Housing Bubble Bursting?

[Greg Bell]

Not to worry , some goofball statements at the stock exchange is sending the market up.Can you imagine moving millions of dollars on a chit chat from a
Enron executive.Not to mention they can close the market at any time and what about the weekends and after 4 Pm.....I just don't get it..

 

[Restrain]

DJIA down 167 points at the close today. Worries continue (CNBC.com)

 

[Randolph Kinney]

Contagion spreads to commercial paper

Commercial paper gets infected

SAN FRANCISCO (MarketWatch) -- Subprime mortgage problems have spread across so much of the credit market that they've begun to cause disruptions in the commercial paper market, which provides a lot of the short-term fuel that keeps corporate America running.

 

[Randolph Kinney]

Derivatives are causing problems for international markets

Financial System in Jeopardy!

[FONT=Verdana, Arial, Helvetica, sans-serif]Is the global economy suddenly contracting? No.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]
[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]Are the world's largest banks suddenly going broke? No.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]
[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]So what has prompted these governments to pour out so much money so soon?[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]
[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]The answer:[/FONT]

[FONT=Verdana, Arial, Helvetica, sans-serif]They're afraid the mortgage meltdown in the United States could trigger massive failures in the international financial system.[/FONT]
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[Randolph Kinney]

County will no longer accept checks from Countrywide

County stops taking Countrywide checks

The Cuyahoga County Recorder's Office has stopped taking checks from Countrywide Financial Corp., the nation's largest mortgage lender, because of the California company's warning last week of possible financial problems.

Countrywide traditionally would pay the county by check for mortgage filings it makes by mail, but the recorder's office now will accept only money orders or certified checks for payment of those fees, said Thomas Roche, the recorder's chief of staff.

 

[Greg Bell]

DJIA down 167 points at the close today. Worries continue (CNBC.com)

Maria is even getting a little worried ,she's cute when she worried.:Eyecrazy:

 

[Austin]

I was watching Fox News at 6:30 and there was a Country Wide ad. No appraisal fees....... Call today for a wonderful rate. Can someone splain this to me? How can you be out of business and advertising for business?

 

[Greg Bell]

I have heard a rumor that B OF A would buy Countrywide if they get in trouble , yikes , can you imagine those anal goofballs calling for six comps and 24 hour turn time..

 

[Marcia Langley]

Good question, Austin. Evidently they just added 1,100 new employees, too ... after their big losses.

 

[Randolph Kinney]

Oh those dominos keep falling

Asia plunges on big sell-off

Credit market concerns spook investors who send indexes plunging: Japan's Nikkei down 2.6%, Seoul down 7.3%, Taiwan 4.9%, Singapore 4.2%, Hang Seng 3.6%