They Know Nothing

On CNBC's Stop Trading with Erin Burnett a year ago today, Jim Cramer absolutely lost it while discussing the subprime mess.

And what a mess it is. Cramer is just great entertainment and Bear Stearns, trading 109 on this day, is now a morsel of JP Morgan. Since then, the FED has cut over 300 basis points and difficulty in acquiring credit remains at extreme levels as we continue to wring out these excesses and absorb the existing housing inventories.

Orlando to Get Tax Hike

Although voters overwhelmingly passed Amendment 1, essentially reducing the tax burden of property owners in Florida, City of Orlando governmental officials have simply voted to upwardly adjust the millage rate, which could lead to an increase in property taxes for some city property owners.

Please see the Orlando Sentinel article at the following link: http://www.orlandosentinel.com/classified/realestate/orl-citybud2208jul22,0,228000.story