I have in mind Good Fellas without the iron bars. And please no Anthony Stabile, Franky Carbone, Moe Black’s brother Fat Andy, Frankie the Whop, Freddie No Nose, or Pete the Killer Sallie Balls’s brother. Maybe just a stenographer, and I don’t mean Rudolf Hess.

You remember the ones (enter the sleezey huckster) touting how you can move into a house for no money down, with low monthly payments. Just call this 800 number and you’ll have your loan in 10 minutes.

Every time I saw one of these adds it made my blood boil, I told my wife these adds are a sign of things gone mad, this won’t end well.

As they say the rest is history.

http://www.ft.com/cms/s/0/146d358c-5159-11de-84c3-00144feabdc0.html?referrer_id=yahoofinance&ft_ref=yahoo1&segid=03058

Material Non-Disclosure, Conspiracy to Defraud, and a Fiduciary Breach with his pals Hank & Ben as unindicted co-consprirators on the Merrill deal.

Thanks very much, that is a fantastic article.

Once again, this demonstrates what a berry good blog/community this is indeed.

And it is also a reminder that I may need to park some more dinero with Dr. Hussman.

Nope. People with tans.

Displaying tans is clear evidence of not being locked up in the office all day like the common man (although not this common man most fortunately) thus indicating a perk that will agitate the population. Thus ‘tanmen’ must be made an example of to keep the population satisfied the government is still doing something

A person much smarter than me has an opinion or two on the so called “Fed model” that you’re referring to re: valuing stock based on interest rates. See Dr. Hussman’s article here:

http://www.hussmanfunds.com/wmc/wmc070820.htm

He’s written on this more than once so there is probably another article or two in his archives that address this issue.

Today, given our low “risk free” rates, the expectation for P/Es would be for them to be quite a bit higher than in the early ’80s, right?

Now with that out of the way.

What do you call a lawyer at the bottom of the sea?
A good start.

And @Stever Barry and @CNBC Sucks, I googled and I’m surprised: these particular famous words from Keynes (as best I can tell in a very quick search) may not yet have been recorded on The Big Picture (surely I’m wrong?)

“The market can stay irrational longer than you can stay solvent”

Keynes’ record as an investor (for a Cambridge Univ fund) – and in a time period stretching over the Great Depression – is very impressive.