iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,427 Blog Posts

Fly’s Blogging Lesson Number Three of Five

If you are unable to make a baby laugh or a genius think, do not bother blogging.

Class dismissed

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21 comments

  1. Professor Charles Kingsfield
    Professor Charles Kingsfield

    “You teach yourselves the law. I train your minds. You come in here with a skull full of mush, and if you survive, you’ll leave thinking like a lawyer.”

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  2. Scum Bucket

    The only thing you’re good at is making sticky shorts and smelly shoes..

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  3. LOL

    googoo gaah gahh is to booboo bahhg bah
    as boo bahh haa haah is to what?
    yes! I can blog!

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  4. Shane

    Unfortunately there are 10 Lessons. Email me for the other 5

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  5. mdawsz

    If blogging was a sport it would be in the gay olympics. Early returns indicate that Ducati is looking at a podium finish.

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  6. Scum Bucket

    If blogging was a sport it would be in the gay olympics.

    Or the gay rodeo. 😉

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  7. The Fly

    What’s gayer?

    Blogging or being an avid blog reader?

    Hmmm.

    NEVER fucking forget that, fuckfaces.

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  8. Yeshua

    Fly is right. Fuck reading. I’m going to learn braille.

    Fly: Post something in braille for us.

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  9. Dinosaur Trader

    Right on, Fly.

    Create, or be created on… sounds gross, no?

    -DT

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  10. herctrader

    Hmmm…(thinking)…………..Yes you are a good blogger. Bravo!

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  11. JakeGint

    What’s gayer?

    Blogging or being an avid blog reader?

    Are you serious?

    There’s no question that blogging is gayer.

    Fancy, even.

    This is why I have more kids than you. I just read the shit, for the most part.

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  12. The Fly

    Jake:

    You are in no position to talk.

    You Sir, are Lord Fucktard, God of Comments and Man of many Guises—with well over 3,000 responses and counting.

    Don’t fuck with me.

    “The Fly” always wins.

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  13. chivasontherocks
    chivasontherocks

    Jake, take a look at fed’s latest 10q from 5/12/08. take a close look at notes to the statements, amount cmo’s and mbs, and other goodies. if you factor out or reduce substantially some of these things, see what happens to so called bv

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  14. JakeGint

    Fly,

    True enough, but that’s just dilettantism. Having fun.

    Not nearly as gay as full time blogging.

    Update: And I am not “Fucktard,” btw, if that’s what you are implying.

    _______________

    Chivas,

    What do you mean by “factor out?”

    __

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  15. Society of Dilettanti
    Society of Dilettanti

    Sir JakeGint,

    Please submit your 4% dues to the club for 2007. Your payment is now overdue and in order to keep your membership in good standing a payment is due within 30 days.

    If a payment has been made already, please disregard this notice.

    Respectfully,

    Treasurer, Society of Dilettanti

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  16. JakeGint

    Chivas,

    I took a look at the 10-q notes, and saw 390+mm of CMO’s and MBS’s… question is: why are they holding these, and what is the underlying collateral for that nearly $400 mm ticking time bomb?

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  17. JakeGint

    No way the secretary of the Dilettante’s club is that anal about the dues…

    Gotta be the gay dinosaur.

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  18. chivasontherocks
    chivasontherocks

    Jake,

    should have said back out instead of factor out.

    these cmo’s and mbs’s are for sale. it gets better, look at accounting for impaired loans and how they treat arm’s and negative amortization and how they contribute to earnings. also look at the yrs of when most of these mtgs were made and documentation. if california r/e continues to decline, well you know the rest. thanks for making me take a close look at fed. i will be shorting tomorrow.

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  19. JakeGint

    ….also look at the yrs of when most of these mtgs were made and documentation. if california r/e continues to decline, well you know the rest.

    Actually, I had made note of that yesterday when I was doing the initial analysis, but it ended up “on the cutting room floor” when I saw how huge my post had gotten.

    Shitpot of mortgages made in the 2005-2006 “peak pricing” period. Oh, there’s more to come for that sucker, I’m pretty sure.

    Thanks for taking it seriously….

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  20. KissMyAss

    Can someone wake me up when Bernanke is finished speaking…

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  21. jrw

    added some V here…

    BTW…only the shitty CA real estate in suburban slums with vagrant neighbors are in foreclosure – it sure aint in brentwood..sacramento ,riversidehell holes ..blech…speaking of laughing babies – I hate that commercial with those demonic laughing ugly baby creatures…people stop yer freakin spawning! my rice is organic and pricey thanks to you! – the world does not want to hear from your slimey sperm..hahaha

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