April 09, 2008

Unwind


Unwind \Un*wind"\, v. t. [AS. unwindan. See 1st Un-, and Wind to coil.]

1. To wind off; to loose or separate, as what or convolved; to untwist; to untwine; as, to unwind thread; to unwind a ball of yarn.

2. To disentangle.

3. To watch the Real Estate Industrial Complex blow up in spectacular fashion after years of unchecked and unregulated commission-fueled fraud and greed which took control of the world financial system, resulting in millions of ruined lives, trillions in losses, and all kinds of unintended consequences

9 comments:

area 51 said...

Proof realtors will lie, cheat and otherwise sell out their own flesh and blood, just to make a buck....

“‘If we don’t buy within the next five months, we’re stupid,’ said Ashley Yarno, whose aunt is a real estate agent and advised the couple, in their mid-20s, that the time to act is now, before prices start climbing again.”

rich in fl said...

Ouch!!! this really hurts!

Anonymous said...

http://calculatedrisk.blogspot.com/2008/04/volcker-on-bear-stearns-and-more.html

``The Federal Reserve has judged it necessary to take actions that extend to the very edge of its lawful and implied powers, transcending in the process certain long-embedded central banking principles and practices,'' Volcker said in a speech to the Economic Club of New York.
...
Volcker, the Fed chairman from 1979 to 1987, had implicit criticism for U.S. regulators and market participants who allowed ``excesses of subprime mortgages'' to spread into ``the mother of all crises.'' The Fed's Bear Stearns loan was unusual, he said.

``What appears to be in substance a direct transfer of mortgage and mortgage-backed securities of questionable pedigree from an investment bank to the Federal Reserve seems to test the time-honored central bank mantra in time of crisis: lend freely at high rates against good collateral; test it to the point of no return,'' he said.
...
Volcker said the modern financial system has ``failed the test'' of the marketplace. When asked whether he predicts a ``dollar crisis,'' he said, ``you don't have to predict it, you're in it.''

Buzz Saw said...

This is gonna come unwound like the recoil starter spring off the top of your old lawnmower. Man, I hate messing with those things. It'll be fun watching the politicos trying to put it all back together.

DOPES said...

.
THAT PICTURE IS MAKING ME CRY...

I HAD A KITTEN LIKE THAT IN THE HOUSE THAT SWAN SOLD ME...

ANGELO HELPED ME BUY IT WITH A SUBPRIME LOAN...

BUT THEN I LOST IT TO FORECLOSURE WHEN MY POOL CLEANING JOB WENT TITS UP IN PHOENIX DURING THE BIG HOUSING BUST...

BEN KEPT CUTTING RATES, BUT IT DOESN'T HELP WHEN YOUR NOTE IS $4K AND YOU ONLY MAKE $1K...

AFTER MY REAL ESTATE NEVER WENT UP, ANGELO PUT US OUT IN THE STREET...

IN THE END, I HAD NO CHOICE BUT TO TAKE THE LITTLE FELLOW TO THE POUND...

I HOPE HE MADE IT...

IF NOT, HE'S ON YOUR CONSCIENCE ANGELO...

DOPES!!!

Dawn Ofanewday said...

Last week's session (Th 3/13/08) was only the 6th time in the last 176 years that Congress has closed its doors to the public.

Word has begun leaking that not only did members discuss new surveillance provisions as was the publicly stated reason for the closed door session, they also discussed:

the imminent collapse of the U.S. economy to occur by September 2008;
the imminent collapse of US federal government finances by February 2009;
the possibility of Civil War inside the USA as a result of the collapse;
advance round-ups of "insurgent U.S. citizens" likely to move against the government;
the detention of those rounded-up at "REX 84" camps constructed throughout the USA (see en.wikipedia.org...);
the possibility of retaliation against members of Congress for the collapses;
the location of "safe facilities" for members of Congress and their families to reside during expected massive civil unrest

satan said...

http://tinyurl.com/48zn29

Recession Is Here, Greenspan Says

Former Federal Reserve Chairman Alan Greenspan said the U.S. is “in the throes of a recession” and continued to publicly defend his legacy Tuesday in an interview with business-cable network CNBC.

Greenspan said that he has “no regrets” over Fed policy conducted during his tenure and that there was little the central bank or regulators could’ve done to avert the U.S. housing crisis. “I have said to many questions of this nature that I have no regrets on any of the Federal Reserve policies that we initiated back then because I think they were very professionally done,” he said said.

Keyser Soze said...

Granted...what real info can a schmuck from Sedona obtain...but it seems all the money from the 'Fed' has gone to shore up the bank's capital ratios, not lending.
How ironic if the loans Apollo & TPG purchased from C...were their own!

Refuse to buy overpriced said...

Hey dawn ofanewday,

Please quote your sources when you make extravagant claims.