hpski

Bank of America - Last Man Standing

Financial stocks, banking procedures are not my forte. But I understand a little about liquidity, and the investor malaise vis-a-vis investment banks theoretically having to sell stocks to cover bad loans, made more "urgent." based on falling real real estate valuations. Microcosmically, I just received an unsolicited email urging me to refinance, borrow "up to" $300,000. Out of morbid curiosity I filled out their form, but declined to plug in my SS# (I may be stupid, but I'm not crazy), then it came back at me with a pre-approval, WITHOUT using my SS#. Then I get a welcome email from Quicken with contact info and the name of my "loan adviser". Consider this - I invest for a living, have not generated a W-2 in two years. So where's all this $$ coming from? Yes my C-rating is excellent, but I wonder what % of this sub-prime situation is real, VS. nervous, jittery investors overreacting and not wanting to be last man standing in a pile of worthless stock certificates?