Comments by JohnnyVegas | San Diego Reader

JohnnyVegas

Las Vegas down, but this won't help San Diego

I know there is literally tons of new building being foreclosed on in Las Vegas, especially the high end condos built on or near the strip. Miami, Las Vegas and San Diego were at the top of the real estate bubble, so now that the bubble has popped we see these areas really getting hammered, and hammered hard. It will be interesting to see what happens if a serious downturn hits Las Vegas. I was always surprised that Las Vegas could have such a long economic expansion. As for gambling-it is nothing but problems.
— July 16, 2008 5:25 p.m.

Lepine Drops Harassment Suit, Receives No Payment. Will Campaign Now Focus on Goldsmith's Domestic Uproars?

OK, Valley Girl was written by Frank Zappa, but it was sung by Moon Unit-I thought Moon Unit put the single out on her own album. As for putting Moon Unit on the map-I had never heard of her before that song, and she was a one hit wonder-but I can still recall her and the song 26 years later. The exteriors for Fast Times at Ridgmont High were filmed at Santa Monia Place.
— July 16, 2008 4:59 p.m.

Las Vegas down, but this won't help San Diego

Since there is high leverage in the building of so many of those Casino's it will be interesting to see if any go BK. Steve Winn might be sweating a few bullets about now...... Las Vegas has not really had a downturn for over 20 years......in fact it has probably had more economic expansion than any major city in the US over the last 20-30 years.
— July 16, 2008 12:12 p.m.

County Retail Sales Dropping Sharply; Tax Receipts Will Feel It

In the meantime, Harvard has lauded SDCERS for having one of the highest rates of return of any municipal retirement system. Half of the money in the system is from investment returns. ======================== They are getting good returns because they are making high leverage, high risk, high downside bets. Risking money they get to keep if they succeed and money the taxpayers have to cover if they lose. As with what happened with the Ameranth (sp) hedge fund meltdown where $175 million went bye bye in 1 week (just SD's money-the hedge fund lost 6 billion in 1 week), leverage is a two way street.
— July 16, 2008 10:40 a.m.

Lepine Drops Harassment Suit, Receives No Payment. Will Campaign Now Focus on Goldsmith's Domestic Uproars?

A little bit of trivia for everyone; I believe "Valley Girl" is actually from Frank's daughter "Moon Unit Zappa". VG put Moon Unit on the music map. Was a very popular song, at least on the west coast. That song came out in 81 or 82, and Nick Cage played his first major lead role the following year (1983) in the movie "Valley Girl". VG was flmed at the Sherman Oaks Galleria shopping center (as was Fast Times at Ridgmont High-based on San Diego resident Cameron Crowe's life at Clairmont High) located at the 405/101 interchange-and that entire mall has now been converted to office space.
— July 16, 2008 10:33 a.m.

Administration Wants To Bail Out Wall Street Through Massive Subsidy of Fannie Mae, Freddie Mac. But Market Not Buying It

. This comes after well over 2000 banking companies failed in the 1980's and early 1990's. ================================ Actually I do not believe a single bank failed in the 80's, it was 100% Savings and Loans, who Regean allowed to "invest" their money outside of the only investment they were alowed back then-home mortgages and trust deeds. So the notion that 2000 "banks" failed is pure nonsense. In the great depression there were 4000 bank failures-so by your numbers the 80's produced bank failures of 50% of the great depression-total 100% baloney. When S&L were allowed to "invest" in other areas a massive corruption set in-MOST NOTABLY Vernon, Lincoln and Columbia, three of the most criminally culpable S&L's. So Trussles, you know I am right, and that must really deflate your ego a bit... hence your cosntant harping about me....... sort of like VoSD all over again!
— July 16, 2008 10:26 a.m.

Administration Wants To Bail Out Wall Street Through Massive Subsidy of Fannie Mae, Freddie Mac. But Market Not Buying It

How can johnny possibly have this list? ============ I never said I had any list, I just said there are going to be many more banks failing. In case you didn't notice we have had 1 of the big five Wall Street investment banks go BK, and another is almost BK-or 40% of Wall Street's major investment banks. Fannie Mae and Freddie Mac are BK, from cash flow to asset/liability. That is 6 TRILLION dollars of debt. IndayMac is BK and for the first time in 80 years people/consumers were lined up 200 deep to pull out money from a commercial bank. This is not rocket science, just common business sense. Take it FWIW.
— July 15, 2008 5:33 p.m.

Administration Wants To Bail Out Wall Street Through Massive Subsidy of Fannie Mae, Freddie Mac. But Market Not Buying It

Nobody knew anything until someone called the news and told them that they went to their bank and it had been closed which of course got broacast right away. I found out from my ex as she saw it on the news. I believe that the state had been looking at the bank and brought the feds in. ========= So in other words you're BSing. Good job.
— July 15, 2008 5:28 p.m.

Administration Wants To Bail Out Wall Street Through Massive Subsidy of Fannie Mae, Freddie Mac. But Market Not Buying It

Johnnyvegas, what exactly do you mean by a "run on a bank" Are you simply reffering to a bunch of people lining up to get their money out of a bank that's been taken over by the FDIC? It happens quite a bit actually. Their have been scores of banks that have failed with deposits ranging from a few million to several billion. As for people lining up to get their money, I would imagine it happens most of the time to one degree or another. =============================== Schumers letter spooked all the people who had money in IndyMac. He released the letter and for the next 13 days everyone ran to pull their money out, 1.3 Billion. There have not been lines of people lined up to pull money out of a bank since the 20's. Not even with the S&L scandals of the 1980's. As for your comment that tehre was a "run" on your bank in the 90's, name it. Im calling BS. As for other banks failing and your lack of faith in me, that is exactly what Mike Milken said about Columbia, Centrust and Vernon back in the 80's. There have been bank failures, and tons of S&L failures, in recent years, but there has never been a RUN on a bank since 1929.
— July 15, 2008 1 p.m.

More Wall Street Socialism: SEC Wants to Thwart Short Selling of Fannie, Freddie, Brokerage Stocks

Your post is the EXACT same thing David Cay Johnston states throughout his book "Free Lunch". In fact your post is almost a word for word match of the exact same things he rails against throughout the book. Amazing how smart intelligent people think alike (BTW, Im with you 100%).
— July 15, 2008 11:51 a.m.

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JohnnyVegas

Las Vegas down, but this won't help San Diego

Lepine Drops Harassment Suit, Receives No Payment. Will Campaign Now Focus on Goldsmith's Domestic Uproars?

Las Vegas down, but this won't help San Diego

County Retail Sales Dropping Sharply; Tax Receipts Will Feel It

Lepine Drops Harassment Suit, Receives No Payment. Will Campaign Now Focus on Goldsmith's Domestic Uproars?

Administration Wants To Bail Out Wall Street Through Massive Subsidy of Fannie Mae, Freddie Mac. But Market Not Buying It

Administration Wants To Bail Out Wall Street Through Massive Subsidy of Fannie Mae, Freddie Mac. But Market Not Buying It

Administration Wants To Bail Out Wall Street Through Massive Subsidy of Fannie Mae, Freddie Mac. But Market Not Buying It

Administration Wants To Bail Out Wall Street Through Massive Subsidy of Fannie Mae, Freddie Mac. But Market Not Buying It

More Wall Street Socialism: SEC Wants to Thwart Short Selling of Fannie, Freddie, Brokerage Stocks

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