jerry p

Will Ackman's Plan for Fannie Mae Backfire?

IndyMac was already insovent long before Schumer said anything. The stock price went from $70 to $1.30 before the Schumer comments. It's really not sad that a bank like IndyMac was shut down. They gave out hundreds of billions worth of high LTV loans without verifying the income or assets of the borrowers. In what world will a business model like that survive?

Will Ackman's Plan for Fannie Mae Backfire?

I don't think Ackman that going on CNBC is going to influence many institutions and funds if he is not making sense. IndyMac and New Century didn't go bankrupt because of shorts. Look no further than management and yourself when you lose money on your investments.

Lost Decade for Stocks?

Blaming the decline of the USD on the war is ignorant. The USD started its decline when Greenspan lowered the rates to 1% and is crashing again because Bernanke is headed back to 1% due to the credit problems. I wish you idiots would stop trying to tie every event in the world to Iraq. People did not borrow beyong their means because of Iraq. Banks didn't make bad loans because of Iraq. You did get a flat tire because of Iraq. While the Iraq war has been expensive and a huge waste of resources, it is not the cause of all the world's problems.

Jumbo Mortgage Risk Will Topple the Teetering GSEs

It's funny to see that some people are still comparing past default rates to the loans of the past few years. Alt-A used to be very safe loans until the lenders threw all standards out the window. Subprime used to default at under 5% and is now defaulting at nearly 20%. One jumbo loans default equals three or more average conforming loans defaulting. Now throw on a housing bubble where prices will drop 20-30 percent with jumbo defaults and you have a recipe for disaster