Caveman Cramer

[contraman]

I was watching the fireworks this morning at the opening of the market and had to restrain myself from putting my foot through the television. I actually have to do this quite a bit to the place where I am thinking of building a cage around the idiot box sometime soon….

Cramer keeps talking about how the FED dropped the prime rate and now everybody can refinance and the banks are going to make all this money off this here….

Does this guy live on another planet? I guess it may have something to do with the fact that he is not your average middle class american who had to lie to get an over priced home in CA.

How can people refinance when the majority of loans are JUMBO, and guidelines have tightened, and you have to fully document your income these days or release your tax returns with a 4506 signature.

And what about the fact that most people have no equity in their homes and have low fico scores under 680.

Who the hell is going to buy loans in the jumbo market these days? How about you Jim? Why don’t you back these loans with all the money you made off the street.com…..

This guy is off his rocker……

[bsrsharma]

I don’t know about the “everybody can refinance” part but surely “the banks are going to make all this money off this” is valid. If you have deposits that were earning $2000 interest 4 months back and are earning $1000 interest now, who do you think gets to keep the other $1000? They are still going to collect 19% or 22% from credit slaves but give depositors 3%. That surely helps the bottom line of depository institutions and soothes the MBS ravaged balance sheets a little.

[bsrsharma]

I don’t know about the “everybody can refinance” part but surely “the banks are going to make all this money off this” is valid. If you have deposits that were earning $2000 interest 4 months back and are earning $1000 interest now, who do you think gets to keep the other $1000? They are still going to collect 19% or 22% from credit slaves but give depositors 3%. That surely helps the bottom line of depository institutions and soothes the MBS ravaged balance sheets a little.

[bsrsharma]

I don’t know about the “everybody can refinance” part but surely “the banks are going to make all this money off this” is valid. If you have deposits that were earning $2000 interest 4 months back and are earning $1000 interest now, who do you think gets to keep the other $1000? They are still going to collect 19% or 22% from credit slaves but give depositors 3%. That surely helps the bottom line of depository institutions and soothes the MBS ravaged balance sheets a little.

[bsrsharma]

I don’t know about the “everybody can refinance” part but surely “the banks are going to make all this money off this” is valid. If you have deposits that were earning $2000 interest 4 months back and are earning $1000 interest now, who do you think gets to keep the other $1000? They are still going to collect 19% or 22% from credit slaves but give depositors 3%. That surely helps the bottom line of depository institutions and soothes the MBS ravaged balance sheets a little.

[bsrsharma]

I don’t know about the “everybody can refinance” part but surely “the banks are going to make all this money off this” is valid. If you have deposits that were earning $2000 interest 4 months back and are earning $1000 interest now, who do you think gets to keep the other $1000? They are still going to collect 19% or 22% from credit slaves but give depositors 3%. That surely helps the bottom line of depository institutions and soothes the MBS ravaged balance sheets a little.

[SHILOH]

Richard Simmons and Jim Cramer…. have they been seen together at the same time?

[SHILOH]

Richard Simmons and Jim Cramer…. have they been seen together at the same time?

[SHILOH]

Richard Simmons and Jim Cramer…. have they been seen together at the same time?

[SHILOH]

Richard Simmons and Jim Cramer…. have they been seen together at the same time?

[SHILOH]

Richard Simmons and Jim Cramer…. have they been seen together at the same time?

[Ozzie]

Jumbo’s will come down. First I believe you’ll see Fed Funds rates sub 3% in the next 60 days. Someone will figure out how to create a model for different areas to determine the risk/reward ratio, the likelihood for future property declines, and get a big institution to guarantee it.

If I was Warren Buffet, I’d be setting up direct lending banks in California, New York/NJ and maybe Mass. I’d only offer Jumbo’s to owner/occupied individuals with FICO’s over 700, 20% equity (with appraised values from appraisers that work for me), and documented assets of at least 10% of the home’s value in cash. No brokers. He could get his Geico guys to run the operation. I’d service the loans for a year and then collateralize them. Do you think there would be any buyers for Buffet CDO’s yielding double what T-Bills are selling for? He’d be printing money.

[Ozzie]

Jumbo’s will come down. First I believe you’ll see Fed Funds rates sub 3% in the next 60 days. Someone will figure out how to create a model for different areas to determine the risk/reward ratio, the likelihood for future property declines, and get a big institution to guarantee it.

If I was Warren Buffet, I’d be setting up direct lending banks in California, New York/NJ and maybe Mass. I’d only offer Jumbo’s to owner/occupied individuals with FICO’s over 700, 20% equity (with appraised values from appraisers that work for me), and documented assets of at least 10% of the home’s value in cash. No brokers. He could get his Geico guys to run the operation. I’d service the loans for a year and then collateralize them. Do you think there would be any buyers for Buffet CDO’s yielding double what T-Bills are selling for? He’d be printing money.

[Ozzie]

Jumbo’s will come down. First I believe you’ll see Fed Funds rates sub 3% in the next 60 days. Someone will figure out how to create a model for different areas to determine the risk/reward ratio, the likelihood for future property declines, and get a big institution to guarantee it.

If I was Warren Buffet, I’d be setting up direct lending banks in California, New York/NJ and maybe Mass. I’d only offer Jumbo’s to owner/occupied individuals with FICO’s over 700, 20% equity (with appraised values from appraisers that work for me), and documented assets of at least 10% of the home’s value in cash. No brokers. He could get his Geico guys to run the operation. I’d service the loans for a year and then collateralize them. Do you think there would be any buyers for Buffet CDO’s yielding double what T-Bills are selling for? He’d be printing money.

[Ozzie]

Jumbo’s will come down. First I believe you’ll see Fed Funds rates sub 3% in the next 60 days. Someone will figure out how to create a model for different areas to determine the risk/reward ratio, the likelihood for future property declines, and get a big institution to guarantee it.

If I was Warren Buffet, I’d be setting up direct lending banks in California, New York/NJ and maybe Mass. I’d only offer Jumbo’s to owner/occupied individuals with FICO’s over 700, 20% equity (with appraised values from appraisers that work for me), and documented assets of at least 10% of the home’s value in cash. No brokers. He could get his Geico guys to run the operation. I’d service the loans for a year and then collateralize them. Do you think there would be any buyers for Buffet CDO’s yielding double what T-Bills are selling for? He’d be printing money.

[Author]

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