tag:blogger.com,1999:blog-6492542366661862113.post3663204841192923032..comments2023-10-31T01:32:09.169-07:00Comments on The Housing Time Bomb: The Last HurrahJeffhttp://www.blogger.com/profile/04450070920047311928noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-6492542366661862113.post-43018446770749158022009-03-25T15:27:00.000-07:002009-03-25T15:27:00.000-07:00Post should be up around 7-7:30Post should be up around 7-7:30Jeffhttps://www.blogger.com/profile/04450070920047311928noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-67970001526230395262009-03-25T14:30:00.000-07:002009-03-25T14:30:00.000-07:00EDCI saw that as well and thats a good question.I ...EDC<BR/><BR/>I saw that as well and thats a good question.<BR/><BR/>I think some banks have been more aggresive than others in marking some of this down.<BR/><BR/>I don't think anyone can answer that question because the transparency isn't there.<BR/><BR/>If the true marks were not that bad I think the banks would open up their balance sheets. Since they aren't, you have to assume that the marks are not aggresive enough.Jeffhttps://www.blogger.com/profile/04450070920047311928noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-21799777408832646442009-03-25T14:03:00.000-07:002009-03-25T14:03:00.000-07:00question,anyone read the footnote about carrying v...question,<BR/>anyone read the footnote about carrying value estimated as par - LTM net charge-offs - reserves (estimated at 1X 4Q08 annualized NCOs) - any deal marks?<BR/><BR/>Explain that please! <BR/>could it be not as bad as we think if they are already subtracting and coming up with that value? <BR/><BR/>I am no bull, just want to understand the footnote on the graph.Bobby and Jean the amateur world travelershttps://www.blogger.com/profile/02334299056824812962noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-90764165219496868902009-03-25T09:01:00.000-07:002009-03-25T09:01:00.000-07:00PeterI can't help but think the same thing.Our cur...Peter<BR/><BR/>I can't help but think the same thing.<BR/><BR/>Our current debt vs. GDP dwarfs the numbers seen during The Great Depression.<BR/><BR/>My guess here is Obama's sitdown on Friday with the banks is going to be ugly.<BR/><BR/>He is going to force them to sell these assets at firesale prices.<BR/><BR/>In return, he will change some accounting methods on M2M that will allow them to take the hits without going under.<BR/><BR/>This is nothing but a giant puppet show. The government has falling revenues and trillions of debt. They are basically broke.<BR/><BR/>I think this is why China is out there grumbling about a world currency. they are not stupid. They see whats going down.<BR/><BR/><BR/>The math doesn't work here and the market will figure it out eventually.<BR/><BR/>I plan on buying some long term SPY puts in the very near future.Jeffhttps://www.blogger.com/profile/04450070920047311928noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-2476913350418226982009-03-25T08:17:00.000-07:002009-03-25T08:17:00.000-07:00That chart is about the scariest thing I have seen...That chart is about the scariest thing I have seen in a while. If those figures are accurate then there is no potential argument against the banks being completely insolvent.<BR/><BR/>This is public information, how can the idiots running this country even have the audacity to claim that mark to market would mean anything. <BR/><BR/>More importantly, mark to market is the current law. Clearly these banks are in violation of this law. Where are the authorities? The government is making an enormous power grab, creating more regulations and it has nothing to do with protecting us, it is solely for them to take more power and steal more money. One would think that if we need more regulation then we are already enforcing all the regulations on the book.<BR/><BR/>We are doomed.Peterhttps://www.blogger.com/profile/08899893479880360468noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-60609243297169349262009-03-25T07:44:00.000-07:002009-03-25T07:44:00.000-07:00MatThanksI saw that on bubblevision this morning.V...Mat<BR/><BR/>Thanks<BR/><BR/>I saw that on bubblevision this morning.<BR/><BR/>Very interesting developement. This is a serious currency threat with deep implications if it ever happens.Jeffhttps://www.blogger.com/profile/04450070920047311928noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-76847090804378849482009-03-24T23:54:00.000-07:002009-03-24T23:54:00.000-07:00Here we go..."China Takes Aim at Dollar"http://onl...Here we go...<BR/>"China Takes Aim at Dollar"<BR/>http://online.wsj.com/article/SB123780272456212885.html#articleTabs%3Darticle<BR/><BR/>regard,<BR/>matAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-41324207814869990712009-03-24T20:32:00.000-07:002009-03-24T20:32:00.000-07:00AnonThe way I read it they can't do it.You need a ...Anon<BR/><BR/>The way I read it they can't do it.<BR/><BR/>You need a minimum purchase of $500 million to buy in which means only the big boys can play.<BR/><BR/>I can't wait to see how much capital they are really willing to risk. PIMCO said they are in but thats easy to say when you have $1 trillion in assets. <BR/><BR/>I wanna to see exactly how much they are willing to bet. this will tell you how comittited they are.<BR/><BR/>If this is run crooked it does run the risk of being another Ponzi scheme.<BR/><BR/>I think the bigger problem will be getting the banks to sell their assets.<BR/><BR/>There are plenty of buyers at the right price. The problem is that price puts most of the banks out of business.Jeffhttps://www.blogger.com/profile/04450070920047311928noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-36920376861176321262009-03-24T19:03:00.000-07:002009-03-24T19:03:00.000-07:00Has anybody heard whether the Pigmen will be exclu...Has anybody heard whether the Pigmen will be excluded from purchasing any of these toxic assets. Wouldn't it be ironic if they get to unload these shit pies from their balance sheets only to re-buy them at a leveraged rate of 6 to 1 with the very taxpayers dollars that they recieved to bail them out of them....... <BR/><BR/>Now that would be the most elegant Ponsi scheme ever.<BR/><BR/>AlexAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-61082648534833268602009-03-24T17:36:00.000-07:002009-03-24T17:36:00.000-07:00AnonYup"all in"!Anon<BR/><BR/>Yup<BR/><BR/>"all in"!Jeffhttps://www.blogger.com/profile/04450070920047311928noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-33032457496841200182009-03-24T17:33:00.000-07:002009-03-24T17:33:00.000-07:00I caught the best part of Geithner talking to Cong...I caught the best part of Geithner talking to Congress today. When the representative asked him about a backup plan he said: This plan will work. In other words there is no back up plan. This is the last bullet in the gun.Anonymousnoreply@blogger.com