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Getbig Main Boards => Politics and Political Issues Board => Topic started by: ribonucleic on March 06, 2007, 12:45:38 PM

Title: Mortgage crisis reduces top 3 securities firms to near-junk status
Post by: ribonucleic on March 06, 2007, 12:45:38 PM

Goldman Sachs, Merrill Lynch, and Morgan Stanley suddenly have become so speculative that their own traders are valuing the three biggest securities firms as barely more creditworthy than junk bonds....

"These guys have made a lot of money securitizing mortgages over the years in a mortgage boom time... The question now is what is the exposure to credit risk and what are the potential revenue headwinds if they're not able to keep that securitization machine humming along.''

Spokesmen and spokeswomen for Goldman, Lehman, Merrill and Morgan Stanley declined to comment. A spokeswoman for Bear Stearns didn't immediately return calls for comment.

http://www.bloomberg.com/apps/news?pid=20601103&sid=a0j4oiYE3Bfw

Title: Re: Mortgage crisis reduces top 3 securities firms to near-junk status
Post by: 240 is Back on March 06, 2007, 12:49:22 PM

Yep.  The minute rates shift, this house of cards falls.

they'll sacrifice RE market to save the market, but everyone losing their retirement (second home) for pennies on the dollar will drop everything else.

I'm putting my money in mattresses!

Title: Re: Mortgage crisis reduces top 3 securities firms to near-junk status
Post by: Straw Man on March 06, 2007, 05:41:39 PM

Quote from: 240 is Back on March 06, 2007, 12:49:22 PM

Yep.  The minute rates shift, this house of cards falls.

they'll sacrifice RE market to save the market, but everyone losing their retirement (second home) for pennies on the dollar will drop everything else.

I'm putting my money in mattresses!

you're investing in mattress makers stock?

I hope that's what you mean

If not - try this:  http://www.hsbcdirect.com/1/2/1/offer?code=PPGE460000

Title: Re: Mortgage crisis reduces top 3 securities firms to near-junk status
Post by: ribonucleic on March 06, 2007, 05:44:31 PM

Where we're headed, the only sound investments will be land to grow your food on and guns to keep everyone else off it.

Title: Re: Mortgage crisis reduces top 3 securities firms to near-junk status
Post by: 24KT on March 06, 2007, 06:00:07 PM

Quote from: ribonucleic on March 06, 2007, 05:44:31 PM

Where we're headed, the only sound investments will be land to grow your food on and guns to keep everyone else off it.

There's also FFI (http://jme.mpgfreedom.com/intro.aspx?cid=50962) <--click me

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