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CMcG
17 years ago

By the way, why is
By the way, why is Chamberlin suddenly no longer doing “Money in the Morning” minutes on KOGO between 5:30 and 6:30 a.m.? Any ideas? He used to come on around 5:52 and then again at 6:22. This morning the earlier minute was replaced by the Wall Street Journal Report and the later one by Jeff Bellinger. Both of these contained dismal housing news (housing starts).

I checked the regular weekday schedule on KOGO and poof — he’s gone. Seems like he still has his weekend show, though.

JWM in SD
17 years ago
Reply to  CMcG

“I checked the regular
“I checked the regular weekday schedule on KOGO and poof — he’s gone. Seems like he still has his weekend show, though.”

Yeah, well, maybe that will go poof too soon enough.

Carlsbadliving
17 years ago
Reply to  JWM in SD

I usually see him on NBC
I usually see him on NBC 7/39 in the morning and yesterday he said that he was taking off the rest of the week and would be back on Monday.

CMcG
17 years ago
Reply to  Carlsbadliving

Carlsbad–thanks. It just
Carlsbad–thanks. It just seemed odd to me that the morning crew on KOGO didn’t say anything about where G.C. was. You know, “Substituting for George Chamberlin, who is on vacation, is Jeff Bellinger.” That kind of thing.

(former)FormerSanDiegan
Reply to  CMcG

On SDDT.com his column says
On SDDT.com his column says he’s in vacation.
I think he’s really secretly meeting with the NAR, Elvis Presley, and the PPT to concoct plans for next week’s rally.

http://www.sddt.com/News/article.cfm?SourceCode=20070816czy

SD Realtor
17 years ago
Reply to  JWM in SD

JWM I eat crow again. You
JWM I eat crow again. You called it about Chamberlain getting yanked. Good call.

SD Realtor

oops I just saw the other posts that he is on vacation… well let’s see how it goes.

JWM in SD
17 years ago
Reply to  SD Realtor

SDR, I doubt NCT moved that
SDR, I doubt NCT moved that quickly, but who knows. What I do know is that the MSM has flipped more to our side recently and the question is can they afford to hace a dimwit like Chamberhead consistently on the wrong side of the story? I think the answer in the long run is NO. When the LA Times and OC Register are running negative stories and have sections of their website devoted to the mortgage mess, then cannot afford to ignore it either.

Mr. Drysdale
17 years ago

Concerning what’s happening
Concerning what’s happening to Countrywide, don’t be surprised if you see the same thing happen to WAMU. 2/3rds of their entire portfolio is neg-am/teaser loans with deferred interest that WAMU is counting as income on their books because accrual accounting allows them to do so. When “THEY” start issuing restated financial statements, things will REALLY get ugly : (

To make matters worse, they also offer essentially no qualification commercial mortgages without most of the other required documentation that most lenders require, like Estoppel certificates, Subordination Agreements, etc.

Anonymous
Anonymous
17 years ago

Have enjoyed your theories
Have enjoyed your theories for a long time, but continue to be a non-believer in the real housing crash. AKA: here comes the Fed. The Fed will never let this go to pieces. Mark my words. They will monitize the damn thing and eat the inflation. Much to all of our disgust. By the way, you guys see the fix was in yesterday. When the market was down 300, the real bank stocks were up. What a miracle, today the fed cuts the rate.

Enjoy

JWM in SD
17 years ago
Reply to  Anonymous

Troll somewhere else
Troll somewhere else guy…its not amusing anymore.

Anonymous
Anonymous
17 years ago
Reply to  JWM in SD

Not even one day, and the
Not even one day, and the Fed cut. You can at least say I was right.

JWM in SD
17 years ago
Reply to  Anonymous

They cut the rate on short
They cut the rate on short term discount window not the fed funds rate.

Don’t bring a knife to a gunfight…you will lose.

Anonymous
Anonymous
17 years ago
Reply to  JWM in SD

Good luck with that
Good luck with that thinking. I guess it didn’t inject 120 billion of liquidity to the market, and it didn’t signal the fed’s change in position. or did it. The fed is not going to let millions of people loose there homes. Better buy youself some high quality bank stocks, further rate cuts are coming including your fed funds. Dont be surprised when the defaults get worse if they dont directly monitize the whole damn thing by buying these rediculous MBO’s and saving their hedge fund buddies.

Thanks for keeping the site honest Rich and letting us non-belivers check in and vent our similar frustrations that happen to conclude in a different endgame. No real crash due to no free market.

SHILOH
17 years ago

The Fed will have to let
The Fed will have to let housing correct – Wages are not high enough to sustain it. If 80% goes to mortgage, tax and upkeep…what is leftover for spending elsewhere in the economy? The next argument would be…only rich people will live in SD…they will all flock here and keep prices high. From what I could derive from 2006 data…there were 100,000 millionaires in SD County, approx = 3.4% of the 2,941,454 population in SD County for that year.