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Predicting the future of banks

TheBrutalTruth

TheBrutalTruth

Well-Known Member
dknob said:
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

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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.
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So any other thoughts on any other banks.

Like National City?
 
Seamaiden

Seamaiden

Well-Known Member
He brought up Downey Savings (I swear, Downey is one of the armpits of the L.A. area, right down there with Bell Gardens and Huntington Park), and that surprised me because I didn't realize they were a larger institution.

Since our note's held by Chase (a JP Morgan company) I'm hoping that their buyout of WaMu won't cause them to have their own solvency problems.
 
H

HotNSexyMILF

Well-Known Member
I wonder whether they'll wait till next week or not to finalize things if they go thru with Citi, a final announcement after the market closes wouldn't shock me though.. Wamu was in talk for over a week..

I hadn't really thought of who my next guesses would be yet, figured there was like a week or so till Wachovia or National City tanked.. well National City is my next guess once Wachovia is official..
 
H

HotNSexyMILF

Well-Known Member
It's up to THEM.. if I didn't know any better I'd say THEY are waging economic terrorism on us.. They usually don't announce bank closures until after Friday's market closes, they announced Wamu last night, which scared people and gave them firepower to the bullshit bailout plan.. and now Wachovia..

Honestly though.. I have a really bad feeling about Oct.. my mommy alarms have been going off like crazy for the past 2 weeks and I'll be surprised/relieved if nothing major happens by the end of the year..
 
Seamaiden

Seamaiden

Well-Known Member
I think once the bailout plan goes into effect is when we're going to see it really take a turn. However, as Dave and I were talking about last night, want to really get a feel for the economy? Watch the price of eggs, milk, and bread. So far they've been pretty stable. But we're still probably gonna get some chickens. Neither Dave nor I want to milk a cow, but I've raised pigs before and they're about the easiest walking meat there is to grow. Lots easier to butcher, too.
 
hom36rown

hom36rown

Well-Known Member
"if I didn't know any better I'd say THEY are waging economic terrorism on us.."

it sure seems that way huh....bernanke has PHd in economics and his expertise is in the great depression....the way I look at it, he is either an idiot, as are all the governors of the fed...or they are doing this deliberately?
 
hom36rown

hom36rown

Well-Known Member
Seamaiden said:
I think once the bailout plan goes into effect is when we're going to see it really take a turn. However, as Dave and I were talking about last night, want to really get a feel for the economy? Watch the price of eggs, milk, and bread. So far they've been pretty stable. But we're still probably gonna get some chickens. Neither Dave nor I want to milk a cow, but I've raised pigs before and they're about the easiest walking meat there is to grow. Lots easier to butcher, too.
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can I move in with you guys, lol :-P
 
H

HotNSexyMILF

Well-Known Member
hom36rown said:
"if I didn't know any better I'd say THEY are waging economic terrorism on us.."

it sure seems that way huh....bernanke has PHd in economics and his expertise is in the great depression....the way I look at it, he is either an idiot, as are all the governors of the fed...or they are doing this deliberately?
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mm hm.. I never was the conspiracy type.. now everyone thinks I'm looney.. lol.. and not just with the economy, but the food, the water, the EVERYTHING.. either these people are REALLY STUPID or it's planned..

My gut say it's planned...

Bernanke knows exactly what he's doing.. he knows the Fed caused the Great Depression, and how.. and he's replaying it, more stealthy I must admit.

They're gonna make things go bad quick to get us to give into this bullshit bailout and give crazy powers to the treasury (can't be reviewed by ANY court or authority in the COUNTRY?! that's dictatorial powers..).. notice how it's not even a bailout anymore? it's a RESCUE PLAN.. the propaganda is so thick right now.

I think if the bailout goes through things will settle down for a bit- to make everyone think 'it worked'...
 
H

HotNSexyMILF

Well-Known Member
Sea if you're going to get chickens, do it now. And stock up on their feed..

Those who can't do these kinds of things should have food stocked up man..
 
hom36rown

hom36rown

Well-Known Member
HotNSexyMILF said:
I think if the bailout goes through things will settle down for a bit- to make everyone think 'it worked'...
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yeah, it porbably will provide some temporary relief, but very temporary...basically just pushes the problem over into obamas term and makes the problem apocolyptic instead of just catastrophic
 
H

HotNSexyMILF

Well-Known Member
I dunno.. if we have a "terrorist" attack in Oct.. McCain will be ushered in..

Obama would be able to herd the people into giving up their rights tho over economic reasons as well..

Touchy touchy times.. I must admit, I am a bit worried that we are being SET UP for something big....
 
hom36rown

hom36rown

Well-Known Member
I think once the dollar is completely worthless there next move will be ushering in the amero and the NA union...the scary thing is, at that point, the american people will probably be begging for it
 
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