Headlines...

NEW -> Contingent Buyer Assistance Program
if you're not voting for one of the two major parties, you're just throwing your vote away!



*post paid for by the californians for mccain and californians for obama*
 
<em>"However, the fact remains that our economy has been increasingly running on debt, not capital. Capitalism does not exist without capital and debt is not, has never been and will never be a form of capital. Only now are we seeing the more dire implications of an economy without capital."</em> - Ron Paul
 
Nah, those credit derivatives will not cause any problems. They are hedged for a lessened payout of $6 bil.



The part I wonder is, if the securities are hedged, don't the counterparties to the hedge still have to pay?



<a href="http://online.wsj.com/article/SB122418321588441569.html">Lehman CDSes</a>
 
More on Lehman's swaps



<a href="http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/3211647/Fears-of-Lehmans-CDS-derivatives-haunt-markets.html">Tuesday</a>
 
A sign things have gone more than a bit awry.



<a href="http://jalopnik.com/5065174/gm-offering-dealers-250-for-every-customer-they-dont-send-to-gmac">GM to pay dealerships to find financing from anyone other than GM.</a>



<em>"We can't make money building them; why the heck would we even try to make money financing them?"</em>
 
<a href="http://www.nytimes.com/2008/10/20/business/worldbusiness/20ing.html?ref=business">The Netherlands to Provide $13 Billion to the ING Group</a>



I know a lot of us have ING... They are finally making news, do you think this will work, anybody concerned?
 
<a href="http://bigpicture.typepad.com/comments/2008/10/is-wells-fargo.html">Wells Fargo dropped their loan loss reserves</a>...



http://www.nypost.com/seven/10192008/photos/bus037a.jpg



<em>Note that earlier this year, Wells Fargo increased its definition of non performing loans, from 120 delinquent to 180 days. This made their balance sheet appear stronger than it was.



Analysts fearful of SEC reprisal for doing analysis -- that is the net result of the ruinous tenure of <a href="http://bloomberg.com/news/marketsmag/mm_1108_story2.html">the worst SEC chair</a> in decades -- Christopher Cox.</em>
 
[quote author="graphrix" date=1224551357]<a href="http://bigpicture.typepad.com/comments/2008/10/is-wells-fargo.html">Wells Fargo dropped their loan loss reserves</a>...



http://www.nypost.com/seven/10192008/photos/bus037a.jpg



<em>Note that earlier this year, Wells Fargo increased its definition of non performing loans, from 120 delinquent to 180 days. This made their balance sheet appear stronger than it was.



Analysts fearful of SEC reprisal for doing analysis -- that is the net result of the ruinous tenure of <a href="http://bloomberg.com/news/marketsmag/mm_1108_story2.html">the worst SEC chair</a> in decades -- Christopher Cox.</em></blockquote>
It's funny how everyone proclaims that Wells is this great bank that did no wrong and can do no wrong when they were also doing subprime lending like the other banks, but for some reason that hasn't gotten a lot of press....hummm...let the spin machine continue.
 
Wells Fargo has dirty, dirty loans on its books. They did billions in shaky consumer credit loans too, including 105% car loans for poor credit! They used to brag that they didn't do neg ams, yet they would originate 2nd mortgages BEHIND another lender's neg am 1st mortgage! Now they own 122 BILLION of Wachovia's Neg am loans.





Waaah Waaaaahhh Wwwaaaaaaahhhhhhhh!!!!!!!
 
[quote author="graphrix" date=1224551357]<a href="http://bigpicture.typepad.com/comments/2008/10/is-wells-fargo.html">Wells Fargo dropped their loan loss reserves</a>...



http://www.nypost.com/seven/10192008/photos/bus037a.jpg



<em>Note that earlier this year, Wells Fargo increased its definition of non performing loans, from 120 delinquent to 180 days. This made their balance sheet appear stronger than it was.



Analysts fearful of SEC reprisal for doing analysis -- that is the net result of the ruinous tenure of <a href="http://bloomberg.com/news/marketsmag/mm_1108_story2.html">the worst SEC chair</a> in decades -- Christopher Cox.</em></blockquote>
Interesting how they classify their non performing loans as deliquent as of 180 days when my bank does it as of 60-90 days on our loans.
 
[quote author="PadreBrian" date=1224586699]Yeah, wells is in trouble.</blockquote>


I heard that the CEO of Wells resisted Hank Paulson's shotgun investment saying his bank did not need the money because they did not have risky loans. ROFLMAO
 
Hi,



I really like it. Everyone can get all the information regarding real estate.



========================

arnold

<a href="http://www.fastrealestate.net">Homes For Sale</a>
 
<a href="http://www.nytimes.com/2008/10/25/business/25nocera.html?em">So When Will Banks Give Loans? </a>



<span style="color: purple;">What will Chase do with its $25 Billion early Christmas gift from the taxpayer? Will the money be used to help out "Main St." as our President promised?</span> <span style="color: red;">NOOOOOOOOOOO:</span>



"In point of fact, the dirty little secret of the banking industry is that it has no intention of using the money to make new loans. But this executive was the first insider who?s been indiscreet enough to say it within earshot of a journalist..."
 
[quote author="profette" date=1225058250]<a href="http://www.nytimes.com/2008/10/25/business/25nocera.html?em">So When Will Banks Give Loans? </a>



<span style="color: purple;">What will Chase do with its $25 Billion early Christmas gift from the taxpayer? Will the money be used to help out "Main St." as our President promised?</span> <span style="color: red;">NOOOOOOOOOOO:</span>



"In point of fact, the dirty little secret of the banking industry is that it has no intention of using the money to make new loans. But this executive was the first insider who?s been indiscreet enough to say it within earshot of a journalist..."</blockquote>


If Main Street was the real concern, could not the banks have been sidestepped and the trillions spent so far been loaned directly to Main Street?
 
Awgee, you are <em>so </em>cynical. Didn't you hear the PRESIDENT of the UNITED STATES? The bailout is for Main St. I'm

sure that was the intent. POTUS doesn't lie. It's just those big bad banks...
 
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