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<\/a> <\/p>\nTo Our Clients, Colleagues and Friends, <\/p>\n
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- Two weeks ago the government made a profit of $146 million selling the Capital One warrants they got in return for TARP money, and this week the government sold its JP Morgan Chase warrants for a profit of $936 million! So far, the taxpayers have earned over $3 billion on these warrants.<\/li>\n<\/ul>\n
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- There was a time when the Oakland Raiders had phrases like Commitment to Excellence<\/i> and Pride and Poise<\/i>. Now, they\u2019re just an NFL embarrassment. Last Sunday, Brandon Marshall of the Denver Broncos had 21 catches in a game. There\u2019s only one Oakland Raider with as many as 21 catches all season!\n
- Our simple view on Tiger Woods: \u201cJudge not, lest ye be judged.\u201d Let\u2019s just leave the guy alone and mind our own business.\n
- Millions of college students learned economics from the Paul Samuelson text, called, simply, Economics<\/i>. Prof. Samuelson died this week at 94. We still have our copy of the book from our freshman year in Hanover , N.H. reading the book and discovering the magic of the demand curve and the supply curve meeting, watching the snow fall, listening to the professor walk us through this text. The book was written in very clear English, and its 886 pages made the dismal science really come alive.\n
- A client reminded us that gyp \u2018ems<\/i> were originated under FHA Section 245. The securities were called “Dolly Partons” for obvious reasons. They were also known as “Jeeps”.\n
- Someone else wrote \u201cI remember the GPM’s. I used to say they were the perfect loan program for people who either expected to win the lottery or had some terminal illness. \n
- Here\u2019s a graphic view of consolidation among mortgage lenders:<\/li>\n<\/ul>\n
<\/p>\n
- There was a time when the Oakland Raiders had phrases like Commitment to Excellence<\/i> and Pride and Poise<\/i>. Now, they\u2019re just an NFL embarrassment. Last Sunday, Brandon Marshall of the Denver Broncos had 21 catches in a game. There\u2019s only one Oakland Raider with as many as 21 catches all season!\n