Are we headed for another shut-down?
5 years ago
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- 5 years agolast modified: 5 years ago
- 5 years ago
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Another mortgage lending shutting down...
Comments (28)To share where I'm coming from, I work in risk management for a global investment banking firm and I specialize in fixed income products, of which mortgage backed securities are a huge chunk. I've been in risk management for 5 years and I have worked with virtually all the fixed income investments for another 25 before that. I'm working first-hand with this stuff every day. I agree with what the Secretary of the Treasury Paulson said today... Despite warning investors that there was no easy fix for markets, the Treasury Secretary also urged calm. "Credit is being repriced, reassessed across our capital markets," he said. "This will play out over time, and liquidity will return to normal when the market has a better understanding of the risk-return trade-off. "Markets straighten themselves out over time. This is going to take a while to play out." Mr Paulson argued that action by the Fed, which last week cut the rate it charges US banks for short-term lending, "makes it easier for the markets to focus on risk". We had the S&L crisis in the 1980's, we had a large US bank fail in the 80's, we had Long Term Capital Mgmt in the 90's, now we have this. It's cyclical, it straightens out and then at some point, the next debacle happens. Yes, I'm cold about it - that's what my experience tells me will happen when greed kicks in again. And humans being humans, greed WILL kick in. I made an observation in my original post and I stand by it. To me, an observation is not anything other than just that. I see that others of you equate observations to judgments. That's not what I said or intended. And for a positive, those of you who own Lowe's stock - hang on to it for awhile. Keep fixing up your houses and the stockholders will thank you for it....See MoreWe Had To Shut Our Job Down Today :(
Comments (9)Thank you so much (again) everyone. I'm much calmer than I was a couple of days back. I spoke with my ex-boss, the architect. My BF went to the house, remeasured the downstairs and there will be plans drawn up so I can bring a professional blueprint with me to bring to the DOB. May as well, as there are a few other things being done in the house besides the kitchen which I don't feel comfortable drawing up. Then, my understanding of it is - I'll be given the applications for everyone (and I'll do my own for the drywall). Will have to coordinate the subs again to have them fill out their paperwork, and go back to the Building Department to drop it all off. And then, hopefully wait only about a week and voila! Approval. BTW - as it turns out it does not necessary take 3-4 weeks. That, was a scare tactic from the secretary. The official said they typically get it done in about 5 days once they receive everything but usually say longer "just in case" and this way, they look like a hero if it goes through quickly. Much better! So, if I'm lucky maybe the whole set-back will only be 2 weeks. Not so bad. And I got the feeling that I do not have to worry about anyone poking around to see inside in the meantime - or even before we begin again. I am still a bit concerned about that beam, however, as a friend said what I can do is just look the inspector in the eye and say "Hey - do you think I'm that stupid to leave that exposed if we HAD placed that there? Geez, we would have tried to cover it up by now to hide it!" Hehehe....See MoreArea shutting down due to weather headed this way.
Comments (35)I'm having a hard time figuring out why schools and government offices are closing in advance for these storms. I would understand it if they were associated with hurricanes (there are extensive rains over time then.) I also understand taking cover when they are near, but to shut down that far in advance? Will they be doing this for every storm passing through this summer?...See MoreHow to shut down my veggie garden for a year?
Comments (5)Cardboard over the beds (you can get cartons at the grocery store or even larger ones at a furniture or appliance or bicycle store), and then mulch the whole thing. You want mulch over the weedblock fabric anyway since it breaks down over time in sunlight. A thick layer of shavings from a woodworker or shredded tree trimmings from a tree service or buy an 18 wheeler of mulch and hire a couple of high school students to spread it. If you turn it back to garden in a year, just rake the mulch onto the paths and around the edges and you are ready to go. If you use leaves, you can just turn them in if you decide to garden again. My paths are mulch over cardboard since I don't find landscape fabric as effective. Or alternatively, just mulch the paths and plant a dense cover crop such as buckwheat or rye or alternate them from bed to bed. They will look nice for most of the season and when turned in will enrich the soil. No carpet. The previous occupant of my house did that and we had to spend time removing sodden, mildewy old carpet and hauling to the dump. UGH! Probably the nastiest thing I've done in more than 40 years of gardening....See More- 5 years agolast modified: 5 years ago
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