Wall Street Breakfast: Must-Know News [View article]
Obama vetoes foreclosure bill. In the first effective veto of his presidency, Obama blocked a bill that would have required state and federal courts to accept the validity of out-of-state document notarizations; the bill would have made it harder to challenge the authenticity of foreclosures and other legal documents. ______________________...
I have mixed feelings about this whole mess but the Community Organizer in Chief's veto of this foreclosure bill was entirely too predictable. Whatever the shortcomings in title transfers, we know money is owed and the people living in the house owe it.
Cramer's Mad Money (1/6/09) China Saves the World [View article]
I watched the show and noted Cramer's comments about China. In thinking about investment themes for the new year, China shows up on the radar screen because it's size and the fact that it is still growing.........maybe 5% down from 10%. Wireless and other consumer sectors appear interesting.
With respect to the stimulus package and China fueling exports, I would urge caution. Reuters quoted Shanghai Citigroup Ken Peng as saying, “The stimulus package is big, but it’s actually a combination of a lot of things that have already been announced.”
A glaring example of China’s PR machine in action is that the $600-billion package included nearly $3 billion that Beijing had already earmarked for rebuilding in Sichuan province and other regions devastated by the earthquake earlier this year.
The stimulus plan also called for some $292 billion on the railway system. But Ting Lu, a Merrill Lynch analyst, reported that most of it had been previously allocated. He pegged the real number at $58 billion of new funds — still a sizeable number but far short of what China led the world to believe.
Wall Street Breakfast: Must-Know News [View article]
______________________...
I have mixed feelings about this whole mess but the Community Organizer in Chief's veto of this foreclosure bill was entirely too predictable. Whatever the shortcomings in title transfers, we know money is owed and the people living in the house owe it.
Cramer's Mad Money (1/6/09) China Saves the World [View article]
With respect to the stimulus package and China fueling exports, I would urge caution. Reuters quoted Shanghai Citigroup Ken Peng as saying, “The stimulus package is big, but it’s actually a combination of a lot of things that have already been announced.”
A glaring example of China’s PR machine in action is that the $600-billion package included nearly $3 billion that Beijing had already earmarked for rebuilding in Sichuan province and other regions devastated by the earthquake earlier this year.
The stimulus plan also called for some $292 billion on the railway system. But Ting Lu, a Merrill Lynch analyst, reported that most of it had been previously allocated. He pegged the real number at $58 billion of new funds — still a sizeable number but far short of what China led the world to believe.