erniem

Wall Street, R.I.P. Now What?

I guess all those Phds at Goldman must have skipped a few classes.

Banks Using Leverage to Force Home Equity Repayments

I'd do the same thing. If they can't handle the mortgage.......

And the scenario is, of course, ARM first note, and then a HEL to squeeze "equity" out of the carcass before it rots. The mortgage crisis today owes equal parts of blame to owners and lenders, who colluded in an orgasm of greed and avarice.

My 2008 Predictions for Financial Catastrophe

I'm stocking up on popcorn and couches.

BoA Buys Countrywide - Implications for Main Street

The government probably forced BofA to buy CFC, or actually gave them so many assurances that it became a good deal.

The Real Story on Countrywide, Cont.

No doubt, the fed would not let the largest originator in the US tank. And they cajoled BofA to do this. And helplessobserver sees the issue, MBIA will not go under either.