Posted on 08/28/2007 6:45:15 AM PDT by Hydroshock
Edited on 08/28/2007 6:51:07 AM PDT by Admin Moderator. [history]
1. Countrywide Crushed Again 2. The Top Rocket Stocks for This Week 3. Dell Stumbles at Wal-Mart 4. Microsoft Still Cleaning Up With Windows 5. Weekend Reading
Options House TD AMERITRADE
E*TRADE FINANCIAL Fidelity Investments
Fisher Investments Global Forex
Waiting to see big banks piling into the mortgage business a la Bank of America (BAC - Cramer's Take - Stockpickr - Rating)? Don't hold your breath.
BofA surprised Wall Street last week by making a $2 billion bet on struggling Countrywide (CFC - Cramer's Take - Stockpickr - Rating). The news, announced after the close last Wednesday, gave Countrywide's sinking stock a one-day reprieve.
The linkup also boosted smaller stand-alone lenders such as Thornburg Mortgage (TMA - Cramer's Take - Stockpickr - Rating) and IndyMac (IMB - Cramer's Take - Stockpickr - Rating), as investors wagered that commercial banks such as Wells Fargo (WFC - Cramer's Take - Stockpickr - Rating) and Wachovia (WB - Cramer's Take - Stockpickr - Rating) might make copycat moves.
But since last Thursday's mortgage industry relief rally, the shares of the big lending companies have resumed their swoon. The reason? The U.S. housing industry keeps getting sicker -- and observers are starting to appreciate what favorable terms BofA chief Ken Lewis wrung out of struggling Countrywide.
"It was a layup, basically," Mark Batty, a financial services analyst at PNC Wealth Management in Pittsburgh, says of the terms BofA got in its deal with Countrywide. "A lot of investors would have an interest in that type of investment opportunity."
I love the keyword list.
That is someone else’s doing. Same with the picture. Key word spam
Between the keywords and the added images of doom that are so appropriate for your posts, I have to admit that I look forward to your articles just so I can start my day with a good laugh.
With so much destruction coming to our economy someday, if we'll just be patient, I wonder how it is you manage to get out of bed in the morning.
That pic looks like a ‘fizer-upper’—that would be perfect for a quick ‘flip’. I bet you could low-ball them for about 700K in California for that one.
Only management can add a picture to your thread. Don't you get it? Management.
15 years ago I saw a house like that off of Highway 101 in California — someone had painted on it “For Sale, $300,000”.
LOL. I still don’t get why the Moderators are in the “pump up the market” school in our little pool here at Free Republic.
Your House Is Worth Less? Good . . .
Excerpt:
The last time we had this feeling of financial vertigo was when the Internet bubble popped seven years ago. But this is much worse: the value of our homes is collapsing. For generations, rising home prices have been central to our general sense of well-being.
Home ownership is over rated.
If I knew who was adding the keyword “vulturegram” I would thank them. I have that keyword search bookmarked and check it for economic news once or twice a day.
Laughing at clowns is not the same as wanting to “pump up the market”.
Maybe they’re former subprime loan brokers with a lot of time on their hands.
This slow motion train wreck is just starting. And the MSM is still being run by the financial sector: Wall Street, garbage bond traders, banks, mortgage lenders, credit card companies. Profiteers killed the goose.
Is there something in the nature of conservatism that we are all supposed to be bulls? We are rocking! We are pumped! This is going to be a good freaking day to make some money!
It would be like a brokerage sales floor meeting without the bears.
I have noticed it is in the nature of liberals (and certain Freepers) to constantly whine. Maybe their lives are miserable and they want everyone else to be miserable too? I know that if I felt the way these guys do, it would be a constant struggle not to sit in a hot tub and open an artery.
:P
Oh, my. People heavily invested in short term bonds must be miserable!
Why? Short term bond prices are rising.
It’s just some people heavily invested in the mortgage market. A return to traditional lending standards will put an end to their gravy train, and crater bubble markets like California. They feel better if they pretend the business cycle won’t apply to them.
Dow
Change: -140.65 (-1.05%)
I think a nice, small, guaranteed profit in this environment is a pretty good bet.
Oh, wait, I’m supposed to be miserable. Boo hoo.
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