Okay, driveway mowed, honey dew list with a few checkmarks; time to overview Casey's game plan suggestions. From what I read everyone pretty much thinks two things :
1 He needs a drone job; Show up, do something, get paid.
2 He needs professional help in every aspect of his life
a. BK Lawyer
b. criminal defense attorney
c. medical checkup
d. psych eval
There was a lot of why or reasoning as well:
1 Maturity
2 Lying/delusion
3 Denial
Personal observations: Casey isn't as stupid as his manufactured IAFF persona. As Madeline would say about Pepito; "He is a 'bad hat.'"
110 comments:
My FIRST FIRST!
Does that mean we are going steady?
Dude, awesome mow job.
I have this aunt; she's a total ditz. She's always pretty; make-up perfect, dressed to the nines, heels always on; speaks in that baby-doll Jennifer Tilly/Melanie Griffith 'daddy-issues' voice; and fusses over her men; always making sure they've eaten enough, if they're comfortable, yadda yadda yadda.
The truth is, she's not a ditz. She's a brilliant manipulator, and she always gets what she wants. Acting like a helpless, child-like character gets many people what they want; and they can make infinite mistakes, and they are pardoned for it because of these affectations that sway people so easily.
Most people, anyway.
Wow... the lastest IAFF post is a doozie.
"Don't be a dick..."
Too late for you Casey.
LOL, Casey is a dick...but so are all his enablers.
So, in all seriousness, where do we stand? Are we just hecklers or, in Casey's twisted worldview, are we somehow enabling him?
Steph-
I never knew women like that existed until I got a nice car. Ugh. Makes me miss my Jeep.
Enabling? We are the best thing he has left and he's begining to suspect it. Don't let the "sweet" public face fool you.
When he started blogging in retrospect it was to roll all his problems into new problems. In Sept the possibilities must have seemed limitless, corporate, partners, monetizing his story... yadda. Since then he's had the cold water of haterz™ thrown in his face.
If by enabling you mean warning of danger then yes but if by enabling letting things go on too long then no.
New suspicion; he'll be gone "a few days." Not 2 not 4, a few? I'm thinkin' he's not goin' ta SLC.
I just find it amazing that 'Flake can even begin to offer advice. He does not even know what he does not know.
Is it just me, or does Blogger go straight to hell on the weekends? I've been trying to post for the last 10 minutes or so. Here's what I get.
Opera: Displays a Blogger error page with code "bX-z980i".
Safari: Reports a network error.
Firefox: Displays a blank page.
I'm trying to post from IE on the Sacrificial Windows Box right now. We'll see how that works.
<rant>
I knew Google didn't exactly have the varsity working on Blogger, but this is absurd. Any time a web application sends dramatically different responses to different browsers, it's a pretty good sign that somebody didn't know what they were doing.
</rant>
Sure enough. Posting works one IE/win. In fact, Blogger returned the response *far* faster than I've ever seen. It did, however, convert my nick to lowercase and append a period.
Fuckwits.
@Rob Dawg
please fix my post under Career Advice, etc. And then fix this one too. Thanks.
I have just posted the following on IAFF.. lets see if it appears:
Hum, Utah, where the condition of that wrap is questionable.. Where the purchasers are having problems with payments late or not occurring.. hum..
Can you say Subpoena? Don't appear, they'll have a warrant..
It is interesting how Homey DA Clown has disappeared!!...
@Ogg -- don't blame me, Google didn't want to hire me. :(
Casey is bad news all the way around. He's a snake in the grass for sure. Perhaps not a Black Mamba, but dangerous nonetheless.
As the days pass, and the avenues of escape he thought existed vanish, the more 'desperado' he'll become. What will he do? One guess is as good as another.
Most likely he'll continue to blog, trying to hold captive his ever dwindling audience with more outlandish crap. But in a month there will be 3 more foreclosures, he'll be further in debt and his income stream will be smaller.
He's a not so slick criminal down to his last few poker chips. His odds diminishing with every hand played.
The Third Sin of Suburbia:
Assume 75% of each acre is covered with housing/concrete/asphalt.
Three quarters of each inch of rain/snow now runs off instead of soaking in.
The groundwater recieves one quarter of the contribution & every down hill property gets three times more excess runoff.
"Mowing the driveway" means The Dawg must have found some method of letting the water in whilst allowing vehicular access.
Care to comment?
Stephanie,
Your aunt is an "Itdont"....
She can do whatever she wants and It Don't Matter!...and we LOVE IT.
Speaking of driveways and yards, I saw several houses in a new development near here that have gravel instead of lawns. What's with that?
Perhaps KC is a secret Philip K. Dick fan and is commemorating the 25th anniversary of his death?
Anon 6:02m
WTF is that supposed to mean?
Where the hell is Homey??????
He is being watched like the rest of us.
The New York Times
March 5, 2007
Mortgage Crisis Spirals, and Casualties Mount
By JULIE CRESWELL and VIKAS BAJAJ
Even in affluent Orange County, Calif., the growing wealth of executives and brokers in the booming mortgage industry was hard to miss.
For Kal Elsayed, a former executive at New Century Financial, a large lender based in Irvine, driving a red convertible Ferrari to work at a company that provided home loans to people with low incomes and weak credit might have appeared ostentatious, he now acknowledges. But, he says, that was nothing compared with the private jets that executives at other companies had.
“You just lost touch with reality after a while because that’s just how people were living,” said Mr. Elsayed, 42, who spent nine years at New Century before leaving to start his own mortgage firm in 2005. “We made so much money you couldn’t believe it. And you didn’t have to do anything. You just had to show up.”
Just as the technology boom of the late 1990s turned twenty-something programmers into dot-com billionaires, and leveraged buyouts a decade earlier turned Wall Street bankers into Masters of the Universe, the explosive growth in subprime lending turned mortgage bankers and brokers into multimillionaires seemingly overnight.
Now an escalating crisis in the market, which seemed to reach a new crescendo late last week, is threatening a wide band of people. Foremost are the poor and minority homeowners who used easy credit to buy houses that are turning out to be too expensive for them now that mortgage rates are going up, but the pain is also being felt widely throughout the business world.
Large companies that bought subprime lenders during the boom, like H&R Block and HSBC, are now scrambling to sell them or scale back their exposure. Many investors are also likely to suffer: Wall Street firms made billions in fees, commissions and trading revenue from packaging and selling subprime mortgages to them as bonds.
New Century has emerged as a poster child for the lenders that rode that boom to the top and are now in free fall. The company disclosed on Friday that federal prosecutors and securities regulators were investigating stock sales and accounting errors. The latter could jeopardize billions of dollars in financing for the company, which issued $39.4 billion in subprime loans in the first nine months of last year.
Weakening home prices and rising default rates have rocked the subprime business. But for those who cashed out before the market turned, the ride up was particularly sweet. The three founders of New Century, for example, together made more than $40.5 million in profits from selling shares in the company from 2004 to 2006, according to an analysis by Thomson Financial. They collected millions of dollars more in dividends, salaries, bonuses and perks.
The company said in a statement yesterday that the founders were “still significant shareholders,” noting that they collectively owned about 7 percent of the company at the end of last year.
New Century’s stock price, which seemed to mirror the trajectory of the subprime business, peaked at nearly $66 a share in December of 2004 and traded in the $40s most of last year; on Friday, it was trading at $11 a share after the market closed. In a series of sales from August to November, two of the company’s founders sold shares for an average price of about $40 a share, for a total profit of $21.4 million.
It is not known whether the stock sales by the founders are among the sales being examined by federal investigators. Some of them had been part of scheduled stock sales that are often used by executives to diversify their portfolios. But some of the sales occurred on the same day that the executives entered the plans. A New Century spokeswoman, Laura Oberhelman, said that executives declined further comment.
The founders’ stock also rose in the social circles of southern California, the epicenter of the boom in subprime. Five of the 10 biggest providers of subprime mortgages last year had their headquarters in the region.
Robert K. Cole, 60, a co-founder who retired as chairman and chief executive last year, lives in a 6,100-square-foot oceanfront home in Laguna Beach that is valued at tens of millions of dollars and was once owned by the chief executive of Pimco Advisors, the giant bond trading and management firm. Edward F. Gotschall, 52, another co-founder who is vice chairman of the board, donated $3 million for an expanded trauma center at Mission Hospital that will be named for him and his wife Susan.
The executives from New Century are by no means alone in cashing in on the bonanza, and they do not appear to have scored the biggest profits. That title may be claimed by Angelo R. Mozilo, the chief executive of Countrywide Financial, the nation’s largest stand-alone mortgage company and one of the largest subprime lenders last year. He reaped more than $270 million in profits from sales of stock and the exercise of stock options from 2004 to the start of this year, according to the Thompson analysis.
Of course, most of the 500,000 people who work in the mortgage industry did not cash in so grandly. The wealth was concentrated among executives, loan officers and brokers, because the greatest rewards were meted out in the form of commissions, bonuses and stock awards.
“In the hot times, it was not unusual to see a broker make a million bucks,” said Guy Cecala, publisher of Inside Mortgage Finance, a trade publication. “You can carry that up further to people who ran the companies. The whole business revolves around personal compensation.”
The hot times are clearly over.
New Century’s disclosure of the federal investigations on Friday was the most serious in a string of shocks to have rocked the industry in the last three months.
A handful of lenders have sought bankruptcy protection, several have been acquired and a few have been shut down. Also on Friday, Fremont General, a top-five lender, said it planned to leave the business.
Industry officials say they are seeing an exodus of executives and salespeople as companies fold, cut jobs and push out early leaders.
“Everyone has run for the hills,” said William D. Dallas, whose company, Ownit Mortgage, filed for bankruptcy protection in December after it lost financing from Merrill Lynch and other banks.
For the borrowers of these mortgages, it may become more difficult to refinance if lending standards are tightened significantly. Many are already facing the prospect of payment shock when low, fixed-interest mortgage rates adjust to higher, variable rates.
On Wall Street, big investment banks could lose a significant source of revenue if the appetite for bonds backed by mortgages dries up.
In the last two years many skeptics began warning that the red-hot housing market and adjustable-rate loans would blend into a toxic brew. Last year, subprime loans totaled $600 billion, or about 20 percent of all mortgages, up from $120 billion and 5 percent in 2001, according to Inside Mortgage Finance. More than half of subprime loans have adjustable rates.
Many of the problems that have surfaced thus far are not tied to the resetting of rates. Rather, they stem from a sharp and early spike in the default rates among loans issued last year.
For example, about 13.8 percent of the loans in a group of mortgages New Century sold to investors in April were behind in payments or in foreclosure by January. By comparison, only 6 percent of loans in a pool sold to investors in March 2005 had met that same fate by January 2006.
Investors and regulators fear that the problems will only worsen as so many borrowers have fallen behind so quickly, especially at a time when the overall economy is healthy. The phenomenon suggests that lending standards were significantly weakened last year and that lenders were not as watchful for fraudulent transactions.
For New Century, the early payment defaults pose significant financial problems. In the first nine months of last year, Wall Street banks and investors that it does business with forced it to buy back $469 million in loans it had sold to them, up from $240 million for the same period in 2005.
The company was able to sell back about half of those loans at a discount of 26.5 percent. How it handled the remainder — about $227 million — is now under scrutiny. According to accounting rules the company should have valued the loans on its books for what they were worth today, not their previous face value. But it did not.
If it had, the company would have seen its earnings fall by about $60 million before taxes, wiping out most of its profit in the third quarter, according to Zach Gast, an analyst at the Center for Financial Research and Analysis, a forensic accounting firm.
This is important, because the company’s financing agreements require that it not lose money for any rolling six-month period. On Friday, New Century said it did not expect to make a profit in the six months that ended in December and that it was negotiating with lenders to waive the requirement but has only secured six of 11 waivers it needs.
“They had losses sitting on their balance sheets,” Mr. Gast said.
In August, the company’s chief financial officer, Patti M. Dodge, announced she was stepping down from her post to oversee investor relations, a department that typically reports to the chief financial officer. Taj S. Bindra, a former executive at Washington Mutual, replaced her in November.
For the second time in a decade, New Century finds itself fighting to survive. The firm’s roots were planted at Plaza Home Mortgage Bank where the three founders of New Century — Mr. Cole, a longtime mortgage executive; Mr. Gotschall; and a lawyer named Bradley A. Morrice — worked together. The three formed New Century in 1995 after Plaza was sold to Fleet Mortgage Group, now a part of Washington Mutual.
In the late 1990s, New Century narrowly survived accounting concerns and a scare in the bond market after Russia’ s default in 1998. It pulled through thanks to an investment by U.S. Bancorp, a bank based in Minneapolis.
With interest rates at historic lows, it quickly grabbed a big share of the fast-growing subprime market during the housing boom.
“They walked into a niche industry at a time when everything was lining up perfectly for what they did,” said W. Scott Simon, a managing director at Pimco Advisors. “In 2001, 2002 and 2003 the subprime business was just phenomenally profitable. Home prices kept appreciating and it seemed that no loans ever went bad.”
Sorry, I was distracted with my egg drop soup dish and didn't read the full thread.
I suspect he's not terribly concerned about fossil fuel.
Can someone please explain why sin (whatever that is) is a result of suburbs, exurbs, etc. I don’t know much about that sort of thing, but I suspect it’s there wherever you happen to live.
Granted, there are lots of brilliant thinkers here so perhaps I’m missing a basic food group.
how do you people live with yourself, casey is a great husband, please leave us alone, hes making sweet deals!
Hey G Spot,
Hope you're makin some sweet deals too.
Casey has lots of new photos from Utah on Flikr.
Photos of Nigel, photos of Macaroni Grill, a photo of his plane, sweet!
Gee, ya think he deliberately chose that blue shirt and man purse because he knows we're looking at the pics? I can't believe Casey only has one nice dress shirt.
I can believe Casey would have only one dress shirt. When my husband went to job interviews, he had ONE outfit and it was all he ever wore.
Casey needs a haircut, and in those pictures, he seriously looks like he's wearing makeup. His skin is just a little *too* perfect, especially when compared to earlier shots. Looks like a romantic evening. And even better, Galina is supportive.
@ Lou and everyone else -
You've got to check out Snowflake's Utah photos.... He's living large, hanging with Nigel, eating at the Macaroni Grill, looking at houses, stopping by the "wrapped" property....
The guy is Living Large....
Except he's wearing his usual uniform - blue shirt and man purse. It seems none of the "cash back" or credit card $$ went towards Snowflakes wardrobe.
I wonder who is taking all these photos of Casey and Nigel??? Mr. Money Partner perhaps???
I don't see any photos of apartment complexes.
Casey is indeed the last bagholder. This Flickr crap is clearl evidence that he is interested in nothing but annoying his haterz. Come on, what does it take to decide to take a picture in front of Macaroni Grill? He had to go out of his way for that. Then the mysterious "new construction" with no text. Puleeze. All troll all the time. He's got nothing left.
blaaaaaaaaaaaaaick
I have a hair ball I can't get out.
Check out Nigel's blog.... he writes of Casey's big visit with the "partner."
Nigel talks more about Casey's "money partner" and his discussion with the partner....
It is a LOVE FEST.
Here's the link
http://slcrealestate.blogspot.com/
Check it out and then cough up a hair ball.
Love
Skitty Cat --
The new photos so add to the he's winding us up conclusion.
The blue shirt, Macaroni Grill, and Nigel? Shit, he should have brought the blue ball, too!
In the photo of Casey and Nigel™, Casey looks the girliest I've ever seen him. Seriously, you could Photoshop his hair a little longer and put some extra blush on his face and he'd be female.
He'll be the freshest meat that the CA penal system had seen in years...
"Contacts" my hairy ass.
Unless this investor is looking for corrective lenses, the whole "contact" angle is another scam. This guy brings nothing to the table but a purse. No one in his right mind would align himself with Casey and his pending indictments.
New G (G-Money)is more than likely either a fraud or is totally oblivious. Nigel, on the other hand, appears to be both.
Nigel has stated that the third person here is interested in Casey's traffic. What he calls "contacts" that CS has obtained through the blog.
Supposedly CS is looking at large media exposure over the next few months.
If IAFF is generating 5000 hits a day (which is pathetic) and generates 99 "haters" for every 1 supporter, what will 20,000 hits do for CS?
Both myself, and my life partner Casey, are gay. Man, it feels great to get that off my chest!
Now, if you'll excuse me, Casey and I are going to have a snuggle-fest...
The jet is not a private one. It's a "Delta Connection" airliner.
Clever camera angle. I'm sure that the deception was unintentional.
It must piss SnowAnus off that his haterz get the pics off flikr on en before he can update his blog!
10:1 GalinAnus scored a ride to Utah as well. Her photography is always better than SnowHoles.
I can't wait until he tries to update his wikipedia entry with a sockpuppet and gets blocked for life!
PMSPMS
http://flickr.com/photos/sercasey/410752448/
We're here, we're queer. Get used to it.
Let's see
Nigel is balding, slightly overweight, and most definitely gay. Just as I suspected all along....
Unfortunately for the NEW G, he doesn't seem to realize that Casey's 15 minutes of fame are almost up and he has missed the boat. I mean, after the rest of his houses are foreclosed on, what's he gonna blog about? How to avoid foreclosure? He didn't. How to save your credit rating? He didn't. How to make a fianacial comeback? He won't, unless someone is fronting money for him like this moron G. So this guy has 9 investment properties? Big shit, Casey had 8, and we all know that meant jack and shit, and Jack left town.
and itz all fine.
As long as procreation isn't involved, itz all good.
Doods and doodettes,
How could Casey suddenly grow some meat on his bones?
Casey does not exist anywhere other than the web 2.0.
KC is definitely an endless source of material, but I think of Nigel as the alien guy in a film I was only semi-paying-attention to.
Currently consternating the month of March.
Rob Dawg,
Please explain your apparent dislike of gay people.
Casey and Nigel are, and they are scum.
Oh my god, Nigel is even talking like Casey:
"We met at Macaroni Grill in Murray. I've never been there before, but it was a good experience. I had the balsamic chicken on angel hair. Tasty! Joining us at lunch was his business partner G, not to be confused with his wife G."
Who the fuck cares what you ordered?!
I think it would be really interesting to get everyone commenting here together.
Personally, I think Rob Dawg is a homophobe.
I think it would be really interesting to get everyone commenting here together.
Yes, do it! The photo would include a "furry" dressed as a cat, some fat dyke named Steph, a loser computer programmer from Washington whose shitbox apartment resembles a cave and a homophobe redneck from Montana who lives in a single-wide with his elderly mother. The topic of discussion would be the blog about someone else's blog. Hilarious and entertaining! Do it!!!!!!
At 9:45 PM, IdleInMarch said...
Rob Dawg,
Please explain your apparent dislike of gay people.
At 10:04 PM, Pancreas said...
Personally, I think Rob Dawg is a homophobe.
At 10:14 PM, Anonymous said...
... a "furry"
...dyke
...a loser...homophobe redneck
Yawn, so olde skool web trolling. Look to the master. Tease us with trips and juice.
Oh and let's not forget the other guest to the photo shoot...the 12 year old who knows how to use google - Homey the Clown. He's been missing for a while since he got grounded for spending too much time on the computer. But that "week without the Internet" is soon up! We can soon look forward to another revealing post about how Casey was born in Uzbekistan. Who would have thought it without Homey's brilliant sleuthing?
@Anonymous 10:14
Wowee wow wow, you got us all pegged down to the wire! It's almost like Casey and his gang have the 411 on all of us like we got Homey!
Hey Nigel, seeing as how anonymous is always posting and there is always Salt Lake City Utah hanging out..well never mind..you are l33T!
By the way Nigel, since you have graced us with a photo of yourself..you should be easy to find..will you see me coming though?
Legion,
You do have the problem of scraping up that $39 Greyhound fare from Ronan to SLC. That should keep you at bay for a few weeks since slopping pigs all day doesn't pay very well.
Nigel got into the liquor cabinet again.
I suggest that in his twice diminished (genetic and chemical) condition we not make his situation any more pathetic.
Sounds to me like Turnip Head found himself a greater fool, most likely someone who lucked out in the recent boom and decided they know it all when it comes to real estate. How anyone can make money right now is beyond me, unless the Big Con is on.
Just more proof the blog was not ever about doing the right thing, but trying to get a way to avoid paying his debts. He's got major media coming up? They'll hear from me - if he even HINTS at who it might be, a campaign to expose the Turnip Head's fraud WILL happen.
I'm not too worried tho. Turnip Head will fuck this up, just like he fucks everything else up, and help this Greater Fool blow through his money in no time at all.
I think some undercover investigation needs to happen, and some people pose as the "contacts" he's good for - but behind closed doors, where Turnip Head and Nigel can't read about it.
Or maybe that's already happening.
It would interesting to contact the Utah owners Casey is fucking and let them know he was there, and made no effort to sit down and figure out the missing payment.
I'm betting that missing payment will be his undoing. He stole it. We know he did. He knows he did.
I think it may be time for another orund of complaints to Sacramento to, why this punk is walking around free and getting "major media exposure" as an admitted fraud. Who's head do we need to walk over to get them moving?
What is a blog about a blog, Nigel? You kept saying that that Dolph poster as well as always throwing it at Rob YET here you are commenting on a blog about a blog.
Yes, I see you think you are cool by pretending to be a hater of haters on a hater board. LOL on you though as you look even dumber by the post.
Jealous? What is your blog then? A blog that regurgitates information? After all, what the f--- is a blog anyway? It's a place where ideas are thrown out there and others talk.
Some blogs regurgitate TV show plotlines, some even harp on gloom and doom. Some post ad nauseum about Bush being a fascist and some blather on about that evil woman Hilary Clinton. So what is it? Why is it you can't seem to get it through your head that blogs exist to COMMENT on things? This one exists to discuss the housing bubble, economics and Casey. In order to DO this the author, Rob, must use case examples to start the commentary. Casey does it regularly. Why is it so hard to accept that bloggers are allowed to discuss the ideas of others? Are you a fascist who would like to see an end to free speech and discourse?
Idiot.
Sure looks as if Nigel is more complicit in Casey's dirty deals than he likes to admit. Dining with Casey? Only interested in the story of his life? Only wanting to help? Puleeeeeeeze.
I will be contacting the Utah state Attorney General about you Nigel. Enjoy freedom while it lasts.
My you're defensive about your little blog about a blog. Aren't you?
IPFH...
Bring it.
Will do. I do have a good idea of how the law works. You obviously do not. Thanks for outing yourself. There is no way in hell Casey has deals in place. But if he does, it won't last. He seems to burn all his partners and can't focus on the true bottom line.
Ring, ring.
Utah Attorney General's Office
IPFH: May I speak to the Attorney General?
AG Secretary: What is the nature of your call?
IPFH: I want to report a crime.
AG Secretary: What is it?
IPFH: One of your state's mortgage brokers is having lunch with a criminal.
AG Secretary: Is the criminal an escapee?
IPFH: Uhh, no.
AG Secretary: Is the criminal on parole?
IPFH: Uhh, no.
AG Secretary: Well if he isn't an escapee or an parole, then what's the crime?
IPFH: I don't like them!
AG Secretary: Now Mr. Legion, there's nothing illegal about that. Stop wasting Mr. Shurtleff's and my time.
IPFH: Uhh. Ok. How did you know I was Mr. Legion?
AG Secretary: Mr. Legion, we know lots of things about you. And by the way Mr. Legion. You should know that thing you like to do with the sheep is against the law, here and in Montana.
IPFH: How did you know about that???
AG Secretary: Educated guess Mr. Legion. Educated guess. Good day and please don't call again unless you have a real crime to report and evidence to support it.
Click...mmmmmmmmmmmmmm
Not very bright or funny. Guess what? It involves wrap arounds and a certain "broker" who knows all about it. Lunch only proves some connection. Nice try.
Lunch only proves some connection.
This just in from anonymous internet blog commenter. Lunch proves crime. Lunch proves crime!
Breakfast and dinner are still innocuous, but lunch proves crime.
Be vewwy, vewwy careful. The police are hunting people who eat lunch.
@Stephanie 3:18
OMG. If the woman doesn't pump her own gas, your aunt is my mom.
We're related!
Casey was mentioned in another USA Today article that just came out about the collapse of the subprime lending market.
The article casually mentions his entire debacle as if it were commonplace to be foreclosed on 5 houses. It's absurd that he hasn't been arrested yet.
"I have tried....I have tried so terribly hard." - Jim Jones.
Ladies and gentletrolls, if Chimp-O in fact has found yet another "partner" for "sweet deals", I suggest opening a legal dictionary and looking up the following terms: "partnership", "agency" and "joint and several liability".
Combined with Casey's track record, I believe that this will explain why anyone would be insane to enter a partnership with Chimp-O.
Nigel, this includes you. (Notice how he has backed off the public criticism now that he can bask in Casey's reflected publicity.)
About Casey's appearance: As mentioned above, he definitely looks much "bigger." Especially in the pic outside of the Macaroni. Almost like a slightly different person, or a double, or a brother, but yet, it's him. Very odd, indeed!
Suddenly he's really rockin' again -- maybe this has reinvigorated him and lifted his spirits and his demenor in general.
perhaps Casey is Nigels straw buyer for all those properties
Nigel appears to have passed out finally. I'm wondering if they can get a group psych eval discount.
Can anyone imagine watching this circusthrough the IAFF filters? Eaiting hours, getting moderated? Good catch Benoit. Good job everybody, very few places can survive this free and open.
Casey was described as "a website designer" by USA Today.
He must be annoyed; he's not a web geek, he's a real estate entrepreneur! :p
Time for another WHACKING in the market. Pefect time to make SWEET DEALS.
Casey looks like he's being taken with the ROYAL treatment.
Why does he insist on eating shitty food? I mean REALLLLLLY.
Looks like the market is getting ready to get hosed at the open. Fun day at CFC today boy!
That photo of snowflake and Nigel at MG is hillarious. Thank god we don't have any photos of them back at Nigels after a few shots of Baileys.
Anyone want to guess what G was up to while young snowflake was off jet setting. I'd guess she was putting the heavy moves on either one of her professors or one of the hot young studs in her class that shows some promise. Casey, your a dumbass thinking G is sitting at home knitting or something. I'd be willing to put some money down that you come home to find the Blue Ball deflated out on the front lawn and VDubs gone.
Paging Homey. Paging Homey Da Clown..Come in Homey..
Go Heavy!
I agree that while he was having pictures taken in Macaroni Grill and checking out non-sweet deals (wholesale=sweet cashback.) Galina was sanding the rough edges off her exit strategy. Oh and I wouldn't be surprised if she gave a little something to any dope with a Rolex and nice car she met at the club ladies night out.
CFC? Check out NEW bid around 6!
Of course CFC has some Caseymoney™ so they deserve it. Locally CFC employs 8100 people and probably echo employs at least that many. If both wage earners "loose" jobs they will "loose" their house. Even those with equity don't have the liquidity to arrange asale before the big squeeze.
New Century should get whacked this week with legislation passed on Fri(?). Well, all major subprime lenders for that matter.
USA Today article is hilarious! I'll bet he thought he was going to get another good does of ink and they glossed him over. But the world doth know the name of "Casey Serin, web designer" who got caught on the wrong end of a fad (and the law). LOL!!!!
AHAHAHHHAHHAHAHA! Oh stop, I'm still laughing! Ahahaha! As he's in SLC looking at houses he can never afford HAHAAHAHAHA!!!!
Holy shit! NEW is going down faster than G did on Saturday night! $6?? WOW..Penny stock by the end of the day. It will trade on the pink sheets tomorrow, lol.......
So, yeah, sadly, my attempt at moderating has failed. Supposedly casey has solved his moderating problems for the time being.
Back to the phone calls again.
Also, could a few of you guys also call up the Sacremento FBI Office today and report Casey's blog to them, and link them to the "I lied on my loans part?"
Phone: (916) 481-9110
Agents Parenti or Johnson is who you should talk to.
Relevant Casey Link is
http://iamfacingforeclosure.com/42/yes-i-lied-on-my-loans/ The revelant text from that link is: I overstated my income, and misrepresented my owner-occupied status and concealed the cash-back-at-close from the bank. I knew it all along. Nobody made me do it. It was my fault. I take full responsibility.
I recall some folks talking about shorting CFC a month or so ago. If you did you are making mad cash. its down 20% + and heading further south now.
Check out the 3mo perf of ^HGX, the Philly housing index. Howintheheck could it hold these gains?
Bubble, Bubble, Toil, and Trouble
Uh-oh. The housing bust is just beginning.
By Daniel Gross
http://www.slate.com/id/2160973?nav=tap3
Yeah, I have been shorting CFC since mid-Jan and shorted New Century a while back.
Paid for my honeymoon.
From the USA Today article: "Under Freddie's new rules: If a subprime borrower wanted to buy the U.S. median-price home at $210,600 with a two-year ARM, the buyer would have to qualify not only at the starting monthly payment of $1,619, at 8.5%, but also at the maximum payment of $2,412 a month, at 13.5%."
i.e. - if you can't afford a house, you can't buy one. Shocking! Seriously, though, this is another nail in the coffin of the lower end of the market for at least anotehr 5 years. Sky is falling! I'm still betting on a 10%+ fall in prices - and the falls that are quoted don't account for the 3% closing costs that sellers are routinely paying these days. I have a nubmer of "investor" clients with marginally more intelligence than Casey (and a ton better credit) - marginally more because most have listened to me when I have told them to sit on their cash for a few years more - ndon't buy now.
Hmmm.... Macaroni Grill. Sounds liek a superb restaurant. I wonder what Michelin rating it has? Is it true they ahve hired Roberto Donna as their executive chef in the Utal location????
eth real,
The sad part is that the -only- people buying now are those same unqualifieds and those moving to sell to the unqualified. Wait til the mortgage guidance reflects in home sales this spring. The NAR is gonna scream. If the guidance sticks (I think even tighter) then it may indeed be 5 years. We front loaded a lot of the younger people entering into the market already.
Nigel looks like a child molester.
I was one of the ones talking about shorting CFC, NEW after the first NEW drop. Never got around to moving money into the trading accounts to do so.
That's ok, there's still money to be made shorting the National Home Builders (TOL, CTX, Lennar, DR Horton).
Rob Dawg - of the buyers I am working with, most are selling a condo and buying house for owner occupancy. But the dip in condo prices in DC which had a huge condo boom is larger than the dip in SFH so far, so they are generally hurting a bit. Main reasons I am doing deals at the moment: 3 condo sellers+house buyers due to pregnancy/new baby, one condo buyer who's tired of paying rent, one house seller+condo buyer due to relationship break up, one house seller who is an investor who hasn't yet come to terms with the fact she's up for a large loss (initially marketed house at $789, I have it listed at $699, I think we are at least $25 over mkt and have told her so - really shouldn't have taken the listing). Oh, and then there was me - sold my last multiunit that I managed and rolled the 1031 funds into two projects through sciproperties.com.
Steph,
-We- mess with Casey's brain. Doesn't that make us child molesters?
eth real,
Here in the left coast I straight sold and am taking the hit in taxes because all the 1031s were insane. I sold a POS SFR for 273x gross. With no mortgage and taxes & insurance less than 15% of gross it was tough but even the realtor I sold it to for their 1031 said I got the better part of the deal having closed last April.
ratlab,
calculatedrisk is running your discussion as we speak.
I would have taken a $200k+ hit in cap gains taxes without a 1031, so even though I am only getting a 6.5% cap rate on the projects I bought into, I am still better off. God am I glad to have no tenants to worry about anymore.
I looked at the Nigel and KC trip photos and all I can think of is look at all that snow. Doesn't KC own a winter coat??????
Rob, thanks for pointing towards calculatedrisk. I've never been to that blog before. Good stuff.
Rob;
Sometimes I wonder about you. :)
If only Casey had the excuse of being a child. He may act and look like one, but he certainly *is not* one. He's old enough to defend himself against us. He deserves what he gets, and I don't think we should be kinder or gentler to him for any reason. With every juice related; buzzword heavy post he makes, he asks for it.
Besides; our form of molestation doesn't involve sodomy. At least I sure as hell hope not. Messing with his mind (however easy it is) is not statutory rape.
Nigel is very, very creepy looking. Like he leaves a slug-trail wherever he goes. Look at him. Bleeaaaah. :::shudder::
Stephanie J. said...
Rob;
Sometimes I wonder about you. :)
This is good because if you knew the truth... What was it that Jeremy Rains said? "You have no idea."
Messing with his mind (however easy it is) is not statutory rape.
Agreed. Ours is more a form of spanking to get a child to behave.
Nigel is very, very creepy looking. Like he leaves a slug-trail wherever he goes. Look at him. Bleeaaaah. :::shudder::
A freakin' Chrysler 300? What the freak is it with these 20 sumptins' and their affectations? At least I hope they are affectations. I know my Civic 4dr and two SUVs are middle class boring. Even my motorcycle is 24 years old. Still this idea of being measured as a person by one's possesions or outward appearance is foriegn and as you say creepy. Are Nigel and Casey getting some wierd joy out of the results of their antics? Perhaps the monkeys in the cage think it is they that are looking in.
In my best P.J. O'Rouke:
"Youth, hubris and access to credit equal disaster."
@Rob
Oh, did you get my 'casey book?
No economist I, but of the few dismal tomes I've read from that discipline, "Eat the Rich" by O'Rourke was probably the best.
NR
Steph,
...book...
Yes, maam and lessin' I want's a steel toe applied so firmly that I can floss with yellow thread it will feature prominently in an upcoming casey haterz post.
O'Rourke was at the Harvard Lampoon in the bygone days when I was burning through the Boston area's universities various welcomes. Whether it is a Cusper bond or what I've always admired his accumen.
Now now, Rob.
I reserve my violent tendencies for Casey.
Respek, Dawg.
Swear to God, this is the text of the Google AdSense ad on Nigel's site right now on the Casey entry:
"Gay-Friendly Autos
Does your car reflect your Pride?
Is your car out of the closet?"
Eth Real, really would love to talk to you as a fellow NoVa denizen.
caseyserininfo@yahoo.com. You could meet me n Aaron sometime for quite the interesting happy hour no?
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