[Pol-92064]

Trust me. There is plenty of money in the economy.

[cgbg]

Bank stocks are ultra risky.

Their accounting games—legal or not—make their books and records totally useless.

[The Louiswu]

The Big Short Redux?

[Organic Panic]

If there is a crash, this time I have cash. Hoping to get some bargains...l

[blackdog]

Banks with foreclosures ration the offloading to keep stability in the markets on pricing. I had two properties on my street in foreclosure. It took a convoluted trek of nonsense to buy them. Six months of no returned calls, hang-ups, and blow-offs.

Then on a random Thursday afternoon, I get a phone call that told me that if I could be at the closing table Monday Morning with a cashiers check, the properties were mine.

The portfolio managers at the banks have a very weird, super-measured way to get those properties off their books. It made no sense to me at all. They didn't even haggle. What I offered was what they would take on Monday morning. That was about thirty cents on the debt dollar. So a $135K mortgage balance got written off for $55K. Go figure?

[Fledermaus]

It’s the tanking of commercial real estate due to crazy libtard Dens shutting down in 2020.

I hope NYC suffers.