350zCommTech
Well-known member
No doubt, but the horse has already left the barn. And our politician are still playing "lets protect our Wall st./banker friends. Allowing these criminals to go bankrupt is not an option yet.
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350zCommtech's Account Talk
- Thread starter 350zCommTech
- Start date
No doubt, but the horse has already left the barn. And our politician are still playing "lets protect our Wall st./banker friends. Allowing these criminals to go bankrupt is not an option yet.
350zCommTech
Well-known member
350zCommTech
Well-known member
350zCommTech
Well-known member
The late day rally in stocks took a bite out of the F fund gains.
Up 3.3 cents today.
Once again, the AGG proves to be just something to look at.
I believe this is more money there is in the world x 2 or 3.
European banks are estimated at holding $24T in toxic debts (at today's conversion rate)
http://www.telegraph.co.uk/finance/...16.3-trillion-bail-out-EC-dcoument-warns.html
European banks are estimated at holding $24T in toxic debts (at today's conversion rate)
http://www.telegraph.co.uk/finance/...16.3-trillion-bail-out-EC-dcoument-warns.html
350zCommTech
Well-known member
Wow! The world is going to need more than a "bad bank" to store all of that crap.
Would like to see their real P/Es with that factored in. :worried:
$24T dwarfs their market caps.
Start support at nationalization AKA $0. :nuts:
350zCommTech
Well-known member
What is your impression of this? Other then a heart attack:
We're screwed!
View attachment 5716
Seriously, I can't imagine $24T of anything. TurboTax Timmy's "bad bank" was supposed to be between 350B-$1T. But as it turns out, they didn't really have a bad bank plan. What does that tell you about how much toxic debt the US has?
When you are holding derivatives that have a face value many times more then your assets and the derivatives instruments are essentially worthless because there is no market for them =
Moral of this story: Leverage does not work to swell in reverse.
Problem is 60% of those 90% mortgages that are being serviced are underwater.
The home ATM is closed, home equity lines of credits are being shut down and people have a negative savings rate.
This is bleeding over to car loans and credit card defaults.
We are way to not unaware what is really going on.
The home ATM is closed, home equity lines of credits are being shut down and people have a negative savings rate.
This is bleeding over to car loans and credit card defaults.
We are way to not unaware what is really going on.
350zCommTech
Well-known member
Yes, but when you're leveraged 40:1, that 10% problem really puts the screw in you.
When you are holding derivatives that have a face value many times more then your assets and the derivatives instruments are essentially worthless because there is no market for them =
Moral of this story: Leverage does not work to swell in reverse.
Birchtree
Well-known member
Just because a mortgage is under water does not mean the mortgage payment will not be paid. Most sensible people realize that a home as an asset class will fluctuate in price just like a stock portfolio - it's not a reason to cut and run. I wouldn't want to ruin my credit ratings by setting up for a default or foreclosure - but perhaps those good at risk folks shouldn't be homeowners. There is nothing wrong with relocating back to government subsidized housing.
Corepuncher
Well-known member
Anyone losing a job (and there are many) may not be able to make payment, and even people who CAN make the payment may have to relocate and if they are underwater, that sucks bigtime.
Birch I'm telling you the residential and commercial real estate market is set for the next huge wave down, they cannot stop this. They are to little to late. Credit ratings get shuffled to the back of the priority list when you are 200k upside down.
http://online.wsj.com/article/SB123431311043370779.html
Many major Banks hold 50-60% of their portfolios in commercial and residential real estate. What do yo think is going to happen? Many of these banks are on the verge of collapse world wide. All these talking heads couldn't figure out we were in a ressesion for how long? This is a real depression coming imo.
PS...and the stimulus, TARP, etc etc ect is complete crap. The only thing that could save some of these banks is their Synthetic CDO Madoff like scam.
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FUTURESTRADER
Active member
At 40:1 leverage, these banks utimately were sold $100,000 1 room condos for $4,000,000
350zCommTech
Well-known member
F fund currently down a penny.
YEN intervention appears to be coming off and back down goes the market. Under the triangle. Is this a throw under or are we going to see 740?
View attachment 5718
YEN intervention appears to be coming off and back down goes the market. Under the triangle. Is this a throw under or are we going to see 740?
View attachment 5718
