Some of today’s favorite links from Counterparties.com:
The IMF is considering getting involved with the EU’s bailout investment vehicle — Reuters
Shelly Banjo’s article about the multi-year waiting lists for parking spots at Connecticut train stations is going somewhat viral, for good reason:
Netflix released its third-quarter results this afternoon, showing net income of $62 million, down slightly from the second quarter’s $68 million. And things are going to get much worse before they get better: “We expect to report a global consolidated net loss,” the company said, in the first quarter of 2012. Maybe the company shouldn’t have spent $40 million, over the course of the third quarter, buying back 182,000 shares at an average price of $218 apiece. (In the wake of today’s results, they’re trading in the $80s.)
HARP II is being announced with great fanfare today:
Across the country, nearly 11 million owe more than their property is worth.
Millions of these people have done everything right. They’ve paid all their bills and kept current on their home loans. But right now, they’re stuck with higher payments because their mortgages are underwater. They’re not eligible to refinance because the decline in home prices have made their property worth less than what they owe. And that’s a problem President Obama knows must be addressed…