Cesarnc's market talk, gossips, rumours & fun
Fly naked on nudist holiday flight
Passengers must be clothed before boarding, dress before deplaning
Copyright 2008 Reuters. Click for restrictions.
URL: http://www.msnbc.msn.com/id/22895813/?GT1=10755
The House passed a $146 billion economic recovery package. The package faces an uncertain future in the Senate, where lawmakers in both parties are trying to tack on billions for senior citizens and the unemployed.
You US-ers, get ready the FEDEX guy. Buy cookies or something. The package is a coming
If you thought one Fed was trouble enough, now we have more FEDS in da house...
The FBI has opened investigations into 14 corporations as part of a crackdown on improper subprime lending, agency officials said Tuesday.
FBI officials told reporters the probes focused on potential violations including accounting fraud and insider trading. They did not identify the companies.
Not the ones in Ibiza.....http://www.forexfactory.com/images/icons/icon6.gif
why the market is still asleep
Authorities in economically stressed cities see an increase in torched houses. Is the nation's mortgage mess transforming more Americans into criminals?
By Marilyn Lewis
Arson is nothing new in Detroit. It's a time-honored weapon of the angry, vengeful, distressed and dispossessed in a city that gets hurt harder and sooner than others, making it a perfect place to spot early evidence of stress from the real-estate meltdown.
The Detroit Fire Department can't draw a definitive link between its rising arson rate (151 arrest warrants in 2007), rising foreclosures (up more than 65% last year) and falling housing prices (the region's median house price dropped 17.3% in the past four years, to $145,173).
But Capt. Steve Varnas of the department's arson section says he sees a connection: In 2005, the city issued only 80 arrest warrants for arson -- about half the number last year. "Things were going great," Varnas says. "There were fewer desperate people in 2004 and 2005."
Across the U.S., homeowners are searching for ways to escape from mortgages they can't pay -- or don't want to. A few are turning to arson, but it's too soon to turn anecdotes into meaningful statistics. Consumer pressure and state laws require speedy settlements, which means insurance companies are quick to pay up and slower to complete complex arson investigations. Definitive answers will come later.
Continued.....http://articles.moneycentral.msn.com...rnToArson.aspx
Is that wild or what..........
Yo, I'm going to burn down this house so I don't have to make mortgage payments......
HOLLA
yeah, Now it's starting to make sense. there was a report out a few days ago that stated that "Brooklyn" had the highest foreclosure rate in the country in regards to sub-prime loans. For the past several months, I have seen more than the usual homes burnt down. Good scheme if you want to get out of your mortgage but a majority of these folks are stupid because it will come back to bite them in the rear end. They are already late on their mortgage payemnts, if not in foreclosure. If someone, who is on time with his or her mortgage has their home burn down to the ground, the chances of getting caught are minimal but then again, where are they going to come up with the money to make their payments on time?
And also.....WHERE ARE THEY GOING TO LIVE......
HOLLA
