More Pay Option ARM and Hammered

Karen DeCoster has noted my earlier post on pay option ARMs (see “Pay Option ARM and Hammered” - link follows) wherein I offered a criticism to her for labeling ARMs “evil.”

Karen has posted a bit of a lengthy reply to my post, which begins by welcoming me back to the world of blogs (thank you, Karen), and then delves into why she thinks her usage of the word “evil,” to describe ARMs, is justified.  Karen’s rebuttal leans heavily on Austrian economics.

Further into the piece, Karen’s hackles are displayed, in response to a comment left by another fellow blog individual, which was left at my post Pay Option ARM and Hammered.

Unfortunately, I do not have sufficient time, at this particular moment, to reply more heartily to Karen.  But I will this weekend.

Karen’s current piece, titled “On ARMs, Bullish Know-Nothings, and Functional Retards,” can be read here.

Posted by on 09/14 at 05:51 PM

  1. Well, unfortunately, Ms. DeCoster somehow got the notion that I’m cheering from the Bull section, when in actuality, and if you really read what she cites without a preconceived notion, I’m a Bear.

    Want more proof? This post was written and posted prior to this whole conflagration:

    http://www.uncsense.com/root/2006/09/lets_rally.html

    “Let’s Rally!” is sarcasm, by the way. Actually, it’s also frustration, as all my bearish credit spreads are getting squeezed and I’m tired of it.

    That said, I regret how I characterized Ms. DeCoster’s intelligence and have emailed to apologize. It was rude and crude, and I’ll be expecting better of myself in the future.

    Posted by Richard Nikoley  on  09/14  at  11:35 PM

  2. John,

    Of course you were right, an ARM is just a financial tool. The fact that the government manipulates markets doesn’t change that.

    Posted by John T. Kennedy  on  09/15  at  12:09 AM

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