This Real Estate Bubble, Like Some Relat…

28-03-2017 Hits:310 BoomBustBlog Reggie Middleton

This Real Estate Bubble, Like Some Relationships, Is Complicated...

CNBC reports US home prices rise 5.9 percent to 31-month high in January according to S&P CoreLogic Case-Shiller. This puts the 20 city index close to an all time high, including...

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Bloomberg Chimes In With My Warnings As …

28-03-2017 Hits:507 BoomBustBlog Reggie Middleton

Bloomberg Chimes In With My Warnings As Landlords Offer First Time Ever Concessions to Retail Renters

Over the last quarter I've been warning about the significant weakness in retailers and the retail real estate that most occupy (links supplied below). Now, Bloomberg reports: Manhattan Landlords Are Offering...

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Our Apple Analysis This Week - This Comp…

27-03-2017 Hits:699 BoomBustBlog Reggie Middleton

Our Apple Analysis This Week - This Company Is Not What Most Think It IS

We will releasing our Apple forensic analysis and valuation this week for subscribers (click here to subscribe - lowest tier is the same as a Netflix subscription). As can be...

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The Country's First Newly Elected Lame D…

27-03-2017 Hits:1080 BoomBustBlog Reggie Middleton

The Country's First Newly Elected Lame Duck President Will Cause Massive Reversal Of Speculative Gains

Note: Subscribers should reference  the paywall material here for stocks that should give a good risk/reward scenario for bearish trades. The Trump administration's legislative outlook is effectively a political desert, with...

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Sears Finally Throws In The Towel Exactl…

22-03-2017 Hits:1953 BoomBustBlog Reggie Middleton

Sears Finally Throws In The Towel Exactly When I Predicted "has ‘substantial doubt’ about its future"

My prediction of Sears collapsing once interest rates started ticking upwards was absolutely on point.

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The Transformation of Television in Amer…

21-03-2017 Hits:2201 BoomBustBlog Reggie Middleton

The Transformation of Television in America and Worldwide

TV has changed more in the past 10 years than it has since it's inception nearly 100 years ago This change is profound, and the primary benefactors look and act...

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It's the Real Estate Crash That I Warned…

20-03-2017 Hits:2718 BoomBustBlog Reggie Middleton

It's the Real Estate Crash That I Warned You About (again)

I've issued several warnings late last year warning of the real estate bubble peaking and popping. I feel I'm especially qualified to do such since I quite accurately called the...

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When It Comes Time To Show and Prove, Eq…

20-03-2017 Hits:2290 BoomBustBlog Reggie Middleton

When It Comes Time To Show and Prove, Equity Markets May Drop Hard

The markets have gotten euphoric since the Trump election, apparently because someone believed what he was selling. Take a look at the broad market jump (powered greatly by the bank...

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So, Brexit Is Now Almost Official. Is Th…

20-03-2017 Hits:1241 BoomBustBlog Reggie Middleton

Note: All downloadable legacy content is for subscribers only. We currently have a sale for $11 per month for basic access. Professional subscribers are now evevated to have direct access...

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In Less Than Two Weeks, Another Bitcoin …

17-03-2017 Hits:3189 BoomBustBlog Reggie Middleton

In Less Than Two Weeks, Another Bitcoin ETF Faces SEC Deadline - It's Denial Is NOT A Bearish Event

LedgerX's "SOLIDX BITCOIN TRUST" has an approval deadline this March 30th, 2017.If it is approved, Bitcoin is due for one hell of a bump, but...  

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The Fed Raises Rates While Still Baby Fe…

17-03-2017 Hits:2887 BoomBustBlog Reggie Middleton

The Fed Raises Rates While Still Baby Feeding the MBS Market With Billions in Monthly Purchases

The Fed has raised rates, officially making real what was mere signaling of the end of its expansionary era... Or is it? You see, from a practical perspective, QE is...

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A Bitcoin ETF or Similar Regulated Insti…

16-03-2017 Hits:3463 BoomBustBlog Reggie Middleton

A Bitcoin ETF or Similar Regulated Institutional Vehicle is a Forgone Conclusion - What Happens Next?

Someone with over 53 years on Wall Street sent me this article from Lex of the Financial Times...

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Bernstein Litowitz Berger & Grossmann LLP Announces Filing of Class Action Suit Against MBIA, Inc. and Certain of Its Senior Officers and Directors: The Complaint alleges that during the Class Period, MBIA and the individual defendants, Chief Executive Officer Gary C. Dunton and Chief Financial Officer C. Edward Chaplin, violated the federal securities laws by issuing false and misleading press releases, financial statements, filings with the SEC and statements during investor conference calls. The Complaint alleges that, throughout the Class Period, Defendants misrepresented and/or failed to disclose the true extent of MBIA's exposure to losses stemming from MBIA's insurance of residential mortgage-backed securities ("RMBS"), including in particular its exposure to so-called "CDO-squared" securities that are backed by RMBS. This highly risky exposure was belatedly disclosed in a series of public statements beginning on December 19, 2007 and ending on January 9, 2008, the last day of the Class Period. One analyst observed that MBIA had withheld from the public the riskiest parts of its insured portfolio, while others expressed similar dismay at MBIA's failure to apprise investors of these risks in a timely manner. But the readers of the BoomBustBlog.com knew this way ahead or time, or at least I hope they did.

Keller Rohrback L.L.P. Announces ERISA Investigation of the MBIA Inc. 401(k) Plan: Keller Rohrback's investigation involves concerns that MBIA and other administrators of the Plan may have breached their ERISA-mandated fiduciary
duties of loyalty and prudence to participants and beneficiaries of the Plan. A breach may have occurred if the fiduciaries failed to manage the assets of the Plan prudently and loyally by investing the assets in Company stock when it was no longer a prudent investment for participants' retirement savings. These shysters obviously failed to read Moody's reports. Don't they know that MBIA has AA rated debt and AAA rated claims paying capabilities. Thier new debt even pays 14%, just like junk bonds!

Statman, Harris & Eyrich, LLC Announces Investigation On behalf of Participants and Beneficiaries of the MBIA Inc. 401(k) Plan: The class action Cincinnati law firm of Statman, Harris & Eyrich, LLC announces it is investigating MBIA Inc. (NYSE:MBI) ("MBIA" or "Company") for potential violations of the Employee Retirement Income Security Act of 1974 ("ERISA") relating to the MBIA Inc. 401(k) Plan (the "Plan"). These shysters obviously failed to read Moody's reports as well. I guess us bloggers aren't the only ones left off of the Moody's AA cum junk mailing lists.

 

In particular, this investigation focuses on whether Plan fiduciaries breached their fiduciary duties by failing to prudently manage the Plan's assets by, inter alia: (a) offering MBIA stock as a Plan investment option and requiring participants to invest in the stock, (b) permitting the Plan to be invested in MBIA stock when it was imprudent to do so, and (c) encouraging investment in the Company stock in the plan by withholding or concealing material business or financial results information from the Plan's participants and beneficiaries.

Fitch Places 1 class of Nelnet Education Loan Funding, Inc. on Rating Watch Negative: Fitch Ratings-New York-07 January 2008: Fitch Ratings places 1 class of Nelnet Education Loan Funding, Inc. student loan interest margin securities on Rating Watch Negative. This action follows Fitch's placement of MBIA and its financial guaranty insurance subsidiaries Insurer Financial Strength (IFS) rating of 'AAA' on Rating Watch Negative. For more information please refer to 'Fitch Places MBIA on Rating Watch Negative on CDO & RMBS Review ', dated Dec. 20, 2007, available on the Fitch Ratings web site at 'www.fitchratings.com'. The ratings of the following ABS transactions are supported by a financial guaranty policy provided by MBIA Insurance Corp., which is a subsidiary of MBIA, and therefore are placed on Rating Watch Negative. Nelnet Education Loan Funding, Inc. (fks NEBHELP) - 1998 Trust (SLIMS) --class SLIMS at 'AAA'

As I have said in the past, Fitch is getting more aggressive than the other two big agencies. I expect to see more of this as teh losses pile on to the point where avoidance of a downgrade becomes a public relations nightmare. As it is now, I am sure the more shaky clients of ABK and MBIA are quaking in their boots - particularly after what happened with ACA.