Archive - Jun 19, 2011 - Blog entry

"I'm not sure I would say it was a house of cards..."--Dick Fuld

“Lenders are gangsters, and they can’t prove they own these homes. So they have no right to foreclose” AND “I plan to continue to take homes from Fannie Mae and Freddie Mac. I would buy them, but those groups can’t produce the notes showing they are the rightful owners to sell or foreclose on them.” So "I haven't been contacted by either entity nor has either one done anything to stop me"

Next week’s calendar is light, with another paydown on Thursday and plenty of POMO, so if ever stocks had an excuse to rally, this would be it.

"What may be the science story of the century is breaking this evening" ... and it provides a window of opportunity for sanity in the climate change debate ... including getting away from the next financial scam ...

Take some time to read my personal message on this Father's Day...

The bulls’ main argument is the bears.

From the Telegraph (UK): Moves by [UK] stronger banks to cut back their lending to weaker [EU] banks is reminiscent of the build-up to the financial crisis in 2008, when the refusal of banks to lend to one another led to a seizing-up of the markets that eventually led to the collapse of several major banks and taxpayer bail-outs of many more.

This is exactly what I've been crowing about for 2 years. It's actually much worse than Lehman... Much Worse!