Mortgage crisis reduces top 3 securities firms to near-junk status

[ribonucleic]

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

[240 is Back]

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!

[Straw Man]

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

[ribonucleic]

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

[24KT]

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 <--click me

The conference call starts in 30 minutes. (641) 297-7556 pin code 125056#