Nelson Mandela. Gerry Conlon. Rubin “Hurricane” Carter. Spiritual Leaders, Freedom Fighters and Saints Among Men – all falsely accused, wrongfully imprisoned and later exonerated as justice eventually prevailed. Today you can add Bear Stearns hedge fund managers Ralph Cioffi and Matthew Tannin to that list, as the world collectively breathes a sigh of relief. Detaining…
Mortgages
Dear Deadbeat States, Please Pay Your Mortgages
I don’t like to point fingers or anything, but it seems that in July 2009, only 7 of our 50 states were responsible for 67% of the nation’s property foreclosure filings. That’s right, two thirds of the foreclosures are in…well, I’ll let you name the states. That’s right. California, Florida, Texas, Arizona, Nevada, Georgia and…
Jamie Dimon For President
Jamie Dimon doesn’t just Beat the Street, he Owns the Street. I read somewhere that 20% of the world’s money market funds were currently with JPMorgan Chase. I can’t remember where I heard it, but if that’s even close to accurate, that’s a remarkable statistic and it shows you who’s going to be the big…
Mortgage Rates Gettin' Low, Low, Low…
The Notorious B.I.G. picked up this stat from last Friday: The national average for a 30-Year Fixed Mortgage is now below 5% for the first time since the summer of 2003. And your elected/ appointed officials down in D.C. want it even lower. My take is that they’ll succeed. Meanwhile, if no one has a…
A Foreclosure Play in the Stock Market (LPS)
The following is not research or a stock recommendation and should be used for strictly informational purposes. The opinions contained herein are the author’s only and should not be construed as an official recommendation from any party. Here’s an interesting story…so this company Lender Processing Services (LPS) probably could’ve been considered one of the most…
Johnny Upside: "I'm All About Distressed Assets, Yo!"
Today we bring you another interview with Johnny Upside (read the first one here). Johnny’s a Wall Street hotshot armed with an MBA, very little brain power and a limitless ego. Today, Johnny discusses his new venture, Distressed Asset Investing. The Reformed Broker: Hey Johnny, what’s happening? Johnny Upside: Happening? IT’S ALL HAPPENING, BABY! TRB:…
