Announcement

Collapse
No announcement yet.

Lies and SubPrime Bailout

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Lies and SubPrime Bailout

    About 21 percent of all mortÂ*gage originations from 2004 through 2006 were subprime, up from 9 percent from 1996 through 2004, says John Lonski, chief economist for Moody's InÂ*vestors Service. Subprime mortgages totaled $600 billion in 2006

    In late March 2008, Friedman Billings Ramsey[26] reported the default rate on securitized subprime loans hit 25.2% in December of 2007. Alt-A loan defaults also increased to 8.65%.

    25% of $600 Billion = $150 Billion of possible foreclosures due to subprime mortgages; these homes are worth, at most 30 % less than their original value therefore the cost of these defaults = $30 Billion.

    Many of these losses have aleady been written down on the books of banks and insurance compaies.

    How are they getting ths $1 Trillion Number???

    I get the feeling that the media is lying once again.

    Source for my numbers is Wikipedia

  • #2
    About 21 percent of all mortÂ*gage originations from 2004 through 2006 were subprime, up from 9 percent from 1996 through 2004, says John Lonski, chief economist for Moody's InÂ*vestors Service. Subprime mortgages totaled $600 billion in 2006

    In late March 2008, Friedman Billings Ramsey[26] reported the default rate on securitized subprime loans hit 25.2% in December of 2007. Alt-A loan defaults also increased to 8.65%.

    25% of $600 Billion = $150 Billion of possible foreclosures due to subprime mortgages; these homes are worth, at most 30 % less than their original value therefore the cost of these defaults = $30 Billion.

    Many of these losses have aleady been written down on the books of banks and insurance compaies.

    How are they getting ths $1 Trillion Number???

    I get the feeling that the media is lying once again.

    Source for my numbers is Wikipedia

    Comment


    • #3
      <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by SonofMichael:
      About 21 percent of all mortÂ*gage originations from 2004 through 2006 were subprime, up from 9 percent from 1996 through 2004, says John Lonski, chief economist for Moody's InÂ*vestors Service. Subprime mortgages totaled $600 billion in 2006

      In late March 2008, Friedman Billings Ramsey[26] reported the default rate on securitized subprime loans hit 25.2% in December of 2007. Alt-A loan defaults also increased to 8.65%.

      25% of $600 Billion = $150 Billion of possible foreclosures due to subprime mortgages; these homes are worth, at most 30 % less than their original value therefore the cost of these defaults = $30 Billion.

      Many of these losses have aleady been written down on the books of banks and insurance compaies.

      How are they getting ths $1 Trillion Number???

      I get the feeling that the media is lying once again.

      Source for my numbers is Wikipedia </div></BLOCKQUOTE>
      Not The Media! Media Is TOOL!
      Once You Live The Good Life, and Experience Power, Security, Recognition. It Takes Over! Thee Ones With The Power to Control This Country Always Have That "SELF" In Mind!
      USC and Legal, Honest Immigrant Alike Must Fight Against Those That Deceive and Disrupt A Place Of Desirability! All Are Victims of Fraud, Both USC and Honest Immigrant Alike! The bad can and does make it more difficult for the good! Be careful who y

      Comment


      • #4
        <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by davdah:
        Not so simple. Banks don't deal in real estate. Loans only. The properties will need to be re-sold. Quite often the hit will be more than 30% when its all said and done. Plus this doesn't include the expected colapse once the interest rates start to climb.

        The finger in the dike is the low fed rate. Keeping all those adjustable rate mortgages alive. Let it hit 5% and all hell will break loose. </div></BLOCKQUOTE>

        It Is that Simple Davdah! That's The Problem! Too Simple to Accept!!!
        USC and Legal, Honest Immigrant Alike Must Fight Against Those That Deceive and Disrupt A Place Of Desirability! All Are Victims of Fraud, Both USC and Honest Immigrant Alike! The bad can and does make it more difficult for the good! Be careful who y

        Comment


        • #5
          Very very simple. Everybody understands this except complete idiots.
          Make money, screw everybody !!!
          Have all the good s.ex you can, in all the ways you can, for as long as ever you can !

          -- Sabuntium The Great

          Comment



          Working...
          X