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Warren Buffett: Who To Blame For Bad Loans?

Posted by Sean | September 22, 2008 .

Warren Buffett quote from the early seventies…
The (bank) President is making a mistake in blaming the borrower. Every bank gets offered lots of bad loans, and it is the banker’s fault if he accepts them.
Buffett: The Making of an American Capitalist
by Roger Lowenstein
page 143

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3 Songs: Fannie May & Freddie Mac

Posted by Sean | September 13, 2008 .

Take A Load Off Fannie (from: The Weight by: The Band)

That Rose, Fannie Mae (from: Kiss From A Rose, by: Seal)

Debtors Prison Blues (from: Folsom Prison Blues, by: Johnny Cash)

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Do Future Real Estate Commissions Count Against Net Worth?

Posted by Sean | September 7, 2008 .

I’ve seen different ideas on how to calculate net worth, but I don’t think I’ve seen any mention of future real estate commissions. Why not? In my mind, the moment we signed the papers, we created a material liability in the form of seller’s fees. We may not know the exact timing, but it is [...]

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Extreme Home Makeover (needs an) Extreme Concept Makeover

Posted by Sean | July 28, 2008 .

from WSB in Atlanta….
Extreme Home Makeover House Threatened With Foreclosure

An Extreme Home Makeover may be going bust. The first metro family who got a new home is facing foreclosure.
“Beazer gave them $100,000 cash, paid their mortgage off and they still can’t make it," said Oswalt.

SLIDESHOW: Before-and-After (whoa nelly!)
It’s been awhile since I caught a whiff [...]

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