GSE's business model

Bowgett

Bowgett

1. First rob the bond and stock holders, lend to the poor -- get the bonus.

2. Then rob the taxpayers and foreclose the poor -- get the bonus

3. Then sell more equities and bonds and rob more rich ppl -- get the bonus

4. Finally, get complete govt bailout, completely screw everyone -- retire!

I think we're in between #2 and #3.
 
fre makes citi and mer look like angels.

citi lengthens the amount of time for a NPA to actually be considered a NPA before being officially 'written down' on their books. (from 120-180 days on their last quarterly)

mer sells off their debt at a highlyyy reduced price, provides the financing for the buyer, and then can still collect further write-downs on the debt just to get that debt off their books. (debt sell-off to Lone-Star)

i am interested to see what's next among the institutions...
 
Quote from JOEY O:

fre makes citi and mer look like angels.

citi lengthens the amount of time for a NPA to actually be considered a NPA before being officially 'written down' on their books. (from 120-180 days on their last quarterly)
...
More...

Bet they increase the 180 days to 240 days in the next quarter!!
 
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