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Thursday, June 28, 2007

The Wizard Of OZ Goes To Wall Street

The first thing we must remember is that the subprime damage is totally contained.***

Totally. No problems anywhere else.

The only reason that bond issues are failing, and IPOs are being withdrawn or cut back, and LBOs seem to be flagging, and GA might not be getting its Kia plant built any time soon is that the astrologers have determined that the stars are not favorable. It has nothing to do with any sort of widespread credit quality problem.

Just remember that. This is all very scientific and certain and the astrologers have never been wrong yet.

***Especially around Marines.
Hat tip The Housing Bubble Blog: You need an Uzi to deal with Florida construction liens:
Roughly 200 individual property owners are finding themselves in the first step of a foreclosure because of a legal tussle between well-known Palmetto builder deMorgan Communities and the company that did roads, utilities, sewers and drainage for the development.”

“Real estate attorneys said that the neighborhood’s troubles could be a taste of what is to come as contractors in the state’s limping real estate market use every remedy available to them under Florida law to get developers to pay.”
“But some Oak View residents have simply declined to get excited. Ray Bartro, a retired Marine who lives in Carpenteras, does not foresee any legal action affecting his ownership. ‘What are they going to do, tear up my home and cart it away? I don’t think so. I have an Uzi.’
More political science in action, I suspect.

Not trying to be argumentative, but there again you have the gun thing. You reference that last article with the same attitude. Why should this fellow be allowed to own an Uzi? Why is it with these men that they think that they need a gun to solve every problem. Gun owning is anti-social. We have plenty of public advocates and courts to resolve these problems.
Yeah, but sometimes you need a jarhead to produce the situation in which the courts and law are allowed to do their thing.

No jarheads - no courts and law. It's the soldiers that keep the courts and law alive.
"Not trying to be argumentative"

You succeeded splendidly. You have no argument.

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