Comments on: The Bank Deals Provide Some Insight Into Bad Loans

By: Robbie

Robbie — Tue, 30 Sep 2008 16:01:01 +0000

You can hear it now. Pass legislation for any sum now. In a few months–”Oh, we really needed more…”

No, NO, NO, NO–what part of NO do you NOT understand Wall Street and Congress?

By: Covey

Covey — Mon, 29 Sep 2008 22:05:48 +0000

But the collateral behind these loans, even the worst is not worthless; the value of the loan is not zero! This is not six months in the making! the whole mess is so transparent as to be tragically comedic, but only to those whose retirement money was tied to those stars under the management of some fool who is paid on the basis of trades made. The only ones who have lost are the ones of have sold. any government intervention must be on the basis of loans, write downs and shared appredcioation.

By: chuck

chuck — Mon, 29 Sep 2008 20:02:39 +0000

Now that this bill has been voted down by the house,and the silly blame game goes on in the beltway among both parties where does congress and Secratary Paulson go from. For now all three players: Congress,the whitehouse,and Bernacke/Paulson are now in the Undiscovereed Country. For out there is the real angry voter,the pensioner,the angry wall streeter who works hard for his/her clients. I believe since Wall Street got labeled Evil,I believe they should turn on the politicans who call them evil in the first place. And Anti-capitolist lefties should feel the heat as well.

By: JIMMY PERKINS

JIMMY PERKINS — Mon, 29 Sep 2008 18:55:35 +0000

DID CITI GROUP TAKE A GOOD LOOK AT WACHOVIAS LOGO? AMATUER YET DECREET STICK FIGURE PORN WITH AN “S” GRAPHIC ELEMENT FLANKED TO THE RIGHT WITH AN “E” ELEMENT AND LITERALLY COMING TOGETHER CENTRALLY TO SPELL…..YES YOU GUESSED IT “SEX”

By: Steve

Steve — Mon, 29 Sep 2008 15:50:02 +0000

You can’t extrapolate that 15% of the loans nation wide are bad from these two deals. What you can say is that these banks in particular were incredibly stupid for taking on these loans. There are loads of smaller banks that never got caught up in the subprime stupidity. Their defaults are no where near 1/7th.

We saw this coming years ago and switched from Wells Fargo to Union Bank of California.

By: chuck

chuck — Mon, 29 Sep 2008 15:44:04 +0000

I did myself a favor and I printed up the proposed Economic Stabelization Act.
Last night I was the Fincial Crisis update and I kept up with it all weekend in fact. But last night Cherly Casone had a real interesting guest and I like to call her the elder stateswoman of Wall Street. She’s angry at the fact how the politician have labeled “WALL STREET EVIL.” U know I don’t blame her. Becouse her point is that not all the banks of Wall and Broad aren’t evil and greedy. She pointed out the fact that there are real terrific banks out there beside her own. So if any of Wall Street bankers reading this I suggest,encouarge to get voices out there. Why not embarrass the Democratic Leadership who put the evil label on the first place.
Honestly I never saw Wall Street as evil at all. But Banks like Bear Stern,Lehman Brothers were victims of real bad management,arrogant CEOS but on the subprime issue a Democratic Congess under the leadership of Senator Dodd,Barney Franks should get the brunt of the criticism. I mean criticism from the street. Red flags went up and warnings weren’t headed.
On the campaign trail Senoator Obama owns realationship with Freddie and Frannie should be call into question. How many homes in his congressional district have foreclosed? Has anyone explored that side? He’s trying to get claim for this rescue plan. Obama should realize the public is smarter than he is.

By: Ed

Ed — Mon, 29 Sep 2008 14:44:14 +0000

Good morning. Your analysis makes sense but is that good or bad and how does it apply to other financial institutions? Why is the market reacting so badly this morning? Why have the credit markets not improved? Look at the 10 year US Treasury today. Do you think its because the bill has not yet been passed and signed?
My own opinion is that the markets may think that the “bailout” may not be big enough (”tranches”) and may not be sufficient and there is continued economic slowing and persistantly bad economic news.
All at Fox Business get a pat on the back from me for its coverage of this event.

By: Phil Poulos

Phil Poulos — Mon, 29 Sep 2008 14:14:56 +0000

Please note, the president of Wachovia was on jim cramers (another network) show 10 days ago saying everything was going to plan, every thing was
“hunky-dorry”.