It’s a Blue Moon Day!
This May has seen two blue moons thanks to our retarded Sun calendar. I say retarded because it isn’t accurate and actually causes many problems. In this respect, smart and more precise calendars use the sun, the moon and constellations movements, but that is another topic.
Two full moons in one month is interesting. Think about two big tides in one month and how it affects fishing.
Anyone feeling it or is it just the caffeine rushing though me?
Indeed, it is a good day.
27-year-old, Robert Alan Soloway, accused of using networks of compromised “zombie” computers to send out millions upon millions of spam e-mails is in custody when a federal grand jury last week returned a 35-count indictment against Soloway charging him with mail fraud, wire fraud, e-mail fraud, aggravated identity theft and money laundering.
So smile, breath easier, your inbox will get skinnier soon enough. PLease read the story below and show we users are sick and tired of these leeches ripping off people. The again, people have to learn. In the meantime I say: “Burn the witch!”. (Monty Python)
Read the whole story here.
Maybe I’ve missed something, maybe I traveled too much, maybe my spiritual quest has taken me in a different direction but I still can’t afford $8,000,000 for a beautiful Italian. What gives?
With the recent surveys showing the Baby Boomer problem, i.e. not retiring early enough, still making a lot of money, the X generation being starved and the Y generation being very ticked off and turned off, it makes perfect sense that these cars go to elderly adults.
Here is a round up from VeloceToday.com of how much money has been spent lately on truly exceptional cars:
Most cars were Ferrari with the 330 TRI taking top bids, while others, such as the Pininfarina 340/375 berlinetta of 1953 and the Touring 340MM spider of 1953 have also reached very high selling prices, as well as the more recent 512S and the Dino 206S. Two 250GT SWB Ferraris were sold, one at $2,470,000 USD and the other at $2,210,000 USD, not including commissions. Here are the prices, please sit down and use a napkin should your saliva gland start drooling:
Dino 206S: $2,860,000 US.
Ferrari 512S: $3,120,000 US.
340 MM Touring:$2,730,000 US.
340/375MM PF: $5,005,000 US.
330TRI: $8,125,000 US.
Prices here and below do not include 12% commission.
Veloce Today is a great website with quality reports and articles, all free and at a great pace. Along with Sport Car Market, I religiously check both sites.
That a lending broker has no fiduciary duty towards the person he lends the money to is already scary but when the government stepped in to change this, guess who went up in arms?
According to a post on Calculated Risk, the Wall Street Journal wrote:
“Borrowers often see mortgage brokers as their allies, searching far and wide for just the right home loan at an attractively low price. But many brokers are making it clear they don’t see things that way. They are fighting efforts by federal and state politicians to impose a fiduciary duty on them to put their customers’ interests first, as lawyers, real-estate agents and financial planners generally are required to do with their clients.
“The mortgage broker does not represent the borrower,” says Chris Holbert, president of the Colorado Mortgage Lenders Association. “We sell access to money.” The industry group recently opposed language in Colorado legislation that would have required mortgage brokers to act “primarily for the benefit of the borrower.” That provision was later deleted. . . .”
Well that is a very lame way of trying to have it all. Unfortunately, you are shooting yourself in the foot.
And it continues with: “The National Association of Mortgage Brokers, the main nationwide trade group for brokers, argues that brokers work neither for consumers nor for lenders. Imposing a fiduciary duty would increase the risk of litigation over whether brokers are to blame for loans that go bad, says Joseph Falk, legislative chairman of the association.”
Yeah, why bother us, everyone knows the first people in line to get sued are the Realtors, not the lenders.
Yes, definitely a society of very little accountability. How far will we go? Isn’t it obvious we are heading for a disaster?