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September 9, 2007 at 2:34 PM in reply to: Helicopter Drops and Lollipops…why the Fed saving your SD house is a Myth #83947
JWM in SD
ParticipantMost probably that will be too soon…but suit yourself.
Participant“I guess if you’re unemployed, there’s nothing better to do than to protest :)”
Yeah, either that or try to extract more “equity” from your house or apply for more credit cards.
Participant“This isn’t necesarilly true, is it? It could be that whoever holds the loan now would be doing the subsidizing”
And who would that be? Private investors? Really? How would you like your pension fund or 401k invested in that?
Participantbasically what tgey are saying is that they want a Govt subsidization of the difference between the teaser rate and the risk adjusted full rate…I.E they want the savers to pay their mortgage.
Fu-k Them..all of them….
Participantmixx,
Your post is confusing. What exactly is Chamberhead saying?
September 8, 2007 at 3:19 PM in reply to: Countrywide announces possible layoff of additional 12,000 #83884Participant“This is only the beginning of layoff induced hard times.
1. Subprime = price drops
2. Alt-A = more price drops
3. Prime = more price drops
4. Fraud and Lies = more price drops
5. Foreclosures to market = more price drops
6. Layoffs = more price drops
7. More foreclosures = more price dropsYep, that is why it is stupid to think that 50% off peak is not possible in SoCal and specifically San Diego. There will be overcorrection to the other side of the mean. To think otherwise is nieve at best and myopic at worst.
ParticipantPUTs only for me and only what I’m willing to lose.
Regarding the 18th, I don’t think WS is going to get what it wants from Bernanke.
ParticipantThe thing that bugs me is the blatancy of it all. This will make Enron look like small potatoes. Its almost as though Ken Lay taught these bastards like CEO Godzilla what Not to do if you are going to rip off the shareholders and retail investors. There are going multitudes of class action lawsuits flying.
Participant“.BofA …Wells Fargo, UBOC….just watch”
How about WAMU?
September 7, 2007 at 9:42 AM in reply to: Countrywide’s message of confidence turned to crisis #83727ParticipantLink requires subscription….
Participantesmith,
I agree, the stories cited here are somewhat bizarre examples in my opinion. I only did a cursory review of the whole thing, but there was something odd about the second story on Inez as well. In the article it states that she managed save $150K and yet was struggling with the payment. Saving that much money is extremely difficult unless the HHI is high enough to actually make the payments they were supposedly struggling with. Sounds like lazy reporting to me.
Participant“Now the question is will it be a 25 bps or 50 bps cut and does it even matter. There are many things screaming recession here.”
No Rate Cuts, Wall Street isn’t going to get what it want’s unless it gets much much worse:
“Four regional Federal Reserve bank presidents declined to endorse a cut in the
benchmark interest rate this month, as policy makers gauge the impact of the credit- market rout on the U.S. economy.Kansas City Fed President Thomas Hoenig and Dennis Lockhart of the Atlanta Fed said they hadn’t seen sure signs of a housing spillover into the broader economy. St. Louis Fed President William Poole and the Dallas Fed’s Richard Fisher said the effects of the turmoil so far are unclear.”
ParticipantRich was and is very conservative about his predictions, but I can tell you with a high degree of certainty that the top was called at the Ben Jone’s blog fairly early. That blog is less data driven than this one is and uses the MSM to chronicle what is happening all over the country although the California posts get the most responses…upwards of 300 in many cases.
Oh yeah, and Schizo, if you think I’m a nasty bitter renter a-hole, then go post your nonsense at that blog…you will get your a** handed to you in shorter order than here.
ParticipantAh yes, very mature Lost Cat..are you sure you and Schizo are not the same person..it would explain quite a lot.
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