rip fannie and freddie

[dalakhani]

Originally Posted by philcski

Idiot savant on my part...

and to be honest I can't. All my email and internet whatnot is monitored on here and I'd get fired if I did. Tough to watch that tank today, though.

I was talking to a guy at the bank last december and i told him back then lehman was going down because of their Alt-A book. He said that they had sold out of all of those bad loans. I told him that they would be buying them back.

Two months later, they close Aurora. Now this.

Which has to lead you next to...Merrill?

On the bank side, Wachovia is dead and stinkin.

[Cajungator26]

Originally Posted by dalakhani

On the bank side, Wachovia is dead and stinkin.

Rumored to be insolvent ... wonder if that is true?

[timmgirvan]

Originally Posted by Cajungator26

Rumored to be insolvent ... wonder if that is true?

I read today that WaMu might be the next big bank to close!

[dalakhani]

Originally Posted by timmgirvan

I read today that WaMu might be the next big bank to close!

Wamu went on a major bank buying spree earlier in the decade and now they are disintegrating under the weight of all of the option arms they put out there.

The option arm kings were Countrywide, Wamu and Golden West (bought by Wachovia).

Alt A negatively amortizing paper on collateral that is decreasing in value.

Just a matter of time.