Rich – You may want to read this…

[SD Realtor]

Yes cape sadly I would agree… and I think we will continue to see more bad behavior.

[LA_Renter]

There seems to be alot of this “delaying the pain” going on, I found this on BigPicture concerning derivatives.

“FASB: OK For USA to Turn Japanese
Wednesday, July 30, 2008 | 09:30 PM
in Derivatives | Legal | Valuation

Just when you think there is a glimmer of hope that some of these ne’er do well, lying, cheating, sniveling, cowardly bank CEOs might finally be forced to step up to the confessional and tell all, this comes along: FASB Postpones Off-Balance-Sheet Rule for a Year.”

“The longer they wait, the worse it ultimately will be. The long Japanese Recession (1989-2003) was caused by precisely this refusal to take the markdown, and engage in all manner of delays, excuses, procrastinations. Eee-diots — This only will make it worse!”

http://bigpicture.typepad.com/comments/2008/07/fasb-ok-for-usa.html#comments

Japan pulled out all of the stops and their land prices fell for 14 years. I am not saying we are the same as Japan in 1989 but it appears we are taking many of the same steps they did.

[LA_Renter]

There seems to be alot of this “delaying the pain” going on, I found this on BigPicture concerning derivatives.

“FASB: OK For USA to Turn Japanese
Wednesday, July 30, 2008 | 09:30 PM
in Derivatives | Legal | Valuation

Just when you think there is a glimmer of hope that some of these ne’er do well, lying, cheating, sniveling, cowardly bank CEOs might finally be forced to step up to the confessional and tell all, this comes along: FASB Postpones Off-Balance-Sheet Rule for a Year.”

“The longer they wait, the worse it ultimately will be. The long Japanese Recession (1989-2003) was caused by precisely this refusal to take the markdown, and engage in all manner of delays, excuses, procrastinations. Eee-diots — This only will make it worse!”

http://bigpicture.typepad.com/comments/2008/07/fasb-ok-for-usa.html#comments

Japan pulled out all of the stops and their land prices fell for 14 years. I am not saying we are the same as Japan in 1989 but it appears we are taking many of the same steps they did.

[LA_Renter]

There seems to be alot of this “delaying the pain” going on, I found this on BigPicture concerning derivatives.

“FASB: OK For USA to Turn Japanese
Wednesday, July 30, 2008 | 09:30 PM
in Derivatives | Legal | Valuation

Just when you think there is a glimmer of hope that some of these ne’er do well, lying, cheating, sniveling, cowardly bank CEOs might finally be forced to step up to the confessional and tell all, this comes along: FASB Postpones Off-Balance-Sheet Rule for a Year.”

“The longer they wait, the worse it ultimately will be. The long Japanese Recession (1989-2003) was caused by precisely this refusal to take the markdown, and engage in all manner of delays, excuses, procrastinations. Eee-diots — This only will make it worse!”

http://bigpicture.typepad.com/comments/2008/07/fasb-ok-for-usa.html#comments

Japan pulled out all of the stops and their land prices fell for 14 years. I am not saying we are the same as Japan in 1989 but it appears we are taking many of the same steps they did.

[LA_Renter]

There seems to be alot of this “delaying the pain” going on, I found this on BigPicture concerning derivatives.

“FASB: OK For USA to Turn Japanese
Wednesday, July 30, 2008 | 09:30 PM
in Derivatives | Legal | Valuation

Just when you think there is a glimmer of hope that some of these ne’er do well, lying, cheating, sniveling, cowardly bank CEOs might finally be forced to step up to the confessional and tell all, this comes along: FASB Postpones Off-Balance-Sheet Rule for a Year.”

“The longer they wait, the worse it ultimately will be. The long Japanese Recession (1989-2003) was caused by precisely this refusal to take the markdown, and engage in all manner of delays, excuses, procrastinations. Eee-diots — This only will make it worse!”

http://bigpicture.typepad.com/comments/2008/07/fasb-ok-for-usa.html#comments

Japan pulled out all of the stops and their land prices fell for 14 years. I am not saying we are the same as Japan in 1989 but it appears we are taking many of the same steps they did.

[LA_Renter]

There seems to be alot of this “delaying the pain” going on, I found this on BigPicture concerning derivatives.

“FASB: OK For USA to Turn Japanese
Wednesday, July 30, 2008 | 09:30 PM
in Derivatives | Legal | Valuation

Just when you think there is a glimmer of hope that some of these ne’er do well, lying, cheating, sniveling, cowardly bank CEOs might finally be forced to step up to the confessional and tell all, this comes along: FASB Postpones Off-Balance-Sheet Rule for a Year.”

“The longer they wait, the worse it ultimately will be. The long Japanese Recession (1989-2003) was caused by precisely this refusal to take the markdown, and engage in all manner of delays, excuses, procrastinations. Eee-diots — This only will make it worse!”

http://bigpicture.typepad.com/comments/2008/07/fasb-ok-for-usa.html#comments

Japan pulled out all of the stops and their land prices fell for 14 years. I am not saying we are the same as Japan in 1989 but it appears we are taking many of the same steps they did.

[michael]

Thanks for pointing out the discussion on CalcRisk. I’m curious as to whether actions such as these are sufficient to thwart off price declines? Or whether prices will still find a botton quickly and simply draw out the botton and make for an L shaped recovery lasting years? Thoughts?

[michael]

Thanks for pointing out the discussion on CalcRisk. I’m curious as to whether actions such as these are sufficient to thwart off price declines? Or whether prices will still find a botton quickly and simply draw out the botton and make for an L shaped recovery lasting years? Thoughts?

[michael]

Thanks for pointing out the discussion on CalcRisk. I’m curious as to whether actions such as these are sufficient to thwart off price declines? Or whether prices will still find a botton quickly and simply draw out the botton and make for an L shaped recovery lasting years? Thoughts?

[michael]

Thanks for pointing out the discussion on CalcRisk. I’m curious as to whether actions such as these are sufficient to thwart off price declines? Or whether prices will still find a botton quickly and simply draw out the botton and make for an L shaped recovery lasting years? Thoughts?

[michael]

Thanks for pointing out the discussion on CalcRisk. I’m curious as to whether actions such as these are sufficient to thwart off price declines? Or whether prices will still find a botton quickly and simply draw out the botton and make for an L shaped recovery lasting years? Thoughts?

[SD Realtor]

These actions have one single solitary goal which is to stall and provide time for market conditions to unwind and/or keep hoping for more bailouts.

They will not thwart off price declines in the long run, but rather will simply slow down the process of inventory hitting the markets which will do nothing but to prolong the slowdown, push the bottoming out process further out into the future and continue to hamper the market from returning to one that would be characterized as “healthy”.

In essence they will provide further support for people who have defaulted and are simply living in thier homes for free. They will also allow those who revved up HELOCs to the hilt so that they can buy boats and other toys to continue to live in thier homes without paying a cent because they cannot afford it, and they even get to go water skiing on the weekend!

Don’t worry though, 300 days later they may be foreclosed on. I really don’t see how that promotes a speedier recovery.

Just my opinion of course

[SD Realtor]

These actions have one single solitary goal which is to stall and provide time for market conditions to unwind and/or keep hoping for more bailouts.

They will not thwart off price declines in the long run, but rather will simply slow down the process of inventory hitting the markets which will do nothing but to prolong the slowdown, push the bottoming out process further out into the future and continue to hamper the market from returning to one that would be characterized as “healthy”.

In essence they will provide further support for people who have defaulted and are simply living in thier homes for free. They will also allow those who revved up HELOCs to the hilt so that they can buy boats and other toys to continue to live in thier homes without paying a cent because they cannot afford it, and they even get to go water skiing on the weekend!

Don’t worry though, 300 days later they may be foreclosed on. I really don’t see how that promotes a speedier recovery.

Just my opinion of course

[SD Realtor]

These actions have one single solitary goal which is to stall and provide time for market conditions to unwind and/or keep hoping for more bailouts.

They will not thwart off price declines in the long run, but rather will simply slow down the process of inventory hitting the markets which will do nothing but to prolong the slowdown, push the bottoming out process further out into the future and continue to hamper the market from returning to one that would be characterized as “healthy”.

In essence they will provide further support for people who have defaulted and are simply living in thier homes for free. They will also allow those who revved up HELOCs to the hilt so that they can buy boats and other toys to continue to live in thier homes without paying a cent because they cannot afford it, and they even get to go water skiing on the weekend!

Don’t worry though, 300 days later they may be foreclosed on. I really don’t see how that promotes a speedier recovery.

Just my opinion of course

[SD Realtor]

These actions have one single solitary goal which is to stall and provide time for market conditions to unwind and/or keep hoping for more bailouts.

They will not thwart off price declines in the long run, but rather will simply slow down the process of inventory hitting the markets which will do nothing but to prolong the slowdown, push the bottoming out process further out into the future and continue to hamper the market from returning to one that would be characterized as “healthy”.

In essence they will provide further support for people who have defaulted and are simply living in thier homes for free. They will also allow those who revved up HELOCs to the hilt so that they can buy boats and other toys to continue to live in thier homes without paying a cent because they cannot afford it, and they even get to go water skiing on the weekend!

Don’t worry though, 300 days later they may be foreclosed on. I really don’t see how that promotes a speedier recovery.

Just my opinion of course

[Author]

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