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Science Forum Index » Energy - Hydrogen Forum » Enter 2008: The System Breaks
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| Curly Surmudgeon |
 Posted: Tue Jan 15, 2008 6:40 pm |
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On Tue, 15 Jan 2008 13:20:30 -0600, Lavelock wrote:
Quote:
knews4u2chew@yahoo.com> wrote in message
news:bab347d6-8c01-427c-8e4b-1b72b8d32df0@n22g2000prh.googlegroups.com...
http://www.breitbart.com/article.php?id=080115165452.ezc5cxj8&show_article=1
If they are so "solvent" why do they need to extort money from foreign
investors?
When the books are open on these "banks" it will make Enron look like
a petty crime.
But their real crimes, like Enron, will never see the light of day.
That was the point of the article. Ok, they made 3.6 billion for 2007. If
you are expecting profits or have reserves you don't "borrow" 14 billion
dollars and cut payments to stockholders 41% right after writing off 17
billion in losses. This is a statment of future massive losses. They are
getting cash for the next round. The home loan meltdown is just starting.
Citi is getting ready for the next hit.
Get the point they are down 31 billion dollars. The housing market is not
turning around anytime soon. There is on light at the end of the tunnel.
They are in duck and cover mode.
Don't concern yourself with the denyers here, we get the drift.
-- Regards, Curly
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| Curly Surmudgeon |
| Posted: Tue Jan 15, 2008 6:44 pm |
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On Tue, 15 Jan 2008 10:46:00 -0800, P. Maffia wrote:
Quote: "AZ Nomad" <aznomad.2@PremoveOBthisOX.COM> wrote in message
news:slrnfopv95.f11.aznomad.2@ip70-176-155-130.ph.ph.cox.net...
On Tue, 15 Jan 2008 10:23:32 -0800, P. Maffia <pmaffia@centurytel.net
wrote:
If you only knew how to read.
backwards ass post didn't you only If
Since I have not mastered the language you are using, would you mind
translating your posted gibberish?
Gads, you're dumb. Maybe you'll understand this one:
Will Countrywide Sink Bank of America? Monday January 14, 11:35 am ET
By Andrew Jeffery
The four billion dollar question is whether Bank of America (BAC) got the
deal of the century by picking up the struggling lender at a fraction of
its previous value, or should the largest depository in the country get
long some Aspirin in advance of the biggest headache in recent financial
history.
This weekend’s WSJ shed some light into the particulars of the deal, but
ultimately the question becomes whether the long term value of
Countrywide’s mortgage franchise will outweigh the near term difficulties
B of A just bought on the ‘cheap.’
Hoofy and Boo both have compelling arguments in this case, so it is no
wonder views on The Street and in the 'Ville are wide ranging as to the
wisdom and motivations of the takeover/bailout/forced sale.
Many view the move as opportunistic and contrarian. Evidence a savvy Ken
Lewis making a bold call that the mortgage market is approaching a bottom
and mortgage-related assets already offer attractive values. Others,
however, question whether B of A may have been forced to bail out its
troubled partner amid mounting writedowns and pending litigation and is
now faced with the daunting task of cleaning up the golden child’s mess.
Despite the immediate troubles Countrywide (and now BofA) faces, Hoofy’s
camp has firepower in its corner. Countrywide is the biggest independent
mortgage lender in the country and its vast network of mortgage and
banking services will increase the scope of Bank of America's product
offerings and national presence.
A successful merging of Countrywide’s industry-leading mortgage platform
will make B of A the largest mortgage lender in the country. If B of A is
able to stabilize the situation, its low cost of funds will help increase
the profitability of Countrywide’s once-venerable mortgage business.
Many analysts point to Countrywide’s servicing platform as a source of
revenue and loan-term value. At the time of origination, a value is placed
on the rights to collect payments over the life of the loan. As each
payment is made, a servicer takes a fee for its efforts, while the owner
of the loan keeps the principal and interest. The longer the loan
survives, the more a servicer makes for that small initial investment for
the rights to collect payments. Since the harder it is for a borrower to
refinance the longer the loan lives, a tight mortgage market makes the
servicing business more profitable.
But despite these positives, Boo will give his bovine brother a run for
his money by the time this one is fully hashed out.
In the understatement of the year, Bank of America inherits a giant mess.
The Journal’s weekend piece states that of Countrywide’s nearly $80
billion loan portfolio held for investment, three-quarters is either
second lien home equity or Pay-Option ARM paper. Second liens are second
in line to grab quickly evaporating equity, and although Option ARMs stand
in the first lien position, the vast majority of borrowers are making only
the minimum payments and watching their loan-to-value ratios rise with a
painful combination of negative amortization (see #5) and falling home
prices. Many believe Option ARMs are the next subprime and with a sizeable
percentage of the loans backed by homes in California’s
foreclosure-ridden Central Valley, it’s a hard viewpoint to argue.
On top of this, Countrywide is currently battling of deluge of lawsuits
and although B of A may be able to expedite the cleansing of the bad
apples and pacifying regulators, there will be irreparable harm done to
the value of the Countrywide brand.
Countrywide faces significant liquidity challenges, and while Bank of
America should be able to step in with its sheer size, B of A may have a
harder time fixing the machinery of the giant loan machine Mozilo built
during a time of unprecedented profitability in the mortgage business.
Mortgage origination is the ultimate scale business, with increasing
returns to each mortgage written as the fixed costs required to process
the paperwork are spread out over an ever-larger world of loans.
Countrywide used superior technology and enormity to drive down costs and
simply out-price the competition. It is unclear how the impending
regulatory crackdown on mortgage brokers coupled with Countrywide’s
diminished size will effect its ability to set the bar on loan pricing and
remain competitive.
Finally, Boo could argue the fundamental assumption that servicing is more
valuable during tough times may be proven false. Booming home values and
good economic times make loan servicing an easy business. But servicers
are some of the most poorly run companies in the country with archaic and
inefficient processes, atrocious employee retention and incentives which
are not always aligned with their clients or borrowers.
With proposed loan modifications rules under The New Hope Alliance,
servicers will be forced to increase staffing and change procedures,
making an already messy business more expensive and harder to keep in the
green. Industry specialists often cite one of the top three reasons for
delinquency as “incorrect borrower phone number.” That the government is
relying on this group to bail out the industry and right the economic ship
is somewhat troublesome.
Ultimately, time may be the true arbiter of the success or failure of Bank
of America’s bet. Troubles ahead may soon become troubles behind and
Lewis may be proven a crafty bottom-fisher, but if the real estate and
mortgage markets continue their slide and begin to drag prime borrowers
into the subprime slime, Bank of America may find out just how dangerous
averaging into a weak stock can be.
http://biz.yahoo.com/minyanville/080114/20080114cfcsink_id.html?.v=1
-- Regards, Curly
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| Guest |
| Posted: Wed Jan 16, 2008 10:55 am |
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On Jan 14, 11:50 am, BradGuth <bradg...@gmail.com> wrote:
Quote: On Jan 14, 1:16 am, knews4u2c...@yahoo.com wrote:
On Jan 11, 6:19 pm, BradGuth <bradg...@gmail.com> wrote:
On Jan 11, 2:00 pm, knews4u2c...@yahoo.com wrote:
As the cracks in the damn get bigger and bigger.
How long can the "plunge protection team" keep their fingers in the
hole?http://biz.yahoo.com/ap/080111/wall_street.html?.v=40
As long as our hard earned loot holds out.
- Brad Guth
"Tsunami."http://www.youtube.com/watch?v=I-16u9x3tfE
That's mostly because of our moon, and I can fix that if given the
green light.
BTW, as Americans we apparently don't care about folks that can't swim
faster than our oceans are rising, including those of our own kind.
Haven't you noticed, that our rich and the powerful are not among
those of us bitching about high water or the cost of energy.
- Brad Guth
And the collapse continues...
http://www.iht.com/articles/2008/01/15/business/citi.php
"Citigroup needs $20 to $30 billion" over the next year, said
Christopher Whalen, the managing partner of Institutional Risk
Analytics. |
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| Guest |
| Posted: Wed Jan 16, 2008 11:50 am |
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On Jan 16, 12:55 pm, knews4u2c...@yahoo.com wrote:
Quote: On Jan 14, 11:50 am, BradGuth <bradg...@gmail.com> wrote:
On Jan 14, 1:16 am, knews4u2c...@yahoo.com wrote:
On Jan 11, 6:19 pm, BradGuth <bradg...@gmail.com> wrote:
On Jan 11, 2:00 pm, knews4u2c...@yahoo.com wrote:
As the cracks in the damn get bigger and bigger.
How long can the "plunge protection team" keep their fingers in the
hole?http://biz.yahoo.com/ap/080111/wall_street.html?.v=40
As long as our hard earned loot holds out.
- Brad Guth
"Tsunami."http://www.youtube.com/watch?v=I-16u9x3tfE
That's mostly because of our moon, and I can fix that if given the
green light.
BTW, as Americans we apparently don't care about folks that can't swim
faster than our oceans are rising, including those of our own kind.
Haven't you noticed, that our rich and the powerful are not among
those of us bitching about high water or the cost of energy.
- Brad Guth
And the collapse continues...http://www.iht.com/articles/2008/01/15/business/citi.php
"Citigroup needs $20 to $30 billion" over the next year, said
Christopher Whalen, the managing partner of Institutional Risk
Analytics.
Technically Bankrupt.
http://atimes.com/atimes/Global_Economy/JA16Dj01.html |
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| Guest |
| Posted: Wed Jan 16, 2008 11:16 pm |
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On Jan 16, 1:50 pm, knews4u2c...@yahoo.com wrote:
Quote: On Jan 16, 12:55 pm, knews4u2c...@yahoo.com wrote:
On Jan 14, 11:50 am, BradGuth <bradg...@gmail.com> wrote:
On Jan 14, 1:16 am, knews4u2c...@yahoo.com wrote:
On Jan 11, 6:19 pm, BradGuth <bradg...@gmail.com> wrote:
On Jan 11, 2:00 pm, knews4u2c...@yahoo.com wrote:
As the cracks in the damn get bigger and bigger.
How long can the "plunge protection team" keep their fingers in the
hole?http://biz.yahoo.com/ap/080111/wall_street.html?.v=40
As long as our hard earned loot holds out.
- Brad Guth
"Tsunami."http://www.youtube.com/watch?v=I-16u9x3tfE
That's mostly because of our moon, and I can fix that if given the
green light.
BTW, as Americans we apparently don't care about folks that can't swim
faster than our oceans are rising, including those of our own kind.
Haven't you noticed, that our rich and the powerful are not among
those of us bitching about high water or the cost of energy.
- Brad Guth
And the collapse continues...http://www.iht.com/articles/2008/01/15/business/citi.php
"Citigroup needs $20 to $30 billion" over the next year, said
Christopher Whalen, the managing partner of Institutional Risk
Analytics.
Technically Bankrupt.http://atimes.com/atimes/Global_Economy/JA16Dj01.html
World wide...
http://www.financialsense.com/editorials/guild/2008/0115.html |
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| Guest |
| Posted: Thu Jan 17, 2008 2:11 pm |
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On Jan 17, 1:16 am, knews4u2c...@yahoo.com wrote:
Quote: On Jan 16, 1:50 pm, knews4u2c...@yahoo.com wrote:
On Jan 16, 12:55 pm, knews4u2c...@yahoo.com wrote:
On Jan 14, 11:50 am, BradGuth <bradg...@gmail.com> wrote:
On Jan 14, 1:16 am, knews4u2c...@yahoo.com wrote:
On Jan 11, 6:19 pm, BradGuth <bradg...@gmail.com> wrote:
On Jan 11, 2:00 pm, knews4u2c...@yahoo.com wrote:
As the cracks in the damn get bigger and bigger.
How long can the "plunge protection team" keep their fingers in the
hole?http://biz.yahoo.com/ap/080111/wall_street.html?.v=40
As long as our hard earned loot holds out.
- Brad Guth
"Tsunami."http://www.youtube.com/watch?v=I-16u9x3tfE
That's mostly because of our moon, and I can fix that if given the
green light.
BTW, as Americans we apparently don't care about folks that can't swim
faster than our oceans are rising, including those of our own kind.
Haven't you noticed, that our rich and the powerful are not among
those of us bitching about high water or the cost of energy.
- Brad Guth
And the collapse continues...http://www.iht.com/articles/2008/01/15/business/citi.php
"Citigroup needs $20 to $30 billion" over the next year, said
Christopher Whalen, the managing partner of Institutional Risk
Analytics.
Technically Bankrupt.http://atimes.com/atimes/Global_Economy/JA16Dj01.html
World wide...http://www.financialsense.com/editorials/guild/2008/0115.html
Sell now?
Or lose your shirt next week.
http://biz.yahoo.com/ap/080117/wall_street.html?.v=51 |
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| BradGuth |
| Posted: Mon Jan 21, 2008 10:02 am |
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On Jan 16, 12:55 pm, knews4u2c...@yahoo.com wrote:
Quote: On Jan 14, 11:50 am,BradGuth<bradg...@gmail.com> wrote:
On Jan 14, 1:16 am, knews4u2c...@yahoo.com wrote:
On Jan 11, 6:19 pm,BradGuth<bradg...@gmail.com> wrote:
On Jan 11, 2:00 pm, knews4u2c...@yahoo.com wrote:
As the cracks in the damn get bigger and bigger.
How long can the "plunge protection team" keep their fingers in the
hole?http://biz.yahoo.com/ap/080111/wall_street.html?.v=40
As long as our hard earned loot holds out.
- Brad Guth
"Tsunami."http://www.youtube.com/watch?v=I-16u9x3tfE
That's mostly because of our moon, and I can fix that if given the
green light.
BTW, as Americans we apparently don't care about folks that can't swim
faster than our oceans are rising, including those of our own kind.
Haven't you noticed, that our rich and the powerful are not among
those of us bitching about high water or the cost of energy.
- Brad Guth
And the collapse continues...http://www.iht.com/articles/2008/01/15/business/citi.php
"Citigroup needs $20 to $30 billion" over the next year, said
Christopher Whalen, the managing partner of Institutional Risk
Analytics.
The failing stock market goes right along with our failing warlord
LLPOF policy of having perpetrated cold and hot wars, as well as for
having been screwing with humanity and of traumatizing our frail
environment for all she's worth.
The only short term solution is for our feds to cut the prime rate by
at least another full percentage point by the end of this month, so
that folks on their third combined do-everything mortgage can get one
more shot at keeping their uneducated and otherwise overspent butts
out of bankruptcy.
- Brad Guth |
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| BradGuth |
| Posted: Mon Jan 21, 2008 3:16 pm |
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Guest
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On Jan 21, 10:00 am, knews4u2c...@yahoo.com wrote:
Quote: On Jan 17, 4:11 pm, knews4u2c...@yahoo.com wrote:
On Jan 17, 1:16 am, knews4u2c...@yahoo.com wrote:
On Jan 16, 1:50 pm, knews4u2c...@yahoo.com wrote:
On Jan 16, 12:55 pm, knews4u2c...@yahoo.com wrote:
On Jan 14, 11:50 am,BradGuth<bradg...@gmail.com> wrote:
On Jan 14, 1:16 am, knews4u2c...@yahoo.com wrote:
On Jan 11, 6:19 pm,BradGuth<bradg...@gmail.com> wrote:
On Jan 11, 2:00 pm, knews4u2c...@yahoo.com wrote:
As the cracks in the damn get bigger and bigger.
How long can the "plunge protection team" keep their fingers in the
hole?http://biz.yahoo.com/ap/080111/wall_street.html?.v=40
As long as our hard earned loot holds out.
- Brad Guth
"Tsunami."http://www.youtube.com/watch?v=I-16u9x3tfE
That's mostly because of our moon, and I can fix that if given the
green light.
BTW, as Americans we apparently don't care about folks that can't swim
faster than our oceans are rising, including those of our own kind.
Haven't you noticed, that our rich and the powerful are not among
those of us bitching about high water or the cost of energy.
- Brad Guth
And the collapse continues...http://www.iht.com/articles/2008/01/15/business/citi.php
"Citigroup needs $20 to $30 billion" over the next year, said
Christopher Whalen, the managing partner of Institutional Risk
Analytics.
Technically Bankrupt.http://atimes.com/atimes/Global_Economy/JA16Dj01.html
World wide...http://www.financialsense.com/editorials/guild/2008/0115.html
Sell now?
Or lose your shirt next week.http://biz.yahoo.com/ap/080117/wall_street.html?.v=51
Americans get screwed as Holiday stocks drop like a rock. http://www.thisislondon.co.uk/news/article-23433407-details/Black+Mon...
But dropping like a rock (9/11 and Iraq style) is what we Americans do
best, especially once we've blamed others as responsible for all the
bad stuff that supposedly we had absolutely nothing whatsoever to do
with creating in the first place.
- Brad Guth |
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| George Cornelius |
| Posted: Sat Jan 26, 2008 5:53 pm |
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In article <pan.2008.01.10.20.45.43.463989@home.com>, Curly Surmudgeon <Curly.is.not@home.com> writes:
Quote: On Wed, 09 Jan 2008 11:13:35 -0800, P. Maffia wrote:
The Village Idiot, Knews4u returns with his usual drivel.
How does that statement disprove knews4u2chew's posting? Unless you
provide some counter argument your contradiction has no weight and your ad
hominum brands you as a troll.
knews4u2chew@yahoo.com> wrote in message
[...]
Quote: Not from this chair. Various news sources have reported that over half
the mortgage brokers have now closed shop and at least 212 lenders have
gone belly-up:
And from the list that follows,
Quote: 188. Wells Fargo - Home Equity
From the fine print on a Wells Fargo related web site: "Wells Fargo Home
Equity is a division of Wells Fargo Banks."
As to Wells Fargo's state of affairs, we have, from
http://news.yahoo.com/s/nm/20080116/bs_nm/wellsfargo_results_dc_4 ,
"Wells Fargo profit slides on home equity loss"
"By Jonathan Stempel Wed Jan 16, 12:09 PM ET"
"NEW YORK (Reuters) - Wells Fargo & Co (WFC.N), the No. 2 U.S. mortgage lender,
said on Wednesday fourth-quarter profit fell 38 percent, the first decline in
more than six years, as more people missed payments on mortgages and home
equity loans.
"Shares still rose as much as 6.1 percent as the profit decline was smaller
than expected, and deposits and loans rose at a double-digit pace."
Doesn't sound anything like going belly-up to me. Looks as if your list
is flawed, sir.
Do you have anything to back up your naked assertion of authenticity or
can we assume that the rest of your list is equally flawed?
And no game-playing about some particular division of a still-viable
corporation having troubles.
--
George Cornelius cornelius ( AT ) eisner.decus.org
cornelius ( AT ) mayo.edu
Quote: So much for The Village Idiot's information moronically
claiming that, "Almost all of Wall Street firms are bankrupt, ..." .
Maybe, if you dropped the ad hominums, you wouldn't have egg on your face.
-- Regards, Curly |
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| Guest |
| Posted: Sat Jan 26, 2008 7:21 pm |
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On Jan 26, 3:49 pm, "P. Maffia" <pmaf...@centurytel.net> wrote:
Quote: Curly's list also listed several CiTi Banks subsidiaries that the parent
company folded back into itself. But fine points like that are well beyond
his comprehension.
Comprehend this then:
http://rense.com/general80/bail.htm
The underlying problem infesting our economy and the world is
mountains of bad debt. How bad is it? Wall Street spinmeisters are
claiming a mere $200 billion in total bond losses and maybe another
$400 billion down the road. That is grossly understated. According to
Jim Willie and other gold experts, prime mortgage bond losses are at
least $2T (that's Trillion), Subprime losses total $1T, and total
mortgage bond losses are $3T. "The official estimates are wrong by a
factor of 10!" says Willie. "Gold will skyrocket when these numbers
are finally reported." That's where he is wrong--at least about the
reporting. The numbers will never be reported honestly. Deceiving the
public and covering up for gross malfeasance is part of the financial
system now.
Quote: "George Cornelius" <cornel...@DECUServe.oorg> wrote in message
news:$QZRrMCwEXdl@eisner.encompasserve.org...
In article <pan.2008.01.10.20.45.43.463...@home.com>, Curly Surmudgeon
Curly.is....@home.com> writes:
On Wed, 09 Jan 2008 11:13:35 -0800, P. Maffia wrote:
The Village Idiot, Knews4u returns with his usual drivel.
How does that statement disprove knews4u2chew's posting? Unless you
provide some counter argument your contradiction has no weight and your
ad
hominum brands you as a troll.
knews4u2c...@yahoo.com> wrote in message
[...]
Not from this chair. Various news sources have reported that over half
the mortgage brokers have now closed shop and at least 212 lenders have
gone belly-up:
And from the list that follows,
188. Wells Fargo - Home Equity
From the fine print on a Wells Fargo related web site: "Wells Fargo Home
Equity is a division of Wells Fargo Banks."
As to Wells Fargo's state of affairs, we have, from
http://news.yahoo.com/s/nm/20080116/bs_nm/wellsfargo_results_dc_4,
"Wells Fargo profit slides on home equity loss"
"By Jonathan Stempel Wed Jan 16, 12:09 PM ET"
"NEW YORK (Reuters) - Wells Fargo & Co (WFC.N), the No. 2 U.S. mortgage
lender,
said on Wednesday fourth-quarter profit fell 38 percent, the first decline
in
more than six years, as more people missed payments on mortgages and home
equity loans.
"Shares still rose as much as 6.1 percent as the profit decline was
smaller
than expected, and deposits and loans rose at a double-digit pace."
Doesn't sound anything like going belly-up to me. Looks as if your list
is flawed, sir.
Do you have anything to back up your naked assertion of authenticity or
can we assume that the rest of your list is equally flawed?
And no game-playing about some particular division of a still-viable
corporation having troubles.
--
George Cornelius cornelius ( AT ) eisner.decus.org
cornelius ( AT ) mayo.edu
So much for The Village Idiot's information moronically
claiming that, "Almost all of Wall Street firms are bankrupt, ..." .
Maybe, if you dropped the ad hominums, you wouldn't have egg on your
face.
-- Regards, Curly |
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| P. Maffia |
| Posted: Sat Jan 26, 2008 7:49 pm |
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Guest
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Curly's list also listed several CiTi Banks subsidiaries that the parent
company folded back into itself. But fine points like that are well beyond
his comprehension.
"George Cornelius" <cornelius@DECUServe.oorg> wrote in message
news:$QZRrMCwEXdl@eisner.encompasserve.org...
Quote: In article <pan.2008.01.10.20.45.43.463989@home.com>, Curly Surmudgeon
Curly.is.not@home.com> writes:
On Wed, 09 Jan 2008 11:13:35 -0800, P. Maffia wrote:
The Village Idiot, Knews4u returns with his usual drivel.
How does that statement disprove knews4u2chew's posting? Unless you
provide some counter argument your contradiction has no weight and your
ad
hominum brands you as a troll.
knews4u2chew@yahoo.com> wrote in message
[...]
Not from this chair. Various news sources have reported that over half
the mortgage brokers have now closed shop and at least 212 lenders have
gone belly-up:
And from the list that follows,
188. Wells Fargo - Home Equity
From the fine print on a Wells Fargo related web site: "Wells Fargo Home
Equity is a division of Wells Fargo Banks."
As to Wells Fargo's state of affairs, we have, from
http://news.yahoo.com/s/nm/20080116/bs_nm/wellsfargo_results_dc_4 ,
"Wells Fargo profit slides on home equity loss"
"By Jonathan Stempel Wed Jan 16, 12:09 PM ET"
"NEW YORK (Reuters) - Wells Fargo & Co (WFC.N), the No. 2 U.S. mortgage
lender,
said on Wednesday fourth-quarter profit fell 38 percent, the first decline
in
more than six years, as more people missed payments on mortgages and home
equity loans.
"Shares still rose as much as 6.1 percent as the profit decline was
smaller
than expected, and deposits and loans rose at a double-digit pace."
Doesn't sound anything like going belly-up to me. Looks as if your list
is flawed, sir.
Do you have anything to back up your naked assertion of authenticity or
can we assume that the rest of your list is equally flawed?
And no game-playing about some particular division of a still-viable
corporation having troubles.
--
George Cornelius cornelius ( AT ) eisner.decus.org
cornelius ( AT ) mayo.edu
So much for The Village Idiot's information moronically
claiming that, "Almost all of Wall Street firms are bankrupt, ..." .
Maybe, if you dropped the ad hominums, you wouldn't have egg on your
face.
-- Regards, Curly |
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| Guest |
| Posted: Sun Jan 27, 2008 1:36 pm |
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On Jan 27, 7:23 pm, Curly Surmudgeon <Curly.is....@home.com> wrote:
Quote: On Sat, 26 Jan 2008 15:49:48 -0800, P. Maffia wrote:
Curly's list also listed several CiTi Banks subsidiaries that the parent
company folded back into itself. But fine points like that are well
beyond his comprehension.
And you are too close to the trees to see the raging forest fire. There
were 200+ examples and you've not argued a single one. Even if IJ's
misrepresentation were valid that's still less than a 0.5% error rate.
And there are many more. Let's not lose sight of the greater picture, the
American economy is self-destructing. Looking at one institution, or a
dozen doesn't cover the gamut of problems.
Thanks to Robert A. Sturgeon for this link:http://www.atimes.com/atimes/Global_Economy/JA26Dj04.html
Jan 26, 2008
THE ROAD TO HYPERINFLATION
Fed helpless in its own crisis
By Henry C K Liu
Asia Times
-- Regards, Curly
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Howard Ruff used to say these same things. How is Howard these days? |
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| Curly Surmudgeon |
| Posted: Sun Jan 27, 2008 7:14 pm |
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On Sat, 26 Jan 2008 15:53:43 -0600, George Cornelius wrote:
Quote: In article <pan.2008.01.10.20.45.43.463989@home.com>, Curly Surmudgeon
Curly.is.not@home.com> writes:
On Wed, 09 Jan 2008 11:13:35 -0800, P. Maffia wrote:
The Village Idiot, Knews4u returns with his usual drivel.
How does that statement disprove knews4u2chew's posting? Unless you
provide some counter argument your contradiction has no weight and your
ad hominum brands you as a troll.
knews4u2chew@yahoo.com> wrote in message
[...]
Not from this chair. Various news sources have reported that over half
the mortgage brokers have now closed shop and at least 212 lenders have
gone belly-up:
And from the list that follows,
188. Wells Fargo - Home Equity
From the fine print on a Wells Fargo related web site: "Wells Fargo Home
Equity is a division of Wells Fargo Banks."
Independently incorporated. Just as with any large corporation today
Wells Fargo owns other corporations. Independent corporations can go
belly up while the parent corporation remains viable.
Quote: As to Wells Fargo's state of affairs, we have, from
Irrelevant.
Quote: Doesn't sound anything like going belly-up to me. Looks as if your list
is flawed, sir.
Ah, Information Junkie, why the new nick?
-- Regards, Curly
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| Curly Surmudgeon |
| Posted: Sun Jan 27, 2008 7:23 pm |
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On Sat, 26 Jan 2008 15:49:48 -0800, P. Maffia wrote:
Quote: Curly's list also listed several CiTi Banks subsidiaries that the parent
company folded back into itself. But fine points like that are well
beyond his comprehension.
And you are too close to the trees to see the raging forest fire. There
were 200+ examples and you've not argued a single one. Even if IJ's
misrepresentation were valid that's still less than a 0.5% error rate.
And there are many more. Let's not lose sight of the greater picture, the
American economy is self-destructing. Looking at one institution, or a
dozen doesn't cover the gamut of problems.
Thanks to Robert A. Sturgeon for this link:
http://www.atimes.com/atimes/Global_Economy/JA26Dj04.html
Jan 26, 2008
THE ROAD TO HYPERINFLATION
Fed helpless in its own crisis
By Henry C K Liu
Asia Times
-- Regards, Curly
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http://feeds.feedburner.com/SL/thegreen
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| Guest |
| Posted: Sun Jan 27, 2008 7:26 pm |
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On Jan 8, 10:16 pm, knews4u2c...@yahoo.com wrote:
Quote: http://www.kitco.com/ind/willie/jan032008.html
snip
The year 2008 will be the year that THINGS JUST PLAIN BREAK. It will
be a truly deadly year, unavoidably lethal to the USEconomy and
especially to the US banking sector. Nothing has been repaired. Some
tangible solutions will be offered in the next section, all legitimate
in a real world. However, we do NOT live in a real world, but rather
in a Fairy Tale world of US Hegemony and Wall Street with a choke hold
around the US entire system. Managed inflation is the policy never to
be reversed, until total breakdown occurs. Treason is rampant, called
simply Power Games. All attempts so far are to shore up the existing
system, to enable Wall Street to sell as much of their damaged asset
backed bonds to suckers, and to avoid international lawsuits against
Wall Street firms. In 2008, an alarming sequence is assured of
enormous damage that puts the entire US economic and financial system
in a perilous situation. The powers survived the end of 2007, with
heavy usage of band aids, rubber bands, and paper clips, but reality
continues to itemize a relentless sequence of unfixable, tragic,
intractable problems. The pressure points are big banks suffering from
insolvency, prime mortgage bonds destined for massive losses,
consumers without kitties to rob to keep spending, a worsening housing
market from chronic inventory bloat, and deepening problems in the
lending industry frozen from insolvency and distrust. Pitch in a
global resentment of US fraud and heavy handed tactics, especially
from the last couple decades.
What a prospect! Almost all of Wall Street firms are bankrupt, but
still in control of the financial media. Citigroup is dead in the
water,
snip
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/01/24/bcnstig124.xml |
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