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Prime Foreclosures Now Greater Than Subprime

We can look at the percentages and/or the total numbers; neither one brightens the actual picture. The large majority of lenders will survive and a large majority of default borrowers will not. You can put lipstick, earrings, and a low cut blouse on this pig, and it's still a pig.

This Recession Will Be Neither Short Nor Shallow

What are the names and affiliations of the persons who write the scripts for the know-nothing readers like Mark Hanes and Erin Burnett?

Is the U.S. Banking System Safe?

Impressive article and comments. So what will happen to the American workers' who have their 401(k)s and traditional & Roth IRAs invested in mutual funds whose NAVs continue to erode? Unfortunately, too many of them lack the investment knowledge to properly monitor their investments other than to watch their monthly or quarterly statements report the bad news. Thus, they remain the lamb-like victims of their employers' and 401(k)/IRA managers' poor investment choices. By the time the workers reach the point of realizing they have lost the better part of their savings there will be little they can do to salvage their savings or their retirement. This is a sad, but all too probable, scenario that faces the masses.

Greenspan, Please, Retire Already!

While in the position of Fed Chairman, it was impossible for anyone, especially Congress, to engage in a meaningful discussion with Al since his rhetoric was INCOMPREHENSIBLE. Since retiring he has improved this artform to INSCRUTABLE and BAFFLING.

Barton Biggs and Bob Brinker Are Both Bullish

Please don't base my future wealth on what "conventional wisdom" tells you.

What crystal ball tells you that "new homes and construction are close to their bottom" ?

"Huge amount of liquidity sitting on the sidelines"; do you expect it'll pour back into the market now, while the market continues to correct downward?

"U.S. stocks are the cheapest major asset in the world". Perhaps there's a very good reson for that;duh!

"As oil stops going up, tech stocks will go up". When do you predict oil stocks to stop going up?

Et cetera, et cetera, et cetera! Who do you think you are talking to?

An Insider's Look at the Subprime Mortgage Collapse

Unfortunately, there is no retribution or amelioration for the unethical but legally defendable business practices perpetrated by the lending community. As Jackoo pointed out, the terms of the mortgage are all spelled out in the closing documentation and must be read and understood before signature. I, as did Jackoo, read my documentation on three mortgage closings during the subprime lending era and ended up with mortgage rates of 4% (5/1 ARM), 4.25%(1/1 ARM), and 5.25% (30 yr Fixed).
With the 17 interset rate hikes of Greenspan and the ensuing rate reductions of Bernanke the ARM rates are now reset at 6% and 5.77% respectively. I mention this to disspell the widespread notion that ARMs are a major cause of our repo problem.
I attribute today's sad predicament of the repossessed borrowers to a lack of knowledge of the home buying and borrowing process, overextension of their resources, and addiction to consumption.
I take no delight in their plight. It's a hard lesson learned and hopefully their next venture into homeownership will be preceded with due diligence.
Unfortunately, the Golden Rule is still the mantra of our economy; "He who has the gold makes the rules".

Wall Street Breakfast: Must-Know News

Shalom User 168657!!!

Best and Worst Dow, S&P 500 Performers YTD

To Kranky: Touche! I think there are supporting facts for both of us. There definitely are negative factors involved on both sides of our discussion. Neither side is without need of improvement. My hope is that both sides will profit from the strongly-opinionated popular discussion of this WMT vs. the world debate.
BTW: I bought my Spiral-cut Ham for Easter at Smith's because their price was lowest! Happy Easter.

Best and Worst Dow, S&P 500 Performers YTD

Dear Kranky,
If you'd like to save some real money; shop WMT! I don't really care what the price of their shares is. It's the price of my groceries, appliances, and other household needs that matter.
And where would their employees be working if not at WMT? Do you think Mom & Pop would pay them more?

Wall Street Breakfast: Must-Know News

I don't understand the problem. I bought two 3br, 2ba, 2ga, 1450 & 1550 SF condos for $121,600 & $132,600 respectively in a gated community within 2 miles of Caesar's Palace (Las Vegas) in 2003. Within 18 months I sold the $132,600 condo for $235,000 which had no mortgage. The $121,600 condo which I still have as a rental unit has a $97,000 HELOC ARM interest-only mortgage which originated at 4.25% tied to the prime rate. When the adjusted rate climbed to 8.5% due to FOMC action I called the lender bank and they immediately agreed to lower the rate to 7.5% starting the next day with no doc and no fees. My FICO is 857. Today, with the Bernanke FOMC rate reductions I am at 4.77%.
Am I living in another world?

Nowhere Near a Real Estate Bottom

It's refreshing to have you report the reality of this metastasizing problem. Big Finance must get honest about their doomsday situation. Our Gov't leaders can not tell us about the nakedness of the credit market until the Emperor (Financial Institutions) admits it.

Sell Side Still Sees S&P 500 Up 20% by Year's End

When will we learn that market strategists have no way of knowing what the market's position will be at the end of this quarter, the end of this year, or at the end of this trading day. If they did, they'd be too busy trading and wouldn't be trying to make a few bucks wordsmithing these entertaining articles.

CNBC's Gasparino Joining the Plunge Protection Team?

Charlie told us it was heresay and warned us not to take action on the rumor. But being the children that we are, it was like being told not to go into the cookie jar. Don't blame Charlie, he has no crystal ball; nor does anyone else. The financial gurus can't tell you what the market will do in the next 10 minutes, let alone the end of this quarter or the end of the year. Only you are in charge of your actions. If you react to such rumors you may be ahead of the crowd or you may be sorry. It's like putting your wad on red at the casino; the only sure thing is that either red or black will come up. At this point in time, you may do better at the casino.

No Bear Yet? Average Stock Already Down 30%

Wow!!! I'm glad we're not really in a recession yet.

Pundit Failure: We Are in a Bear Market and This Is a Recession

Down market periods such as the one we are in right now are like the Emperor's nakedness; only the honest and nontalking heads will acknowledge the lack of clothing!

What is the FICO score for BAC, BSC, MER, MS, GS, CFC, et al? Are they SUBPRIME BORROWERS now?