1 %3E%20%E4%BF%A1%E6%81%AF%E6%B5%8F%E8%A7%88%3C i

d H1%3E%20%20%3Cdiv%3E%3Cspan%3E%E6%9B%B4%E6%96%B0%E6%97%B6%E9%97%B4%EF%BC%9A%3C w %3E%E8%A1%8C%E4%B8%9A%E8%8B%B1%E8%AF%AD%3C s %3E%E6%88%BF%E5%9C%B0%E4%BA%A7%E8%8B%B1%E8%AF%AD%E5%8F%A3%E8%AF%AD%3C r Trade l

Tsearch% Span%3E2010 8search2

0searchD Www % A%3E%20 3searchBsearch% Trade 89 Trade 9search63 Trade 1 %3E%E8%A1%8C%E4%B8%9A%E8%8B%B1%E8%AF%AD%3C 7 House 5 Szh 0 H1%3E%20%20%3Cdiv%3E%3Cspan%3E%E6%9B%B4%E6%96%B0%E6%97%B6%E9%97%B4%EF%BC%9A%3C 0 Div%3E%20%3Cdiv%3E%20%3Ch1%3E%E6%88%BF%E5%9C%B0%E4%BA%A7%E8%8B%B1%E8%AF%AD%E5%8F%A3%E8%AF%AD%2008%20%E6%8C%89%E6%8F%AD%E5%AF%B9%E8%AF%9D%3C

019 %3E%20%3Ca%20href a A%3E%20 Trade : P%3E%3C 3

a A%3E%20

Does anyone think the credit card bill will help? I can’t even tell when most things would take effect. And then it has a gun toting allowence law in parks WTF. Everything is too big too fail so all the failures are rewarded. The finance peeps took over the goverment and no one can dislodge them. I know all of this is off the subject but the doctor delivers a good perspecitve.

fred

May 20, 2009 at 9:03 am

Thanks Dr.B. You’ve saved me from stupidity countless times over the past three years. I’ll buy when you say it’s safe to buy.

HHB

May 20, 2009 at 9:42 am

And even more insane Wells assumes only ONE THIRD OF ONE PRECENT of their pick-a-pays will recast before 2012!!! That means virtually all the loans are of the 121 month recast variety and they assume rates are going to stay “flat”.

More here:
2009/05/something-not-adding-up-on-option-arms.html

Even better, people in our neck of the woods (Northern California) are getting letters from WaMu saying they are extending their teaser rate another 5 years on their Option-Arm loan. Push the recasts out and in the meantime the additional negative amortization is REVENUE under GAAP (non-cash of course).

You’re right… this is a time bomb.

ChipChick

May 20, 2009 at 10:01 am

I sure wouldn’t be buying a home anywhere, not just California!!!!!
I doubt the credit card bill will help…it will phase in sometime in 2010 and it will then start hitting those who did manage their funds. Those who didn’t run balances, paid off in full, didn’t pay interest – another words, managed their credit well and had the benefits of it. Look for the return of instant-interest on every purchase, card fee’s and high interest rates for those who DID manage their credit, to pay for those who DIDN’T.
We all better be thinking about positioning back into cash or checks for all transactions. Seems like whatever direction you go to save yourself you’re going to be a target.
I really fear for this country. It could just be that despite what the Power Mongers in Washington are going for, it still might collapse and that will be spectacular for everyone. The till is about empty now.

robertsgt40

May 20, 2009 at 11:16 am

Just think how it could have been if we still lived by the Constitution. These guys could be prosecuted. Unfortunately the congress is who overturned the rules and regulations that restrained these guys. Anybody remember the Glass-Steagall Act? You really have to go back to the masterminds behind the Fed Reserve Act…or the Bible

May 20, 2009 at 2:41 pm

Great posts as always, regarding neg am and cali loans and the banks that retain them:
has any of the acctg changed, I know one plus for those neg ams, from a balance sheet
perspective was that they could write a full p and i payment collected monthly even though they were
only physically receiving 1-2 percent int payment. So, if that’s still going on then
there’s clearly some inflated numbers there.

Chris Durant

May 20, 2009 at 3:45 pm