what's goin' on with cleveland?
09-05-2007, 06:15 AM
#1
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what's goin' on with cleveland?
heard on the news that there have been 8000 foreclosures to date in 2007.
is it really that bad down there?
damn....hope the ABCP nonsense isn't hurtin' any of you dudes.
is it really that bad down there?
damn....hope the ABCP nonsense isn't hurtin' any of you dudes.
09-05-2007, 08:56 AM
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Piss poor underwriting and a lack for-sight put a lot of people in mortgages they can not afford--especially on ARMs and buy-downs. Michigan is a bit worse, but Ohio is bad every wear.
As for CP, yea the market is a bitch. So is the ABS market. I am trying to get some done, but the pricing is terrible.
As for CP, yea the market is a bitch. So is the ABS market. I am trying to get some done, but the pricing is terrible.
09-07-2007, 05:17 AM
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I'm curious...not that I'm a financial analyst....but maybe this will be good for the economy in the long run, because the banks will stop doing stupid loans, and people won't be able to get themselves into the deep debt that they have been?
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09-07-2007, 01:12 PM
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Originally Posted by switchcars,Sep 7 2007, 08:17 AM
I'm curious...not that I'm a financial analyst....but maybe this will be good for the economy in the long run, because the banks will stop doing stupid loans, and people won't be able to get themselves into the deep debt that they have been?
09-09-2007, 03:18 PM
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Originally Posted by switchcars,Sep 7 2007, 09:17 AM
I'm curious...not that I'm a financial analyst....but maybe this will be good for the economy in the long run, because the banks will stop doing stupid loans, and people won't be able to get themselves into the deep debt that they have been?
the risk vs. reward is too great for banks. the market has already bounced back from the ABCP debacle.
not only can they (the lenders) carry forward those losses against future taxable income, their stock prices will bounce back too.
hell, they couldn't plan it any better, really, if they tried.