Housing Bubble, credit bubble, public planning, land use, zoning and transportation in the exurban environment. Specific criticism of smart growth, neotradtional, forms based, new urbanism and other top down planner schemes to increase urban extent and density. Ventura County, California specific examples.
Wednesday, February 21, 2007
Weather prediction formula:
High Pressure ridge of ARM resets moving in + Rising Tide of defaults + Unseasonably interest rate temperatures + A deluge of inventory + Melting demand + = Perfect Storm
86 comments:
Anonymous
said...
Dawg, as an agent, I hate this impending Perfect Storm. There are just not enough buyers to make a living. As a homeowner, I hate it even more. My desire is to get rid of two houses very shortly and keep whatever equity I can get.
On a sidenote, our buddy has posted that he's talked to some attorneys about his Corporate borrowing scheme. Every day I think I dislike this guy more and more.
I am so glad I'm out for the duration. I fully expect world changing disruptions in the industry itself as a consequence of the looming wave. The best analogy is the shake ups in national policy following Katrina. Expect a 1/2 (yes) drop in the number of Realtors® and 2/3rds in agents. Those that are left will face higher professional standards with teeth and government oversight. Large portions of the back office will be eliminated, disintermediated, rolled into municipal paperwork, etc. People like me will still get our private personal use agent certificate and do our own deals anyway.
As to the corporate credit scam; pure troll. I was going to let people complain but he's not doing anything, it's all an elaborate set up for some other kind of scheme. It is actually clever the way he's been gradually diverging the bumbling persona of his blog from the pracical reality of his day to day actions.
Agreed, L'il Casey is addressing his falling site hits by dropping a big ol' pile of steaming, fresh troll shit.
The Big Con is in place. Take yer bets:
A. Someone has been trolling him back, and has fed him a line of BS and L'il Casey is falling for it.
B. L'il Casey has hooked up with bigger cons (unsecured multi-million dollar loans) (hate to see the vig on that) who will use him and leave him twisting.
C. He's actually stupid/lazy/greedy enough to try the corporate credit deal...but it will all end in tears when nobody will give him credit. But, it will ensure 6 more months of audience before even the hardcore fans tell him to piss up a rope and the site fades away into dusty html...
D. Blintzbrain has charges filed, and nothing comes of the corporate credit fantasy.
Now, the question of the day is...who do you complain to, when someone is abusing the corporation laws? SEC? FBI? Who in Sac?
the fellows over at STOPMORTGAGEFRAUD.com are at 1919 Penn. Let's just say that
1) I am less than 2 blocks away
2) I am freed up during lunch today
3) I will wander on over and try to talk to someone.
Considering that I found an SEC filing against one Robert L. White, who runs a law-firm out of that particular office that CorpBrokersInc points towards, the SEC could be a very good place to see as well.
I've also got the FBI phone number (internal) that I hope to call today or tomorrow.
I don't see how its possible to move PAST DEBT into a corporation. Doesn't work, as a corporation limits liability, but, that debt was taken on pre-corp.
Clearly so "highly respected" that they've asked our hero to keep their name off his blog!
Either that or they don't exist.
Or they do exist but they're not quite as "highly respected" as he'd like to believe.
But I wouldn't shop him just yet, as I'm dying to know how this can possibly work. After all, he's hoping to siphon off six figures (minimum), so how much money would the corporation have to be raking in for this to be even vaguely feasible?
I know about these lawyers...they call that place "THE FIRM" if ya know what I mean. Nigel's secret agent friend works for them on a part time basis, and I can "assure you, he is very real, his stories are real, and he is very lethal." Woe be unto the poor sap that underestimates this man. This guy will eat a can of beans to fart on a cub scouts' camp fire. I shit you not!
As for Nigel's "House prices haven’t gone up because of low rates, or flippers or Casey Serin. They’ve gone up because of population increases and a persistent demand for homes. - Nigel"
Look's like he is back to stroking Casey's backside with his tongue. I swear to God does this guy really believe half the shit he says? Let me guess Nigel, real estate is already making a comeback right? Now is the best time to buy? Don't wait until you are priced out? Nigel, you are a piece of shit that is also trying to hang on to your gravy train for as long as possible, face it, the ship is sinking. You will not be able to make it as a mortgage broker anymore, time for you to get a job suitable for someone with your educational background and skills...I suggest picking up garbage on the side of the road, those aluminum can redeemables can be quite lucrative.
Hello everyone, To anonymous: A & C then D. I admit I posted a comment at iaff. Color me trolled. There is no way any bank or private placement firm would loan KC a nickel. If he has some big, anonymous co-signers then anything is possible but I can't imagine anyone gaining anything from that, money laundering perhaps? How could anyone take CS seriously after 15 minutes with a google search? Yes it is a troll but he is serious. I don't think he could fake the tone and positivity of his language. I think he is on the last days of his debt 'bender'. Wouldn't cashcall just nail his ass?
Why oh why hasn't he been arrested yet? I want him to rot in jail for a long time. Actually what I REALLY want is a judge to issue a court order that he works 18 hours a day, 6 days a week for the next decade.
I would hate to have the taxpayers pick up his tab for jail time but at some point he's got to go...
I used to work in the auction market as a specialist - I won't get into the collectible I was dealing in, since it's a very small business and unlike you I don't feel the need for people to know me.
In any case, it's a little known fact that auctions are the last unregulated commodities market in the country. Many of our clients and customers had gobs of dirty money tied up in this commodity. The reason this item was very popular for laundering money was that you could have all the major auction houses holding sales for this particular item many times per year, so you could be liquid essentially when you needed to be. Money goes in dirty...money comes out clean oftentimes at a profit.
Talk about sweet deals. Why didn't anyone tell casey he should give up real estate and start laudering his fraudulent loans through the auction market. Seriously, no questions asked.
I too am wondering: who would ever loan Casey any more money, given how readily Googlable his shortcomings are? (Remember, Google was how his cash-back-at-closing gravy train got derailed in the first place.)
Is there any public-recordy way to find the name of the corporation he bought? Homey?
I just watched the movie Breach, so I feel I am just as qualified as Nigel's secreat assassin/accountant/professional athlete friend.
Casey, as one who has seen a movie regarding FBI work, you are safe. If we have/had spies in our FBI and it took years to catch them, you are safe. Go find more sweet deals. Trust me, I'm a citizen FBI agent. I know people.
Doesn't a lender have to know what type of business Case is involved in anyway before they go offering lines of credit?
I mean they're not going to offer credit if they have no sense of what his product is or turnaround is. They want to get paid too. Still at the end of the day he's just taking money out of one pocket and putting it in the other. He is doing this for the sole pupose of canceling the other debt and then he would need to come up with seed money for the next round of investments. WTF??
If you look at a chart of M3(broadest measure of money supply) growth since 2001, and a chart of real estate price increases nationally, you will see they are quite similar.
Housing, commodities, and health care have no artificial deflators (like wages from outsourcing + illegal immigrants). Thus, the price increases in these reflects the true growth in money supply, and are a better measure of the true CPI. Take away the hedonics in the government CPI number, and the true CPI is actually close to M3 growth (go find the shadow stats website if you are interested).
The net result: In terms of the money supply, there is NO housing bubble. In terms of wages, of course there is a bubble. But, who said wages have to track money supply growth.
For the last decade, the key has been to be in the market that is tracking M3 growth. Essentially, find the market "bubble" where the extra money sloshes to. From 95-99 it was stocks, from 01 - 05 it was commodities or housing, From 2006 forward, it appears to be stocks again.
What's dangerous is that more and more people are forced to speculate to simply stay in place financially. One needs a minimum of 15-20% annual return on investments to keep up with inflation after taxes.
"I have come to appreciate the power of leverage. I’ve said it before and I’ll say it again… leverage is a beautiful thing. However, I must treat it with great care, unlike I’ve been in the past. This is my chance to show that I am finally learning my lessons."
I dread, DREAD, borrowing money. I do it but very carefully and only with a complete understanding of the terms. I love my 0.00% balance transfers but wouldn't touch it unless I knew the penalties and could pay it off ASAP.
Casey gets so excited at the thought of borrowing money it is beyond me. It remindes me of Al Pacino's character in "Two for the Money" (check IMDB). He goes to a Gambler's Anon meeting and goes into a speech about how they all love the rush of losing...being on the edge of it all and losing everything. How the only time they feel alive is when they've been beaten down. Great movie, worth a rent.
I see a lot of this personality in Casey. He has been brainwashed/addicted by the get-rich-quick BS and it has an iron grip on him.
As much as I despise him and everything he has done, it really is quite sad to watch unfold. Not that I'll give up my front row seat to watch him selfdestruct but this kid doesn't have an effing chance and he is too dumb to see it.
He should have hit the road a long time ago with his coffee can full of dead presidents...
And presumably the turnover would have to be pretty massive if Casey is to cream off surplus funds as a personal loan?
Which rules out a startup business - but who the hell would sell his existing business (given that it has to be profitable as a pre-condition) to our dweebish friend? And how would he pay for it?
I’ve said it before and I’ll say it again… leverage is a beautiful thing.
Good call GameOver: yes, this "beautiful thing" line reeks of guru programming.
"I've heard it said before so I'll repeat it myself..."
(Aside to Nigel -- I always feel slightly guilty when your non-Casey posts get hijacked by Casey talk; would you prefer us to wait for the next Casey topic or are you keeping it organic, sweet deal, it's all good?)
I would prefer that all but breaking news try to stay topical to the 6 headings but I'm not two things: 1 I'm not anal enough to try to enforce it. 2 I'm not egotistical enough to think I could enforce it.
Things move fast in a stream of blog enviroment. I'm real close to the promised big roll out. Not for a few days but not weeks either. I'm shooting for maybe Friday late night in time for the Saturday night prime time "pissing match." Got the domain, got a prototype structure, got a host. Don't have security, don't got even informal registration and I am not satisfied that users will be fully protected. Not that i haven't found anything, just haven't tested the limits of anonymity so I can put my personal imprimatur on the label.
Call me "nigel" again and you'll get what the movie "lawnmower man" got. And I don't mean a recurring role in "Eureka." [just kidding but how's that for obsure sci-fi with Max Headroom?]
I used to be on the fence about whether SerCasey was a blithering idiot or a scam artist. I'll one up it from here on out...this kid is right out of The Omen.
I now believe he has known exactly what he's been doing all along and has absolutely no conscience. Thank goodness he is dumber than a fence post, or imagine the havoc he could wreak. He is some kind of genetic experiment gone bad, crossing Beavis & Butthead with The Terminator.
I don't know who to blame more, his enabling parents, Robert Kiyosaki and other scam artists or the fake Real Estate College. Maybe this confluence of forces has created the perfect unconscionable idiot.
When you buy an existing business, you usually assume all of its existing liabilities... I wonder if mop-head checked for any of those before buying the corporation?
It is actually clever the way he's been gradually diverging the bumbling persona of his blog from the pracical reality of his day to day actions.
I've thought this for several months now. There is such a disconnect between what he has done and what he says and what he wants that I am pretty sure that he is not as inept as he lets on.
He's a dolt, no doubt, and he will end up failing, but there is a side of him that is motivated.
The boycott was the catalyst to allow me to stop posting. But mainly I stopped posting at IAFF because I hate repeating myself, and because the comments do not phase him.
I think that in Caseyland, the hero feels that is so misunderstood and so far above the broad-masses-of the-people and the 9-5 cubicle dwellers that negative comments just reinforce that he's stronger and better and smarter than the rest of the people out there.
quote: >>I am pretty sure that he is not as inept as he lets on<<
Homey DA Clown has said that is the case. Homey also hinted at danger! Some of Casey's earlier, deleted blogs were much more lucid. Someone suggested on IAFF, way back when, that Casey was attempting to cultivate "plausible deniability".
"...crossing Beavis & Butthead with The Terminator."
Damn, now i need a new keyboard...snarfed Dew all over this one.
Casey isn't smart enough to have coordinated all fo this for some sort of master plan. He is an idiot and all of this will come back to haunt him for a LONG time. Maybe something like The Grudge meets Other Peoples Money?
backstage, You really only have to go back to anything he posted prior to IAFF say on the investment boards to see the difference. No "sweet," no Jamba, none of the aspects he's managed to cultivate in the minds of haters. He did manage to close 4 100%+ loans simultaneously in 3 states. We're way beyond what most people give him credit for.
Posting there is a waste. Too long for replies. All the serious subjects unanswered. All the best kids playing here.
Casey's problem isn't what he doesn't know. Casey's problem is that he doesn't even know what he doesn't know.
The mortgage bomb Why falling home prices may be good news for some homeowners, but doom for Wall Street.
*********
There is only one problem with Gretchen Morgenson's excellent article in Sunday's New York Times exploring whether troubles in the subprime lending industry will spread further into the opaque territory of high finance. No hyperlink is provided for the equally excellent paper by Joseph R. Mason and Joshua Rosner that marshals the most complete set of reasons I've yet seen for why we should be increasingly worried: "How Resilient Are Mortgage Backed Securities to Collateralized Debt Obligation Market Disruptions?"
Morgenson is one of the best business reporters currently working, and when she cites a paper it is usually worth following up on. (Another example was her discussion of energy trade speculation, which alerted me to the enlightening government report "The Role of Market Speculation in Rising Oil and Gas Prices: A Need to Put the Cop Back on the Beat.")
The report examines in detail structural changes in the mortgage lending industry over the past couple of decades, along with the evolution of the ever more complex financial schemes devised by Wall Street to create high-yield investment opportunities for those investors who wish to buy and sell the risk that borrowers may default on their loans. The conclusion is that the subprime woes are likely to cause further problems downstream. The recommendation is for increased "transparency" in how these financial instruments operate and how risk and value are calculated, both at the bottom-rung level of individual loans to home-buyers, and at the top-rung levels that include such exotic fare as "collateralized debt obligations," which pool together groups of mortgage-backed securities and allow investors to pick and choose exactly what slice of risk they want to expose themselves to.
Some excerpts from the executive summary, and a closing section on policy implications:
Structural changes in the residential mortgage lending industry including reductions in down-payment requirements, relaxed underwriting standards, the movement to automated valuation and underwriting systems largely went unnoticed by mortgage-backed securities investors until only recently. This report explains that those changes went unnoticed largely because of the existing complexity and valuation difficulties underlying today's mortgage-backed securities markets...
...High yields in mortgage-backed securities in the past several years led to a massive infusion of collateralized debt obligation "hot money" into the mortgage-backed security sector in an environment similar to that of the thrift crisis of the late 1980s. Like the thrift crisis and its aftermath, therefore, recent events not only threaten these institutions, but also threaten the U.S. consumer and taxpayer as well.
The key economic indicator to watch as 2007 continues? How far and how fast home prices continue to fall. Declining home prices are good for aspiring homeowners who have been kept out of the market by sky-high costs, but they could be very, very bad for investors who are depending on loan repayments from homeowners who can't pay their mortgage obligations and can't get out of them because their homes are now worth less than their loans. And if those investors continue to get hurt, that in turn will tighten credit access for everyone.
Readers who have been following my attempts to understand what the housing bust portends for the U.S. economy know that it is something of an obsession here. The Mason-Rosner report is the best, most up-to-date explanation of what's going on that I've read so far.
UPDATE: I don't usually link to letters signed anonymously, but this one blasts the report referenced above so vociferously that I thought it worth highlighting.
By the way, Pizza Pizza, whoever you are, thanks for making my night. I actually kept laughing about your posts when I went to bed and had to explain it to my significant other. For those who missed it..
Pizza Pizza said... Could the hater who trolled Casey with the $2 billion loan offer please step up to the podium please? You need to claim your Hater of the Year trophy.
Pizza Pizza said... I certainly do not advocate the death penalty for scammers, like China or Uzbekistan. However, I am all for some form of capital punishment for Casey. Namely, 20 minutes with the angry ladies from this blog kicking him in his lil' flipper factory, of course to be filmed and put up on youtube.
Actually, that could make a great reality TV show. Every day, Casey is given ten simple tasks to accomplish. (Open the mail, take out the trash, cut the grass, change his oil, etc.) For every task he gets done, he gets a Jamba Juice or Macaroni Grill meal or something. For every one he blows off, he gets a kick in the balls from Stephanie J at the end of the show. Maybe there could be different ball kickers on every episode. Creditors, B list celebs, and so on. Think of it as Jackass meets IAFF.
Every single person who has ever read his blog would tune in every week just to see the end of episode wrapup where the ball smashing gets meted out. Great entertainment, plus it puts a stop to the Casey Serin bloodline. A definite win-win for humanity.
I LOVE the idea of some talking head Jeff Probst type saying at the end of the show "Casey, you failed to stick to the early riser program, you did not do the hot/cold/hot/cold shower and you were not on anything resembling an organic let alone vegan diet today. That's three nut kicks from 'ol steel toes. Stephanie?"
I stopped believing the "L'il Casey" persona a long time ago. It's an act he's doing...what the true reasons are are up to him to admit, but if you look at his De.lish.ous history, he spent a LOT of time reseaching money making blogs, web writing, all of the elements to pull off a "lonelygirl" kind of site. He WAS pulling it off, too, until the AdSense debacle/payback.
His recent snippy tone and defiant retorts I think reveal more of the true person behind the posed dew-eyed-innocent pictures he loves so well - petulant, spoiled, blown out ego, self-entitled, ad mostly delusional. He's spent a lot of time listening to gurus and personality profilers and woo woo mew age bumper sticker sloganism, and *thinks* he's the person he wants to be...but the mask has huge cracks.
He's lazy, arrogant, and not half as smart as he thinks he is, and he has zero street smarts. He's the kind of criminal who gets caught, because the smart ones are two or more steps ahead of everyone else. Successful crooks work HARD to get their plunder, stupid and/or mediocre crooks like Casey, who have zero attention for details and don't look at all the angles, end up in jail...eventually.
And that won't stop him, he'll try again when he gets out.
It occurs to me that my mental image of Stephanie J only goes ankle-high. All I see in my mind's eye is one of her Docs kicking Casey in the "flipper factory", with a muddy Jeep tire in the background.
Thank you for the re-post. Missed that one the first time around. Effing hilarious!
I can't wait for the day that Stephanie's get the chance to properly introduce her boot to Casey's nuts. I think I'll keep YouTube open all day just so I can watch it over and over and over again!
It's a perfect storm, but you've got the elements wrong.
1) A criminal clique in China using slave labor to mass produce consumer products, which they lend US consumers the dollars to buy, all the while siphoning off hundreds of millions of these dollars for themselves.
2) A criminal clique in the US keeping interest rates artificially low so the the US consumer can borrow money from the Chinese to buy their industrial production, all the while siphoning off hundreds of millions of dollars of the borrowed money in interest and other fees.
3) A propaganda machine that makes sure neither population is aware of what is going on, and which will, when the going gets really tough, blame the government of the other country.
It occurs to me that my mental image of Stephanie J only goes ankle-high.
You need a better imagination.
If today (today, about an hour from now to be exact) weren't my 20th Wedding Anniversary (all caps trust me) I'd offer a few salient suggestions on that score.
I'm comfortable with the boots image, as long as the toe is tapping impatiently, and the nubbly tire-tread has chunks of Casey imbedded in it.
As for Casey...
I do wish I had a couple of million bucks I could wantonly throw away; because I'd buy Casey, and make him my personal 'Renfield' and make him do all sorts of things for my personal entertainment; like putting him in banana thongs, and making him dance for a bunch of old ladies. Anything remotely humiliating; I'd make him do it. There is an endless potential for hilarity if I had a Casey. It seems a good value for a paltry 2 million buckaroos.
Issuing stock??? He doesn't have enough federal agencies investigating him already, so he thinks it would be fun to include the SEC as well? (Although actually as far as federal agencies, the SEC is both incompetent and relatively impotent especially toward such an insignificant entity... but still.)
It used to be a joke in a family to try to assemble the entire alphabet in terms of aggregate degrees (Dad has BA, JD, MLA; Mom has BS, MA, PhD; sister has BA, PhD (in process); me BA, BS (in process). Are the Serins trying to do the same thing, but in terms of local, state, and federal law enforcement agencies? AG, DA, FBI, DOJ, SEC, INS (one can only hope), etc.
Hey, everyone needs a hobby. And probably between the two, RK probably finds the Serin clans alphabet assembly to be far more honorable than my family's.
Stick to your imaginations fellas, the reality would probably be a let-down.
Just make sure you picture me as a 25-year old hottie (but not bimbo-like), not too girly, but with a nice feminine edge....Not the grumpy woman who's turning 36 tomorrow, who purposefully knocks over store displays for her own amusement (usually when someone's kid is standing around to be blamed for it).
Rob, if enough money finds it's way into the tip jar, can Casey be purchased for Stephanie J's personal amusement?
Perhaps enough to approach Galina and "rent" him for one night. The rental would be free, I'm afraid of how much she'd demand to allow us to return him.
I'm so excited, I may have to go thong shopping. Maybe something in a nice fur-kini, perhaps...
If Mrs. Dawg buys me another one for her anniversary amusement [again] maybe you can get her to donate one of the older models to the cause.
Forgive me for this Stephanie J, but now that you're in a pinafore you're starting to resemble Little Buttercup in my mind. And, as this is a CS thread, perhaps I should switch my mind from "HMS Pinafore" to "The Mikado".
@ Legion "By the way, Pizza Pizza, whoever you are, thanks for making my night." No problem Legion, I aim to please. I've been here for a while, I just change my name constantly.
@ Steph J I was thinking more of a camo Lara Croft kind of thing. Will that work?
@ Rob Dawg Steph J don't wear no frilly dresses. Steph J is so badass she once beat the hell out of Nigel's forensic accountant and Chuck Norris AT THE SAME TIME.
HMMM...We seem to have a little disagreement about how much of an idiot CS really is.
@GameOver: Casey isn't smart enough to have coordinated all fo this for some sort of master plan.
@Rob Dawg: He did manage to close 4 100%+ loans simultaneously in 3 states. We're way beyond what most people give him credit for.
I think he's more lazy and ignorant than stupid. He wants so much to be the passive-cash-flow guy that he believes the guru pabulum. He tries to apply the guru theories to create his own reality. Problem wiht creating your own reality is that REAL reality always wants to intrude and show you that personal realities are simply fantasies.
Rob Dawg said it best when he said Casey's problem isn't what he doesn't know. Casey's problem is that he doesn't even know what he doesn't know. Unknown unknowns ...The unk-unks will kill you.
"Rob Dawg: He did manage to close 4 100%+ loans simultaneously in 3 states. We're way beyond what most people give him credit for."
I think that Rob Dawg is giving our FFF way too much credit here. We've been in one of the loosest monetary periods EVER. M3 has been expanding at a phenomenal rate and banks have literally been giving money away (ie. my reference before to 0.00% balance transfers).
If Casey had pulled this off back in the day when you had to sit down across from a banker and fillet your finances out in front of them plus put a minimum of 20% skin in the game…Then I’d be impressed. For the past 5 years all you have had to do is breath to get a loan.
Stated Income? No problem! No Doc? Sure! 110% LTV? Of course! Option ARM? We all want flexibility! Illegal alien? Welcome to the US, here is a mortgage!
Casey didn’t pull one over on the banks.
The banks set themselves up for failure when they abandoned all reality and subprime mortgages were accepted as the next growth market instead of the riskiest time bomb they are in mortgage land.
Thanks, we are going to the Olive Garden. Wait, all you purists, it is Ash Wednesday, AND we have a gift certificate AND we have a coupon. Yes, it is faux Italiano, yes, a bit hokey but it is quiet/relaxed and when you stick to salads, warm bread and pastas how can you get bad food? The volume helps with freshness as well. We aren't talking veal cutlets at Octavio's sure but given the circumstances the previous bashing by others is a bit harsh. For all our weird cult-like practices we Catholics serve wine at Mass and don't have any non-drinking days. Think about it. We fast, we confess but in the important things we do not abstain. [lighthearted, don't take any of this too seriously]
As an Italian gal (originally from NY) who most often makes her sauce from scratch, I am most disappointed. But since you've got a gift certificate AND a coupon, I'll forgive you.
Anyone gots uh copy o' da 24% guarantee flyer he made up? He registered Able Buyer an' Finch wiff Galina as fictitious names but never filed wiff da state ta incorporate?
Placer County
http://www.criis.com/placer/sfictitious.shtml
Doc Nbr Date Business Name
2005-0001097- 15-APR-2005 FINCH PROPERTIES
Owner SERIN, CASEY
Owner SERIN, GALINA
Doc Nbr Date Business Name
2006-0000435- 14-FEB-2006 ABLE BUYER
Owner SERIN, CASEY K
Owner SERIN, GALINA
Doc Nbr Date Business Name
2006-0000435- 14-FEB-2006 ABLE BUYER
Owner SERIN, CASEY K
Owner SERIN, GALINA
If ya remember, I called him on dis here last year about da Able Buyer an' Finch scam an' he blew it off. Yo RB Boy, ya need ta gots yo' niggas at da FBI peep into all o' da properties dat Aleksey an' Anna gots owned an' flipped. Where do ya th'o't Casey kat learned it from? Anyone ax Casey kat where he got da money ta gank his first condo?
I see dat ya peeps been looking up Rescom. Good job. RB BOY, gots yo' peeps git on dat. There iz some real bad scamming going on dere an' Casey kat refuses ta answer anythin' about him working dere. Why iz dat?
In case ya peeps don' know, da two California houses iz set fo' acution dis here week an' da New Mexico crib fo' da end o' March. I hope all o' ya gots been calling up da lawyers on deez houses an' giving dem da 411.
This latest scam by Casey kat iz da craziest yet. Using uh dummy shell company ta obtain fraudulent loans from banks. I bet da company he uses iz incorpated in NV or DE, as dey gots da most lax corporate laws. Homey gonna be watchin ya on dis here reel close like. I will find out if ya try ta do dis here scam an' I won't let ya git away wiff it. FO SHO
I know dat Casey kat reads every one o' muh ma fuckin posts, becuase dat iz how he called da New Mexico lawyers. He called dem two days afta I posted da phone number an' case number here.
I be not going ta give him any mo' 411 ta cover his ass wiff. Sorry Casey. I don' werk fo' ya biyatch. But soon ya will be working fo' me wiff muh ma fuckin cousing Leroy making license plates an' wearing lipstick as his ho.
Casey, Chris says ta stop calling dammit!! He don' wants ta jive ta ya nahh mo. GOT IT? And why don' ya come clean about yo' nigga Andy at Countrywide????
Man, ya don' like telling da truth. Iz ya gonna tell da truth at yo' trial? Or iz ya gonna wait until Galina flips on ya? You know she has been jivin' ta her own attorney, right? RIGHT? hehehe.. yeea she has Casey kat. She iz mighty scared o' jail. She been readin yo' blog. Come one an' tell us dat ya know about dis here. It'sotay. We already know da truth. Tell us about her meeting wiff uh divorce lawya. What .....she didn't tell ya? BWAHAHAHA
Love,
Homey
PS. I WILL be there smilin at you during yo trial. COUNT ON IT
The banks set themselves up for failure when they abandoned all reality and subprime mortgages were accepted as the next growth market instead of the riskiest time bomb they are in mortgage land.
Rob- Any thoughts?
The "banks" made bucketloads of money on the transactions and literally manufactured even more with the phantom equity spontaneously created by those same deals. They didn't even hold the phantom assets or unsecured debt; instead they sold it all on the secondary markets. All they are stuck with is what is in their hands when the hot potato stops being handed around.
@bemused guy Oh, dear. I would hope you'd give me the benefit of knowing enough to leave *something* to the imagination. I don't need a cameltoe to feel like a woman. That's far too unclassy a look for me.
The real me: Bootcut jeans with frayed cuffs, cute T with something like this on it for shock value, a tasteful loose-knit cardie over that, curly brown hair down to the middle of my back, emo-glasses,doc martens like these. That's me. Fern green jeep; tan soft top, skullhead, of course hanging from the mirror, and my middle finger pointed at the a-hole in the hummer.
It wouldn't work. He'd take the $2 Million but then back out on the contract. And then the banana hammock would keep falling off because it's too lOOse! You would need to use a child sized eyepatch.
Just buy the Casey doll and dress him up in baby clothes and then run over it with the jeep a few dozen times.
Ok, I should go and do my proofreading for the final draft like a good girl... I HATE DOING THIS! ISN'T THAT WHAT EDITORS ARE FOR? Bleah. I keep finding reasons to putz around online instead of working.
As I understand it, most or nearly all mortgages that are sold on the MBS have foreclosure provisions. If the mortgage fails in the first two years the originator has to take the mortgage back. I think this applies even when there isn't evidence of fraud.
86 comments:
Dawg, as an agent, I hate this impending Perfect Storm. There are just not enough buyers to make a living. As a homeowner, I hate it even more. My desire is to get rid of two houses very shortly and keep whatever equity I can get.
On a sidenote, our buddy has posted that he's talked to some attorneys about his Corporate borrowing scheme. Every day I think I dislike this guy more and more.
Anyone else think the "corporate lawyer(s)" Casey supposedly talked to are some fly-by-night operation just taking advantage of the gullible moron?
Wouldn't an actual lawyer risk being disbarred if they gave out such foolish advice?
As the house of cards tumbles, Casey bounces contentedly on his parents' trampoline...
A little detective work...
CORP BROKERS INC = ROBERT L. WHITE
http://www.google.com/maps?q=320+Pine+Ave,+Long+Beach,+CA+90802&sa=X&oi=map&ct=title
Going to the Better Business Bureau and putting in the address of CBI yields "ROBERT L WHITE"
Putting that name into the SEC filings and I find this:
http://www.sec.gov/litigation/litreleases/lr17196.htm
Millionaire.com?
Securities Fraud?
I am so glad I'm out for the duration. I fully expect world changing disruptions in the industry itself as a consequence of the looming wave. The best analogy is the shake ups in national policy following Katrina. Expect a 1/2 (yes) drop in the number of Realtors® and 2/3rds in agents. Those that are left will face higher professional standards with teeth and government oversight. Large portions of the back office will be eliminated, disintermediated, rolled into municipal paperwork, etc. People like me will still get our private personal use agent certificate and do our own deals anyway.
As to the corporate credit scam; pure troll. I was going to let people complain but he's not doing anything, it's all an elaborate set up for some other kind of scheme. It is actually clever the way he's been gradually diverging the bumbling persona of his blog from the pracical reality of his day to day actions.
Agreed, L'il Casey is addressing his falling site hits by dropping a big ol' pile of steaming, fresh troll shit.
The Big Con is in place. Take yer bets:
A. Someone has been trolling him back, and has fed him a line of BS and L'il Casey is falling for it.
B. L'il Casey has hooked up with bigger cons (unsecured multi-million dollar loans) (hate to see the vig on that) who will use him and leave him twisting.
C. He's actually stupid/lazy/greedy enough to try the corporate credit deal...but it will all end in tears when nobody will give him credit. But, it will ensure 6 more months of audience before even the hardcore fans tell him to piss up a rope and the site fades away into dusty html...
D. Blintzbrain has charges filed, and nothing comes of the corporate credit fantasy.
Now, the question of the day is...who do you complain to, when someone is abusing the corporation laws? SEC? FBI? Who in Sac?
the fellows over at STOPMORTGAGEFRAUD.com are at 1919 Penn. Let's just say that
1) I am less than 2 blocks away
2) I am freed up during lunch today
3) I will wander on over and try to talk to someone.
Considering that I found an SEC filing against one Robert L. White, who runs a law-firm out of that particular office that CorpBrokersInc points towards, the SEC could be a very good place to see as well.
I've also got the FBI phone number (internal) that I hope to call today or tomorrow.
I don't see how its possible to move PAST DEBT into a corporation. Doesn't work, as a corporation limits liability, but, that debt was taken on pre-corp.
Alrighty then! Where does the corporation get the money to loan Our Hero?
Highly respected (and very expensive) law firm. Guess that means they picked up the Denny's check!
Clearly so "highly respected" that they've asked our hero to keep their name off his blog!
Either that or they don't exist.
Or they do exist but they're not quite as "highly respected" as he'd like to believe.
But I wouldn't shop him just yet, as I'm dying to know how this can possibly work. After all, he's hoping to siphon off six figures (minimum), so how much money would the corporation have to be raking in for this to be even vaguely feasible?
I know about these lawyers...they call that place "THE FIRM" if ya know what I mean. Nigel's secret agent friend works for them on a part time basis, and I can "assure you, he is very real, his stories are real, and he is very lethal." Woe be unto the poor sap that underestimates this man. This guy will eat a can of beans to fart on a cub scouts' camp fire. I shit you not!
As for Nigel's
"House prices haven’t gone up because of low rates, or flippers or Casey Serin. They’ve gone up because of population increases and a persistent demand for homes. - Nigel"
Look's like he is back to stroking Casey's backside with his tongue. I swear to God does this guy really believe half the shit he says? Let me guess Nigel, real estate is already making a comeback right? Now is the best time to buy? Don't wait until you are priced out? Nigel, you are a piece of shit that is also trying to hang on to your gravy train for as long as possible, face it, the ship is sinking. You will not be able to make it as a mortgage broker anymore, time for you to get a job suitable for someone with your educational background and skills...I suggest picking up garbage on the side of the road, those aluminum can redeemables can be quite lucrative.
Hello everyone,
To anonymous: A & C then D. I admit I posted a comment at iaff. Color me trolled. There is no way any bank or private placement firm would loan KC a nickel. If he has some big, anonymous co-signers then anything is possible but I can't imagine anyone gaining anything from that, money laundering perhaps? How could anyone take CS seriously after 15 minutes with a google search?
Yes it is a troll but he is serious. I don't think he could fake the tone and positivity of his language. I think he is on the last days of his debt 'bender'. Wouldn't cashcall just nail his ass?
I agree this was Troll bait.
Private company but issuing stock?
I think not.
Why oh why hasn't he been arrested yet? I want him to rot in jail for a long time. Actually what I REALLY want is a judge to issue a court order that he works 18 hours a day, 6 days a week for the next decade.
I would hate to have the taxpayers pick up his tab for jail time but at some point he's got to go...
Actually what I REALLY want is a judge to issue a court order that he works 18 hours a day, 6 days a week for the next decade.
...falling to 8 hours on Sundays. I mean, we'd hate to sound harsh and all.
@ Miguel
Absolutely!
We might be Haters but we've still got compassion. I vote his 8 hour shift on Sunday be @ the local Jamba Juice.
FYI Case,
I used to work in the auction market as a specialist - I won't get into the collectible I was dealing in, since it's a very small business and unlike you I don't feel the need for people to know me.
In any case, it's a little known fact that auctions are the last unregulated commodities market in the country. Many of our clients and customers had gobs of dirty money tied up in this commodity. The reason this item was very popular for laundering money was that you could have all the major auction houses holding sales for this particular item many times per year, so you could be liquid essentially when you needed to be. Money goes in dirty...money comes out clean oftentimes at a profit.
Talk about sweet deals. Why didn't anyone tell casey he should give up real estate and start laudering his fraudulent loans through the auction market. Seriously, no questions asked.
I too am wondering: who would ever loan Casey any more money, given how readily Googlable his shortcomings are? (Remember, Google was how his cash-back-at-closing gravy train got derailed in the first place.)
Is there any public-recordy way to find the name of the corporation he bought? Homey?
I just watched the movie Breach, so I feel I am just as qualified as Nigel's secreat assassin/accountant/professional athlete friend.
Casey, as one who has seen a movie regarding FBI work, you are safe. If we have/had spies in our FBI and it took years to catch them, you are safe. Go find more sweet deals. Trust me, I'm a citizen FBI agent. I know people.
Doesn't a lender have to know what type of business Case is involved in anyway before they go offering lines of credit?
I mean they're not going to offer credit if they have no sense of what his product is or turnaround is. They want to get paid too. Still at the end of the day he's just taking money out of one pocket and putting it in the other. He is doing this for the sole pupose of canceling the other debt and then he would need to come up with seed money for the next round of investments. WTF??
If you look at a chart of M3(broadest measure of money supply) growth since 2001, and a chart of real estate price increases nationally, you will see they are quite similar.
Housing, commodities, and health care have no artificial deflators (like wages from outsourcing + illegal immigrants).
Thus, the price increases in these reflects the true growth in money supply, and are a better measure of the true CPI. Take away the hedonics in the government CPI number, and the true CPI is actually close to M3 growth (go find the shadow stats website if you are interested).
The net result: In terms of the money supply, there is NO housing bubble. In terms of wages, of course there is a bubble. But, who said wages have to track money supply growth.
For the last decade, the key has been to be in the market that is tracking M3 growth. Essentially, find the market "bubble" where the extra money sloshes to. From 95-99 it was stocks, from 01 - 05 it was commodities or housing, From 2006 forward, it appears to be stocks again.
What's dangerous is that more and more people are forced to speculate to simply stay in place financially. One needs a minimum of 15-20% annual return on investments to keep up with inflation after taxes.
"I have come to appreciate the power of leverage. I’ve said it before and I’ll say it again… leverage is a beautiful thing. However, I must treat it with great care, unlike I’ve been in the past. This is my chance to show that I am finally learning my lessons."
I dread, DREAD, borrowing money. I do it but very carefully and only with a complete understanding of the terms. I love my 0.00% balance transfers but wouldn't touch it unless I knew the penalties and could pay it off ASAP.
Casey gets so excited at the thought of borrowing money it is beyond me. It remindes me of Al Pacino's character in "Two for the Money" (check IMDB). He goes to a Gambler's Anon meeting and goes into a speech about how they all love the rush of losing...being on the edge of it all and losing everything. How the only time they feel alive is when they've been beaten down. Great movie, worth a rent.
I see a lot of this personality in Casey. He has been brainwashed/addicted by the get-rich-quick BS and it has an iron grip on him.
As much as I despise him and everything he has done, it really is quite sad to watch unfold. Not that I'll give up my front row seat to watch him selfdestruct but this kid doesn't have an effing chance and he is too dumb to see it.
He should have hit the road a long time ago with his coffee can full of dead presidents...
And presumably the turnover would have to be pretty massive if Casey is to cream off surplus funds as a personal loan?
Which rules out a startup business - but who the hell would sell his existing business (given that it has to be profitable as a pre-condition) to our dweebish friend? And how would he pay for it?
For you wannabe Sherlock Holmes types that have the time to check up on SirCasey.
http://www.publicrecordcenter.com/californiapublicrecord.htm
I’ve said it before and I’ll say it again… leverage is a beautiful thing.
Good call GameOver: yes, this "beautiful thing" line reeks of guru programming.
"I've heard it said before so I'll repeat it myself..."
(Aside to Nigel -- I always feel slightly guilty when your non-Casey posts get hijacked by Casey talk; would you prefer us to wait for the next Casey topic or are you keeping it organic, sweet deal, it's all good?)
Well well well:
PLACER COUNTY PUBLIC RECORDS
2006-0000435- 14-FEB-2006
ABLE BUYER
Owner SERIN, CASEY K
Owner SERIN, GALINA
Naw, she's got nothing to do with it!
But before I take on a bunch of new debt, I need to have a good plan for repayment…
I'm sure Dumbledor will conjur up some gold coins from the ether.
the most he can get from the scam-a-rific corp brokers inc is a guaranteed 50K corp credit loans, which doesnt dent his debt.
Also, i wonder what package casey bought? The silver for 2K? The gold for 4K, or the platinum at 8k?
Casey registered that corp last week.
Casey registered that corp last week.
And met with the lawyers, according to his blog, today.
This isn't just fishy, it's a whole rotting shark carcass.
Correction, Able Buyer is a year old. 2006
Ah...
And here I thought he had something brewing.
Still, his wife is involved.
(Aside to Nigel)
Gad-damnit, that should of course say "Aside to Rob". I guess he's not the only one with Nigel on the brain.
Co-stan-za!
lawnmower,
Okay, that makes more sense.
I would prefer that all but breaking news try to stay topical to the 6 headings but I'm not two things:
1 I'm not anal enough to try to enforce it.
2 I'm not egotistical enough to think I could enforce it.
Things move fast in a stream of blog enviroment. I'm real close to the promised big roll out. Not for a few days but not weeks either. I'm shooting for maybe Friday late night in time for the Saturday night prime time "pissing match." Got the domain, got a prototype structure, got a host. Don't have security, don't got even informal registration and I am not satisfied that users will be fully protected. Not that i haven't found anything, just haven't tested the limits of anonymity so I can put my personal imprimatur on the label.
Call me "nigel" again and you'll get what the movie "lawnmower man" got. And I don't mean a recurring role in "Eureka." [just kidding but how's that for obsure sci-fi with Max Headroom?]
I used to be on the fence about whether SerCasey was a blithering idiot or a scam artist. I'll one up it from here on out...this kid is right out of The Omen.
I now believe he has known exactly what he's been doing all along and has absolutely no conscience. Thank goodness he is dumber than a fence post, or imagine the havoc he could wreak. He is some kind of genetic experiment gone bad, crossing Beavis & Butthead with The Terminator.
I don't know who to blame more, his enabling parents, Robert Kiyosaki and other scam artists or the fake Real Estate College. Maybe this confluence of forces has created the perfect unconscionable idiot.
The horror, the horror...
@007.
Don't talk about my Casey like that. When he wakes up, I'm going to show him your post.
Galina
When you buy an existing business, you usually assume all of its existing liabilities... I wonder if mop-head checked for any of those before buying the corporation?
It is actually clever the way he's been gradually diverging the bumbling persona of his blog from the pracical reality of his day to day actions.
I've thought this for several months now. There is such a disconnect between what he has done and what he says and what he wants that I am pretty sure that he is not as inept as he lets on.
He's a dolt, no doubt, and he will end up failing, but there is a side of him that is motivated.
The boycott was the catalyst to allow me to stop posting. But mainly I stopped posting at IAFF because I hate repeating myself, and because the comments do not phase him.
I think that in Caseyland, the hero feels that is so misunderstood and so far above the broad-masses-of the-people and the 9-5 cubicle dwellers that negative comments just reinforce that he's stronger and better and smarter than the rest of the people out there.
He truely belives that he can "fail-forward"
quote:
>>I am pretty sure that he is not as inept as he lets on<<
Homey DA Clown has said that is the case. Homey also hinted at danger! Some of Casey's earlier, deleted blogs were much more lucid. Someone suggested on IAFF, way back when, that Casey was attempting to cultivate "plausible deniability".
"...crossing Beavis & Butthead with The Terminator."
Damn, now i need a new keyboard...snarfed Dew all over this one.
Casey isn't smart enough to have coordinated all fo this for some sort of master plan. He is an idiot and all of this will come back to haunt him for a LONG time. Maybe something like The Grudge meets Other Peoples Money?
backstage,
You really only have to go back to anything he posted prior to IAFF say on the investment boards to see the difference. No "sweet," no Jamba, none of the aspects he's managed to cultivate in the minds of haters. He did manage to close 4 100%+ loans simultaneously in 3 states. We're way beyond what most people give him credit for.
Posting there is a waste. Too long for replies. All the serious subjects unanswered. All the best kids playing here.
Casey's problem isn't what he doesn't know. Casey's problem is that he doesn't even know what he doesn't know.
I recall that LLCs can issue private stock, but I wonder what type of reporting the SEC is going to require.
FWIW, I have a 9-year old LLC that I don't use. Maybe Casey will want to buy that from me.
From Salon.com
http://www.salon.com/tech/htww/2007/02/20/cdo/index.html
********
The mortgage bomb
Why falling home prices may be good news for some homeowners, but doom for Wall Street.
*********
There is only one problem with Gretchen Morgenson's excellent article in Sunday's New York Times exploring whether troubles in the subprime lending industry will spread further into the opaque territory of high finance. No hyperlink is provided for the equally excellent paper by Joseph R. Mason and Joshua Rosner that marshals the most complete set of reasons I've yet seen for why we should be increasingly worried: "How Resilient Are Mortgage Backed Securities to Collateralized Debt Obligation Market Disruptions?"
Morgenson is one of the best business reporters currently working, and when she cites a paper it is usually worth following up on. (Another example was her discussion of energy trade speculation, which alerted me to the enlightening government report "The Role of Market Speculation in Rising Oil and Gas Prices: A Need to Put the Cop Back on the Beat.")
The report examines in detail structural changes in the mortgage lending industry over the past couple of decades, along with the evolution of the ever more complex financial schemes devised by Wall Street to create high-yield investment opportunities for those investors who wish to buy and sell the risk that borrowers may default on their loans. The conclusion is that the subprime woes are likely to cause further problems downstream. The recommendation is for increased "transparency" in how these financial instruments operate and how risk and value are calculated, both at the bottom-rung level of individual loans to home-buyers, and at the top-rung levels that include such exotic fare as "collateralized debt obligations," which pool together groups of mortgage-backed securities and allow investors to pick and choose exactly what slice of risk they want to expose themselves to.
Some excerpts from the executive summary, and a closing section on policy implications:
Structural changes in the residential mortgage lending industry including reductions in down-payment requirements, relaxed underwriting standards, the movement to automated valuation and underwriting systems largely went unnoticed by mortgage-backed securities investors until only recently. This report explains that those changes went unnoticed largely because of the existing complexity and valuation difficulties underlying today's mortgage-backed securities markets...
...High yields in mortgage-backed securities in the past several years led to a massive infusion of collateralized debt obligation "hot money" into the mortgage-backed security sector in an environment similar to that of the thrift crisis of the late 1980s. Like the thrift crisis and its aftermath, therefore, recent events not only threaten these institutions, but also threaten the U.S. consumer and taxpayer as well.
The key economic indicator to watch as 2007 continues? How far and how fast home prices continue to fall. Declining home prices are good for aspiring homeowners who have been kept out of the market by sky-high costs, but they could be very, very bad for investors who are depending on loan repayments from homeowners who can't pay their mortgage obligations and can't get out of them because their homes are now worth less than their loans. And if those investors continue to get hurt, that in turn will tighten credit access for everyone.
Readers who have been following my attempts to understand what the housing bust portends for the U.S. economy know that it is something of an obsession here. The Mason-Rosner report is the best, most up-to-date explanation of what's going on that I've read so far.
UPDATE: I don't usually link to letters signed anonymously, but this one blasts the report referenced above so vociferously that I thought it worth highlighting.
-- Andrew Leonard
By the way, Pizza Pizza, whoever you are, thanks for making my night. I actually kept laughing about your posts when I went to bed and had to explain it to my significant other. For those who missed it..
Pizza Pizza said...
Could the hater who trolled Casey with the $2 billion loan offer please step up to the podium please? You need to claim your Hater of the Year trophy.
Pizza Pizza said...
I certainly do not advocate the death penalty for scammers, like China or Uzbekistan. However, I am all for some form of capital punishment for Casey. Namely, 20 minutes with the angry ladies from this blog kicking him in his lil' flipper factory, of course to be filmed and put up on youtube.
Actually, that could make a great reality TV show. Every day, Casey is given ten simple tasks to accomplish. (Open the mail, take out the trash, cut the grass, change his oil, etc.) For every task he gets done, he gets a Jamba Juice or Macaroni Grill meal or something. For every one he blows off, he gets a kick in the balls from Stephanie J at the end of the show. Maybe there could be different ball kickers on every episode. Creditors, B list celebs, and so on. Think of it as Jackass meets IAFF.
Every single person who has ever read his blog would tune in every week just to see the end of episode wrapup where the ball smashing gets meted out. Great entertainment, plus it puts a stop to the Casey Serin bloodline. A definite win-win for humanity.
Man that is still hilarious 12 hours later!
We'uns shur duz need fer Homey da Clown to drop the dime and gives us da 411 on that Casey Kat.
Noz trubles frum da pyramid scheme of 1996, s'okay. Happens.
Res-Com and another free ride? Musta been luck.
Dallas 2006 and no consequences? Sumptin' fishy and it ain't the empty fishy treats bowl either.
Homez, did guy on the payroll of the Chicomms wit' dip-low-matic im-mune-ity? Huh? Was'up wit dat? You da Man, we be seein' tru.
I LOVE the idea of some talking head Jeff Probst type saying at the end of the show "Casey, you failed to stick to the early riser program, you did not do the hot/cold/hot/cold shower and you were not on anything resembling an organic let alone vegan diet today. That's three nut kicks from 'ol steel toes. Stephanie?"
I stopped believing the "L'il Casey" persona a long time ago. It's an act he's doing...what the true reasons are are up to him to admit, but if you look at his De.lish.ous history, he spent a LOT of time reseaching money making blogs, web writing, all of the elements to pull off a "lonelygirl" kind of site. He WAS pulling it off, too, until the AdSense debacle/payback.
His recent snippy tone and defiant retorts I think reveal more of the true person behind the posed dew-eyed-innocent pictures he loves so well - petulant, spoiled, blown out ego, self-entitled, ad mostly delusional. He's spent a lot of time listening to gurus and personality profilers and woo woo mew age bumper sticker sloganism, and *thinks* he's the person he wants to be...but the mask has huge cracks.
He's lazy, arrogant, and not half as smart as he thinks he is, and he has zero street smarts. He's the kind of criminal who gets caught, because the smart ones are two or more steps ahead of everyone else. Successful crooks work HARD to get their plunder, stupid and/or mediocre crooks like Casey, who have zero attention for details and don't look at all the angles, end up in jail...eventually.
And that won't stop him, he'll try again when he gets out.
It occurs to me that my mental image of Stephanie J only goes ankle-high. All I see in my mind's eye is one of her Docs kicking Casey in the "flipper factory", with a muddy Jeep tire in the background.
The disembodied nutcrackers...
I thought sociopaths were smart, but Casey seems to disprove that theory.
@ Legion
Thank you for the re-post. Missed that one the first time around. Effing hilarious!
I can't wait for the day that Stephanie's get the chance to properly introduce her boot to Casey's nuts. I think I'll keep YouTube open all day just so I can watch it over and over and over again!
It's a perfect storm, but you've got the elements wrong.
1) A criminal clique in China using slave labor to mass produce consumer products, which they lend US consumers the dollars to buy, all the while siphoning off hundreds of millions of these dollars for themselves.
2) A criminal clique in the US keeping interest rates artificially low so the the US consumer can borrow money from the Chinese to buy their industrial production, all the while siphoning off hundreds of millions of dollars of the borrowed money in interest and other fees.
3) A propaganda machine that makes sure neither population is aware of what is going on, and which will, when the going gets really tough, blame the government of the other country.
It occurs to me that my mental image of Stephanie J only goes ankle-high.
You need a better imagination.
If today (today, about an hour from now to be exact) weren't my 20th Wedding Anniversary (all caps trust me) I'd offer a few salient suggestions on that score.
Now now... naughty.
I'm comfortable with the boots image, as long as the toe is tapping impatiently, and the nubbly tire-tread has chunks of Casey imbedded in it.
As for Casey...
I do wish I had a couple of million bucks I could wantonly throw away; because I'd buy Casey, and make him my personal 'Renfield' and make him do all sorts of things for my personal entertainment; like putting him in banana thongs, and making him dance for a bunch of old ladies. Anything remotely humiliating; I'd make him do it. There is an endless potential for hilarity if I had a Casey. It seems a good value for a paltry 2 million buckaroos.
He'd sell himself to anyone for 2.2 mil.
Many congrats to Mr. and Mrs. Dawg for 20 years together. May you have at least 20 more.
@ Rob
Well, there's what I can imagine based on what's been said here on the one hand, and then there's pure fantasy on the other hand. We won't go there.
Congratulations.
Stephanie, you rock. The banana hammock is the bestest idea EVER.
Rob, if enough money finds it's way into the tip jar, can Casey be purchased for Stephanie J's personal amusement?
I'm so excited, I may have to go thong shopping. Maybe something in a nice fur-kini, perhaps...
Issuing stock??? He doesn't have enough federal agencies investigating him already, so he thinks it would be fun to include the SEC as well? (Although actually as far as federal agencies, the SEC is both incompetent and relatively impotent especially toward such an insignificant entity... but still.)
It used to be a joke in a family to try to assemble the entire alphabet in terms of aggregate degrees (Dad has BA, JD, MLA; Mom has BS, MA, PhD; sister has BA, PhD (in process); me BA, BS (in process). Are the Serins trying to do the same thing, but in terms of local, state, and federal law enforcement agencies? AG, DA, FBI, DOJ, SEC, INS (one can only hope), etc.
Hey, everyone needs a hobby. And probably between the two, RK probably finds the Serin clans alphabet assembly to be far more honorable than my family's.
-walt526
Hey Ogg. Tibetan Monk on IAFF sounds kinda like you, just not quite as funny.
Stick to your imaginations fellas, the reality would probably be a let-down.
Just make sure you picture me as a 25-year old hottie (but not bimbo-like), not too girly, but with a nice feminine edge....Not the grumpy woman who's turning 36 tomorrow, who purposefully knocks over store displays for her own amusement (usually when someone's kid is standing around to be blamed for it).
Love, Moi.
@Steph.
That's hot. My grandma is turning 36 Saturday and she's hot.
Rob, if enough money finds it's way into the tip jar, can Casey be purchased for Stephanie J's personal amusement?
Perhaps enough to approach Galina and "rent" him for one night. The rental would be free, I'm afraid of how much she'd demand to allow us to return him.
I'm so excited, I may have to go thong shopping. Maybe something in a nice fur-kini, perhaps...
If Mrs. Dawg buys me another one for her anniversary amusement [again] maybe you can get her to donate one of the older models to the cause.
Steph,
"Tank Girl" in a petifore?
I thought you were trying to lower expectations.
In a what?
A "tank" silly. [petifore is a sort of frilly half-dress as in "half-dressed"] ...
Oh.. I see the internet has decided to respell the item of clothing. "Petitfour" like the stupid cakey bonbon food bit.
http://baal.sslcatacombnetworking.com/~threezer/epic/clothes/petitfour/ebayBlueDressf.jpg
A pinafore.
Alice in Wonderland wears one.
Forgive me for this Stephanie J, but now that you're in a pinafore you're starting to resemble Little Buttercup in my mind. And, as this is a CS thread, perhaps I should switch my mind from "HMS Pinafore" to "The Mikado".
NR
@ Legion
"By the way, Pizza Pizza, whoever you are, thanks for making my night."
No problem Legion, I aim to please. I've been here for a while, I just change my name constantly.
@ Steph J
I was thinking more of a camo Lara Croft kind of thing. Will that work?
@ Rob Dawg
Steph J don't wear no frilly dresses. Steph J is so badass she once beat the hell out of Nigel's forensic accountant and Chuck Norris AT THE SAME TIME.
HMMM...We seem to have a little disagreement about how much of an idiot CS really is.
@GameOver: Casey isn't smart enough to have coordinated all fo this for some sort of master plan.
@Rob Dawg: He did manage to close 4 100%+ loans simultaneously in 3 states. We're way beyond what most people give him credit for.
I think he's more lazy and ignorant than stupid. He wants so much to be the passive-cash-flow guy that he believes the guru pabulum. He tries to apply the guru theories to create his own reality. Problem wiht creating your own reality is that REAL reality always wants to intrude and show you that personal realities are simply fantasies.
Rob Dawg said it best when he said Casey's problem isn't what he doesn't know. Casey's problem is that he doesn't even know what he doesn't know. Unknown unknowns ...The unk-unks will kill you.
@Pizza Pizza
Bah.
Now if she beat the hell out of Nigel's forensic accountant with Chuck Norris, then I'd be impressed.
@ Ogg
Ha ha! That would be impressive indeed.
"Rob Dawg: He did manage to close 4 100%+ loans simultaneously in 3 states. We're way beyond what most people give him credit for."
I think that Rob Dawg is giving our FFF way too much credit here. We've been in one of the loosest monetary periods EVER. M3 has been expanding at a phenomenal rate and banks have literally been giving money away (ie. my reference before to 0.00% balance transfers).
If Casey had pulled this off back in the day when you had to sit down across from a banker and fillet your finances out in front of them plus put a minimum of 20% skin in the game…Then I’d be impressed. For the past 5 years all you have had to do is breath to get a loan.
Stated Income? No problem!
No Doc? Sure!
110% LTV? Of course!
Option ARM? We all want flexibility!
Illegal alien? Welcome to the US, here is a mortgage!
Casey didn’t pull one over on the banks.
The banks set themselves up for failure when they abandoned all reality and subprime mortgages were accepted as the next growth market instead of the riskiest time bomb they are in mortgage land.
Rob- Any thoughts?
PS. Congrats on 20 years.
Happy Anniversary, Rob.
Happy Anniversary, Rob.
Thanks, we are going to the Olive Garden. Wait, all you purists, it is Ash Wednesday, AND we have a gift certificate AND we have a coupon. Yes, it is faux Italiano, yes, a bit hokey but it is quiet/relaxed and when you stick to salads, warm bread and pastas how can you get bad food? The volume helps with freshness as well. We aren't talking veal cutlets at Octavio's sure but given the circumstances the previous bashing by others is a bit harsh. For all our weird cult-like practices we Catholics serve wine at Mass and don't have any non-drinking days. Think about it. We fast, we confess but in the important things we do not abstain. [lighthearted, don't take any of this too seriously]
As an Italian gal (originally from NY) who most often makes her sauce from scratch, I am most disappointed. But since you've got a gift certificate AND a coupon, I'll forgive you.
Have a great time!
YO YO YO ITS HOMEY TIME
Wassup ROB Dawg
Yo check dis here out cuz. None o' Casey'scompanies iz registered or incorporated wiff da State o' California. That'suh crime right dere.
http://kepler.ss.ca.gov/list.html
Nor, iz he licensed wiff da California Department o' Real Estate ta conduct bidness.
http://www2.dre.ca.gov/PublicASP/pplinfo.asp?start=1
Anyone gots uh copy o' da 24% guarantee flyer he made up? He registered Able Buyer an' Finch wiff Galina as fictitious names but never filed wiff da state ta incorporate?
Placer County
http://www.criis.com/placer/sfictitious.shtml
Doc Nbr Date Business Name
2005-0001097- 15-APR-2005 FINCH PROPERTIES
Owner SERIN, CASEY
Owner SERIN, GALINA
Doc Nbr Date Business Name
2006-0000435- 14-FEB-2006 ABLE BUYER
Owner SERIN, CASEY K
Owner SERIN, GALINA
Doc Nbr Date Business Name
2006-0000435- 14-FEB-2006 ABLE BUYER
Owner SERIN, CASEY K
Owner SERIN, GALINA
If ya remember, I called him on dis here last year about da Able Buyer an' Finch scam an' he blew it off. Yo RB Boy, ya need ta gots yo' niggas at da FBI peep into all o' da properties dat Aleksey an' Anna gots owned an' flipped. Where do ya th'o't Casey kat learned it from? Anyone ax Casey kat where he got da money ta gank his first condo?
I see dat ya peeps been looking up Rescom. Good job. RB BOY, gots yo' peeps git on dat. There iz some real bad scamming going on dere an' Casey kat refuses ta answer anythin' about him working dere. Why iz dat?
In case ya peeps don' know, da two California houses iz set fo' acution dis here week an' da New Mexico crib fo' da end o' March. I hope all o' ya gots been calling up da lawyers on deez houses an' giving dem da 411.
This latest scam by Casey kat iz da craziest yet. Using uh dummy shell company ta obtain fraudulent loans from banks. I bet da company he uses iz incorpated in NV or DE, as dey gots da most lax corporate laws. Homey gonna be watchin ya on dis here reel close like. I will find out if ya try ta do dis here scam an' I won't let ya git away wiff it. FO SHO
I know dat Casey kat reads every one o' muh ma fuckin posts, becuase dat iz how he called da New Mexico lawyers. He called dem two days afta I posted da phone number an' case number here.
I be not going ta give him any mo' 411 ta cover his ass wiff. Sorry Casey. I don' werk fo' ya biyatch. But soon ya will be working fo' me wiff muh ma fuckin cousing Leroy making license plates an' wearing lipstick as his ho.
Casey, Chris says ta stop calling dammit!! He don' wants ta jive ta ya nahh mo. GOT IT? And why don' ya come clean about yo' nigga Andy at Countrywide????
Man, ya don' like telling da truth. Iz ya gonna tell da truth at yo' trial? Or iz ya gonna wait until Galina flips on ya? You know she has been jivin' ta her own attorney, right? RIGHT? hehehe.. yeea she has Casey kat. She iz mighty scared o' jail. She been readin yo' blog. Come one an' tell us dat ya know about dis here. It'sotay. We already know da truth. Tell us about her meeting wiff uh divorce lawya. What .....she didn't tell ya? BWAHAHAHA
Love,
Homey
PS. I WILL be there smilin at you during yo trial. COUNT ON IT
Homey DA Clown
Do you mean this Ponzi Scheme?
http://groups.google.com/group/abg.suche/browse_thread/thread/470c4a52726baf6d/6ef3daaffc5ad8ed?hl=en
http://groups.google.com/group/abg.suche/msg/6ef3daaffc5ad8ed
http://www.siliconinvestor.com/readmsg.aspx?msgid=22978991
HOMEY, how can I contact you
@Rob, congrats on 20 years!
@Steph J...is it too much tp envision Doc Martens with Daisy Dukes instead of a pinafore? Especially when washing the muddy jeep?
The banks set themselves up for failure when they abandoned all reality and subprime mortgages were accepted as the next growth market instead of the riskiest time bomb they are in mortgage land.
Rob- Any thoughts?
The "banks" made bucketloads of money on the transactions and literally manufactured even more with the phantom equity spontaneously created by those same deals. They didn't even hold the phantom assets or unsecured debt; instead they sold it all on the secondary markets. All they are stuck with is what is in their hands when the hot potato stops being handed around.
@bemused guy
Oh, dear. I would hope you'd give me the benefit of knowing enough to leave *something* to the imagination. I don't need a cameltoe to feel like a woman. That's far too unclassy a look for me.
The real me: Bootcut jeans with frayed cuffs, cute T with something like this on it for shock value, a tasteful loose-knit cardie over that, curly brown hair down to the middle of my back, emo-glasses,doc martens like these. That's me. Fern green jeep; tan soft top, skullhead, of course hanging from the mirror, and my middle finger pointed at the a-hole in the hummer.
Oh, and the FSM Symbol on my bumper, of course.
Nothing extraordinary, just bratty.
Stephanie,
It wouldn't work. He'd take the $2 Million but then back out on the contract. And then the banana hammock would keep falling off because it's too lOOse! You would need to use a child sized eyepatch.
Just buy the Casey doll and dress him up in baby clothes and then run over it with the jeep a few dozen times.
-Big Cheese
Way to dash my hopes, Cheese
Rob,
Congratulations also!
Steph,
Happy B-Day!!! Funny enough my grandmother just turned 80 today as well! 36 is a good age.
-Big Cheese
Stephanie J. said...
I don't need a cameltoe to feel like a woman.
Actual LOL
Spoken like a true lady. You rule.
And Happy Bday.
Thanks Mister Fromage Grand.
Ok, I should go and do my proofreading for the final draft like a good girl... I HATE DOING THIS! ISN'T THAT WHAT EDITORS ARE FOR? Bleah. I keep finding reasons to putz around online instead of working.
Rob Dawg-
As I understand it, most or nearly all mortgages that are sold on the MBS have foreclosure provisions. If the mortgage fails in the first two years the originator has to take the mortgage back. I think this applies even when there isn't evidence of fraud.
Anon @ 9:55
you took the words right out of my mouth.
The banks will pay a price for this.
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