread than most of the oth...This was a much better thread than most of the othersAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-49076314464581828152007-02-25T08:03:00.000+00:002007-02-25T08:03:00.000+00:00Moody's eyes downgrade for Home LendersSubprime mo...Moody's eyes downgrade for Home Lenders<BR/><BR/>Subprime mortgage lender Accredited Home Lenders Holding Co. expressed disappointment Thurday after Moody's Investors Service said it is considering downgrading the company's service quality rating.<BR/><BR/>http://www.businessweek.com<BR/>/ap/financialnews/<BR/>D8NETT000.htmAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-74294535766101642362007-02-25T07:58:00.000+00:002007-02-25T07:58:00.000+00:00Bill targeting cash-back mortgage deals moves forw...Bill targeting cash-back mortgage deals moves forward <BR/><BR/>Legislation to make mortgage fraud a felony is one step closer to becoming law.<BR/><BR/>A bill that would make the "white-collar crime" a felony punishable by up to 10 years in prison passed in the Arizona state Senate last week. The legislation, introduced by Sen. Jay Tibshraeny, R-Chandler, now must clear the House. <BR/><BR/>The mortgage-fraud legislation was prompted by the recent wave of mortgage fraud in the Valley centered on cash-back deals.<BR/><BR/>Those schemes involve getting a mortgage for more than a home is worth and pocketing the extra cash. The deals inflate home values and potentially values across entire neighborhoods. Homeowners stuck with overpriced mortgages may never recover the difference and may not be able to hold onto their homes.<BR/><BR/>Lenders end up with the bad loans. Mortgage fraud could hurt not only Arizona's real estate market but also the state's overall economy.<BR/><BR/>The mortgage-fraud legislation, Senate Bill 1221, makes it a Class 4 felony to commit residential mortgage fraud and a Class 2 felony to engage or participate in a pattern of that type of fraud. This Class 4 felony would be punishable by 1 1/2 to three years in prison; Class 2, four to 10 years.<BR/><BR/>http://www.azcentral.com/<BR/>arizonarepublic/business/<BR/>articles/0225biz-<BR/>catherine0225.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-46779082601452861692007-02-25T07:55:00.000+00:002007-02-25T07:55:00.000+00:00California Tops List of Subprime Mortgage Foreclos...California Tops List of Subprime Mortgage Foreclosure Risk<BR/><BR/>Four of the five metro areas expected to experience the highest foreclosure rates for subprime mortgages originated in 2006 are California cities. The top five metro areas, along with their corresponding projected foreclosure rates are: <BR/><BR/>Merced, CA (25%) <BR/><BR/>Bakersfield, CA (24.2%) <BR/><BR/>Vallejo-Fairfield, CA (23.8%) <BR/><BR/>Las Vegas, NV (23.7%) <BR/><BR/>and <BR/><BR/>Fresno, CA (23.5%)<BR/><BR/>Of the top 15 metro areas projected to see the largest increase in foreclosure rates for subprime mortages (comparing the projected foreclosure rates for loans orginated between 1998-2001 and those originated in 2006), 14 are in California. <BR/><BR/>The areas with the largest projected increase in foreclosure rates are: <BR/><BR/>Santa Ana<BR/>Anaheim<BR/>Irvine <BR/>Santa Barbara<BR/>Santa Maria <BR/>San Diego<BR/>Carlsbad<BR/>San Marcos<BR/><BR/>http://www.muninetguide.com<BR/>/articles/California-Tops-<BR/>List-of-Subprime-203.phpAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-81313264377377829312007-02-25T07:51:00.000+00:002007-02-25T07:51:00.000+00:00Tri-State Foreclosure Considered "Epidemic" If you...Tri-State Foreclosure Considered "Epidemic" <BR/><BR/>If you own a house, you need to know that a lot of homeowners are finding it harder to hold on to that home. <BR/><BR/>The foreclosure rate is so staggering in the Buckeye State, it's being called an "epidemic," and it's effecting even those of you who can afford your home. <BR/><BR/>9News found that Ohio has the highest foreclosure rate in the country. What it comes down to is that people don't realize they are buying more than <BR/><BR/>A sheriff's auction is not how any homeowner wants their house to be sold, but if you can't pay your bills your house will eventually end up for sale at an auction like those in Butler County. <BR/><BR/>The 9News investigation showed about 200 houses were foreclosed in Butler County in 1995. <BR/><BR/>In 2006, the number jumped 550% to 1,300. <BR/><BR/>The situation is similar in Hamilton County, where in 1995 there were 1,300 foreclosures. In 2006, there were 5,700. <BR/><BR/>http://wcpo.com/news/2007/<BR/>local/02/23/<BR/>foreclosure.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-46161622085765917662007-02-25T07:37:00.000+00:002007-02-25T07:37:00.000+00:00S&P Puts Countrywide 'Alt-A' Bonds Under Review As...S&P Puts Countrywide 'Alt-A' Bonds Under Review <BR/><BR/>As the mounting number of delinquencies begins to bleed from the subprime market into the “Alt-A” category, Standard & Poor announced that it had put a number of bonds backed by Countrywide Financial Corp. on review.<BR/><BR/>www.mortgageledger.com/<BR/>modules.php?<BR/>name=News&new_topic=14Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-10650599472664947452007-02-25T07:05:00.000+00:002007-02-25T07:05:00.000+00:00SunTrust Mortgage is now ranked 14th in total mort...SunTrust Mortgage is now ranked 14th in total mortgage originations and ninth in purchase mortgage originations, according to the president and CEO.<BR/><BR/>The one dark spot in his outlook for 2007 involves the deteriorating credit quality of alt-A loans, which includes IO and option ARMs, stated-income and piggyback loans.<BR/><BR/>“Our delinquencies are up,” said Mr. Edmunds, “but not as high” as the industry averages.<BR/><BR/>However, it appears that alt-A performance is “as bad as subprime loans or close to it,” he said. “Some of the alt-A and subprime companies have shut down because the buybacks are so heavy.”<BR/><BR/>http://www.suntrustmortgage<BR/>careers.com/retail/news0123<BR/>2007.aspAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-38595257757156946682007-02-25T06:23:00.000+00:002007-02-25T06:23:00.000+00:00FDIC Data Tells Me to Avoid FinancialsThe FDIC hea...FDIC Data Tells Me to Avoid Financials<BR/><BR/>The FDIC headline read, "Insured Banks and Thrifts Report Record Earnings in 2006" - Net operating income was up 4.0% in 2006, but was down 11.6% in the second half of the year - To me that's a major turnaround!<BR/><BR/> <BR/><BR/>Under the Hood, FDIC Data Puts Wrinkles on Goldilocks! Banks are increasing their lending to developers to build new homes and condos, while demand continues to slump. This is happening because communities planned and started two to four years ago are not yet completed. Incomplete homes can not be sold to a homebuyer, and thus banks want projects to be completed. If this stress continues the economy could suffer, and weakness could spread beyond the housing market. <BR/><BR/>Number: The number of FDIC-Insured Institutions is declining as mergers exceed new charters.<BR/><BR/>Assets: Decelerating Asset Growth. At the end of 2006 the banking system had $11.860 trillion in assets with slowing sequential growth<BR/><BR/>Loans Secured By Mortgages: A sign of a slowing economy. Slowing sequential growth<BR/><BR/>1-4 Family Residential Mortgages: A sign of a slowing economy. Slowing sequential growth<BR/><BR/>Commercial Loans: Loans for office buildings was rising sequentially, but stalled in Q4.<BR/><BR/>Residential Construction and Development Loans: Slowing sequential growth but up 25.6% YOY, while demand for new Homes is down at least 30%.<BR/><BR/>Reserves for Losses: Turned negative sequentially in Q4.<BR/><BR/>Other Real Estate: This is a small absolute level, but the FDIC is likely worried about the 8.8% sequential increase and the 48.4% year-over-year rise. This is where loan collateral such as land gets hidden.<BR/><BR/>30-89 Day Past Due: Up 14.3% sequentially and 22.6% year-over-year.<BR/><BR/>Non-current: Up 8.0% sequentially and 13.6% YOY.<BR/><BR/>Net Operating Income: Peaked in Q2 at 37.6 billion. Declined 9.4% sequentially in the Q4<BR/><BR/><BR/>Summary of Data for the 1,256 Publicly- Traded FDIC-Insured Financial Institutions<BR/><BR/>* 450 (35.6%) have exposure to residential construction and development loans above the FDIC-monitored guideline of 100% of risk capital. 175 have exposures above 200%. <BR/><BR/>* 612 (48.7%) have exposure to CRE loans (residential plus commercial) above the FDIC-monitored guideline of 300% of risk capital. <BR/><BR/>www.rightsideadvisors.com/<BR/>feed/commentary.aspx?<BR/>Path=/rsa/commentary/blog/2<BR/>0070223_082440_msg.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-49591068878635347582007-02-25T06:13:00.000+00:002007-02-25T06:13:00.000+00:00BOJ rate rise could be good news.The decision by t...BOJ rate rise could be good news.<BR/><BR/>The decision by the Bank of Japan (BoJ) to raise interest rates to 0.5% earlier in the week may serve to stimulate the Japanese economy rather than act as a break in the way that monetary tightening often affects other major economies. <BR/><BR/>Notably, the Japanese are assiduous savers and are not burdened by debt like their Western counterparts. Consumers’ being paid additional interest on their savings is bullish for domestic demand.<BR/><BR/>http://www.easier.com/view/<BR/>Finance/Investments/Funds/<BR/>article-102120.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-54083585502101774792007-02-25T05:42:00.000+00:002007-02-25T05:42:00.000+00:00US CREDIT-GMAC spread widenThe cost of insuring bo...US CREDIT-GMAC spread widen<BR/><BR/>The cost of insuring bonds issued by GMAC, the former finance arm of General Motors Corp., jumped this week on concerns about the subprime mortgage sector, where Residential Capital Corp., GMAC's mortgage finance holding company, operates.<BR/><BR/>On Thursday, GMAC was downgraded to "underweight" by Merrill Lynch & Co. analysts, who cited problems in the subprime mortgage sector. Such mortgages make up nearly a third of finance receivables and loans at GMAC, Merrill said.<BR/><BR/>Merrill's analyst also said that GMAC is now unlikely to achieve an investment-grade rating this year, and recommended investors hold 30 percent fewer GMAC bonds in their portfolios than benchmark indexes.<BR/><BR/>Credit default swaps for GMAC and ResCap have widened since the analyst downgrade<BR/><BR/>The cost to insure GMAC's debt rose about 16 basis points on Friday to 123.5 basis points, meaning it costs $123,500 annually to protect $10 million on a five-year basis. GMAC's default swaps rose 6 basis points during Thursday's session.<BR/><BR/>Credit protection on ResCap was quoted at about 11 basis points higher on Friday at 137.5 basis points, after jumping 20 basis points on Thursday.<BR/><BR/>A second factor likely weighing on GMAC's spreads is "the fact that GMAC is supposed to release their numbers" soon, a corporate bond trader said.<BR/><BR/>GMAC said earlier this month it would restate its financial results back to 2001 because of problems with its accounting for interest-rate hedges. <BR/><BR/>http://www.reuters.com/<BR/>article/bondsNews/<BR/>idUSN2359494620070223?<BR/>pageNumber=2Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-81881614462561406752007-02-25T05:36:00.000+00:002007-02-25T05:36:00.000+00:00Subprime Credit Quality Submerging GIVEN THE DETER...Subprime Credit Quality Submerging <BR/><BR/>GIVEN THE DETERIORATION EXPERIENCED of late in the subprime-mortgage sector, we thought it timely to update our work.<BR/><BR/>We first looked at our companies' subprime exposure in August 2006. The 2006 vintage is now performing substantially worse than in prior years, spreads on subordinated subprime securities have widened by 700-plus basis points, and 23 companies have failed and another half dozen have been acquired.<BR/><BR/>The pressure on the subprime segment is now coming from almost every direction, starting, of course, with the deterioration in credit quality. <BR/><BR/>http://online.barrons.com/<BR/>google_login.html?url=http%<BR/>3A%2F%2Fonline.barrons.com%<BR/>2Farticle%<BR/>2FSB117219030404416705.html<BR/>%3Fmod%3Dgooglenews_barronsAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-21038342500684063952007-02-25T05:32:00.000+00:002007-02-25T05:32:00.000+00:00Anyone think that Ten-year swap spreads can widene...Anyone think that Ten-year swap spreads can widened another 0.75 basis point on Monday? <BR/><BR/>U.S. interest rate swap<BR/>spreads widened on Friday amid worries of a potential spillover<BR/>of problems from the U.S. subprime mortgage sector.<BR/> <BR/>Traders said volatility in the swaps market was related to the pricing of commercial mortgage-backed securities (CMBS)<BR/>deals and associated hedging.<BR/> <BR/>The subprime industry, which provides loans to borrowers with weak credit, has been hit by defaults as home prices<BR/>slump. <BR/><BR/>Nearly 20 mortgage companies operating in the sector have faltered.<BR/> <BR/>"There is some concern about potential spillover from the subprime market and that has caused spread widening," said<BR/>Fidelio Tata, interest-rate derivatives strategist at RBS Greenwich Capital in Greenwich, Connecticut.<BR/> <BR/>"There is also some volatility associated with CMBS pricing and associated hedging," he said.<BR/> <BR/>Swap spreads were 0.75 to 1.75 basis points wider compared to Thursday's late levels. Ten-year swap spreads widened 0.75<BR/>basis point to 52 basis points.<BR/><BR/>http://www.reuters.com/<BR/>article/bondsNews/<BR/>idUSN2326634820070223Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-57978727136100350282007-02-25T05:05:00.000+00:002007-02-25T05:05:00.000+00:00Mexicans into the (California housing market) brea...Mexicans into the (California housing market) breach!<BR/><BR/>http://www.californiaprogressreport.com/2007/02/california_need_1.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-12065031400998838872007-02-25T04:12:00.000+00:002007-02-25T04:12:00.000+00:00While in office, Vaden approved the purchase of a ...While in office, Vaden approved the purchase of a $143,500 software program that requires employees to manually transfer data from about 2,500 older but active foreclosures into the new system."<BR/><BR/>"'My staff has been held captive in having to migrate data physically from that old system to the new system and be attentive to new packets,' O'Malley said. 'It is a lot of work.'"<BR/>+++++++++<BR/>This is so freaking typical of bureaucracies. Stupid managers buy new software but they won't hire the employees necessary to implement the new program. Somehow, they think the current employees will "magically" be able to do twice or three times the amount of work in the same period of time. Idiots!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-14642511063006331402007-02-25T03:27:00.000+00:002007-02-25T03:27:00.000+00:00This comment has been removed by a blog administrator.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1147105138116739122007-02-24T23:14:00.000+00:002007-02-24T23:14:00.000+00:00I went to an open house up in Hollywood (CA) where...I went to an open house up in Hollywood (CA) where I get my smokes.<BR/><BR/>It was being sold by Keller Williams Realty.<BR/><BR/>Is is not listed on the Keller Williams website nor is it listed in the MLS listings.<BR/><BR/>The house is a true POS with a flipper remodel IMO. Bamboo Floors...Granite Tile Counters. 1400sf approx. Dirt for a back yard. @5000sf Lot.<BR/><BR/>The flyer provided by the realtor listed the asking price at $800,000 - $1,300,000.<BR/><BR/>Quite a spread eh?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-42535610192091257842007-02-24T22:53:00.000+00:002007-02-24T22:53:00.000+00:00This has to be happening all across the nation.Thu...This has to be happening all across the nation.<BR/><BR/>Thursday, February 22, 2007<BR/>"Massive Backlog" In Denver <BR/><BR/>The Rocky Mountain News reports from Colorado. "Hundreds of foreclosures in Denver are on hold because of a massive backlog in the Clerk and Recorder's Office, putting lenders in a 'precarious position' and forcing the city to hire more help. On Wednesday, 661 foreclosure packets, which are supposed to be recorded within 10 days, were more than two weeks past due, according to an internal report obtained by the Rocky Mountain News."<BR/><BR/>"The problem is so bad that employees are working weekends to catch up and fielding urgent pleas from law firms handling foreclosures. 'I'm desperate!' starts off one e-mail to the clerk and recorder. 'I have a (Department of Housing and Urban Development) title package that has to be sent out tomorrow.'"<BR/><BR/>"Interim Clerk and Recorder Stephanie O'Malley said she inherited the problem when she was appointed to the post Jan. 9 by Mayor John Hickenlooper. 'The only thing I could do was say, 'I need to get more people in here to help move this process along,' and that is what I've done,' she said."<BR/><BR/>"O'Malley, who is running for the seat in May, said there are two factors contributing to the backlog. First, foreclosures in Denver have tripled since 2002."<BR/><BR/>"The other factor delaying Denver foreclosures points to former Clerk and Recorder Wayne Vaden, who resigned in the wake of the disastrous Nov. 7 election. While in office, Vaden approved the purchase of a $143,500 software program that requires employees to manually transfer data from about 2,500 older but active foreclosures into the new system."<BR/><BR/>"'My staff has been held captive in having to migrate data physically from that old system to the new system and be attentive to new packets,' O'Malley said. 'It is a lot of work.'"<BR/><BR/>"Rhonda Stewart, a deputy public trustee, said it used to take 10 minutes to process a foreclosure. With the new software, it now takes about 30 minutes, she said."<BR/><BR/>"Metro-area law firms that handle foreclosures and do business with the city either declined to comment or did not return calls. But in e-mails obtained by the Rocky, it is clear the backlog has put them under pressure. 'I know HUD could refuse title if we don't get it to them,' states another e-mail."<BR/><BR/>"HUD requires that all documentation, including the original or certified copy of a deed, be submitted within 45 days of the request for deed recording."<BR/><BR/>"O'Malley said the backlog 'doesn't bode well for the community.' 'When you just have these properties sitting there dormant, from a community standpoint, that's not a good thing,' she said."<BR/><BR/>"The delay also hurts business. 'If you have a piece of property out there that's (on hold), the lender is put in precarious position because now they're sitting on a piece of property of which they're not getting any revenues,' O'Malley said. 'There's no payment on the mortgage,' she said. And so their goal, of course, is to move the property so that they can get a return on their investment."Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-47014075112422161492007-02-24T22:28:00.000+00:002007-02-24T22:28:00.000+00:00I believe the economic strength will outweigh the ...I believe the economic strength will outweigh the fears in many of the U.S. housing markets. Just look at the article posted in the NY Times on monday, the strong local enonomy and job growth has quickly turned a second half of '06 slowdown to a Jan/Feb 2007 rally due to pent up demand. Many which they would have gotten in earlier, hindsight is 20/20. If you're on the fence may be a good time to buy. You'll make a lot more money as a contrarian than a sheep.<BR/><BR/>http://drbrightside.blogspot.com/2007/02/hit-links-on-saturday.html#linksDr. Brightsidehttps://www.blogger.com/profile/10672083388553872666noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-52083515880714007812007-02-24T18:35:00.000+00:002007-02-24T18:35:00.000+00:00This comment has been removed by a blog administrator.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-37703062068268816132007-02-24T07:39:00.000+00:002007-02-24T07:39:00.000+00:00“ResMae Mortgage Corp. may be on the cutting edge ...“ResMae Mortgage Corp. may be on the cutting edge of a trend in the U.S. subprime-loan industry. It’s bankrupt and selling assets for pennies on the dollar.”<BR/><BR/>“ResMae, which made home loans to people with bad credit, will be auctioned off next week. The opening bid, by Credit Suisse Group, is $19.1 million, less than half the size of an offer received by ResMae before it went bankrupt Feb. 13.”<BR/><BR/>“More than 100 other lenders will go out of business this year, said Doug Duncan, chief economist of the Mortgage Bankers Association in Washington. Many will be subprime lenders, victims of loans to borderline borrowers last year.”<BR/><BR/>“‘Loans in 2006 will be the worst we have ever seen in the business,’ said Matthew Howlett, an analyst who covers the subprime market for an investment bank. ‘The underwriting quality was disastrous.’”Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-52376696717613845032007-02-24T00:53:00.000+00:002007-02-24T00:53:00.000+00:00Keith,HouseBubble.com is now in chinese. Maybe th...Keith,<BR/><BR/>HouseBubble.com is now in chinese. Maybe the link on your blog is no longer necessary.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-84349556615878078022007-02-24T00:14:00.000+00:002007-02-24T00:14:00.000+00:00Gold is nearing 700 mark today.Is the Fed finally ...Gold is nearing 700 mark today.<BR/><BR/>Is the Fed finally losing its credibility?<BR/><BR/>With Wednesday’s data release that showed that the increase in “core” CPI in January was higher than expected, the price of gold soared by over $20 per ounce.<BR/><BR/>My guess is that the market is calling the Fed’s bluff. Gold investors may have finally concluded that when it comes to fighting inflation, the Fed is all bark and no bite. Despite the tough talk, many are now convinced that Bernanke will not risk pushing the U.S. economy into recession in an effort to contain inflation. <BR/><BR/>With the sub-prime mortgage market unraveling, the last thing the Fed wants is to add kerosene to the fire in the form of higher interest rates. <BR/><BR/>If gold investors now believe that the Fed will tolerate higher inflation, then any signs of heightened inflation can now be seen as purely bullish for gold. <BR/><BR/>This is an extremely significant development with profound implications for U.S. financial markets, particularly long-term bonds, the housing market, and the entire U.S. economy. <BR/><BR/>If investors are finally wising up to the Fed’s bluster, a run on the dollar can not be too far off. To maintain international confidence in our currency, the Fed must be credible in its resolve to fight inflation. <BR/><BR/>If our foreign creditors decide that “Helicopter” Ben is more concerned about keeping housing prices up than he is about keeping consumer prices down, they will rush for the exits. <BR/><BR/>http://news.goldseek.com/<BR/>EuroCapital/1172250090.phpAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1763057011699577952007-02-23T23:47:00.000+00:002007-02-23T23:47:00.000+00:00Who said the problems in the subprime market can n...Who said the problems in the subprime market can not spread to main street mortgage business?<BR/><BR/>Bank of America says it saw short sales of homes increase 25% last year, albeit from relatively low levels. In San Diego, the number of entries in the local multiple-listing service that include the words "short sale" has climbed to 129 from 50 a little more than a year ago, according to Sandicor, the local multiple-listing service.<BR/><BR/>www.realestatejournal.com/<BR/>buysell/mortgages/<BR/>20070221-simon.html?<BR/>mod=RSS_Real_Estate_Journal<BR/>&rejrss=frontpageAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-24650722373698014332007-02-23T23:23:00.000+00:002007-02-23T23:23:00.000+00:00"‘I am shell shocked after the conference that too..."‘I am shell shocked after the conference that took place yesterday, and quite annoyed that I participated in the collective hallucination that led so many into such a disaster.'’"<BR/><BR/>I just threw up inside my mouth.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-23859955440411693242007-02-23T23:14:00.000+00:002007-02-23T23:14:00.000+00:00"this is all better than a "B" movie this is only ..."this is all better than a "B" movie this is only beginning"<BR/><BR/>Hey Keith, we need HP's video taping these crazy open houses to post on this blog. That would be entertaining.Anonymousnoreply@blogger.com