Hey early rizerz™! Saturday, no 7:00AM post for you. "A foolish consistency is the hobgoblin of little minds, adored by little statesmen and philosophers and divines." - Ralph Waldo Emerson. Instead it is time to collect some lose endz™. • Should we consider paying Yulia to keep us updated should Casey go "under the radar?" Or under cover? Or up the river? Etc?
• Should we start "dead poolz™"? How long before IAFF next goes dark? What is the next chapter? Etc?
• What lose endz™ are still nagging you?
Special mursti-fursties for the significance of the picture and heading. This is such a smart group that it is really tough to sneak something subtle past but I think it'll be a bit before anyone figures it out.
79 comments:
FIRST?
MURST
Those are mayflies, are they not?
i believe those are ichneumon wasps, if my education serves me.
Mayflies indeed. Ephemera Linnaeus.
Thus the transitory nature of the story, the title ephemera and truly outstanding nature of the EN community. Well done.
My bad. The variant Ephemera vulgata is illustrated.
My lose ends
1. Interview with Galina. Find out when she plans to divorce him.
2. Corporate credit. How much does he now have, When is he buying his next aged corporation, did he reallly use it to hit the casinos at Tahoe.
Ephemerus Unum.
Also where is the missing 7 am post. What is Rob Dawg trying to hide?
That did not take long at all.
Now as to the Lose Ends™
Will he be divorced? What's Galina REALLY thinking?
How will the Utah wrap shake out?
Where are his updated financials Showing Where the Money Went™?
The missing 7:00AM post was a technical discussion of cascade falure modes of hedge fund indicies that would occur if some just added up the outstand insurance type hedges and discovered that pricing was in a very narrow local minima at the peak of a golbal maxima. Outside of this narrow range of pricing there results in a cascade failure mode as other derivative products are forcibly unwound to cover with real money. This is when it is discovered that everyone owns each other's paper at values that exceed by several times the underlying assets. Mel Brooks made a Movie about it in reverese; The Producers.
While we are on about tidying loose ends (or maybe in this case "lose ends"), can someone guide me on the likely details of Casey's Loan Note balloon payment due 22 May. Is it likely to be the full amount or some sort of interim payment and if so how much? What action can the lender take against him if (ha ha! if) he fails to come up with the money?
"Terms: IO w/ 6 mo baloon due on May 22, 2007 plus fee (included)"
http://spreadsheets.google.com/pub?key=pPacQAmy3C4AuHrqHYLazIQ
Hey, I just noticed; the url ends in "LazIQ" how appropos.
Rob dawg, I don't see many balloon loans here. The ones I have seen are for cars and have a predetermined amount at the end of the loan period (e.g. 3 years). Their use in RE is pretty rare here and the only one I can recall had payments at specific intervals in the loan term. Is this loan likely to be re-payable in full on May 22 or is some part payment likely to be due?
ratlab do you need gas money for a trip to yulia's i have a strange feeling casey is now sleeping under a bridge
Interest-only mortgages are, effectively, balloon loans, since at the end of their term you either have to pay the house off, sell it, or get another loan.
segfault are you suggesting this is a 6 month IO loan then? Who'd be stupid enough to borrow $22k IO for 6 months? Oh sorry, we are talking about Casey here aren't we?
Um, boys, um, who would be stupit enough to loan Casey anything, interest-only or not, for any maturity period?
Good late Saturday morning everyone. I hope everyone is achieving Serinity ::heh heh::
Saturday night here, yo. I am working, achieving sweet active income.
Arthur @ 10:37:
Sorry, I missed the point of the thread. Thought we were talking about loans in general instead of KC's spreadsheet.
Only "Loosers" work for income. Income should be passive.
segfault I was trying to get an idea on what sort of loan terms Casey is likely to have if what we know is $22k 6 month Balloon payable 22 May. I don't know what the likely terms are on such a loan and I'm only guessing at IO for 6 months then repayable in full.
Only "Loosers" work for income. Income should be passive.
Like getting 15% tithe?
Did anyone check out the awesome affirmation site Casey referred us to in the previous thread?
C Promissory Note 2:
Rate: 15%
Amount: $22,000.00
Monthly I/O Pmt: $250.00
Due: 22nd of each month
Terms: IO w/ 6 mo baloon
due on May 22, 2007
plus fee (included)
It looks okay for somebody who is carrying a 96% Cashcall loan and some 34% credit cards. You just have to check the footnotes. The "plus fee" part. Idiot boy got $20,000 by paying interest @ 15% on $20,000 but he pays back $22,000 in two weeks. Quick, guess the true interest rate. The person who made the loan was no dummy. Well they were stupid to let Casey near money but i was refering to their ability to structure a loan for maximum return.
$250/mo on $20,000 borrowed is 15%.
$2000 after 6 months is 20%.
True rate: 35%.
Can someone explain how anyone can be this sick and twisted and still be able to hit the send button with their shriveled claw?
Yes: semi-competing web site plus juvenile mentality plus no respect for anyone or anything plus alcohol equals offensive posts left anonymously on your web site. I'm sorry you're getting these posts, Rob, but it's probably not Nigel--rather, it seems to have the filthy fingerprints of the well-named Camp Idiot crowd all over it. That's not to say that Nigel is blameless--I was very surprised to find that Nigel and Casey and Heekee are actually "in it" together, but between the three it should be easy to guess where most of the "sick and twisted" comes from.
Thanks for that Rob Dawg. Is the fee usually 10% then? What can the lender do to get the money back if Casey doesn't pay? (I know I keep saying "if" but I can't imagine he has $22k plus of corporate credit spare) Do we know who the lender is and what sort of action they take against defaulters?
Just thought - maybe this is Casey's great new idea. He's just realised how easy it is to write loans for idiots and make 35-96%. So he gets the supporters to sign up to front the capital, get a 24% return and he keeps the 11-72% surplus. Sweet! Win-win. I presume he needs some sort of license to do this but then that's a detail and when has he complied with technicalities like that before?
This was from a couple of days ago, but I felt the need to respond to it.
Successfully prosecuting a fraud case isn’t as cut and dry as many folks believe, even though the alleged perpetrator freely admits wrongdoing. There are many factors to consider, among them actual losses sustained; and, to date, those aren’t cost-effective in terms of litigating for recovery or submitting a claim on criminal grounds (even if Serin DOES make a little money from a book deal).
Good financial decision, TERRIBLE strategic decision. Of course I see the monetary side--you shouldn't throw good money after bad, you don't want to spend more money to recover than what you'll get in recovery, etc.
That may have been how the insurance industry did it in the past, but no longer. At some point, they decided that they were going after fraudsters whether they got their money back or not. At some point they realized that there were people out there who were systematically abusing the system, working it over and over for fraudulent cash. Each individual case was not worth prosecuting, but if they shut down a repeat criminal, they could prevent future losses. So now many of the insurance companies go after each and every case of suspected fraud that they have the resources to pursue, economic or not.
The banks and the mortgage lenders have yet to figure that out. They've factored those losses into their models, they just shrug their shoulders and send loans off to collections for a few pennies on the dollar when they default, even if there's fraud. That's why there are people like Casey out there, working the system over and over for fraudulent cash. Casey is "not worth it" to them because he has no money, and they would get nothing if they go after him. What they don't realize is that they're collectively going to lose more, because he's just going to keep taking money until he's stopped.
Don't think so? Then you don't realize what this corporation thing is all about. He can take that corporation, milk it for all the credit that he can before they close it down--and then go back to the corporation-for-sale people, buy another one, and repeat. Unlike the houses, where at some point the mortgage lenders won't touch him, it's the (established, pre-existing) corporation(s) whose credit they're checking, and he can keep doing it over and over, as long as he can keep buying seasoned corporations.
And he can't be the only one. The banks and the mortgage lenders must be getting millions, if not billions, stolen from them on a regular basis, and will continue to until they wake up and realize that prosecuting fraud on a "will we get more money out of it than it costs to prosecute" basis is a very serious mistake.
Terms: IO w/ 6 mo baloon
due on May 22, 2007
plus fee (included)
[My last comment disappeared. Sniff.]
There is usually no fee when you take out a small loaqn. 10% for 6 months is obscene. Casey's problem is that when you are drowning everything looks like a life preserver.
I failed in my early rizer routine. Up at 12:30 pm, much like fliptard. Long week at work. Now it's off to a BBQ. Woo-hoo!
Slow cooking some ribs and gardening here. Latah
New roses, garden trellis and watching Discovery HD "Planet Earth" on the bigger plasma. 74 deg, cool ocean breeze, Berringer in the fridge, salmon fillet awaiting a rosemary and teriaki next to the grille. No worries mate. Priorities eh?
Howto: Prevent your car radio from being stolen
Uncyclopedia
should read first and murst before I post.
Ephemera vulgata is the may fly which has a very short adult life span. METAPHOR for IAFF
also
The Ephemera Society works for the preservation of things designed to last a short time, METAPHOR FOR EN preserving the IAFF community?
and
Ephemera are things not intended to be retained or preserved, METAPHOR for Casey's Bill Payment discipline or maybe Casey's Cash.
My take since I have only had first once and have never had murst.
FMW,
Maybe not the first answer but the best.
awe shucks Rob, Thank you, ::blush::
Casey - WOW! 78 comments on your last post after 2 days!! Sweet traffic!!
You're loosing 'em...
mayflies make for good bird and fish food. hmmm.
june bugs are pretty stupid. they fly toward the light and bang their noggins on my window. then they die! chasing the shiny stuff. mmm.
Has Casey gone to London ?
Am I the only one that is scared of credit? We could really use some credit right now but it's gotten us into trouble in the past so we dumped it all about 11 years ago. Our house is the first thing we have gone into debt for in a long time and there is no way we would have considered a balloon payment loan.
IAFF site traffic is holding up. Certainly nothing more than 10% off. The deepr analysis however; there's the story. his visitors are there for anywhere from zero to 30 seconds. They pop in, look for meat and move on without a second glance. Perhaps some "other" award winning blogger could run the numbers through their hydrocephalic neck melon and explain more.
I hate to be toxic, but I have got to say.....
ROB- What is up with the lack of a message board? You solicited funds a long time ago and have made promises that have not come true! Nothing has materialized. Dude, you've had plenty of time to blog... Hate to say it, but this is reminding me a little bit of someone else whom we all know. Let's see some action!
I do not like message boards.
I have been thinking about how he came up with the money for 2 past and next 2 months.. as well as thinking about the Utah wrap. There is already one payment missing on the Utah wrap. Could this now be two payments? Casey suddenly got money at the beginning of the month... and the amount of monthly payment on the Utah wrap should be enough for the 4 months of rent plus some extra cash.
Does anyone remember how the cash is moved around on the Utah wrap? (since the mortgages are effectively in Casey's name and the Utah people pay him(or a delegate), who then pays the mortgage. I am wondering about a 'redirected' mortgage payment check here. This is possibly "Casey's" concept of a loan.. just borrowing that mortgage payment.
He might get off scott-free on the overstatement of loans, but redirecting mortgage payments may fry his goose (and a D.A. would then 'pile-up' the charges to get a better negotiating position, using the overstatements on income etc).
It's been said that there is no better way to lie than with graphs and charts.
IAFF's reputation for traffic is always overblown.
7500 hits per day is not earth shattering.
Take into consideration that all of the 0-30s visits are the same 500 or so people who click on IAFF 10-20 times a day to see if anything new is posted does not represent 7500 different visitors. It represents less than 1000.
Had IAFF ever gained decent traffic or anything else worth while, offers would have been presented that he would have jumped at. None came.
Gee, wonder why?
Am I the only one that is scared of credit?
Look, Casey's said it before and he'll say it again: leverage is a beautiful thing.
Until it hits you in the fulcrum.
@At ha38349
Has Casey gone to London ?
Nope - Heekee (Zewg) did.
Does anyone have any info about www.casey.serin.youaremighty.com? At first I thought it was joke, but there appears to be a legitimate sponsor in the UK, Jobsite. As I recall Heekee was flying there...If it isn't satire, Casey seems to have found one of the few financially viable uses for his "fame".
www.nigel.swaby.youaremighty.com
Yuck - at least Casey has the excuse of being young and dumb. Nigel doesn't deserve another site.
BTW, for Google fun I searched casey.serin.youaremighty.com
and received: Did you mean: casey.serin.youareempty.com
The website works as:
www.yournamehere.youaremighty.com
Cute!!
Surprising that Casey and Nigel have not discovered that one on their own.. since they continually wrench their arms about to give themselves atta-boys and pats on the back..
Here is another one..
www.stephanie.j.youaremighty.com
8-)
I do not like message boards.
Ditto. I like the format as it is.
his visitors are there for anywhere from zero to 30 seconds. They pop in, look for meat and move on without a second glance.
I don't read the messages there, even when it's working. I just pop in to see if he's posted something new.
Wow;
Youse mugs are good...I was thinking that it was an anopheles mosquito.
The vector for malaria, birthed in stagnant water,(like the Modesto pool), and upon reaching sexual maturity, then buzzes around biting mammals and spreading fever-sickness to everything it has sucked blood from...like a "real estate investor" that we all know.
But it was a mayfly...
Only good for bringing up tasty trout, and sending geezers in hip waders and flyfishing tackle out to stand for hours and hours in streams.
@Akubi
I noticed you added a 'blogger' page to your name. I looked briefly through it and noted the reference to modern houses that rotate to any orientation. I think you might be interested in something that someone constructed in San Diego..
AACCKK.. blogging software ate my link.
The link was to
which is an 8000 sqft rotating home.
I also think that I found a bug in the blogging software.. My link was replaced by a 'delete' trashcan.
that www.casey.serin.youaremighty.com thing is wayyyyyyyy cool.
you can pop ANYONE'S NAME into the url title and it will do the whole mighty thing with their name. i did my hubby and he was impressed, he thought i made a fan site for him!..lol!
Looks like the blogging software is having some problems.. the link was to be worded as 'this' and hit showed up as that on preview.. When committed, it came up as everything past the 'this' was the link reference.
K, I was completely unaware that one can insert any name here. Too much info and too little time. Not to mention the fact that I'm attempting to follow the Church of Serintology today.
BJ,
That reminds me of a Motorola ad in Life magazine circa 1960-ish. I need to think about wondering the possibility of getting my piles of old magazines out of storage to support my point.
Welp just got done my long day of Bachelor's Graduation... Did the actual Graduation walk for my family... I could have cared less but it would have killed my mom if I didn't walk :p
Business Administration of Information Systems with a minor in Management... Guess both of those are pretty useless in the overall picture seeing they involved useless schooling...
I think I remember something along that line (Motorola ad). The other link I had, was to an actual implementation of a rotating home in San Diego.
The guy is charging $175k consulting fees (which is way excessive). The website originally had more of the design of the house than it does now, but any decent civil, mechanical or structural engineer can figure out how to do it. It is not that complicated.
Here is another rotating house, the structure of which I like better.
I have a question...
When I go over to IAFF and I click to read the 81 comments, I get a "page not found error".
Mad skillz? or just removed for the sake of space?
Schnapps-
Same here. However, Casey's website has been so unreliable for maybe 6 months no, it is almost pointless to speculate over. One might think that because a) his previous job was as a 'web professional' and b) [in his opinion] his earning 'potential' is tied so closely to the blog.
Casey, it's been said before: install one of the LAMP packages for Windows and _TEST_ every change you make, short of just posting new blog entries.
@TripleE
Congrats on your graduation!
Youse mugs are good...I was thinking that it was an anopheles mosquito.
@ Sharky
mosquitoes have a proboscis so they can suck blood and spread horrible diseases.
I'm fine with bugs as long as they happen to be mine and not VISTA's.
Signed,
Vista Sucks and then some...
Come in...sit down...and rotate.
Yes, lost cause, it's all good until your f-ing OS flails forward.
Of course, I forgot to remember that this is the age of "Come in...sit down...and rotate."
Nigel posts at DHC about Casey possibly being bipolar, to which I responded:
A doctor gave Casey some pills
To calm his maniacal thrills
Now Casey's much better
But still, he's a debtor
And promptly skipped out on his bills!
I think it's good enough to cross-post here ;-)
Benoit:
Our Casey's a bit of a sleaze
Spreads poverty like a disease
Many hope that he'll fall
And they summon CashCall
To show up and break both of his knees
millions in debt - #1 on google
The very late moderation of the comments on the most recent IAFF shows a serious problem... if a reader is keeping up-to-date with the comment thread of insta-comments, and a slew of 100 or so moderated ones are released, it is very confusing to 'go back' and read the comments that have been added 'between' the instant comments. Unless I am misunderstanding something; but I would say this is not an effective solution.
@22:17 anonymous ...
I assume that's a "feature" of Wordpress that it orders the comments by time of writing, rather than time of approval. Wordpress may not even store the time of approval anywhere in the database.
Anyway, surely you don't expect Casey's site to work properly, since Casey himself doesn't work properly either.
I am not only an Award Winning Blogger who is friends with a Ninja FBI agent, I can diagnose your mental disorders via the internet.
I guess my point is this is craziness is mostly caused by the brain.
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