tag:blogger.com,1999:blog-18675105.post1224408417124610184..comments2023-12-30T10:06:37.450+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: FLASH: UK taxpayers (via Bank of England) buy up $100 billion in depreciating mortgages, with $100 billion more expected to comebloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger19125tag:blogger.com,1999:blog-18675105.post-63878820741535832912008-04-22T02:13:00.000+01:002008-04-22T02:13:00.000+01:00S&P added that saving Fannie (FNM) and Freddie (FR...S&P added that saving Fannie (FNM) and Freddie (FRE, Fortune 500) might cost so much that the federal government's AAA credit rating, the top possible rating, might even be at risk. If that was lost, then all federal government borrowing would become more expensive.<BR/><BR/>Wait correct me if I'm wrong.. The US has an intrest only loan of 10 Thrillion dollars called the national debt. The world will soon call it a PrimeTimeSubprime loan or PTS.<BR/> <BR/>Like Father Like Son..Borrow on brave young solder.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-26685817224362933592008-04-22T02:05:00.000+01:002008-04-22T02:05:00.000+01:00Wait correct me if I'm wrong.. The US has an intr...Wait correct me if I'm wrong.. The US has an intrest only loan of 10 Thrillion dollars called the national debt. The world will soon call it a PrimeTimeSubprime loan or PTS.<BR/> <BR/>Like Father Like Son..Borrow on brave young solder.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-84632120819089507182008-04-22T00:30:00.000+01:002008-04-22T00:30:00.000+01:00"The $100 billion is just for starters."And pretty..."The $100 billion is just for starters."<BR/><BR/>And pretty soon you're talking real money, gadfly.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-33055133567530461342008-04-21T20:44:00.000+01:002008-04-21T20:44:00.000+01:00Drudgereport is starting to look like Housing pani...Drudgereport is starting to look like Housing panic, here are a few of the headlines. <BR/><BR/><BR/>MOUNTAIN VIEW, Calif. — Many parts of America, long considered the breadbasket of the world, are now confronting a once unthinkable phenomenon: food rationing.<BR/>http://tinyurl.com/3vohf6<BR/><BR/>Burglaries Have Surged 21 Percent<BR/>Police Put Some Blame on Economy, Boost Patrols; Overall Violence Falls<BR/>http://tinyurl.com/4vjxbv<BR/><BR/><BR/>Florida luxury home market shows signs of wear<BR/>http://tinyurl.com/3qebdtAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-2927418702007514972008-04-21T18:54:00.000+01:002008-04-21T18:54:00.000+01:00Ah, remember the days of old when senior British g...Ah, remember the days of old when senior British government representatives had the backbone to make official statements that banks were on their own on covering losses, and that anything else created moral hazard?<BR/><BR/>Oh, for the storied tales of... ...last fall(!)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-81794146356951699142008-04-21T18:38:00.000+01:002008-04-21T18:38:00.000+01:00I dont understand how these bailouts help those in...I dont understand how these bailouts help those in debt. It only helps lax banks who lended too much. It would be effective if they used that money to help people pay for their mortgages. This is only fueling the credit based economy. And it will end soon, for this money has to be paid as well.<BR/><BR/>PJAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-64432769036251008682008-04-21T18:35:00.000+01:002008-04-21T18:35:00.000+01:00The bankers win! (again)The bankers win! (again)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-16374312798866217712008-04-21T18:32:00.000+01:002008-04-21T18:32:00.000+01:00This is the last desperate act before it all caves...This is the last desperate act before it all caves in. The $100 billion is just for starters. I expect it to go up to $900 billion by the time they throw the Union jack in the ring to stop the fight with the unstoppable deflationary forces that have now descended upon Britain. I thought the Brits were more sensible, and would have let nature take it course, but as they say, the world has changed.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-31653773651687907402008-04-21T17:35:00.000+01:002008-04-21T17:35:00.000+01:00come on and take a free ride [free ride!]<A HREF="http://youtube.com/watch?v=5lKkKbsp7Tw" REL="nofollow">come on and take a free ride [free ride!]</A>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-66109577633066814992008-04-21T17:00:00.000+01:002008-04-21T17:00:00.000+01:00But but, you’ve been telling us that people across...But but, you’ve been telling us that people across the pond<BR/>are ‘savers’.. I thought it was only us Wall Mart shoppers that live beyond our means.<BR/><BR/>DOPES!<BR/><BR/>I’ve been saying all along; the impact of the Housing crash in Europe will result in blood.<BR/>Germany’s blitz crash is around the corner.<BR/><BR/>We are watching Europe self destruct, yet again.<BR/><BR/>Got Rice puffs?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-37911498803132022742008-04-21T16:26:00.000+01:002008-04-21T16:26:00.000+01:00Alistair Darling is a lying sack of shit. .... All...Alistair Darling is a lying sack of shit. .... All they will accomplish will be to debase their currency, which has dropped nearly a full percent against the crummy dollar since last night.<BR/><BR/>Wow 1% already?<BR/><BR/>Darling thinks he is so smart but it looks like a good portion of the market sees right through hisintentions. I never understod how these guys are so well compensated yet so pathetically unenlightened and conventional in their leadership roles.<BR/><BR/>Heck I could've done the same thing at a portion of his salary.Russ DoGGhttps://www.blogger.com/profile/16161611465473318748noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-31157112188298799512008-04-21T16:15:00.000+01:002008-04-21T16:15:00.000+01:00To sum it up, this is simply foul. This money is ...To sum it up, this is simply foul. This money is not coming from anywhere, it has simply been conjured into existence, i.e. inflation.<BR/><BR/>The only way the housing market will pick up is if house prices fall to the level that the market dictates, hint it is 30-50% lower than the current levels. This cannot happen unless and until the governments stop their futile efforts to prop the monster up.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-3088283544829399622008-04-21T15:50:00.000+01:002008-04-21T15:50:00.000+01:00The Britishcano economy is tanked, roasted like a ...The Britishcano economy is tanked, roasted like a hedgehog skewered on a green bamboo spit over a fire.<BR/><BR/>Why? Because the Britishcano speculator was as greedy, irresponsible, materialistic, ignorant, pompous, hoity-toity, self-righteous, as Americano.<BR/><BR/>So is the Britishcano economy toasted or what?<BR/><BR/>Will Joe-Pint ‘O Stout and Jane Haggis cash out their lorry equity now? (Haaaaa, haaaaa, haaaaa, LORRY EQUITY...)<BR/><BR/>What will happen to all those big-ass double-decker buses that drive on the wrong side of the road?<BR/><BR/>Will the Britishcano be toasted as a hedgehog skewered on a stick from head to ass sizzling nicely on a bed of red hot charcoal?<BR/><BR/>(With apologies to all the HP’ers in England)<BR/>-MammothMammothhttps://www.blogger.com/profile/15331079890390629462noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-81535504043706695872008-04-21T15:16:00.000+01:002008-04-21T15:16:00.000+01:00The trillion-dollar mortgage time bombRisks are ri...The trillion-dollar mortgage time bomb<BR/>Risks are rising that Fannie Mae and Freddie Mac may need a government bailout that could cost far more than previous rescues.<BR/>By Chris Isidore, CNNMoney.com senior writer<BR/>Last Updated: April 21, 2008: 5:46 AM EDT<BR/><BR/>NEW YORK (CNNMoney.com) -- Among the nightmares lurking around the corner for the already battered housing and credit markets would be a meltdown at mortgage financing giants Fannie Mae and Freddie Mac.<BR/><BR/>Although few are predicting an imminent need for a bailout just yet, credit rating agency Standard & Poor's recently placed an estimated price tag on this worst case scenario -- $420 billion to $1.1 trillion of taxpayer's money. <BR/><BR/>This dwarfs how much it cost to help banks during the savings and loan crisis of the late 1980's and early 1990's. That cost taxpayers about $250 billion in today's dollars.<BR/>http://money.cnn.com/2008/04/21/news/economy/fannie_freddie/?postversion=2008042103Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-82021784101169325952008-04-21T15:00:00.000+01:002008-04-21T15:00:00.000+01:00The bailout is for the bankers, not the bagholders...The bailout is for the bankers, not the bagholdersAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-8774483760425755582008-04-21T14:16:00.000+01:002008-04-21T14:16:00.000+01:00Alistair Darling is a lying sack of shit. A simila...Alistair Darling is a lying sack of shit. A similar plan in the US has done nothing to restore confidence, yet he expects it will there? All they will accomplish will be to debase their currency, which has dropped nearly a full percent against the crummy dollar since last night.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-78200312490003749862008-04-21T14:15:00.000+01:002008-04-21T14:15:00.000+01:00...A question that the article does not mentions -....<BR/>.<BR/>.<BR/><BR/><BR/>A question that the article does not mentions - how as this mortgage "collateral" valued? To model or market?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-55968852749848965042008-04-21T12:15:00.000+01:002008-04-21T12:15:00.000+01:00shameful, but not unexpected. as you put it, "righ...shameful, but not unexpected. as you put it, "right on schedule". I am glad I don't pay taxes to that government. <BR/><BR/>here is a good summary of the situation in the UK<BR/>http://tinyurl.com/4yfqc6Andrewhttps://www.blogger.com/profile/09826458064312576054noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-14700283036924351262008-04-21T11:47:00.000+01:002008-04-21T11:47:00.000+01:00The mountain is highThe valley is lowand you're co...The mountain is high<BR/>The valley is low<BR/>and you're confused on which way to go<BR/>so I've come here to give you a hand<BR/>and lead you into the promised land<BR/>so...<BR/>come on and take a free ride [free ride!]<BR/>come on and sit here by my side<BR/>come on and take a free ride<BR/>all over the country I've seen it the same<BR/>nobody's winning at this kind of game<BR/>we've got to do better it's time to begin<BR/>you know all the answers must come from within<BR/>so...<BR/>come on and take a free ride [free ride]<BR/>come on and sit here by my side<BR/>come on and take a free rideAnonymousnoreply@blogger.com