Thursday, August 09, 2007

Save the Implode-O-Meter

When the Mortgage Lender Implode-O-Meter first hit the blogosphere I didn't post about it. Instead, I just listed it over in the right-hand margin of this blog. I figured since this blog was winding down and most every other housing blog posted on it, that anyone who cared already knew about it. Even during its time of crisis I am only now blogging it.

The fact is that the Implode-O-Meter provides an extremely valuable service which is needed now more than ever and one that I am guilty of having taken for granted. Many blogs, whether administered by experts, insiders, or just regular folks, are the epitome of free speech, hold policy makers and opinion spinsters accountable, chronicle and tally events (even if imperfectly) as they happen and with a degree of honesty, openness, and natural authenticity that is sorely lacking in today's main stream media.

For a few weeks now the Implode-O-Meter has indicated on their site that they are being served with what they describe as a "frivolous lawsuit". I don't doubt it -- the truth hurts and will continue to hurt a lot of people. They are asking for donations to pay the extensive legal fees which they cannot afford and which will eventually shut them down unless we support them.

Please visit their site, decide for yourself, and if you are so inclined, donate what you can spare.

Theirs is not the first blog to be so threatened. And unfortunately, it probably won't be the last either. But imagine what it would be like if vested interests with their vast resources, acting like the music industry over the last few years, started waging war against bloggers by running up their legal bills to the point where they have to fold. We'd be stuck with just the main stream media, the mouthpiece of a privileged few.

I'm not addressing Marin residents. You are all too cheap, despite your "vast wealth", to fork over even a minuscule $0.0025 sales tax to fund a transit system that would have eased our traffic congestion and reduced air pollution. But for the rest of you, please consider a donation.


Blogger see me said...

Happy Marin renter here! SORRY YOU POS FB HOME DEBTORS :)))) I just donated a bit of my monthly rental savings to save the implode meter. To think I was almost talked into buying a condo back in 2005 by one of my real whore "friends" After reading and then this blog I was cured of the BS media spin scam. THANKS!!

Aug 10, 2007, 7:24:00 AM  
Blogger Rob Dawg said...

Aaron tried the frivolous claom in front of the judge. He also tried SLAPP. Neither worked. The plaintiff is clearly wrong but has a strong circumstantial case. M=Iplode put them on the list and that afternoon they lost two lines of credit. The plaintiff is just trying to save face but it is all one big mess. For a hundred grand or so the company can point to M-Implode as the cause and save themselves no end of litigation. A real shame. That said Aaron also paid $50k to Casey Serin for IAFF and now needs $50k.

Aug 10, 2007, 7:29:00 AM  
Blogger Circus Act said...

Alright, I kicked the guy some pocket change in the hopes he can hire a web designer. That Implode site is a visual assault. Great content, though.

I've been meaning to ask this for the past 18 months or so, what does "FB" stand for? I've always assumed f***ed buyers.

Aug 10, 2007, 10:45:00 PM  
Blogger Circus Act said...

Interesting article in SF Gate today about what happens to mortgage loans on the secondary market.

Here's a very interesting article, in plain English, documenting the mechanics of mortgage-backed securities and how the subprime market meltdown will spread to the general economy.

Aug 10, 2007, 10:53:00 PM  
Blogger Marinite said...


Re "FB"... you are quite correct. It was coined by the person who used to run "Another F***ed Borrower". He was a loan approval officer or some such.

Aug 10, 2007, 11:54:00 PM  

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