• Here is a link to the full explanation: https://rollitup.org/t/welcome-back-did-you-try-turning-it-off-and-on-again.1104810/

Predicting the future of banks

D

dknob

New Member
Well after a short while in the mortgage industry I was able to anticipate the collapse of:

Countrywide
Indymac
Lehman Brothers (although I doubted this would happen because of their position in the federal reserve)
Washington Mutual

----
Now its tougher than ever since few banks with a decent amount of exposure are left. I think BofA is going to suffer, but not fail. Wells Fargo seems to have navigated this very well and offset many of their bad mortgages with all of Washington Mutuals A paper loans in 2006. Bad move WaMu.

HSBC may be the next to go. They did lots of subprime and 2nds. With depreciation and their second lien position, it is likely they will lose on every foreclosure that lent on. They also did a bunch of subprime and "Subprime seconds" in early 2006, but backed out of that practice quicker than most. I also heard about this bank having financial problems in early 2007.
 
ta2drvn

ta2drvn

Well-Known Member
HSBC will survive this mess, because unlike Wall St investment bankers they understand how to lend to sub prime borrowers, they've been doing it long before there was 'Sub Prime Mortgages' they saw the writing on the wall and were more restrictive with the types of loans they were purchasing. I noticed that even tho they were one of the LARGEST purchasers of sub-prime loans they were generally the first to tighten up credit standards or be more likely to reject/cut values. They stopped purchasing 2nd mortgages but still allowed it's retail division to originate these loans, this slowed their exposure and they used more restrictive income requirements.

Bottom line, large finance companies that jumped into the mortgage market had an advantage because of the fact that these were THEIR borrowers, they know how to take advantage of the rewards these borrowers offer and how to offset the risk they represent. Most of the time it's called HIGH INTEREST RATES with no concern about competing with the bank's low interest rates down the street, because they wouldn't touch the borrower with a 10 foot pole.... Unlike, the investment bankers that encouraged competition with conforming loan products and rates using sub prime MBS, idiots!
 
brendon420

brendon420

Well-Known Member
i am really learning a lot from all of these threads you guys are posting about the current event happening, thanks a lot
 
Seamaiden

Seamaiden

Well-Known Member
I am SO glad I bank with USAA. JP Morgan owns the note on our home. And HSBC closed my cc account because of inactivity. Whoops, it's gonna stay that way.
 
Seamaiden

Seamaiden

Well-Known Member
Yep, doesn't matter WHAT I say or do, it always gets a rise out of you. You're such a puppet, med. :lol: :hump:

Dance, Thumbelina, dance!
 
TheBrutalTruth

TheBrutalTruth

Well-Known Member
I do have to give her props for actually keeping track of this stuff. God knows that I would kill to actually find some one like her that I would feel comfortable trusting my finances with.
 
Seamaiden

Seamaiden

Well-Known Member
Thank you, Brutal. I seem to put a seriously wiry hair right across med's ass, but my husband appreciates my abilities. He makes up where I lack, so we suit each other quite nicely. :)
 
Seamaiden

Seamaiden

Well-Known Member
Are you telling me to kiss your ass? Or are you, again, alluding to the desire to have me service what poses as your pud? If so, you're becoming offensive again, and are probably in need of another infraction. :)
 
medicineman

medicineman

New Member
Seamaiden said:
Are you telling me to kiss your ass? Or are you, again, alluding to the desire to have me service what poses as your .pud? If so, you're becoming offensive again, and are probably in need of another infraction. :)
Click to expand...
So now you are assuming the moderator position Eh, Fu Fu Fu, damn that stutter. I don't believe I've gotten an infraction yet little missy. You can keep your stupid puppet crap and stick it where the sun don't shine, I'll bet that is cavernous,~LOL~.
 
TheBrutalTruth

TheBrutalTruth

Well-Known Member
Medman, do you think that maybe your problem might be that in not having any respect for yourself, you are unable to extend respect to other people?
 
Seamaiden

Seamaiden

Well-Known Member
medicineman said:
So now you are assuming the moderator position Eh, Fu Fu Fu, damn that stutter. I don't believe I've gotten an infraction yet little missy. You can keep your stupid puppet crap and stick it where the sun don't shine, I'll bet that is cavernous,~LOL~.
Click to expand...
I'm getting to you, but I'm not! Which is it? Do I get to you or not? You can't make up your mind any better than you can control yourself. I will leave your infractions up to the moderators, but don't think that I, and anyone else who reads your venomous postings, haven't noticed that you've stopped calling people names. Why is that? Because you didn't get spanked? :lol: Eeeyyeah. Right. And the check's in the mail, too, right?

Now you're doing nothing but polluting what actually could be a really informative thread by hijacking it, as you always do. How about you actually add something, you know, intelligent? Seeing as how you would do so well on an IQ test and all, dazzle us with your brilliance. Do you actually have anything to add, a question to ask, or have the ability to post something that isn't another sad effort to prop yourself by insulting others, or are you just wasting time when you should be napping?
 
medicineman

medicineman

New Member
Seamaiden said:
I'm getting to you, but I'm not! Which is it? Do I get to you or not? You can't make up your mind any better than you can control yourself. I will leave your infractions up to the moderators, but don't think that I, and anyone else who reads your venomous postings, haven't noticed that you've stopped calling people names. Why is that? Because you didn't get spanked? :lol: Eeeyyeah. Right. And the check's in the mail, too, right?

Now you're doing nothing but polluting what actually could be a really informative thread by hijacking it, as you always do. How about you actually add something, you know, intelligent? Seeing as how you would do so well on an IQ test and all, dazzle us with your brilliance. Do you actually have anything to add, a question to ask, or have the ability to post something that isn't another sad effort to prop yourself by insulting others, or are you just wasting time when you should be napping?
Click to expand...
I repeatkiss-asskiss-asskiss-assI will not lower my energy to debate such frivolity. You think you are special. Maybe in the sense of the short bus special, but otherwise sea-B you are nothing but a pain in the ass.
 
Seamaiden

Seamaiden

Well-Known Member
medicineman said:
I repeatkiss-asskiss-asskiss-assI will not lower my energy to debate such frivolity. You think you are special. Maybe in the sense of the short bus special, but otherwise sea-B you are nothing but a pain in the ass.
Click to expand...
If I'm a pain in your ass then my work with you is almost done. When the thing pops out then I'll know you're ready to carve, just like a Thanksgiving turkey. I must be special to get this kind of energy and attention from you. :D

Now, have you got anything of any intelligence or relevance to add here?
 
You must log in or register to reply here.
Top