Starbucks is reportedly adding alcohol to the menu at one of its stores. When asked why, a spokesperson for Starbucks said, “Because sober people don’t pay eight bucks for a cup of coffee.”

I wouldn’t either, and given today’s GDP numbers, neither would many others. GDP, which measures the value of all goods and services produced [...]

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      and   Mortgage Servicers Pledge to Accelerate Modifications -  By Dawn Kopecki – Mortgage servicers meeting with Obama administration officials pledged to step up the pace of loan modifications to keep more struggling homeowners from sliding into foreclosure, according to the U.S. Treasury. -  Bloomberg vsBarney Threatens Cramdowns [...]

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    US Housing Nearing Bottom, Foreclosures Worrying (Vol 2) – More indication of a bottom forming in the US housing market emerged today courtesy of the Case-Shiller price index. At the same time, further warning signs emerged on the risk of rising foreclosures stifling a housing recovery. – S&P [...]

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To Our Clients, Colleagues and Friends,

Lehman Brothers Bank has changed its name to Aurora Bank, and it could be headed for some dark days with their regulators.  They have about $500 million in brokered deposits coming due starting in August, and we’d guess they’re not allowed to replace them with new brokered deposits.  Uh oh.

We [...]

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