The Google keywords are too good today.Â It’s time for The Google keywords of the
- should i pull my money out of washington mutual (you should keep your accounts under $100k FDIC and all)
- washington mutual sucks (but the real question is whether or not they pull out of the tailspin)
- financial title company the mercury cos piercing the corporate veilÂ (you’ve come to the right place)
- pukatorium (who googles pukatorium?)
- yogurt shack contra costa county board of health (that can’t be good)
- old doberman with continuing cough (once again, take that dog to the vet, pronto!)
- where does fan mail from some flounder come from (Rocky and Bullwinkle)
- discovery builders bankrupt (couldn’t happen to a nicer guy)
- i called the witch doctor and this is what he said (David Seville and the Chipmunks)
Your EBITDA is not too sporty, boys.
I have to ring in on the discussion going on about actors and politics.Â I have two things to say.Â Ronald Reagan and Arnold Schwarzenegger.Â We love our celebrity politicians here in the Golden State.
So much for Lehman. I’ve got to wonder with BofA picking up Merrill, are they now on the hook for $14 billion? That deal sort of feels like when Sears owned Dean Witter. And who thought WAMU would make it through the weekend? They did. Gotta love this quote:
â€œHe’ll talk to regulators, he’ll talk to investors, he’ll talk to big guns who still have money in it, and he’ll talk to employees and figure out their roles,â€ he says. â€œThen he’ll figure out what the assets are really worth and which are the most viable and how to manage all the cockamamie mortgages they never should have made.â€
I didn’t know how to spell cockamamie before today, but that’s it in a nutshell. Thanks Charlie. And AIG may be on life support as well. It hasn’t been this bad since…Oh, come on! This is a softball. Bush I. This is what happens when you allow corporations to do whatever they want. This is what lack of regulation brings us. I do so wish they would do the right thing, but they won’t. It’s funny that capitalism and communism both don’t work for the same reason. And oh yeah, the dollar’s under pressure this morning. Wow! There’s a revelation! I cannot understand why anyone who makes under $250k a year would support these sorts of policies. They do not benefit them in any way. One of these days I have to read “What’s the matter with Kansas” although sometimes I think I could have written it.
It’s basically the same problem the title business has. This country is all about marketing and salesmanship. And then we pay a bunch of lawyers to bail our asses out of the mess we create. As the Brother says “If y’all would just act right I’d be out of work.” We won’t and he won’t be. The actual work is outsourced to the cheapest available and the marketing and sales divisions just make up shit as to what we’re getting and we don’t hold them accountable. The customer thinks they’re getting one product, but we really provide a different one and when things get sideways we turn it over to the legal department. We continue to build cars that we know will rollover because paying the claims is cheaper than fixing the problem. We continue to manufacture faulty tires because it costs too much to do it right. And then we walk around talking about how godly we are. Not so much. I am positive that decisions are made daily in our food chain about how things are handled and what’s dumped and what’s marketed that shouldn’t be. Lord knows they do it with our pets. Back in the day, You Know Who charged an ALTA inspection fee on every deal even though they never went out. (OK not never, only something like 17% of the time, I can’t remember the actual number) The final analysis was that they made money with the charge even though they were sued and lost. They knew that and charged it…or rolled the dice if you will. And send out the slick sales staff to gloss over whatever is really happening, because it’s all about making the sale. It has nothing to do with what’s right for the customer. Let the buyer beware. Well, now we’ve got a bunch of failed cockamamie mortgages, Lehman Bros. is toast and AIG and WAMU the largest thrift in the country teeter on the edge. Great plan boys. And no, I don’t know who pissed in my Wheaties this morning.