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IWETHEY Home / IWETHEY Board / Money, Financials, and Economics Forum / No, most of it has to do with being stupid
Post #280,380
by tonytib
4/2/07 6:20:26 PM
Reply
New No, most of it has to do with being stupid
and totally skipping underwriting.

Look up the percentages of Stated Income and No Doc / Stated Income loans in CA and you'll see why NC and Co deserve to go bust. And the fallout is going to hit Wall Street, too.

--Tony
Post #280,384
by bepatient
Picture of bepatient
4/2/07 8:01:29 PM
Reply
New Wall Street has already dealt with it.
Too much of today's music is fashionable crap dressed as artistry.Adrian Belew
     New Century Financial files for chapeter 11 - (JayMehaffey) - (8) - April 2, 2007, 03:22:40 PM EDT
         A lot of it has to do with... - (folkert) - (7) - April 2, 2007, 04:28:00 PM EDT
             No, most of it has to do with being stupid - (tonytib) - (1) - April 2, 2007, 06:20:26 PM EDT
                 Wall Street has already dealt with it. -NT - (bepatient) - April 2, 2007, 08:01:29 PM EDT
             Shockingly underhanded. - (static) - (4) - April 2, 2007, 11:07:21 PM EDT
                 OPM + Big Fees = Profit! - (Another Scott) - (1) - April 2, 2007, 11:21:25 PM EDT
                     It's all very confusing. - (static) - April 3, 2007, 08:51:30 AM EDT
                 Securitization - (JayMehaffey) - (1) - April 3, 2007, 09:46:57 AM EDT
                     Got an email today - (crazy) - April 3, 2007, 05:16:30 PM EDT

Well, yes, because everyone knows that having an Italian travertine fireplace in just one color is gauche.
50 ms