Thursday, March 15, 2007

Bear Stearns = BS

These guys out Casey even Casey. Complete utter bullsh!t, lies and smokescreen.

in this article article, BS claims opportunity to invest in distressed mortgage products. [BS] expects to see large bulk sales of troubled mortgages over the next several months, providing an opportunity for the investment bank to make money from the turmoil.

They haven't even peered into the abyss and they are already planning for the bottomfishing. A$$hats.


Stanley said...


I'm treating myself to a new murse!

Tony Soprano said...

Damn, I was slacking surfing

Anonymous said...

New post from snowflake. Now help me understand...I THOUGHT he made $35K with the first job. WHY is he changing the facts all the time.

Also, pretty rich that he cites Kiyosaki's book with regards to college not preparing anybody for entrpreneurialship. Uhhhh, Casey SCHOOL CANNOT TEACH somebody to be an entrepreneur BUT IT DOES teach the skills to augment the ability to make deals.

Sheesh, he tells us he has no experience talking about college (because he never went) yet he knows it won't help? How's that? Funniest thing is he thinks that after all these failures, admitting he has no discipline or ability to focus that he is an entrepreneur?

Uhhhh, Casey...Donald Trump (your hero) went to Wharton and is a successful entrepreneur you goof. So are a number of successful people.



My View on College

I decided to address my views on going to college because I seem to get lots of criticism on this issue and I believe it relates to my foreclosure story.

I chose to skip college right after high school because I was offered a $30,000/yr salaried position at a startup company ( with benefits and stock options (year 2000). I was already working for the company part-time as a computer service technician and I was being promoted to a “Super Sevant”, as they called it, a lead tech / trainer / field manager.

I chose not to go to California Statue University of Sacramento which I have been accepted to. I was 18 at the time and this job at a dot-com startup company was too big of an opportunity to pass up. Plus I crashed my car a few months prior and I didn’t have insurance (forgot to send it the paperwork on time) and I had some bills to pay. So the job was right in time.

Then dot-com when dot-BOMB due to cash flow problems and went the way of other dot-coms during the tech crash around 2001. That was hard for me because I started to get dependent on that job and moved out of my parents house to a nice apartment. So I had bills to pay now.

Instead of going to college I decided to do freelance website design and web development. I have been learning to do web stuff on the side ever since I came to America in 1994. So now I wanted to make a full-time business out of it.

Well the business didn’t take off like I wanted to and I went back to another full-time tech job a few months later. Since then I’ve had jobs on and off while trying to get established in some kind of a business that I could do full time.

I’ve gone through a couple of these cycles now: get a job, then try to do business on the side, business looks like it’s taking off so I quit my day job and do business, business is not as strong as I thought and I’m back to a day job.

What can I say? I’m an entrepreneur at heart and I must keep trying until I succeed. And I’m still trying to build a passive-income generating business, that’s why I got into real estate flipping, which is actually a job too - you must trade time for money. But it’s a highly paid job that would build up some cash for me which I can in turn invest into rental property, apartments, commercial real estate and other passive-income business.

So I never really went back to college, though I did take a 1-unit Linux class at American River College (community college) just for fun back in 2003 or 2004. I wanted to get the college experience and I had friends there. It was a half-semester class. I did pretty good but never cared enough to see what grade I got on the final. I was done with college for now with 1 unit under my belt.

College wasn’t for me because of my circumstances. And in my opinion a traditional college does NOT teach you any wealth building skills or how to be an entrepreneur. It teaches you general education and how to be an employee.

Most people who have read Robert Kiyosaki’s Rich Dad Poor Dad with an open mind would agree with this statement. In the book Robert explains how traditional schools are NOT designed to teach you business ownership and investing skills. No wonder the majority of people are stuck in the rat race.

This is where I get mis-understood…

I DO believe in the value of a well rounded education that college provides. The college experience also teach you critical thinking skills, research skills, team work, time management, etc. I have even thought of going to a 4 year college eventually just for the education, not because I need it for a job.

By default, I recommend everybody to go to college, get educated and get a good job. I will not judge you if you don’t but the college experience will definitely give you an advantage (they tell me, I don’t know from experience).

But don’t stop there.

If you want to be financially free someday you need to start learning how to invest, buy assets and build multiple streams of passive income. Do this on the side while working your job.

Once your passive income exceeds your earned income then you can retire early (if you want) with true financial security. You will not be dependent on your employer or the government to take care of you. That is a good thing!

Rob Dawg said...

anon, tanks for posting but now i need to replace my keyboard. too damn early to start drinking but he is driving me to it.

Backstage said...

Who gives a flying f**k what 'flake has to say about college. He is a moron. He constantly makes the wrong decision, always based on what is expedient. He is the world's best contrary indicator.

If 'flake says college is bad, I sign up for a doctorate. If college is good for CS, I rip up my diplomas.

Now if we could only get him to do stock picks......

P.S. What's with the 'first' thing? That is sooooooo Casey.

Tony Soprano said...

"Plus I crashed my car a few months prior and I didn’t have insurance (forgot to send it the paperwork on time) and I had some bills to pay"


WTF is snowflakes problem with the mail system? Jesus H Fucking Christ! And he wants to pay mailmen to birddog for him??

I think I'll ask him if V-Dubs is insured now? hehehe

Stanley said...

How about getting Snowflake to discuss his "second" career outside real estate. It would be interesting to see what other business appeals to him....think of the possibilities. It might be fun.

NoVa Sideliner said...

Casey says, regarding his HUGE university course load of 1 whole unit in Linux: "I did pretty good but never cared enough to see what grade I got on the final."

Didn't even care to see what he got on the final? Ha ha ha! Spit all over my keyboard! He probably didn't even go to his final exam. Wouldn't surprise me if he'd "forgot" to study, or maybe just forgot when or where the exam even took place. Pathetic.

And how portentious when just out of high school he wrecks his car and has no insurance because he... yes, hard to believe... didn't send in the paperwork to renew his policy!! Bwahahaha! I bet his family and friends had no idea he'd still be performing the same stupid trick over and over for years on end.

The more he explains himself, the more he comes across as a lazy, unfocused, self-centered loser. And an incorrigible one at that, which is the real heart of the problem. The poor stupid boy never learns.

Backstage said...

Q: What would you call a sleasy dirtbag who plays on people's anger, fear and greed to enrich himself and gain prestige?

A: Robert Kiyosaki

R-Boy said...

Summation of my post

Yes Casey, 8 years of college with degrees in mathematics, statistics, and economics...makes me ill-prepared to know how to invest.


On a side note, WaMu engages in gender discrimination on mortgage loan rates. Or at least, one of their guys did. I talked to another fellow who was umm, more honest.

Even if they're 10K cheaper over the life of the loan in interest savings...that kind of crap makes me want to go with a local bank that umm, doesn't lie to me

Anonymous said...

"Federal mail fraud is a huge deal Mr. Serin. You don’t get the big picture. You’ve done more harm to this nation than any terrorist currently enjoying 72 virgins in heaven could dream of inflicting."

This is a FUCKED UP statement on many different levels. The terrorist that have done this country harm should literaly be put in a meat grinder slowly while alive AND BROADCAST AROUND THE FUCKING WORLD ON TV. Dude, this is FUCKED UP, REAL FUCKED UP.

Tony Soprano said...

Near instantanoues moderation at IAFF. Guess he didn't get a job today..

Stanley said...

Snowflake sez he was accepted at "California Statue University".....WTF is Cal Statue U?

Tony Soprano said...

I think that's CSU's program inside Atwater. If on the odd chance he does go to Atwater I have a VERY good friend who is a guard there. That would be a major score, hehehe

BadjerJim said...

My opinion, FWIW:

Any 24 year old who KNOWS that college is not for them is exactly correct. It isn't.


"Argue for your limitations, and sure enough... they are yours."

BadjerJim said...

Or wait...

Maybe what Casey is waiting for is that specialized school, where they offer in-house training on how to make license plates?

HelloKitty said...

oh man that KoolaidSake guy is a real mindeffer. He bashes college because 'it sells' to his seminar junkie crowd.

Anyone who has a degree knows you can tell in the workplace who does/doesnt have a degree. Its a way of speaking/behaving/professionalism that you can observe. I'm not sure they teach it in college or if its self selecting. whatever.

If i went to college again id play with airplanes like RD. Athough in the early 90's that field sucked - with the global War on Terriers its boomin.

FlyingMonkeyWarrior said...

MISH was the guest last night r.e. the international credit bubble and his blog.
Good show. Anyway, he 'outed' KC to about 10 or 15 million people over the National Air Waves.

TK said...

New post on IAFF defending his disdain for college and entreprenurial spirit. He is definitely in the up cycle. He's cranked out more in the past two days than the last three weeks. Too bad he can't channel it into something useful. It explains why he's failed at everything he's ever done. Read the post - he admits he tries startup business, fails, gets jobs, tries startup, quits jobs, business fails, back to work. This pattern never ceases. If Galina doesn't see that he's a modern day Ralph Cramden - Chef of the future! Oh shit that didn't work, back to driving the bus...

cjc said...

FMW, you mean this radio show?

Where the second guest talks about his predictions for a 7+ earthquake in Japan, and the Pope falling ill?

FlyingMonkeyWarrior said...

Yes. The founder, Art Bell just got the Lifetime Achievement Award. I have been a fan since the mid 1990's and they will let any topic go on air. Once he had Willie Nelson, once HARRP protesters, another time A Witch, and even Scientists and Priests. Anyway, Mish is pretty credible. He is quite a Liberal, but a smart guy.
You have to filter the sources and it is good to stay on top of underground news, as I have found they are 6 months ahead of MSM, when they are right on.
Again, do not look at the show or the interviewer (Art Bell and George Nory)they are the entertainment (LOVE them!), look at the guest. Then make up you mind.

FlyingMonkeyWarrior said...

The url is MISH's blog. Sorry bout the typos.

ratlab said...

LEND is up big on rumors than GS is looking to buy them. Stupid, stupid. Now all sub-p, Alt-A stocks are up. Stupid, stupid. I'm looking at NDE (IndyMac) as another short play now. Lots of short interest already in the is stock 20-30%.

StephanieS said...

Off topic- The CashCall loans

Notice how Casey answered the question...He didn't say there were not loans in other family member's name, he said there were no "additional loans" from CashCall...

Of course he took out loans in G's name.

Casey is all about semantics and half truths...

FlyingMonkeyWarrior said...

Your friendly PPT at work. STick it to all the short puts in the shorts.

fastwalker said...

Coast to Coast is a great radio show. Where else can you hear guys who think they are Dragons stuck in human bodies and a guy who injected his brother with an 'alien virus' and felt no remorse over his sibling's subsequent death? That show is pure entertainment.

FlyingMonkeyWarrior said...

That show is pure entertainment.


I agree. But,

does that make Mish a hack, fastwalker?

TK said...

Sounds like Bear Stearns reads slcrealestate...

Who knew Nigel would be such a wellspring of finincial fortitude.

fastwalker said...

Oh, absolutley not. I was just attempting to point out that you don't have to believe everything the guests and callers talk about to be entertained. I wasn't trying to impugn MISH at all. Sorry if you took it that way.

segfault said...

From his latest post:
Once your passive income exceeds your earned income then you can retire early (if you want) with true financial security.

OMFG. Has he ever heard of something called inflation, or the research that's been done on safe withdrawal rates? Or the fact that inflation is an exponentially larger risk the earlier you retire?

Benoit™ said...

Here's another new viciously anti-Serin blog post from yesterday, containing some pictures I'd actually never seen of the Serin Sisters™.

Keep it up, people... loving it! :-)

FlyingMonkeyWarrior said...

No, we are saying the same thing. Filter the guests not the Host. I thought Mish was a good spokes person for the Bubble Bloggers
(I have been one since Oct 05). And someone needed to tell America. I e-mailed the show about six months ago and told them about the Bubble Blogger movement, and that America needed the Truth about the Economy and The Fed Bank etc.
I guess the producers listened. (:

Soothsayer said...

Dear Julius Caseyius,

Forget what today's date is and join us at the Senate to talk about sweet deals.


Brutus, Cassius, and your other buds.

Ogg the Caveman said...

Rob @ 9:49:

If you're going to be driven to drink, you might as well enjoy it. Have you tried the Widmer W'07 yet? You should be able to get it in your neck of the woods.

Casey Fannnnn said...

>>Here's another new viciously anti-Serin blog post from yesterday<<

Good Gourd, it's one of the best ever! It just feeds the hate, and spreads it out towards the whole noxious Serin clan!

Ogg the Caveman said...

Once your passive income exceeds your earned income then you can retire early (if you want) with true financial security. You will not be dependent on your employer or the government to take care of you.

So, by that logic, Casey could retire now early if he had any passive income at all. He has no earned income, so any amount of passive income, even haters throwing dirty pennies at him, would be more than his earned income.

Seriously, WTF went wrong with this guy's intellectual development? Did he never learn critical thinking, or did the Kiyosakis of the world scramble it right out of his addled little head?

I may one day want to have kids. Thank god I come from much better stock than that.

Eth Real said...

Neither a super sevant nor an idiot savant - just an idiot.

I love this claim that "Do this on the side while working your job." Duh! That's what half the successful real estate investors (successful in the real sense of the word) on this and his blog have been saying forever. The other half were hitting their heads agains the wall while drinking themselves into a stupor.

Anonymous said...

Does BS own EMC Mortgage? There is a lot of bad pub about EMC screwing with peoples mortgages. Okay, I'll go read the article now.

Benoit™ said...

I added a "Cash Back at Close" entry to the properties table in the Wiki entry. Could someone be so kind as to fill it in.

You can use the picture of the "Able Buyer™" whiteboard that Casey filled out. Problem is, I don't know where to find it offhand...

Clotpoll said...

Young Grasshopper continues to reveal that he's just a born idiot and loser.

He's right at the IQ cusp between idiot and moron at which a person is able to perceive a few abstract concepts (like "investor" and "passive income"), yet possesses no ability to fully internalize- or act upon- the perception.

Anonymous said...

@11.31 Benoit

OMG That site is hilarious. That girl comes up with some shit.

Casey is nuts not to slowly fade out of the lime light.

Rob dawg, this is a good site but that post about the terrorist thing is still fucked up. It some how lessens the gravity of the terrorists actions.

king friday the 13th said...

but, sadly snowflake has a point about college.

college is a waste of money and time if you major in binge drinking, err socio-whatever-studies BS. For these people, a good trade school would actually be better. (better chance at a decent income after partytime ends, err, graduation).

now, if you go for business, sciences, medicine, or engineering (i.e., learn HOW to make/do SOMETHING someone can use), then college is a good use of resources.

oh, and Mish is actually pretty sharp. don't lump him with the rest of the loonies on art bell.

Rob Dawg said...

anon, you need to look from the terrorist viewpoint. Their goal is to undermine our society. The deaths of innocents is but a means for them. Casey is undermining from within. Casey has done great harm to those aspects of our culture they most despise. My point is to raise Casey's actions to those beyond simple criminality and compare them to others whose actions are also evil.

ratlab said...

Searching for the Casey whiteboard picture on my hard drive, I stumbled across the Hawaii photo. I threw up in my mouth a little.

Rob Dawg said...

The whiteboard is on the blog here someplace. I remember people complaining that I posted it sideways.

Stephanie J. said...

The Ides of March will bring us no satisfaction, Soothsayer.

Anonymous said...


The cashback whiteboard can be found at

Anonymous said...

'The deaths of innocents is but a means for them. Casey is undermining from within. Casey has done great harm to those aspects of our culture they most despise.'

You mean the terrorists hate America's debt industry?

And to think all these years without any debt or credit card, I was with the terrorists.

You really do have a much more, um, complex view of America than I can encompass. Or is that nuanced?

But that's OK - countries like China and Germany still actually know how to make things (they don't even have any financial engineers patenting cutting edge products, that is how backward they are), so I guess they will happily donate whatever the U.S. wants out of the goodness of their hearts.

Aspeth said...

Thanks to Benoit for posting my "vicisouly anti-Serin blog post"...although I would argue that it's not vicious as much as a rapier wit ;-)

Casey Fannnnn and Anonymous at 12:25 PM, thanks for appreciating the fuck-filled vitriol.

You guys are a great counterpoint to the churchy folks who are encouraging me to pray for multi-state felons rather than call a load of shit exactly what it is.

If you need more cursing in your life, check out my response, which I decided to call Welcome to My Award-Winning Blog