Replies to post #617965 on Zeev's Turnips Patch-No Politics (ZEEV)

[Bruce A Thompson]

Want to hazard a guess what the S&L reserves would look like?

If one day, the government came in and said "As of today, you can only count 22% of your mortgage portfolio as assets" "That means your books are out of balance and you need to come up with $780,000 cash, right now, to adequately collateralize each billion dollars worth of mortgages on your books"

Oh and by the way, the fact that there are 3 X the authorized shares of your company trading in the market and your share price is in the shitter is your problem. Not ours.

[Bruce A Thompson]

"Nearly 100% of People who bought real estate in the last 24 months have lost money."

Yup. And why is that?

Subprime wasn't a popcorn fart in a whirlwind compared to the naked shorted CDOs, MBSs, and 30 to 1 CDSs written to cover them. The only way for any of those investors to make any money at all was to take down the entire industry. All it took was a few trillion dollars shorting the shares and the right new laws, (uptick, MtM, regulators who wouldn't regulate) and BINGO!!! Bring the cash to Mama!

Subprimes are not what brought down the entire world's economy. The money the FED already spent could have paid off every subprime loan in the country many times over already.

Subprimes are not the reason you wouldn't be able to sleep at night after you advised your 20 something doctor niece to invest her 401K in the stock market.