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November 13, 2007
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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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82 comments:
Good possibilities:
3) tangelo wearing his pimp suit
2) David Liarreah
1) that schlub harangued by wifeharpy and ""Suzanne""
the future winner:
0) tangelo wearing the government's jumpsuit
1) TIME cover
2) Casey Serin
Either the H2 or the Escalade.
Gotta hand it to GM for cashing in on the realtwhore cult, even though it's not enough to save GM.
(And I'm sure GMAC is getting screwed on car lease defaults.)
For the man in the street - The picture of 10 For Sale signs. . .for HP'ers, Angelo!!!
We can do this! Suzanne researched it!
“Martinez said struggling borrowers have flocked to his office asking for help. ‘They can’t read English. Whatever people told them, they believed,’ he said. ‘They were misled to think they would be able to refinance. When they go to refinance, they find out about the prepayment penalty.’”
“One case involves people who make $40,000 a year making sandwiches at Togo’s. They bought a $680,000 home and can’t afford it.”
“He advises borrowers to stay in their homes even if they can’t make payments. ‘I know a house in Hollister where three families are living together, 20 people in one house,’ he said.”
War is over (if you want it).
Vote Ron Paul 2008.
Slight mod on first poster;
WAS:
1) that schlub harangued by wifeharpy and "Suzanne".
IS:
1) Scrub that haggard sink wifharpy, and "Suzanne" it too!
Greenspan will be the icon for a global depression. People will look back on this period in remembrance of why the Fed and fractional reserve banking was abolished. In some strange way, if things were to get bad enough globally, the whole world might wake up to the scam of fractional reserve lending, and abolish the central banks worldwide. Greenspan may have unwittingly caused a global gold standard that could evolve from all of this. Really Bush should have been putting a noose around his neck instead of a medal.
Naturally, I am partial to the Bagdad Bob image.
The Realtors and brokers on Swann's site are making "arguments" about how we bubble sitters were wrong all along.
When you read them you can picture a small child yelling, "I hate you daddy!" just before stomping down the hallway and slamming the bedroom door behind them.
Oh boy, I'm in a difficult dilemma here, split between Suzanne and Casey. Tough call...but Casey might have an edge.
I also love some classics presented by the occasional trolls that drop in from time to time to amuse us with gems like:
"I saw people buying Krispy Kreme and iPhones, so the economy must be great."
I vote for the "Flip that house" logo.
It's a tie between Orangello and flipping houses. I think flipping houses wins out. It will become the phrase of the decade.
Wow. Won't our grandchildren be proud.
"Why the Realestate Boom will not Bust" --
http://www.amazon.com/review/R15C461M72S3CF/ref=cm_cr_rdp_perm
This is comedy gold. If it wasn't dated I'd swear it was a satirical jab.
The real estate market still remains extremely hot in Florida and David Lereah's book is an invaluable tool for anyone yearning to become a savvy investor. His book makes perfect sense for middle America to build wealth in real estate and gives you the tools to do so. Here are some examples of proof that the market remains extremely strong: Investors in certain pre-construction single family communities have incurred substantial gains from their original deposits in October 2004 with closings scheduled for Dec. 2005--by then gains may be much more. Other investors that have recently sent in down payments for pre-construction carriage homes have also incurred very promising gains. I recently encouraged a family member to take advantage of a condo conversion and now has been her first chance to build wealth in real estate. David Lereah is 100% correct and extremely helpful. If you still don't believe how strong the real estate market is, let me fill you in....There are at least 4-5 buyers for each home that is to be released pre-construction in this area and not everyone gets lucky enough to get in on the release. Do we think this will come to a horrible crash? No. Why not? Because of many reasons, especially for Florida. Millions of current working age Americans are now investing in their future and into secondary and retirement homes. Within the next several years to come they will be purchasing and/or moving into these homes. The interest rates are also not increasing drastically and are at a historical low. Even as they increase in small increments, they remain at a historical low. If you are truly serious about learning how you can profit from real estate in a variety of logical and proven ways then David Lereah's book is a must for you!
Sincerely,
Dawn Johnson-Cox
Realtor
Naples, Florida
That bench with the 40 locks on it - where was that? Some South Beach Condo?
I vote for Suzanne and the C21 Ad.
Hhhhmmmm.....
1) Roland Arnall, CEO and founder of Ameriquest, and his family raised a reported $12 million for President Bush's 2004 reelection. Then helped screw America! Then GWB confirmed him ambassador to Netherlands!
2) 2nd scumbucket: Mafioso Tangelo!
3) L. Yun for misusing his status to mislead the American people!
4) Oh and I can't forget the MSMs for disregarding their professional and ethical standards!
I personally like the "ticking time bomb" character.
1) The Time cover
2)david liarreah's book cover
angelo will be the ken lay
In the final days of the dot.com bust, I purchased one of the remaining sock puppets as a collector's item... still have the original box and receipt!
This one is a bit tougher...there are so many visuals that could be used. Another good one would be a half-completed condo development in FL, AZ, or Vegas with a bunch of For Sale signs outside it.
Perhaps a montage of visuals should serve as the symbol?....
The Elements of Journalism: Wiki
1) Journalism's first obligation is to the TRUTH.
2) Its first loyalty is to the CITIZENS.
3) Its essence is discipline of verification.
4) Its practitioners MUST maintain an independence from those they cover.
5) It MUST serve as an independent monitor of power.
6) It must provide a forum for public criticism and compromise.
7) It must strive to make the significant interesting, and relevant.
8) It must keep the news comprehensive and proportional.
9) Its practitioners must be allowed to exercise their personal conscience.
George W. Bush on Aircraft Carrier proclaiming "Mission Accomplished".
Too Bad we didn't know at the time he was referring to the only success of his legacy which is destorying the US economy and converting the nation from a creditor nation to one on the brink of financial collapse in 8 short years.
Heck of Job, Georgie!
The Tan Man
It's gotta be that fat bastard being skinned alive by Suzanne and that temper tantruming alpha wife of his.
Your finger puppet Keith will always remind me!!!
But as for the rest:
#1: Any photo of Bush
#2: Any photo of Dick
#3: Any photo of ANY GOP bush regime member (incl. Dems)or, any MSM network news logo from 2001 - 2008
#4: A photo of the Hindenburg crash
CondoFlip logo
What about the fat banker on the DiTech.com commercials!
"Lost another loan to Ditech!"
$40K/year to make sandwiches at Togos???
I nominate the ubiquitous dancing gifs in the internet banner ads for mortgage refi companies.
Has to be SUZANNE! Worst. Ad. Ever.
Frank@Scottsdale-Sucks.com said...
Either the H2 or the Escalade.
--------------------------
Absolutely. You are spot on with that observation.
The Hummer is the suburban self righteous image of having "made it" in America. Its a piece of sh*t crapola that gets horrible gas mileage, looks like crap, but the arrogance of the people who drive it are second to none. For everyone these last few years who raided their equity with all the cash back refi, this has been the car of choice.
On the other side, the HOOD's car of choice has got to be the ESCALADE. (especially one with spinning rims) This is the arrogant Hip Hop crap crowd's choice of wheels because it was first mentioned by that piece of sh*t singer, Jay Lo, and from there all the fu*kin racist rappers have embraced it as well.
One thing both of these cars' owners have is Arrogance and disrespect for fellow humans. The exuberance, the flash of money that was spent like there's no tomorrow, this was the hallmark of the big bad days of the Housing euphoria. And they made sure everyone knew how big and bad their vehicles were.
So yes, these two cars are the iconic symbols of the housing bubble. And I have one thing to say to anyone who owns one of these vehicles:
FU%K YOU, and FU%K your wheels, You worthless piece of SH%T!
Home remodeling has got to be the iconic symbol. Everyone and anyone who bought a home- they did remodeling. This is what fueled the market. From the bankers that financed it, to the tile flooring, to the granite counter tops, to new kitchen, the bigger living room, the roman bathroom, these represent the arrogance of the house bubble- and ultimately represent all thats happened these past few years.
Suzanne!
"We can do this." No brainer -- like the fat fuck in the ad.
Tough choices . . .
For me, it's gotta be Suzanne
That b*&^ch preyed on families and relied on gut, ignorant emotion.
Booms and busts have happened before. Suzanne added a new twist to it.
Suzanne researched it!
***Yard sale alert!***
Suzanne will be selling her plunging neckline dresses at her boutique Xmas yard sale this weekend.
1. Abandoned houses/subdivisions halfway completed.
2. Abandoned office/condo towers halfway completed.
3. One of the blogs had a map of a section of some city with green for for-sale and red for REO.
4. Run on Northern Rock.
5. Run on ___________.
I know this is off topic but way too crazy not to mention.
(Reuters)WASHINGTON (Reuters) - The United States faces a heightened threat of terrorist attack "for the foreseeable future" but any attack will likely be homegrown, Homeland Security Secretary Michael Chertoff said on Wednesday.
GOOD GOD, NOW GOOD OLD AMERICANS ARE POTENTIAL TERRORISM SUSPECTS AND, OF COURSE, ENEMY COMBATANTS WITH NO RIGHTS.
Can you say policed state?
Unbelievable. I don't think I can stand to live here anymore.
I'd say for HPer's it would either be Casey or TCDL.
But for the general public, it will be Greenspan. This bubble is his fault and he knows it. Public outrage with be directed at him before 2008 is over.
That's why, yesterday, he's all "blah, blah can't diffuse bubbles with monetary policy".
Hmmm, you can certainly create bubbles with bad monetary policy, so wouldn't the opposite be true. He must be on some good meds at his age that allow him to live in a world full of plausible deniability.
Tangelo the "man-tan" look.
Suzanne as a symbol for all men with balls in the vise.
and where is Serin these days...hopefully some place with justice being served.
It would have to be the iconic image of Casey Serin being burned at the stake with worthless dollars, towering above a pile of bodies including those of Greenspan, Mozillo, Kramer, Suzanne, Liarreah, Yun, and the people in the media who ignored the credit/housing bubble. What, that hasn't happened yet? Damn, I gotta stop eating olive pizzas before bed.
Greenspan, Greenspan and Greenspan
all those stupid shows on TLC. flip this house, flip that house...
that channel actually had educational shows on it, and now it's just dribble.
what anon 1:54 AM said. Greenspan may mark the end of the central banks. we just need a president like Andrew Jackson to get rid of ours again.
Lereah. Period. Nothing else captures this period better.
Yun, Lereah and Norman in a group hug.
I don't think there will be one for the majority of people. 95% of the population has no idea who Mozillo or Yun or Lereah are.
For HPers I'd say Mozillo.
a picture of DOPES
> and where is Serin these days...hopefully some place with justice being served.
Not yet, even if he purpotedly thinks his current steady work is like slavery. You can find updated info on Casey under
www.caseypedia.com
I look it up occasionally, to see if he is finally charged with fraud.
Personally, I feel the story behind Condoflip is an absolute classic. In an interview with CNBC earlier this year, Mark Zilbert, founder of condoflip.com, told the reporter, “Oh no, I never bought a property to flip!” Even he figured out that condo flipping was a risky venture...
"Lessons From The U.S. Housing Bust"
http://boom2bust.com/2007/10/04/lessons-from-the-us-housing-bust/
I didn't know the pet puppet until I visited your site, Keith, so I am probably not the best prognosticator for the future symbol of the housing bust, but my choice would be David Lereah's book cover. The statement on its cover is, after all, from the CHIEF ECONOMIST of the National Association of Realtors. Many economist have made infamous predictions, like Irving Fisher about the "permanent high plateau" that stock prices had reached in 1929, but to combine incompetence with spin and an unwillingness to learn afterwards (as Fisher did) is unworthy for any economist. The book didn't caused the bubble, but it is a worthy symbol, like the puppet. (The cause of the enormity of the bubble I see in Greenspan and in the ratings agencies with their legal monopoly who declared junk as AAA).
Definately the Time Magazine cover. It even uses the term "ga ga." That term is so maddeningly annoying it makes my blood boil.
That mag cover came right at the peak; it represents perfectly the ignorance of the MSM, as well as the greed, stupidity, and shallowness of those who bought in to the craze.
Some day you will see a picture of that cover in the dictionary next to "contrarian indicator."
Definitely Suzanne.
She is the dark reminder that financial doom (for a man) lies in (his woman's) nesting instincts.
Serin.
"$40K/year to make sandwiches at Togos???"
That was "stated" on their loan app.
Well it has to be spankboy greenspan.He caused the whole mess with his incompetence. I think 9/11 was an inside job designed to stimulate the economy as well as give us a reason to go after saddams oil.
Where in the hell did they find lawerence yun? He looks like he is fresh out of a burger king kitchen.David lereah dropped off the planet so he could spend all his money.
How about a typical street in Riverside County, CA with the brown lawn and "Bank Owned" on the For Sale sign.
I'd like to place another name in nomination.
Call me "old school", but when I think housing rip-off, I think Tom Vu.
You remember Tom, the guy who did his info-mercials with all of the bikini-clad babes, big boats, etc.
Like Tom says, "if you aren't rich, you a loser".
here's a link to a clip
http://www.youtube.com/watch?v=K853GykeGH0
"if things were to get bad enough globally, the whole world might wake up to the scam of fractional reserve lending"
I don't know where I heard it but, apparently, the fractional reserve system is going to be abolished and banks will be able to lend out every single penny.
that's because banks were shifting money from checking to savings (I think) and were lending out everything anyway.
I love suzzane and want to protect her, so it can't be suzzane.
So I have to go with Bush's "Mission Accomplished" or the "Ron Paul Blimp," america's attempt to look at our problems from a 10,000 foot view.
kool aid
Hey, that one from Belvedere Place in London - I use to live there. 28 Belvedere Place, SW2 5AD.
It was always full of buy/let 'investors'. I guess they all decided to get out at the same time.
Why are people who committed blatant, verifiable and illegal mortgage fraud being labeled as 'victims'?
=================================
Because they're rich.
What will be the lasting image when the whole system collapses? Because that's what is really happening. The housing bubble was just the latest scam used to defer the crash of the system just a little longer. Of course they made the inevitable collapse that much bigger by their actions.
"***Yard sale alert!***
Suzanne will be selling her plunging neckline dresses at her boutique Xmas yard sale this weekend."
I get dibs on her panties!
Yes anon 1:54 AM!
It will be Greenscam because this will eventually be seen as much more then a housing crash.
Also its a powerful image, looking at it makes me puke.
"Suzanne" is actually Dawn Johnson-Cox!
He said "Johnson-Cox." Uh, huuhuhuh...
"all those stupid shows on TLC. flip this house, flip that house..."
A lot of those shows aren't making new episodes, and any episodes made in 2007 are mostly failed flips. They're all going to make transition to failed flip/underwater homeowner shows. I can't wait.
In my book, the Suzanne ad with the nagging wife, weak slob of a husband, and the realtor doing "Cousteau - like research" is pretty tough to beat.
Smug Bastard
I wonder when they'll start crushing all the massive unsold used 12-MPG SUV's that dominate all the used car lots in Michigan?
I think only people with certified dirt and/or two-track residential driveways should be authorized to own an SUV or over-sized 4-wheel drive truck.
PANIC IN DETROIT!
Here's my choice:
http://www.shirtsnob.com/archives/002634.php
Mr. Housing Bubble Tee!
"I nominate the ubiquitous dancing gifs in the internet banner ads for mortgage refi companies."
Those rock. I'll miss those - too bad they didn't do naked ones.
Another vote for the "Flip That House" logo.
BTW, seen any new episodes lately? The last five minutes now usually show the flippers stuck with the houses, or having to rent them instead.
Time cover and the tan man just because they're both so damn gaudy they stand out.
You missed one: The Home Depot logo -- the perfect metaphor for what's gone sour: Folks using their home as a "home depot" ATM; wishfully thinking their "home depot" would finance their retirement; suckered into home-depot for tasteless, unnecessary (and Chinese-made) upgrades; and -- most especially, going deep deep deep home-deepo-in-debt!
The Suzanne C21 ad, my testes instinctively retracted for a week upon first viewing.
1) Suzanne's victim couple
The ugly, bullying tone of that spot brought me up short from the first time I saw it.
They wouldn't dare try that now.
I know no one will believe me but I suspect that Angelo Mozilo will get away scot free. He's pretty much been building a PR case for a liquidity crisis, having side swiped his industry, whereas other people have been vacillating their stories on and off. Realize, this man's a con artist at heart and knows how to work the system. The others, in contrast, are amateurs.
SUZZANNE
My vote is the Mr Bubble.
Keith, do a poll.
Yuk, Angelo has gone from orange man to prune man.
I nominate "Sub Zero" appliances. Spending twice as much as you need to for a car is one thing but spending five times as much for an appliance because all the fakers and wannabees have them is beyond stupid. Marble countertops are not far behind.
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