courtesy of NYT
>
Source:
By Saying Yes, WaMu Built Empire on Shaky Loans
PETER S. GOODMAN and GRETCHEN MORGENSON
NYT, December 27, 2008
http://www.nytimes.com/2008/12/28/business/28wamu.html
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Overall household indebtedness is up from $7 trillion to almost $10 trillion since 2000. On this sum, we estimate, the American consumer has an annual interest bill of more than $500 billion; a sum, by the way, that vastly exceeds his current income growth." —Kurt Richebacher
Knowing that the vote over the weekend in Greece was really a referendum on Euro membership, a majority of the Greek Parliament said yes to staying. European Finance Ministers meet again on Wednesday to solidify the 2nd bailout package for Greece at the same time hopefully a deal is consummated between Greece and its creditors this week. The Greek 14.5b euro bond that matures on March 20th is up by 2 pts. The optimism that all will be completed and contained AGAIN to Greece has yields lower in Portugal, Spain and Italy. The iTraxx Financial Index is also narrower by...
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December 28th, 2008 at 9:09 am
possesion is 9/10ths of the law
why not with the availability of cash like it was
let out contracts to hometown boys who buy from hometown yards who pay taxes to homecounty assessors with the help of hometown lawyers and why – because they were the hometown powerbroker
like Hank said (I’m paraphrasing) “once its created its everybody problem”
and to complete this posts circle “possesion is 9/10ths of the law” ie Debt