Brent Nyitray
Fairlington Blade
Let the mutherfuker burn!
jnc4p
Kevin S. Willis
Michigoose
lmsinca
markinaustin
Arcanaut
novahockey
quarterback
ScottC
yellojktMarkets are higher this morning on no real news. Bonds and MBS are up small.
Not a lot to talk about this morning – Alibaba raises almost $22 billion in its IPO, and the Scots reject independence.
The Index of leading economic indicators came in at .2% for August, a drop from the upward-revised 1.1% in July and Street expectations of .4%.
Did QE actually inhibit lending? David Kelly, chief global strategist at JP Morgan has an interesting theory – that QE pushed rates so low, that it didn’t make sense for banks to lend money at such low levels. He also mentions the Administration’s war on the financial sector, which probably has more to do with it. But he has a point – when the government meddles too much with interest rates, you are going to have unintended consequences.
Filed under: Morning Report |
All Things in Moderation 
Why is Clapper still in his position after knowingly lying to Congress?
http://www.washingtonpost.com/opinions/david-ignatius-we-underestimated-the-islamic-state-james-clapper-says/2014/09/18/f0f17072-3f6f-11e4-9587-5dafd96295f0_story.html
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That was our corporate experience. Rates super low, but no one qualified. Short term corporate liquidity needs during the 2009-2010 period were met through personal credit cards and home equity lines.
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Interesting bankruptcy case out of Colorado. Individual debtors filing for personal bankruptcy can’t list legal marijuana as an asset as it’s prohibited by federal law and bankruptcy is a federal proceeding.
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I assume it is a non-exempt asset under state law, as well. Thus, if it is a large enough asset to attract creditor attention, could enforcement of a state court judgment through execution be granted a waiver from the automatic stay? Assume a secured creditor has such a judgment, what result? Assuming it is an unsecured creditor, preference issues would arise, so that at an execution sale the Trustee would take the proceeds.
Anomalous.
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We sure dodged a bullet with that idiot Palin Broad.
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Mark, in this case it prevented the debtors from filing all together. The United States Trustee moved to dismiss and it was upheld.
Westlaw cite : 2014 WL 4288991
“so that at an execution sale the Trustee would take the proceeds.”
The ruling apparently held that the Trustee was forbidden from administering an asset that was illegal under Federal Law.
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When Obama loses the media on “It’s Bush’s Fault ™
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Thanx, JNC.
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