August LC Thread: Now With 100% MOAR Gif Lag

[Ashington]

Hedge Funds Jumping Back Into Sub Prime Mortgages

http://www.nypost.com/p/news/busines...X9XKcJnIGgx42J

Five years after the US housing market started to melt, at least several hedge funds have decided that the bottom is near and the Fed is on their side so they are moving back into the residential mortgage-backed securities market in a big way.

Over the past year, about 15-to-20 new hedge funds have been launched to focus on residential mortgage-backed securities. Others are ramping up investments.
Many are looking at the risky subprime paper that cratered the US financial system. The big players are:
* Steve Feinberg’s Cerberus Capital Management, which has the biggest new residential mortgage-backed securities fund and hit the $1 billion mark recently.;
* Hayman Capital’s Kyle Bass, whose fame and fortune was made by shorting subprime, and started a dedicated mortgage-backed fund late last year;
* Goldman Sachs Asset Management;
* Major multi-strategy funds like Och-Ziff Capital Management, Soros Fund Management and D.E. Shaw;
* Dedicated firms including Pine River Capital Management, Metacapital Management, One William Street and Axonic Capital.
“Mortgage-backed securities have basically trounced the other hedge fund strategies,” said one well-known portfolio manager who has been running a dedicated mortgage-backed hedge fund for years.
Some funds have annualized returns of 50 percent, he said.

mother of god..

[ikestoys]

Well duh? Why wouldn't they?

[Ashington]

I can't think of a single reason why they wouldn't!

Mods plz delete snarky last line of previous poast

[DblBarrelJ]

Winning a gold medal brings a $9,000 tax bill

When Olympic medalists return to the United States, they're in high demand. Everyone, from Michael Phelps to a bronze medalist in judo will be sitting for television interviews, talking to newspapers, going to assemblies at local schools and celebrating with friends, family and young athletes. They'll also draw some unwanted interest from everyone's favorite bureaucrats: the IRS.
Medalists will have to pay hefty taxes for standing on the podium in London. It's not the value of the medal itself that will require a separate line on this years tax returns, it's the tax on the prize money that comes with a gold, silver or bronze.

The United States Olympic Committee rewards Olympic medalists with honorariums. A gold medal brings $25,000. Silver medals get you $15,000. And a bronze is worth $10,000.
The Weekly Standard, a conservative news magazine, ran the numbers and tabulated that the tax bill on a gold is $8,986, silver is $5,385 and bronze is $3,500.
They note that Missy Franklin, an amateur who has yet to cash in on her fame with endorsements, already owes $14,000 in taxes from her gold and silver medal. By the time the Games are finished, Franklin's tax bill could reach $30,000.

[MrWookie]

Spoiler:

[suzzer99]

Originally Posted by Ashington

Hedge Funds Jumping Back Into Sub Prime Mortgages

http://www.nypost.com/p/news/busines...X9XKcJnIGgx42J



mother of god..

Why not? Either they make money or get bailed out.

[MrWookie]

HOLY ****! MAN WALKS ON ****ING MOON, STILL HAS TO PAY INCOME TAXES ON HIS SALARY

[suzzer99]

Originally Posted by DblBarrelJ

Where is this master list of police salaries?

I'd like to review it in case I decide to head back into that line of work?

http://gcc.sco.ca.gov/CompensationDe...0&GetCsu=False

Police Sergeants are on page 3 - look at total wages (with OT and deferred vacation or whatever other perks they get). Sorry it was $317k. Pretty sure we already did this whole convo in the July LC thread.

[Dids]

That article is written as if what she's getting is the medal + a bill for the worth of the medal. She's getting paid too, she just gets taxed on it.

[kimoser22]

Shouldn't be too surprising re: big investors getting back into the sub-prime market. Some people are going to chase yield no matter how risky it may be, the RBMS became so big for a reason...(honestly prob not a bad spot right now)

A new spot for the bloodsucking funnel?

http://www.nytimes.com/2012/08/02/ny...pagewanted=all

Don't know if this is good, bad or ugly?

[DblBarrelJ]

Originally Posted by suzzer99

http://gcc.sco.ca.gov/CompensationDe...0&GetCsu=False

Police Sergeants are on page 3 - look at total wages (with OT and deferred vacation or whatever other perks they get). Sorry it was $317k. Pretty sure we already did this whole convo in the July LC thread.

No, you just kind of "ZOMG, a highly trained team leader on a team of individuals with a rare skill set which is in high demand is earning six figures!"

If you cited anything I didn't see it.

[MrWookie]

Originally Posted by Dids

That article is written as if what she's getting is the medal + a bill for the worth of the medal. She's getting paid too, she just gets taxed on it.

It was actually news to me that the winners got honorariums. The fact that they're subsequently taxed on them? lol, standard. DBJ, if you want to pay me $25k so that I get HAMMERED with a $9k tax bill, I accept.

[Huehuecoyotl]

Originally Posted by Dids

That article is written as if what she's getting is the medal + a bill for the worth of the medal. She's getting paid too, she just gets taxed on it.

Yea i could see waving the taxes on the medal so the athlete wouldn't face the embarrassment of getting a medal then having to sell it to pay the taxes, but a wave on the prize money seems silly.

[Wynton]

Originally Posted by MrWookie

It was actually news to me that the winners got honorariums. The fact that they're subsequently taxed on them? lol, standard. DBJ, if you want to pay me $25k so that I get HAMMERED with a $9k tax bill, I accept.

I hear that the athletes are threatening to quit the Olympics if Obama follows through on his plan to raise tax rates.

[ikestoys]

Originally Posted by kimoser22

Shouldn't be too surprising re: big investors getting back into the sub-prime market. Some people are going to chase yield no matter how risky it may be, the RBMS became so big for a reason...(honestly prob not a bad spot right now)

A new spot for the bloodsucking funnel?

http://www.nytimes.com/2012/08/02/ny...pagewanted=all

Don't know if this is good, bad or ugly?

Lol that and the government has their back at every step in the process.