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Author: Andrew SwallowAndrew Swallow Date: Mar 8, 2008 11:25
> Boston news is reported "whole streets" are vacant but that has
> to be hype.
That can happen if the houses are new (the builder has not sold any),
a speculator bought the entire street or every one in the street
worked for the same firm and the firm went bust.
Andrew Swallow
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Author: Andrew SwallowAndrew Swallow Date: Mar 8, 2008 11:32
>
> It can't be a coincidence that 3 or 4 TV channels has lots
> of programs that encourage this kind of speculation by the
> inexperienced.
>
> /BAH
That is a strong sell signal. Bubbles only go on for a few years.
By the time tv companies get to know about it the big gains have
occurred and the boom is nearly over.
Andrew Swallow
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Author: Morten ReistadMorten Reistad Date: Mar 8, 2008 11:21
In article 70-1-84-166.area1.spcsdns.net>,
Walter Bushell oanix.com> wrote:>In article news.individual.net>,
> krw att.bizzzzzzzzzz> wrote:
>>> In some cases it's the opposite. One can buy a serviceable gun for
>> $100, though the average bank robbery is only $4K.
>
>The average I'm told is brought down by druggies who hold up a bank on a
>whim and may get just a couple hundred or less.
And the chance of getting caught for a violent bank/post crime
is well above 90%%, and the jailtime for this average will be on the
order of a day in jail for every $2 you got out. You might as well take
an honest job.
-- mrr
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Author: Morten ReistadMorten Reistad Date: Mar 8, 2008 11:30
In article garlic.com>,
Anne & Lynn Wheeler garlic.com> wrote:>Morten Reistad last.name> writes:>> The BigBadBank may be in a squeeze themselves, and may have to
>> sell off a bundle of loans to BiggerBadderBank at a discount. Rates
>> between these vary, but 60-85%% of original value is a common band.
>> Reserve requirements often force banks to do this. They try to
>> hand off the most sellable items, normally loans that are only
>> slightly distressed, but still perfectly performing.
>
>just caught tailend of business tv program that (i believe) made the
>statement that UBS is unloading $22billion in mortgages (CDOs?) for
>seventy cents on the dollar.
Just the thing I spoke about; although 70%% seems low.
Here it would be a very useful defense for the homeowner to
be able to take over his own debt at the given rate, and get a
BigFriendlyBank or Corporation to take over the debt at the
reduced rate. At 70%%, and a long horizon on the loan most
homeowners should be able to cope again.
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Author: greymausgreymaus Date: Mar 8, 2008 12:40
On 2008-03-08, Andrew Swallow btinternet.com> wrote:> jmfbahciv@ aol.com wrote:
> [snip]
> >> Boston news is reported "whole streets" are vacant but that has
>> to be hype.
>
> That can happen if the houses are new (the builder has not sold any),
> a speculator bought the entire street or every one in the street
> worked for the same firm and the firm went bust.
local papers are reporting on Cleveland, Ohio, whole districts empty,
houses being vandalized, etc. End of the article was `But this won't
happen here' (Ireland). main reason it won't happen here is that the
parasites that were benefiting from this would be rapidly hung from
the nearest telephone pole.
--
greymaus
Just Another Grumpy Old Man
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Author: Anne & Lynn WheelerAnne & Lynn Wheeler Date: Mar 8, 2008 12:59
Morten Reistad last.name> writes:> Just the thing I spoke about; although 70%% seems low.
>
> Here it would be a very useful defense for the homeowner to
> be able to take over his own debt at the given rate, and get a
> BigFriendlyBank or Corporation to take over the debt at the
> reduced rate. At 70%%, and a long horizon on the loan most
> homeowners should be able to cope again.
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Author: LonLon Date: Mar 8, 2008 17:37
> In article 70-1-84-166.area1.spcsdns.net>,
> Walter Bushell oanix.com> wrote:>> In article maus.org>,
>> greymaus mail.com> wrote:
>>>>> Its becoming obvious is that the present problem is just a
>>> continuation of the S&L problem. greenspan is getting the blame,
>>> justified or not
>> He should get some of the blame. I was his job to keep his finger on the
>> pulse of the economy; he blew off warnings.
>
> Greenspan? He doesn't do that work anymore.
>
>
>
>> Of course, trying to stop a speculative boom results in immediate
>> trouble. It's one of those "You can pay now, or you can pay later",
>> situations.
> ...
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