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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: ild who wrote (22582)2/1/2005 3:11:14 PM
From: John Vosilla  Read Replies (1) of 116555
 
All excellent points but I did have a high credit score in 1994 too and no one was about to put a gun to my head back then to borrow..LOL As to the deteriorating quality that I also believe is true just look at the profits and stock prices of banks and lenders in consumer loans and mortgages. The coastal housing bubble might need to burst before the shit hits the fan because it appears to be propping up the profits of everyone from Bank America to Countrywide to MBNA and Bank One these days. I noticed Countrywide has become very aggressive in raising rates on CD's. It has among the highest in the country. I can't see how they will make any money given how low mortgage rates still are.
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