tag:blogger.com,1999:blog-18675105.post7743600526500985182..comments2023-12-30T10:06:37.450+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: It was cute watching all the little lenders go belly-up. Now watch the big boys like HSBC, WaMu and Wells Fargo go kerplunk, and that won't be cute.bloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger38125tag:blogger.com,1999:blog-18675105.post-52602152456472455212008-01-04T18:33:00.000+00:002008-01-04T18:33:00.000+00:00"HSBC is also the leading bank of the internationa..."HSBC is also the leading bank of the international drug trade being run out of London."<BR/><BR/>Yes, it is. The patriot act forced U.S. banks to adopt very strict anti-money laundering and fraud monitoring.<BR/>The terrorists and drug smugglers are now washing the majority of their money through English, Dubai, and Singapore banks.<BR/><BR/>I was reading this great article recently about how Saudis and other jihadists were flipping real estate in the UK, and using the profits to fund international terrorism groups like Hezbollah/Hamas/Al-Queda and the islamic takeover of Europe.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-52521738056977978202008-01-03T17:32:00.000+00:002008-01-03T17:32:00.000+00:00How did you short HSBC? Only the North American d...How did you short HSBC? Only the North American division of the bank holding company is traded in NY. HSBC has billions not to mention tacit Chinese backing. I doubt it will drop any more than the US bank index.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-16201944954285791042008-01-03T17:09:00.000+00:002008-01-03T17:09:00.000+00:00Keith said:I stand by kerplunk:Kerplunk has severa...Keith said:<BR/><BR/>I stand by kerplunk:<BR/><BR/>Kerplunk has several meanings:<BR/><BR/>Kerplunk, an onomatopoeia to represent the sound of something heavy falling down or a rock splashing in deep water<BR/><BR/><BR/>Wouldn't that be the same sound as a large turd hitting the water in the toilet bowl?<BR/><BR/>Smug BastardAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-69578861888206685122008-01-03T13:21:00.000+00:002008-01-03T13:21:00.000+00:00HSBC is a massive company. Check size of banks bef...HSBC is a massive company. Check size of banks before shorting. my gut says WAMU is on the edge.<BR/><BR/>January 03, 2008 3:11 AM<BR/><BR/>HSBC is also the leading bank of the international drug trade being run out of London.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-26562386770735744722008-01-03T09:46:00.000+00:002008-01-03T09:46:00.000+00:00America is basically insolvent as we speak. That ...America is basically insolvent as we speak. That much is clear and the only way to sort out the mess is to have a deep recession so that greedy and inefficient banks and businesses fall by the wayside or get taken over. Any attempt to prevent this from happening will only prolong the insolvency. If you don't believe me just ask the Japanese.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-36542087057299901232008-01-03T08:10:00.000+00:002008-01-03T08:10:00.000+00:00Is Well Fargo coming clean in sub-prime messhttp:/...Is Well Fargo coming clean in sub-prime mess<BR/><BR/>http://online.wsj.com/article/<BR/>SB119871715330351693.html?mod=<BR/>googlenews_wsj<BR/><BR/>the housing downturn is starting to tarnish even Wells Fargo's sterling reputation for conservative loan underwriting. And, the bank does have subprime exposure, although it likes to downplay the risks.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-9242143998562987582008-01-03T05:42:00.000+00:002008-01-03T05:42:00.000+00:00RE: What were they thinking?They were thinking lik...<B>RE: <I>What were they thinking?</I><BR/><BR/>They were thinking like Las Vegas gambling addicts.<BR/><BR/>"The more you bet, the more you get."<BR/><BR/>"Double up and you catch up."<BR/><BR/>The problem is that the US casino economy is now played out and all bets are off.<BR/><BR/>V.L.</B>Paige Turnerhttps://www.blogger.com/profile/04447482013525527157noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-82641704117615440102008-01-03T05:35:00.000+00:002008-01-03T05:35:00.000+00:00Iceman says,Look at the banks that are charging we...Iceman says,<BR/><BR/>Look at the banks that are charging well over 2 points for a standard 30 year fixed loan. I suspect these banks are in deep trouble ex... WELLS FARGO, PROVIDENT BANK, INDYMAC BANK, etc.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-74055114443875962672008-01-03T05:12:00.000+00:002008-01-03T05:12:00.000+00:00Keith, great blog. Regarding the shorts, do you th...Keith, great blog. <BR/><BR/>Regarding the shorts, do you think WaMu really can drop that much further at this point? WF looks like it has a tumble in its future I agree 100%. <BR/><BR/>You are not hurting anyone directly by shorting these stocks. It is simply using the writing on the wall to grow your portfolio and put yourself in a better position. Plain and simple.D Gordonhttps://www.blogger.com/profile/14262598464932230834noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-41776983174383023942008-01-03T04:56:00.000+00:002008-01-03T04:56:00.000+00:00i think wells fargo is toast. probably city too.i think wells fargo is toast. probably city too.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-8439050701615999302008-01-03T04:36:00.000+00:002008-01-03T04:36:00.000+00:00I have applied for a new personal license plate he...I have applied for a new personal license plate here in Silicon Valley, California, home of stock backdating and the $800K 45 year old tract dump fixer-upper house with 4 mortgages on it, about to be foreclosed upon... (taxes are RIGHT around the corner, as well as those holiday shopping sprees on the multiple high-interest credit cards). <BR/><BR/>My new plate to read:<BR/><BR/>"DIE U PIG"<BR/><BR/>I hope all you real estate 'professionals' and homedebtors get the message... Honk if you see me.<BR/><BR/>Go F*ck yourself.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-37703028455605589332008-01-03T04:10:00.000+00:002008-01-03T04:10:00.000+00:00BTW I always disclose if I have a financial intere...BTW I always disclose if I have a financial interest in a stock I mention<BR/><BR/>Does anyone know if bloggers have to do that legally?bloggerhttps://www.blogger.com/profile/06585266242070350399noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-42016064891445355532008-01-03T04:08:00.000+00:002008-01-03T04:08:00.000+00:00we should all take our money out of the banks that...we should all take our money out of the banks that caused this mess and put it into banks that stayed away from the ponzi schemeAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-41399305586688627722008-01-03T04:07:00.000+00:002008-01-03T04:07:00.000+00:00BTW, 8 hour jetlag is brutalTry doing those 12 hou...<B>BTW, 8 hour jetlag is brutal</B><BR/><BR/>Try doing those 12 hour asian flights every month, but as you said,<BR/><BR/>"It's not greed. It's survival."Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-2493556554854032692008-01-03T03:55:00.000+00:002008-01-03T03:55:00.000+00:00eric in vegas said... I took my cash out of wells ...<I>eric in vegas said... <BR/>I took my cash out of wells a long time ago.</I><BR/><BR/>DITTO<BR/><BR/>I told them it was because they were the nations number one sub prime lender before it was an issue.Devestmenthttps://www.blogger.com/profile/13704339847524381868noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-6521832351986278112008-01-03T03:41:00.000+00:002008-01-03T03:41:00.000+00:00"I still think youre a British agent set up to spr..."I still think youre a British agent set up to spread fear and pessimism as the British created financial crash picks up more and more momentum.<BR/><BR/>You'd also like to convince your followers to loath the US Government. It's an end game strategy by the City of London so they can come out on top of the rubble of a crumbling system."<BR/><BR/>Huzzah! Huzzah!<BR/><BR/>Not to worry. The Brits are just as F-ed as we are on this side of the pond.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-78032905382618975372008-01-03T03:34:00.000+00:002008-01-03T03:34:00.000+00:00A friend has a Wells Fargo loan...refinanced it ou...<I>A friend has a Wells Fargo loan...<BR/><BR/>refinanced it out of an adjustable 1 1/2 years ago...was so proud she was with a reputable A1 bank<BR/><BR/>Last month, she said her mortgage went down!? she insists it's fixed.<BR/><BR/>guess its "fixed" for 1 to 2 years.</I><BR/><BR/>What could have happened is that her insurance rates went down. If she is paying her premiums along with her payment to the bank, her overall "mortgage" (as she put it) would have decreased. It happened to me this year and I have a fixed rate mortgage....it wasn't much to brag about, but I could always use the extra $15.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-24558489810115764272008-01-03T03:11:00.000+00:002008-01-03T03:11:00.000+00:00HSBC is a massive company. Check size of banks be...HSBC is a massive company. Check size of banks before shorting. my gut says WAMU is on the edge.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-54779397228232358292008-01-03T03:10:00.000+00:002008-01-03T03:10:00.000+00:00@ dopes>the FTC would freeze all my personal >and ...@ dopes<BR/><BR/>>the FTC would freeze all my personal <BR/>>and business assets, raid my home and business…<BR/><BR/>Not to mention their new habit of seizing all of the cash you have on hand. So, if you keep a pile of cash in the house as an emergency fund, they take it all until you can prove where all of it came from. This has been a big factor in my decision not to keep a pile of cash in my house.<BR/><BR/>@ keith<BR/><BR/>> BTW, 8 hour jetlag is brutal<BR/><BR/>Yes, but it doesn’t help when you have to drag your suitcase full of gold with you through the airport.<BR/><BR/>@ keith<BR/><BR/>After doing research, I’ve noticed that “frog walk” is a valid term. I guess the difference, according to Wiki, is that a perp walk is when they are dragged in front of the media, but walk under their own power; whereas a frog walk is when they are actually dragged in front of the media against their will.<BR/><BR/>http://en.wikipedia.org/wiki/Perp_walkMalcolmhttps://www.blogger.com/profile/14203165125962395123noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-56112964750463463422008-01-03T02:57:00.000+00:002008-01-03T02:57:00.000+00:00Good stuff keefer. I wish it were so, but nobody a...Good stuff keefer. I wish it were so, but nobody audits banks anymore.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-57109557510152436022008-01-03T02:51:00.000+00:002008-01-03T02:51:00.000+00:00BTW, 8 hour jetlag is brutalBTW, 8 hour jetlag is brutalbloggerhttps://www.blogger.com/profile/06585266242070350399noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-35640715446506011292008-01-03T02:50:00.000+00:002008-01-03T02:50:00.000+00:00I and most HP'ers are desperately trying to protec...I and most HP'ers are desperately trying to protect our capital with the dollar tanking and stocks aren't going up. That means gold, commodities and limited shorting of the corrupt REIC via put options loudly and publicly.<BR/><BR/>It's not greed. It's survival.<BR/><BR/>Might want to look into it...bloggerhttps://www.blogger.com/profile/06585266242070350399noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-85684224969884622912008-01-03T02:49:00.000+00:002008-01-03T02:49:00.000+00:00A friend has a Wells Fargo loan...refinanced it ou...A friend has a Wells Fargo loan...<BR/><BR/>refinanced it out of an adjustable 1 1/2 years ago...was so proud she was with a reputable A1 bank<BR/><BR/>Last month, she said her mortgage went down!? she insists it's fixed. <BR/><BR/>guess its "fixed" for 1 to 2 years.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-89710661966389984872008-01-03T02:47:00.000+00:002008-01-03T02:47:00.000+00:00Mark in San Diego said... >>>What really floored m...Mark in San Diego said... <BR/>>>>What really floored me today were the Fed Meeting Minutes -"they were surprised by the credit problems!!<BR/>January 03, 2008 1:34 AM<BR/>===========================<BR/>The FEDs eye's were WIDE shut!<BR/><BR/>They knew/know how bad it is... What I don't understand is why they continue to play the dumbfounded game, when they should be taking control of this situation!Princess Mononokehttps://www.blogger.com/profile/11062180421571379213noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-36915584454330422712008-01-03T02:46:00.000+00:002008-01-03T02:46:00.000+00:00Which pisses me off because if I, as a small busin...Which pisses me off because if I, as a small business owner, had 1% the amount of FTC and AG complaints against me as these companies have against them, the FTC would freeze all my personal and business assets, raid my home and business, arrest me, and it'd be game over. It happens all the time to small business owners who get a fraction of the amount of complaints as these bozos have.<BR/><BR/>But I'm not a big crooked campaign contributor so oh well.<BR/><BR/>January 03, 2008 2:04 AM<BR/><BR/>Frank, go write another book so you can be twice as rich at age 60 as you were at age 30.<BR/><BR/>Youre a prime example of the stupidity of corporate America.<BR/><BR/>And for christ sake quit your whining.Anonymousnoreply@blogger.com