Subprime..... - Chicagoland Sportbikes
Chicagoland Sportbikes
 
Open Forum This forum is for all off-topic discussion.

Reply
 
LinkBack Thread Tools Display Modes
post #1 of 150 (permalink) Old 08-15-2007, 08:30 PM Thread Starter
Registered User
 
Meulen's Avatar
 
Join Date: May 2002
Location: Romeoville
Posts: 19,186
Location: Romeoville
Sportbike: looking to get dirty!
Years Riding: long time
How you found us: SBN
           
Subprime.....



All you subprime borrowing, overextended, thinking your home is an ATM, superficial, no self control idoits!!!!!!!!!!!!!!!!!!!!!

you suck!!!!!
way to screw up the economy.




that is all

Brian (F.K.A. Crazy)

Gamertag: CRAZY403


“You can’t escape the responsibility of tomorrow by evading it today.”

-Abraham Lincoln


“Blessed are the young, for they shall inherit the national debt.”

-Herbert Hoover
Meulen is offline  
Sponsored Links
Advertisement
 
post #2 of 150 (permalink) Old 08-15-2007, 08:41 PM
Lovin this Twin
 
Hooligan's Avatar
 
Join Date: Apr 2002
Location: Aurora IL
Posts: 1,980
Location: Aurora IL
Sportbike: 05 SV1000S, Wide Glide, DR350
Years Riding: 1/2 hour then it rained
How you found us: member
           
Send a message via AIM to Hooligan Send a message via Yahoo to Hooligan
That sounded almost as bad as Hillary.
The economy surely isnt affected by cheap labor or all the have been AMERICAN made products being slapped together in China for a frikkin bowl of rice and a fish head. Thats not a possibility now is it?

Maybe all these CEO's and business owners sending everything overseas should catch a bullet between thier eyes, That would be a good start in fixing the economy, not bashing the middle class for trying thier best at owning and keeping thier homes.

This is gonna hurt!
Hooligan is offline  
post #3 of 150 (permalink) Old 08-15-2007, 09:29 PM
Moderator

 
Underdog's Avatar
 
Join Date: Aug 2002
Location: Not Chicago Anymore
Posts: 9,252
Location: Not Chicago Anymore
Sportbike: 08 YZ250F, 03 Tuono
Years Riding: Eh?
How you found us: .
           
Don't hate on me. I rent.

<---- Patrick

Property of Evil Monkey Racing

Just because I don't care doesn't mean I don't understand.


Underdog is offline  
post #4 of 150 (permalink) Old 08-15-2007, 09:29 PM Thread Starter
Registered User
 
Meulen's Avatar
 
Join Date: May 2002
Location: Romeoville
Posts: 19,186
Location: Romeoville
Sportbike: looking to get dirty!
Years Riding: long time
How you found us: SBN
           
Quote:
Originally Posted by Hooligan View Post
That sounded almost as bad as Hillary.
The economy surely isnt affected by cheap labor or all the have been AMERICAN made products being slapped together in China for a frikkin bowl of rice and a fish head. Thats not a possibility now is it?

Maybe all these CEO's and business owners sending everything overseas should catch a bullet between thier eyes, That would be a good start in fixing the economy, not bashing the middle class for trying thier best at owning and keeping thier homes.

your confusing desperation with greed. Somewhere down the line people forgot how to live within there means. Banks tried to capitalize on that. They new the risk and failed big time. People new the risk and are appearantly failing too. I'm glad, except that effects people who didn't fall into the trap by taking a chunk out of the value of their assets. Hilary blames the mortgage industry. Hell, she couldn't sound like me, no one would vote for her. I blame stupid people

Brian (F.K.A. Crazy)

Gamertag: CRAZY403


“You can’t escape the responsibility of tomorrow by evading it today.”

-Abraham Lincoln


“Blessed are the young, for they shall inherit the national debt.”

-Herbert Hoover
Meulen is offline  
post #5 of 150 (permalink) Old 08-15-2007, 10:01 PM
Move along
 
Eugene's Avatar
 
Join Date: Sep 2005
Location: Cardboard box
Posts: 1,606
Location: Cardboard box
Sportbike: 08 GSXR 600
Years Riding: Day after yesterday
How you found us: referred
           
Send a message via AIM to Eugene
Can't blame the people when the mortgage industry are the ones that was pushing it to be sold to the consumer, blame the people selling it to the consumer knowing full well that the person can not afford it.

Xbox Live: BrBGot2Pee
Eugene is offline  
post #6 of 150 (permalink) Old 08-15-2007, 10:04 PM
Clever Girl
 
Noodles's Avatar
 
Join Date: Feb 2005
Location: Glendale Heights
Posts: 10,209
Location: Glendale Heights
Sportbike: 'Fightered F3
Years Riding: 3 years
How you found us: I woke up here.
           
Send a message via AIM to Noodles
Noodles is offline  
post #7 of 150 (permalink) Old 08-15-2007, 10:13 PM
Registered User
 
djdiva's Avatar
 
Join Date: Jun 2007
Location: West Loop
Posts: 549
Location: West Loop
Sportbike: 2006 blue SV650S
Years Riding: couple of seasons
How you found us: Luck
           
Send a message via Yahoo to djdiva
Quote:
Originally Posted by Eugene View Post
Can't blame the people when the mortgage industry are the ones that was pushing it to be sold to the consumer, blame the people selling it to the consumer knowing full well that the person can not afford it.
Blaming the mortgage industry? You cant be serious? Nobody told these subprime borrowers to charge up 40k in bills and use the equity that appreciation gave them to pay it off time after time. We supply the loans they ask for. Telling me its "my" fault because I gave somebody a loan they cant afford is like shooting the messenger. People know their own finances and its not my job to be a financial advisor.


This is silent btw
djdiva is offline  
post #8 of 150 (permalink) Old 08-15-2007, 10:14 PM
Registered User
 
BOOSTD_GSXR's Avatar
 
Join Date: May 2007
Location: Bartlett
Posts: 1,602
Location: Bartlett
Sportbike: GSXR-1000_many pieces now, GSXR-600_large twisted metal paper wait, fiddy love and only thing left!
Years Riding: just long enough to take a digger...
How you found us: Bozo the Clown
           
ya this sucks, rates just jumped about a point this past few days....
BOOSTD_GSXR is offline  
post #9 of 150 (permalink) Old 08-15-2007, 10:25 PM
Move along
 
Eugene's Avatar
 
Join Date: Sep 2005
Location: Cardboard box
Posts: 1,606
Location: Cardboard box
Sportbike: 08 GSXR 600
Years Riding: Day after yesterday
How you found us: referred
           
Send a message via AIM to Eugene
Quote:
Originally Posted by djdiva77 View Post
Blaming the mortgage industry? You cant be serious? Nobody told these subprime borrowers to charge up 40k in bills and use the equity that appreciation gave them to pay it off time after time. We supply the loans they ask for. Telling me its "my" fault because I gave somebody a loan they cant afford is like shooting the messenger. People know their own finances and its not my job to be a financial advisor.


This is silent btw
It's your job as a responsible mortgage broker to tell then and warn them and make sure they understand what they are getting into. You see their credit score and history from that you can tell what how they are with money. You sold them the product to get them a home knowing how they spend their money with shitty credit as it is, did you really think they were going to do anything different once they closed? Trust me I use to do mortgages as well and know how it works that's why I got out of it because me making money is not worth putting someone else in the hole in the process. I've seen a lot of borrowers with shitty credit and history, Yes I could have given them the loan but I turned them away and told them flat out they will be in a worse position if they go through with it. Yes, I can say that I can blame the mortgage industry for wanting to make money where ever they can.

Xbox Live: BrBGot2Pee
Eugene is offline  
post #10 of 150 (permalink) Old 08-15-2007, 10:47 PM
Lick Me
 
HeavyHand's Avatar
 
Join Date: Mar 2006
Location: wood dale
Posts: 1,635
Location: wood dale
Sportbike: '01 sv650s, CRF 70
Years Riding: 3
How you found us: from moparboyy
           
Send a message via AIM to HeavyHand
i guess all the people that got there mortgage from a pop up window while surfing the web are now paying or not being able pay for their mistakes.


nick
HeavyHand is offline  
post #11 of 150 (permalink) Old 08-15-2007, 10:52 PM
 
Join Date: Apr 2002
Posts: 5,923
           
Quote:
Originally Posted by Hooligan View Post
That sounded almost as bad as Hillary.
The economy surely isnt affected by cheap labor or all the have been AMERICAN made products being slapped together in China for a frikkin bowl of rice and a fish head. Thats not a possibility now is it?

Maybe all these CEO's and business owners sending everything overseas should catch a bullet between thier eyes, That would be a good start in fixing the economy, not bashing the middle class for trying thier best at owning and keeping thier homes.
Dude? Killing the successful and self starters among us would be a good start?? Holy fuck.

And no, the current slide has nothing to do with cheap overseas labor.
Brian is offline  
post #12 of 150 (permalink) Old 08-15-2007, 10:56 PM
 
Join Date: Apr 2002
Posts: 5,923
           
Quote:
Originally Posted by Eugene View Post
It's your job as a responsible mortgage broker to tell then and warn them and make sure they understand what they are getting into. You see their credit score and history from that you can tell what how they are with money. You sold them the product to get them a home knowing how they spend their money with shitty credit as it is, did you really think they were going to do anything different once they closed? Trust me I use to do mortgages as well and know how it works that's why I got out of it because me making money is not worth putting someone else in the hole in the process. I've seen a lot of borrowers with shitty credit and history, Yes I could have given them the loan but I turned them away and told them flat out they will be in a worse position if they go through with it. Yes, I can say that I can blame the mortgage industry for wanting to make money where ever they can.


Warn them about what????????????

Borrower/credit card user: I want money
Lender: Do you know you are borrowing money from me, and you have to pay it back?
Borrower/credit card user: Yes
Lender: ok

Is that how that goes??
Brian is offline  
post #13 of 150 (permalink) Old 08-15-2007, 11:00 PM
Bug
Ridiculously Good Looking
 
Bug's Avatar
 
Join Date: Apr 2005
Location: Gold Coast
Posts: 32,750
Location: Gold Coast
Sportbike: Sportbike?
Years Riding: No F'in Idea
How you found us: 4 & 6
           
Real Simple - Interest Only Loans with the hopes of home appreciation and the "buy low sell high" theroy- Housing market slows - People get screwed

"Life is not a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside, thoroughly used up, totally worn out, and loudly proclaiming WOW, what a RIDE !!"
Bug is offline  
post #14 of 150 (permalink) Old 08-15-2007, 11:25 PM
Move along
 
Eugene's Avatar
 
Join Date: Sep 2005
Location: Cardboard box
Posts: 1,606
Location: Cardboard box
Sportbike: 08 GSXR 600
Years Riding: Day after yesterday
How you found us: referred
           
Send a message via AIM to Eugene
Quote:
Originally Posted by Brian View Post


Warn them about what????????????

Borrower/credit card user: I want money
Lender: Do you know you are borrowing money from me, and you have to pay it back?
Borrower/credit card user: Yes
Lender: ok

Is that how that goes??
as a mortgage broker ethically you need to educate your client on what they are able to do and not do. Plain and simple. You are comparing apples to oranges. Credit card debt depending on the company can settle and right off the balance and you still have a home. You default on a mortgage your ass is out on the street. You have your opinion and I have mine about the situation. There are a lot of shady ass mortgage brokers that is only out to make money and not care about selling the product to someone that they know will default or possibly even sell them the wrong product making the consumer think they have nothing to worry about. The whole Subprime market got out of hand way to quick and for the shady brokers made out good.

Xbox Live: BrBGot2Pee

Last edited by Eugene; 08-15-2007 at 11:36 PM.
Eugene is offline  
post #15 of 150 (permalink) Old 08-15-2007, 11:46 PM
 
Join Date: Apr 2002
Posts: 5,923
           
Quote:
Originally Posted by Eugene View Post
as a mortgage broker ethically you need to educate your client on what they are able to do and not do. Plain and simple. You are comparing apples to oranges. Credit card debt depending on the company can settle and right off the balance and you still have a home. You default on a mortgage your ass is out on the street. You have your opinion and I have mine about the situation. There are a lot of shady ass mortgage brokers that is only out to make money and not care about selling the product to someone that they know will default or possibly even sell them the wrong product making the consumer think they have nothing to worry about. The whole Subprime market got out of hand way to quick and for the shady brokers made out good.
If everyone providing goods and services needs to "ethically" inform their customers of the ramifications of thewir choices in life, we would have time for little else.

Could you imagine the lines at the grocery store when dietitians are hired to counsel consumers on their purchases? How bout the Casinos? They would need hundreds of people there to even assess whether or not someone should even be there, let alone analyze their individual bets. While we are at it, lets have the government employ 10 million dermatologists to canvas the beaches of America and warn taxpayers of their risks of skin cancer! I could go on all night with these "ethical" ideas! Why stop at lenders???

We so need people to save us from ourselves!! Who are we to think we can live life without help??
Brian is offline  
post #16 of 150 (permalink) Old 08-15-2007, 11:48 PM
YO MAMA
 
Odysseys's Avatar
 
Join Date: Apr 2002
Location: balls deep in someones mom
Posts: 60,261
Location: balls deep in someones mom
Sportbike: 2010 Electra Glide Police Edition 103cu
Years Riding: a long time!
           
all i know is i am sitting on 82,000 of equity.



Odysseys is offline  
post #17 of 150 (permalink) Old 08-15-2007, 11:49 PM

 
Brian#803's Avatar
 
Join Date: Aug 2006
Location: Pewaukee, Wi
Posts: 908
Location: Pewaukee, Wi
Sportbike: Track: 08 GSXR 1000; 08 GSXR 1000; 2005 R6 Dirt: 08 CRF 250 06 KLX 110
Years Riding: 15 years
How you found us: NESBA
           
Quote:
Originally Posted by Eugene View Post
as a mortgage broker ethically you need to educate your client on what they are able to do and not do. Plain and simple. You are comparing apples to oranges. Credit card debt depending on the company can settle and right off the balance and you still have a home. You default on a mortgage your ass is out on the street. You have your opinion and I have mine about the situation. There are a lot of shady ass mortgage brokers that is only out to make money and not care about selling the product to someone that they know will default or possibly even sell them the wrong product making the consumer think they have nothing to worry about. The whole Subprime market got out of hand way to quick and for the shady brokers made out good.

blame for the subprime "mess" cannot be solely placed on the brokers, banks, the secondary market or the consumer. It is a combination of all four..the secondary market called out for loans in the subprime and Alt A market because they paid well...the banks provided the loans to meet the demand...the brokers made the programs available...and the consumers gobbled them up and used them to buy houses they knew they probably shouldn't be buying with them.

Blame can be placed across the board.....not one facet of the industry should shoulder the blame...that is just ridiculous.

WWW.TRACKDAYSTORE.COM The only online store where you earn free track time when you make a purchase
WWW.NESBA.COM
Nesba Midwest CR #803
Hix Racing #803
Brian#803 is offline  
post #18 of 150 (permalink) Old 08-15-2007, 11:50 PM
 
Join Date: Jun 2002
Posts: 45
      
Enough blame to go around

Banks
Investors
Builders
Mortgage Brokers
Consumers
Appraisers
Real Estate Agents/Brokers

In all industries, there are good and bad.

Some mortgage brokers operated as drive thru windows without regard to regulation or the well being of their clients. Not all.

Some consumers used their homes as piggybanks. Not all.

Some builders flooded the market with housing for buyers that do not exist. Not all.

Some appraisers inflated value of homes. Not all.

Some banks implemented guidelines that were beyond suicidal. Not all.

It's funny how easily we forget that the housing industry and the influx of money into the housing sector after 9/11 is what carried our economy through what could have been a devastating time for our economic system. It's funny how many people forget that the industry they are now bashing is the same industry that helped them get into their cozy suburban 4 bedroom 2 1/2 bath American Dream.

There are times when the ills of some cause all to suffer.
CrznChick is offline  
post #19 of 150 (permalink) Old 08-15-2007, 11:52 PM

 
Brian#803's Avatar
 
Join Date: Aug 2006
Location: Pewaukee, Wi
Posts: 908
Location: Pewaukee, Wi
Sportbike: Track: 08 GSXR 1000; 08 GSXR 1000; 2005 R6 Dirt: 08 CRF 250 06 KLX 110
Years Riding: 15 years
How you found us: NESBA
           
Quote:
Originally Posted by Brian View Post
If everyone providing goods and services needs to "ethically" inform their customers of the ramifications of thewir choices in life, we would have time for little else.

Could you imagine the lines at the grocery store when dietitians are hired to counsel consumers on their purchases? How bout the Casinos? They would need hundreds of people there to even assess whether or not someone should even be there, let alone analyze their individual bets. While we are at it, lets have the government employ 10 million dermatologists to canvas the beaches of America and warn taxpayers of their risks of skin cancer! I could go on all night with these "ethical" ideas! Why stop at lenders???

We so need people to save us from ourselves!! Who are we to think we can live life without help??
Brian...you make an excellent point...people need to take responsibility for themselves...with the internet available, there is no reason that the consumer cannot educate themselves on the type of loan they intend to take out.

WWW.TRACKDAYSTORE.COM The only online store where you earn free track time when you make a purchase
WWW.NESBA.COM
Nesba Midwest CR #803
Hix Racing #803
Brian#803 is offline  
post #20 of 150 (permalink) Old 08-15-2007, 11:54 PM
 
Join Date: Jul 2002
Posts: 1,028
           
Quote:
Originally Posted by Eugene View Post
It's your job as a responsible mortgage broker to tell then and warn them and make sure they understand what they are getting into. You see their credit score and history from that you can tell what how they are with money. You sold them the product to get them a home knowing how they spend their money with shitty credit as it is, did you really think they were going to do anything different once they closed? Trust me I use to do mortgages as well and know how it works that's why I got out of it because me making money is not worth putting someone else in the hole in the process. I've seen a lot of borrowers with shitty credit and history, Yes I could have given them the loan but I turned them away and told them flat out they will be in a worse position if they go through with it. Yes, I can say that I can blame the mortgage industry for wanting to make money where ever they can.

This isnt the brokers fault nor subprime lender, brokers or anyone elses in the mortgage business... You are speaking of things which you dont seem to have a clear knowledge of... Its not as simple as saying all brokers are bad... And I cant trust you for having such a minimal knowledge of it all... I also wont waste my time telling you that the INVESTORS OF WALL STREET SET THE PARAMETERS OF WHAT THEY WILL BUY FROM THE LENDERS/BROKERS. Its a long drawn out story that has to do with risk ratings and investors and competing banks... The brokers are the last people you should be blaming...

Brokers are only allowed to make 5% of the total loan amount, while realtors are able to make more than 10%... And we are the bad guys?

It isnt just subrime that were rated incorrectly riskwise either. The prime and alt a lenders/investors are feeling a hit also, and it is actually worse than subprime.

The reason you are getting this is because the politicians that are using this as an issue are trying to appeal to common people that just dont get the real financial world and the ins and outs of it.

This all comes down to a number of ongoing events that occured after 9/11...
If anyone wants a real explaination on this in more detail, pm me with a phone # or call me at my office 630/596/5401 ask for Eric and i will explain it... But you can trust it wasnt the brokers fault.
zeusrotty is offline  
post #21 of 150 (permalink) Old 08-15-2007, 11:55 PM

 
Brian#803's Avatar
 
Join Date: Aug 2006
Location: Pewaukee, Wi
Posts: 908
Location: Pewaukee, Wi
Sportbike: Track: 08 GSXR 1000; 08 GSXR 1000; 2005 R6 Dirt: 08 CRF 250 06 KLX 110
Years Riding: 15 years
How you found us: NESBA
           
Quote:
Originally Posted by Odysseys View Post
all i know is i am sitting on 82,000 of equity.

Ken,

hate to be the bearer of bad new...but you have 82k in equity right NOW...there is a distinct possibility that number may be lowered a bit when it all shakes out.

WWW.TRACKDAYSTORE.COM The only online store where you earn free track time when you make a purchase
WWW.NESBA.COM
Nesba Midwest CR #803
Hix Racing #803
Brian#803 is offline  
post #22 of 150 (permalink) Old 08-15-2007, 11:55 PM
 
Join Date: Jul 2002
Posts: 1,028
           
Quote:
Originally Posted by CrznChick View Post
Banks
Investors
Builders
Mortgage Brokers
Consumers
Appraisers
Real Estate Agents/Brokers

In all industries, there are good and bad.

Some mortgage brokers operated as drive thru windows without regard to regulation or the well being of their clients. Not all.

Some consumers used their homes as piggybanks. Not all.

Some builders flooded the market with housing for buyers that do not exist. Not all.

Some appraisers inflated value of homes. Not all.

Some banks implemented guidelines that were beyond suicidal. Not all.

It's funny how easily we forget that the housing industry and the influx of money into the housing sector after 9/11 is what carried our economy through what could have been a devastating time for our economic system. It's funny how many people forget that the industry they are now bashing is the same industry that helped them get into their cozy suburban 4 bedroom 2 1/2 bath American Dream.

There are times when the ills of some cause all to suffer.
I agree
zeusrotty is offline  
post #23 of 150 (permalink) Old 08-15-2007, 11:56 PM
 
Join Date: Jul 2002
Posts: 1,028
           
Quote:
Originally Posted by FIRECAT View Post
Ken,

hate to be the bearer of bad new...but you have 82k in equity right NOW...there is a distinct possibility that number may be lowered a bit when it all shakes out.
Remember the hype from Bush... A soft landing...
zeusrotty is offline  
post #24 of 150 (permalink) Old 08-15-2007, 11:57 PM
YO MAMA
 
Odysseys's Avatar
 
Join Date: Apr 2002
Location: balls deep in someones mom
Posts: 60,261
Location: balls deep in someones mom
Sportbike: 2010 Electra Glide Police Edition 103cu
Years Riding: a long time!
           
Quote:
Originally Posted by FIRECAT View Post
Ken,

hate to be the bearer of bad new...but you have 82k in equity right NOW...there is a distinct possibility that number may be lowered a bit when it all shakes out.
thats ok, i dont plan to take it out, or sell for the next 10 years.

market is the market.



Odysseys is offline  
post #25 of 150 (permalink) Old 08-15-2007, 11:57 PM
 
Join Date: Jul 2002
Posts: 1,028
           
Quote:
Originally Posted by djdiva77 View Post
Blaming the mortgage industry? You cant be serious? Nobody told these subprime borrowers to charge up 40k in bills and use the equity that appreciation gave them to pay it off time after time. We supply the loans they ask for. Telling me its "my" fault because I gave somebody a loan they cant afford is like shooting the messenger. People know their own finances and its not my job to be a financial advisor.


This is silent btw
And they do it again as soon as you get them clear. Believe me.
zeusrotty is offline  
post #26 of 150 (permalink) Old 08-15-2007, 11:58 PM

 
Brian#803's Avatar
 
Join Date: Aug 2006
Location: Pewaukee, Wi
Posts: 908
Location: Pewaukee, Wi
Sportbike: Track: 08 GSXR 1000; 08 GSXR 1000; 2005 R6 Dirt: 08 CRF 250 06 KLX 110
Years Riding: 15 years
How you found us: NESBA
           
Quote:
Originally Posted by Odysseys View Post
thats ok, i dont plan to take it out, or sell for the next 10 years.

market is the market.
Excellent attitude Ken.

WWW.TRACKDAYSTORE.COM The only online store where you earn free track time when you make a purchase
WWW.NESBA.COM
Nesba Midwest CR #803
Hix Racing #803
Brian#803 is offline  
post #27 of 150 (permalink) Old 08-15-2007, 11:59 PM

 
Brian#803's Avatar
 
Join Date: Aug 2006
Location: Pewaukee, Wi
Posts: 908
Location: Pewaukee, Wi
Sportbike: Track: 08 GSXR 1000; 08 GSXR 1000; 2005 R6 Dirt: 08 CRF 250 06 KLX 110
Years Riding: 15 years
How you found us: NESBA
           
Quote:
Originally Posted by zeusrotty View Post
Remember the hype from Bush... A soft landing...
yeah...we are coming in fast and the plane doesn't have brakes...its gonna be a soft one allright

WWW.TRACKDAYSTORE.COM The only online store where you earn free track time when you make a purchase
WWW.NESBA.COM
Nesba Midwest CR #803
Hix Racing #803
Brian#803 is offline  
post #28 of 150 (permalink) Old 08-16-2007, 12:03 AM
 
Join Date: Jul 2002
Posts: 1,028
           
Quote:
Originally Posted by Bug View Post
Real Simple - Interest Only Loans with the hopes of home appreciation and the "buy low sell high" theroy- Housing market slows - People get screwed
But thats there own fault... They knew what they were doing... It is all fully disclosed in black and white... Thats why we have Notes and adjustable rate disclosures and riders...

On a refi they have 3 days after the closing to not do it... How many people are talked into being upside down in cars and it isnt regulated... Brokers and lenders are completely regulated and audited often... This came down to risk assesments and thats what the investors went by...
zeusrotty is offline  
post #29 of 150 (permalink) Old 08-16-2007, 12:06 AM

 
Brian#803's Avatar
 
Join Date: Aug 2006
Location: Pewaukee, Wi
Posts: 908
Location: Pewaukee, Wi
Sportbike: Track: 08 GSXR 1000; 08 GSXR 1000; 2005 R6 Dirt: 08 CRF 250 06 KLX 110
Years Riding: 15 years
How you found us: NESBA
           
Here is another point no one brings up...someone else to throw some blame on.

One example:

American Home in January exceeded market expectations with their per share dividends. All of the major brokerage houses were absolutely FLOORED and listed them as an OUTPERFORM (means buy the stock)with a target of $40 (in january they were trading at $34) Meanwhile...the subprime meltdown already started and lenders were going under at a pretty good rate.

In early August American Home filed for bankruptcy and their shares were trading at 22 cents today vs. the 34.00 they were trading at in january. Yet the wall street guru's all instructed the public to BUY the stock 8 short months ago? How can these people who's job it is to analyze the market and make recommendations regarding the market MISS this? So should we throw some blame on them also because of their gross miscalculation of the market and the impending issues in the mortgage market? I can tell you that the MAJORITY of the blame for the meltdown can be place firmly at the feet of the MEDIA! The numbers aren't good...but they aren't as bad as they are made out to be, and since the majority of stock market and mutual funds decisions are made based off of psychological factors and NOT fact...the market has really overeacted to the situation and is fleeing from even the quality mortgage backed bonds that are available. This in turn is affecting the ENTIRE market.

WWW.TRACKDAYSTORE.COM The only online store where you earn free track time when you make a purchase
WWW.NESBA.COM
Nesba Midwest CR #803
Hix Racing #803

Last edited by Brian#803; 08-16-2007 at 12:12 AM.
Brian#803 is offline  
post #30 of 150 (permalink) Old 08-16-2007, 12:08 AM
 
Join Date: Jul 2002
Posts: 1,028
           
Quote:
Originally Posted by FIRECAT View Post
yeah...we are coming in fast and the plane doesn't have brakes...its gonna be a soft one allright
In all honesty, I think the new fed is taking the right steps on this, and I believe we will be okay... People should just hang on to there homes and not sell if they dont absolutely have to... The market will pick back up in the spring. Think of it this way... All your crappy neibors that shouldnt have such a nice home will be gone...
zeusrotty is offline  
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Chicagoland Sportbikes forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome