SunTzu
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He who panics first panics best...so Seattle please start panic and melt down
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Yeah, it would be great since in a few years my job probably will end up there so mind as well get a head start....
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I've read Taleb's first book, waiting for Black Swan soft cover to come out... The fact that we have to resort to statistics just means that there are lots of stuff we don't know about a system so we use a large data pool to give us an average id…
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"...Finally, upping loan limits for Fannie and Freddie will help only borrowers in the best financial conditions. In addition to limits on loan size, the GSEs have strict requirements for income verification and down payments that most subprime borr…
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Guess that downgrade of mbac finally got those foreign buyers of toxic waste to realize that they are holding crap. The markets in general will enter a self-reinforcing downward spiral where today's sell-off will create a US sell-off tomorrow and a…
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therefore we must gut'em.... http://www.reuters.com/article/bondsNew ... 7120080110
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Big real estate bubble bursts. Government addresses bad assets by forcing good banks to acquire bad banks. Sounds reasonable. How'd that work for Japan? Ironic. The FED avoided at all costs to burst any sort of financial bubble because it …
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WaMu still have a few tricks in the bag before it goes, not that it's impossible for it to fail, but it could still layoff a few thousands more of people and sell a few branches. Unlike CFC it can borrow directly from the Fed which CFC has to rely …
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A heavily indebted gov't isn't likely to fund social safety net programs, in fact, Social Security will face gutting sometime soon. The Repukes won't be happy until all the vestiges of New Deal are gone, but by then the the US will have been sold o…
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Mr. Paulson is a brilliant man, you see, he used to be a football player at Dartmouth........so his ideas are all very original.
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http://www.haloscan.com/comments/calcul ... 987720303/ A former FDIC employee sent these comments out today. I try to place value in comments from people like this who actually worked to clean up the S&L Bank crisis we felt in 1980s Texas. …
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http://wallstreetexaminer.com/blogs/duc ... 9#more-129 "How do you 'know' the NPV will be higher for the loan modification option when you can't calculate the NPVs to begin with? How does that stand up in court exactly?"
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http://www.bloomberg.com/apps/news?pid= ... refer=home One challenge will be to craft a deal minimizing lawsuits from investors in bonds backed by the mortgages being rewritten, analysts said. The longer that lower rates are extended, the more r…
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I would propose a solution like an Ebay for national foreclosed home bidding site instead of having gov't and industry run this crap of a bailout. If a house goes into foreclosure, the house is immediately turned over to a semi-private organizati…
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rose-colored-coolaid wrote: However, citizens (by enlarge) assumed they could trust reports coming out of the CIA, and the government at large. People assumed a new war would go as 'wonderfully' as the last Iraq war. People assumed that the fe…
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Slightly off topic but.... All these plans are dilatory tactics whether it's the super-SIV or freeze ARM. These are political tactics to make sure the pain does not start next year while you know who is still in office. Call me a conspiracy th…
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IMO, GS is only good for shorting. It claims it doesn't have any losses from subprime which is balony. Bloomberg reported that GS has more Level 3 assets on its books than either Citi or Merrill. GS just wouldn't come clean because of its purpo…
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Nice job DJO ! The picture is so beautiful it's the Mona Lisa of Seattle RE.
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I'm not in the banking nor mortgage biz so I'm only speaking off top of my head, I'm sure there are many more qualified experts. But I would say it depends on how the bank made the mortgage loan in the first place. For a lot of banks having a ho…
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By forgiving any portion of the loan the banks would be indirectly lowering the value of houses. Say someone bought a 650K house with no down payment and if the bank forgive 250K of that loan because the owner can only pay 400K, then in effect the …
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"Julie Tunnell remembers standing in her debris-strewn driveway when the tall man in blue jeans approached. Her northern San Diego tudor-style home had been incinerated a week earlier in the largest wildfire in California history. The blaze in Octob…
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Countrywide to Refinance Up to $16 Billion of Loans http://www.bloomberg.com/apps/news?pid= ... refer=home
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The future of subprime lending
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moosejaw wrote: Whats amazing is with the prognostic abilities of so many on this site, that they could not predict the huge upswing in the market starting in 2000-2001. You guys should all be multi-millionaires by now. I could tell you th…
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deejayoh wrote: Alan wrote: The flip side to this is that your 100% financed loan also lost 7% of its debt load. Its a wash if your were smart/stupid enough to get into that situation. that's not true, unless you are getting paid in Eur…
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The Horton development are townhouses ranging from 440K to 660K plus $150 HOA (you can find the info on Horton website select WA and Seattle in drop down boxes and also RedFin). Since they're townhomes, their prices are in line with other condo/tow…
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The ideal comparison would be CNN to actual value vs. Case-Shiller to actual value of a given city and see which method is closer to actual value (ie reality). But arguments could always be made on the way the actual value is collected or calc…
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After "Bendover for wall street" Bernanke's ease yesterday and House's approval of FHA, now we get more bail outs.... Fannie Mae, Freddie Mac Regulator Relaxes Limits
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Not to tout my own horn but I did write this.... "SunTzu said, on September 5th, 2007 at 2:51 pm My take is that the gov't will implicitly allow inflation to creep up. While the FED will continue its "inflation" fighting stance, but in re…
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This market is all about pschology not about fundamentals..... There has been signs of slow down in RE in Seattle, now look for entrenched sellers holding firm to their prices and jumbo loans coming back...... Inflation a la Fed....