The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: russwinter who wrote (47159)	12/13/2005 12:01:49 PM
From: Ramsey Su	Read Replies (1) of 110194

Russ, I think that is pretty important news, no snooze at all. I do believe predatory lending practices is prevalent in the subprime industry because that model itself provides marginal benefits to the borrower. I do believe that sooner or later, irresponsible Wall Street investment bankers would be call on the carpet to explain the due diligence they performed when marketing all the exotic MBS and related products. No problem when everything is going up but when the music stops, there are not going to have enough chairs for many. btw - NFI and NCC both reported performance for those interested. phx.corporate-ir.net novastarmortgage.com NCC mentioned something interesting. With the wave of BK filings in Oct, the effect on unsecured credit was immediate. NCC believes the effect on secured credit will come in the next few months and they are anticipating a loss of $20-$30 million. I am guessing that many are in the same boat, along with Katrina losses also. Ramsey

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