and financial institution. Indy, Fannie, Freddie. Who's Next? Guess what? There will be many more BANKS and financials going down, WB, WFC, C, BAC Many more financials will have to writedown MASSIVE LOSSES.
U.S. Home builders will be filing for BANKRUPTCY. INDY is done so is Fannie and Freddie. Thornburg, Countrywide have collapsed. Next up Hovnanian, Pulte, DR Horton, Centex, Lennar, CB Richards and the rest of the home builders. There are no earnings for the home builders. They are TOAST.
This is why gov't is helping mortgage backers. So banks receive their payments even if homeowners default.
wow indy wet bankrupt. breaking news. we will knew this about 6 months ago. i think its more suprising it took this long. yeah there will be plenty of banks to go under. i'll put money on tma next. or imb, dsl, ect. happens in good times and bad, there have been not many bank falures in the past 5 years, but in the 90's and 80s it was every day. the strengh of the banking sector was very good until now. i will agree with you that if a big bank goes under then FDIC is FUCKED, but give them a break has it been like 3 bad quarters in a row? a BAC (who affirmed there dividand last week),a Wfc who has very high lending standards, and WB and C.
they should offer 100y loan at 3% to everybody, no doc, no maximum for current debt holders only. That should stop more loans go into default and free up cash to pump up the economy. Better than the free money plan I think.
Yeah you finally figured it out. Did you short em last year? I've been short the mortgage co's and financials for a long long time. Builders too. Lots more downside to come. SHORT BUILDERS, FINANCIALS, BANKS ET DUMMIES!
Countrywide crumbled, Thornburg toppled, Indy Imploded, Fannie and Freddie Failed. Bear Sterns etc etc etc GET OUT NOW while you still can! The U.S. Stock Market is going to CRASH! GO SHORT! BANKS Stocks are headed DOWN. CITI, Bank OF America, Washington Mutual, Lehman, JP Morgan, The Worst is Yet to Come.