[QUOTE=aceventura3][QUOTE=host]
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Originally Posted by aceventura3
ace....your WSJ article is wrapped around the same conflict of interest as this
is:
People who invest in mortgage backed bonds don't invest in subprime lenders. Often when a subprime lender packages and sells the loans they originate, they either guarnatee or buy insurance against defaults. The subprime loans are often packaged with prime loans, dispersing the risk to the mortgage backed security investor. No matter how you slice it the mortgage backed securities are backed up by real-estate. I believe mortgage backed securities are a relatively safe investment.
Saying the market is rigged for the reason stated assumes people investing billions of dollars are fools.
My article is "happy talk" or bullshit, and yours is o.k. since its from the New York Times. This is how you want to have a serious discussion?
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ace....the imploding stock prices, and the foreclosures are the "facts". This thread is one week old....I'll be here ace...and I'll share what I am doing, in reaction to what I think is happening. The mortgage backed securities will crash in value, and there is little or no demand for them now...in subprime, or in "Alt-A" applicant credit rating categories.
The home equity and the pension account balances of Americans who can least afford to lose, are washing out first, ace.....the folks who were in a position to buy the MSB's won't feel the pain as soon as retail realtors, home construction and building materials related workers, and back office mortgage underwriting staff, and the J6P's who walk away or are foreclosed out of their over valued homes.
I gave you an example of Bear Stearns' criminally conflicting position and the propaganda that they broadcast. Fitch, Moodys, and S&P rating houses all have similar conflicts. I truly have spelled it out for you, ace....we just went through a stock market driven decline, seven short years ago. This time it's starting with real estate financing....but it's no different this time, in the early stages...but it will be a much deeper decline, and it will last much, much longer. You can bet on it, ace....I am...and so far....so good...