Unfortunately many people misuse the lower cost options for excessive consumption…
Whattaya gonna do?
Short the shit out of LEND and CFC and laugh when the market dictates that lots of these loans are bad.
HLS, you make a very good point, but its too subtle and not contextually sensitive enough. No loan by itself is evil, but when you give J6P the ability to do something stupid that benefits himself in the short term at a huge long term cost, he will.
Its hard to believe a former loan officer doesn’t understand todays products, but hey its possible. What annoys me is like many new posters he just asks a question without having read the bubble primer and some threads first.
I loved his comment about the bears not being bearish enough. Did you hear at the end when he said he sold all his real estate. Damn skippy! Wasn’t he promoting CFC quite recently?
I loved his comment about the bears not being bearish enough. Did you hear at the end when he said he sold all his real estate. Damn skippy! Wasn’t he promoting CFC quite recently?
How long can WaMu and or any other bank claim that unpaid interest on ARM and NegAm mortgages as profit? When will that actually flow through to earnings reports revisions?
How long can WaMu and or any other bank claim that unpaid interest on ARM and NegAm mortgages as profit? When will that actually flow through to earnings reports revisions?
