Quotes of the day...

[earthbm_IHB]

"Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves . . . I intend to rout you out, and by the Eternal God I will rout you out!"

President Andrew Jackson (the guy on $20 bill)

 

[no_vaseline_IHB]

“The rocket has run out of fuel, and now it’s plunged back down to earth”

- Jack McCabe, Florida Realtor

http://www.nytimes.com/2008/10/16/business/economy/16housing.html?partner=permalink&exprod=permalink

 

[Anonymous_IHB]

Ok, that one scares me. Makes you wonder who said it...

http://www.washingtonpost.com/wp-dyn/content/article/2009/01/12/AR2009011200617.html?hpid=topnews

In response, Bush said, he told them: "If you were sitting there and heard that the depression could be greater than the Great Depression, I hope you would act too."

 

[Anonymous_IHB]

“Who would have thought a tangible asset would fall 45% in one year?"

-National Association of Realtors’ chief economist Lawrence Yun

http://mortgage.freedomblogging.com/2009/02/09/nar-economist-says-he-failed-to-foresee-credit-bubble/6446/

 

[Daedalus_IHB]

“Who would have thought a tangible asset would fall 45% in one year?"

Especially after rising 250% in 3 years. Nothing screams sustainable trend like past performance.

 

[no_vaseline_IHB]

Watching CNBC just now, commenting on the state of the toxic mortgage holdings on the hands of most banks. Larry Kudlow asked "Why can't they just sell this stuff without government intervention and be done with it?"

"If one bank sells it, we know the rest of them are insolvent!"

Rick Santelli

Larry had no response.

 

[Anonymous_IHB]

Obama to banker CEOs

http://www.politico.com/news/stories/0409/20871.html

“Be careful how you make those statements, gentlemen. The public isn’t buying that.”

“My administration,” the president added, “is the only thing between you and the pitchforks.”

 

[Anonymous_IHB]

Shanghai Mayor Sees Bankers Bereft of Conscience (Update1)

http://www.bloomberg.com/apps/news?pid=20601109&sid=aHQ9J1yvB8_M

“Financiers have the least conscience in the world when it comes to making money,” Han, 55, said in an interview. “By saying that, I would have offended many bankers and financiers, but this is my personal experience.”

 

[Soylent Green Is People_IHB]

I get an industrial strength Kool-Aid email from one of my Realtor contacts. He's always good for a super quote!

1) "Demand and a lower inventory, the Market has heated up. The expected Market Time for all of Orange County is currently at 2.5 months, a Sellers’ market. "

Yes, if your a bank selling REO's....

2) "In certain areas there may be a lid on appreciation, but in the hotter areas and price ranges there is also a floor on price depreciation! "

Certain areas having a lid on appreciation? That would be California. All of it.

I'm practically diabetic from all this swill. Insulin... STAT!

Remember, Tuesday is Soylent Green Day,

SGIP