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  • #71,801
  • Mar 5, 2009 5:06pm Mar 5, 2009 5:06pm
Quoting Driver55

Then read the post to which it refers ... I certainly do not have anything to prove .. or not?

ok, thanks
  • #71,802
  • Mar 5, 2009 5:07pm Mar 5, 2009 5:07pm
Quoting gatorinla
yep whos the fool the guy with the 700k house or the one who loaned the money without checking him out first??? if im gonna loan you 700k im gonna check you out.. i think even a village idiot would know this..
No need to check them out if you can repackage and flip it to a pension fund who won't check it out either. Foolish = A) the borrower and C) final purchaser, briliant is B) banker who managed to unite two fools.
  • #71,803
  • Mar 5, 2009 5:08pm Mar 5, 2009 5:08pm
Quoting Driver55

In recent days, I have seen on Italian television, a service relating to the house prices in an American city ...
I do not remember the name of the city.
However, in summary, two-storey houses were sold at $ 6000.
Is certainly an extreme case.

This because the poor former owner could no longer pay.

If this is the result of those who have managed the politics, I do not see how these can criticize those who short the market.

You can buy a house in Detroit for $6000, but would you want to live there?

http://www.realtor.com/realestateand...00-10000?sby=1
  • #71,804
  • Mar 5, 2009 5:09pm Mar 5, 2009 5:09pm
Quoting damon_achey
No need to check them out if you can repackage and flip it to a pension fund who won't check it out either. Foolish = A) the borrower and C) final purchaser, briliant is B) banker who managed to unite two fools.
i wrote that and got tired and deleated it.. life goes on.. dont forget sold them all over the world.. like in places like iceland
those who can, do. those who cant, talk about those who can
  • #71,805
  • Mar 5, 2009 5:13pm Mar 5, 2009 5:13pm
say what you want putting cronies in sec and gutting their funding was a part of the problem.. throw in a few bernie madoffs and you got this...
those who can, do. those who cant, talk about those who can
  • #71,806
  • Mar 5, 2009 5:19pm Mar 5, 2009 5:19pm
Quoting damon_achey
No need to check them out if you can repackage and flip it to a pension fund who won't check it out either. Foolish = A) the borrower and C) final purchaser, briliant is B) banker who managed to unite two fools.
That's where they went slightly wrong...

Instead of laying off the credit risk from these instruments, the banker examined these securities and actually believed the triple-a credit rating meant they were as safe and as liquid paper as government debt, and would always remain that way.

Therefore, he opted to hold huge quantities on his bank's balance sheet yielding libor+15bps. They then funded these super-safe assets through issung commercial paper at libor-5bps, meaning they were locked into a 20bps risk-free arbitrage trade on assets running into billions of dollars. This would remain a no-brainer trading strategy so long as the funding markets stay open. What could possibly go wrong?? The market value of these securities could never drop, as they are triple-a and super safe...
  • #71,807
  • Mar 5, 2009 5:20pm Mar 5, 2009 5:20pm
Quoting gatorinla
i wrote that and got tired and deleated it.. life goes on.. dont forget sold them all over the world.. like in places like iceland
The collapse of Iceland was not down to the purchase of MBS, but more connected with excessive levels of leverage and foreign debt compared to GDP, which is similar to the problems many EM countries are now facing.
  • #71,808
  • Mar 5, 2009 5:24pm Mar 5, 2009 5:24pm
Quoting geojams
You can buy a house in Detroit for $6000, but would you want to live there?

http://www.realtor.com/realestateand...00-10000?sby=1

The problem is not if I want live in Detroit.
The real problem is for that poor family, perhaps with children, who had to leave the house.

The best thing that can happen to you is to find out where you're wrong.
  • #71,809
  • Mar 5, 2009 5:25pm Mar 5, 2009 5:25pm
Quoting Driver55

The problem is not if I want live in Detroit.


The real problem is for that poor family, perhaps with children, who had to leave the house.

Yes, it has a devastating impact on the local communities.
  • #71,810
  • Mar 5, 2009 5:36pm Mar 5, 2009 5:36pm
Quoting gammase1
The collapse of Iceland was not down to the purchase of MBS, but more connected with excessive levels of leverage and foreign debt compared to GDP, which is similar to the problems many EM countries are now facing.
markets are delicate one little thing among with a little this that and owning oil like goldmen while talking the price up.. then once you run out of places to store it.. you cant keep buying plus a little demand going down..the price drops and you have to cover all your futures makes money dry up real fast.. and makes you run to aig to collect your insurance money...when your leveraged 30 to one it dont take long.. we know about levarage in forex thats why most only risk 1%... but the smartest guys on the street risked much more.. then paulson former ceo of goldmen asks w to make it all go away..so we (us) pay aig so they can pay goldmen.. tada.. this is where we r
those who can, do. those who cant, talk about those who can
  • #71,811
  • Mar 5, 2009 5:40pm Mar 5, 2009 5:40pm
and i didnt even get one of those stimuli checks so i could buy some vasoline.... after all we could of saved millions in stamps and mailed a single check directly to the suadis prince..
those who can, do. those who cant, talk about those who can
  • #71,812
  • Mar 5, 2009 5:42pm Mar 5, 2009 5:42pm
Quoting Driver55

My English is very bad

Not near as bad as my italian or portugese or german or spanish or... canadian.



In any event forget your english, you speak "trading" just fine bro....
FUBAR...
  • #71,813
  • Mar 5, 2009 5:49pm Mar 5, 2009 5:49pm
Quoting ak4x
Not near as bad as my italian or portugese or german or spanish or... canadian.



In any event forget your english, you speak "trading" just fine bro....

Hi Randy
The best thing that can happen to you is to find out where you're wrong.
  • #71,814
  • Mar 5, 2009 5:51pm Mar 5, 2009 5:51pm
Quoting ak4x
Not near as bad as my italian or portugese or german or spanish or... canadian.



In any event forget your english, you speak "trading" just fine bro....
Person who speaks three languages = Trilingual
Person who speaks two languages = Bilingual
Person who speaks only one language = American
The Thief of Wall Street
  • #71,815
  • Mar 5, 2009 5:57pm Mar 5, 2009 5:57pm
Hey Guys This is my first post here. Great thread got going!
  • #71,816
  • Mar 5, 2009 5:57pm Mar 5, 2009 5:57pm
So, what are you guys thinking Tokyo and Aus are going to do?
  • #71,817
  • Mar 5, 2009 6:01pm Mar 5, 2009 6:01pm
Quoting Doniboy
So, what are you guys thinking Tokyo and Aus are going to do?
Trade Yen and Australian Dollars.
The Thief of Wall Street
  • #71,818
  • Mar 5, 2009 6:01pm Mar 5, 2009 6:01pm
Quoting Doniboy
So, what are you guys thinking Tokyo and Aus are going to do?

Everything needed to send the euro down the toilet ..
I have many short positions....

The best thing that can happen to you is to find out where you're wrong.
  • #71,819
  • Mar 5, 2009 6:02pm Mar 5, 2009 6:02pm
Quoting Doniboy
So, what are you guys thinking Tokyo and Aus are going to do?
U/J Goes Up
  • #71,820
  • Mar 5, 2009 6:06pm Mar 5, 2009 6:06pm
Quoting Chicky
Trade Yen and Australian Dollars.
Thanks..I'd like to subscribe to your newsletter.
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