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In a typical depression the market decline is 30% peak-trough. That's based on historical data. To date we are still only down 20%. Given that things are continuing to worsen the market will continue to go down regardless of what congress does. Monday's spike down may have been more...

Mr Mortgage had an interesting counter take on this today. "Instead of doing away with mark-to-market they should be mandating that all banks and raters use a universal modeling system in which Home Price Indexing was done on a zip code basis. This way everybody?s securities and loans are...

Love it, wasn't that a Joni Mitchell song.. tear out an airport, put up a jail

I saw a democratic congressman from CA on CNBC today report that opposition to the bailout was running 300 to 2 in his email/correspondence. He said that wall street and the leadership were calling the shots right now and if this bill doesn't pass by this weekend, by next week there will be...

I am so pissed at Paulson. He want's power to save wall street but he hasn't explained what the Fed will do with all the toxic paper or bad loans. In the past when banks failed we nationalized them, kicked out management, screwed the stockholders, bondholders took a haircut, chopped...

As Warren Buffet says, people do stupid things to chase a slightly higher yield. Also, never put all your eggs in one basket, he should have diversified.

I don't see why this is so shocking. In order to modify the loan, the borrower has to actually document his/her ability to make payments. We know this is not the case in the vast majority of the So Cal loans. This is a no sh*t Sherlock finding to me.

Lawyerliz Better brush up on your legal briefs. I brought a similar complaint to the board. Got referred to some Federal (FTC) rule that makes it illegal to interfere with an owners right to put up satellite dishes. I think DISH or directTV websites will be happy to refer you...

The gas shortage only lasted a couple years, after that it was pretty much back to normal. I was in college in the 70's and I remember sometimes after pulling an all night-er we would pile into the car and drive to Vegas for the $1 buffet breakfasts. Do you believe that. Gas was so cheap...

Everyone I know who went thru it were already professionals and established and used it to buff their name with some more important sounding letters, MBA. If you are graduating college and looking to go to a program where you will get conections to industry to land a good job after you get...

IMHO... Freddie & Fannie will end up nationalized and the shareholders will be left holding the bag. Short or steer clear.

Just came across this... Purchased 5/12/06 for $1,830,000.00 went back to the bank 6/3/08 for $1,493,260.00 Now REO listed at $875,000.00 <a...

Washington is out of touch with the country. They don't know what goes on outside of the beltway. This bill was about doing something so that the democrats could show the nation they care about the housing problem. Whether it is effective or not was irrelevant. It was also about throwing...

<a href="http://seekingalpha.com/article/85055-lehman-the-end-game">Seeking alpha July 15th predicts Lehman in end game</a> Lehman will go before GS according to seeking alpha, looks like a better short play.