BusKow Posted December 31, 2008 Report Share Posted December 31, 2008 I was wrong in thinking 31 Dec was a half day for markets...all are full day 31 DEc, closed 1 Jan, full day 2 Jan Link to comment Share on other sites More sharing options...
shorty Posted December 31, 2008 Report Share Posted December 31, 2008 I'd say we're about 1/3 the way thru the housing craSSh...should accelerate in '09 Housing Fraud Bubble Scam CONtinues to Implode in the 12 months through October: Lost Wages, down 31.7%; San Fannycrisco, down 31%; Meohmy, down 29%; Lost Anglers, down 27.9%; Shank MexDiego, down 26.7% Link to comment Share on other sites More sharing options...
snorkels4 Posted December 31, 2008 Report Share Posted December 31, 2008 The shock and awe will come when/if we find out what the Fed is doing behind the scenes. That Mr. Mortgage article is scary. The government considering no appraisal loans? Sheer and utter lunacy. All value will be obscured to save the system. Will FCBs continue to go along with that kind of crap? link? Link to comment Share on other sites More sharing options...
alceringa Posted December 31, 2008 Report Share Posted December 31, 2008 Fannie, Freddie May Waive Appraisals for Refinancings (Update2) By Dawn Kopecki Dec. 10 (Bloomberg) -- Fannie Mae and Freddie Mac, the mortgage-finance companies seized by the U.S. government, are considering forgoing new appraisals on refinanced loans to help struggling homeowners, their regulator said. “If they refinance someone, rather than doing a loan mod, do they need a new appraisal if they already have the credit?” Federal Housing Finance Agency Director James Lockhart told reporters after a speech in Washington today. “That’s an issue that’s being discussed. They’re looking at it.” Fannie and Freddie, which own or guarantee $5.3 trillion of the $12 trillion U.S. home loan market, must consider that some homeowners who need to refinance owe more than their property is worth and wouldn’t qualify for the necessary mortgage insurance, Lockhart said. Another consideration is the issue surrounding the valuation of refinanced loans on the companies’ balance sheets. “It sounds like a disaster,” said Paul Miller, an anal cyst at FBR Capital Markets in Arlington, Virginia. “What you’re doing is postponing the problem into the future and not giving the system time to fix itself,” he said, adding that regulators are bowing to political pressure. Link Link to comment Share on other sites More sharing options...
mdporter Posted December 31, 2008 Report Share Posted December 31, 2008 link? the link was on the first page of today's thread. link Link to comment Share on other sites More sharing options...
Jimbo Posted December 31, 2008 Report Share Posted December 31, 2008 US GOVT IS TURNING INTO JUST ANOTHER LEVERAGED UP HEDGE FUND All the stuff its getting into - auto lending, sub prime mortgages etc etc - sounds like the US government is turning into just another leveraged up hedge fund. The investors - trashery buyers - better not ask for their money back. Link to comment Share on other sites More sharing options...
shorty Posted December 31, 2008 Report Share Posted December 31, 2008 interesting that the Fed will print and pass out free $Trillions to deadbeat homoaners who will never repay, and they'll bail out their chubby bankster friends, and goose Treasury rates to zero, butt they're letting towns and cities go bankrupt and/or have to pay jacked rates to float their muni's at 7% or 8% or higher Link to comment Share on other sites More sharing options...
Charmin Posted December 31, 2008 Report Share Posted December 31, 2008 interesting that the Fed will print and pass out free $Trillions to deadbeat homoaners who will never repay, and they'll bail out their chubby bankster friends, and goose Treasury rates to zero, butt they're letting towns and cities go bankrupt and/or have to pay jacked rates to float their muni's at 7% or 8% or higher and the question is "Will Banks and Financial Markets Recover in 2009? The simple answer to this question is no." Roubini http://www.rgemonitor.com/blog/roubini Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.