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October 23, 2007


Cordially invites you to
a private sale of HICKEY FREEMAN

Men's Clothing, Furnishings
& Sportswear

Also a limited selecton of
Bobby Jones Women's Cashmere Sweaters

Sunday, Oct. 28th through Thursday, Nov. 1st
Sunday: 9:00am to 6:00pm
Monday through Wednesday: 9:00am to 6:30pm
Thursday: 9:00am to 5:00pm

To be held at:
Soiffer Haskin
317 West 33rd Street, NYC
(Just west of 8th Avenue)

Credit Cards Only
(American Express, Visa or MasterCard)
All Sales Final.
Strollers not allowed. No children under 12 will be admitted.

For more information, call (718) 747-1656,
Monday through Friday: 9:00am to 5:00pm.
Soiffer Haskin, 10 Bank Street, White Plains, NY 10606

October 22, 2007

Converting ARMs to fixed rate mortgages: required ?

"Save the borrower" legislative proposals abound. And,

Sheila Bair, chairman of the FDIC, who proposed yesterday
that mortgage servicers freeze all adjustable rate mortgages
facing resets at their current rates.

Naked Capitalism thinks such
forbearance is doomed.

October 16, 2007

Lost in lossy: compression loses information

Jpeg: image compression artifacts.

October 14, 2007

Nobel prize in economics ?

Update 2008: Fama and Barro are still contenders.

Who will win the Nobel Prize in economics ?
Coruscation presents the short list:

Eugene Fama
Robert Barro
Jagdish Bhagwati (with Amy Chua)
Oliver Williamson
Sargent and Wallace
Jean Tirole
Lars Hansen
Walter Block and Naomi Klein

See also MR and GM.

October 11, 2007

Interest Rate Monitor, bond glossary, BEEM, REMIC

Interest Rate Risk Monitor by James Baker
obsesses about bonds and interest rates.

And from the bond glossary:

Bond-Equivalent Effective Margin (BEEM): The average spread of an adjustable
rate security over the underlying index for the life of the instrument.
BEEM assumes the index remains constant and the coupon of the security
completely resets to the index over time, taking into account all caps, collars
and floors.

REMIC (Real Estate Mortgage Investment Conduit): A tax treatment introduced
by the 1986 Tax Reform Act for multi-class mortgage-backed securities such
as CMOs, Strips and senior/subordinated pass-throughs. An objective of the
REMIC legislation was to permit issuers to assume a more streamlined legal
form than that of the owners trust under which most CMOs had previously
been issued. Issuers have the option to elect REMIC tax treatment until 1992,
when REMIC tax treatment becomes mandatory. REMIC treatment identifies
the securities created as one or more "regular" interests and a single "residual"
interest. In market parlance, the term REMIC is used to refer to a structured
mortgage-backed security electing REMIC status. More loosely, it is used
interchangeably with CMO.

October 10, 2007

Joy Division / Control

BBC, MeFi.

"It could be worse," laughs Gretton cheerfully as Curtis lies semi-conscious
in his dressing room, "you could be in the Fall."

October 4, 2007

Zip Skinny

ZipSkinny provides demographic info by zipcode: Plandome, NY 11030.

October 1, 2007

Queens West / Long Island City grows up

Is Queens West / Long Island City becoming a real neighborhood ?
From Vernon Avenue west to the waterfront, maybe.

Also, an Amish Market is coming to East Coast Phase 2 rental
building at Center Boulevard and 47th Avenue.

Curbed readers note the C-Town Supermarket on 21st St. south of
44th is too downmarket to be counted.