Month: January 2010

Sign of the Times

Today news is circulating that right before Christmas, Foreclosure.com filed for bankruptcy. Their “dynamic team of savvy real estate visionaries and brilliant software developers” ended up with too much debt and not enough revenue, much like the people whose homes they advertise on their website. Somehow, they have overlooked putting news of their bankruptcy on the site. I don’t know how long you’ll be able to check out the actual documents, but here they are. I love that they actually had to list the $200 in petty cash and $600 in Paypal accounts.

Going forward, one concern is the effect this will have on their creditors. They owe close to $19 million to Fifth Third Bank, and another $4 million to Legacy Bank of Florida. Unfortunately for Legacy Bank of Florida, they already have $8.6 million in non-performing loans, which doesn’t seem to include money owed by Foreclosure.com.

What a shame they won’t be able to simply foreclose on Foreclosure.com.

In closing: if you haven’t read this piece on The Obama Disconnect, do!; on the intersection of banking reform and mortgage cramdown; good news for the American economy, manufacturing is picking up on demand for American made products (proof that we can make things profitably other than lattes); here’s what conservative economic policies do to for our economy (note that the Reagan Years weren’t as good as the 40s, 50s, 60s, or those bad old 70s); happy songs make happy teenagers?; Fighting Women; global warming; you didn’t actually need medical care, did you?; and health costs keep rising.

Jeepers Shorties

Maybe you’ve noticed I haven’t said much about the UndieBomber?: Here’s how they do “airport security” in Israel. Notice that they don’t strip search people? Notice the lack of scanners that let authorities look under your clothes (how long till scanner porn shows up online?) without having to touch you (except with radiation of course)? Now here’s what the ACLU has to say about the future direction of airport screening. Remarkably reasonable, no?

It was a lousy decade: Prices went up. No jobs were created. Property values were stagnant. The net worth of American families declined when inflation was taken into account. The stock market merely churned. In short, it sucked. Glad it’s over. Let’s do what we can to make this decade better!

On Charity: a good info-graphic.

Banks only follow the laws they want to follow, fair housing edition: Wells Fargo being sued for [allegedly] steering minorities to crappy high interest low quality subprime loans.

A serious question: Should I commit to writing something — even if it’s something short — every day? You know where the comments are. At the moment I am committed to a writing schedule on my other sites. That has led to a perhaps irregular publishing schedule at ShortWoman. I have considered a 3 day a week schedule (and taking ads! did you know I have not made a penny at this site?) at various times in the past. Your opinions and the comments section were made for each other.