December Stock Talk Week I

would not go near etrade,made a quick buck in it the day after the original disaster a few weeks back but these crooks are fucked,,,captains of wall street never go down with the ship,they go out with a hige buyout package instead,,drank a ton this weekend now i cant sleep,this sucks,guess i just stay up and go to work,,i got 5000 fuckin channels on direc tv but ther aint a thing on,,ill just put in rounders and  have a beer,great movie,,makes me want to go to the taj and play some poker

ETFC getting SLAMMED in premarket action.

 

Read an interesting article over the weekend.  We got our first clue at the true valuation these banks should book on their crap paper thanks to Citadel. In their deal with ETFC, Citadel bought $3 billion worth of obligations from ETFC for $800 million, that's a write-down of 73% !!! 

 

Off topic;  Fading every Big Ten team this year in the bowl games, with the possible exception of Ohio State, I think it's their destiny.

 

this is fuckin unreal,,, a bunch of idiots made poor choices  or were too stupid and were pushed into bad loans by greedy fuck sticks,,or u were a speculator and  were a greedy fuck as well and now i and other tax payers have to bail u out,,,,when govt. gets involved in the financial markets it is never a good idea,,,the markets will flush out the crap and bad money like it always does,,,i think one of the ways they will determine who qualifies is it has to be an owner occupied property...so people will lose the homes they bought ,big deal,most should not have even been buying the homes that they knew they could not afford anyway,,lesson learned,,,its like people from 2001 to 2006 thought it was their right to own a home,its a big responsibility,biggest most important purchase of a lifetime,,,holy shit i sound like a person adult,,,i mean lets say i had etrade stock,these fucks did the same thing as a speculative home owner and got burned by doing it,,,am i going to get the money i lost in the stock because of poor greedy decision making, maybe even criminal activity?,,,where is my bailout?....sorry ,thats just the way the market go's sometimes i would be told...now i could sue which u can bet  many of these companies will be getting sued forever because of all this shit,, but it probably will not do much,,after all when a company goes under or has trouble paying settlements,its always the common stock holder that gets paid last..ie other creditors, bond holders etc...etc... fuck these criminal douchebags

 i hear u wall but how do we determine who should be bailed out?the innocent dumb couple whowas pushed into an arm just so the mortgage company can make mpore money of them,sure absolutely,,,but the fuck stick who had no money in the bank,a credit score of450 and makes 40,000 a year who took out a500,000 mortgage,no way,.the speculator who was flipping or short term investing in them,,no fuckin way,,understand the word speculate douche bags,,,,fuck it ,i dont like my rate,my payments are higher than i like em,iwant a new loan with better terms right away please.....plus i dont know if it will really truly help the housing market,,too late,no?

I also wonder how many people are so inverted on their mortgages, that they are/will choose to just walk away, instead of continually throwing money into a depreciating asset.  No freeze on their interest rates will keep them in their homes and making payments.  I think we are just scratching the surface of how ugly this could get, especially in the wake of a 2008 slowdown.

 

 

 

 

 i agree,, freeze of rates only addresses small part of big mother ffffiinnn problem

But don't get me wrong.  It really pisses me off how we reward ignorance and stupidity in this country, and take every opportunity to screw over those of us who play by the rules.  My wife and I sacrificed for years to pay off our mortgage early, and continue to live way below our means.

 

 

i'd be interested to see what % of people will qualify,i say very low,most ,well,many  would not be able to get a conforming fixed loan in the first place i think