FB: Liberty League

[PBR...]

well done rev.... this market is just beginning to tank the teaser rates on most subprimes hasnt even finished and climbed up to its new rate. as one analyst puts it re: subprime fall out "this is one of the slowest moving train wrecks we will ever see..."  case in point.... most of the collateral backing  abs and cdo's has yet to go bad roughly at the end of august "only" 46 billion had defaulted....that number will triple by middle of 2009 w/ the total sub loan defaults topping out at roughly 270 billion...mix in a 15 yr. housing start low until the housing prices bottom our writedowns aint gonna stop for the homebuilders...banks are laying off lawyers which handled abs/cdo mess and is a huge thing to be cutting them already. also throw in ~25,000 job cuts at the banks on the street over the first 10 months of 2007 its going to be a bumpy ride...there is a good case to tighten but man there is going to be a HUGE push outside to cut as layoffs and defaults dominate the headlines....as rev said we need a good dose of reality for the long term growth but is everyone willing to take their tablespoon of dirt...pbr steps off his soap box

[Tags]

RE: Keynes

Rev- Tags agrees he's not an altruist when it comes to pure free market capitalism driving the economy, but Tags is on the side of the Gov't playing at least a little role in guiding the economy, especially helping mitigate a slowing economy in hopes of keeping it out of recession.

Greenspan fueled this sub-prime fire during his tenure, and bank executives rolled with it, making ridiculous loans, and getting into the CDO market.

Tags thinks Bernanke may wise up and let them take it on the chin from here on out --- the answer is obviously not to increase money supply

RE: Quarters driving Companies not long-term strategies

Amen Gro!

[PBR...]

pbr moved most of his loot to stocks overseas and has mostly just fixed income stuff here in the ol' u.s.  (hello bill gross....like him or not pimco total return fund starting to wratchet up nav wise...)

[Tags]

Overseas isn't going to get out of this CDO mess unscathed though --- although the BOE & ECB aren't playing games like Bernanke, they're making banks eat their losses so they learn.

[tecmobowler]

TecmoBowler bought into Wynn's dip yesterday..

[Tags]

Tecmo, you have a long name to type each time you go 3rd person.

Just a random observation... Tags needs to get out of the office!

[PBR...]

Overseas isn't going to get out of this CDO mess unscathed though --- although the BOE & ECB aren't playing games like Bernanke, they're making banks eat their losses so they learn.

ahhh true that....that is why you go individual stocks....

[Frank Rossi]

Congratulations to Cortland for a solid victory over Union on Saturday.  The Cortland defense played outstanding, led by Ben Nagle.  Four sacks, 5.5 TFL, and 3 forced fumbles.  Wow, what a day.  The secondary hit with authority, breaking up 8 passes and intercepting 2.  Vinny Aiello had 3 break ups on his own, including one in the first quarter which set the tone and discouraged Union receivers from coming across the middle with him in the vicinity.

I had a chance to meet some of the Union kids too.  Really nice kids, and I mean that sincerely.  It's pretty rare these days when you hear a player congratulate an opponent on a nice catch, or a tough hit, but that is exactly what I heard on more than one occasion from Union kids while shooting on the sidelines.  Audino runs a class program, and I wish we played them more often.  I'm not naming names, but there are a few teams we play every season who seem more interested in starting fights once the third quarter rolls around, when it is obvious they cannot compete with us.  I'm so tired of the trash talking and the shoving after the plays.  Cortland - Union was a straight up football game between two sides who respected each other on the field, and understood sportsmanship. 

Let's hope we see each other next season in the NCAA's.

Was great to meet you in the Press Box Saturday -- thanks for stopping by, and congratulations on the victory to you and your team.  Except for the ineptitude of the clock operator, Cortland really runs a class act from top to bottom.

(Edit:  JT, I was thinking of you in the fourth quarter when the clock operator couldn't master such simple activities like stopping the clock on a first down 30 yards past the marker and keeping the clock stopped following a timeout.  People got nervous in the Press Box when I said loud enough for everyone to hear it, "The clock operator needs to stop the clock on the first down...I know you can hear me down there.")

I don't get it.  Doesn't a referee do the clock at all games?

What part don't you get?  Yes, a game official runs the clock -- no clue why Saturday's was so gawd-awful.

[Jonny Utah]

"Except for the ineptitude of the clock operator, Cortland really runs a class act from top to bottom"

This would make me assume that the clock operator was working for Cortland.  But he was an ECAC official I am assuming.  Thats what I didn't get.

[PBR...]

pbr thoughts are the dood running the clock got caught up in the game/play as a fan and forgot to watch the ref on stopping the clock...pbr has seen this happen before...at least pbr hopes as the alternative in helping a team would be less then cool....

[Frank Rossi]

"Except for the ineptitude of the clock operator, Cortland really runs a class act from top to bottom"

This would make me assume that the clock operator was working for Cortland.  But he was an ECAC official I am assuming.  Thats what I didn't get.

It was a joke, esp. for those that were there.

[PBR...]

somedays your the windshield and somedays your the fly.....pbr must of sprouted wings over night to play jeff goldblum because he is getting crushed today....(just venting...#@!$@!#$%$@)

[Tags]

somedays your the windshield and somedays your the fly.....pbr must of sprouted wings over night to play jeff goldblum because he is getting crushed today....(just venting...#@!$@!#$%$@)

+k PBR ... sh*tty days are never good

[DanPadavona]

gro agrees that quartely reporting and the knee jerk reactions they cause leads to companies dumping long term strategy for short term gains... but gro is going to pass on the financial enema at this time.

Warren Buffett has always said to be greedy when others are fearful.  There are a lot of long standing financial companies with conservative balance sheets selling at prices we haven't seen since the early 1990's bear market. 

I can't call bottoms, nor do I know anyone who can.  But I have some free money in my trading account which I'm itching to do some buying with.

My gut tells me we have another nasty drop ahead of us.  So maybe buy some now, hold some back for a possible better price.

[Tags]

There are a lot of long standing financial companies with conservative balance sheets selling at prices we haven't seen since the early 1990's bear market. 

I don't know about all that --- I'd wait and see how conservative they are once they're done writing down the CDO's and other debt securities they have on their balance sheets.

Granted, they may overshoot and write down more than necessary since their basing it on where the market is pricing them, but I wouldn't do anything until we get some hard numbers on actual loan defaults.

Just my two cents.