To: bruinbirdman
All of this seemed so inevitable. I remember reading a few years ago that something like 50% or more of mortgages in San Diego were ‘interest only’. How does that make any long term sense? As the economy worsens and the people living in those homes have trouble paying the interest only rent on homes, in which they have no equity, what are they going to do? I fear many will just walk away. We may have just seen the tip of the iceberg regarding defaults.
To: bruinbirdman
It might be that ‘Prevent’ may be an overly optimistic word choice on the part of the headline writer....
Indicator: CNBC stayed ‘live’ all night, foregoing its usual fare of infomercials and Suze Orman reruns....
4 posted on
03/17/2008 2:08:16 AM PDT by
Uncle Ike
(Sometimes I sets and thinks, and sometimes I jus' sets.........)
To: bruinbirdman
check out the markets in Europe...
6 posted on
03/17/2008 2:09:48 AM PDT by
durasell
(!)
To: bruinbirdman
NEW YORK -- This might have been one of Wall Streets most dismal years in a decade, but that hasnt stopped bonus checks from rising an average of 14 percent. Four of the biggest U.S. investment banks Goldman Sachs Group Inc., Morgan Stanley, Lehman Brothers Holdings Inc. and Bear Stearns Cos. will pay out about $49.6 billion in compensation this year. Of that, bonuses are traditionally estimated to represent 60 percent, or almost $30 billion. http://www.pantagraph.com/articles/2007/12/22/money/doc476cba0ee4556884828444.txt
21 posted on
03/17/2008 2:39:48 AM PDT by
Flavius
(war gives peace its security)
To: bruinbirdman
A buddy of mine works at JP Morgan. He told me that they’re positioned to be the premiere powerhouse on the block when this thing is all over with.
As an aside, I predict that this episode will wind up with the introduction of the Amero. It will take a while to get there, but the trauma will be deep enough and persistent enough to overcome concerns of the loss of sovereignty. Just my prediction- I hope I’m wrong.
22 posted on
03/17/2008 2:40:31 AM PDT by
ovrtaxt
(Member of the irate, tireless minority, keen on setting brushfires of freedom in the minds of men.)
To: bruinbirdman
So what are they going to do? Make more steel to sell? Grow a few hundred million tons of wheat? Design a car that gets 60 mpg? For that matter, open up and start refining oil fields to the tune of 20 million barrels per day?
What?
Play with the numbers.
That’s what.
34 posted on
03/17/2008 2:58:41 AM PDT by
djf
(She's filing her nails while they're draggin the lake....)
To: bruinbirdman
This is what happens when a free market is toyed with by regulators and legislation. Byzantine ponzi schemes that completely ignore proper risk-reward structure of financial management. Not pretty, not unexpected.
To: bruinbirdman
Federal Reserve steps in to prevent into financial meltdown
ftfy
55 posted on
03/17/2008 5:37:35 AM PDT by
Theophilus
(Nothing can make Americans safer than to stop aborting them.)
To: bruinbirdman
62 posted on
03/17/2008 7:10:13 AM PDT by
Tempest
(I'm a Christian. Before I am a conservative.)
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