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Yeahhhhhhhhh! 14000 and climbing on Walstreet.


Yeahhhhhhhhh! 14000 and climbing on Walstreet.

Old 10-08-2007, 08:01 AM
Senior MemberCaptains Club MemberPLEDGERPLEDGER
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Join Date: Apr 2006
Location: Struggleville
Posts: 7,525
Default Yeahhhhhhhhh! 14000 and climbing on Walstreet.

Just don't let this little fact change your giddiness. The fed estimated 100 billion in losses and writedowns, that was at three months ago realestate values. I'll put the number between 120 and 140 billion IMO from what I'm seeing. There has only been about 18 billion so far. Somebody is holding some (well some is an understatement) worthless paper. While they are managing to hold on with lower short term rates to cover their calls, it's not going away and they (Walstreet) are ignoring the 1000lb gorilla in the room that's about ready to get them very very bloody. The more I learn about walstreet the more they remind me of realtors. They both love to find the biggest fool. Don't get me wrong, I'm not here to piss in your wheaties or ruin your day, just reminding you guys about the 1000lb gorilla. Feb 08 will be rock bottom and time to buy. There will be a whole, whole lot to choose from also.

One other detail. As far as I can tell, and I been digging, the writedowns that are estimated are just the losses incurred by the loss of profit on the interest for which they were purchased. The estimates do not include any losses that will be occurred by the foreclosure, marketing, and sell not to mention the loss of value which in my area is incredible.
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