Confidential To Ian Roncoroni: Thanks For The Pageviews

Posted by Bess Levin, Apr 23, 2008, 1:39pm

You’ve got a Delmonico's cheese steak coming your way, on Dealbreaker, delivered by Charlie Gasparino. Tip generously, or you’ll be looking at the business end of a hissy fit. Interested in receiving your own free lunch or snack? Get out there and make something happen. Nothing is beneath you, nor us.


Earlier: The Gaunlet Has Been Thrown Down. Who Will Pick It Up? We're Looking At You Leon Cooperman. Stevie-boy. L-TRAIN.

3Recommend this! 31Comments

Comments

Posted by guest, Apr 23, 2008 1:59PM

Bess: No doubt you've noticed that a great way to get the page views up is to inject some homoeroticism into our otherwise dull days. Makes me wonder about your readers. Me and Pink excepted, of course. GAnalYst

Posted by guest, Apr 23, 2008 2:01PM

you say that like it's a bad thing, GAnalyst?

Posted by guest, Apr 23, 2008 2:02PM

Au contraire, 2:01 GAnalYst

Posted by guest, Apr 23, 2008 2:04PM

That's Ian's 2nd cheesesteak from Delmonico's today. I heard that he was choking one down earlier, right befor lunch.

The Guy from Delaware

Posted by guest, Apr 23, 2008 2:07PM

"heard" i.e. read in comments.

Posted by guest, Apr 23, 2008 2:19PM

duh!

Posted by guest, Apr 23, 2008 2:19PM

I heard guys in Delaware choke when other gays white wash their lungs!

Posted by guest, Apr 23, 2008 2:22PM

whitewash their lungs? does that mean what i think it means?

gross!

Posted by guest, Apr 23, 2008 2:22PM

Guest@2:07PM...

You are correct. Sorry. I was typing faster than usual. I also misspelled "before".

The Guy from Delaware

Posted by mrpink, Apr 23, 2008 2:42PM

Looks like I may have to try & top Ian's feat... tonight.. Chelsea... Hmm...

-mrp

Posted by guest, Apr 23, 2008 2:42PM

anyone know if they were tiny (kumamoto) or fist sized (malpeque, blue point)
i could eat 300 of the former

Posted by mrpink, Apr 23, 2008 2:55PM

2:46-

On the advice of my PR department (Alan Schwartz's old PR dept at Bear), I have been advised not to speak at this time. Details will be forthcoming at a later date. All is fine here at Pink, LLC

;-)

-mrp

(damn cool story though!! ROFL)

Posted by mrpink, Apr 23, 2008 2:55PM

PS: Better check your pants

LOL

-mrp

Posted by Anal_yst, Apr 23, 2008 2:55PM

14:53 04/23 DJ US House Panel Supports Legal Protections For Mtge Firms

WASHINGTON (Dow Jones)-- A U.S. House panel Wednesday voted to shield
mortgage-service firms from lawsuits if they work to modify certain loans for
struggling homeowners.
The House Financial Services Committee approved by voice vote legislation
creating a "safe harbor" for firms that are trying to alter the terms of
mortgages that are facing foreclosure. The goal, lawmakers said, is to
encourage servicers to do more to modify loans without the fear of lawsuits
from investors in mortgage-backed securities and other pooled mortgage assets.
"It will encourage more servicers to participate and for those that don't want
to participate it will remove the excuse," Committee Chairman Barney Frank,
D-Mass., told reporters.
Housing groups have complained about the slow pace of voluntary modifications
by mortgage firms, blaming the reticence in part on a fear of lawsuits from
investors who hold the mortgage-backed assets. The legislation approved
Wednesday wouldn't abrogate existing contracts, but it would say servicers were
fulfilling their fiduciary duty by working out loans.

I'm sure all the MBS investors are simply going to LOVE this...

Posted by guest, Apr 23, 2008 3:05PM

Anal_yst@2:55PM...

Good information, but what the hell does it have to do with Ian and the oysters, vodka, and the cheesesteaks?

Are you suggesting that Ian run for Congress?

The Guy from Delaware

Posted by guest, Apr 23, 2008 3:10PM

Guy: you clearly don't understand how this works. The stories are incidental. Bess posts things when she gets around to it, and the best ones are those that have human rather than financial interest (see "Ian and the Oysters"). We get to josh around with each other, while we're waiting for our spreadsheets to recalc. Every so often though something important happens. No so important that it jumps up on Bloomberg, but important enough. We're not gonna wait for Bess to notice it (she's busy with the more interesting stuff), so its up to people like Anal_yst to bring it to our attention. So chill.

Posted by guest, Apr 23, 2008 3:13PM

eh, seems like anal_yst, who does this often, just wants to try and steer the conversation his way.

Posted by guest, Apr 23, 2008 3:16PM

could be, but we generally value anal_yst for his thoughtful if slightly nerdy take on things.

Posted by guest, Apr 23, 2008 3:18PM

Nice:

http://news.yahoo.com/s/bloomberg/20080423/pl_bloomberg/a5d4rqyixmww

A War on Poverty? How about a war on getting the billions spent on Iraq back?

Posted by guest, Apr 23, 2008 3:18PM

what insight did we gain from his copying and pasting of a story?

Posted by guest, Apr 23, 2008 3:19PM

@3:16 Or not. For some of us. Or a lot of us.

Posted by guest, Apr 23, 2008 3:21PM

If your eye was already on DJ Newswire, none. Mine however wasn't, so I got plenty of insight.

Posted by guest, Apr 23, 2008 3:23PM

"McCain said one area where government should take action is assuring that every community in America can develop a modern- communications infrastructure, including high-speed Internet service, by issuing government-backed loans or by issuing low- interest rate bonds."

- Uh, so we can *all* search for porn faster? Is this guy for real? Gee...I need bandwidith in my mo-bile home...and my neighbor needs to check stocks in the cardboard box he's living in. *This* is his plan?

Posted by guest, Apr 23, 2008 3:34PM

In *even more* sunny economic news for today:

http://biz.yahoo.com/ap/080423/general_electric_shareholders.html

GE Cap folks might want to start makin' some calls... Ya don't want to be a few months down the road and be at the back of the line. Then again, there's always da Shack, craigslists, or the back of Village Voice. Or retail since you all are supposedly good with numbers and shops always need someone to work the register.

Posted by guest, Apr 23, 2008 3:40PM

Guest@3:13PM...

I agree. Anal_yst should have posted the DJ Newswire on some other, more appropriate thread.

Guest@3:10PM...

Ian's buffoonery is more interesting than your spreadsheet.

The Guy from Delaware

Posted by Anal_yst, Apr 23, 2008 3:46PM

It got posted in the post most occuring most closely to when the story crossed my screen.

Was hoping someone had some insight from an asset manager (i.e. MBS bond holder)'s perspective on servicer work-outs, but alas...

Posted by guest, Apr 23, 2008 4:09PM

Anal_yst@3:46PM...

The MBS bond holders may be okay with the legislation. Here's why:

Having a stream of income payments resume sooner, though diminished, is better than possibly finding out later that they might not be getting any at all.

Bankruptcies, writedowns, lawsuits, etc. are a lot for the MBS holders to wade through and still maintain hope that they will be made completely whole.

What do you think?

The Guy from Delaware

Posted by guest, Apr 23, 2008 4:33PM

@3:34...harboring some resentment?

Posted by Anal_yst, Apr 23, 2008 4:47PM

@ guy from delaware

I'd imagine its a far more complicated decision that has to be analyzed on a deal-by-deal/situation-by-situation level. Is the PV of giving servicers leeway higher than taking the hardline stance? I'm just curious whats actually being done, since I haven't heard much of anything.

Posted by guest, Apr 23, 2008 5:10PM

Anal_yst@4:47PM...

I haven't heard much either. You are right about the decisions being made at the individual level.

The legislation does give the MBS holders a convenient way to cut losses and to stabilize their situations in the face of a steadily worsening shit storm.

A bankrupt homeowner is not going to make the applicable hardline MBS holder whole again. Neither will a bankrupt servicer.

The Guy from Delaware

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