CIT Files For Bankruptcy; Taxpayers Lose $2.3 Billion
The New York Times writes: Three months ago, the CIT Group barely averted what it considered to be a ruinous bankruptcy filing that would likely have put the 101-year-old lender out of business. On...
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Commercial Mortgage Backed Security Delinquencies Hit Record High
On Mish’s blog I cam across the latest Realpoint Delinquency Report: In January 2010, the delinquent unpaid balance for CMBS increased by another $4.3 billion, up to $45.94 billion from $41.64 billion...
View ArticleApple Upsets Developer Communnity
From the Adobe blog: Apple Slaps Developers In The Face: By now you have surely heard about the new iPhone 4.0 SDK language that appears to make creating applications in any non-Apple-approved...
View ArticleFreddie Mac Asks for Another $10 Billion Bailout
Since whatever Freddie Mac is doing is so essential to all our lives they are asking for another $10 billion in extorted money: Troubled US government-backed mortgage firm Freddie Mac on Wednesday...
View ArticleFannie Mae Receives Another $8.5 Billion Bailout – Promises “No End in Sight”
After Freddie, it’s now Fannie’s move to loot the taxpayer once more: Fannie Mae has again asked taxpayers for more money — this time $8.4 billion — after reporting another steep loss for the first...
View ArticleJulien’s Celebrity Auction Achieves Record Results
This will be a little bit of an off-topic post. The past five days I was busy in Las Vegas, supporting Julien’s Auctions run their live sales via JuliensLive.com, which is powered 100% by my company’s...
View ArticleCelebrity Memorabilia Auction in Beverly Hills Achieves Record Prices
Once again I spent a weekend with one of our clients, Julien’s Auctions, supporting our auction software during the Icons & Idols sale in Beverly Hills, California. You can look up the results for...
View ArticleCalifornia To Impose Internet Tax – Amazon Shuts Down California Retailers
Today I received the following email from the Amazon Associates Team: Hello, For well over a decade, the Amazon Associates Program has worked with thousands of California residents. Unfortunately, a...
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Airbus, Alabama, and Minimum Wage Legislation
The WSJ writes Airbus’s New Push: Made in the U.S.A.: Airbus announced plans to start assembling passenger jets in the U.S. starting in 2015, a move likely to affect labor and trade relations on both...
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Mortgages Are Bullshit (Amagi Podcast @ Think Liberty Episode 7)
Join Dylan and Nima and they break down the details behind what most people have already caught themselves saying at one point or another… Mortgages are bullshit! Mortgages Are Bullshit lesson by...
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