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Wells Fargo.

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Kevin Mc

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Elite Member
Joined
Jun 7, 2004
Professional Status
Certified Residential Appraiser
State
New York
downgraded by Moodys today. Guess that 80 or so billion in second mortgages isn't sitting right with the bean counters.
 

Austin

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Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
Virginia
Remember a few weeks ago when the news headlines were: Any day now a really big bank is going to bite the dust followed by-where did that 2 trillion dollars go? Well, now we know the answer.
It is all quiet in the eye of the storm.
 
Joined
Oct 22, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
I just dont get it....

If this is true...how can Wells have paid (or even made a bonified offer) 18 billion or whatever it was just a month or so ago for Wachovia??

What the hell is going on up there on wall street?
 

Lloyd Bonafide

Senior Member
Joined
Jan 15, 2006
Professional Status
Certified Residential Appraiser
State
California
downgraded by Moodys today. Guess that 80 or so billion in second mortgages isn't sitting right with the bean counters.

Not a problem!!

They already received a $25 Billion "investment" from the Treasury Department, and when that gets eaten up by loan losses, there is an unlimited supply of more cash from Uncle Sam.
 

Tim The Enchanter

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
there is an unlimited supply of more cash from Uncle Sam.

And the more of it they pump into the system,
the more it looks like Monopoly money. :fiddle:
 

moh malekpour

Elite Member
Joined
May 25, 2002
Professional Status
Certified Residential Appraiser
State
California
The way that things are going, very soon Uncle Sam is going to be downgraded too. Then waht?
 

Tim The Enchanter

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
Dollar crash, hyperinflation.
According to Peter Schiff, who seems to be 1 smart dude. :new_2gunsfiring_v1:
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
And the $18B may not have been cash but a stock swap or other financial instruments.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Dollar crash, hyperinflation.
According to Peter Schiff, who seems to be 1 smart dude
If he is right twice in a row, we are screwed. Really Helicopter Ben is trying to increase inflation in fear of deflation (which helps folks like appraisers who are unlikely to see increased incomes - thereore cheaper things for them to buy.) Once inflation starts....can they control it any better than they have controled the markets?
 

Austin

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
Virginia
If the government is spending all the money and we have hyper inflation, then who is going to pay the higher prices? That is the thing about economics some people can't seem to grasp, everything is linked together and if you short one end you short the entire length and if you keep doing that you will run out of rope.
Then too, if inflation starts up we will get renewed speculation in commodities with a new bubble.... You can run but you can't hide.
 
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