40 Years In The Desert: The Vultures Have Arrived Looking for Dead Meat Investments.

08 August 2007

The Vultures Have Arrived Looking for Dead Meat Investments.

It appears that noted vulture investor Wilbur Ross is looking at the mortgage meltdown.

He's made a fortune picking through the bones of failed steelmakers, textile mills and coal miners. Now billionaire investor Wilbur Ross is taking aim at another beleaguered industry: subprime mortgage lenders.

He took his first step on Monday by providing $50 million in debtor-in-possession financing for American Home Mortgage Corp (AHMIQ.PK: Quote, Profile, Research), which filed for bankruptcy earlier in the day.

He buys things like coal mines and steel companies on the cheap, and resells them to people who kill coal miners and default on retirement and health insurance guarantees.

Lovely fellow, and he'll have a lot of work in the immediate future.

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Matthew Saroff, Mechanical Engineer, Owings Mills, Maryland, US

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A member of the Democratic wing of the Democratic party, and a fan of Bernie who thinks Neoliberal (DLC/New Dem) trickle down conomics sucks.

Mechanical Engineer with a background in defense, electronics packaging, medical & food equipment, transportation, and manufacturing.

In my spare time (Hah!), I am the developer of the Firefox addon, bbCode for Web Extensions (bbCodeWebEx).

I have two cats, a black cat, and a gray and white long hair cat, who keep me on my toes. (Because he keeps attacking my feet)

I am a Jew and a Zionist, who is married to a woman with exquisitely bad taste in men, and I have two remarkable children with her.

What is 40 Years in the Desert?

This blog is a place to put my stream of consciousness thoughts about life, politics, technology, and cats.

It's a posting ground for my more-or-less annual personal newsletter, 40 Years in the Desert.(PDF's available at link)

I find that if I wait until year's end I miss stuff from earlier in the year.

40 Years is put out the old fashioned way, it's printed out on ledger sized paper with 4 pages and mailed to people, total circulation of about 100.

I'm just not the holiday card kind of guy. A warning, if you comment here, I may use it in my paper publication.

You will get credit, and if I can get your postal adress, you will get at least the issue where you are quoted (probably a lot more, I rarely trim my list).

If someone actually wants to pay for an issue...I don't know, I guess a buck, but you can get the PDF's free.

I intend to post at least a couple of times a week,

40 Years In The Desert

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08 August 2007

The Vultures Have Arrived Looking for Dead Meat Investments.

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