Also big news in the world of the Chicago Bears. Benson was charged with his second DUI and the Bears decided to release him, confirming my belief that he'd never carry the ball for the Bears again. Well, at least he SHOULDN'T have ever carried the ball for the Bears again. What a waste.
This was his mug shot from the boating incident...post pepper spray in the eyes.
AAA stated that the national average for a gallon of gas hit $4. Guess who called it? Yep, me. More benefit of reading my blog!!
You really need to click on this comic strip before reading on.
Most pundits would have you believe that the housing and mortgage crisis' are over. But at the annual meeting of my hedge fund on Saturday morning, I heard and saw an incredibly detailed analysis of the reserves taken thus far by banks and the extent of the loans they have involving exotic mortgages to the non-subprime market. In fact, these are loans made to people with HIGH FICO scores. I'll spare you the gory details and just provide the link to where you can find out more (click on the T2 Partners presentation link). Suffice it to say, a huge chunk of these mortgages are going to default and it's going to be a mess. Whitney Tilson is a very compelling speaker by the way.
4 comments:
Hup Holland Hup!!
greeeeeat. so when should i refi? (5 year arm up in early 2010)
Stef, just figure out what your adjust mortgage payment will be after it readjusts in 2010. The defaults are going to hurt the banks, not other mortgage holders, so you shouldn't be impacted.
Mortgage rates really haven't dropped like they should have given our interest rate environment, so I wouldn't rush to refi.
I think the proper spelling for the Dutch team should be Oranje. I love you for including soccer in the sports news mix - but disappointed that you didn't mention my beloved DC United's pulling out of a 2-1 win over the Chicago Fire in Chicago being a man down with a goal in the 2nd minute of stoppage time.
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