August 22, 2007

Want to see the housing version of f*ckedcompany.com? Just go to the data section at National Mortgage News















Thought you'd find these numbers and charts interesting. What's most amazing about the charts is how the MSM and NAR spin these housing numbers as "down slightly" or "bottoming" or even "improving". Man, my eyes must deceive.

Keep in mind on the lenders that in many cases, the lender is not the bag-holder. Take Wells Fargo, who makes the loan then gets rid of it as fast as they can like a toxic hot potato. So yes, now that these types of loans are no longer being made, their lending business will collapse, destroying their revenue and profits, but it's the bag-holders that are really gonna take it in the shorts.

7 comments:

Anonymous said...

Check out HSBC. The only chart they show up on is the subprime.

Anonymous said...

I just like the fact that if you look at each top ten list on average 6-7 of the banks listed are either out of business outright or the bank has shut down that arm of its mortgage lending unit!!!

Anonymous said...

yea but, yea but, all those numbers are record highs compared to 1990.

Daniel (the other one) said...

Given that so many of these loans were based on fraud by both homedebtor and mortgage originator, it seems the "bagholder" that owns the CDO should be able to come back and sue the mortgage originator into oblivion. With the potential damages in the billions (and punitive damages 3x that for fraud), seems like these mortgage originators are litigation bait. It might take a few years for it all to work out, but I don't see how they can survive what's coming.

upchucky said...

charles schumer is busy drafting a massive bailout of his wall street buddies with taxpayer money. he is also putting pressure on the treasury dept to allow fannie/freddie to buy all the toxic debt and for the fed to lower rates. i thought the republicans were corrupt stooges of the bankers. the democrats should demand paychecks from wall street for pushing these taxpayer bailouts of billinaire bankers.

http://tinyurl.com/2p4etc

Anonymous said...

Why only go back to June 06?
would have seen a "better picture" back to 2004...
blow off is obvious...

But yes the numbers look, ah,
"discouraging"?

Is that the right word?

the other trader said...

hey upchucky,
It is only a band-aid.

If they tried to bail out this mess, it would result in huge, massive, collossal, gigantic, and BIG inflation.

We would be upping M3 by 100's of %
I THINK, since I am not really sure of todays exact numbers for M3... anyway, it would be money created out of thin air.
So, it would be a limited bail-out.
Only to those who deserve to be bailed out.
The little guy will sink...


Those graphs say it all.