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  • Citi: A Sell at $3.00?
    Research shows again and again that the analysts are a case of "even a stopped clock is right twice a day". They are a good telltale for where the herd is going if you are a contrarian. That's about it.

    I agree with roger maxims. People have this wild notion that
    1. stock is beat down
    2. no way gov't. will not let them go out of business
    3. profit

    As roger says, look at when earnings per share go positive. Maybe in 3 to 5 years. In between time, you will get diluted, and/or high-yielding preferred will be issued to make sure that the profits go anywhere but to the rubes in steerage (common stock). If you want to buy a lottery ticket, go pick up some long dated calls on C.
    Dec 04 09:29 am |Rating: +2 0 |Link to Comment |View article
  • Number of U.S. Homes With Negative Equity Is Stunning
    "The losses the banks will take holding the real estate will far outpace whatever diminished losses they take on a reworked mortgage."

    Says you. Banks need cashflow like any other business. I find it doubtful that they can hope to restructure so many loans without starving for cash. As Jolly_Rancher said, anyway you want to slice it, a lot of the banks are dead men walking. Restructuring only changes rate at which they bleed out.

    I agree that many defaulters are going to stay in "their" homes if only because there will be nobody from the bank/sheriff etc. to kick them out. But they will be reduced to being de facto squatters with no ability to show clear title or borrow against the property. Just like a lot of third world countries. Good job America!
    Nov 13 09:54 am |Rating: 0 0 |Link to Comment |View article
  • "Pick-a-Pay" Defaults Deepen - Housing Tracker
    I agree with you ArnoldCountry that the lenders were crazy to offer those types of mortgages to "normal" buyers. Those mortgages were designed for people with uneven monthly cashflow; people who get paid primarily in large bonuses a few times a year.

    But this is what you get when the originator doesn't have to hold the paper. He can tell himself that the customer will refinance in a couple years or sell the place for a profit so that he can sleep at night. Then he pockets his origination fee and moves on to the next guy.
    May 02 15:22 pm |Rating: 0 0 |Link to Comment |View article

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