read this – Basically, It’s Over – By Charles Munger – A parable about how one nation came to financial ruin. – Slate.com ———— How Long, To The Point Of No Return? – David Merkel – Alea posted a paper, [...]

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My daughter and I went through the McDonald’s take-out window and I gave the clerk a $5 bill. Our total was $4.25, so I also handed her a quarter. She said, “You gave me too much money.” I said, “Yes I know, but this way you can just give me a dollar bill back.” She [...]

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  OneWest bank profit: $1.6 billion – By E. Scott Reckard – As IndyMac, it sold last year for less than that. Investors win, but the FDIC could still lose nearly $11 billion on bad loans that the Pasadena institution made before its sale. … "This is [...]

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  NOTE:  Compass has added a new number to the Morning Color.  The C30 Avg GPM (Conventional 30-year average gross profit margin) tracks the gross profit margin from the previous day’s originations across the same national pool of originators and loan locks used in Compass’s Production Index. This number represents the [...]

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