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The lenders are not dumb, they collect the fees now and keep them, neither are the investors buying the MBS, they collect their fees and use OPM to buy the crap. The dumb ones are the shareholders. The lenders and the ones selling the CDOs will all get bailed out, it will be S&L bailout all over...

Probably some rumor about UK and Iran, spiked crude indexs traded off that. recovering now.

I wonder if the 95% loss rate amongst traders (and I use that term loosely in this context) is coincidence or correlation? :D

He may or may not be everything everyone says, one thing that I think we can all agree on is that his writing style is unique! Where do you learn to write like that? Is english a second language? I am sincerely interested as I have never come across anyone who writes like that and would like to...

What town? I am in Boston and have been renting (a nice SHF in metro west for 1.7 X property taxes annually) for the last 2 years with the same plan having divested of all RE in 2005 and have been all over distressed properties in Sudbury, Winchester, Belmont triangle the past 3 months...

Do these plans allow you to go anywhere (ie Memorial Sloan Kettering if you get cancer or the top surgeon for some operatble disease) to get treatment? Do you need a referral from a Primary care Doc?

What were for sale signs last month are sold signs this month in my neck of the woods. I'm waiting for the numbers to post so I can see how much of a haircut was taken but I put in a bid (20% under ask) for a place that I had my eye on for 6 months and didn't get a counter, now sold.

Thanks for posting B19.

Look at the 1987 SPX chart also. Notice any similarities?

PS I am short as hell :D Can't hurt, nice one blast.

Lol everything else that comes out of the guy's mouth is wrong, don't see why this would be any different.

http://www.elitetrader.com/vb/showthread.php?s=&postid=1395322#post1395322 The bail out is really for the hedge funds and IBs that are drowning in CDO's, the sub prime buck ultimately stops at their door.

Make no mistake, it isn't the sub prime borrower who he is keen on bailing out, it is the CDO writers who are on the hook. The same ones who will reward his campaign coffers handsomely if he gets them off. The fact that the legislation will help some poor schmucks from losing their home for now...

I think there are 2 scenarios that could play out in the next year or two. One is that things get really bad and massive foreclosures happen, hedge funds blow up, market tanks, all financials get hit like never before etc The other scenario is that there is a massive S&L type bail out (kind...

Yes I saw it , guy was practically begging the Fed to lower rates. That won't happen but also saw the report on bloomie that Sen Dodd was talking about a possible gov bail out of subprime borrowers (and ergo lenders) http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aX5_ORASPbvY I...

Happens to the best of them, this down turn should have some legs to it (look at the Yen looks like like it wants to trade through resistance and the arguement that all the credit problems are contained in the sub prime area is starting to lose some credibility) and I am looking for a lower low...

See my qualifiers JJ, I edited my post. You know if I was coming to the markets to try and make a living and had $100K I was willing to seed the business with $300 for 12-24 month + $5K would not be such bad tuition if it kept me from blowing out or taking a significant loss like most...

I was in the room for a week and it is clear to me from the way they trade and their track record (very conservative) that if a newbie started trying to day trade they could do a lot worse than to try out pure tick for $300 a month. We all know about traders never making it, blowing out...

Boy does Greenspan like to hear the sound of his own voice. One thing that he said that was very interesting was that the Fed really doesn't know what is going on in the financial system because so much of what goes on is unrecorded and arcane and OTC. So for all the current Fed spouts about...

Good call Cal, thanks for putting it on my radar.