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New York, 6:16 PM
Thu Dec 17
60 posts in the last 24 hours
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10/27/09
4060 Cents on the Dollar, Then Geithner Stepped In10/27/09
4060 Cents on the Dollar, Then Geithner Stepped In10/27/09
4060 Cents on the Dollar, Then Geithner Stepped In10/27/09
4060 Cents on the Dollar, Then Geithner Stepped InIf Goldman were losing money like every other bank, would we like them better? #goldmansachs
10/27/09
"If Goldman were losing money like every other bank, would we like them better?" I’d hope not, but you have a point. I think the problem is not that GS is minting money this year, it’s the fact that it is proposing astronomical bonuses this year. Lloyd B could have been a bit more sensitive to how this would be perceived. It’s not written in stone that compensation has to be 50% of revenues. It would have been more prudent to add $10 billion to reserves to cushion the blow should another 2008 happen. Believe me, everyone at GS would still be more than adequately compensated. #goldmansachs
10/28/09
10/28/09
I also agree with you that GS benefitted from Lehman's collapse, and the subsequent capital raising efforts of other financial institutions. Did I say they didn't? I just said they were minting money (w/o saying what was helping) and had no need to pay 50% of their windfall revenues to employees.
Please re-read my comment. I don't think we disagree. #goldmansachs
10/27/09
4060 Cents on the Dollar, Then Geithner Stepped In10/27/09
4060 Cents on the Dollar, Then Geithner Stepped InThat means they wanted to pay 60 cents on the dollar. #goldmansachs
10/27/09
10/27/09
4060 Cents on the Dollar, Then Geithner Stepped In10/27/09
4060 Cents on the Dollar, Then Geithner Stepped In08/04/09
Someone'sNo One's Lying About the Price of Tim Geithner's House08/04/09
No evidence that gold man lived in the house. No evidence that Geithner lived in the house. Maybe this is just a little piggy bank rental house and/or Mossad safe house.
08/04/09
Someone'sNo One's Lying About the Price of Tim Geithner's HouseThat video was just an ad for Keller Williams real estate though, wasn't it?
Both Nino Pascolati, your NoCal Foreclosure Specialist! featured on the sign at the beginning (with phone number clearly shown) and Debbi Meiliken, the Westchester House Honey with the world class legs, both work out of Keller Williams real estate. The real estate-industrial complex strikes again!
08/04/09
Someone'sNo One's Lying About the Price of Tim Geithner's HouseIf you have conflicting reports, it means the 1.6 likely came from a 2004 refinancing. Rates were pretty much spot-on from 1998 to 2004, you can check them out here:
[mortgage-x.com]
Your mission, should you choose to accept it, is to find out if he refi'd out of an adjustable-rate or interest-only mortage in 2004. Or, better yet, if he was using his home price's appreciation to generate cash via refinancing. Since rates were the same, it was one of the three, and none of them will look good!
08/04/09
Someone'sNo One's Lying About the Price of Tim Geithner's House08/04/09
08/04/09
08/04/09
Higher-end home prices (this qualifies) have been collapsing much faster than houses in "conforming" price ranges. Year over year, houses from 1-2 million are dropping in price at a 27.9% clip nationally.
[www.cnbc.com]
If you're looking for a place in that price range and you fear price collapses, renting is the right move.
08/04/09
08/04/09
Larchmont is a sort of a ghetto for foreign diplomats and executives who get transferred to New York for a term of maybe three or four years. The French-American School of New York is there. Lots of landlords who live off pricey and stable employer rentals. Also, Geithner did not live in one of the most expensive areas of Larchmont. (Okay, technically the house is not in Larchmont at all; it's in "the unincorporated area of the Town of Mamaroneck" with a Larchmont zip code.)
08/04/09
Someone'sNo One's Lying About the Price of Tim Geithner's HouseAnd I would argue that $1.6 makes him seem even MORE clueless. It's one thing to pay $1.6 and want to get out whole (ridiculous in this market though that is). But it's insanity to try to get +127% (based on $705,000) or even up +60% (based on $1 mil all-in cost) when all info points to the market having round-tripped back to 1997 levels.
08/04/09
08/04/09
08/04/09
We have a winner!
08/04/09
Anyhow in the early 2000's, home equity loans were cheaper, and for all we know he has one outstanding (hence why he's asking so much). The original purchase doc only has how the house was financed THEN; it would not have an update for a later home-equity loan.
08/04/09
04/30/09
04/30/09