Re: OT "a leap of faith"


On Sat, 27 Sep 2008 14:07:12 -0700, "Paul Hovnanian P.E."
<paul@xxxxxxxxxxxxx> wrote:

I think its the impending adoption of strict banking capital standards
recommended by the Basel Accords
(http://en.wikipedia.org/wiki/Basel_Capital_Accords).

All of the US banks held their portfolios up against the strict
requirements and realized that much of them won't qualify. So they
started looking around for some patsy to buy their bad paper.

The best patsy money can buy: The Bush administration.

Paulson claims that banks won't lend money unless they can clean up
their portfolios. I think they are playing chicken with us. The number
of credit card and refinance offers I get in a week continue unabated.
That's loaning money, isn't it? The smart banks are busy getting better
loans onto their books, and holding onto them, rather than selling them
into the secondary market. The secondary market is getting pissed, what
with them sitting on a pile of bad paper and now no new product coming
in.

Right now the talks are stymied by Democrat requirements that ACORN be
funded and that union officials have to sit on all mortgage boards ;-)

So shove that up your ass and smoke it.

...Jim Thompson
--
| James E.Thompson, P.E. | mens |
| Analog Innovations, Inc. | et |
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Relevant Pages

  • Re: OT "a leap of faith"
    ... All of the US banks held their portfolios up against the strict ... The best patsy money can buy: ... Paulson claims that banks won't lend money unless they can clean up ... Right now the talks are stymied by Democrat requirements that ACORN be ...
    (sci.electronics.design)
  • Re: OT "a leap of faith"
    ... All of the US banks held their portfolios up against the strict ... The best patsy money can buy: ... Paulson claims that banks won't lend money unless they can clean up ... mortgages on commission, whereas the bankls etc. which bought the bundles ...
    (sci.electronics.design)
  • Re: OT "a leap of faith"
    ... All of the US banks held their portfolios up against the strict ... The best patsy money can buy: ... Paulson claims that banks won't lend money unless they can clean up ... Once a peasant, always a peasant ...
    (sci.electronics.design)
  • Re: OT "a leap of faith"
    ... All of the US banks held their portfolios up against the strict ... The best patsy money can buy: ... Paulson claims that banks won't lend money unless they can clean up ... Once a peasant, always a peasant ...
    (sci.electronics.design)
  • Re: OT "a leap of faith"
    ... Jim Thompson wrote: ... All of the US banks held their portfolios up against the strict ... Paulson claims that banks won't lend money unless they can clean up ... Once a peasant, always a peasant ...
    (sci.electronics.design)