rumor is he is bidding to cover at 1930's lows. he thinks by then the market might have 'overreacted a bit'
Do not like Tice and his calls but this one needs some attention. CNN reports that 7.5M homes are beyond foreclosure value i.e. mortage defaults have already occured. Another 5M homes are in the negative equity but owners are putting money in somehow. These numbers are tooooooo big to ignore. Suppose the home owners cut all other expenses and throw everything towards the mortgage, other industries will suffer resulting in huge layoffs and the circle of recession is completed either way. Only bail out makes a sense!!!!!!!!!!!!!!!!!
NNOOOOOOOOO. I will not support any bailout package that attempts to take my tax dollars and gives them to people who were not prudent with their borrowing and ability to pay. To do so is a MORAL HAZARD!!!!
David Tice is thumbing his nose at the short-sale ban and said DJIA will revisit 5000-6000. http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a4lQ5dNksbcU
Man, Is that a recent picture of Tice in his Office? Whats with the 50 lbs. CRT monitor in the background? The guy is still living in the past. You think he'd shell $300 for a nice 22" or something.....scheezeee.