W.C. Varones

6.29.2007

For the record

It's impossible to make a bad road movie. Name one. I dare you.

Beautiful weather, but only an average crowd. First down market street, then south of Market winding up at the ball park where a Giants game was on. Hit a dead end, then came up 3rd for some more SoMa chenanigans. Through the Tenderloin, around Civic Center, then up Franklin and then through the projects to Alamo Square.

This guy should get on a bicycle:

Rounding the corner at Alamo Square:

On the way to Critical Mass

On the way to Critical Mass, I saw the trekkies waiting to buy iPhones:

... and that was around the block. Here's what the front of the Apple store looked like:

This lady kept honking because she didn't like me taking pictures of the iPhone crowds. I guess she didn't like me taking a picture of her either:

Total unmitigated disaster

That's what I'm talking about!

The subprime mortgage problem will worsen over the next year and the rate of loan delinquencies could rise further, an influential fund manager specializing in mortgage backed securities said on Wednesday.
Jeffrey Gundlach, chief investment officer at the Trust Company of the West (TCW) who oversees about $60 billion in assets, also said the worsening subprime woes would slow the economy down and lead to a cut in interest rates.
"The subprime area is a total unmitigaged disaster and it's going to get worse," Gundlach told Morningstar's annual investment conference in Chicago.
Gundlach, picked by research firm Morningstar as the best fixed income manager for 2006, said delinquencies in loans made to risky borrowers could rise as housing prices in the United States are declining, supply is growing and credit to subprime borrowers has been tightened, making refinancing difficult.