Comments on: From the Sun Sentinal in Florida: State freezes ‘run on the bank’ at investment fund http://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/ local real estate news, statistics, and commentary without the sales spin. Mon, 22 Mar 2010 14:22:25 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: old timerhttp://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31857 old timer Sat, 01 Dec 2007 19:57:55 +0000 http://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31857 @ Mark L

You should ‘be kind’ toward the section 8’s.
Many have no cultural history of property stewardship.
A nomadic existence in a world of sub-par rentals and the neighborhoods they are located in have given little guidance in the ways of the landed gentry.

Your role as a neighbor should be that of a patient mentor, giving them instruction in the approved methodology for dealing with dead automobiles, cigarette butts, and assorted junk food wrappers.
The rules of proper deportment should also be exemplified by mowing the grass, keeping the audio devices to a sonic bubble of 10 feet, and having no parties of more than 6 attendees that last beyond midnight.
In time, these section 8’s could become true members of the propertied class if their period of residence and instruction could last long enough for the course to be completed.

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]]> By: Mark Lhttp://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31850 Mark L Sat, 01 Dec 2007 16:53:58 +0000 http://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31850 Hope Now Alliance just means that there would be more deadbeats in the neighborhood where I eventually do buy a home. They are the ones who won't maintain their home or yard - they can't afford it. It will be like renting next to Section 8's - only now it is long term proposition.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('31850','Mark L',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('31850','Mark L','Hope Now Alliance just means that there would be more deadbeats in the neighborhood where I eventually do buy a home. They are the ones who won\'t maintain their home or yard - they can\'t afford it. It will be like renting next to Section 8\'s - only now it is long term proposition.',''); return false;">Quote</a></div> Hope Now Alliance just means that there would be more deadbeats in the neighborhood where I eventually do buy a home. They are the ones who won’t maintain their home or yard – they can’t afford it. It will be like renting next to Section 8’s – only now it is long term proposition.
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]]> By: TJ_98370http://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31786 TJ_98370 Fri, 30 Nov 2007 23:52:44 +0000 http://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31786 King County Investment Pool fund invested $53.5 million into an SIV called Mainsail II . <a href="http://seattlebubble.com/forum/viewtopic.php?p=6871#6871" rel="nofollow">see forums</a><div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('31786','TJ_98370',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('31786','TJ_98370','King County Investment Pool fund invested $53.5 million into an SIV called Mainsail II\r\n.\r\n<a href=\"http:\/\/seattlebubble.com\/forum\/viewtopic.php?p=6871#6871\" rel=\"nofollow\">see forums<\/a>',''); return false;">Quote</a></div> King County Investment Pool fund invested $53.5 million into an SIV called Mainsail II
.
see forums
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]]> By: Jonnyhttp://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31782 Jonny Fri, 30 Nov 2007 23:29:21 +0000 http://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31782 "Connecticut, Maine, Montana and King County, Washington, are among other governments holding similar investments, in smaller quantities."God, I could swear I've heard of this "King County" somewhere...<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('31782','Jonny',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('31782','Jonny','\"Connecticut, Maine, Montana and King County, Washington, are among other governments holding similar investments, in smaller quantities.\"\r\n\r\nGod, I could swear I\'ve heard of this \"King County\" somewhere...',''); return false;">Quote</a></div> “Connecticut, Maine, Montana and King County, Washington, are among other governments holding similar investments, in smaller quantities.”

God, I could swear I’ve heard of this “King County” somewhere…

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]]> By: bilirubenhttp://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31779 biliruben Fri, 30 Nov 2007 23:12:46 +0000 http://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31779 You must not be him. It was company that ran a stock market style roto baseball game. It used to be great fun. Sporting News bought them out and started charging for it. Alas.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('31779','biliruben',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('31779','biliruben','You must not be him. It was company that ran a stock market style roto baseball game. It used to be great fun. Sporting News bought them out and started charging for it. Alas.',''); return false;">Quote</a></div> You must not be him. It was company that ran a stock market style roto baseball game. It used to be great fun. Sporting News bought them out and started charging for it. Alas.
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]]> By: Pondscumhttp://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31778 Pondscum Fri, 30 Nov 2007 23:01:49 +0000 http://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31778 Might be a different Pondscum although I haven't met any others recently.... Smallworld?<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('31778','Pondscum',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('31778','Pondscum','Might be a different Pondscum although I haven\'t met any others recently.... Smallworld?',''); return false;">Quote</a></div> Might be a different Pondscum although I haven’t met any others recently…. Smallworld?
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]]> By: bilirubenhttp://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31775 biliruben Fri, 30 Nov 2007 22:36:43 +0000 http://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31775 Pondscum!?! Not THEE pondscum?Does Smallworld mean anything to you?<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('31775','biliruben',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('31775','biliruben','Pondscum!?! Not THEE pondscum? \r\n\r\nDoes Smallworld mean anything to you?',''); return false;">Quote</a></div> Pondscum!?! Not THEE pondscum?

Does Smallworld mean anything to you?

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]]> By: Pondscumhttp://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31765 Pondscum Fri, 30 Nov 2007 21:00:05 +0000 http://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31765 King County is mentioned in the Bloomberg article about the Florida panic: <b><i> The Florida pool, which was the largest of its kind in the U.S. at $27 billion before the recent spate of withdrawals, has invested $2 billion in SIVs and other subprime-tainted debt, state records show. Connecticut, Maine, Montana and King County, Washington, are among other governments holding similar investments, in smaller quantities.</i></b>http://tinyurl.com/yw62ee<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('31765','Pondscum',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('31765','Pondscum','King County is mentioned in the Bloomberg article about the Florida panic:\r\n<b><i>\r\nThe Florida pool, which was the largest of its kind in the U.S. at $27 billion before the recent spate of withdrawals, has invested $2 billion in SIVs and other subprime-tainted debt, state records show. Connecticut, Maine, Montana and King County, Washington, are among other governments holding similar investments, in smaller quantities.<\/i><\/b>\r\n\r\nhttp:\/\/tinyurl.com\/yw62ee',''); return false;">Quote</a></div> King County is mentioned in the Bloomberg article about the Florida panic:

The Florida pool, which was the largest of its kind in the U.S. at $27 billion before the recent spate of withdrawals, has invested $2 billion in SIVs and other subprime-tainted debt, state records show. Connecticut, Maine, Montana and King County, Washington, are among other governments holding similar investments, in smaller quantities.

http://tinyurl.com/yw62ee

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]]> By: Bucerihttp://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31757 Buceri Fri, 30 Nov 2007 20:51:55 +0000 http://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31757 What happens if you already lost your house? Do you get it back?<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('31757','Buceri',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('31757','Buceri','What happens if you already lost your house? Do you get it back?',''); return false;">Quote</a></div> What happens if you already lost your house? Do you get it back?
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]]> By: S-Crowhttp://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31755 S-Crow Fri, 30 Nov 2007 20:49:20 +0000 http://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31755 Thaxter-This is straight from King County website, but I'll try to dig up other sources I read about them starting to watch their exposure.http://www.metrokc.gov/finance/news/CommercialPaper.aspx<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('31755','S-Crow',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('31755','S-Crow','Thaxter-\r\n\r\nThis is straight from King County website, but I\'ll try to dig up other sources I read about them starting to watch their exposure.\r\n\r\n\r\nhttp:\/\/www.metrokc.gov\/finance\/news\/CommercialPaper.aspx',''); return false;">Quote</a></div> Thaxter-

This is straight from King County website, but I’ll try to dig up other sources I read about them starting to watch their exposure.

http://www.metrokc.gov/finance/news/CommercialPaper.aspx

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]]> By: Thaxterhttp://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31754 Thaxter Fri, 30 Nov 2007 20:38:42 +0000 http://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31754 Can you give any more information than that you have heard King County may have toxic mortgage elements in its pension fund? I have a friend who works for KC, and if this is true, I'd like to warn her to look into it.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('31754','Thaxter',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('31754','Thaxter','Can you give any more information than that you have heard King County may have toxic mortgage elements in its pension fund? I have a friend who works for KC, and if this is true, I\'d like to warn her to look into it.',''); return false;">Quote</a></div> Can you give any more information than that you have heard King County may have toxic mortgage elements in its pension fund? I have a friend who works for KC, and if this is true, I’d like to warn her to look into it.
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]]> By: S-Crowhttp://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31753 S-Crow Fri, 30 Nov 2007 20:36:38 +0000 http://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31753 Software-Excellent. Now I'll just wait to qualify for the New Hope Alliance program and keep my interest rate frozen for several more years. No need to refinance. The government will do if for me!<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('31753','S-Crow',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('31753','S-Crow','Software- \r\n\r\nExcellent. Now I\'ll just wait to qualify for the New Hope Alliance program and keep my interest rate frozen for several more years. No need to refinance. The government will do if for me!',''); return false;">Quote</a></div> Software-

Excellent. Now I’ll just wait to qualify for the New Hope Alliance program and keep my interest rate frozen for several more years. No need to refinance. The government will do if for me!

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]]> By: steve-ohttp://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31751 steve-o Fri, 30 Nov 2007 20:25:46 +0000 http://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31751 How do I paste in a web link without creating 2feet of blank space in my post?<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('31751','steve-o',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('31751','steve-o','How do I paste in a web link without creating 2feet of blank space in my post?',''); return false;">Quote</a></div> How do I paste in a web link without creating 2feet of blank space in my post?
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]]> By: softwarengineerhttp://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31750 softwarengineer Fri, 30 Nov 2007 20:25:39 +0000 http://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31750 NOT TO WORRY SEATTLEThe local Seattle subprime mortgage mess will clear up under the new banking negotiations called the "Hope Now Alliance" and the Bush Administration.The Catch:Example mortgage interest freezing will only occur on ARMs suddenly going from 7.5% [a low teaser rate...lol] to like 11% and here's the part that will really get you rolling on the ground laughing [if you're looking at Seattle sized mortgage payments] , its divided in groups that can afford to pay the restructuring and those that can't.Sounds like a Jumbo loan at 3.9% [a real teaser rate] going up to like 7-8% are excluded. By the way, in Seattle jumping to even 7-8% will totally destroy our local fragile market. Yes, Nostradarnus, even a rocket scientist can figure that one out.They should rename it the "Hopeless Alliance"; as the key welfare recipients are Wells Fargo, WAMU and Citi; with Bush wildly waving his hands around in the background.See the proof:http://www.rgemonitor.com/blog/roubini/229674/<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('31750','softwarengineer',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('31750','softwarengineer','NOT TO WORRY SEATTLE\r\n\r\nThe local Seattle subprime mortgage mess will clear up under the new banking negotiations called the \"Hope Now Alliance\" and the Bush Administration.\r\n\r\nThe Catch:\r\n\r\nExample mortgage interest freezing will only occur on ARMs suddenly going from 7.5% [a low teaser rate...lol] to like 11% and here\'s the part that will really get you rolling on the ground laughing [if you\'re looking at Seattle sized mortgage payments] , its divided in groups that can afford to pay the restructuring and those that can\'t.\r\n\r\nSounds like a Jumbo loan at 3.9% [a real teaser rate] going up to like 7-8% are excluded. By the way, in Seattle jumping to even 7-8% will totally destroy our local fragile market. Yes, Nostradarnus, even a rocket scientist can figure that one out.\r\n\r\nThey should rename it the \"Hopeless Alliance\"; as the key welfare recipients are Wells Fargo, WAMU and Citi; with Bush wildly waving his hands around in the background.\r\n\r\nSee the proof:\r\n\r\nhttp:\/\/www.rgemonitor.com\/blog\/roubini\/229674\/',''); return false;">Quote</a></div> NOT TO WORRY SEATTLE

The local Seattle subprime mortgage mess will clear up under the new banking negotiations called the “Hope Now Alliance” and the Bush Administration.

The Catch:

Example mortgage interest freezing will only occur on ARMs suddenly going from 7.5% [a low teaser rate...lol] to like 11% and here’s the part that will really get you rolling on the ground laughing [if you're looking at Seattle sized mortgage payments] , its divided in groups that can afford to pay the restructuring and those that can’t.

Sounds like a Jumbo loan at 3.9% [a real teaser rate] going up to like 7-8% are excluded. By the way, in Seattle jumping to even 7-8% will totally destroy our local fragile market. Yes, Nostradarnus, even a rocket scientist can figure that one out.

They should rename it the “Hopeless Alliance”; as the key welfare recipients are Wells Fargo, WAMU and Citi; with Bush wildly waving his hands around in the background.

See the proof:

http://www.rgemonitor.com/blog/roubini/229674/

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]]> By: steve-ohttp://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31749 steve-o Fri, 30 Nov 2007 20:23:49 +0000 http://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31749 From a Billings Gazette article:
“The subprime investment jitters have hit Yellowstone County government. On Tuesday, Yellowstone County Commissioners asked the Montana Board of Investments to return nearly $72 million of its investment funds because of the potential exposure to risky loans and other concerns.”
“Yellowstone County Finance Director Scott Turner said he just got nervous and so did the commissioners. ‘All three agreed to redirect the money to the bank for now until we get a better comfort level with what’s going on,’ Turner said”.
“In addition to the subprime risks, Turner said he could no longer get a quote on the daily yield or the investment returns on county funds.”

http://www.billingsgazette.net/articles/2007/11/28/news/local/18-countyfunds.txt

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]]> By: Bucerihttp://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31747 Buceri Fri, 30 Nov 2007 20:04:21 +0000 http://seattlebubble.com/blog/2007/11/30/from-the-sun-sentinal-in-florida-state-freezes-run-on-the-bank-at-investment-fund/#comment-31747 A co-worker has been hired by a bank just for the next 2 weekends to show houses to bidders. 60 houses going from foreclosure straight to auction. No point in wasting their time listing them. This is for the Tampa area.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('31747','Buceri',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('31747','Buceri','A co-worker has been hired by a bank just for the next 2 weekends to show houses to bidders. 60 houses going from foreclosure straight to auction. No point in wasting their time listing them. This is for the Tampa area.',''); return false;">Quote</a></div> A co-worker has been hired by a bank just for the next 2 weekends to show houses to bidders. 60 houses going from foreclosure straight to auction. No point in wasting their time listing them. This is for the Tampa area.
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