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Subprime or Subcrime? - 8/10/2007 2:22:24 PM   
SugarMyChurro


Posts: 1912
Joined: 4/26/2007
Status: offline 		"Subprime or Subcrime? Time To Investigate and Prosecute"

http://www.mediachannel.org/wordpress/2007/08/10/subprime-or-subcrime-time-to-investigate-and-prosecute/

A French bank froze BILLIONS Thursday saying, “The complete evaporation of liquidity in certain market segments of the U.S. securitization market has made it impossible to value certain assets.” Translation from the French: We are all in deep shit.

-----

Hilarious! The bit, not the situation...
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RE: Subprime or Subcrime? - 8/10/2007 2:44:54 PM   
popeye1250


Posts: 18104
Joined: 1/27/2006
From: New Hampshire
Status: offline 		Boy, isn't this "global economy" working out nicely! lol
I was never in favor of a "global economy" was anyone else on here?
No-one ever consulted me about wether I wanted to participate in this B.S.

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RE: Subprime or Subcrime? - 8/10/2007 2:56:31 PM   
seeksfemslave


Posts: 4011
Joined: 6/16/2006
Status: offline 		There is something very odd in the current stock market frenzy.
Financial institutions buy a product, packages of sub prime mortgages, which subsequently fall in value. due to defaults after interest rate rises.

To reduce liabilities the value of stocks falls dramatically. Who ultimately sets the value of stocks.? Everybody loses except market makers who guarantee to buy stocks.
Sounds like a case of heads I cant lose, tails you can only win when I do.

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RE: Subprime or Subcrime? - 8/10/2007 3:08:51 PM   
cyberdude611


Posts: 2596
Joined: 5/7/2006
Status: offline 		Technically part of the blame is on borrowers who take out these subprime or adjustable rate mortgages.

(in reply to seeksfemslave)
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RE: Subprime or Subcrime? - 8/10/2007 3:56:16 PM   
kittinSol


Posts: 16926
Status: offline 		Well, since there's always got to be somebody to blame, I blame the French  . Effing b%^&*%&^*ds the lot of them.

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RE: Subprime or Subcrime? - 8/10/2007 4:12:44 PM   
seeksfemslave


Posts: 4011
Joined: 6/16/2006
Status: offline 		So you think the valuation of stocks is straight then? Like what I am !
In truth I am asexual but I dont like people to know that !

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RE: Subprime or Subcrime? - 8/10/2007 7:11:05 PM   
Owner59


Posts: 17033
Joined: 3/14/2006
From: Dirty Jersey
Status: offline
quote:

ORIGINAL: kittinSol

Well, since there's always got to be somebody to blame, I blame the French  . Effing b%^&*%&^*ds the lot of them.


Blame Canada...
http://www.youtube.com/watch?v=eeJsYWj5vto

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RE: Subprime or Subcrime? - 8/10/2007 7:18:05 PM   
mnottertail


Posts: 60698
Joined: 11/3/2004
Status: offline
quote:

ORIGINAL: kittinSol

Well, since there's always got to be somebody to blame, I blame the French  . Effing b%^&*%&^*ds the lot of them.


Now see here, not bloody likely you cloth-eared bint, it is Britian pulling out of Iraq what made real estate worthless.

Earl Haig


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RE: Subprime or Subcrime? - 8/11/2007 12:37:57 PM   
Lucylastic


Posts: 40310
Status: offline 		LMAO @ cloth eared bint...... havent heard that term in donkeys years (not that I think  kitten is one)



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RE: Subprime or Subcrime? - 8/11/2007 12:57:44 PM   
Durus


Posts: 184
Joined: 7/9/2007
Status: offline 		I keep waiting for the realestate market to crash so I can buy a house but stubbornly it keeps going. The truth of the matter is that there are so many people in the same situation that the realestate market can only go so low. I personally would be happy with a little sanity in the market.

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RE: Subprime or Subcrime? - 8/12/2007 8:33:06 AM   
Sinergy


Posts: 9383
Joined: 4/26/2004
Status: offline
quote:

ORIGINAL: kittinSol

Well, since there's always got to be somebody to blame, I blame the French  . Effing b%^&*%&^*ds the lot of them.


Exactly, they should all be dragged by the hair to a cave to learn Gorean protocols.

Sinergy

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RE: Subprime or Subcrime? - 8/12/2007 11:27:02 AM   
cyberdude611


Posts: 2596
Joined: 5/7/2006
Status: offline
quote:

ORIGINAL: Durus

I keep waiting for the realestate market to crash so I can buy a house but stubbornly it keeps going. The truth of the matter is that there are so many people in the same situation that the realestate market can only go so low. I personally would be happy with a little sanity in the market.


Well....its not going to crash because only the subprime mortgages are in danger of default and only 15% of those are in serious default. For there to be a real estate crash you would need a pretty substantial recession with the rest of the economy.

Now this 15% number is a huge deal to banks because it is a lot of money lost. And that is why the stock markets are in turmoil right now.

But there are some good buys on the foreclosure market.

(in reply to Durus)
Profile   Post #: 12
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