tag:blogger.com,1999:blog-18675105.post7191898888485180433..comments2023-12-30T10:06:37.450+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: "The level of terror that must exist in the boardrooms of the banks and regulators that peered into Pandora's box this summer must be extreme."bloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-18675105.post-79775133616307564652007-10-26T16:39:00.000+01:002007-10-26T16:39:00.000+01:00Had a long boozy conversation on Sunday with a mid...Had a long boozy conversation on Sunday with a mid-level investment bank trader. He echoed ALL the bear points - CDOs, SIVs, Paulson, Bernanke, housing bubbles, crazy credit, and on and on and on - and reckons a twenty year long party is coming to an end. There's a phrase doing the rounds relating to the credit crunch - "a tzunami wrapped in an earthquake, with a sprinkling of bubonic plague". And some very nasty news is about to be announced by an organization that recently swore it had fessed up to all its MBS related losses. It's only just begun.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-78022931946526522742007-10-25T03:46:00.000+01:002007-10-25T03:46:00.000+01:00It's all a sign from above. Fire, floods, disaste...It's all a sign from above. Fire, floods, disaster from all angles. We are living in the end times my friends.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-12898744103698587542007-10-24T23:56:00.000+01:002007-10-24T23:56:00.000+01:00It's obvious they're going the Japanese route of a...It's obvious they're going the Japanese route of a slow deflation instead of a quick crash. The bad debt will be on the books for another 10 years. Each year, they will write off a piece of it against earnings. I personally think it is better than the collapse of the financial system where people won't be able to get food, water or medicine.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-85403758399686420452007-10-24T19:54:00.000+01:002007-10-24T19:54:00.000+01:00Buy SKF - ultra short financials fund! Financial ...Buy SKF - ultra short financials fund! Financial go down - SKF goes up x2 !!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-84533077793513775012007-10-24T18:32:00.000+01:002007-10-24T18:32:00.000+01:00I think Keith is Right. These banks are trying to ...I think Keith is Right. These banks are trying to cover their mistakes.<BR/><BR/>It's like an old kid comedy sitcom. the whole episode the kid is trying to keep the parents from finding out the truth. But in the end the cover up never works. The funny part is trying to see what skeem the kid can come with.<BR/><BR/>But this aint no comedy and it ain't funny anymoreAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-25079265445634282332007-10-24T18:15:00.000+01:002007-10-24T18:15:00.000+01:00I remember back in the 80's in the Oil Patch RE cr...I remember back in the 80's in the Oil Patch RE crash (in Texas,Lousy-ana, Miss & Alabama). <BR/><BR/>A Bank in Baton Rouge (Louisiana National Bank?) actually created another Bank to transfer all their bad Mortgages to, in order to write them off.<BR/><BR/>New twist on an old problem!<BR/><BR/>October 24, 2007 5:39 PM<BR/><BR/><BR/>Youre not supposed to remember this stuff, let alone squeel on us in public. This is all very high finance stuff created by Nobel winning economists and wall street bankers.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-22592550943729545462007-10-24T18:13:00.000+01:002007-10-24T18:13:00.000+01:00OT:So you think your precious Metals you crave as...OT:<BR/><BR/>So you think your precious Metals you crave as an Inflation Hedge is actually there...you might wont to look twice..<BR/><BR/>Thank Christ I hold Physical, If i can not touch it...it does not exist.<BR/><BR/>http://www.24hgold.com/24hpmdata/articles/241020070190169.htmBillhttps://www.blogger.com/profile/06623291271325261181noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-44727105712015007142007-10-24T18:06:00.000+01:002007-10-24T18:06:00.000+01:00WOW, this whole financial crash is of Biblical pro...WOW, this whole financial crash is of Biblical proportions!<BR/><BR/>Oh, wait - the Bible DOES mention this - 2k years ago!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-48341543925631702712007-10-24T17:39:00.000+01:002007-10-24T17:39:00.000+01:00I remember back in the 80's in the Oil Patch RE cr...I remember back in the 80's in the Oil Patch RE crash (in Texas,Lousy-ana, Miss & Alabama). <BR/><BR/> A Bank in Baton Rouge (Louisiana National Bank?) actually created another Bank to transfer all their bad Mortgages to, in order to write them off.<BR/><BR/>New twist on an old problem!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-56762957752673197292007-10-24T17:05:00.000+01:002007-10-24T17:05:00.000+01:00I think you misunderstand the purpose of the MLEC....I think you misunderstand the purpose of the MLEC. It is not to hide the bad loan products, but to sell at top-dollar the "good" Alt-A paper in order to raise cash to cover the bad loans and keep them off the bank balance sheet (and meet reserve requrements). The alternative is to sell the "good" loans on the open market which will not buy anything above a deep deep discount, regardless of the quality. Being a free marketeer I am amused at the banks attempts to jump start or prime the liquidity pump. I don't think it will do much in the medium to long term, but it will give them breathing room in the short term. The bailout talk is a bit of a stretch. Federal money would only be at risk in an extreme circumstance. The most likely risk transference is to the FDIC in the unlikely event that one of these banks actually fails.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-73219615406708652152007-10-24T14:47:00.000+01:002007-10-24T14:47:00.000+01:00And the truth shall set you free.And the truth shall set you free.Anonymousnoreply@blogger.com