BTW you people know that the market crashed today?
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They repackaged the loans so that they can even out the risk (those loans which are riskier to loans which have less risk).Originally posted by AndrewPKYap:well... the syndicate then "package" all these dubious loans, backed up by houses as collateral, and sell them to the banks...
hahaha, get this, (everything is still uncertain at this point, you know) but it is possible that some of the houses are in a few "packages"....
They package say, the loans for a hundred different houses into a piece of paper or document... and then sell the piece of paper to the banks...
house number 20 to 55 could be in package A, B and C at the same time... ! hahaha...
What a con-job. First, the homeowners will not be paying back the loans, now it turns out the same house might be in a few "packages..."
.... to be continued....
Even though the bonds are repackaged into several collateralized mortgage obligations (CMO), I don't think they have any problems foreclosing on houses that have defaulted in payments.
A wave of foreclosures and evictions is about to sweep the United States in the wake of the sub-prime mortgage lending crisis........................ -
Now that the market for CMOs, CDOs, and whatever is dead this would seem a golden opportunity for China. With trillions of US$ in foreign reserves they can buy up all these instruments from affected banks 'dirt cheap' .... this way China will have a very good investment as well as be a 'knight in shining armour' saving the US and the rest of the world from this predicament!Originally posted by maurizio13:They repackaged the loans so that they can even out the risk (those loans which are riskier to loans which have less risk).
Even though the bonds are repackaged into several collateralized mortgage obligations (CMO), I don't think they have any problems foreclosing on houses that have defaulted in payments.
A wave of foreclosures and evictions is about to sweep the United States in the wake of the sub-prime mortgage lending crisis........................ -
u agree or being sarcastic?
Originally posted by TS Kan:VERY, VERY, VERY INTERESTING & TRUE!
Please carry on. -
What an idiot... that doesn't know what is true and what is false... and how to tell the difference...Originally posted by newcomer:u agree or being sarcastic?
If only that was true... they can buy them and then burn the papers for the ghosts in hell... hahahaha... because as of now... a US Federal Court refused to let one bank foreclose until they can show proof that they own the properties and not just simply showing the court the SIVs... maybe they can show the proof and if they can, they will keep it...Originally posted by TS Kan:Now that the market for CMOs, CDOs, and whatever is dead this would seem a golden opportunity for China. With trillions of US$ in foreign reserves they can buy up all these instruments from affected banks 'dirt cheap' .... this way China will have a very good investment as well as be a 'knight in shining armour' saving the US and the rest of the world from this predicament!
... if they determine that they cannot hahaha... they will be so happy to sell them to China and Temasek, that will buy them up like a bargain (as usual) and then find that the papers are worth for use only as hell notes...
Edited to add: I have just found out that a couple more US Judges did the same... disallowed the foreclosure... until proof of ownership is brought before the court...
A picture of the Golden Opportunity for Temasek and China... -
another thing... if there is a crash and the financial markets in China crash... hahaha they can be white knights to the rest of the world? hahaha... they will be worried about a chaos not seen since the cultural revolutions...
If there is a bloody uprising... hahaha white knights? hahaha... more like bloody red knights...
Whereas the USA... because of their democratic institutions, there will never be an uprising.... and in fact, any possible uprising would have been pre-empted... see the difference?
If you are thinking in terms of Singapore when you talk about China, Singapore is too small a place for you to use as an example of how cronyistic self-serving despots can survive unscathed their despotic acts.... -
Why do you think at this time...
Speaker's Corner >
China advocating more democracy and accountability than SGP
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Sorry, I mis-cued! I thought you are a 'bull'. Didn't realise you are a 'bear' and a huge one at that!Originally posted by AndrewPKYap:another thing...if there is a crash and the financial markets in China crash
... hahaha they can be white knights to the rest of the world? hahaha... they will be worried about a chaos not seen since the cultural revolutions...
If there is a bloody uprising... hahaha white knights? hahaha... more like bloody red knights...
Whereas the USA... because of their democratic institutions, there will never be an uprising.... and in fact, any possible uprising would have been pre-empted... see the difference?
If you are thinking in terms of Singapore when you talk about China, Singapore is too small a place for you to use as an example of how cronyistic self-serving despots can survive unscathed their despotic acts.... -
ok at this point i've all but given up.
by all means listen to his madness, what do i care that you're believing the conman -
the sooner you give up your gross stupidity, the better...
see also here: Chit Chat >
Gambling, like forex trading, never pays.... 19 November 2007 · 06:10 AM -
Originally posted by TS Kan:Sorry, I mis-cued! I thought you are a 'bull'. Didn't realise you are a 'bear' and a huge one at that! You are one smart person... like you I always admit it when I make a mistake instead of many people here that try to salvage their stupidity and instead make themselves look more grossly stupid...
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... continue from where I left off...
So we have,
1. ...lend money to people to buy house / use house as collateral knowing full well that those people will not be able to pay...
2. ...package all these loans to people that will not be able to pay and "sell" the loans to the banks...
3. ... the banks are just starting to find out that they cannot even take back the houses for the loans they "bought" until they can prove ownership and not just show the court the "loan bundles" ...
4. ... there is also a possibility that many of the same houses had been included into different packages...
5. ...like the proverbial fools, Temasek and their banks suffer, losing Singaporeans money they take from overpriced essential government services like housing, medical and transport (COE, ERP, HDB, SMRT, ....) and lose it to foreigners...
6. ...like the proverbial fools, Temasek bought Barclays bank... in July 2007 this year to add to their portfolio of foreign banks...
note of clarification... this is fast moving news and I base my analysis on current information... and when new information comes in, I will adjust my analysis...
.... to be continued... -
Originally posted by AndrewPKYap:
you will of course be kind enough to point out the proverbs that seem so relevant to your points.
5. ...like the proverbial fools, Temasek and their banks suffer, losing Singaporeans money they take from overpriced essential government services like housing, medical and transport (COE, ERP, HDB, SMRT, ....) and lose it to foreigners...
6. ...like the proverbial fools, Temasek bought Barclays bank... in July 2007 this year to add to their portfolio of foreign banks... -
nobody is denying your a genius, chill.
Originally posted by AndrewPKYap:If only that was true... they can buy them and then burn the papers for the ghosts in hell... hahahaha... because as of now... a US Federal Court refused to let one bank foreclose until they can show proof that they own the properties and not just simply showing the court the SIVs... maybe they can show the proof and if they can, they will keep it...
... if they determine that they cannot hahaha... they will be so happy to sell them to China and Temasek, that will buy them up like a bargain (as usual) and then find that the papers are worth for use only as hell notes...
Edited to add: I have just found out that a couple more US Judges did the same... disallowed the foreclosure... until proof of ownership is brought before the court...
A picture of the Golden Opportunity for Temasek and China... -
don't attack me and I will not attack you... if you have good arguments to make, I will listen!Originally posted by newcomer:nobody is denying your a genius, chill. -
... but you must make your argument...
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still waiting to hear the proverbs
i'm drawing a blank -
... but please don't make stupid arguments coming from ignorance...
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hey it's a fair question
you said it was proverbial, and i'm just curious which proverb it can from.
I am, after all, "grossly stupid", and i need to brush up on my general knowledge. So please, since you're ever so willing to impart knowledge, tell me the story. Or the proverb.
I can also be satisfied if you decide to give up and admit you didn't know what that word meant. -
google is your friend... or are you too stupid to know even that?
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you could have just told me
"a fool and his money are soon parted"
but of course, you had to dodge for half a page of posts before finally resorting to google.
Yup, that was really convincing.
You convinced me you knew what you were talking about all right. -
wah learn so fast.. just a simple hint "google is your friend" and you finally managed after all this time to get it...
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lol
you use more emoticons when you're frustrated.
It's what's known as a "tell". -
yah sure....
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here we go again....
look at the crapz Ho Jinx did with the GST, ERP, COE money... go shopping in London...
buy in July and now? .... -
so in your infinite wisdom and relentless research, you have never come across an instance where the gov made a correct investment?Originally posted by AndrewPKYap:here we go again....
look at the crapz Ho Jinx did with the GST, ERP, COE money... go shopping in London...
buy in July and now? ....
how bout some balance?