Thursday, June 28, 2007
The Wizard Of OZ Goes To Wall Street
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The only reason that bond issues are failing, and IPOs are being withdrawn or cut back, and LBOs seem to be flagging, and GA might not be getting its Kia plant built any time soon is that the astrologers have determined that the stars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.”More political science in action, I suspect.
“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.’
No jarheads - no courts and law. It's the soldiers that keep the courts and law alive.