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  • Why Banking Is Insolvent [View article]
    Karl, why dont you do some home work before hitting that "send" button? There are about 70 million home in the US, with roughly 52 million mortgaged ones.

    there was no need to read the rest of your piece.
    Sep 29 17:08 pm |Rating: +6 -1 |Link to Comment
  • Refinancing Boom Will Degrade MBS Quality Causing Yet More Bank Bailouts [View article]
    You are contradicting yourself. If people who are about to get screwed because of rate adjustment refi on these new terms, we will avoid major losses. Also, simple math shows that if a refi is successful in avoiding a default in 6% of refi'ed borrower, MBS losses wont be bigger compared with no-refi environment. I recommend you to stop reading Peter Schiff, Adam. He is nothing but a selfish populist, IMHO.
    May 27 12:52 pm |Rating: 0 -2 |Link to Comment
  • Mortgage Industry Organization's Members Responsible for Good Portion of Default Losses [View article]
    On a second thought, I think you are short these companies (disclosure, I have no position in them), and now are talking your book...

    To be frank, I simply cant stand this typical WallStreet sharkness..What you are really attacking is LTV>80 loans, not MIs, than enable only 15% off all LTVs>80. SO, Bruce, why dont you just write an article about why highly levered loans are bad for the neighborhoods, instead of talking your book???
    Apr 10 16:06 pm |Rating: +1 0 |Link to Comment
  • Mortgage Industry Organization's Members Responsible for Good Portion of Default Losses [View article]
    Jeez, Bruce, you are overboard with this. MIs are to be blamed for this mess? PLEAAASE!!!

    The fact that these companies have been profitable throughout their 30-50 years in business (except for 2006-07 vintages) tells you that their model is not flawed. Just look at what happens 2008 vintage losses for FHA. FHA will have to be bailed by the taxpayer, whereas MIs are actually back to being profitable again in 08. Why? Because private business is always "smarter" than govt. If you dont agree with LTV >80 loans, then its a different proposition, lets lobby Congress to ban these loans. They have been around for ever though, and the fact that MIs have always made money except for the 06-07 speaks volumes.

    But again, your holding MIs responsible is ludicrous. jezz.
    Apr 10 15:56 pm |Rating: 0 0 |Link to Comment
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