This was the perfect storm. Clinton, encourages riskier mortgages, there’s an understanding there’s no risk associated with dodgy loans the banks are forced into from a CRA perspective because Fannie/Freddie and the secondary market will take the bad loans, the Fed kept rates too low for too long leaving an abundance of cheap money to lend in the markets, Fannie/Freddie expand their portfolios and load up on crap, the Democats stiff arm reform because Fannie/Freddie are lining their pockets (and the Republicans didn’t push hard or vocally enough), the insurers avoided oversight by not technically insuring the commercial banks default risk on these mortgages (60 Minutes had a piece on this aspect last week, “credit default swaps”) but selling these products without the proper reserve required when the banks came calling, people stopped paying mortgages they couldn’t afford, and then the dominoes fell.
Banks have assets on their books that they are unsure of (either individual loans or securitized packages of loans), so they’re holding onto their cash in the event the marking to market (thanks FASB) hits their portfolios hard, they’re not lending to the general public, nor each other, and now the market is illiquid until the clowns in Washington figure out what to do (after they’re done pointing fingers). In the interim, “Joe Six-pack” is tired of watching his 401 go down the toilet and moving funds into safer investments that don’t hold stocks which is causing the market to continue to search for a bottom.
As far as my Clinton comment, this isn't the rant of a right wing nutjob, hit the NY Times here: http://query.nytimes.com/gst/fullpage.html?res=9c0de7db153ef933a0575ac0a96f958260&sec=&spon=&&scp=1&sq=Fannie%20Mae%20Eases%20Credit%20To%20Aid%20Mortgage%20Lending%20&st=cse
Thursday, October 9, 2008
Tuesday, October 7, 2008
Blow It All Up
I'm talking Cubs of course. Baseball Today is talking about a rumor involving Cub pitching going to the Mets (hopefully along with a huge contract) for Beltran.
We need a lefty run producer because Fukudome hasn't worked out.
I still haven't decided if I'm boxing up my Cub gear until they win a post season series, and I'll save my friend Craig the trouble, yes, I know I may never need it again so long as I live.
We need a lefty run producer because Fukudome hasn't worked out.
I still haven't decided if I'm boxing up my Cub gear until they win a post season series, and I'll save my friend Craig the trouble, yes, I know I may never need it again so long as I live.
401K
So, I checked and my 401K today roughly equals my 401K on 5/14/07. That includes ALL the contributions I've made to it since then, as well as rolling into it a small IRA I had from my time served at CoVest Banc.
Nice!
Nice!
Sunday, October 5, 2008
Happy Place
Things I love:
My wife: She's the best. We're on the same wavelength with so much of our lives. Jobs. Kids. Parenting. Roles around the house. She's amazing and been really patient with my challenges at work right now.
My kids: There are times I see probably more of me in them and their actions than I would like. My heart broke a little when Ethan was in goal yesterday and didn't know much about how to play the position (other than he wouldn't be running much). Our coaching staff forgot to put a goalie coach back by him, until about 6 of his teammates on the field were yelling at him on where he should be playing. I told him after the game I was proud he tried something new and we'd work on it this weekend.
Fall: Pumpkin is my favorite flavor. I like the weather changing. I'm tired of mowing the grass and I'm not ready to shovel snow yet, fall gives me a break (oh, I forgot about raking leaves). I love pro football (but Tom Brady has killed my Fantasy team), and back in the day I LOVED FSU football. I left them behind when I had kids, but I really enjoyed watching yesterday (for the first time in like six years) when they went up and down the field against a pathetic Hurricane Defense and beat the U. The game wasn't as close as the score indicated.
Frightfest at Six Flags: Techinically it could be considered part of the point above, but I love how they really go all out to remake the park for one month out of the year. We have passes, so it doesn't cost any extra and we're going later today.
Hockey: The Blackhawks should be better this year.
Old Friends: I spent forty five minutes this last week catching up with one of my childhood friends that I hadn't talked with in years. I ran into his bride at the grocery store and got his number again from her. This past week I ran into one of my old banking buddies and I think we'll meet for drinks and catch up on Friday. I do believe God was at work in re-opening these lines of communication. It's something I've needed desperately lately with my frustration at work and my rant in my last post. There are still others I don't quite make time for (and they're pretty busy too) that I'd like to see again before the snow falls. But I'll work on them too.
Marquette Basketball: We'll see if Buzz can coach as well as he recruits.
Bike rides: I've got Ethan on two wheels and there's a fantastic path that's part of the park district near our house. Ethan can't quite go as long and hard and fast as I'd like, but we can go together and maybe next year he will. It's great exercise and I'm finally riding my bike more. My friend Jason encouraged me a year or so ago when I went out to visit him. He was right.
Monster Cereals: Frankenberry, Boo-Berry, & Count Chocula should be coming to Target again soon. These sugary sweets my parents denied me as child I've embraced as an adult for the last few years. I love them (and I agree with Walt and Barb in saying it's too much sugar for a kid, especially since I'll only let Ethan and Cam have it on the weekends).
My sisters: I have great siblings. My oldest is so caring, thoughtful and sensitive. I hope she's able to find something in the job market that is fulfilling for her. She's got a great guy in her life and I think they're great together. My second oldest is a professional and she hosted a really nice party last weekend that I enjoyed immensely. I don't talk to her nearly enough. My youngest older sister. She's been in a similiar crossroads career-wise as I have been (amazing since we both work for the "Big H"). Her husband is a neat guy I enjoy talking to, and we should get together more frequently just to watch a game or shoot the bull.
Push ups: I had been doing them religiously the last few years, but the crap that's been going on at work lately, I've been sluffing off on them. I'll get back on that this week and continue again.
I have a great life and need to focus on the things and people in this post, less so on the bullshit in the last one.
I feel better and I'm going to get cleaned up and head to fright fest with my bride and my boys.
My wife: She's the best. We're on the same wavelength with so much of our lives. Jobs. Kids. Parenting. Roles around the house. She's amazing and been really patient with my challenges at work right now.
My kids: There are times I see probably more of me in them and their actions than I would like. My heart broke a little when Ethan was in goal yesterday and didn't know much about how to play the position (other than he wouldn't be running much). Our coaching staff forgot to put a goalie coach back by him, until about 6 of his teammates on the field were yelling at him on where he should be playing. I told him after the game I was proud he tried something new and we'd work on it this weekend.
Fall: Pumpkin is my favorite flavor. I like the weather changing. I'm tired of mowing the grass and I'm not ready to shovel snow yet, fall gives me a break (oh, I forgot about raking leaves). I love pro football (but Tom Brady has killed my Fantasy team), and back in the day I LOVED FSU football. I left them behind when I had kids, but I really enjoyed watching yesterday (for the first time in like six years) when they went up and down the field against a pathetic Hurricane Defense and beat the U. The game wasn't as close as the score indicated.
Frightfest at Six Flags: Techinically it could be considered part of the point above, but I love how they really go all out to remake the park for one month out of the year. We have passes, so it doesn't cost any extra and we're going later today.
Hockey: The Blackhawks should be better this year.
Old Friends: I spent forty five minutes this last week catching up with one of my childhood friends that I hadn't talked with in years. I ran into his bride at the grocery store and got his number again from her. This past week I ran into one of my old banking buddies and I think we'll meet for drinks and catch up on Friday. I do believe God was at work in re-opening these lines of communication. It's something I've needed desperately lately with my frustration at work and my rant in my last post. There are still others I don't quite make time for (and they're pretty busy too) that I'd like to see again before the snow falls. But I'll work on them too.
Marquette Basketball: We'll see if Buzz can coach as well as he recruits.
Bike rides: I've got Ethan on two wheels and there's a fantastic path that's part of the park district near our house. Ethan can't quite go as long and hard and fast as I'd like, but we can go together and maybe next year he will. It's great exercise and I'm finally riding my bike more. My friend Jason encouraged me a year or so ago when I went out to visit him. He was right.
Monster Cereals: Frankenberry, Boo-Berry, & Count Chocula should be coming to Target again soon. These sugary sweets my parents denied me as child I've embraced as an adult for the last few years. I love them (and I agree with Walt and Barb in saying it's too much sugar for a kid, especially since I'll only let Ethan and Cam have it on the weekends).
My sisters: I have great siblings. My oldest is so caring, thoughtful and sensitive. I hope she's able to find something in the job market that is fulfilling for her. She's got a great guy in her life and I think they're great together. My second oldest is a professional and she hosted a really nice party last weekend that I enjoyed immensely. I don't talk to her nearly enough. My youngest older sister. She's been in a similiar crossroads career-wise as I have been (amazing since we both work for the "Big H"). Her husband is a neat guy I enjoy talking to, and we should get together more frequently just to watch a game or shoot the bull.
Push ups: I had been doing them religiously the last few years, but the crap that's been going on at work lately, I've been sluffing off on them. I'll get back on that this week and continue again.
I have a great life and need to focus on the things and people in this post, less so on the bullshit in the last one.
I feel better and I'm going to get cleaned up and head to fright fest with my bride and my boys.
Dark Place
I don't know how much more of this nonsense I can stand.
Cubs: They've failed again. Why did they waste all that jet fuel to get to LA, when a postage stamp would do? They completely mailed it in. No passion. No desire. You could see it at the end with the players on the bench from the seventh inning on. Why weren't they on the front step, encouraging each other?
Do I box all my Cubs stuff up and put it away in my basement? I haven't decided yet because I don't think it's wise to make these sorts of decisions in haste. I don't want to be frustrated any more by them. Do I no longer throw myself in after them? Do I pass on Spring Training? Do I no longer attend games? Do I hang up the royal blue pinstrips forever? Do I discourage the boys from loving the Cub? Fortunately (or unfortanately) neither Ethan nor Cameron have the patience or attention span yet to sit through a game either on the couch or at the park).
Politics: I'm tired of the Republicans being painted as stupid/corrupt/bumbling/evil/incompetent by the Mainstream Media. I'm tired of watching the Democrats get a pass for all their indiscretions and failures. How can Barney Frank still have a job after the Fannie/Freddie debacle THAT HAPPENED ON HIS WATCH? How dare he and his party lay the blame for this solely at the feet of everyone on the other side of the aisle? They're ALL PIGS, they've ALL FAILED their electorate. This "bailout" package is a sham and never should have been passed. I'm tired of being forced to pony up and pay for everyone else's mistakes. I'm tired of watching politicians and their friends get theirs by working the system. WHERE'S MINE????!?!?!?!
What do you when enough is enough and you've had enough?
Cubs: They've failed again. Why did they waste all that jet fuel to get to LA, when a postage stamp would do? They completely mailed it in. No passion. No desire. You could see it at the end with the players on the bench from the seventh inning on. Why weren't they on the front step, encouraging each other?
Do I box all my Cubs stuff up and put it away in my basement? I haven't decided yet because I don't think it's wise to make these sorts of decisions in haste. I don't want to be frustrated any more by them. Do I no longer throw myself in after them? Do I pass on Spring Training? Do I no longer attend games? Do I hang up the royal blue pinstrips forever? Do I discourage the boys from loving the Cub? Fortunately (or unfortanately) neither Ethan nor Cameron have the patience or attention span yet to sit through a game either on the couch or at the park).
Politics: I'm tired of the Republicans being painted as stupid/corrupt/bumbling/evil/incompetent by the Mainstream Media. I'm tired of watching the Democrats get a pass for all their indiscretions and failures. How can Barney Frank still have a job after the Fannie/Freddie debacle THAT HAPPENED ON HIS WATCH? How dare he and his party lay the blame for this solely at the feet of everyone on the other side of the aisle? They're ALL PIGS, they've ALL FAILED their electorate. This "bailout" package is a sham and never should have been passed. I'm tired of being forced to pony up and pay for everyone else's mistakes. I'm tired of watching politicians and their friends get theirs by working the system. WHERE'S MINE????!?!?!?!
What do you when enough is enough and you've had enough?
Saturday, October 4, 2008
Kosuke Should NOT Be Benched
I can't believe I wrote that, but I did and here's why.
1. Chavez Ravine has a HUGE outfield, and Fukudome's strength is his defense. You need a guy who can run patrolling right.
2. DeRosa has a gimpy leg right now. The guy is dinged up right now and running down fly balls or gappers probably isn't going help his leg. Despite his error on Thursday, his bat needs to be in the line up.
3. Redemption. You need to stick DeRo back at second so he can make up for his error in the field (he certainly did his job at the plate).
4. Kuroda. The Cubs haven't been able to figure him out yet in their prior two starts against him, but Fukudome has the most experience against him. Tap into his knowledge and share it with his teammates.
5. 38 Million Dollars. I believe that is what's left on Kosuke's contract. He hasn't put in the time in the cage like he should (Man Ram is constantly hitting and he's got a bigger contract and bigger talent than anyone on the Cubs right now). You stick him in the doghouse now, you risk losing him for the next three years.
I can't believe I'm sticking up for Fukudome, but I am. Start him Lou.
1. Chavez Ravine has a HUGE outfield, and Fukudome's strength is his defense. You need a guy who can run patrolling right.
2. DeRosa has a gimpy leg right now. The guy is dinged up right now and running down fly balls or gappers probably isn't going help his leg. Despite his error on Thursday, his bat needs to be in the line up.
3. Redemption. You need to stick DeRo back at second so he can make up for his error in the field (he certainly did his job at the plate).
4. Kuroda. The Cubs haven't been able to figure him out yet in their prior two starts against him, but Fukudome has the most experience against him. Tap into his knowledge and share it with his teammates.
5. 38 Million Dollars. I believe that is what's left on Kosuke's contract. He hasn't put in the time in the cage like he should (Man Ram is constantly hitting and he's got a bigger contract and bigger talent than anyone on the Cubs right now). You stick him in the doghouse now, you risk losing him for the next three years.
I can't believe I'm sticking up for Fukudome, but I am. Start him Lou.
Let's Get One Win in LA....
if they start thinking about winning three straight, or the crushing history of a 100 years of failure, it'll never happen.
Edwardo Perez (I know, WHO???) on ESPN was laughing at the idea of the Cubs winning tonight. Kuroda has been a mystery to them so far this year and Harden's velocity has been down since receiving a cortisone shot, but come on, LAUGH AT THEM on ESPN??? Who the hell is this clown and what gives him the right?
I liked Bill Murray's approach better. He feels sorry for the Dodgers because now that they're the home team, all the pressure will be on them, and let's see how THEY deal with it. I don't know that I feel sorry for them, but he is right.
So, let's get one f'ing win in LA tonight and worry about tomorrow then.
Edwardo Perez (I know, WHO???) on ESPN was laughing at the idea of the Cubs winning tonight. Kuroda has been a mystery to them so far this year and Harden's velocity has been down since receiving a cortisone shot, but come on, LAUGH AT THEM on ESPN??? Who the hell is this clown and what gives him the right?
I liked Bill Murray's approach better. He feels sorry for the Dodgers because now that they're the home team, all the pressure will be on them, and let's see how THEY deal with it. I don't know that I feel sorry for them, but he is right.
So, let's get one f'ing win in LA tonight and worry about tomorrow then.
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