60 Minutes Segment - The Mortgage Meltdown

Discussion in 'Wall St. News' started by KMAX, Dec 14, 2008.

  1. KMAX

    KMAX

  2. Tums

    Tums

    LOL

    Ninja loans/mortgages

    No Income, No Job, or Assets.
     
  3. While I believe we aren't out of this mess.. I thought the report reaked of "fear" reporting. It was basically one sided with no arguments on the other side.

    Also I thought it was highly suspicious that the main guy they brought on was a fund manager who has an invested interest that there is a so-called second coming of a "highly predictable" mortgage looming...

    What they didn't point out is that he has an invested interest that the market moves in that direction. It seems like he was just trying to play up his position using 60 minutes to pander to a diverse audience.
     
  4. I'd worry less about the pandering , and more about why we didn't crucify the scumbags in the real estate industry while they were raping the system.

    At least as bad as Madoff, probably 10x worse.


    Our real problem is re are an impotent society, unable to stop crime even when it's in plain view. Blame the lawyers and the liberals.
     
  5. gwac

    gwac

    That 2 .5 million condo in florida will go for 500k max


     
  6. I'd worry less about the pandering , and more about why we didn't crucify the scumbags in the real estate industry while they were raping the system.

    At least as bad as Madoff, probably 10x worse.


    Our real problem is we are an impotent society, unable to stop crime even when it's in plain view. Blame the lawyers and the liberals.
     
  7. Yea, somebody ought to pay for this. Hey, let's take it out on the auto industry.
     
  8. And after that, we can recapture the billions the UAW 'collected' on behalf of their 'members'
     
  9. harkm

    harkm

    The guy goes on a rant about how bad things are and that we are in the 3rd inning and then he said he loves equities here? He must have a LONG time horizon.
     
  10. yup. Value guy.
     
    #10     Dec 14, 2008