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Strategies & Market Trends : The Residential Real Estate Crash Index

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From: ChanceIs	4/9/2010 12:24:56 PM
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Well. Look's like we just bailed out Greece. I had called my Congressman earlier to plead that Timmy Geithner be thrown in jail (literally) citing the most recent round of Repo 105 - or resemblance thereof - end of quarter book cooking to reduce the appearance of risk exposure for the last 5 quarters. I mean...why not...like...we bailed them out...and did stress tests so we knew that Mr Taxpayer - that would be me - like....wouldn't lose their ass on the bailout - like we are doing on GM. I mean...that takes some scrotum - or a large campaign donation. So...like...why did we bailout Greece??? I mean...like...couldn't the f&^kin Europeans bail them out?? I mean...this must be like...moral hazard to the tenth power...like because we bailed them out when the Kaiser got his knickers in a bunch with penis envy of all the other Euros with colonial holdings...and then there was the little matter of the little man with the little mustache with his knickers in a bunch over getting his ass kicked in WWI...and then there was the matter of the French in Viet Nam...and then there was the ethnic cleansing in the Balkans where Bubba Clinton bailed them out. I mean like...I...like gyros...a whole lot better than I like a GM car...but...like...there is only so much lamb, yogurt and ouzo I can handle. What is the upside??? Or perhaps it is all about the downside - and realizing that - unlike subprime - it can't be contained. So like...the market is up on this great news!?!?! Gotta break 11K I suppose. At least Treasury are continuing to decline. Helps out real estate...The Horror..The Horror. Well there is the upside. What would you rather own, Detroit or Club Med??? ______________________________________ IMF Bailout For Greece To Come At SDR Rate Plus 300 bps Plus 50 bps Service Charge, Greece Says "Thank You US Taxpayers" new Submitted by Tyler Durden on 04/09/2010 10:56 -0400 * Greece * International Monetary Fund * Lloyd Blankfein * Reuters The IMF, realizing it had a catastrophe on its hands, has caved in and according to Reuters will provide US taxpayer money to Greece at vastly below market rates of the SDR rate plus 300 bps plus a 50 bps service charge. With the SDR rate at 0.26%, this comes out to a ridiculous 376 bps, or massively below where Greece could possibly borrow at market. And guess who takes the first loss risk on a pro rata basis? That's right US taxpayers - you. At least when Greece bankrupts eventually, which it will, and the debt is equitized, the US, well more like Lloyd Blankfein, will become owner of the Cyclades at zero cost. Win win for everyone except 99.5% of America.

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