The fannie and freddie takeover........

[75th]

so you think my wamu debit will still work or will i have to wait for a new card from the new bank

ATM cards usually continue working. At least initially things tend to run like normal.

 

[Creepusmaximus]

Indeed. Did you know that the CDS market is more than half the size of the entire global banking system?

You sure about that? No I didn't know that.

What I waiting for and I'm short, is credit card companies getting whacked. They run 5% default and wouldn't have much problems with 7-8% but I see a big default rate coming up.

Check out COF, auto loan and CC's. Those guys are going to have a problem somewhere here. Been after them for around year short but I keep having to cover reshort cover reshort. Made good money but I'm looking for a huge drop.

 

[75th]

You sure about that? No I didn't know that.

What I waiting for and I'm short, is credit card companies getting whacked. They run 5% default and wouldn't have much problems with 7-8% but I see a big default rate coming up.

Check out COF, auto loan and CC's. Those guys are going to have a problem somewhere here. Been after them for around year short but I keep having to cover reshort cover reshort. Made good money but I'm looking for a huge drop.

Yeah, Bill Gross was talking about this a few months back. Since the CDS market isnt regulated in the least there is no way of knowing for sure, but he estimated the size to be upwards of $60 Trillion.

 

[EZ_E]

My brothers, I sold mortgages for 3 years. For 3 different lenders. NEVER ONCE did I ever fund a loan (and I funded a lot) that screwed the borrower. Now I'm out of work for the last 3 months. That's the most frustrating part......

 

[75th]

My brothers, I sold mortgages for 3 years. For 3 different lenders. NEVER ONCE did I ever fund a loan (and I funded a lot) that screwed the borrower. Now I'm out of work for the last 3 months. That's the most frustrating part......

Thatll learn ya. When in doubt, always joo a stranger out of money.

 

[jnevin]

My brothers, I sold mortgages for 3 years. For 3 different lenders. NEVER ONCE did I ever fund a loan (and I funded a lot) that screwed the borrower. Now I'm out of work for the last 3 months. That's the most frustrating part......

Then find a good shop and get back on the fucking horse dude. 3 months out of work is fucking weak.

 

[puddlemonkey]

educate a financial dumbass...if wamu tanks how will may 20k in a checking account be effected?

I keep 30k in my checking. We're dumb!


I WAMU

 

[puddlemonkey]

Then find a good shop and get back on the fucking horse dude. 3 months out of work is fucking weak.

Yeah, stop eating my tax dollars!!!

 

[puddlemonkey]

Get back to work! Chop! Chop!

 

[EZ_E]

Then find a good shop and get back on the fucking horse dude. 3 months out of work is fucking weak.

In case you haven't noticed, no one is hiring