Bear Stearns, they had you, you never had them

Bear Stearns, they had you;
You never had them;
They ripped you off,
Now you bailed them out;
So Bear now that you, have been eaten by Chase;
Goodbye, goodbye.

(spoof of John Lennon's Mother You had Me, I never had You.)

Bear Stearns has disappeared, but the problems that is caused live on. There is a tremendous amount of paper out there that was originated by Bear Stearns, not only sub-prime mortgages, but CDOs, CLOs and the whole alphabet soup. Now it is time to put the paper itself into a bankruptcy reorganization. The more we try to subsidize these deals and sell off the worthless paper, the worse for the real economy. If this doesn't stop, this could be a new dark age.

Want Some San Diego Cal. Real Estate?

San Diego California is a large US City not far from the Mexican border. Some people, for various reasons may even want to live there. If you want some downtown san diego real estate to play with, they got it if you want it. San Diego, Cal. is a city of over 1.2 million people, in a metropolitan area of 2.9 million. It is known for its 16 navy and other military facilities, its miles of beaches, and its border with the wild and woolly city of Tijuana, Mexico.

La Jolla foreclosures to invest in may be your cup of tea. Central San Diego coastal real estate includes the neighborhoods of La Jolla, Point Loma, and Pacific Beach. People who are facing foreclosure are advised by my friends to look at the website profundrealestate.com . Looking can't hurt, and a short sale is better than no sale at all and a seizure of your property by the feds.

Or perhaps you want pacific beach real estate to get a suntan. Who knows, there is little rhyme or reason in the real estate business today. Things go up, things go down, and it may still come around, who knows?

A Witches Brew of Scandal- and Hillary Clinton

The instant sex scandal against now ex- Governor Spitzer of New York may have one big objective- a hit on Hillary Clinton. This could have been the plan, one never knows. This is the big drawback of this whole FBI Homeland Security operation. There are huge files on politicians. Who gets to decide who to hit?

The Boston Globe found that there was a shift to "stand pat until the primaries are over," i.e. that the superdelegates were resisting the pressure to shift from Clinton to Barack Obama. New York Governor Eliot Spitzer, who endorsed Hillary Clinton in May 2007, was one of the superdelegates the Globe reported canvassing, and he said he was holding firm for Hillary Clinton. Spitzer was the state's leader among superdelegates, 42 of whom were for Clinton and only one for Obama.



The following day, March 7, Spitzer was notified by the FBI that he was to be brought down, and on March 8 the New York Times was given details to go with. The Times came out with the scandal on March 10, citing a Federal administration official "with knowledge of the governor's role" in a Federal investigation. The Times demanded Spitzer's resignation in editorials March 11 and March 12.



The Washington Post, controlled by Rohatyn-Lazard, "signalled" in a piece this morning that Senator Clinton and former President Bill Clinton should be asked repeatedly, while campaigning, about the Spitzer case. The Post spewed its venom on Clinton by presenting the Spitzer as a "bad-luck charm" for her.


The resignation of Admiral Fallon, a critique of Dick Cheney's Iran war strategy is another reminder of "other ways" of doing politics.

Good Credit Gone Bad

What happens when your good credit goes bad? You better get a bad credit card. That's right there are offers for credit cards for people with bad credit. What is that? Yes there are fees on these credit cards, but the APR on purchases can be as low as 9.9-percent. What is more, by having and using these credit cards you can reestablish your credit as a consumer and someone who pays their payments on a monthly basis. And that is how you can save you and your family from ongoing difficulties with credit.

The Physical Economy and the Green Machine

And if you put a solar mirror;
On your roof, will anybody care;
And you've just shoved into something creamy;
And your brain is beginning to tear;

Call Greenie, and the Global Warming...

(spoof: Jefferson Airplane, Gracie Slick singing, Feed your Head)

There is nearly a third more ice in Antarctica than usual. The Daily Express recalls the photograph of polar bears clinging on to a melting iceberg, which has been widely hailed as proof of the need to fight climate change and has been used by former VP Al Gore during his "Inconvenient Truth" lectures about mankind's alleged impact on the global climate, and points out that Gore fails to mention that the photograph was taken in the month of August when melting is normal. Or, that the polar bear population has soared in recent years.


It is nice to think what businesses there are in the global warming trades. You could start a business installing solar panels, and also be promoting solar energy. You could help householders put up windmills, or as they say these days, wind turbines. That would promote carbon free energy. Of course, the whole thing may totally be an exercise in futility. One of the best way for governments to encourage entrepreneurs to start green or any business is for the government to sponsor infrastructure projects as for an example, to build maglev trains.

More on Mortgages in the UK

If you think that interest rates will continue to go down, at least in the UK, you may be interested in a tracker mortgage. Of course, for the time being, the Bank of England has frozen the level of interest rates, but that could change soon. Due to the credit crunch, there is strong pressure to lower interest rates and to inflate the money supply, in order to get the real estate and mortgage markets somewhat liquid. Whether this classic textbook move will work is another question.

In the United States, a tracker mortgage, I guess, would be the same thing or similar to an ARM, an Adjustable Rate Mortgage. In any event, it is very interesting that these mortgages come in for as low as a 2-year time span. I guess that after the two-years, you have to get another mortgage. How does one decide whether to get a fixed-rate mortgage or a tracker? The bankers say it depends on what your atitude to risk is. Personally, I think it is a lot safer to get a 30-year fixed rate mortgage for the home that you purchase.

After all, you do need to be able to make a long-term household budget. You can not plan your expenses on the necessity for striking it rich or winning the lottery. And another factor is that even if interest rates go down now, who is to say what they will do in the future. That, probably is the reason that some people are attracted to a mortgage that also has a 2-year term. They feel that if interest rates start to go up again, they can readjust their new mortgage accordingly. However, this leaves out one very important risk factor. When money becomes tight, or even tighter than it is now, then it can become virtually impossible, say two years in the future to get a loan at all. That is why I favor the fixed long-term mortgage. Get a Free Mortgages Quote and find out what's right for you.

Spanish Banks and Real Estate Games

The Spanish banks are in a lot of trouble, with real estate, like banks all over Europe and the United States. They are papering over their books by creating new SIVs and then using them as collateral for new loans from the European Central Bank. What is in the SIVs? Who knows? This stinks of an Enron-type of game. Real estate loans that are of questionable value are sold to a wholly owned subsidiary, which puts them in an offshore SIV. When it collapses the ECB is holding the bag.

Spanish banker are thought to have been creating securities and SIVs solely for the purpose of obtaining cash from the European Central Bank (ECB), the Frankfurt correspondent of the French daily Les Echoes reported. The paper quotes Adam Slater, of Oxford Economics, as saying "The worries are on the fact that, in certain countries, banks are creating SIVs whose only purpose is their use as collateral at the special discount window of the ECB and to use these loans to prop up their financial deficits." And you thought Enron was over?

The volume of asset-backed securities (ABS) being used as collateral for loans from the ECB has been climbing, with ABS rising since September to 215 billion euros, or 17% of the collateral provided by borrowers to the ECB, up from 12% in 2006. Spain is also the location of a massive real estate bubble. Since last September, the Spanish banks alone represent 9% of the volume of refinancing conducted by the ECB, whereas they comprised only 4-5% before then, not a very healthy trend at all. Mr. Slater comments that when the real estate bubble pops, the collateral will go bad, if it hasn't already. Then the banks will need more and more collateral.

Instead of Getting Depressed about Real estate, try Plastic Surgery

The American singer Kelly Rowland has confessed that she had a "boob job" to make her breasts larger. I don't know why this is really necessary. Don't all the models want to be flat as a board? There is really so much fantasy going on in our society all the time. With the economy flat and ready to crash, a lot of people are turning their fantasies inward, from that great real estate deal to their body.

After all, if you are not going to become the great real estate wheeler dealer, why not look pretty? Get a Nose Job, Liposuction, Breast Enlargement (hopefully women only), anything as part of the game. With Kelly Rowland being a former member of Destiny's Child, wouldn't she want to be flat on her chest, to look more childlike? I guess when she left Destiny's Child, she stopped wanted to look lik a child, at least in that area.

The Obama Trial, More than a Real Estate Deal

The Obama trial is, sweeter than honey,
About that big house he has, who paid the money,
Before he starts on his change change rap;
How about a little respect?
(Yes, baby)

(spoof "Respect" by Aretha Franklin)



The Economist describes Tony Rezko, as ``one of Chicago's slimiest characters,'' in a city where ``corruption rivals deep-dish pizza as the local specialty.'' The trial of Rezko for attempted extortion, money laundering, fraud, and aiding and abetting bribery, is increasing the pressure on Barak Obama to have to answer questions he has so far avoided, says Economist, reviewing the Obama connections which have been trumpeted in the British press. While Obama has characterized this as a ``lack of judgment,'' the Economist says that ``even a hint of scandal can prove to be almost as harmful as the real thing.''

On the first day of the trial, one revelation of note, from FBI Special Agent Charles Willenborg, was that although in a 2005 interview, Rezko said he had contributed $500,000 to Illinois Governor Rod Blagojevich, internal documents credited Rezko with raising more than $1.4 million for the Governor. No indication yet of who got the unaccounted for two-thirds of the money. Did the Obama-tons get it?

And Obama, what about how Rezko helped you buy your big house?

A Look at Commercial Mortgages

The commercial mortgage markets are doing better than home mortgages in many cases. Especially, in the big cities like London and New York this is true. Money will still tend to be tight, with the fall of Northern Rock. Northern Rock's mortgages will still be circulated, but now they have in effect been nationalized by the British Government.

If you are in the market for a Commercial Mortgage , it is a good idea to get all the information you can to find out how to get the best mortgage as possible. Commercial mortgages span a large market from small little stores and pubs to renting and owning shopping centers and mega-stores. Likewise, there can be unexpected dangers. Even in a place like New York, NY, USA or London UK, it is possible to reach a point where there is overbuilding of office space. Seven of the eight big financial firms in New York City have taken big losses, and if they lay off employers they are going to tend to rent less office space where this is possible. Likewise, Mom and Pop stores are all very fine, but if the huge Target or Wal-mart is built in the neighborhood, that can ruin sales, and ruin the desire for people to rent stores in the area.

There are still plenty of people in small business or who would like to be in small business. These are the people who are interested in renting bed and breakfasts or stores, or if possible getting a mortgage on them

New York State Assembly Not Happy with Bloomberg

NY State Democrats have not been happy with mayor Bloomberg. Mayor Bloomberg, the want to be President or Vice-President of the United States, has been pushing his congestion pricing plan. This would charge anyone wanting to drive into Manhattan below 60th St or so, to be charged $8, and that is just to start. Looking at London, UK, these fees could rise rapidly once they are put in place.

There is legislation increase the tax on hedge fund managers and others who earn $1 million per year, from the current 6.85 percent to 7.7 percent, the New York Times reports. The legislation would produce $1.5 billion in its first year, from 26,000 New York State residents, for the State's General Fund, and, but its second year, the proceeds would be split between the General Fund and transportation infrastructure improvements--roads, bridges, and the New York City subway system (MTA). The Senate Republicans, whom Bloomberg has supported handsomely with donations over the past year, adamantly oppose the tax, as does Democratic Governor Elliot Spitzer, a member of Bloomberg's Rebuilding America's Future Coalition. Said Spitzer: "That [raising taxes on those who make $1 million/year] is not something we can afford to do now."

At the same time, the New York Times reported that it is none other than Mayor Bloomberg himself who is responsible for much of New York City's auto congestion. The Mayor's office has given out 142,000 (counting continues) parking permits allowing city employees to drive to work and park near their police stations, schools, etc. Bloomberg, who had promised to cut these free parking permits when he took office in 2002, instead failed to even take an inventory. Opposition is spreading to Bloomberg's new "Greenie tax." That's what you get when you believe in fantasies like Global Warming.

Telemarketing in the UK

Telemarketing is a way to get more leads for your business. Blueberry Marketing Solutions have defined their company as a "lead generator" specialist. They do the telemarketing work, so that your sales force can have the necessary appointment for your company to get real orders. With more orders you can get more revenue.

Let's face it, with the puncture of the real estate, being in business is getting more difficult than it used to be. Your company has to do a lot of work to get ahead. By having a Telemarketing service to generate lead, your more qualified sales people have time for face-to-face appointments. Your staff is kept pretty business delivering the products and services that your company offers anyway.

Telemarketing can also provide your company with appointment making, database cleaning, sales training and marketing research. So say if the Telemarketers are providing you with leads, that can be a tremendous service. Cold-calling is difficult and extremely time consuming. You can be the most trained person in the world and still get a small amount of results per day. If your company is somewhat known, if you participate in trade shows and the like, then these calls don't have to be in fact totally cold. If the initial contact is made by Telemarketing personnel who know how to generally talk to people, then recontacting the people who respond is a much simpler task.

Obama and Good Real Estate Gone Bad

What makes Obama do what he did;;
Getting favors from a con man;
Rezko and Auchi, the story will out;
Ruining Obama's campaign for Prez;

OK, let's hear it baby---

He's a man, he needs some stuff;
Will this scandal still be enough;
A real estate deal, just like any other;
But will this kill the campaign of the Brother?

-Good Real estate gone bad

(Spoof song- Good Lovin' Gone Bad- Bad Company)
Rezko helped Obama buy a big faux Georgian mansion in Chicago. Rezko in turn got his cash from the mysterious Iraqi-British Billionaire, Mr. N. Auchi. Mr. Rezko, going down in Chicago, got a break with a $3.5 million loan or grant from Mr. N. Auchi, an Iraqi billionaire living in the UK. Now it seems that the US press is beginning to dig up some dirt. This latest in from the Washington Times' Bill Gertz:

Gertz cited a 2004 Pentagon report, which described Nadhmi Auchi--the obscure financial angel for Rezko's deals--as a billionaire, "who, behind the facade of legitimate business, served as Saddam Hussein's principal international financial manipulator and bag man.'' Auchi has denied the Saddam ties, and says that his brother was executed by Saddam.

As quoted by Gertz, Auchi was accused in the report of "unlawful activities working closely with Iraqi intelligence operatives to ... arrange for significant theft from the U.N. Oil-for-Food Program to smuggle weapons and dual-use technology into Iraq,'' and to "organize an elaborate scheme to take over and control the post-war cellular phone system in Iraq.''

Furthermore, according to the Gertz account, Auchi was linked in the Pentagon document to British intelligence. Auchi has denied all the allegations in the Defense Department probe, although his links to "former'' top MI6 officials are confirmed by a search of public records of his companies and the Anglo-Arab Organization he founded. So, Obama could be out soon. The only question is will he succeed in his assigned mission to knock out Hillary Clinton first, and make a path for Mussolini Mouse-a-lini Mike Bloomberg?

A Look at Casino Reviews

As the economic system looks more and more like a Casino out of control, let's look at the real thing. In this case, that's online Casinos. Check out these online casino reviews to find out where to go to try your Lady Luck. You are going to win or lose a lot faster than if you invest in the stock market, but the principle of betting in the same in online casinos, and in the casino of the world financial system.

The biggest surprise is that somehow, some of these casinos are open to United States bettors, or so the reviews claim. This is strange, since the big news story of a while ago is that credit cards companies in the USA were being prohibited to send money to online casinos. According to the review, the Rushmore Casino is open to US bettors, see www.rushmorecasino.com . You can only collect up to $2,000 a week in winnings, and make deposits in your account of $500. They use realtime Gaming software, though they have had to improve their ethics, it seems.

Another casino to take a look at is slotsplus.com aka Slots Plus. They received rave reviews and also offer a $500 welcome bonus, presumably only for playing their slot machines. They also received high marks for security and fair play.

Finally, there is vegascasinoonline.com Vegas Casino Online, with a lot of flashy lights. They have 90 online games, a rating of 90 out of 100 for fairness, and up to a $500 bonus for betting.

In all it is amazing that there is so much gambling online that Americans can go to. See the casino reviews at www.pro360.com and please go ahead and try your luck is you dare.